Common use of Duties of Servicer Generally Clause in Contracts

Duties of Servicer Generally. The Servicer's duties in general shall include management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 18-107(c)(1) of the Funding Law to perfect the lien of the Indenture Trustee in the Intangible Transition Property; making such filings and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating usage, billing, collections and posting of all payments in respect of the Intangible Transition Property; responding to inquiries by Customers, the ICC or any federal, local or other state governmental authorities with respect to the Intangible Transition Property; delivering Bills to Customers and ARES, investigating and handling delinquencies, processing and depositing collections and making periodic remittances; furnishing periodic reports to the Grantee, the Note Issuer, the Indenture Trustee and the Rating Agencies; and taking all necessary action in connection with Adjustments as set forth herein. Certain of the duties set forth above may be performed by ARES pursuant to ARES Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility therefor. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Agreement shall be qualified in their entirety by any ICC Regulations as in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a), in furtherance of the foregoing, the Servicer shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and xxxx calculation, billing, customer service functions, collections, payment processing and remittance set forth in Annex I hereto, including without limitation payment of all Allocable IFC Revenue Amounts described therein.

Duties of Servicer Generally. The Servicer's ’s duties in general shall include include: management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 18-107(c)(1) of the Funding Law to perfect the lien of the Indenture Trustee in the Intangible Transition Securitized Utility Tariff Property; making such filings calculating customer counts; billing the Securitized Utility Tariff Charges, collecting the Securitized Utility Tariff Charges from Customers and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of remitting all principal of and interest on the Notes; obtaining meter reads, calculating usage, billing, collections and posting of all payments in respect of the Intangible Transition Securitized Utility Tariff Property; responding to inquiries by Customers, the ICC Commission, or any federal, local or other state governmental authorities Governmental Authority with respect to the Intangible Transition PropertySecuritized Utility Tariff Property or the Securitized Utility Tariff Charges; delivering Bills to Customers and ARES, investigating and handling delinquenciesdelinquencies (and furnishing reports with respect to such delinquencies to the Issuer), processing and depositing collections and making periodic remittances; furnishing periodic and current reports to the GranteeIssuer, the Note IssuerCommission, the Indenture Trustee and the Rating Agencies; making all filings with the Commission and taking such other action necessary to perfect the Issuer’s ownership interests in and the Indenture Trustee’s first priority Lien on the Securitized Utility Tariff Property or other portions of the Securitized Utility Tariff Bond Collateral; making all filings and taking such other action as may be necessary to perfect and maintain the perfection and priority of the Indenture Trustee’s Lien on all Securitized Utility Tariff Bond Collateral; selling, as the agent for the Issuer, defaulted or written off accounts in accordance with the Servicer’s usual and customary practices; taking all necessary action in connection with True-Up Adjustments as set forth herein. Certain of ; and performing such other duties as may be specified under the duties set forth above may Financing Order to be performed by ARES pursuant to ARES Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility thereforit. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Servicing Agreement shall be qualified in their entirety by any ICC Regulations Commission Regulations, the Financing Order and the federal securities laws and the rules and regulations promulgated thereunder, including without limitation, Regulation AB and Rule 17g-5, as in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a), in furtherance of the foregoing, the Servicer hereby agrees that it shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and xxxx customer count, bill calculation, billing, customer service functions, collections, posting, payment processing and remittance set forth in Annex I hereto, including without limitation payment of all Allocable IFC Revenue Amounts described therein.I.

Duties of Servicer Generally. (i) The Servicer's ’s duties in general shall include include: management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 18-107(c)(1) of the Funding Law to perfect the lien of the Indenture Trustee in the Intangible Transition Securitization Property; making such filings and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating usage, ; billing, collections and posting of all payments in respect of the Intangible Transition PropertySecuritization Property or Securitization Charges; responding to inquiries by Customers, the ICC Commission or any federal, local or other state governmental authorities Governmental Authority with respect to the Intangible Transition PropertySecuritization Property or Securitization Charges; delivering Bills to Customers and ARES, the respective Customers; investigating and handling delinquenciesdelinquencies (and furnishing reports with respect to such delinquencies to the Issuer), processing and depositing collections and making periodic remittances; furnishing periodic reports to the Grantee, the Note Issuer, the Indenture Trustee and the Rating Agencies; making all filings with the Commission and taking such other action as may be necessary to perfect the Issuer’s ownership interests in and the Indenture Trustee’s first priority Lien on the Securitization Property; making all filings and taking such other action as may be necessary to perfect and maintain the perfection and priority of the Indenture Trustee’s Lien on all Securitization Bond Collateral; selling as the agent for the Issuer, as its interests may appear, defaulted or written off accounts in accordance with the Servicer’s usual and customary practices; taking all necessary action in connection with True-Up Adjustments as set forth herein. Certain of ; and performing such other duties as may be specified under the duties set forth above may Financing Order to be performed by ARES pursuant to ARES Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility thereforit. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Servicing Agreement shall be qualified in their entirety by any ICC Regulations Commission Regulations, the Financing Order and the U.S. federal securities laws and the rules and regulations promulgated thereunder, including, without limitation, Regulation AB, as in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a3.01(a)(i), in furtherance of the foregoing, the Servicer hereby agrees that it shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and usage, xxxx calculation, billing, customer service functions, collections, posting, payment processing and remittance set forth in Annex I attached hereto, including without limitation payment of all Allocable IFC Revenue Amounts described therein.

