Common use of Enforcement of Third-Party Collector Obligations Clause in Contracts

Enforcement of Third-Party Collector Obligations. The Servicer shall, in accordance with the terms of the Tariff, applicable agreements with Third-Party Collectors and other applicable tariffs, ensure that each Third-Party Collector remits all SRC Collections which it is obligated to remit to the Servicer. In the event of any default by any Third-Party Collector, the Servicer shall enforce all rights set forth in and take all other steps permitted by, if applicable, the Applicable Financing Orders, Tariff, other applicable tariffs and any other LPSC Regulations as it determines, in accordance with the Servicing Standard, are reasonably necessary to ensure the prompt payment of SRC Collections by such Third-Party Collector and to preserve the rights of the Holders with respect thereto, including, where appropriate, terminating the right of any Third-Party Collector to bill and collect Storm Recovery Charges or petitioning the LPSC to impose such other remedies or penalties as may be available under the circumstances. Any agreement entered into between the Servicer and a defaulted Third-Party Collector will be consistent with and limited by the terms of this Agreement and will satisfy the Rating Agency Condition. In the event the Servicer has actual knowledge that a Third-Party Collector is in default, including due to the downgrade by the Rating Agencies of any party providing credit support for such Third-Party Collector, the Servicer shall promptly notify a Responsible Officer of the Trustee in writing of the same and, shall, if applicable, instruct the Trustee either to: (i) withdraw from such Third-Party Collector's Third-Party Collector Deposit Account and deposit into the applicable Collection Accounts the lesser of (x) the amount of cash on deposit in such Third-Party Collector Deposit Account and allocable to the Storm Recovery Property at such time and (y) the amount of any Storm Recovery Charges then due and payable by such Third-Party Collector; or (ii) make demand under any letter of credit, guarantee or other credit support up to the lesser of (x) the amount of such letter of credit, guarantee or other credit support and (y) the amount of any Storm Recovery Charges then due and payable by such Third-Party Collector, and forward the amounts received, if any, as a result of such demand to the applicable Collection Accounts. The Trustee shall, within two (2) Business Days of receipt of such written notice, withdraw such funds from the Third-Party Collector Deposit Account or make demand under such credit support, as applicable, and deposit such funds withdrawn or received, as applicable, into the applicable Collection Accounts.

Enforcement of Third-Party Collector Obligations. The Servicer shall, in accordance with the terms of the Tariff, applicable agreements with Third-Party Collectors and other applicable tariffs, ensure demand that each Third-Party Collector remits remit all SRC Collections Series 2004-1 TC Payments which it is obligated to remit to the Servicer. In the event of any default by any Third-Party Collector, the Servicer shall enforce all rights set forth in in, and take all other steps permitted by, if applicable, the Applicable Financing Orders, Tariff, other applicable tariffs Tariff and any other LPSC PUCT Regulations as that it determines, in accordance with the Servicing Standard, are reasonably necessary to ensure the prompt payment of SRC Collections Series 2004-1 TC Payments by such Third-Party Collector and to preserve the rights of the Holders with respect thereto, including, where appropriateappropriate and in accordance with applicable REP standards in the Financing Order, terminating the right of any Third-Party Collector to bill and collect Storm Recovery Series 2004-1 Traxxxxion Charges or petitioning the LPSC PUCT to impose such other remedies or penalties as may be available under the circumstances. Any agreement entered into between the Servicer and a defaulted Third-Party Collector will REP shall be consistent with and limited by to the terms of this Agreement and will shall satisfy the Rating Agency Condition. In the event the Servicer has actual knowledge that a Third-Party Collector is in default, including due to caused by, among other things, the downgrade by the Rating Agencies of any party providing credit support for such Third-Party Collector, the Servicer shall promptly notify a Responsible Officer the Indenture Trustee of the Trustee in writing of the same such default and, shall, if applicable, in accordance with prevailing REP standards in the Financing Order, instruct the Indenture Trustee either toin writing to either: (i) withdraw from such Third-Party CollectorREP's Third-Party Collector REP Deposit Account subaccount and deposit into the applicable Series 2004-1 Collection Accounts Account the lesser of (x) the amount of cash collateral on deposit in such Third-Party Collector REP Deposit Account and allocable to the Storm Recovery Property subaccount at such time and (y) the amount of any Storm Recovery Series 2004-1 Transition Charges then due and payable by such Third-Party CollectorREP; or (ii) make demand under any letter of credit, guarantee or other credit support up which may be drawn on at such time and deposit such proceeds into the applicable REP Deposit subaccount for forwarding to the lesser of Series 2004-1 Collection Account as described in clause (xi) above. In accordance with the amount of such letter of creditIndenture and subject to prevailing REP standards in the Financing Order, guarantee or other credit support and (y) the amount of any Storm Recovery Charges then due and payable by such Third-Party Collector, and forward the amounts received, if any, as a result of such demand to the applicable Collection Accounts. The Indenture Trustee shall, within two (2) Business Days of receipt of such written notice, withdraw such funds from the Third-Party Collector applicable REP Deposit Account subaccount or make demand under such credit support, as applicable, and deposit such funds withdrawn or received, as applicable, into the applicable Collection Accounts.

