Compensation of Member. To the extent permitted by applicable law, the Company shall have authority to reimburse the Member for out-of-pocket expenses incurred by the Member in connection with its service to the Company. It is understood that the compensation paid to the Member under the provisions of this Section 4.02 shall be determined without regard to the income of the Company, shall not, to the fullest extent permitted by law, be deemed to constitute distributions to the recipient of any profit, loss or capital of the Company and shall be considered as an Operating Expense.
Appears in 20 contracts
Samples: Limited Liability Company Agreement (PG&E Recovery Funding LLC), Limited Liability Company Agreement (Evergy Missouri West Storm Funding I, LLC), Limited Liability Company Agreement (Evergy Missouri West Storm Funding I, LLC)
Compensation of Member. To the extent permitted by applicable law, the The Company shall have authority to reimburse pay to the Member reasonable compensation for out-of-pocket expenses incurred by the Member in connection with its service Member's services to the Company. It is understood that the compensation paid to the Member under the provisions of this Section 4.02 shall be determined without regard to the income of the Company, shall not, to the fullest extent permitted by law, not be deemed to constitute distributions to the recipient of any profit, loss or capital of the Company and shall be considered as an Operating Expenseoperating expense of the Company.
Appears in 13 contracts
Samples: Limited Liability (Pp&l Transition Bond Co Inc), Limited Liability Company Agreement (Atlantic City Electric Transition Funding LLC), Limited Liability Company Agreement (PSE&G Transition Funding II LLC)
Compensation of Member. To the extent permitted by applicable law, the Company shall have authority to reimburse the Member for out-of-pocket expenses incurred by the Member in connection with its service to the Company. It is understood that the compensation paid to the Member under the provisions of this Section 4.02 shall be determined without regard to the income of the Company, shall not, to the fullest extent permitted by law, not be deemed to constitute distributions to the recipient of any profit, loss or capital of the Company and shall be considered as an a fixed Operating ExpenseExpense of the Company subject to the limitations on such expenses set forth in the Financing Order.
Appears in 13 contracts
Samples: Limited Liability Company Agreement (AEP Texas Restoration Funding LLC), Limited Liability Company Operating Agreement (Entergy New Orleans Inc), Limited Liability Company Agreement (AEP Transition Funding III LLC)
Compensation of Member. To the extent permitted by applicable law, the Company shall have authority to reimburse the Member for out-of-pocket expenses incurred by the Member in connection with its service to the Company. It is understood that the compensation paid to the Member under the provisions of this Section 4.02 shall be determined without regard to the income of the Company, shall not, to the fullest extent permitted by law, not be deemed to constitute distributions to the recipient of any profit, loss or capital of the Company and shall be considered as an Operating ExpenseOngoing Financing Cost of the Company subject to the limitations on such expenses set forth in the Financing Order.
Appears in 6 contracts
Samples: Limited Liability Company Agreement (Duke Energy Carolinas NC Storm Funding LLC), Limited Liability Company Agreement (Duke Energy Progress NC Storm Funding LLC), Limited Liability Company Agreement (Duke Energy Progress NC Storm Funding LLC)
Compensation of Member. To the extent permitted by applicable lawlaw and the Basic Documents, the Company shall have authority to reimburse the Member for out-of-pocket expenses incurred by the Member in connection with its service to the Company. It is understood that the compensation paid to the Member under the provisions of this Section 4.02 shall be determined without regard to the income of the Company, shall not, to the fullest extent permitted by law, not be deemed to constitute distributions to the recipient of any profit, loss or capital of the Company and shall be considered as an Operating ExpenseOngoing Financing Cost of the Company subject to the limitations on such expenses set forth in the Financing Order.
Appears in 5 contracts
Samples: Limited Liability Company Agreement (PNM Energy Transition Bond Co I, LLC), Limited Liability Company Agreement (PNM Energy Transition Bond Co I, LLC), Limited Liability Company Agreement (PNM Energy Transition Bond Co I, LLC)
Compensation of Member. To the extent permitted by applicable law, the The Company shall have authority to reimburse pay to the Member reasonable compensation for out-of-pocket expenses incurred by the Member in connection with its service Member’s services to the Company. It is understood that the compensation paid to the Member under the provisions of this Section 4.02 5.01 shall be determined without regard to the income of the Company, shall not, to the fullest extent permitted by law, not be deemed to constitute distributions to the recipient of any profit, loss or capital of the Company and shall be considered as an Operating Expenseoperating expense of the Company.
