Common use of Commission Condition Clause in Contracts

Commission Condition. Notwithstanding anything to the contrary in this Section 13, no amendment or modification of this Administration Agreement that the Administrator determines has a reasonably possibility to impact the rates borne by customers shall be effective, nor shall any action requiring satisfaction of this condition pursuant to Section 8(e), Section 8(f), or Section 14 of this Administration Agreement be taken or be effective except upon satisfaction of the conditions precedent in this paragraph (b). (i) At least 30 days prior to the effectiveness of any such amendment or modification and after obtaining the other necessary approvals set forth in Section 13(a) (except that the consent of the Indenture Trustee may be subject to the consent of the Holders of the Storm Recovery Bonds if such consent is required or sought by the Indenture Trustee in connection with such amendment or modification) the Administrator shall have filed in Commission docket 2023-89-E written notification of any proposed amendment, addressed to the Chief Clerk/Executive Director of the Commission with a copy delivered to the Office of Regulatory Staff and all parties of record, which notification shall contain: (A) a reference to Docket No. 2023-89-E; (B) an Officer’s Certificate stating that the proposed amendment or modification has been approved by all parties to this Administration Agreement; and (ii) description of the proposed amendment, including the purpose of such amendment. (iii) No later than 5:00 pm on the 30th business day after receipt of notice of a proposed amendment complying with subparagraph (i), the Commission shall issue an order either (i) approving the proposed amendment or (ii) preventing the adoption of such amendment or modification. (iv) Following the delivery of an order from the Commission to the Administrator under subparagraph (ii), the Administrator and the Issuer shall have the right at any time to withdraw from the Commission further consideration of any proposed amendment. The fact that the Administrator delivers notice to the Commission pursuant to this Section 13(b) does not obligate the Administrator to amend this Administration Agreement as provided in the notice.

Commission Condition. Notwithstanding anything to the contrary in this Section 139.01 or 9.02, no amendment supplemental indenture or modification of this Administration Agreement other action to waive a default hereunder that the Administrator Issuer determines has a reasonably reasonable possibility to impact the rates borne by customers customers, shall be effective, nor shall any action requiring satisfaction of this condition pursuant to Section 8(e), Section 8(f), or Section 14 of this Administration Agreement be taken or be effective except upon satisfaction of the conditions precedent in this paragraph (b)Section 9.03. (ia) At least 30 days prior to the effectiveness of any such amendment Supplemental Indenture or modification other action and after obtaining the other necessary approvals set forth in Section 13(a) 9.02 (except that the consent of the Indenture Trustee may be subject to the consent of the Holders of the Storm Recovery Bonds if such consent is required or sought by the Indenture Trustee in connection with such amendment Supplemental Indenture) or modification) prior to the Administrator effectiveness of any waiver of a default approved by the Holders of a majority of the Outstanding Amount of Storm Recovery Bonds as provided in Section 5.12, the Servicer shall have filed in Commission docket 2023-89-E written notification of any proposed amendmentindenture or indentures supplemental or waiver of such default, addressed to the Chief Clerk/Executive Director of the Commission with a copy delivered to the Office of Regulatory Staff and all parties of record, which notification shall contain: (Ai) a reference to Docket No. 2023-89-E; (Bii) an Officer’s Certificate stating that the proposed amendment or modification Supplemental Indenture has been approved by all parties to this Administration AgreementIndenture or alternatively, the waiver of default has been approved by the Holders of a majority of the Outstanding Amount of Storm Recovery Bonds; and (iiiii) a description of the proposed amendmentsupplemental indenture, including the purpose of such amendmentSupplemental Indenture or the waiver of default. (iiib) No later than 5:00 pm on the 30th business day after receipt of notice of a proposed amendment supplemental indenture complying with subparagraph (i), the Commission shall issue an order either (i) approving the proposed amendment Supplemental Indenture or waiver of default or (ii) preventing the adoption of such amendment supplemental indenture or modificationwaiver of default. (ivc) Following the delivery of an order from the Commission to the Administrator Servicer under subparagraph paragraph (iib), the Administrator Servicer and the Issuer shall have the right at any time to withdraw from the Commission further consideration of any proposed amendmentSupplemental Indenture, modification or waiver of default. The fact that the Administrator Servicer delivers notice to the Commission pursuant to this Section 13(b) 9.03 does not obligate the Administrator Servicer to amend this Administration Agreement the Indenture as provided in the notice.

