Common use of Book-Entry Transition Bonds Clause in Contracts

Book-Entry Transition Bonds. Unless otherwise specified in the related Series Supplement, each Series of Transition Bonds, upon original issuance, will be issued in the form of a typewritten Transition Bond or Transition Bonds representing the Book-Entry Transition Bonds, to be delivered to The Depository Trust Company, the initial Clearing Agency, by, or on behalf of, the Issuer. Such Transition Bond shall initially be registered on the Transition Bond Register in the name of Cede & Co., the nominee of the initial Clearing Agency, and no Transition Bond Owner will receive a definitive Transition Bond representing such Transition Bond Owner's interest in such Transition Bond, except as provided in Section 2.13. Unless and until definitive, fully registered Transition Bonds (the "Definitive Transition Bonds") have been issued to Transition Bond Owners pursuant to Section 2.13: (i) the provisions of this Section shall be in full force and effect; (ii) the Transition Bond Registrar and the Bond Trustee shall be entitled to deal with the Clearing Agency for all purposes of this Indenture (including the payment of principal of and premium, if any, and interest on the Transition Bonds and the giving of instructions or directions hereunder) as the sole holder of the Transition Bonds, and shall have no obligation to the Transition Bond Owners; (iii) to the extent that the provisions of this Section conflict with any other provisions of this Indenture, the provisions of this Section shall control; (iv) the rights of Transition Bond Owners shall be exercised only through the Clearing Agency and shall be limited to those established by law and agreements between such Transition Bond Owners and the Clearing Agency or the Clearing Agency Participants. Pursuant to the DTC Agreement, unless and until Definitive Transition Bonds are issued pursuant to Section 2.13, the initial Clearing Agency will make book-entry transfers among the Clearing Agency Participants and receive and transmit payments of principal of and premium, if any, and interest on the Transition Bonds to such Clearing Agency Participants; and (v) whenever this Indenture requires or permits actions to be taken based upon instructions or directions of Holders of Transition Bonds evidencing a specified percentage of the Outstanding Amount of the Transition Bonds or a Series or Class thereof, the Clearing Agency shall be deemed to represent such percentage only to the extent that it has received instructions to such effect from Transition Bond Owners or Clearing Agency Participants owning or representing, respectively, such required percentage of the beneficial interest in the Transition Bonds or such Series or Class and has delivered such instructions to the Bond Trustee.

Appears in 4 contracts

Samples: Indenture (Peco Energy Transition Trust), Indenture (Peco Energy Transition Trust), Indenture (West Penn Funding LLC)

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Book-Entry Transition Bonds. Unless otherwise specified the Series Supplement provides otherwise, all of the Transition Bonds shall be issued in Book-Entry Form, and the related Series SupplementIssuer shall execute and the Indenture Trustee shall, each Series of in accordance with this Section 2.11 and the Issuer Order, authenticate and deliver one or more Global Transition Bonds, upon evidencing the Transition Bonds which (i) shall be an aggregate original issuance, will principal amount equal to the aggregate original principal amount of the Transition Bonds to be issued pursuant to the Issuer Order, (ii) shall be registered in the form name of a typewritten Transition Bond the Clearing Agency therefor or Transition Bonds representing the Book-Entry Transition Bondsits nominee, to which shall initially be delivered to Cede & Co., as nominee for The Depository Trust Company, the initial Clearing Agency, by, or on behalf of, (iii) shall be delivered by the Issuer. Such Transition Bond shall initially be registered on the Transition Bond Register in the name of Cede & Co., the nominee of the initial Indenture Trustee pursuant to such Clearing Agency’s or such nominee’s instructions, and no (iv) shall bear a legend substantially to the effect set forth in Exhibit A. Each Clearing Agency designated pursuant to this Section 2.11 must, at the time of its designation and at all times while it serves as Clearing Agency hereunder, be a “clearing agency” registered under the Exchange Act and any other applicable statute or regulation. No Holder of Transition Bond Owner will Bonds issued in Book-Entry Form shall receive a definitive Definitive Transition Bond representing such Transition Bond Owner's Holder’s interest in such any of the Transition BondBonds, except as provided in Section 2.13. Unless (and until definitiveuntil) certificated, fully registered Transition Bonds (the "Definitive Transition Bonds") have been issued to Transition Bond Owners the Holders pursuant to Section 2.132.13 or pursuant to the Series Supplement relating thereto: (ia) the provisions of this Section 2.11 shall be in full force and effect; (iib) the Issuer, the Servicer, the Paying Agent, the Transition Bond Registrar and the Bond Indenture Trustee shall be entitled to may deal with the Clearing Agency for all purposes of this Indenture (including the payment making of principal of and premium, if any, and interest distributions on the Transition Bonds and the giving of instructions or directions hereunder) as the sole holder authorized representative of the Transition Bonds, and shall have no obligation to the Transition Bond OwnersHolders; (iiic) to the extent that the provisions of this Section 2.11 conflict with any other provisions of this Indenture, the provisions of this Section 2.11 shall control; (ivd) the rights of Transition Bond Owners Holders shall be exercised only through the Clearing Agency and the Clearing Agency Participants and shall be limited to those established by law and agreements between such Transition Bond Owners Holders and the Clearing Agency or and/or the Clearing Agency Participants. Pursuant to the DTC AgreementLetter of Representations, unless and until Definitive Transition Bonds are issued pursuant to Section 2.13, the initial Clearing Agency will make book-entry transfers among the Clearing Agency Participants and receive and transmit payments distributions of principal of and premium, if any, and interest on the Book-Entry Transition Bonds to such Clearing Agency Participants; and (ve) whenever this Indenture requires or permits actions to be taken based upon instructions instruction or directions of the Holders of Transition Bonds evidencing a specified percentage of the Outstanding Amount of the Transition Bonds or a Series or Class thereofBonds, the Clearing Agency shall be deemed to represent such percentage only to the extent that it has received instructions to such effect from Transition Bond Owners or the Holders and/or the Clearing Agency Participants owning or representing, respectively, such required percentage of the beneficial interest in the Transition Bonds or such Series or Class and has delivered such instructions to a Responsible Officer of the Bond Indenture Trustee.