Duties of Servicer Generally. The Servicer's duties in general shall include management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 182003-107(c)(1) of the Funding Law to perfect the lien of the Indenture Trustee in the Intangible 1 Transition Property; making such filings and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating usageusage (including demand and including any such usage by Customers served by a REP), billing, collections and posting of all payments in respect of the Intangible Series 2003-1 Transition Property; responding to inquiries by Customers, Third-Party Collectors, REPs and the ICC PUCT or any federal, local or other state governmental authorities Governmental Authority with respect to the Intangible Series 2003-1 Transition PropertyProperty and the Series 2003-1 Transition Charges; delivering Bills to Customers and ARESThird-Party Collectors, accounting for receipt of the Series 2003-1 Transition Charges, investigating and handling delinquencies, processing and depositing collections and making periodic remittances; furnishing periodic reports to the Grantee, the Note Issuer, the Indenture Trustee and the Rating Agencies; making all filings with the PUCT and taking such other action as may be necessary to perfect the Issuer's ownership interests in and the Indenture Trustee's lien on the Series 2003-1 Transition Property; making all filings and taking such other action as may be necessary to perfect the Indenture Trustee's lien on and security interest in all Collateral associated with the Series 2003-1 Transition Property (the "Series 2003-1 Collateral"); selling, as the agent for the Issuer, as its interests may appear, defaulted or written-off accounts in accordance with the Servicer's usual and customary practices; and taking all necessary action in connection with True-Up Adjustments as set forth herein. Certain of the duties set forth above may be performed by ARES REPs or other Third-Party Collectors pursuant to ARES PUCT Regulations and REP Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility thereforif any. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Agreement shall be qualified in their entirety by any ICC PUCT Regulations as in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a), in furtherance of the foregoing, the Servicer hereby agrees that it shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and xxxx bill calculation, billing, customer service customex xxrvice functions, collections, payment processing and remittance set forth in Annex I hereto, including without limitation payment as it may be amended from time to time. For the avoidance of all Allocable IFC Revenue Amounts described thereindoubt, the term "usage" when used herein refers to both kilowatt hour consumption and kilowatt demand.

Duties of Servicer Generally. The Servicer's ’s duties in general shall include management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 18-107(c)(1) of the Funding Law to perfect the lien of the Indenture Trustee in the Intangible Transition Property; making such filings and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating usageusage (including demand and including any such usage by Customers served by a REP), billing, collections and posting of all payments in respect of the Intangible Transition Property; responding to inquiries by Customers, REPs, the ICC PUCT, or any federal, local or other state governmental authorities Governmental Authority with respect to the Intangible Transition Property; delivering Bills to Customers and ARES, or REPs; investigating and handling delinquenciesdelinquencies (and furnishing reports with respect to such delinquencies to the Issuer), processing and depositing collections and making periodic remittances; furnishing periodic reports to the Grantee, the Note Issuer, the Indenture Trustee and the Rating Agencies; making all filings with the PUCT and taking such other action as may be necessary to perfect the Issuer’s ownership interests in and the Indenture Trustee’s first priority lien and security interest on the Transition Property; making all filings and taking such other action as may be necessary to perfect and maintain the perfection and priority of the Indenture Trustee’s lien on and security interest in all Transition Bond Collateral; selling as the agent for the Issuer as its interests may appear defaulted or written off accounts in accordance with the Servicer’s usual and customary practices; taking all necessary action in connection with True-Up Adjustments as set forth herein. Certain of ; and performing such other duties as may be specified under the duties set forth above may Applicable Financing Order to be performed by ARES pursuant to ARES Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility thereforit. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Agreement shall be qualified in their entirety by any ICC Regulations PUCT Regulations, the Applicable Financing Orders, and the federal securities laws and the rules and regulations promulgated thereunder, including without limitation, Regulation AB, as in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a), in furtherance of the foregoing, the Servicer hereby agrees that it shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and xxxx calculation, billing, customer service functions, collections, payment processing and remittance set forth in Annex I hereto, including without limitation payment as it may be amended from time to time. For the avoidance of all Allocable IFC Revenue Amounts described thereindoubt, the term “usage” when used herein refers to both kilowatt hour consumption and kilowatt demand.

Duties of Servicer Generally. The Servicer's ’s duties in general shall include management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 18-107(c)(1) of the Funding Law to perfect the lien of the Indenture Trustee in the Intangible Transition Investment Recovery Property; making such filings and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating electricity usage, billing, collections and posting of all payments in respect of the Intangible Transition Investment Recovery Property; responding to inquiries by Customers, the ICC LPSC, or any federal, local or other state governmental authorities Governmental Authority with respect to the Intangible Transition Investment Recovery Property; delivering Bills to Customers and ARES, Customers; investigating and handling delinquenciesdelinquencies (and furnishing reports with respect to such delinquencies to the Issuer), processing and depositing collections and making periodic remittances; furnishing periodic reports to the Grantee, the Note Issuer, the Indenture Trustee and the Rating Agencies; making all filings with the LPSC and taking such other action as may be necessary to perfect the Issuer’s ownership interests in and the Indenture Trustee’s first priority lien and security interest on the Investment Recovery Property; making all filings and taking such other action as may be necessary to perfect and maintain the perfection and priority of the Indenture Trustee’s lien on and security interest in all Investment Recovery Bond Collateral; selling, as the agent for the Issuer, as its interests may appear defaulted or written off accounts in accordance with the Servicer’s usual and customary practices; taking all necessary action in connection with True-Up Adjustments as set forth herein. Certain of ; and performing such other duties as may be specified under the duties set forth above may Financing Order to be performed by ARES pursuant to ARES Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility thereforit. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Agreement shall be qualified in their entirety by any ICC Regulations LPSC Regulations, the Financing Order, and the federal securities laws and the rules and regulations promulgated thereunder, including without limitation, Regulation AB, as in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a), in furtherance of the foregoing, the Servicer hereby agrees that it shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and xxxx bxxx calculation, billing, customer service functions, collections, payment processing and remittance set forth in Annex I hereto, including without limitation payment as it may be amended from time to time. For the avoidance of all Allocable IFC Revenue Amounts described thereindoubt, the term “usage” when used herein refers to both kilowatt hour consumption and kilowatt demand.