Commission Condition. Notwithstanding anything to the contrary in this Section 139.01 or 9.02, no amendment indenture or modification of indentures supplemental to this Administration Agreement that the Administrator determines has a reasonably possibility to impact the rates borne by customers Indenture, shall be effective, nor shall any action requiring satisfaction of this condition pursuant to Section 8(e), Section 8(f), or Section 14 of this Administration Agreement be taken or be effective except upon satisfaction of the conditions precedent in this paragraph (b)Section 9.03. (ia) At least 30 15 days prior to the effectiveness of any such amendment Supplemental Indenture or modification other action and after obtaining the other necessary approvals set forth in Section 13(a) 9.02 (except that the consent of the Indenture Trustee may be subject to the consent of the Holders of the Storm Recovery Bonds if such consent is required or sought by the Indenture Trustee in connection with such amendment Supplemental Indenture) or modification) prior to the Administrator effectiveness of any waiver of a default approved by the Holders of a majority of the Outstanding Amount of Storm Recovery Bonds as provided in Section 5.12, the Servicer shall have filed in Commission docket 2023-89-E E-2, Sub 1262 written notification of any proposed amendment, addressed to the Chief Clerk/Executive Director of the Commission with a copy delivered to the Office Director of Regulatory the Commission and the Executive Director of the Public Staff and all parties of record– North Carolina Utilities Commission, which notification shall contain: (Ai) a reference to Docket No. 2023-89-EE-2, Sub 1262; (Bii) an Officer’s Certificate stating that the proposed amendment or modification Supplemental Indenture has been approved by all parties to this Administration AgreementIndenture or alternatively, the waiver of default has been approved by the Holders of a majority of the Outstanding Amount of Storm Recovery Bonds; and (iiiii) description of a statement identifying the person to whom the Commission is to address any response to the proposed amendment, including the purpose of such amendmentSupplemental Indenture or to request additional time. (iiib) No later than 5:00 pm on If the 30th business day after receipt Commission, within 15 days (subject to extension as provided in Section 9.03(c)) of notice of receiving a proposed amendment notification complying with subparagraph (iSection 9.03(a), shall have issued an order that the Commission shall issue an order either might object to the proposed Supplemental Indenture, or to the waiver of default, then, subject to clause (ic) approving the below, such proposed amendment or modification, or the waiver of default, shall not be effective unless and until the Commission subsequently issues an order that it does not object to such proposed Supplemental Indenture. (iic) preventing If the adoption Commission takes no action within 60 days of the filing of the notice, then such amendment or modificationmodification or waiver of default, as the case may be, may subsequently become effective upon satisfaction of the other conditions specified in Section 9.01 or 9.02. (ivd) Following the delivery of an order from the Commission to the Administrator Servicer under subparagraph (iiiii), the Administrator Servicer and the Issuer shall have the right at any time to withdraw from the Commission further consideration of any proposed amendmentSupplemental Indenture, modification or waiver of default. The fact that the Administrator Servicer delivers notice to the Commission pursuant to this Section 13(b) 9.03 does not obligate the Administrator Servicer to amend this Administration Agreement the Indenture as provided in the notice.