Appears in 5 contracts
Samples: Limited Liability Company Agreement (MP Environmental Funding LLC), Limited Liability Company Agreement (MP Environmental Funding LLC), Limited Liability Company Agreement (MP Environmental Funding LLC)
Compensation of Member. To the extent permitted by applicable law, the Company shall have authority to reimburse the Member for out-of-pocket expenses incurred by the Member in connection with its service to the Company. It is understood that the compensation paid to the Member under the provisions of this Section 4.02 shall be determined without regard to the income of the Company, shall not, to the fullest extent permitted by law, not be deemed to constitute distributions to the recipient of any profit, loss or capital of the Company and shall be considered as an Operating ExpenseOn-going Financing Cost of the Company subject to the limitations on such expenses set forth in the Financing Order.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Duke Energy Progress SC Storm Funding LLC), Limited Liability Company Agreement (Duke Energy Progress SC Storm Funding LLC), Limited Liability Company Agreement (Duke Energy Progress SC Storm Funding LLC)
Compensation of Member. To the extent permitted by applicable law, the Company shall have authority to reimburse the Member for out-of-pocket expenses incurred by the Member in connection with its service to the Company. It is understood that the compensation paid to the Member under the provisions of this Section 4.02 shall be determined without regard to the income of the Company, shall not, to the fullest extent permitted by law, not be deemed to constitute distributions to the recipient of any profit, loss or capital of the Company and shall be considered as an Operating ExpenseOngoing Other Qualified Cost of the Company subject to the limitations on such expenses set forth in the Financing Order.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Consumers Energy Co), Limited Liability Company Agreement (Consumers Energy Co), Limited Liability Company Agreement (Consumers 2014 Securitization Funding LLC)
Compensation of Member. To the extent permitted by applicable law, the Company shall have authority to reimburse the Member for out-of-pocket expenses incurred by the Member in connection with its service to the Company. It is understood that the compensation paid to the Member under the provisions of this Section 4.02 shall be determined without regard to the income of the Company, shall not, to the fullest extent permitted by law, be deemed to constitute distributions to the recipient of any profit, loss or capital of the Company and shall be considered as an Operating ExpenseOngoing Other Qualified Cost of the Company subject to the limitations on such expenses set forth in the Financing Order.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Consumers 2023 Securitization Funding LLC), Limited Liability Company Agreement (Consumers 2023 Securitization Funding LLC), Limited Liability Company Agreement (Consumers 2023 Securitization Funding LLC)
Compensation of Member. To the extent permitted by applicable law, the Company shall have authority to reimburse the Member for out-of-pocket expenses incurred by the Member in connection with its service to the Company. It is understood that the compensation paid to the Member under the provisions of this Section 4.02 shall be determined without regard to the income of the Company, shall not, to the fullest extent permitted by law, not be deemed to constitute distributions to the recipient of any profit, loss or capital of the Company and shall be considered as an Operating Expense.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (SCE Recovery Funding LLC), Limited Liability Company Agreement (SCE Recovery Funding LLC)
Compensation of Member. To the extent permitted by applicable law, the Company shall have authority to reimburse the Member for out-of-pocket expenses incurred by the Member in connection with its service to the Company. It is understood that the compensation paid to the Member under the provisions of this Section 4.02 4.01 shall be determined without regard to the income of the Company, shall not, to the fullest extent permitted by law, not be deemed to constitute distributions to the recipient of any profit, loss or capital of the Company and shall be considered as an Operating ExpenseExpense subject to the limitations on such expenses set forth in the Financing Order.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Entergy Texas, Inc.), Limited Liability Company Agreement (Entergy Texas, Inc.)
Compensation of Member. To the extent permitted by applicable law, the The Company shall have authority to reimburse pay to the Member reasonable compensation for out-of-pocket expenses incurred by the Member in connection with its service Member's services to the Company. It is understood that the compensation paid to the Member under the provisions of this Section 4.02 5.02 shall be determined without regard to the income of the Company, shall not, to the fullest extent permitted by law, not be deemed to constitute distributions to the recipient of any profit, loss or capital of the Company and shall be considered as an Operating Expenseoperating expense of the Company.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Jcp&l Transition Funding LLC), Limited Liability Company Agreement (Jcp&l Transition Funding LLC)
Compensation of Member. To the extent permitted by applicable law, the The Company shall have authority to reimburse pay to the Member reasonable compensation for out-of-pocket expenses incurred by the Member in connection with its service Member’s services to the Company. It is understood that the compensation paid to the Member under the provisions of this Section 4.02 5.01 shall be determined without regard to the income of the Company, shall not, to the fullest extent permitted by law, not be deemed to constitute distributions to the recipient of any profit, loss or capital of the Company and shall be considered as an Operating Expense.operating expense of the Company. 17 SECTION 5.02
Appears in 1 contract
Samples: Limited Liability Agreement
Compensation of Member. To the extent permitted by applicable lawlaw and the Basic Documents, the Company shall have authority to reimburse the Member for out-of-pocket expenses incurred by the Member in connection with its service to the Company. It is understood that the compensation paid to the Member under the provisions of this Section 4.02 shall be determined without regard to the income of the Company, shall not, to the fullest extent permitted by law, not be deemed to constitute distributions to the recipient of any profit, loss or capital of the Company and shall be considered as an Operating ExpenseCompany.
Appears in 1 contract
Samples: Limited Liability Company Agreement (WEPCo Environmental Trust Finance I, LLC)
Compensation of Member. To the extent permitted by applicable law, the Company shall have authority to reimburse the Member for out-of-pocket expenses incurred by the Member in connection with its service to the Company. It is understood that the compensation paid to the Member under the provisions of this Section 4.02 shall be determined without regard to the income of the Company, shall not, to the fullest extent permitted by law, not be deemed to constitute distributions to the recipient of any profit, loss or capital of the Company and shall be considered as an Operating ExpenseOther Financing Cost of the Company subject to the limitations on such expenses set forth in the Financing Order.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Ohio Phase-in-Recovery Funding LLC)