Enforcement of Third-Party Collector Obligations. The Servicer shall, in accordance with the terms of the Tariff, applicable agreements with Third-Party Collectors and other applicable tariffs, ensure demand that each Third-Party Collector remits remit all SRC Collections Series 2003-1 TC Payments which it is obligated to remit to the Servicer. In the event of any default by any Third-Party Collector, the Servicer shall enforce all rights set forth in in, and take all other steps permitted by, if applicable, the Applicable Financing Orders, Tariff, other applicable tariffs Tariff and any other LPSC PUCT Regulations as that it determines, in accordance with the Servicing Standard, are reasonably necessary to ensure the prompt payment of SRC Collections Series 2003-1 TC Payments by such Third-Party Collector and to preserve the rights of the Holders with respect thereto, including, where appropriateappropriate and in accordance with applicable REP standards in the Financing Order, terminating the right of any Third-Party Collector to bill and collect Storm Recovery Series 2003-1 Traxxxxion Charges or petitioning the LPSC PUCT to impose such other remedies or penalties as may be available under the circumstances. Any agreement entered into between the Servicer and a defaulted Third-Party Collector will REP shall be consistent with and limited by to the terms of this Agreement and will shall satisfy the Rating Agency Condition. In the event the Servicer has actual knowledge that a Third-Party Collector is in default, including due to caused by, among other things, the downgrade by the Rating Agencies of any party providing credit support for such Third-Party Collector, the Servicer shall promptly notify a Responsible Officer the Indenture Trustee of the Trustee in writing of the same such default and, shall, if applicable, in accordance with prevailing REP standards in the Financing Order, instruct the Indenture Trustee either toin writing to either: (i) withdraw from such Third-Party CollectorREP's Third-Party Collector REP Deposit Account subaccount and deposit into the applicable Series 2003-1 Collection Accounts Account the lesser of (x) the amount of cash collateral on deposit in such Third-Party Collector REP Deposit Account and allocable to the Storm Recovery Property subaccount at such time and (y) the amount of any Storm Recovery Series 2003-1 Transition Charges then due and payable by such Third-Party CollectorREP; or (ii) make demand under any letter of credit, guarantee or other credit support up which may be drawn on at such time and deposit such proceeds into the applicable REP Deposit subaccount for forwarding to the lesser of Series 2003-1 Collection subaccount as described in clause (xi) above. In accordance with the amount of such letter of creditIndenture and subject to applicable REP standards in the Financing Order, guarantee or other credit support and (y) the amount of any Storm Recovery Charges then due and payable by such Third-Party Collector, and forward the amounts received, if any, as a result of such demand to the applicable Collection Accounts. The Indenture Trustee shall, within two (2) Business Days of receipt of such written notice, withdraw such funds from the Third-Party Collector applicable REP Deposit Account subaccount or make demand under such credit support, as applicable, and deposit such funds withdrawn or received, as applicable, into the applicable Collection Accounts.