Commission Condition. Notwithstanding anything to the contrary in this Section 139.01 or 9.02, no amendment indenture or modification of indentures supplemental to this Administration Agreement that the Administrator determines has a reasonably possibility to impact the rates borne by customers Indenture, shall be effective, nor shall any action requiring satisfaction of this condition pursuant to Section 8(e), Section 8(f), or Section 14 of this Administration Agreement be taken or be effective except upon satisfaction of the conditions precedent in this paragraph (b)Section 9.03. (ia) At least 30 15 days prior to the effectiveness of any such amendment Supplemental Indenture or modification other action and after obtaining the other necessary approvals set forth in Section 13(a) 9.02 (except that the consent of the Indenture Trustee may be subject to the consent of the Holders of the Storm Recovery Bonds if such consent is required or sought by the Indenture Trustee in connection with such amendment Supplemental Indenture) or modification) prior to the Administrator effectiveness of any waiver of a default approved by the Holders of a majority of the Outstanding Amount of Storm Recovery Bonds as provided in Section 5.12, the Servicer shall have filed in Commission docket 2023-89-E E-7 Sub 1243 written notification of any proposed amendment, addressed to the Chief Clerk/Executive Director of the Commission with a copy delivered to the Office Director of Regulatory the Commission and the Executive Director of the Public Staff and all parties of record– North Carolina Utilities Commission, which notification shall contain: (Ai) a reference to Docket No. 2023-89-EE-7, Sub 1243; (Bii) an Officer’s Certificate stating that the proposed amendment or modification Supplemental Indenture has been approved by all parties to this Administration AgreementIndenture or alternatively, the waiver of default has been approved by the Holders of a majority of the Outstanding Amount of Storm Recovery Bonds; and (iiiii) description of a statement identifying the person to whom the Commission is to address any response to the proposed amendment, including the purpose of such amendmentSupplemental Indenture or to request additional time. (iiib) No later than 5:00 pm on If the 30th business day after receipt Commission, within 15 days (subject to extension as provided in Section 9.03(c)) of notice of receiving a proposed amendment notification complying with subparagraph (iSection 9.03(a), shall have issued an order that the Commission shall issue an order either might object to the proposed Supplemental Indenture, or to the waiver of default, then, subject to clause (ic) approving the below, such proposed amendment or modification, or the waiver of default, shall not be effective unless and until the Commission subsequently issues an order that it does not object to such proposed Supplemental Indenture. (iic) preventing If the adoption Commission takes no action within 60 days of the filing of the notice, then such amendment or modificationmodification or waiver of default, as the case may be, may subsequently become effective upon satisfaction of the other conditions specified in Section 9.01 or 9.02. (ivd) Following the delivery of an order from the Commission to the Administrator Servicer under subparagraph (iiiii), the Administrator Servicer and the Issuer shall have the right at any time to withdraw from the Commission further consideration of any proposed amendmentSupplemental Indenture, modification or waiver of default. The fact that the Administrator Servicer delivers notice to the Commission pursuant to this Section 13(b) 9.03 does not obligate the Administrator Servicer to amend this Administration Agreement the Indenture as provided in the notice.

Commission Condition. Notwithstanding anything to the contrary in this Section 139.01 or 9.02, no amendment indenture or modification of indentures supplemental to this Administration Agreement that the Administrator determines has a reasonably possibility to impact the rates borne by customers shall be effectiveIndenture, nor any waiver required by Section 5.12 hereof, shall any action requiring satisfaction of this condition pursuant to Section 8(e), Section 8(f), or Section 14 of this Administration Agreement be taken or be effective except upon satisfaction of the conditions precedent in this paragraph (b)Section 9.03. (ia) At least 30 15 days prior to the effectiveness of any such amendment Supplemental Indenture or modification other action and after obtaining the other necessary approvals set forth in Section 13(a) 9.02 (except that the consent of the Indenture Trustee may be subject to the consent of the Holders of the Storm Recovery Bonds if such consent is required or sought by the Indenture Trustee in connection with such amendment