Common use of Energy Regulatory Status Clause in Contracts

Energy Regulatory Status. As of the Closing Date: (a) the Borrower is not subject to regulation as a “natural-gas company” as such term is defined in the Natural Gas Act; (b) the Borrower is not subject to regulation under PUHCA; (c) the Borrower is not subject to regulation under the Texas Utilities Code (Public Utility Regulatory Act, TEX. UTIL. CODE XXX. §§ 11.001 et seq (Xxxxxx 2007 & Supp. 2021) (“PURA”)) and the PUCT Substantive Rules of the State of Texas as a “public utility”, or subject to rate regulation in the same manner as a “public utility”; (d) the Borrower is not subject to regulation as a “gas utility” or be subject to rate regulation in the same manner as a “gas utility” pursuant to the Texas Utilities Code (Gas Utility Regulatory Act, Tex. Util. Code Xxx §§101.001 et seq (Xxxxxx 2007 & Supp. 2013) (“XXXX”)); (e) none of the P1 Intercreditor Agent, the P1 Collateral Agent or any other Senior Secured Party will, solely by virtue of the execution and delivery of the P1 Financing Documents, the consummation of the transactions contemplated by the P1 Financing Documents, and the performance of obligations under the P1 Financing Documents, be or become subject to regulation as a “natural-gas company” as such term is defined in the Natural Gas Act; (f) none of the P1 Intercreditor Agent, the P1 Collateral Agent or any other Senior Secured Party will, solely by virtue of the execution and delivery of the P1 Financing Documents, the consummation of the transactions contemplated by the P1 Financing Documents, and the performance of obligations under the P1 Financing Documents, be or become subject to regulation under PUHCA; (g) none of the P1 Intercreditor Agent, the P1 Collateral Agent or any other Senior Secured Party, solely by virtue of the execution and delivery of the P1 Financing Documents, the consummation of the transactions contemplated by the P1 Financing Documents, and the performance of obligations under the P1 Financing Documents shall be or become with respect to rates subject to regulation under PURA and the PUCT Substantive Rules of the State of Texas as a “public utility,” or be subject to regulation in the same manner as a “public utility”; and (h) none of the P1 Intercreditor Agent, the P1 Collateral Agent or any other Senior Secured Party, solely by virtue of the execution and delivery of the P1 Financing Documents, the consummation of the transaction contemplated by the P1 Financing Documents, and the performance of obligations under the P1 Financing Documents shall be or become subject to regulation under the definitions of a “gas utility” contained in XXXX or be subject to rate regulation in the same manner as a “gas utility” as long as those entities are not trustees or receivers of a gas utility.

Energy Regulatory Status. As of the Closing Date: (a) the Borrower is not subject to regulation as a “natural-gas company” as such term is defined in the Natural Gas Act; (b) the Borrower is not subject to regulation under PUHCA; (c) the Borrower is not subject to regulation under the Texas Utilities Code (Public Utility Regulatory Act, TEX. UTIL. CODE XXX. §§ 11.001 et seq (Xxxxxx 2007 & Supp. 2021) (“PURA”)) and the PUCT Substantive Rules of the State of Texas as a “public utility”, or subject to rate regulation in the same manner as a “public utility”; (d) the Borrower is not subject to regulation as a “gas utility” or be subject to rate regulation in the same manner as a “gas utility” pursuant to the Texas Utilities Code (Gas Utility Regulatory Act, Tex. Util. Code Xxx §§101.001 et seq (Xxxxxx 2007 & Supp. 2013) (“XXXX”)); (e) none of the P1 Intercreditor Agent, the P1 Collateral Agent or any other Senior Secured Party will, solely by virtue of the execution and delivery of the P1 TCF Financing Documents, the consummation of the transactions contemplated by the P1 TCF Financing Documents, and the performance of obligations under the P1 TCF Financing Documents, be or become subject to regulation as a “natural-gas company” as such term is defined in the Natural Gas Act; (f) none of the P1 Intercreditor Agent, the P1 Collateral Agent or any other Senior Secured Party will, solely by virtue of the execution and delivery of the P1 TCF Financing Documents, the consummation of the transactions contemplated by the P1 TCF Financing Documents, and the performance of obligations under the P1 TCF Financing Documents, be or become subject to regulation under PUHCA; (g) none of the P1 Intercreditor Agent, the P1 Collateral Agent or any other Senior Secured Party, solely by virtue of the execution and delivery of the P1 TCF Financing Documents, the consummation of the transactions contemplated by the P1 TCF Financing Documents, and the performance of obligations under the P1 TCF Financing Documents shall be or become with respect to rates subject to regulation under PURA and the PUCT Substantive Rules of the State of Texas as a “public utility,” or be subject to regulation in the same manner as a “public utility”; and (h) none of the P1 Intercreditor Agent, the P1 Collateral Agent or any other Senior Secured Party, solely by virtue of the execution and delivery of the P1 TCF Financing Documents, the consummation of the transaction contemplated by the P1 TCF Financing Documents, and the performance of obligations under the P1 TCF Financing Documents shall be or become subject to regulation under the definitions of a “gas utility” contained in XXXX or be subject to rate regulation in the same manner as a “gas utility” as long as those entities are not trustees or receivers of a gas utility.