Appears in 3 contracts

Samples: Indenture (AEP Transition Funding III LLC), Indenture (AEP Transition Funding III LLC), Indenture (AEP Transition Funding III LLC)

Book-Entry Transition Bonds. Unless otherwise specified in the applicable Series Supplement provides otherwise, all of the related Series Supplementof Transition Bonds shall be issued in Book-Entry Form, each Series of and the Issuer shall execute and the Indenture Trustee shall, in accordance with this Section 2.11 and the Issuer Order with respect to such Series, authenticate and deliver one or more Global Transition Bonds, upon evidencing the Transition Bonds of such Series which (i) shall be an aggregate original issuance, will principal amount equal to the aggregate original principal amount of such Transition Bonds to be issued pursuant to the applicable Issuer Order, (ii) shall be registered in the form name of a typewritten Transition Bond the Clearing Agency therefor or Transition Bonds representing the Book-Entry Transition Bondsits nominee, to which shall initially be delivered to Cede & Co., as nominee for The Depository Trust Company, the initial Clearing Agency, by, or on behalf of, (iii) shall be delivered by the Issuer. Such Transition Bond shall initially be registered on the Transition Bond Register in the name of Cede & Co., the nominee of the initial Indenture Trustee pursuant to such Clearing Agency's or such nominee's instructions, and no (iv) shall bear a legend substantially to the effect set forth in Exhibit A. Each Clearing Agency designated pursuant to this Section 2.11 must, at the time of its designation and at all times while it serves as Clearing Agency hereunder, be a "clearing agency" registered under the Exchange Act and any other applicable statute or regulation. No Holder of any Series of Transition Bond Owner will Bonds issued in Book-Entry Form shall receive a definitive Definitive Transition Bond representing such Transition Bond OwnerHolder's interest in any such Transition BondBonds, except as provided in Section 2.13. Unless (and until definitiveuntil) certificated, fully registered Transition Bonds of any Series (the "Definitive Transition Bonds") have been issued to Transition Bond Owners the Holders of such Series pursuant to Section 2.13: (i) 2.13 or pursuant to any applicable Series Supplement relating thereto: the provisions of this Section 2.11 shall be in full force and effect; (ii) effect;the Issuer, the Servicer, the Paying Agent, the Transition Bond Registrar and the Bond Indenture Trustee shall be entitled to may deal with the Clearing Agency for all purposes of this Indenture (including the payment making of principal of and premium, if any, and interest distributions on the Transition Bonds of such Series and the giving of instructions or directions hereunder) as the sole holder authorized representatives of the Transition Bonds, and shall have no obligation to the Transition Bond Owners; (iii) to Holders of such Series;to the extent that the provisions of this Section 2.11 conflict with any other provisions of this Indenture, the provisions of this Section 2.11 shall control; (iv) ; the rights of Transition Bond Owners Holders of such Series shall be exercised only through the Clearing Agency and the Clearing Agency Participants and shall be limited to those established by law and agreements between such Transition Bond Owners Holders and the Clearing Agency or and/or the Clearing Agency Participants. Pursuant to the DTC AgreementLetter of Representations, unless and until Definitive Transition Bonds are issued pursuant to Section 2.13, the initial Clearing Agency will make book-entry transfers among the Clearing Agency Participants and receive and transmit payments distributions of principal of and premium, if any, and interest on the Book-Entry Transition Bonds to such Clearing Agency Participants; and (v) whenever andwhenever this Indenture requires or permits actions to be taken based upon instructions instruction or directions of the Holders of Transition Bonds evidencing a specified percentage of the Outstanding Amount of the any Series of Transition Bonds or a Series or Class thereofBonds, the Clearing Agency shall be deemed to represent such percentage only to the extent that it has received instructions to such effect from Transition Bond Owners or the Holders and/or the Clearing Agency Participants owning or representing, respectively, such required percentage of the beneficial interest in the such Series of Transition Bonds or such Series or Class and has delivered such instructions to a Responsible Officer of the Bond Indenture Trustee.

Appears in 2 contracts

Samples: Indenture (Entergy Gulf States Reconstruction Funding I, LLC), Indenture (Entergy Gulf States Reconstruction Funding I, LLC)