Supplemental Indenture) or modification) prior to the Administrator effectiveness of any waiver of a default approved by the Holders of a majority of the Outstanding Amount of all Series of Nuclear Asset-Recovery Bonds as provided in Section 5.12, the Servicer shall have filed in Commission docket 2023-89-E delivered to the Commission’s Staff Director of Accounting & Finance written notification of any proposed amendment, addressed to the Chief Clerk/Executive Director of the Commission with a copy delivered to the Office of Regulatory Staff and all parties of record, which notification shall contain: (Ai) a reference to Docket No. 2023150148-89-EEI; (Bii) an Officer’s Certificate stating that the proposed amendment or modification Supplemental Indenture has been approved by all parties to this Administration AgreementIndenture or alternatively, the waiver of default has been approved by the Holders of a majority of the Outstanding Amount of Nuclear Asset-Recovery Bonds of all Series; and (iiiii) description of a statement identifying the person to whom the Commission is to address any response to the proposed amendment, including the purpose of such amendmentSupplemental Indenture or to request additional time. (iiib) No later than 5:00 pm on If the 30th business day after receipt Commission or an authorized representative of notice the Commission, within 15 days (subject to extension as provided in Section 9.03(c)) of receiving a notification complying with Section 9.03(a), shall have delivered to the office of the person specified in Section 9.03(a)(iii) a written statement that the Commission might object to the proposed Supplemental Indenture, or to the waiver of default, then, subject to clause (d) below, such proposed amendment or modification, or the waiver of default, shall not be effective unless and until the Commission subsequently delivers a written statement that it does not object to such proposed Supplemental Indenture. (c) If the Commission or an authorized representative of the Commission, within 15 days of receiving a notification complying with Section 9.03(a), shall have delivered to the office of the person specified in Section 9.03(a)(iii) a written statement requesting an additional amount of time not to exceed thirty days (or, in the case of a waiver of default, 15 days) in which to consider such proposed amendment complying with subparagraph (i)Supplemental Indenture, then such proposed Supplemental Indenture shall not be effective if, within such extended period, the Commission shall issue have delivered to the office of the person specified in clause (d) below a written statement as described in subparagraph (iii), unless and until the Commission subsequently delivers a written statement that it does not object to such proposed Supplemental Indenture. (d) If (A) the Commission or an order either authorized representative of the Commission, shall not have delivered written notice that the Commission might object to such proposed Supplemental Indenture, or the waiver of default, within the time periods described in subparagraphs (iiii) approving or (iii), whichever is applicable, or (B) the Commission or authorized representative of the Commission, has delivered such written notice but does not within 60 days of the delivery of the notification in (a) above, provide subsequent written notice confirming that it does in fact object and the reasons therefore or advise that it has initiated a proceeding to determine what action it might take with respect to the matter, then the Commission shall be conclusively deemed not to have any objection to the proposed amendment or (ii) preventing modification or waiver of default, as the adoption of case may be, and such amendment or modificationmodification or waiver of default, as the case may be, may subsequently become effective upon satisfaction of the other conditions specified in Section 9.01 or 9. (ive) Following the delivery of a statement from the Commission or an order from authorized representative of the Commission to the Administrator Servicer under subparagraph (iiiii), the Administrator Servicer and the Issuer shall have the right at any time to withdraw from the Commission further consideration of any proposed amendment. The fact that Supplemental Indenture, modification or waiver of default. (f) For the Administrator delivers notice purpose of this Section 9.03, an “authorized representative of the Commission” means any person authorized to act on behalf of the Commission, as evidenced by an Opinion of Counsel (which may be the general counsel) to the Commission pursuant to Commission. (g) For the avoidance of doubt, this Section 13(b) does shall not obligate the Administrator apply to amend this Administration Agreement as provided Series Supplements prepared in the noticeaccordance with Section 9.01(a)(x).