Duties of Servicer Generally. The Servicer's ’s duties in general shall include management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 18-107(c)(1) of the Funding Law to perfect the lien of the Indenture Trustee in the Intangible Transition Storm Recovery Property; making such filings and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating usage, billing, collections and posting of all payments in respect of the Intangible Transition Storm Recovery Property; responding to inquiries by Customers, the ICC APSC, or any federal, local or other state governmental authorities Governmental Authority with respect to the Intangible Transition Storm Recovery Property; delivering Bills to Customers and ARES, Customers; investigating and handling delinquenciesdelinquencies (and furnishing reports with respect to such delinquencies to the Issuer), processing and depositing collections and making periodic remittances; furnishing periodic reports to the Grantee, the Note Issuer, the Indenture Trustee and the Rating Agencies; making all filings with the APSC and taking such other action as may be necessary to perfect the Issuer’s ownership interests in and the Indenture Trustee’s first priority Lien on the Storm Recovery Property; making all filings and taking such other action as may be necessary to perfect and maintain the perfection and priority of the Indenture Trustee’s Lien on all Storm Recovery Bond Collateral; selling as the agent for the Issuer as its interests may appear defaulted or written off accounts in accordance with the Servicer’s usual and customary practices; taking all necessary action in connection with True-Up Adjustments as set forth herein. Certain of ; and performing such other duties as may be specified under the duties set forth above may Financing Order to be performed by ARES pursuant to ARES Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility thereforit. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Agreement shall be qualified in their entirety by any ICC Regulations APSC Regulations, the Financing Order, and the federal securities laws and the rules and regulations promulgated thereunder, including Regulation AB, as in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a), in furtherance of the foregoing, the Servicer hereby agrees that it shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and xxxx calculation, billing, customer service functions, collections, payment processing and remittance set forth in Annex I hereto, including without limitation payment as it may be amended from time to time. For the avoidance of all Allocable IFC Revenue Amounts described thereindoubt, the term “usage” when used herein refers to both kilowatt hour consumption and kilowatt demand.

Duties of Servicer Generally. (i) The Servicer's ’s duties in general shall include include: management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 18-107(c)(1) of the Funding Law to perfect the lien of the Indenture Trustee in the Intangible Transition Storm Recovery Property; making such filings and initiating such proceedings with calculating consumption, billing the ICC as may be required to ensure that Storm Recovery Charges, collecting the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating usage, billing, collections Storm Recovery Charges from Customers and posting of all payments in respect of the Intangible Transition Property; collections, responding to inquiries by Customers, the ICC Commission or any federal, local or other state governmental authorities Governmental Authority with respect to the Intangible Transition PropertyStorm Recovery Property or Storm Recovery Charges; delivering Bills to Customers and ARES, investigating and handling delinquenciesdelinquencies (and furnishing reports with respect to such delinquencies to the Issuer), processing and depositing collections and making periodic remittances; furnishing periodic and current reports to the GranteeIssuer, the Note IssuerCommission, the Indenture Trustee and the Rating Agencies; making all filings with the Commission and taking such other action as may be necessary to perfect the Issuer’s ownership interests in and the Indenture Trustee’s first priority Lien on the Storm Recovery Property; making all filings and taking such other action as may be necessary to perfect and maintain the perfection and priority of the Indenture Trustee’s Lien on all Storm Recovery Collateral; selling as the agent for the Issuer, as its interests may appear, defaulted or written off accounts in accordance with the Servicer’s usual and customary practices; taking all necessary action in connection with True-Up Adjustments as set forth herein. Certain of ; and performing such other duties as may be specified under the duties set forth above may Financing Order to be performed by ARES pursuant to ARES Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility thereforit. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Servicing Agreement shall be qualified in their entirety by any ICC Regulations Commission Regulations, the Financing Order and the U.S. federal securities laws and the rules and regulations promulgated thereunder, including without limitation, Regulation AB1, as in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a3.01(a)(i), in furtherance of the foregoing, the Servicer hereby agrees that it shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage consumption and xxxx bill calculation, billing, customer service functions, collections, posting, payment processing and remittance set forth in Annex I heretoExhibit A. Any processing and depositing of collections, including without limitation payment making of all Allocable IFC Revenue Amounts described thereinperiodic remittances and furnishing of periodic reports set forth in this Section 3.01(a)(i) shall be subject to the provisions of the Intercreditor Agreement.

Duties of Servicer Generally. The Servicer's ’s duties in general shall include management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 18-107(c)(1) of the Funding Law to perfect the lien of the Indenture Trustee in the Intangible Transition Storm Recovery Property; making such filings and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating electricity usage, billing, collections and posting of all payments in respect of the Intangible Transition Storm Recovery Property; responding to inquiries by Customers, the ICC Council, or any federal, local or other state governmental authorities Governmental Authority with respect to the Intangible Transition Storm Recovery Property; delivering Bills to Customers and ARES, Customers; investigating and handling delinquenciesdelinquencies (and furnishing reports with respect to such delinquencies to the Issuer), processing and depositing collections and making periodic remittances; furnishing periodic reports to the Grantee, the Note Issuer, the Indenture Trustee and the Rating Agencies; making all filings with the Council and taking such other action as may be necessary to perfect the Issuer’s ownership interests in and the Indenture Trustee’s first priority lien and security interest on the Storm Recovery Property; making all filings and taking such other action as may be necessary to perfect and maintain the perfection and priority of the Indenture Trustee’s lien on and security interest in all Storm Recovery Bond Collateral; selling, as the agent for the Issuer, as its interests may appear defaulted or written off accounts in accordance with the Servicer’s usual and customary practices; taking all necessary action in connection with True-Up Adjustments as set forth herein. Certain of ; and performing such other duties as may be specified under the duties set forth above may Financing Order to be performed by ARES pursuant to ARES Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility thereforit. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Agreement shall be qualified in their entirety by any ICC Regulations Council Regulations, the Financing Order, and the federal securities laws and the rules and regulations promulgated thereunder, including without limitation, Regulation AB, as in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a), in furtherance of the foregoing, the Servicer hereby agrees that it shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and xxxx calculationbill xxxculation, billing, customer service functions, collections, payment processing and remittance set forth in Annex I hereto, including without limitation payment as it may be amended from time to time. For the avoidance of all Allocable IFC Revenue Amounts described thereindoubt, the term “usage” when used herein refers to both kilowatt hour consumption and kilowatt demand.

