Common use of Creation of Securitized Utility Tariff Property Clause in Contracts

Creation of Securitized Utility Tariff Property. Upon the filing of the Issuance Advice Letter with respect to the Securitized Utility Tariff Property pursuant to the Financing Order: (i) the related rights and interests of the Seller under the Financing Order, including the right to impose, bill, charge, collect and receive the Securitized Utility Tariff Charges established pursuant to the Financing Order, will become Securitized Utility Tariff Property, (ii) the Securitized Utility Tariff Property will constitute an existing present intangible property right vested in the Holders, (iii) the Securitized Utility Tariff Property will include the right, title and interest of the Seller to the Securitized Utility Tariff Charge Rider SUR imposing the Securitized Utility Tariff Charges, and the right to obtain periodic true-up adjustments of the Securitized Utility Tariff Charges and all revenues, collections, claims, rights to payments, payments, money or proceeds of or arising from the rights and interests specified in the Financing Order, (iv) the owner of the Securitized Utility Tariff Property will be legally entitled to bill Securitized Utility Tariff Charges and collect payments in respect of the Securitized Utility Tariff Charges in the aggregate amount sufficient to pay or fund, in accordance with the Indenture, the interest on and principal of the Securitized Utility Tariff Bonds, to pay the fees and expenses of servicing the Securitized Utility Tariff Bonds, and to replenish the Capital Subaccount to the required capital level until the Securitized Utility Tariff Bonds are paid in full, and (v) the Securitized Utility Tariff Property will not be subject to any Lien, except for the lien arising under Section 393.1700.5.(2)(b) of the Securitization Law, the Financing Order and the Issuance Advice Letter.

Creation of Securitized Utility Tariff Property. Upon the filing of the Issuance Advice Letter with respect to the Securitized Utility Tariff Property pursuant to the Financing Order: (i) the related rights and interests of the Seller under the Financing Order, including the right to impose, bill, charge, collect and receive the Securitized Utility Tariff Charges established pursuant to the Financing Order, will become Securitized Utility Tariff Property, (ii) the Securitized Utility Tariff Property will constitute an existing present intangible a current property right vested in the Holdersright, (iii) the Securitized Utility Tariff Property will include the right, title and interest of the Seller to the Securitized Utility Tariff Charge Rider SUR imposing the Securitized Utility Tariff Charges, and the right to obtain periodic true-up adjustments of the Securitized Utility Tariff Charges and all revenues, collections, claims, rights to payments, payments, money or proceeds of or arising from the rights and interests specified in the Financing OrderCharges, (iv) the owner of the Securitized Utility Tariff Property will be legally entitled to bill Securitized Utility Tariff Charges and collect payments in respect of the Securitized Utility Tariff Charges in the aggregate amount sufficient to pay or fund, in accordance with the Indenture, the interest on and principal of the Securitized Utility Tariff Bonds, to pay the fees and expenses of servicing the Securitized Utility Tariff Bondsall interest thereon, and to replenish the Capital Subaccount to the required capital level until the Securitized Utility Tariff Bonds are paid in fullall other Ongoing Financing Costs, and (v) the Securitized Utility Tariff Property will not be subject to any Lien, except for the lien arising under Section 393.1700.5.(2)(b) of the Securitization Law, the Financing Order and the Issuance Advice Letter.

Creation of Securitized Utility Tariff Property. Upon the filing of the Issuance Advice Letter with respect to the Securitized Utility Tariff Property pursuant to the Financing Order: (i) the related rights and interests of the Seller under the Financing Order, including the right to impose, bill, charge, collect and receive the Securitized Utility Tariff Charges established pursuant to the Financing Order, will become Securitized Utility Tariff Property, (ii) the Securitized Utility Tariff Property will constitute an existing present intangible property right vested in the Holders, (iii) the Securitized Utility Tariff Property will include the right, title and interest of the Seller to the Securitized Utility Tariff Charge Rider SUR imposing the Securitized Utility Tariff Charges, and the right to obtain periodic true-up adjustments of the Securitized Utility Tariff Charges and all revenues, collections, claims, rights to payments, payments, money or proceeds of or arising from the rights and interests specified in the Financing Order, (iv) the owner of the Securitized Utility Tariff Property will be legally entitled to bill Securitized Utility Tariff Charges and collect payments in respect of the Securitized Utility Tariff Charges in the aggregate amount sufficient to pay or fund, in accordance with the Indenture, the interest on and principal of the Securitized Utility Tariff Bonds, Bonds to pay the fees and expenses of servicing the Securitized Utility Tariff Bonds, and to replenish the Capital Subaccount to the required capital level until the Securitized Utility Tariff Bonds are paid in full, and (v) the Securitized Utility Tariff Property will not be subject to any Lien, except for the lien arising under Section 393.1700.5.(2)(b) of the Securitization Law, the Financing Order and the Issuance Advice Letter.