Commission Condition. Notwithstanding anything to the contrary in Section 9.01 or 9.02, no supplemental indenture (other than the Series Supplement) that would result in an increase to Ongoing Financing Costs shall be effective unless the process set forth in this Section 13, no amendment or modification of this Administration Agreement that the Administrator determines 9.03 has a reasonably possibility to impact the rates borne by customers shall be effective, nor shall any action requiring satisfaction of this condition pursuant to Section 8(e), Section 8(f), or Section 14 of this Administration Agreement be taken or be effective except upon satisfaction of the conditions precedent in this paragraph (b)been followed. (ia) At least 30 thirty-one (31) days prior to the effectiveness of any such amendment or modification supplemental indenture and after obtaining the other necessary approvals set forth in Section 13(a) (9.01 or 9.02, as applicable, except that for the consent of the Indenture Trustee may be subject to and the Holders if the consent of the Holders of the Storm Recovery Bonds if such consent is required or sought by the Indenture Trustee in connection with such amendment or modification) supplemental indenture, the Administrator Issuer shall have filed in Commission docket 2023-89-E delivered to the Commission’s executive secretary and general counsel written notification of any proposed amendment, addressed to the Chief Clerk/Executive Director of the Commission with a copy delivered to the Office of Regulatory Staff and all parties of recordsupplemental indenture, which notification shall contain: (Ai) a reference to Docket Case No. 202312-891188-E-PC; (Bii) an Officer’s Certificate stating that the proposed amendment or modification supplemental indenture has been approved by all parties to this Administration AgreementIndenture; and (iii) a statement identifying the person to whom the Commission or its authorized representative is to address any response to the proposed supplemental indenture or to request additional time. (b) The Commission or its authorized representative shall, within thirty (30) days of receiving the notification complying with Section 9.03(a) above, either: (i) provide notice of its determination that the proposed supplemental indenture will not under any circumstances have the effect of increasing the Ongoing Financing Costs, (ii) description provide notice of its consent or lack of consent to the proposed amendmentperson specified in Section 9.03(a)(iii) above, including the purpose of such amendment.or (iii) No later than 5:00 pm on be conclusively deemed to have consented to the 30th business day after receipt proposed supplemental indenture, unless, within thirty (30) days of notice of a proposed amendment receiving the notification complying with subparagraph (i)Section 9.03(a) above, the Commission or its authorized representative delivers to the office of the person specified in Section 9.03(a)(iii) above a written statement requesting an additional amount of time not to exceed thirty (30) days in which to consider whether to consent to the proposed supplemental indenture. If the Commission or its authorized representative requests an extension of time in the manner set forth in the preceding sentence, then the Commission shall issue an order either provide notice of its consent or lack of consent or notice of its determination that the proposed supplemental indenture will not under any circumstances increase Ongoing Financing Costs to the person specified in Section 9.03(a)(iii) above no later than the last day of such extension of time or be conclusively deemed to have consented to the proposed supplemental indenture on the last day of such extension of time. Any supplemental indenture requiring the consent of the Commission shall become effective on the later of (i) approving the date proposed amendment or by the parties to such supplemental indenture and (ii) preventing the adoption first day after the expiration of the thirty day period provided for in this Section 9.03(b), or, if such period has been extended pursuant hereto, the first day after the expiration of such amendment or modificationperiod as so extended. (ivc) Following the delivery of an order from a notice to the Commission to by the Administrator Issuer under subparagraph (ii)Section 9.03(a) above, the Administrator and the Issuer shall have the right at any time to withdraw from the Commission further consideration of any notification of a proposed amendmentsupplemental indenture. The fact that Such withdrawal shall be evidenced by the Administrator delivers prompt written notice thereof by the Issuer to the Commission pursuant to Commission, the Indenture Trustee and the Servicer. (d) For the purpose of this Section 13(b) does not obligate 9.03, an “authorized representative” of the Administrator Commission means any person authorized to amend this Administration Agreement as provided in act on behalf of the noticeCommission.