Duties of Servicer Generally. The Servicer's ’s duties in general shall include management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 18-107(c)(1) of the Funding Law to perfect the lien of the Indenture Trustee in the Intangible Transition Storm Recovery Property; making such filings and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating electricity usage, billing, collections and posting of all payments in respect of the Intangible Transition Storm Recovery Property; responding to inquiries by Customers, the ICC Council, or any federal, local or other state governmental authorities Governmental Authority with respect to the Intangible Transition Storm Recovery Property; delivering Bills to Customers and ARES, Customers; investigating and handling delinquenciesdelinquencies (and furnishing reports with respect to such delinquencies to the Issuer), processing and depositing collections and making periodic remittances; furnishing periodic reports to the Grantee, the Note Issuer, the Indenture Trustee and the Rating Agencies; making all filings with the Council and taking such other action as may be necessary to perfect the Issuer’s ownership interests in and the Indenture Trustee’s first priority lien and security interest on the Storm Recovery Property; making all filings and taking such other action as may be necessary to perfect and maintain the perfection and priority of the Indenture Trustee’s lien on and security interest in all Storm Recovery Bond Collateral; selling, as the agent for the Issuer, as its interests may appear defaulted or written off accounts in accordance with the Servicer’s usual and customary practices; taking all necessary action in connection with True-Up Adjustments as set forth herein. Certain of ; and performing such other duties as may be specified under the duties set forth above may Financing Order to be performed by ARES pursuant to ARES Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility thereforit. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Agreement shall be qualified in their entirety by any ICC Regulations Council Regulations, the Financing Order, and the federal securities laws and the rules and regulations promulgated thereunder, including without limitation, Regulation AB, as in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a), in furtherance of the foregoing, the Servicer hereby agrees that it shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and xxxx calculation, billing, customer service functions, collections, payment processing and remittance set forth in Annex I hereto, including without limitation payment as it may be amended from time to time. For the avoidance of all Allocable IFC Revenue Amounts described thereindoubt, the term “usage” when used herein refers to both kilowatt hour consumption and kilowatt demand.

Duties of Servicer Generally. The Servicer's duties in general shall include management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 18-107(c)(1) of the Funding Law to perfect the lien of the Indenture Trustee in the Intangible Transition Property; making such filings and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating usageusage (including demand and including any such usage by Customers served by a REP), billing, collections and posting of all payments in respect of the Intangible Transition Property; responding to inquiries by Customers, REPs, the ICC PUCT, or any federal, local or other state governmental authorities Governmental Authority with respect to the Intangible Transition Property; delivering Bills to Customers and ARESREPs, investigating and handling delinquencies, processing and depositing collections and making periodic remittances; furnishing periodic reports to the Grantee, the Note Issuer, the Indenture Trustee and the Rating Agencies; making all filings with the PUCT and taking such other action as may be necessary to perfect the Note Issuer's ownership interests in and the Indenture Trustee's lien on the Transition Property; making all filings and taking such other action as may be necessary to perfect the Indenture Trustee's lien on and security interest in all Note Collateral not constituting Transition Property; selling as the agent for the Note Issuer as its interests may appear defaulted or written off accounts in accordance with the Servicer's usual and customary practices; and taking all necessary action in connection with True-Up Adjustments as set forth herein. Certain of the duties set forth above may be performed by ARES REPs pursuant to ARES PUCT Regulations and, if any, REP Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility therefor. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Agreement shall be qualified in their entirety by any ICC PUCT Regulations as in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a), in furtherance of the foregoing, the Servicer hereby agrees that it shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and xxxx bill calculation, billing, customer service functions, collections, payment pxxxxnt processing and remittance set forth in Annex I hereto, including without limitation payment as it may be amended from time to time. For the avoidance of all Allocable IFC Revenue Amounts described thereindoubt, the term "usage" when used herein refers to both kilowatt hour consumption and kilowatt demand.

Duties of Servicer Generally. The Servicer's duties in general shall include management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 18-107(c)(1) of the Funding Law to perfect the lien of the Indenture Trustee in the Intangible Transition Property; making such filings and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating usageusage (including demand and including any such usage by Customers served by a REP), billing, collections and posting of all payments in respect of the Intangible Transition Property; responding to inquiries by Customers, REPs, the ICC PUCT, or any federal, local or other state governmental authorities Governmental Authority with respect to the Intangible Transition Property; delivering Bills to Customers and ARESREPs, investigating and handling delinquencies, processing and depositing collections and making periodic remittances; furnishing periodic reports to the Grantee, the Note Issuer, the Indenture Trustee and the Rating Agencies; making all filings with the PUCT and taking such other action as may be necessary to perfect the Note Issuer's ownership interests in and the Indenture Trustee's lien on the Transition Property; making all filings and taking such other action as may be necessary to perfect the Indenture Trustee's lien on and security interest in all Note Collateral not constituting Transition Property; selling as the agent for the Note Issuer as its interests may appear defaulted or written off accounts in accordance with the Servicer's usual and customary practices; and taking all necessary action in connection with True-Up Adjustments as set forth herein. Certain of the duties set forth above may be performed by ARES REPs pursuant to ARES PUCT Regulations and, if any, REP Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility therefor. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Agreement shall be qualified in their entirety by any ICC PUCT Regulations as in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a), in furtherance of the foregoing, the Servicer hereby agrees that it shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and xxxx calculation, billing, customer service functions, collections, payment processing and remittance set forth in Annex I hereto, including without limitation payment as it may be amended from time to time. For the avoidance of all Allocable IFC Revenue Amounts described thereindoubt, the term "usage" when used herein refers to both kilowatt hour consumption and kilowatt demand.