Energy Regulatory Status. As of the Closing Date: (a) the Borrower is not subject to regulation as a “natural-gas company” as such term is defined in the Natural Gas Act; (b) the Borrower is not subject to regulation under PUHCA; (c) the Borrower is not subject to regulation under the Texas Utilities Code (Public Utility Regulatory Act, TEX. UTIL. CODE XXX. §§ 11.001 et seq (Xxxxxx 2007 & Supp. 2021) (“PURA”)) and the PUCT Substantive Rules of the State of Texas as a “public utility”, or subject to rate regulation in the same manner as a “public utility”; (d) the Borrower is not subject to regulation as a “gas utility” or be subject to rate regulation in the same manner as a “gas utility” pursuant to the Texas Utilities |US-DOCS\145399031.8|| Code (Gas Utility Regulatory Act, Tex. Util. Code Xxx §§101.001 et seq (Xxxxxx 2007 & Supp. 2013) (“XXXX”)); (e) none of the P1 Intercreditor Agent, the P1 Collateral Agent or any other Senior Secured Party will, solely by virtue of the execution and delivery of the P1 TCF Financing Documents, the consummation of the transactions contemplated by the P1 TCF Financing Documents, and the performance of obligations under the P1 TCF Financing Documents, be or become subject to regulation as a “natural-gas company” as such term is defined in the Natural Gas Act; (f) none of the P1 Intercreditor Agent, the P1 Collateral Agent or any other Senior Secured Party will, solely by virtue of the execution and delivery of the P1 TCF Financing Documents, the consummation of the transactions contemplated by the P1 TCF Financing Documents, and the performance of obligations under the P1 TCF Financing Documents, be or become subject to regulation under PUHCA; (g) none of the P1 Intercreditor Agent, the P1 Collateral Agent or any other Senior Secured Party, solely by virtue of the execution and delivery of the P1 TCF Financing Documents, the consummation of the transactions contemplated by the P1 TCF Financing Documents, and the performance of obligations under the P1 TCF Financing Documents shall be or become with respect to rates subject to regulation under PURA and the PUCT Substantive Rules of the State of Texas as a “public utility,” or be subject to regulation in the same manner as a “public utility”; and (h) none of the P1 Intercreditor Agent, the P1 Collateral Agent or any other Senior Secured Party, solely by virtue of the execution and delivery of the P1 TCF Financing Documents, the consummation of the transaction contemplated by the P1 TCF Financing Documents, and the performance of obligations under the P1 TCF Financing Documents shall be or become subject to regulation under the definitions of a “gas utility” contained in XXXX or be subject to rate regulation in the same manner as a “gas utility” as long as those entities are not trustees or receivers of a gas utility.