Commission Condition. Notwithstanding anything to the contrary in this Section 139.01 or 9.02, no amendment indenture or modification of indentures supplemental to this Administration Agreement that the Administrator determines has a reasonably possibility to impact the rates borne by customers shall be effectiveIndenture, nor any waiver required by Section 5.12 hereof, shall any action requiring satisfaction of this condition pursuant to Section 8(e), Section 8(f), or Section 14 of this Administration Agreement be taken or be effective except upon satisfaction of the conditions precedent in this paragraph (b)Section 9.03. (ia) At least 30 15 days prior to the effectiveness of any such amendment Supplemental Indenture or modification other action and after obtaining the other necessary approvals set forth in Section 13(a) 9.02 (except that the consent of the Indenture Trustee may be subject to the consent of the Holders of the Storm Recovery Bonds Bondholders if such consent is required or sought by the Indenture Trustee in connection with such amendment Supplemental Indenture) or modification) prior to the Administrator effectiveness of any waiver of a default approved by the Holders of a majority of the Outstanding Amount of Bonds as provided in Section 5.12, the Servicer shall have filed in Commission docket 2023-89-E delivered to the Commission's executive director and general counsel written notification of any proposed amendment, addressed to the Chief Clerk/Executive Director of the Commission with a copy delivered to the Office of Regulatory Staff and all parties of record, which notification shall contain: (Ai) a reference to Docket No. 2023060038-89-EEI; (Bii) an Officer’s 's Certificate stating that the proposed amendment or modification Supplemental Indenture has been approved by all parties to this Administration AgreementIndenture or alternatively, the waiver of default has been approved by the Holders of a majority of the Outstanding Amount of Bonds; and (iiiii) description of a statement identifying the person to whom the Commission is to address any response to the proposed amendment, including the purpose of such amendmentSupplemental Indenture or to request additional time. (iiib) No later than 5:00 pm on If the 30th business day after receipt Commission or an authorized representative of notice the Commission, within 15 days (subject to extension as provided in Section 9.03(c)) of receiving a notification complying with Section 9.03(a), shall have delivered to the office of the person specified in Section 9.03(a)(iii) a written statement that the Commission might object to the proposed Supplemental Indenture, or to the waiver of default, then, subject to clause (d) below, such proposed amendment or modification, or the waiver of default, shall not be effective unless and until the Commission subsequently delivers a written statement that it does not object to such proposed Supplemental Indenture. (c) If the Commission or an authorized representative of the Commission, within 15 days of receiving a notification complying with Section 9.03(a), shall have delivered to the office of the person specified in Section 9.03(a)(iii) a written statement requesting an additional amount of time not to exceed thirty days (or, in the case of a waiver of default, 15 days) in which to consider such proposed amendment complying with subparagraph (i)Supplemental Indenture, then such proposed Supplemental Indenture shall not be effective if, within such extended period, the Commission shall issue have delivered to the office of the person specified in clause (d) below a written statement as described in subparagraph (iii), unless and until the Commission subsequently delivers a written statement that it does not object to such proposed Supplemental Indenture. (d) If (A) the Commission or an order either authorized representative of the Commission, shall not have delivered written notice that the Commission might object to such proposed Supplemental Indenture, or the waiver of default, within the time periods described in subparagraphs (iiii) approving or (iii), whichever is applicable, or (B) the Commission or authorized representative of the Commission, has delivered such written notice but does not within 60 days of the delivery of the notification in (a) above, provide subsequent written notice confirming that it does in fact object and the reasons therefore or advise that it has initiated a proceeding to determine what action it might take with respect to the matter, then the Commission shall be conclusively deemed not to have any objection to the proposed amendment or (ii) preventing modification or waiver of default, as the adoption of case may be, and such amendment or modificationmodification or waiver of default, as the case may be, may subsequently become effective upon satisfaction of the other conditions specified in Section 9.01 or 9. (ive) Following the delivery of a statement from the Commission or an order from authorized representative of the Commission to the Administrator Servicer under subparagraph (iiiii), the Administrator Servicer and the Issuer shall have the right at any time to withdraw from the Commission further consideration of any proposed amendment. The fact that Supplemental Indenture, modification or waiver of default. (f) For the Administrator delivers notice purpose of this Section 9.03, an "authorized representative of the Commission" means any person authorized to act on behalf of the Commission, as evidenced by an Opinion of Counsel (which may be the general counsel) to the Commission pursuant to this Section 13(b) does not obligate the Administrator to amend this Administration Agreement as provided in the noticeCommission.

