Common use of 1998 FUNDING ORDER AND TARIFFS; OTHER APPROVALS Clause in Contracts

1998 FUNDING ORDER AND TARIFFS; OTHER APPROVALS. (i) The 1998 Funding Order pursuant to which the 1998 Transition Property has been created has been duly entered by the ICC, is valid and binding, is Final and is in full force and effect; (ii) the 1998 Initial Tariff is in full force and effect and is not subject to modification by the ICC except as provided under the Funding Law; (iii) as of the issuance of the Notes, the Notes are entitled to the protections provided in Section 18-104(c) of the Funding Law and, accordingly, the 1998 Funding Order, the 1998 Transition Property and the IFCs are not revocable by the ICC; (iv) the ICC may not reduce, postpone, impair or terminate the 1998 Transition Property, the 1998 Funding Order or the IFCs; (v) the process by which the 1998 Funding Order was adopted and approved and the 1998 Initial Tariff was filed, and the 1998 Funding Order and the 1998 Initial Tariff themselves, comply with all applicable laws, rules and regulations and the ICC may not revoke, amend or otherwise change the 1998 Initial Tariff in any manner which would defeat the expectations of the Holders to receive IFC Payments on a timely basis; and (vi) no other approval, authorization, consent, order or other action of, or filing with, any court, Federal or state regulatory body, administrative agency or other governmental instrumentality is required in connection with the grant of the 1998 Transition Property, except those that have been obtained or made.

Appears in 3 contracts

Samples: Intangible Transition Property Sale Agreement (Illinois Power Securitization Limited Liability Co), Intangible Transition Property Sale Agreement (Comed Funding LLC), Sale Agreement (Illinois Power Securitization Limited Liability Co)

AutoNDA by SimpleDocs

1998 FUNDING ORDER AND TARIFFS; OTHER APPROVALS. (i) The Illinois Power was authorized to file the Application, (ii) Illinois Power filed the Application with the ICC on June 24, 1998, in proper form, requesting the issuance of a transitional funding order; (iii) the 1998 Funding Order pursuant and 1998 Initial Tariff established, created and granted rights in and to which intangible transition property in an aggregate amount of $1.634 billion, and the 1998 Transition Property has been created and the right to impose and collect IFCs constitute current and original property rights vested in the Grantee to the fullest extent permitted by law; (iv) the 1998 Funding Order has been duly entered by the ICC, is valid and binding, is Final and is in full force and effect; (iiv) the 1998 Initial Tariff is in full force and effect effect, is valid and binding, and is not subject to modification by the ICC except as provided under the Funding Law; (iiivi) as of the issuance of the Notes, the Notes are entitled to the protections provided in Section 18-104(c) of the Funding Law and, accordingly, the 1998 Funding Order, the 1998 Transition Property and the IFCs are not revocable by the ICC; (ivvii) the ICC may not reduce, postpone, impair or terminate the 1998 Transition Property, the 1998 Funding Order or the IFCs; (vviii) the process by which the 1998 Funding Order was adopted and approved and the 1998 Initial Tariff was filed, and the 1998 Funding Order and the 1998 Initial Tariff themselves, comply with all applicable laws, rules and regulations and the ICC may not revoke, amend or otherwise change the 1998 Initial Tariff in any manner which would defeat the expectations of the Holders to receive IFC Payments on a timely basis; and (viix) no other approval, authorization, consent, order or other action of, or filing with, any court, Federal or state regulatory body, administrative agency or other governmental instrumentality is required in connection with the creation and grant of the 1998 Transition Property, except those that have been obtained or mademade and those filings described in Section 3.07.