Book-Entry Transition Bonds. Unless otherwise specified in the related Series Supplement, each Series of Transition Bonds, upon original issuance, will be issued in the form of a typewritten Transition Bond or Transition Bonds representing the Book-Entry Transition Bonds, to be delivered to The Depository Trust CompanyDTC, as the initial Clearing Agency, by, or on behalf of, the Issuer. Such Transition Bond shall initially be registered on the Transition Bond Register in the name of Cede & Co., the nominee of the initial Clearing Agency, and no Transition Bond Owner will receive a definitive Transition Bond representing such Transition Bond Owner's interest in such Transition Bond, except as provided in Section 2.13. Unless and until definitive, fully registered Transition Bonds of any Series (the "Definitive Transition Bonds") replacing the Book-Entry Transition Bonds have been issued to Transition Bond Owners Bondholders of that Series pursuant to Section 2.132.13 or pursuant to any applicable Series Supplement relating thereto: (ia) the provisions of this Section shall be in full force and effect; (iib) the Transition Bond Registrar and the Bond Trustee shall be entitled to deal with the Clearing Agency for all purposes of this Indenture (including the payment of principal Principal of and premium, if any, and interest Interest on the Transition Bonds and the giving of instructions or directions hereunder) as the sole holder Holder of the Transition Bonds, and shall have no obligation to the Transition Bond Owners; (iiic) to the extent that the provisions of this Section conflict with any other provisions of this Indenture, the provisions of this Section shall control; (ivd) the rights of Transition Bond Owners shall be exercised only through the Clearing Agency and shall be limited to those established by law and agreements between such Transition Bond Owners and the Clearing Agency or the Clearing Agency Participants. Pursuant to the DTC Agreement, unless and until Definitive Transition Bonds are issued pursuant to Section 2.13, the initial Clearing Agency will make book-entry transfers among the Clearing Agency Participants and receive and transmit payments of principal Principal of and premium, if any, and interest Interest on the Transition Bonds to such Clearing Agency Participants; and (ve) whenever this Indenture requires or permits actions to be taken based upon instructions or directions of Holders of Transition Bonds evidencing a specified percentage of the Outstanding Amount of the Transition Bonds or a Series or Class Tranche thereof, the Clearing Agency shall be deemed to represent such percentage only to the extent that it has received instructions to such effect from Transition Bond Owners or Clearing Agency Participants owning or representing, respectively, such required percentage of the beneficial interest in the Transition Bonds or such Series or Class Tranche and has delivered such instructions to the Bond Trustee.

Appears in 2 contracts

Samples: Indenture (CenterPoint Energy Transition Bond CO II, LLC), Indenture (CenterPoint Energy Transition Bond CO II, LLC)

Book-Entry Transition Bonds. Unless otherwise specified in the related Series Supplement, each Series of Transition Bonds, upon original issuance, will be issued in the form of a typewritten Transition Bond or Transition Bonds representing the Book-Entry Transition Bonds, to be delivered to The Depository Trust Company, the initial Clearing Agency, by, or on behalf of, the Issuer. Such Transition Bond shall initially be registered on the Transition Bond Register in the name of Cede & Co., the nominee of the initial Clearing Agency, and no Transition Bond Owner will receive a definitive Transition Bond representing such Transition Bond Owner's interest in such Transition Bond, except as provided in Section 2.13. Unless and until definitive, fully registered Transition Bonds (the "Definitive Transition Bonds") have been issued to Transition Bond Owners Bondholders pursuant to Section 2.13: (i) the provisions of this Section shall be in full force and effect; (ii) the Transition Bond Registrar and the Bond Trustee shall be entitled to deal with the Clearing Agency for all purposes of this Indenture (including the payment of principal of and premium, if any, and interest on the Transition Bonds and the giving of instructions or directions hereunder) as the sole holder of the Transition Bonds, and shall have no obligation to the Transition Bond Owners; (iii) to the extent that the provisions of this Section conflict with any other provisions of this Indenture, the provisions of this Section shall control; (iv) the rights of Transition Bond Owners shall be exercised only through the Clearing Agency and shall be limited to those established by law and agreements between such Transition Bond Owners and the Clearing Agency or the Clearing Agency Participants. Pursuant to the DTC Agreement, unless and until Definitive Transition Bonds are issued pursuant to Section 2.13, the initial Clearing Agency will make book-entry transfers among the Clearing Agency Participants and receive and transmit payments of principal of and premium, if any, and interest on the Transition Bonds to such Clearing Agency Participants; and (v) whenever this Indenture requires or permits actions to be taken based upon instructions or directions of Holders of Transition Bonds evidencing a specified percentage of the Outstanding Amount of the Transition Bonds or a Series or Class thereof, the Clearing Agency shall be deemed to represent such percentage only to the extent that it has received instructions to such effect from Transition Bond Owners or Clearing Agency Participants owning or representing, respectively, such required percentage of the beneficial interest in the Transition Bonds or such Series or Class and has delivered such instructions to the Bond Trustee.

Appears in 2 contracts

Samples: Indenture (Pp&l Transition Bond Co Inc), Indenture (Pp&l Transition Bond Co Inc)