Enforcement of Third-Party Collector Obligations. The Servicer shall, in accordance with the terms of the Tariff, applicable agreements with Third-Party Collectors and other applicable tariffs, ensure that each Third-Party Collector remits all SRC Collections which it is obligated to remit to the Servicer. In the event of any default by any Third-Party Collector, the Servicer shall enforce all rights set forth in and take all other steps permitted by, if applicable, the Applicable Financing Orders, Tariff, other applicable tariffs and any other LPSC Regulations as it determines, in accordance with the Servicing Standard, are reasonably necessary to ensure the prompt payment of SRC Collections by such Third-Party Collector and to preserve the rights of the Holders with respect thereto, including, where appropriate, terminating the right of any Third-Party Collector to bill xxxx and collect Storm Recovery Charges or petitioning the LPSC to impose such other remedies or penalties as may be available under the circumstances. Any agreement entered into between the Servicer and a defaulted Third-Party Collector will be consistent with and limited by the terms of this Agreement and will satisfy the Rating Agency Condition. In the event the Servicer has actual knowledge that a Third-Party Collector is in default, including due to the downgrade by the Rating Agencies of any party providing credit support for such Third-Party Collector, the Servicer shall promptly notify a Responsible Officer of the Trustee in writing of the same and, shall, if applicable, instruct the Trustee either to: (i) withdraw from such Third-Party Collector's ’s Third-Party Collector Deposit Account and deposit into the applicable Collection Accounts the lesser of (x) the amount of cash on deposit in such Third-Party Collector Deposit Account and allocable to the Storm Recovery Property at such time and (y) the amount of any Storm Recovery Charges then due and payable by such Third-Party Collector; or (ii) make demand under any letter of credit, guarantee or other credit support up to the lesser of (x) the amount of such letter of credit, guarantee or other credit support and (y) the amount of any Storm Recovery Charges then due and payable by such Third-Party Collector, and forward the amounts received, if any, as a result of such demand to the applicable Collection Accounts. The Trustee shall, within two (2) Business Days of receipt of such written notice, withdraw such funds from the Third-Party Collector Deposit Account or make demand under such credit support, as applicable, and deposit such funds withdrawn or received, as applicable, into the applicable Collection Accounts.

Enforcement of Third-Party Collector Obligations. The Servicer shall, in accordance with the terms of the Tariff, applicable agreements with Third-Party Collectors and other applicable tariffs, shall ensure that each Third-Party Collector remits all SRC Collections QRSC Payments which it is obligated to remit to the Servicer. In the event of any default by any Third-Party Collector, the Servicer shall enforce all rights set forth in and take all other steps permitted by, if applicable, the Applicable Financing Orders, Tariff, other by any applicable tariffs and any other LPSC Regulations Requirements of Law as it determines, in accordance with the Servicing Standard, are reasonably necessary to ensure the prompt payment of SRC Collections QRSC Payments by such Third-Party Collector and to preserve the rights of the Holders with respect thereto, including, where appropriate, terminating the right of any Third-Party Collector to bill xxxx and collect Storm Recovery Qualified Rate Stabilization Charges or petitioning the LPSC PSC to impose such other remedies or penalties as may be available under the circumstances. Any agreement entered into between the Servicer and a defaulted Third-Party Collector will be consistent with and limited by to the terms of this Agreement and will satisfy the Rating Agency Condition. In the event the Servicer has actual knowledge that a Third-Party Collector is in default, including due to the downgrade by the Rating Agencies of any party providing credit support for such Third-Party Collector, the Servicer shall promptly notify a Responsible Officer of the Indenture Trustee in writing of the same and, shall, if applicable, instruct the Indenture Trustee either to: (i) withdraw from such Third-Party Collector's Third-Party Collector ’s TPC Deposit Account and deposit into the applicable Collection Accounts the lesser of (x) the amount of cash on deposit in such Third-Party Collector TPC Deposit Account and allocable to the Storm Recovery Property at such time and (y) the amount of any Storm Recovery Qualified Rate Stabilization Charges then due and payable by such Third-Party Collector; or (ii) make demand under any letter of credit, guarantee or other credit support up to the lesser of (x) the amount of such letter of credit, guarantee or other credit support and (y) the amount of any Storm Recovery Qualified Rate Stabilization Charges then due and payable by such Third-Party Collector, and forward deposit the amounts received, if any, as a result of such demand to into the applicable Collection Accounts. The Indenture Trustee shall, within two (2) Business Days of receipt of such written notice, withdraw such funds from the Third-Party Collector TPC Deposit Account or make demand under such credit support, as applicable, and deposit such funds withdrawn or received, as applicable, into the applicable Collection Accounts.

