Common use of Creation of Intangible Transition Property Clause in Contracts

Creation of Intangible Transition Property. (i) The Intangible Transition Property other than the Retained Intangible Transition Property constitutes a current property right, (ii) the Intangible Transition Property includes, without limitation, (A) the irrevocable right of the Seller and the Issuer, as assignee of the Seller, to receive through Intangible Transition Charges an amount sufficient to recover all of the Transferor's Qualified Transition Expenses described in the Qualified Rate Order in an amount equal to the aggregate principal amount of Transition Bonds plus an amount sufficient to provide for any credit enhancement (including the Overcollateralization Amount relating to each Series of Transition Bonds), to fund any reserves, and to pay interest, premium, if any, servicing fees and other expenses relating to the Transition Bonds, and (B) all right, title and interest of the Transferor or its assignee applicable to the Transition Bonds in the Qualified Rate Order and in all revenues, collections, claims, payments, money or proceeds of or arising from the Intangible Transition Charges applicable to the Transition Bonds set forth in the Qualified Rate Order to the extent that in accordance with the Statute, the Qualified Rate Order and the rates and charges authorized under the Qualified Rate Order are declared to be irrevocable and (iii) the Qualified Rate Order, including the right to collect Intangible Transition Charges, have been declared to be irrevocable by the PUC.

Creation of Intangible Transition Property. (i) The Intangible Transition Property other than the Retained Intangible Transition Property constitutes a current property right, (ii) the Intangible Transition Property includes, without limitation, (A) the irrevocable right of the Seller Issuer and the Issuer, as assignee of the Seller, any Other Issuers to receive through Intangible Transition Charges an amount sufficient to recover all of the TransferorSeller's Qualified Transition Expenses described in the Qualified Rate Order Orders in an amount equal to the aggregate principal amount of Transition Bonds and Other Transition Bonds plus an amount sufficient to provide for any credit enhancement (including the Overcollateralization Amount relating to each Series of Transition Bonds), to fund any reserves, and to pay interest, premium, if any, servicing fees and other expenses relating to the Transition Bonds and Other Transition Bonds, and (B) all right, title and interest of the Transferor Seller or its assignee applicable to the Transition Bonds and Other Transition Bonds in the Qualified Rate Order Orders and in all revenues, collections, claims, payments, money or proceeds of or arising from the Intangible Transition Charges applicable to the Transition Bonds and Other Transition Bonds set forth in the Qualified Rate Order Orders to the extent that in accordance with the Statute, the Qualified Rate Order Orders and the rates and charges authorized under the Qualified Rate Order Orders are declared to be irrevocable and (iii) the paragraphs four through nineteen of each Qualified Rate Order, including the right to collect Intangible Transition Charges, have been declared to be irrevocable by the PUC.

Creation of Intangible Transition Property. (i) The Intangible Transition Property other than the Retained Intangible Transition Property constitutes a current property right, (ii) the Intangible Transition Property includes, without limitation, (A) the irrevocable right of the Seller and the Issuer, as assignee of the Seller, to receive through Intangible Transition Charges an amount sufficient to recover all of the Transferor's Qualified Transition Expenses described in the Qualified Rate Order in an amount equal to the aggregate principal amount of Transition Bonds plus an amount sufficient to provide for any credit enhancement (including the Overcollateralization Amount relating to each Series of Transition Bonds), to fund any reserves, and to pay interest, premium, if any, servicing fees and other expenses 148 relating to the Transition Bonds, and (B) all right, title and interest of the Transferor or its assignee applicable to the Transition Bonds in the Qualified Rate Order and in all revenues, collections, claims, payments, money or proceeds of or arising from the Intangible Transition Charges applicable to the Transition Bonds set forth in the Qualified Rate Order to the extent that in accordance with the Statute, the Qualified Rate Order and the rates and charges authorized under the Qualified Rate Order are declared to be irrevocable and (iii) the Qualified Rate Order, including the right to collect Intangible Transition Charges, have been declared to be irrevocable by the PUC.

Creation of Intangible Transition Property. (i) The Intangible Transition Property other than the Retained Intangible Transition Property constitutes a current property right, (ii) the Intangible Transition Property includes, without limitation, (A) the irrevocable right of the Seller and the Issuer, as assignee of the Seller, to receive through Intangible Transition Charges an amount sufficient to recover all of the Transferor's Qualified Transition Expenses described in the Qualified Rate Order in an amount equal to the aggregate principal amount of Transition Bonds plus an amount sufficient to provide for any credit enhancement (including the Overcollateralization Amount relating to each Series of Transition Bonds), to fund any reserves, and to pay interest, premium, if any, servicing fees and other expenses relating to the Transition Bonds, and (B) all right, title and interest of the Transferor or its assignee applicable to the Transition Bonds in the Qualified Rate Order and in all revenues, collections, claims, payments, money or proceeds of or arising from the Intangible Transition Charges applicable to the Transition Bonds set forth in the Qualified Rate Order to the extent that in accordance with the Statute, the Qualified Rate Order and the rates and charges authorized under the Qualified Rate Order are declared to be irrevocable and (iii) the Qualified Rate Order, including the right to collect Intangible Transition Charges, have been declared to be irrevocable by the PUC.