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 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 15 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 E-7, Sub 1243 written notification of any proposed amendment, with a copy delivered to the Director of the Commission and the Executive Director of the Public Staff – North Carolina Utilities Commission, which notification shall contain: (A) a reference to Docket No. E-7, Sub 1243; (B) an Officer’s Certificate stating that the proposed amendment or modification has been approved by all parties to this Administration Agreement; and (C) a statement identifying the person to whom the Commission is to address any response to the proposed amendment or to request additional time. (ii) If the Commission, within 15 days of receiving a notification complying with subparagraph (i), shall have an order that the Commission might object to the proposed amendment or modification, then, subject to clause (iii) below, such proposed amendment or modification shall not be effective unless and until the Commission subsequently issues an order that it does not object to such proposed amendment or modification. (iii) If the Commission takes no action within 60 days of the filing of the notice, then such amendment or modification may subsequently become effective upon satisfaction of the other conditions specified in Section 13(a). (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 13, no amendment or modification of this Administration Agreement 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 15 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 Nuclear Asset-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 E-7, Sub 1243 delivered to the Commission’s Staff Director of Accounting & Finance written notification of any proposed amendment, with a copy delivered to the Director of the Commission and the Executive Director of the Public Staff – North Carolina Utilities Commission, which notification shall contain: (A) a reference to Docket No. E-7, Sub 1243150171-EI; (B) an Officer’s Certificate stating that the proposed amendment or modification has been approved by all parties to this Administration Agreement; and (C) a statement identifying the person to whom the Commission is to address any response to the proposed amendment or to request additional time. (ii) If the Commission or an authorized representative of the Commission, within 15 days (subject to extension as provided in clause (iii)) of receiving a notification complying with subparagraph (i), shall have delivered to the office of the person specified in clause (i)(C) a written statement that the Commission might object to the proposed amendment or modification, then, subject to clause (iv) below, such proposed amendment or modification shall not be effective unless and until the Commission subsequently delivers a written statement that it does not object to such proposed amendment or modification; or (iii) If the Commission or an authorized representative of the Commission, within 15 days of receiving a notification complying with subparagraph (i), shall have an order that the Commission might object delivered to the office of the person specified in clause (i)(C) a written statement requesting an additional amount of time not to exceed thirty days in which to consider such proposed amendment or modification, then, subject to clause (iii) below, then such proposed amendment or modification shall not be effective if, within such extended period, the Commission shall have delivered to the office of the person specified in clause (i)(C) a written statement as described in subparagraph (ii), unless and until the Commission subsequently issues an order delivers a written statement that it does not object to such proposed amendment or modification. (iiiiv) If (A) the Commission takes no action or an authorized representative of the Commission, shall not have delivered written notice that the Commission might object to such proposed amendment or modification within the time periods described in subparagraphs (ii) 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 filing delivery of the noticenotification 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 modification and such amendment or modification may subsequently become effective upon satisfaction of the other conditions specified in Section 13(a). (ivv) Following the delivery of a statement from the Commission or an order from authorized representative of 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 , modification or other action. (vi) For the Administrator delivers notice purpose of this Section 13, 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 13, no amendment or modification of this Administration Agreement 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 15 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 E-7E-2, Sub 1243 1262 written notification of any proposed amendment, with a copy delivered to the Director of the Commission and the Executive Director of the Public Staff – North Carolina Utilities Commission, which notification shall contain: (A) a reference to Docket No. E-7E-2, Sub 12431262; (B) an Officer’s Certificate stating that the proposed amendment or modification has been approved by