Enforcement of Third-Party Collector Obligations. The Servicer shall, in accordance with the terms of the Tariff, applicable agreements with Third-Party Collectors and other applicable tariffs, ensure demand that each Third-Party Collector remits remit all SRC Collections Series 2003-1 TC Payments which it is obligated to remit to the Servicer. In the event of any default by any Third-Party Collector, the Servicer shall enforce all rights set forth in in, and take all other steps permitted by, if applicable, the Applicable Financing Orders, Tariff, other applicable tariffs Tariff and any other LPSC PUCT Regulations as that it determines, in accordance with the Servicing Standard, are reasonably necessary to ensure the prompt payment of SRC Collections Series 2003-1 TC Payments by such Third-Party Collector and to preserve the rights of the Holders with respect thereto, including, where appropriateappropriate and in accordance with applicable REP standards in the Financing Order, terminating the right of any Third-Party Collector to bill and collect Storm Recovery Series 2003-1 Traxxxxion Charges or petitioning the LPSC PUCT to impose such other remedies or penalties as may be available under the circumstances. Any agreement entered into between the Servicer and a defaulted Third-Party Collector will REP shall be consistent with and limited by to the terms of this Agreement and will shall satisfy the Rating Agency Condition. In the event the Servicer has actual knowledge that a Third-Party Collector is in default, including due to caused by, among other things, the downgrade by the Rating Agencies of any party providing credit support for such Third-Party Collector, the Servicer shall promptly notify a Responsible Officer the Indenture Trustee of the Trustee in writing of the same such default and, shall, if applicable, in accordance with prevailing REP standards in the Financing Order, instruct the Indenture Trustee either toin writing to either: (i) withdraw from such Third-Party CollectorREP's Third-Party Collector REP Deposit Account subaccount and deposit into the applicable Series 2003-1 Collection Accounts Account the lesser of (x) the amount of cash collateral on deposit in such Third-Party Collector REP Deposit Account and allocable to the Storm Recovery Property subaccount at such time and (y) the amount of any Storm Recovery Series 2003-1 Transition Charges then due and payable by such Third-Party CollectorREP; or (ii) make demand under any letter of credit, guarantee or other credit support up which may be drawn on at such time and deposit such proceeds into the applicable REP Deposit subaccount for forwarding to the lesser of Series 2003-1 Collection Account as described in clause (xi) above. In accordance with the amount of such letter of creditIndenture and subject to prevailing REP standards in the Financing Order, guarantee or other credit support and (y) the amount of any Storm Recovery Charges then due and payable by such Third-Party Collector, and forward the amounts received, if any, as a result of such demand to the applicable Collection Accounts. The Indenture Trustee shall, within two (2) Business Days of receipt of such written notice, withdraw such funds from the Third-Party Collector applicable REP Deposit Account subaccount or make demand under such credit support, as applicable, and deposit such funds withdrawn or received, as applicable, into the applicable Collection Accounts.

Enforcement of Third-Party Collector Obligations. The Servicer shall, in accordance with the terms of the Tariff, applicable agreements with Third-Party Collectors and other applicable tariffs, shall ensure that each Third-Party Collector remits all SRC Collections QRSC Payments which it is obligated to remit to the Servicer. In the event of any default by any Third-Party Collector, the Servicer shall enforce all rights set forth in and take all other steps permitted by, if applicable, the Applicable Financing Orders, Tariff, other by any applicable tariffs and any other LPSC Regulations Requirements of Law as it determines, in accordance with the Servicing Standard, are reasonably necessary to ensure the prompt payment of SRC Collections QRSC Payments by such Third-Party Collector and to preserve the rights of the Holders with respect thereto, including, where appropriate, terminating the right of any Third-Party Collector to bill bxxx and collect Storm Recovery Qualified Rate Stabilization Charges or petitioning the LPSC PSC to impose such other remedies or penalties as may be available under the circumstances. Any agreement entered into between the Servicer and a defaulted Third-Party Collector will be consistent with and limited by to the terms of this Agreement and will satisfy the Rating Agency Condition. In the event the Servicer has actual knowledge that a Third-Party Collector is in default, including due to the downgrade by the Rating Agencies of any party providing credit support for such Third-Party Collector, the Servicer shall promptly notify a Responsible Officer of the Indenture Trustee in writing of the same and, shall, if applicable, instruct the Indenture Trustee either to: (i) withdraw from such Third-Party Collector's Third-Party Collector ’s TPC Deposit Account and deposit into the applicable Collection Accounts the lesser of (x) the amount of cash on deposit in such Third-Party Collector TPC Deposit Account and allocable to the Storm Recovery Property at such time and (y) the amount of any Storm Recovery Qualified Rate Stabilization Charges then due and payable by such Third-Party Collector; or (ii) make demand under any letter of credit, guarantee or other credit support up to the lesser of (x) the amount of such letter of credit, guarantee or other credit support and (y) the amount of any Storm Recovery Qualified Rate Stabilization Charges then due and payable by such Third-Party Collector, and forward deposit the amounts received, if any, as a result of such demand to into the applicable Collection Accounts. The Indenture Trustee shall, within two (2) Business Days of receipt of such written notice, withdraw such funds from the Third-Party Collector TPC Deposit Account or make demand under such credit support, as applicable, and deposit such funds withdrawn or received, as applicable, into the applicable Collection Accounts.