Appears in 2 contracts

Samples: Grant Agreement (Illinois Power Securitization Limited Liability Co), Grant of Intangible Transition Property Agreement (Illinois Power Securitization Limited Liability Co)

1998 FUNDING ORDER AND TARIFFS; OTHER APPROVALS. Under the laws of the State of Illinois and the United States in effect on and at all relevant times before the Closing Date, (i) The Illinois Power was authorized to file the Application, (ii) Illinois Power filed the Application with the ICC on June 24, 1998, in proper form, requesting the issuance of a transitional funding order; (iii) the 1998 Funding Order pursuant and 1998 Initial Tariff established, created and granted rights in and to which intangible transition property in an aggregate amount of $1.634 billion, and the 1998 Transition Property has been created and the right to impose and collect IFCs constitute current and original property rights vested in the Grantee to the fullest extent permitted by law; (iv) the 1998 Funding Order has been duly entered by the ICC, is valid and binding, is Final ICC and is in full force and effect; (iiv) the 1998 Initial Tariff is in full force and effect and is not subject to modification by the ICC except as provided under the Funding Law; (iiivi) as of the issuance of the Notes, the Notes are entitled to the protections provided in Section 18-104(c) of the Funding Law and, accordingly, the 1998 Funding Order, the 1998 Transition Property and the IFCs are Order is not revocable by the ICC; (ivvii) the ICC State of Illinois may not reducelimit, postponealter, impair or terminate reduce the 1998 Transition PropertyProperty so as to substantially impair the terms of any contract made by Illinois Power, the Grantee or the Trust with the Holders or impair the rights and remedies of such Holders unless the State could demonstrate that such impairment was necessary to advance a significant and legitimate State purpose, and neither the 1998 Funding Order nor the 1998 Transitional Property or the IFCsrelated IFCs are subject to reduction, postponement, impairment or termination by subsequent action of the ICC; (vviii) the process by which the 1998 Funding Order was adopted and approved and the 1998 Initial Tariff was filed, and the 1998 Funding Order and the 1998 Initial Tariff themselves, comply with all applicable laws, rules and regulations and the ICC may not revoke, amend or otherwise change the 1998 Initial Tariff in any manner which would defeat the expectations of the Holders to receive IFC Payments on a timely basisregulations; and (viix) no other approval, authorization, consent, order or other action of, or filing with, any court, Federal or state regulatory body, administrative agency or other governmental instrumentality is required in connection with the creation and grant of the 1998 Transition Property, except those that have been obtained or mademade and those filings described in Section 3.07.

Appears in 1 contract

Samples: Grant Agreement (Illinois Power Securitization Limited Liability Co)

1998 FUNDING ORDER AND TARIFFS; OTHER APPROVALS. At the Closing Date, under the laws of the State of Illinois and the United States in effect on the Closing Date, (i) The the 1998 Funding Order pursuant to which the 1998 Transition Property has been created has been duly entered by the ICC, is valid and binding, is Final ICC and is in full force and effect; (ii) the 1998 Initial Tariff is in full force and effect and is not subject to modification by the ICC except as provided under the Funding Law; (iii) as of the issuance of the Notes, the Notes are entitled to the protections provided in Section 18-104(c) of the Funding Law and, accordingly, the 1998 Funding Order, the 1998 Transition Property and the IFCs are Order is not revocable by the ICC; (iv) the ICC State of Illinois may not reducelimit, postponealter, impair or terminate reduce the 1998 Transition PropertyProperty so as to substantially impair the terms of any contract made by Illinois Power, the Grantee or the Trust with the Holders or impair the rights and remedies of such Holders unless the State could demonstrate that such impairment was necessary to advance a significant and legitimate State purpose, and neither the 1998 Funding Order nor the 1998 Transition Property or the IFCsrelated IFCs are subject to reduction, postponement, impairment or termination by subsequent action of the ICC; (v) the process by which the 1998 Funding Order was adopted and approved and the 1998 Initial Tariff was filed, and the 1998 Funding Order and the 1998 Initial Tariff themselves, comply with all applicable laws, rules and regulations and the ICC may not revoke, amend or otherwise change the 1998 Initial Tariff in any manner which would defeat the expectations of the Holders to receive IFC Payments on a timely basisregulations; and (vi) no other approval, authorization, consent, order or other action of, or filing with, any court, Federal or state regulatory body, administrative agency or other governmental instrumentality is required in connection with the grant of the 1998 Transition Property, except those that have been obtained or mademade and those filings described in Section 3.07.