Commission Condition. Notwithstanding anything to the contrary in this Section 139.01 or 9.02, no amendment indenture or modification of indentures supplemental to this Administration Agreement that the Administrator determines has a reasonably possibility to impact the rates borne by customers shall be effectiveIndenture, nor any waiver required by Section 5.12 hereof, shall any action requiring satisfaction of this condition pursuant to Section 8(e), Section 8(f), or Section 14 of this Administration Agreement be taken or be effective except upon satisfaction of the conditions precedent in this paragraph (b)Section 9.03. (ia) At least 30 15 days prior to the effectiveness of any such amendment Supplemental Indenture or modification other action and after obtaining the other necessary approvals set forth in Section 13(a) 9.02 (except that the consent of the Indenture Trustee may be subject to the consent of the Holders of the Storm Recovery Bonds Bondholders if such consent is required or sought by the Indenture Trustee in connection with such amendment Supplemental Indenture) or modification) prior to the Administrator effectiveness of any waiver of a default approved by the Holders of a majority of the Outstanding Amount of Bonds as provided in Section 5.12, the Servicer shall have filed in Commission docket 2023-89-E delivered to the Commission's executive director and general counsel written notification of any proposed amendment, addressed to the Chief Clerk/Executive Director of the Commission with a copy delivered to the Office of Regulatory Staff and all parties of record, which notification shall contain: : (Ai) a reference to Docket No. 2023060038-89-E; EI; (Bii) an Officer’s 's Certificate stating that the proposed amendment or modification Supplemental Indenture has been approved by all parties to this Administration Agreement; and (ii) description Indenture or alternatively, the waiver of default has been approved by the Holders of a majority of the Outstanding Amount of Bonds; and (iii) a statement identifying the person to whom the Commission is to address any response to the proposed amendment, including the purpose of such amendmentSupplemental Indenture or to request additional time. (iiib) No later than 5:00 pm on If the 30th business day after receipt Commission or an authorized representative of notice the Commission, within 15 days (subject to extension as provided in Section 9.03(c)) of receiving a notification complying with Section 9.03(a), shall have delivered to the office of the person specified in Section 9.03(a)(iii) a written statement that the Commission might object to the proposed Supplemental Indenture, or to the waiver of default, then, subject to clause (d) below, such proposed amendment or modification, or the waiver of default, shall not be effective unless and until the Commission subsequently delivers a written statement that it does not object to such proposed Supplemental Indenture. (c) If the Commission or an authorized representative of the Commission, within 15 days of receiving a notification complying with Section 9.03(a), shall have delivered to the office of the person specified in Section 9.03(a)(iii) a written statement requesting an additional amount of time not to exceed thirty days (or, in the case of a waiver of default, 15 days) in which to consider such proposed amendment complying with subparagraph (i)Supplemental Indenture, then such proposed Supplemental Indenture shall not be effective if, within such extended period, the Commission shall issue have delivered to the office of the person specified in clause (d) below a written statement 56 <PAGE> as described in subparagraph (iii), unless and until the Commission subsequently delivers a written statement that it does not object to such proposed Supplemental Indenture. (d) If (A) the Commission or an order either authorized representative of the Commission, shall not have delivered written notice that the Commission might object to such proposed Supplemental Indenture, or the waiver of default, within the time periods described in subparagraphs (iiii) approving or (iii), whichever is applicable, or (B) the Commission or authorized representative of the Commission, has delivered such written notice but does not within 60 days of the delivery of the notification in (a) above, provide subsequent written notice confirming that it does in fact object and the reasons therefore or advise that it has initiated a proceeding to determine what action it might take with respect to the matter, then the Commission shall be conclusively deemed not to have any objection to the proposed amendment or (ii) preventing modification or waiver of default, as the adoption of case may be, and such amendment or modificationmodification or waiver of default, as the case may be, may subsequently become effective upon satisfaction of the other conditions specified in Section 9.01 or 9. (ive) Following the delivery of a statement from the Commission or an order from authorized representative of the Commission to the Administrator Servicer under subparagraph (iiiii), the Administrator Servicer and the Issuer shall have the right at any time to withdraw from the Commission further consideration of any proposed amendment. The fact that Supplemental Indenture, modification or waiver of default. (f) For the Administrator delivers notice purpose of this Section 9.03, an "authorized representative of the Commission" means any person authorized to act on behalf of the Commission, as evidenced by an Opinion of Counsel (which may be the general counsel) to the Commission pursuant to this Section 13(b) does not obligate the Administrator to amend this Administration Agreement as provided in the noticeCommission.