Book-Entry Transition Bonds. Unless otherwise specified in the applicable Series Supplement provides otherwise, all of the related Series Supplementof Transition Bonds shall be issued in Book-Entry Form, each Series of and the Issuer shall execute and the Indenture Trustee shall, in accordance with this Section 2.11 and the Issuer Order with respect to such Series, authenticate and deliver one or more Global Transition Bonds, upon evidencing the Transition Bonds of such Series which (i) shall be an aggregate original issuance, will principal amount equal to the aggregate original principal amount of such Transition Bonds to be issued pursuant to the applicable Issuer Order, (ii) shall be registered in the form name of a typewritten Transition Bond the Clearing Agency therefor or Transition Bonds representing the Book-Entry Transition Bondsits nominee, to which shall initially be delivered to Cede & Co., as nominee for The Depository Trust Company, the initial Clearing Agency, by, or on behalf of, (iii) shall be delivered by the Issuer. Such Transition Bond shall initially be registered on the Transition Bond Register in the name of Cede & Co., the nominee of the initial Indenture Trustee pursuant to such Clearing Agency’s or such nominee’s instructions, and no (iv) shall bear a legend substantially to the effect set forth in Exhibit A. Each Clearing Agency designated pursuant to this Section 2.11 must, at the time of its designation and at all times while it serves as Clearing Agency hereunder, be a “clearing agency” registered under the Exchange Act and any other applicable statute or regulation. No Holder of any Series of Transition Bond Owner will Bonds issued in Book-Entry Form shall receive a definitive Definitive Transition Bond representing such Transition Bond Owner's Holder’s interest in any such Transition BondBonds, except as provided in Section 2.13. Unless (and until definitiveuntil) certificated, fully registered Transition Bonds of any Series (the "Definitive Transition Bonds") have been issued to Transition Bond Owners the Holders of such Series pursuant to Section 2.132.13 or pursuant to any applicable Series Supplement relating thereto: (ia) the provisions of this Section 2.11 shall be in full force and effect; (iib) the Issuer, the Servicer, the Paying Agent, the Transition Bond Registrar and the Bond Indenture Trustee shall be entitled to may deal with the Clearing Agency for all purposes of this Indenture (including the payment making of principal of and premium, if any, and interest distributions on the Transition Bonds of such Series and the giving of instructions or directions hereunder) as the sole holder authorized representatives of the Transition Bonds, and shall have no obligation to the Transition Bond OwnersHolders of such Series; (iiic) to the extent that the provisions of this Section 2.11 conflict with any other provisions of this Indenture, the provisions of this Section 2.11 shall control; (ivd) the rights of Transition Bond Owners Holders of such Series shall be exercised only through the Clearing Agency and the Clearing Agency Participants and shall be limited to those established by law and agreements between such Transition Bond Owners Holders and the Clearing Agency or and/or the Clearing Agency Participants. Pursuant to the DTC AgreementLetter of Representations, unless and until Definitive Transition Bonds are issued pursuant to Section 2.13, the initial Clearing Agency will make book-entry transfers among the Clearing Agency Participants and receive and transmit payments distributions of principal of and premium, if any, and interest on the Book-Entry Transition Bonds to such Clearing Agency Participants; and (ve) whenever this Indenture requires or permits actions to be taken based upon instructions instruction or directions of the Holders of Transition Bonds evidencing a specified percentage of the Outstanding Amount of the any Series of Transition Bonds or a Series or Class thereofBonds, the Clearing Agency shall be deemed to represent such percentage only to the extent that it has received instructions to such effect from Transition Bond Owners or the Holders and/or the Clearing Agency Participants owning or representing, respectively, such required percentage of the beneficial interest in the such Series of Transition Bonds or such Series or Class and has delivered such instructions to a Responsible Officer of the Bond Indenture Trustee.

Appears in 2 contracts

Samples: Indenture (Aep Texas Central Co), Indenture (Aep Texas Central Co)

Book-Entry Transition Bonds. Unless otherwise specified in the related Series Supplement, each Series of Transition Bonds, upon original issuance, will be issued in the form of a typewritten Transition Bond or Transition Bonds representing the Book-Entry Transition Bonds, to be delivered to The Depository Trust Company, the initial Clearing Agency, by, or on behalf of, the Issuer. Such Transition Bond shall initially be registered on the Transition Bond Register in the name of Cede & Co., the nominee of the initial Clearing Agency, and no Transition Bond Owner will receive a definitive Transition Bond representing such Transition Bond Owner's interest in such Transition Bond, except as provided in Section 2.13. Unless and until definitive, fully registered Transition Bonds (the "Definitive Transition Bonds") have been issued to Transition Bond Owners Bondholders pursuant to Section 2.13: (ia) the provisions of this Section 2.11 shall be in full force and effect; (iib) the Transition Bond Registrar and the Bond Trustee shall be entitled to deal with the Clearing Agency for all purposes of this Indenture (including the payment of principal of and premium, if any, and interest on the Transition Bonds and the giving of instructions or directions hereunder) as the sole holder Holder of the Transition Bonds, and shall have no obligation to the Transition Bond Owners; (iiic) to the extent that the provisions of this Section 2.11 conflict with any other provisions of this Indenture, the provisions of this Section shall control; (ivd) the rights of Transition Bond Owners shall be exercised only through the Clearing Agency and shall be limited to those established by law and agreements between such Transition Bond Owners and the Clearing Agency or the Clearing Agency Participants. Pursuant to the DTC Agreement, unless and until Definitive Transition Bonds are issued pursuant to Section 2.13, the initial Clearing Agency will make book-entry transfers among the Clearing Agency Participants and receive and transmit payments of principal of and premium, if any, and interest on the Transition Bonds to such Clearing Agency Participants; and (ve) whenever this Indenture requires or permits actions to be taken based upon instructions or directions of Holders of Transition Bonds evidencing a specified percentage of the Outstanding Amount of the Transition Bonds or a Series or Class thereof, the Clearing Agency shall be deemed to represent such percentage only to the extent that it has received instructions to such effect from Transition Bond Owners or Clearing Agency Participants owning or representing, respectively, such required percentage of the beneficial interest in the Transition Bonds or such Series or Class and has delivered such instructions to the Bond Trustee.