Appears in 1 contract

Samples: Sale Agreement (Illinois Power Securitization Limited Liability Co)

AutoNDA by SimpleDocs

1998 FUNDING ORDER AND TARIFFS; OTHER APPROVALS. (i) The ComEd was authorized to file the Application, (ii) ComEd filed the Application with the ICC on April 22, 1998, in proper form, requesting the issuance of a transitional funding order; (iii) the 1998 Funding Order pursuant and 1998 Initial Tariff established, created and granted rights in and to which intangible transition property in an aggregate amount of $6.323 billion, and the 1998 Transition Property has been created and the right to impose and collect IFCs constitute current and original property rights vested in the Grantee; (iv) the 1998 Funding Order has been duly entered by the ICC, is valid and binding, is Final and is in full force and effect; (iiv) the 1998 Initial Tariff is in full force and effect effect, is valid and binding, and is not subject to modification by the ICC except as provided under the Funding Law; (iiivi) as of the issuance of the Notes, the Notes are entitled to the protections provided in Section 18-104(c) of the Funding Law and, accordingly, the 1998 Funding Order, the 1998 Transition Property and the IFCs are not revocable by the ICC; (ivvii) the ICC may not reduce, postpone, impair or terminate the 1998 Transition Property, the 1998 Funding Order or the IFCs; (vviii) the process by which the 1998 Funding Order was adopted and approved and the 1998 Initial Tariff was filed, and the 1998 Funding Order and the 1998 Initial Tariff themselves, comply with all applicable laws, rules and regulations and the ICC may not revoke, amend or otherwise change the 1998 Initial Tariff in any manner which would defeat the expectations of the Holders to receive IFC Payments on a timely basis; and (viix) no other approval, authorization, consent, order or other action of, or filing with, any court, Federal or state regulatory body, administrative agency or other governmental instrumentality is required in connection with the creation and grant of the 1998 Transition Property, except those that have been obtained or mademade and those filings described in Section 3.07.

Appears in 1 contract

Samples: Agreement Relating to Grant of Intangible Transition Property (Comed Funding LLC)

1998 FUNDING ORDER AND TARIFFS; OTHER APPROVALS. Under the laws of the State of Illinois and the United States in effect on and at all relevant times before the Closing Date, (i) The ComEd was authorized to file the Application, (ii) ComEd filed the Application with the ICC on April 22, 1998, in proper form, requesting the issuance of a transitional funding order; (iii) the 1998 Funding Order pursuant and 1998 Initial Tariff established, created and granted rights in and to which intangible transition property in an aggregate amount of $6.323 billion, and the 1998 Transition Property has been created and the right to impose and collect IFCs constitute current and original property rights vested in the Grantee; (iv) the 1998 Funding Order has been duly entered by the ICC, is valid and binding, is Final and is in full force and effect; (iiv) the 1998 Initial Tariff is in full force and effect and is not subject to modification by the ICC except as provided under the Funding Law; (iiivi) as of the issuance of the Notes, the Notes are entitled to the protections provided in Section 18-104(c) of the Funding Law and, accordingly, the 1998 Funding Order, the 1998 Transition Property and the IFCs are Order is not revocable by the ICC; (ivvii) neither the State of Illinois nor the ICC may not reduce, postpone, impair or terminate the 1998 Transition Property, Property or the 1998 Funding Order or the IFCsOrder; (vviii) the process by which the 1998 Funding Order was adopted and approved and the 1998 Initial Tariff was filed, and the 1998 Funding Order and the 1998 Initial Tariff themselves, comply with all applicable laws, rules and regulations and the ICC may not revoke, amend or otherwise change the 1998 Initial Tariff in any manner which would defeat the expectations of the Holders to receive IFC Payments on a timely basisregulations; and (viix) no other approval, authorization, consent, order or other action of, or filing with, any court, Federal or state regulatory body, administrative agency or other governmental instrumentality is required in connection with the creation and grant of the 1998 Transition Property, except those that have been obtained or mademade and those filings described in Section 3.07.

Appears in 1 contract

Samples: Grant Agreement (Comed Funding LLC)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!