Duties of Servicer Generally. The Servicer's duties in general shall include management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 18-107(c)(1) of the Funding Law Laws to perfect the lien of the Indenture Trustee in the Intangible Transition Property; making such filings and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating usage, billing, collections and posting of all payments in respect of the Intangible Transition Property; responding to inquiries by Customers, the ICC or any federal, local or other state governmental authorities with respect to the Intangible Transition Property; delivering Bills to Customers and ARES, investigating and handling delinquencies, processing and depositing collections and making periodic remittances; furnishing periodic reports to the Grantee, the Note Issuer, the Indenture Trustee and the Rating Agencies; and taking all necessary action in connection with Reconciliation Adjustments and True-Up Adjustments as set forth herein. Certain of the duties set forth above may be performed by ARES pursuant to ARES Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third third-parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all of its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility therefor. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Agreement shall be qualified in their entirety by any ICC Regulations as in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a), in furtherance of the foregoing, the Servicer shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and xxxx calculation, billing, customer service functions, collections, payment processing and remittance set forth in Annex I hereto, including without limitation payment of all Allocable IFC Revenue Amounts described therein.

Duties of Servicer Generally. The Servicer's duties in general shall include management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 182004-107(c)(1) of the Funding Law to perfect the lien of the Indenture Trustee in the Intangible 1 Transition Property; making such filings and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating usageusage (including demand and including any such usage by Customers served by a REP), billing, collections and posting of all payments in respect of the Intangible Series 2004-1 Transition Property; responding to inquiries by Customers, Third-Party Collectors, REPs and the ICC PUCT or any federal, local or other state governmental authorities Governmental Authority with respect to the Intangible Series 2004-1 Transition PropertyProperty and the Series 2004-1 Transition Charges; delivering Bills to Customers and ARESThird-Party Collectors, accounting for receipt of the Series 2004-1 Transition Charges, investigating and handling delinquencies, processing and depositing collections and making periodic remittances; furnishing periodic reports to the Grantee, the Note Issuer, the Indenture Trustee and the Rating Agencies; making all filings with the PUCT and taking such other action as may be necessary to perfect the Issuer's ownership interests in and the Indenture Trustee's lien on the Series 2004-1 Transition Property; making all filings and taking such other action as may be necessary to perfect the Indenture Trustee's lien on and security interest in all Collateral associated with the Series 2004-1 Transition Property (the "Series 2004-1 Collateral"); selling, as the agent for the Issuer, as its interests may appear, defaulted or written-off accounts in accordance with the Servicer's usual and customary practices; and taking all necessary action in connection with True-Up Adjustments as set forth herein. Certain of the duties set forth above may be performed by ARES REPs or other Third-Party Collectors pursuant to ARES PUCT Regulations and REP Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility thereforif any. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Agreement shall be qualified in their entirety by any ICC PUCT Regulations as in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a), in furtherance of the foregoing, the Servicer hereby agrees that it shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and xxxx bill calculation, billing, customer service customex xxrvice functions, collections, payment processing and remittance set forth in Annex I hereto, including without limitation payment as it may be amended from time to time. For the avoidance of all Allocable IFC Revenue Amounts described thereindoubt, the term "usage" when used herein refers to both kilowatt hour consumption and kilowatt demand.

Duties of Servicer Generally. The Servicer's duties in general shall include management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 18-107(c)(1) of the Funding Law Laws to perfect the lien of the Indenture Trustee in the Intangible Transition Property; making such filings and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating usage, billing, collections and posting of all payments in respect of the Intangible Transition Property; responding to inquiries by Customers, the ICC or any federal, local or other state governmental authorities with respect to the Intangible Transition Property; delivering Bills to Customers and ARES, investigating and handling delinquencies, processing and depositing collections and making periodic remittances; furnishing periodic reports to the Grantee, the Note Issuer, the Indenture Trustee and the Rating Agencies; and taking all necessary action in connection with Reconciliation Adjustments and True-Up Adjustments as set forth herein. Certain of the duties set forth above may be performed by ARES pursuant to ARES Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third third-parties; PROVIDEDprovided, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all of its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility therefor. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Agreement shall be qualified in their entirety by any ICC Regulations as in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a), in furtherance of the foregoing, the Servicer shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and xxxx calculation, billing, customer service functions, collections, payment processing and remittance set forth in Annex I hereto, including without limitation payment of all Allocable IFC Revenue Amounts described therein.

Duties of Servicer Generally. The Servicer's duties in general shall include management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 18-107(c)(1) of the Funding Law to perfect the lien of the Indenture Trustee in the Intangible Transition Property; making such filings and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating usageusage (including demand and including any such usage by Customers served by a REP, when and if the Service Area becomes subject to retail competition), billing, collections and posting of all payments in respect of the Intangible Transition Property; responding to inquiries by Customers, REPs, the ICC PUCT, or any federal, local or other state governmental authorities Governmental Authority with respect to the Intangible Transition Property; delivering Bills to Customers and ARESor REPs, if any; investigating and handling delinquenciesdelinquencies (and furnishing reports with respect to such delinquencies to the Issuer), processing and depositing collections and making periodic remittances; furnishing periodic reports to the Grantee, the Note Issuer, the Indenture Trustee and the Rating Agencies; making all filings with the PUCT and taking such other action as may be necessary to perfect the Issuer's ownership interests in and the Indenture Trustee's first priority Lien on the Transition Property; making all filings and taking such other action as may be necessary to perfect and maintain the perfection and priority of the Indenture Trustee's Lien on all Transition Bond Collateral; selling as the agent for the Issuer as its interests may appear defaulted or written off accounts in accordance with the Servicer's usual and customary practices; taking all necessary action in connection with True-Up Adjustments as set forth herein. Certain of ; and performing such other duties as may be specified under the duties set forth above may Financing Order to be performed by ARES pursuant to ARES Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility thereforit. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Agreement shall be qualified in their entirety by any ICC Regulations PUCT Regulations, the Financing Order, and the federal securities laws and the rules and regulations promulgated thereunder, including Regulation AB, as in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a), in furtherance of the foregoing, the Servicer hereby agrees that it shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and xxxx calculation, billing, customer service functions, collections, payment processing and remittance set forth in Annex I hereto, including without limitation payment as it may be amended from time to time. For the avoidance of all Allocable IFC Revenue Amounts described thereindoubt, the term "usage" when used herein refers to both kilowatt hour consumption and kilowatt demand.