Commission Condition. Notwithstanding anything to the contrary in Section‌ 9.01 or 9.02, no supplemental indenture (other than the Series Supplement) shall be effective unless the process set forth in this Section 13, no amendment or modification of this Administration Agreement that the Administrator determines 9.03 has a reasonably possibility to impact the rates borne by customers shall be effective, nor shall any action requiring satisfaction of this condition pursuant to Section 8(e), Section 8(f), or Section 14 of this Administration Agreement be taken or be effective except upon satisfaction of the conditions precedent in this paragraph (b)been followed. (ia) At least 30 thirty-one (31) days prior to the effectiveness of any such amendment or modification supplemental indenture and after obtaining the other necessary approvals set forth in Section 13(a) (9.01 or 9.02, as applicable, except that for the consent of the Indenture Trustee may be subject to and the Holders if the consent of the Holders of the Storm Recovery Bonds if such consent is required or sought by the Indenture Trustee in connection with such amendment or modification) supplemental indenture, the Administrator Issuer shall have filed in Commission docket 2023-89-E delivered to the Commission's executive director and general counsel written notification of any proposed amendment, addressed to the Chief Clerk/Executive Director of the Commission with a copy delivered to the Office of Regulatory Staff and all parties of recordsupplemental indenture, which notification shall contain: (Ai) a reference to Docket No. 2023-89-E52710; (Bii) an Officer’s 's Certificate stating that the proposed amendment or modification supplemental indenture has been approved by all parties to this Administration AgreementIndenture; and (iii) a statement identifying the person to whom the Commission or its staff is to address any response to the proposed supplemental indenture or to request additional time. (b) The Commission or its staff shall, within thirty (30) days of receiving the notification complying with Section 9.03(a) above, either: (i) provide notice of its determination that the proposed supplemental indenture will not under any circumstances have the effect of increasing the Ongoing Costs related to the Texas Stabilization N Bonds, (ii) description provide notice of its consent or lack of consent to the proposed amendmentperson specified in Section 9.03(a)(iii) above, including the purpose of such amendment.or (iii) No later than 5:00 pm on be conclusively deemed to have consented to the 30th business day after receipt proposed supplemental indenture, unless, within thirty (30) days of notice of a proposed amendment receiving the notification complying with subparagraph (i)Section 9.03(a) above, the Commission or its staff delivers to the office of the person specified in Section 9.03(a)(iii) above a written statement requesting an additional amount of time not to exceed thirty (30) days in which to consider whether to consent to the proposed supplemental indenture. If the Commission or its staff requests an extension of time in the manner set forth in the preceding sentence, then the Commission shall issue an order either provide notice of its consent or lack of consent or notice of its determination that the proposed supplemental indenture will not under any circumstances increase Ongoing Costs to the person specified in Section 9.03(a)(iii) above no later than the last day of such extension of time or be conclusively deemed to have consented to the proposed supplemental indenture on the last day of such extension of time. Any supplemental indenture requiring the consent of the Commission shall become effective on the later of (i) approving the date proposed amendment or by the parties to such supplemental indenture and (ii) preventing the adoption first day after the expiration of the thirty (30) day period provided for in this Section 9.03(b), or, if such period has been extended pursuant hereto, the first day after the expiration of such amendment or modificationperiod as so extended. (ivc) Following the delivery of an order from a notice to the Commission to by the Administrator Issuer under subparagraph (ii)Section 9.03(a) above, the Administrator and the Issuer shall have the right at any time to withdraw from the Commission further consideration of any notification of a proposed amendmentsupplemental indenture. The fact that Such withdrawal shall be evidenced by the Administrator delivers prompt written notice thereof by the Issuer to the Commission pursuant to this Section 13(b) does not obligate Commission, the Administrator to amend this Administration Agreement as provided in Indenture Trustee and the noticeServicer.