Appears in 2 contracts

Samples: Indenture (Pse&g Transition Funding LLC), Indenture (Pse&g Transition Funding LLC)

Book-Entry Transition Bonds. Unless otherwise specified in the related Series Supplement, each Series of Transition Bonds, upon original issuance, will be issued in the form of a typewritten Transition Bond or Transition Bonds representing the Book-Entry Transition Bonds, to be delivered to The Depository Trust Company, the initial Clearing Agency, by, or on behalf of, the Issuer. Such Transition Bond shall initially be registered on the Transition Bond Register in the name of Cede & Co., the nominee of the initial Clearing Agency, and no Transition Bond Owner will receive a definitive Transition Bond representing such Transition Bond Owner's interest in such Transition Bond, except as provided in Section 2.13. Unless and until definitive, fully registered Transition Bonds (the "Definitive Transition Bonds") have been issued to Transition Bond Owners pursuant to Section 2.13: (i) the provisions of this Section shall be in full force and effect; (ii) the Transition Bond Registrar and the Bond Trustee shall be entitled to deal with the Clearing Agency for all purposes of this Indenture (including the payment of principal of and premium, if any, and interest on the Transition Bonds and the giving of instructions or directions hereunder) as the sole holder of the Transition Bonds, and shall have no obligation to the Transition Bond Owners; (iii) to the extent that the provisions of this Section conflict with any other provisions of this Indenture, the provisions of this Section shall control; (iv) the rights of Transition Bond Owners shall be exercised only through the Clearing Agency and shall be limited to those established by law and agreements between such Transition Bond Owners and the Clearing Agency or the Clearing Agency Participants. Pursuant to the DTC Agreement, unless and until Definitive Transition Bonds are issued pursuant to Section 2.13, the initial Clearing Agency will make book-book- entry transfers among the Clearing Agency Participants and receive and transmit payments of principal of and premium, if any, and interest on the Transition Bonds to such Clearing Agency Participants; and (v) whenever this Indenture requires or permits actions to be taken based upon instructions or directions of Holders of Transition Bonds evidencing a specified percentage of the Outstanding Amount of the Transition Bonds or a Series or Class thereof, the Clearing Agency shall be deemed to represent such percentage only to the extent that it has received instructions to such effect from Transition Bond Owners or Clearing Agency Participants owning or representing, respectively, such required percentage of the beneficial interest in the Transition Bonds or such Series or Class and has delivered such instructions to the Bond Trustee.

Appears in 1 contract

Samples: Indenture (West Penn Funding LLC)

Book-Entry Transition Bonds. Unless otherwise specified the Series Supplement provides otherwise, all of the Transition Bonds shall be issued in Book-Entry Form, and the related Series SupplementIssuer shall execute and the Indenture Trustee shall, each Series of in accordance with this Section 2.11 and the Issuer Order, authenticate and deliver one or more Global Transition Bonds, upon evidencing the Transition Bonds which (i) shall be an aggregate original issuance, will principal amount equal to the aggregate original principal amount of such Transition Bonds to be issued pursuant to the applicable Issuer Order, (ii) shall be registered in the form name of a typewritten Transition Bond the Clearing Agency therefor or Transition Bonds representing the Book-Entry Transition Bondsits nominee, to which shall initially be delivered to Cede & Co., as nominee for The Depository Trust Company, the initial Clearing Agency, by(iii) shall be delivered by the Indenture Trustee pursuant to such Clearing Agency’s or such nominee’s instructions, and (iv) shall bear a legend substantially to the effect set forth in Exhibit A. Each Clearing Agency designated pursuant to this Section 2.11 must, at the time of its designation and at all times while it serves as Clearing Agency hereunder, be a “clearing agency” registered under the Exchange Act and any other applicable statute or on behalf of, the Issuerregulation. Such Transition Bond shall initially be registered on No Holder of the Transition Bond Register Bonds issued in the name of Cede & Co., the nominee of the initial Clearing Agency, and no Transition Bond Owner will Book-Entry Form shall receive a definitive Definitive Transition Bond representing such Transition Bond Owner's Holder’s interest in any such Transition BondBonds, except as provided in Section 2.13. Unless (and until definitiveuntil) certificated, fully registered Transition Bonds (the "Definitive Transition Bonds") have been issued to Transition Bond Owners the Holders pursuant to Section 2.132.13 or pursuant to the Series Supplement relating thereto: (ia) the provisions of this Section 2.11 shall be in full force and effect; (iib) the Issuer, the Servicer, the Paying Agent, the Transition Bond Registrar and the Bond Indenture Trustee shall be entitled to may deal with the Clearing Agency for all purposes of this Indenture (including the payment making of principal of and premium, if any, and interest distributions on the Transition Bonds and the giving of instructions or directions hereunder) as the sole holder authorized representatives of the Transition Bonds, and shall have no obligation to the Transition Bond OwnersHolders; (iiic) to the extent that the provisions of this Section 2.11 conflict with any other provisions of this Indenture, the provisions of this Section 2.11 shall control; (ivd) the rights of Holders of the Transition Bond Owners Bonds shall be exercised only through the Clearing Agency and the Clearing Agency Participants and shall be limited to those established by law and agreements between such Transition Bond Owners Holders and the Clearing Agency or and/or the Clearing Agency Participants. Pursuant to the DTC AgreementLetter of Representations, unless and until Definitive Transition Bonds are issued pursuant to Section 2.13, the initial Clearing Agency will make book-entry transfers among the Clearing Agency Participants and receive and transmit payments distributions of principal of and premium, if any, and interest on the Book-Entry Transition Bonds to such Clearing Agency Participants; and (ve) whenever this Indenture requires or permits actions to be taken based upon instructions instruction or directions of the Holders of Transition Bonds evidencing a specified percentage of the Outstanding Amount of the Transition Bonds or a Series or Class thereofBonds, the Clearing Agency shall be deemed to represent such percentage only to the extent that it has received instructions to such effect from Transition Bond Owners or the Holders and/or the Clearing Agency Participants owning or representing, respectively, such required percentage of the beneficial interest in the Transition Bonds or such Series or Class and has delivered such instructions to a Responsible Officer of the Bond Indenture Trustee.