all parties to this Administration Agreement; and (C) a statement identifying the person to whom the Commission is to address any response to the proposed amendment or to request additional time. (ii) If the Commission, within 15 days of receiving a notification complying with subparagraph (i), shall have an order that the Commission might object to the proposed amendment or modification, then, subject to clause (iii) below, such proposed amendment or modification shall not be effective unless and until the Commission subsequently issues an order that it does not object to such proposed amendment or modification. (iii) If the Commission takes no action within 60 days of the filing of the notice, then such amendment or modification may subsequently become effective upon satisfaction of the other conditions specified in Section 13(a). (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 1311.02, no amendment or modification of this Administration Agreement 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 unless the conditions precedent process set forth in this paragraph (b)Section 11.03 has been followed. (ia) At least 15 fifteen (15) days prior to the effectiveness of any such amendment or modification and after obtaining the other necessary approvals set forth in Section 13(a) 11.02 above (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 Member shall have filed in Commission docket E-7E-2, Sub 1243 1262 written notification of any proposed amendment, with a copy delivered to the Director of the Commission and the Executive Director of the Public Staff – North Carolina Utilities Commission, which notification shall contain: (Ai) a reference to Docket No. E-7E-2, Sub 12431262; (Bii) an Officer’s Certificate stating that the proposed amendment or modification has been approved by all parties to this Administration Agreement; and (Ciii) a statement identifying the person to whom the Commission or its authorized representative is to address any response to the proposed amendment or modification or to request additional time. (iib) If the Commission, within 15 days of receiving a notification complying with subparagraph (i), shall have an order that the Commission might object to the proposed amendment or modification, then, subject to clause (iiic) below, such proposed amendment or modification shall not be effective unless and until the Commission subsequently issues an order that it does not object to such proposed amendment or modification.; or (iiic) If the Commission takes no action within 60 days of the filing of the notice, then such amendment or modification may subsequently become effective upon satisfaction of the other conditions specified in Section 13(a11.03(a). (ivd) Following the delivery of an order from the Commission to the Administrator Member under subparagraph (iib), the Administrator Member and the Issuer Company 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(b11.03(b) does not obligate the Administrator to amend this Administration the Agreement as provided in the notice.

Commission Condition. Notwithstanding anything to the contrary in this Section 1311.02, no amendment or modification of this Administration Agreement 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 unless the conditions precedent process set forth in this paragraph (b)Section 11.03 has been followed. (ia) At least 15 fifteen (15) days prior to the effectiveness of any such amendment or modification and after obtaining the other necessary approvals set forth in Section 13(a) 11.02 above (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 Member shall have filed in Commission docket E-7, E-7 Sub 1243 written notification of any proposed amendment, with a copy delivered to the Director of the Commission and the Executive Director of the Public Staff – North Carolina Utilities Commission, which notification shall contain: (Ai) a reference to Docket No. E-7, Sub 1243; (Bii) an Officer’s Certificate stating that the proposed amendment or modification has been approved by all parties to this Administration Agreement; and (Ciii) a statement identifying the person to whom the Commission or its authorized representative is to address any response to the proposed amendment or modification or to request additional time. (iib) If the Commission, within 15 days of receiving a notification complying with subparagraph (i), shall have an order that the Commission might object to the proposed amendment or modification, then, subject to clause (iiic) below, such proposed amendment or modification shall not be effective unless and until the Commission subsequently issues an order that it does not object to such proposed amendment or modification.; or (iiic) If the Commission takes no action within 60 days of the filing of the notice, then such amendment or modification may subsequently become effective upon satisfaction of the other conditions specified in Section 13(a11.03(a). (ivd) Following the delivery of an order from the Commission to the Administrator Member under subparagraph (iib), the Administrator Member and the Issuer Company 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(b11.03(b) does not obligate the Administrator to amend this Administration the Agreement as provided in the notice.

