DOMINION AND CONTROL OVER THE INTANGIBLE TRANSITION PROPERTY. Notwithstanding any other provision herein, the Grantee shall have dominion and control over the Intangible Transition Property, and the Servicer, in accordance with the terms hereof, is acting solely as the servicing agent and custodian for the Grantee with respect to the Intangible Transition Property and the Intangible Transition Property Records. The Servicer shall not take any action that is not authorized by this Agreement, that is not consistent with its customary procedures and practices, or that shall impair the rights of the Grantee in the Intangible Transition Property, in each case unless such action is required by applicable law.
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Samples: Servicing Agreement (Illinois Power Securitization Limited Liability Co), Intangible Transition Property Servicing Agreement (Comed Funding LLC), Intangible Transition Property Servicing Agreement (Illinois Power Securitization Limited Liability Co)
DOMINION AND CONTROL OVER THE INTANGIBLE TRANSITION PROPERTY. Notwithstanding any other provision herein, the Grantee shall have dominion and control over the Intangible Transition Property, and the Servicer, in accordance with the terms hereof, is acting solely as the servicing agent and custodian for the Grantee with respect to the Intangible Transition Property and the Intangible Transition Property Records. The Servicer shall not take any action that is not authorized by this Agreement, that is not consistent with its customary procedures and practices, or that shall impair the rights of the Grantee in the Intangible Transition Property, in each case unless such action is required by applicable lawlaw or court or regulatory order.
Appears in 2 contracts
Samples: Servicing Agreement (Illinois Power Securitization Limited Liability Co), Servicing Agreement (Comed Funding LLC)
DOMINION AND CONTROL OVER THE INTANGIBLE TRANSITION PROPERTY. Notwithstanding any other provision herein, the Grantee shall have dominion and control over the Intangible Transition Property, and the Servicer, in accordance with the terms hereof, is acting solely as the servicing agent and custodian for the Grantee with respect to the Intangible Transition Property and the Intangible Transition Property Records. The Servicer shall not take any action that is not authorized by this Agreement, that is not consistent with its customary procedures and practices, or that shall impair the rights of the Grantee in the Intangible Transition Property, in each case unless such action is required by applicable law.. ARTICLE III
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