Appears in 1 contract

Samples: Indenture (Entergy Texas Restoration Funding, LLC)

Book-Entry Transition Bonds. Unless otherwise specified in the related Series Supplement, each Series of Transition Bonds, upon original issuance, will shall be issued in the form of a typewritten Transition Bond or Transition Bonds representing the Book-Entry Transition Bonds, to be delivered to held by the Trustee as custodian for The Depository Trust Company, the initial Clearing Agency, by, or on behalf of, except as otherwise provided in the IssuerDTC Agreement. Such Transition Bond shall initially be registered on the Transition Bond Register in the name of Cede & Co., the nominee of the initial Clearing Agency, and no Transition Bond Owner will shall receive a definitive Transition Bond representing such Transition Bond Owner's interest in such Transition Bond, Bond except as provided in Section 2.13. Unless and until definitive, fully registered Transition Bonds (the "Definitive Transition Bonds") have been issued to Transition Bond Owners Bondholders pursuant to Section 2.13: (ia) the provisions of this Section 2.11 shall be in full force and effect; (iib) the Transition Bond Registrar and the Bond Trustee shall be entitled to deal with the Clearing Agency for all purposes of this Indenture (including the payment of principal of and premium, if any, and interest on the Transition Bonds and the giving of instructions or directions hereunder) as the sole holder Holder of the Transition Bonds, and shall have no obligation to the Transition Bond Owners; (iiic) to the extent that the provisions of this Section 2.11 conflict with any other provisions of this Indenture, the provisions of this Section 2.11 shall control; (ivd) the rights of Transition Bond Owners shall be exercised only through the Clearing Agency and shall be limited to those established by law and agreements between such Transition Bond Owners and the Clearing Agency or the Clearing Agency Participants. Pursuant to the DTC Agreement, unless and until Definitive Transition Bonds are issued pursuant to Section 2.13, the initial Clearing Agency will shall make book-entry transfers among the Clearing Agency Participants and receive and transmit payments of principal of and premium, if any, and interest on the Transition Bonds to such Clearing Agency Participants; and (ve) whenever this Indenture requires or permits actions to be taken based upon instructions or directions of Holders of Transition Bonds evidencing a specified percentage of the Outstanding Amount of the Transition Bonds or a Series or Class thereof, the Clearing Agency shall be deemed to represent such percentage only to the extent that it has received instructions to such effect from Transition Bond Owners or Clearing Agency Participants owning or representing, respectively, such required percentage of the beneficial interest in the Transition Bonds or such Series or Class and has delivered such instructions to the Bond Trustee.

Appears in 1 contract

Samples: Indenture (Atlantic City Electric Transition Funding LLC)

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Book-Entry Transition Bonds. Unless otherwise specified in the related Series Supplement, each Series of Transition Bonds, upon original issuance, will shall be issued in the form of a typewritten Transition Bond or Transition Bonds representing the Book-Entry Transition Bonds, to be delivered to The Depository Trust Company, the initial Clearing Agency, by, or on behalf of, the Issuer. Such Transition Bond shall initially be registered on the Transition Bond Register in the name of Cede & Co., the nominee of the initial Clearing Agency, and no Transition Bond Owner will shall receive a definitive Transition Bond representing such Transition Bond Owner's interest in such Transition Bond, Bond except as provided in Section 2.13. Unless and until definitive, fully registered Transition Bonds (the "Definitive Transition Bonds") have been issued to Transition Bond Owners Bondholders pursuant to Section 2.13: (ia) the provisions of this Section 2.11 shall be in full force and effect; (iib) the Transition Bond Registrar and the Bond Trustee shall be entitled to deal with the Clearing Agency for all purposes of this Indenture (including the payment of principal of and premium, if any, and interest on the Transition Bonds and the giving of instructions or directions hereunder) as the sole holder Holder of the Transition Bonds, and shall have no obligation to the Transition Bond Owners; (iiic) to the extent that the provisions of this Section 2.11 conflict with any other provisions of this Indenture, the provisions of this Section shall control; (ivd) the rights of Transition Bond Owners shall be exercised only through the Clearing Agency and shall be limited to those established by law and agreements between such Transition Bond Owners and the Clearing Agency or the Clearing Agency Participants. Pursuant to the DTC Agreement, unless and until Definitive Transition Bonds are issued pursuant to Section 2.13, the initial Clearing Agency will shall make book-entry transfers among the Clearing Agency Participants and receive and transmit payments of principal of and premium, if any, and interest on the Transition Bonds to such Clearing Agency Participants; and (ve) whenever this Indenture requires or permits actions to be taken based upon instructions or directions of Holders of Transition Bonds evidencing a specified percentage of the Outstanding Amount of the Transition Bonds or a Series or Class thereof, the Clearing Agency shall be deemed to represent such percentage only to the extent that it has received instructions to such effect from Transition Bond Owners or Clearing Agency Participants owning or representing, respectively, such required percentage of the beneficial interest in the Transition Bonds or such Series or Class and has delivered such instructions to the Bond Trustee.