Duties of Servicer Generally. The Servicer's ’s duties in general shall include management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 18-107(c)(1) of the Funding Law to perfect the lien of the Indenture Trustee in the Intangible Transition Rate Stabilization Property; making such filings and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating usageusage (including any such usage by Customers served by a Third-Party Collector), billing, collections and posting of all payments in respect of the Intangible Transition Rate Stabilization Property; responding to inquiries by Customers, Third-Party Collectors, the ICC PSC, or any federal, local or other state governmental authorities Governmental Authority with respect to the Intangible Transition Rate Stabilization Property; delivering Bills to Customers and ARES, or Third-Party Collectors; investigating and handling delinquenciesdelinquencies (and furnishing reports with respect to such delinquencies to the Issuer), processing and depositing collections and making periodic remittances; furnishing periodic reports to the Grantee, the Note Issuer, the Indenture Trustee and the Rating Agencies; making all filings with the PSC and the Maryland State Department of Assessments and Taxation and all filings pursuant to the UCC and taking such other action as may be necessary to perfect the Issuer’s ownership interests in and the Indenture Trustee’s first priority lien on and security interest in the Rate Stabilization Property; making all filings with the PSC and the Maryland State Department of Assessments and Taxation and all filings pursuant to the UCC and taking such other action as may be necessary to perfect and maintain the perfection and first priority of the Indenture Trustee’s lien on and security interest in all Rate Stabilization Bond Collateral; selling as the agent for the Issuer as its interests may appear defaulted or written off accounts in accordance with the Servicer’s usual and customary practices; taking all necessary action in connection with True-Up Adjustments as set forth herein. Certain of ; and performing such other duties as may be specified under the duties set forth above may Applicable Qualified Rate Order to be performed by ARES pursuant to ARES Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility thereforit. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Agreement shall be qualified in their entirety by any ICC Regulations applicable Requirements of Law, as are in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a), in furtherance of the foregoing, the Servicer hereby agrees that it shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and xxxx calculation, billing, customer service functions, collections, payment processing and remittance set forth in Annex I hereto, including without limitation payment as it may be amended from time to time. For the avoidance of all Allocable IFC Revenue Amounts described thereindoubt, the term “usage” when used herein refers to kilowatt hour consumption.

Duties of Servicer Generally. The Servicer's ’s duties in general shall include management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 18-107(c)(1) of the Funding Law to perfect the lien of the Indenture Trustee in the Intangible Transition Storm Recovery Property; making such filings and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating usage, billing, collections and posting of all payments in respect of the Intangible Transition Storm Recovery Property; responding to inquiries by Customers, the ICC APSC, or any federal, local or other state governmental authorities Governmental Authority with respect to the Intangible Transition Storm Recovery Property; delivering Bills to Customers and ARES, Customers; investigating and handling delinquenciesdelinquencies (and furnishing reports with respect to such delinquencies to the Issuer), processing and depositing collections and making periodic remittances; furnishing periodic reports to the Grantee, the Note Issuer, the Indenture Trustee and the Rating Agencies; making all filings with the APSC and taking such other action as may be necessary to perfect the Issuer’s ownership interests in and the Indenture Trustee’s first priority Lien on the Storm Recovery Property; making all filings and taking such other action as may be necessary to perfect and maintain the perfection and priority of the Indenture Trustee’s Lien on all Storm Recovery Bond Collateral; selling as the agent for the Issuer as its interests may appear defaulted or written off accounts in accordance with the Servicer’s usual and customary practices; taking all necessary action in connection with True-Up Adjustments as set forth herein. Certain of ; and performing such other duties as may be specified under the duties set forth above may Financing Order to be performed by ARES pursuant to ARES Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility thereforit. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Agreement shall be qualified in their entirety by any ICC Regulations APSC Regulations, the Financing Order, and the federal securities laws and the rules and regulations promulgated thereunder, including Regulation AB, as in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a), in furtherance of the foregoing, the Servicer hereby agrees that it shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and xxxx calculation, billing, customer service functions, collections, payment processing and remittance set forth in Annex I hereto, including without limitation payment as it may be amended from time to time. For the avoidance of all Allocable IFC Revenue Amounts described therein.doubt, the term “usage” when used herein refers to both kilowatt hour consumption and kilowatt demand. (b)

Duties of Servicer Generally. The Servicer's duties in general shall include management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 18-107(c)(1) of the Funding Law to perfect the lien of the Indenture Trustee in the Intangible Transition Property; making such filings and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating usageusage (including demand and including any such usage by Customers served by a REP, when and if the Service Area becomes subject to retail competition), billing, collections and posting of all payments in respect of the Intangible Transition Property; responding to inquiries by Customers, REPs, the ICC PUCT, or any federal, local or other state governmental authorities Governmental Authority with respect to the Intangible Transition Property; delivering Bills to Customers and ARESor REPs, if any; investigating and handling delinquenciesdelinquencies (and furnishing reports with respect to such delinquencies to the Issuer), processing and depositing collections and making periodic remittances; furnishing periodic reports to the Grantee, the Note Issuer, the Indenture Trustee and the Rating Agencies; making all filings with the PUCT and taking such other action as may be necessary to perfect the Issuer's ownership interests in and the Indenture Trustee's first priority Lien on the Transition Property; making all filings and taking such other action as may be necessary to perfect and maintain the perfection and priority of the Indenture Trustee's Lien on all Transition Bond Collateral; selling as the agent for the Issuer as its interests may appear defaulted or written off accounts in accordance with the Servicer's usual and customary practices; taking all necessary action in connection with True-Up Adjustments as set forth herein. Certain of ; and performing such other duties as may be specified under the duties set forth above may Applicable Financing Order to be performed by ARES pursuant to ARES Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility thereforit. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Agreement shall be qualified in their entirety by any ICC Regulations PUCT Regulations, the Applicable Financing Orders, and the federal securities laws and the rules and regulations promulgated thereunder, including Regulation AB, as in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a), in furtherance of the foregoing, the Servicer hereby agrees that it shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and xxxx calculation, billing, customer service functions, collections, payment processing and remittance set forth in Annex I hereto, including without limitation payment as it may be amended from time to time. For the avoidance of all Allocable IFC Revenue Amounts described thereindoubt, the term "usage" when used herein refers to both kilowatt hour consumption and kilowatt demand.Reporting Functions.