Commission Condition. Notwithstanding anything to the contrary in this Section 136.01, no amendment or modification of this Administration Agreement 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 unless the conditions precedent process set forth in this paragraph (b).Section 6.02 has been followed.‌ (ia) At least 15 thirty-one (31) days prior to the effectiveness of any such amendment or modification and after obtaining the other necessary approvals set forth in Section 13(a) 6.01, (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 Seller shall have filed in Commission docket E-7, Sub 1243 delivered to the Commission's executive director and general counsel written notification of any proposed amendment, with a copy delivered to the Director of the Commission and the Executive Director of the Public Staff – North Carolina Utilities Commissionamendment or modification, which notification shall contain: (Ai) a reference to Docket No. E-7, Sub 124352710; (Bii) an Officer’s 's Certificate stating that the proposed amendment or modification has been approved by all parties to this Administration Agreement; and; (Ciii) a statement identifying the person to whom the Commission or its staff is to address any response to the proposed amendment or modification or to request additional time.; and (iv) a statement as to the possible effect of the amendment or modification on the Ongoing Costs. Any amendment submitted to the Commission pursuant to this Section 6.02 shall become effective immediately upon the later of: (i) the date proposed by the parties to the amendment or (ii) If thirty- one (31) days after such submission to the Commission, within 15 days of receiving a notification complying with subparagraph (i), shall have an order that and in either case the Commission might object shall be conclusively deemed to have consented to the proposed amendment or modification, thenunless the Commission issues an order disapproving such amendment, subject unless, within thirty (30) days of receiving the notification complying with Section 6.02(a), the Commission or its staff delivers to clause the office of the person specified in Section 6.02(a)(iii) a written statement requesting an additional amount of time not to exceed thirty (iii30) belowdays in which to consider whether to consent to the proposed amendment or modification. If the Commission or its staff requests an extension of time in the manner set forth in the preceding sentence, such then the Commission shall either provide notice of its consent or lack of consent or notice of its determination that the proposed amendment or modification shall will not under any circumstances increase Ongoing Costs to the person specified in Section 6.02(a)(iii) no later than the last day of such extension of time or be effective unless and until conclusively deemed to have consented to the Commission subsequently issues an order that it does not object to such proposed amendment or modification. (iii) If modification on the last day of such extension of time. Any amendment or modification requiring the consent of the Commission takes no action within 60 days shall become effective on the later of (i) the filing of date proposed by the notice, then parties to such amendment or modification may subsequently become effective upon satisfaction and (ii) the first day after the expiration of the other conditions specified thirty (30)-day period provided for in this Section 13(a6.02(a), or, if such period has been extended pursuant hereto, the first day after the expiration of such period as so extended. (ivb) Following the delivery of an order from a notice to the Commission to by the Administrator Seller under subparagraph (iiSection 6.02(a), the Administrator Seller and the Issuer shall have the right at any time to withdraw from the Commission further consideration of any notification of a proposed amendmentamendment or modification. The fact that Such withdrawal shall be evidenced by the Administrator delivers prompt written notice thereof by the Seller 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, the noticeIssuer and the Servicer.

Commission Condition. Notwithstanding anything to the contrary in this Section 1311.02, no amendment or modification of this Administration Agreement 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 unless the conditions precedent process set forth in this paragraph (b)Section 11.03 has been followed. (ia) At least 15 fifteen (15) days prior to the effectiveness of any such amendment or modification and after obtaining the other necessary approvals set forth in Section 13(a) 11.02 above (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) amendment), the Administrator Member shall have filed in Commission docket E-7, Sub 1243 delivered to the Commission’s Staff Director of Accounting & Finance written notification of any proposed amendment, with a copy delivered to the Director of the Commission and the Executive Director of the Public Staff – North Carolina Utilities Commissionamendment or modification, which notification shall contain: (Ai) a reference to Docket No. E-7, Sub 1243150171-EI; (Bii) an Officer’s Certificate stating that the proposed amendment or modification has been approved by all parties to this Administration Agreement; and (Ciii) a statement identifying the person to whom the Commission or its authorized representative is to address any response to the proposed amendment or modification or to request additional time. (iib) If the CommissionCommission or its staff, within 15 days (subject to extension as provided in clause (c)) of receiving a notification complying with subparagraph (ia), shall have an order delivered to the office of the person specified in clause (a)(iii) a written statement that the Commission might object to the proposed amendment or modification, then, subject to clause (iiid) below, such