Appears in 1 contract

Samples: Indenture (Atlantic City Electric Transition Funding LLC)

Book-Entry Transition Bonds. Unless otherwise specified the Series Supplement provides otherwise, all of the Transition Bonds shall be issued in Book-Entry Form, and the related Series SupplementIssuer shall execute and the Indenture Trustee shall, each Series of in accordance with this Section 2.11 and the Issuer Order, authenticate and deliver one or more Global Transition Bonds, upon evidencing the Transition Bonds which (i) shall be an aggregate original issuance, will principal amount equal to the aggregate original principal amount of such Transition Bonds to be issued pursuant to the applicable Issuer Order, (ii) shall be registered in the form name of a typewritten Transition Bond the Clearing Agency therefor or Transition Bonds representing the Book-Entry Transition Bondsits nominee, to which shall initially be delivered to Cede & Co., as nominee for The Depository Trust Company, the initial Clearing Agency, by(iii) shall be delivered by the Indenture Trustee pursuant to such Clearing Agency's or such nominee's instructions, and (iv) shall bear a legend substantially to the effect set forth in Exhibit A. Each Clearing Agency designated pursuant to this Section 2.11 must, at the time of its designation and at all times while it serves as Clearing Agency hereunder, be a "clearing agency" registered under the Exchange Act and any other applicable statute or on behalf of, the Issuerregulation. Such Transition Bond shall initially be registered on No Holder of the Transition Bond Register Bonds issued in the name of Cede & Co., the nominee of the initial Clearing Agency, and no Transition Bond Owner will Book-Entry Form shall receive a definitive Definitive Transition Bond representing such Transition Bond OwnerHolder's interest in any such Transition BondBonds, except as provided in Section 2.13. Unless (and until definitiveuntil) certificated, fully registered Transition Bonds (the "Definitive Transition Bonds") have been issued to Transition Bond Owners the Holders pursuant to Section 2.13: (i) 2.13 or pursuant to the Series Supplement relating thereto: the provisions of this Section 2.11 shall be in full force and effect; (ii) ; the Issuer, the Servicer, the Paying Agent, the Transition Bond Registrar and the Bond Indenture Trustee shall be entitled to may deal with the Clearing Agency for all purposes of this Indenture (including the payment making of principal of and premium, if any, and interest distributions on the Transition Bonds and the giving of instructions or directions hereunder) as the sole holder authorized representatives of the Transition Bonds, and shall have no obligation to the Transition Bond Owners; (iii) Holders; to the extent that the provisions of this Section 2.11 conflict with any other provisions of this Indenture, the provisions of this Section 2.11 shall control; (iv) ; the rights of Holders of the Transition Bond Owners Bonds shall be exercised only through the Clearing Agency and the Clearing Agency Participants and shall be limited to those established by law and agreements between such Transition Bond Owners Holders and the Clearing Agency or and/or the Clearing Agency Participants. Pursuant to the DTC AgreementLetter of Representations, unless and until Definitive Transition Bonds are issued pursuant to Section 2.13, the initial Clearing Agency will make book-entry transfers among the Clearing Agency Participants and receive and transmit payments distributions of principal of and premium, if any, and interest on the Book-Entry Transition Bonds to such Clearing Agency Participants; and (v) and whenever this Indenture requires or permits actions to be taken based upon instructions instruction or directions of the Holders of Transition Bonds evidencing a specified percentage of the Outstanding Amount of the Transition Bonds or a Series or Class thereofBonds, the Clearing Agency shall be deemed to represent such percentage only to the extent that it has received instructions to such effect from Transition Bond Owners or the Holders and/or the Clearing Agency Participants owning or representing, respectively, such required percentage of the beneficial interest in the Transition Bonds or such Series or Class and has delivered such instructions to a Responsible Officer of the Bond Indenture Trustee.

Appears in 1 contract

Samples: Indenture (Entergy Texas Restoration Funding, LLC)

Book-Entry Transition Bonds. Unless otherwise specified in the related Series Supplement, each Series of Transition Bonds, upon original issuance, will be issued in the form of a typewritten Transition Bond or Transition Bonds representing the Book-Entry Transition Bonds, to be delivered to The Depository Trust CompanyDTC, as the initial Clearing Agency, by, or on behalf of, the Issuer. Such Transition Bond shall initially be registered on the Transition Bond Register in the name of Cede & Co., the nominee of the initial Clearing Agency, and no Transition Bond Owner will receive a definitive Transition Bond representing such Transition Bond Owner's interest in such Transition Bond, except as provided in Section 2.13. Unless and until definitive, fully registered Transition Bonds (the "Definitive Transition Bonds") have been issued to --------------------------- Transition Bond Owners Bondholders pursuant to Section 2.13: (i) the provisions of this Section shall be in full force and effect; (ii) the Transition Bond Registrar and the Bond Trustee shall be entitled to deal with the Clearing Agency for all purposes of this Indenture (including the payment of principal of and premium, if any, and interest on the Transition Bonds and the giving of instructions or directions hereunder) as the sole holder Holder of the Transition Bonds, and shall have no obligation to the Transition Bond Owners; (iii) to the extent that the provisions of this Section conflict with any other provisions of this Indenture, the provisions of this Section shall control; (iv) the rights of Transition Bond Owners shall be exercised only through the Clearing Agency and shall be limited to those established by law and agreements between such Transition Bond Owners and the Clearing Agency or the Clearing Agency Participants. Pursuant to the DTC Agreement, unless and until Definitive Transition Bonds are issued pursuant to Section 2.13, the initial Clearing Agency will make book-entry transfers among the Clearing Agency Participants and receive and transmit payments of principal of and premium, if any, and interest on the Transition Bonds to such Clearing Agency Participants; and (v) whenever this Indenture requires or permits actions to be taken based upon instructions or directions of Holders of Transition Bonds evidencing a specified percentage of the Outstanding Amount of the Transition Bonds or a Series or Class thereof, the Clearing Agency shall be deemed to represent such percentage only to the extent that it has received instructions to such effect from Transition Bond Owners or Clearing Agency Participants owning or representing, respectively, such required percentage of the beneficial interest in the Transition Bonds or such Series or Class and has delivered such instructions to the Bond Trustee.