Duties of Servicer Generally. The Servicer's duties in general shall include management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 18-107(c)(1) of the Funding Law to perfect the lien of the Indenture Trustee in the Intangible Transition Property; making such filings and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating usageusage (including demand and including any such usage by Customers served by a REP, when and if the Service Area becomes subject to retail competition), billing, collections and posting of all payments in respect of the Intangible Transition Property; responding to inquiries by Customers, REPs, the ICC PUCT, or any federal, local or other state governmental authorities Governmental Authority with respect to the Intangible Transition Property; delivering Bills to Customers and ARESor REPs, if any; investigating and handling delinquenciesdelinquencies (and furnishing reports with respect to such delinquencies to the Issuer), processing and depositing collections and making periodic remittances; furnishing periodic reports to the Grantee, the Note Issuer, the Indenture Trustee and the Rating Agencies; making all filings with the PUCT and taking such other action as may be necessary to perfect the Issuer's ownership interests in and the Indenture Trustee's first priority Lien on the Transition Property; making all filings and taking such other action as may be necessary to perfect and maintain the perfection and priority of the Indenture Trustee's Lien on all Transition Bond Collateral; selling as the agent for the Issuer as its interests may appear defaulted or written off accounts in accordance with the Servicer's usual and customary practices; taking all necessary action in connection with True-Up Adjustments as set forth herein. Certain of ; and performing such other duties as may be specified under the duties set forth above may Applicable Financing Order to be performed by ARES pursuant to ARES Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility thereforit. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Agreement shall be qualified in their entirety by any ICC Regulations PUCT Regulations, the Applicable Financing Orders, and the federal securities laws and the rules and regulations promulgated thereunder, including Regulation AB, as in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a), in furtherance of the foregoing, the Servicer hereby agrees that it shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and xxxx calculation, billing, customer service functions, collections, payment processing and remittance set forth in Annex I hereto, including without limitation payment as it may be amended from time to time. For the avoidance of all Allocable IFC Revenue Amounts described thereindoubt, the term "usage" when used herein refers to both kilowatt hour consumption and kilowatt demand.

Duties of Servicer Generally. The Servicer's duties in general shall include management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 18-107(c)(1) of the Funding Law to perfect the lien of the Indenture Trustee in the Intangible Transition Uplift Property; making such filings and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating usage, billing, collections collecting and posting of all payments in respect of the Intangible Transition Uplift Property; responding to inquiries by CustomersQSEs, representing obligated load serving entities ("Obligated LSEs"), responsible for the assessment, collection and payment of Uplift Charges ("Responsible QSEs"). Responsible QSEs, the ICC Commission, or any federal, local or other state governmental authorities Governmental Authority with respect to the Intangible Transition Uplift Property; delivering Bills bills to Customers and ARES, Responsible QSEs; investigating and handling delinquenciesdelinquencies (and furnishing reports with respect to such delinquencies to the Issuer), processing and depositing collections and making periodic remittances; furnishing periodic reports to the Grantee, the Note Issuer, the Indenture Trustee Trustee, and the Rating AgenciesAgency; making all filings with the Commission and the Secretary of State and taking such other action as may be necessary to perfect the Issuer's ownership interests in and the Indenture Trustee's first priority Lien on and security interest in the Uplift Property; making all filings and taking such other action as may be necessary to perfect and maintain the perfection and priority of the Indenture Trustee's Lien on and security interest in all Texas Stabilization N Bond Collateral; selling as the agent for the Issuer as its interests may appear defaulted or written off accounts in accordance with the Servicer's usual and customary practices; taking all necessary action in connection with True-Up Adjustments as set forth herein. Certain of ; and performing such other duties as may be specified under the duties set forth above may Debt Obligation Order to be performed by ARES pursuant to ARES Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility thereforit. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Agreement shall be qualified in their entirety by any ICC Regulations Commission Regulations, the Debt Obligation Order, and the federal securities laws and the rules and regulations promulgated thereunder, as in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a), in furtherance of the foregoing, the Servicer hereby agrees that it shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and xxxx bill calculation, billing, customer service functions, collections, payment processing and remittance set forth in Annex I hereto, including without limitation payment of all Allocable IFC Revenue Amounts described thereinas it may be amended from time to time.

Duties of Servicer Generally. The Servicer's ’s duties in general shall include management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 18-107(c)(1) of the Funding Law to perfect the lien of the Indenture Trustee in the Intangible Transition Storm Recovery Property; making such filings and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating electricity usage, billing, collections and posting of all payments in respect of the Intangible Transition Storm Recovery Property; responding to inquiries by Customers, the ICC Council, or any federal, local or other state governmental authorities Governmental Authority with respect to the Intangible Transition Storm Recovery Property; delivering Bills to Customers and ARES, Customers; investigating and handling delinquenciesdelinquencies (and furnishing reports with respect to such delinquencies to the Issuer), processing and depositing collections and making periodic remittances; furnishing periodic reports to the Grantee, the Note Issuer, the Indenture Trustee and the Rating Agencies; making all filings with the Council and taking such other action as may be necessary to perfect the Issuer’s ownership interests in and the Indenture Trustee’s first priority lien and security interest on the Storm Recovery Property; making all filings and taking such other action as may be necessary to perfect and maintain the perfection and priority of the Indenture Trustee’s lien on and security interest in all Storm Recovery Bond Collateral; selling, as the agent for the Issuer, as its interests may appear defaulted or written off accounts in accordance with the Servicer’s usual and customary practices; taking all necessary action in connection with True-Up Adjustments as set forth herein. Certain of ; and performing such other duties as may be specified under the duties set forth above may Financing Order to be performed by ARES pursuant to ARES Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility thereforit. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Agreement shall be qualified in their entirety by any ICC Regulations Council Regulations, the Financing Order, and the federal securities laws and the rules and regulations promulgated thereunder, including without limitation, Regulation AB, as in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a), in furtherance of the foregoing, the Servicer hereby agrees that it shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and xxxx calculation, billing, customer service functions, collections, payment processing and remittance set forth in Annex I hereto, including without limitation payment as it may be amended from time to time. For the avoidance of all Allocable IFC Revenue Amounts described therein.doubt, the term “usage” when used herein refers to both kilowatt hour consumption and kilowatt demand. (b)