proposed amendment or modification shall not be effective unless and until the Commission subsequently issues an order delivers a written statement that it does not object to such proposed amendment or modification. (iiic) If the Commission takes no action or an authorized representative of the Commission, within 15 days of receiving a notification complying with subparagraph (a), shall have delivered to the office of the person specified in clause (a)(iii) a written statement requesting an additional amount of time not to exceed thirty days in which to consider such proposed amendment or modification, then such proposed amendment or modification shall not be effective if, within such extended period, the Commission shall have delivered to the office of the person specified in clause (a)(iii) a written statement as described in subparagraph (b), unless and until the Commission subsequently delivers a written statement that it does not object to such proposed amendment or modification. (d) If (i) the Commission or an authorized representative of the Commission shall not have delivered written notice that the Commission might object to such proposed amendment or modification within the time periods described in subparagraphs (b) or (c), whichever is applicable, or (ii) the Commission or an authorized representative of the Commission, has delivered such written notice but does not within 60 days of the filing delivery of the noticenotification in (a) above, provide subsequent written notice confirming that it does in fact object and the reasons therefor 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 modification and such amendment or modification may subsequently become effective upon satisfaction of the other conditions specified in Section 13(a)11.02. (ive) Following the delivery of a statement from the Commission or an order from authorized representative of the Commission to the Administrator Member under subparagraph (iib), the Administrator Member and the Issuer Company shall have the right at any time to withdraw from the Commission further consideration of any proposed amendment. The fact that Such withdrawal shall be evidenced by the Administrator delivers prompt written notice thereof by the Member to the Commission pursuant to Commission, the Indenture Trustee, each Independent Manager and the Servicer. (f) For the purpose of this Section 13(b11.03, 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) does not obligate to the Administrator to amend this Administration Agreement as provided in the noticeCommission.

Commission Condition. Notwithstanding anything to the contrary in this Section 13, no amendment or modification of this Administration Agreement 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 15 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 Nuclear Asset-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 E-7, Sub 1243 delivered to the Commission’s Staff Director of Accounting & Finance written notification of any proposed amendment, with a copy delivered to the Director of the Commission and the Executive Director of the Public Staff – North Carolina Utilities Commission, which notification shall contain: (A) a reference to Docket No. E-7, Sub 1243150148-EI; (B) an Officer’s Certificate stating that the proposed amendment or modification has been approved by all parties to this Administration Agreement; and (C) a statement identifying the person to whom the Commission is to address any response to the proposed amendment or to request additional time. (ii) If the Commission or an authorized representative of the Commission, within 15 days (subject to extension as provided in clause (iii)) of receiving a notification complying with subparagraph (i), shall have delivered to the office of the person specified in clause (i)(C) a written statement that the Commission might object to the proposed amendment or modification, then, subject to clause (iv) below, such proposed amendment or modification shall not be effective unless and until the Commission subsequently delivers a written statement that it does not object to such proposed amendment or modification; or (iii) If the Commission or an authorized representative of the Commission, within 15 days of receiving a notification complying with subparagraph (i), shall have an order that the Commission might object delivered to the office of the person specified in clause (i)(C) a written statement requesting an additional amount of time not to exceed thirty days in which to consider such proposed amendment or modification, then, subject to clause (iii) below, then such proposed amendment or modification shall not be effective if, within such extended period, the Commission shall have delivered to the office of the person specified in clause (i)(C) a written statement as described in subparagraph (ii), unless and until the Commission subsequently issues an order delivers a written statement that it does not object to such proposed amendment or modification. (iiiiv) If (A) the Commission takes no action or an authorized representative of the Commission, shall not have delivered written notice that the Commission might object to such proposed amendment or modification within the time periods described in subparagraphs (ii) 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 filing delivery of the noticenotification 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 modification and such amendment or modification may subsequently become effective upon satisfaction of the other conditions specified in Section 13(a). (ivv) Following the delivery of a statement from the Commission or an order from authorized representative of 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 , modification or other action. (vi) For the Administrator delivers notice purpose of this Section 13, 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.