Appears in 1 contract

Samples: Indenture (Reliant Energy Transition Bond Co LLC)

Book-Entry Transition Bonds. Unless otherwise specified in the related Series Supplement, each Series of Transition Bonds, upon original issuance, will be issued in the form of a typewritten Transition Bond or Transition Bonds representing the Book-Entry Transition Bonds, to be delivered to the Trustee as custodian for The Depository Trust Company, the initial Clearing Agency, by, or on behalf of, the Issuer. Such Transition Bond shall initially be registered on the Transition Bond Register in the name of Cede & Co., the nominee of the initial Clearing Agency, and no Transition Bond Owner will receive a definitive Transition Bond representing such Transition Bond Owner's interest in such Transition Bond, except as provided in Section 2.13. Unless and until definitive, fully registered Transition Bonds (the "Definitive Transition Bonds") have been issued to Transition Bond Owners Bondholders pursuant to Section 2.13: (ia) the provisions of this Section 2.11 shall be in full force and effect; (iib) the Transition Bond Registrar and the Bond Trustee shall be entitled to deal with the then acting Clearing Agency for all purposes of this Indenture (including the payment of principal of and premium, if any, and interest on the Transition Bonds and the giving of instructions or directions hereunder) as the sole holder Holder of the Transition Bonds, and shall have no obligation to the Transition Bond Owners; (iiic) to the extent that the provisions of this Section 2.11 conflict with any other provisions of this Indenture, the provisions of this Section 2.11 shall control; (ivd) the rights of Transition Bond Owners shall be exercised only through the then acting Clearing Agency and shall be limited to those established by law and agreements between such Transition Bond Owners and the Clearing Agency or the Clearing Agency Participants. Pursuant to the DTC Agreement, unless and until Definitive Transition Bonds are issued pursuant to Section 2.13, the initial Clearing Agency will make book-entry transfers among the Clearing Agency Participants and receive and transmit payments of principal of and premium, if any, and interest on the Transition Bonds to such Clearing Agency Participants; and (ve) whenever this Indenture requires or permits actions to be taken based upon instructions or directions of Holders of Transition Bonds evidencing a specified percentage of the Outstanding Amount of the Transition Bonds or a Series or Class thereof, the Clearing Agency shall be deemed to represent such percentage only to the extent that it has received instructions to such effect from Transition Bond Owners or Clearing Agency Participants owning or representing, respectively, such required percentage of the beneficial interest in the Transition Bonds or such Series or Class and has delivered such instructions to the Bond Trustee.

Appears in 1 contract

Samples: Indenture (Jcp&l Transition Funding LLC)

Book-Entry Transition Bonds. Unless otherwise specified in the related Series Supplement, each Series of Transition Bonds, upon original issuance, will be issued in the form of a typewritten Transition Bond or Transition Bonds representing the Book-Book- Entry Transition Bonds, to be delivered to The Depository Trust Company, the initial Clearing Agency, by, or on behalf of, the Issuer. Such Transition Bond shall initially be registered on the Transition Bond Register in the name of Cede & Co., the nominee of the initial Clearing Agency, and no Transition Bond Owner will receive a definitive Transition Bond representing such Transition Bond Owner's interest in such Transition Bond, except as provided in Section 2.13. Unless and until definitive, fully registered Transition Bonds (the "Definitive Transition Bonds") have been issued to Transition Bond Owners pursuant to Section 2.13: (i) the provisions of this Section shall be in full force and effect; (ii) the Transition Bond Registrar and the Bond Trustee shall be entitled to deal with the Clearing Agency for all purposes of this Indenture (including the payment of principal of and premium, if any, and interest on the Transition Bonds and the giving of instructions or directions hereunder) as the sole holder of the Transition Bonds, and shall have no obligation to the Transition Bond Owners; (iii) to the extent that the provisions of this Section conflict with any other provisions of this Indenture, the provisions of this Section shall control; (iv) the rights of Transition Bond Owners shall be exercised only through the Clearing Agency and shall be limited to those established by law and agreements between such Transition Bond Owners and the Clearing Agency or the Clearing Agency Participants. Pursuant to the DTC Agreement, unless and until Definitive Transition Bonds are issued pursuant to Section 2.13, the initial Clearing Agency will make book-entry transfers among the Clearing Agency Participants and receive and transmit payments of principal of and premium, if any, and interest on the Transition Bonds to such Clearing Agency Participants; and (v) whenever this Indenture requires or permits actions to be taken based upon instructions or directions of Holders of Transition Bonds evidencing a specified percentage of the Outstanding Amount of the Transition Bonds or a Series or Class thereof, the Clearing Agency shall be deemed to represent such percentage only to the extent that it has received instructions to such effect from Transition Bond Owners or Clearing Agency Participants owning or representing, respectively, such required percentage of the beneficial interest in the Transition Bonds or such Series or Class and has delivered such instructions to the Bond Trustee.

Appears in 1 contract

Samples: Indenture (Peco Energy Transition Trust)

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