Duties of Servicer Generally. The Servicer's ’s duties in general shall include management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 18-107(c)(1) of the Funding Law to perfect the lien of the Indenture Trustee in the Intangible Transition Property; making such filings and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating usageusage (including demand and including any such usage by Customers served by a REP, when and if the Service Area becomes subject to retail competition), billing, collections and posting of all payments in respect of the Intangible Transition Property; responding to inquiries by Customers, REPs, the ICC PUCT, or any federal, local or other state governmental authorities Governmental Authority with respect to the Intangible Transition Property; delivering Bills to Customers and ARESor REPs, if any; investigating and handling delinquenciesdelinquencies (and furnishing reports with respect to such delinquencies to the Issuer), processing and depositing collections and making periodic remittances; furnishing periodic reports to the Grantee, the Note Issuer, the Indenture Trustee and the Rating Agencies; making all filings with the PUCT and taking such other action as may be necessary to perfect the Issuer’s ownership interests in and the Indenture Trustee’s first priority Lien on the Transition Property; making all filings and taking such other action as may be necessary to perfect and maintain the perfection and priority of the Indenture Trustee’s Lien on all Transition Bond Collateral; selling as the agent for the Issuer as its interests may appear defaulted or written off accounts in accordance with the Servicer’s usual and customary practices; taking all necessary action in connection with True-Up Adjustments as set forth herein. Certain of ; and performing such other duties as may be specified under the duties set forth above may Financing Order to be performed by ARES pursuant to ARES Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility thereforit. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Agreement shall be qualified in their entirety by any ICC Regulations PUCT Regulations, the Financing Order, and the federal securities laws and the rules and regulations promulgated thereunder, including Regulation AB, as in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a), in furtherance of the foregoing, the Servicer hereby agrees that it shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and xxxx bxxx calculation, billing, customer service functions, collections, payment processing and remittance set forth in Annex I hereto, including without limitation payment as it may be amended from time to time. For the avoidance of all Allocable IFC Revenue Amounts described thereindoubt, the term “usage” when used herein refers to both kilowatt hour consumption and kilowatt demand.

Duties of Servicer Generally. The Servicer's ’s duties in general shall include management, servicing and administration of the Intangible Transition Property (including maintaining records of the cumulative total of IFCs and verifying that such amount has not exceeded the dollar amount of Intangible Transition Property established by the ICC pursuant to a Funding Order); on or before the date of issuance of any Series of Notes, filing with the ICC the filing required by Section 18-107(c)(1) of the Funding Law to perfect the lien of the Indenture Trustee in the Intangible Transition Rate Stabilization Property; making such filings and initiating such proceedings with the ICC as may be required to ensure that the dollar amount of Intangible Transition Property authorized by the Funding Orders is adequate for the payment in full of all principal of and interest on the Notes; obtaining meter reads, calculating usageusage (including any such usage by Customers served by a Third-Party Collector), billing, collections and posting of all payments in respect of the Intangible Transition Rate Stabilization Property; responding to inquiries by Customers, Third-Party Collectors, the ICC PSC, or any federal, local or other state governmental authorities Governmental Authority with respect to the Intangible Transition Rate Stabilization Property; delivering Bills to Customers and ARES, or Third-Party Collectors; investigating and handling delinquenciesdelinquencies (and furnishing reports with respect to such delinquencies to the Issuer), processing and depositing collections and making periodic remittances; furnishing periodic reports to the Grantee, the Note Issuer, the Indenture Trustee and the Rating Agencies; making all filings with the PSC and the Maryland State Department of Assessments and Taxation and all filings pursuant to the UCC and taking such other action as may be necessary to perfect the Issuer’s ownership interests in and the Indenture Trustee’s first priority lien on and security interest in the Rate Stabilization Property; making all filings with the PSC and the Maryland State Department of Assessments and Taxation and all filings pursuant to the UCC and taking such other action as may be necessary to perfect and maintain the perfection and first priority of the Indenture Trustee’s lien on and security interest in all Rate Stabilization Bond Collateral; selling as the agent for the Issuer as its interests may appear defaulted or written off accounts in accordance with the Servicer’s usual and customary practices; taking all necessary action in connection with True-Up Adjustments as set forth herein. Certain of ; and performing such other duties as may be specified under the duties set forth above may Applicable Qualified Rate Order to be performed by ARES pursuant to ARES Service Agreements. The Servicer shall be allowed to perform its duties hereunder either directly or by or through agents, attorneys, custodians, nominees or (with prior written notice to the Rating Agencies) by delegating all or a portion of its duties to any third parties; PROVIDED, however, that, notwithstanding any such delegation of duties, the Servicer shall remain liable for the performance of all its duties and obligations pursuant to the terms of this Agreement and the other Basic Documents and such delegation shall not relieve the Servicer of its liability and responsibility with respect to such duties or obligations. The fees and expenses of any such persons to whom the Servicer may delegate duties shall be as agreed between the Servicer and such third parties from time to time, and, except for such fees and expenses which are expressly reimbursable hereunder, such third-party fees and expenses shall be payable solely by the Servicer out of its Servicing Fee and neither the Grantee nor any assignee thereof shall have any responsibility thereforit. Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Agreement shall be qualified in their entirety by any ICC Regulations applicable Requirements of Law, as are in effect at the time such duties are to be performed. Without limiting the generality of this Section 3.01(a), in furtherance of the foregoing, the Servicer hereby agrees that it shall also have, and shall comply with, the duties and responsibilities relating to data acquisition, usage and xxxx bxxx calculation, billing, customer service functions, collections, payment processing and remittance set forth in Annex I hereto, including without limitation payment as it may be amended from time to time. For the avoidance of all Allocable IFC Revenue Amounts described thereindoubt, the term “usage” when used herein refers to kilowatt hour consumption.