Common use of Financing Order; Other Approvals Clause in Contracts

Financing Order; Other Approvals. On the Closing Date, under the laws of the State of Michigan and the United States in effect on the Closing Date: (i) the Financing Order pursuant to which the rights and interests of the Seller, including the right of Consumers Energy and any Successor to impose, collect and receive the Securitization Charges and the interest in and to the Securitization Property transferred on such date have been created, is Final and is in full force and effect; (ii) as of the issuance of the Securitization Bonds, the Securitization Bonds are entitled to the protection of the Securitization Law and, accordingly, the Financing Order and the Securitization Charges are not revocable by the Commission; (iii) as of the issuance of the Securitization Bonds, the Securitization Rate Schedule has been filed and is in full force and effect, the Securitization Rate Schedule is consistent with the Financing Order, and any electric tariff implemented consistent with a financing order issued by the Commission is not subject to modification by the Commission except for true-up adjustments made in accordance with the Securitization Law; (iv) the process by which the Financing Order creating the Securitization Property transferred on such date was adopted and approved complies with all applicable laws, rules and regulations; (v) the Financing Order is not subject to appeal and is legally enforceable, and the process by which it was issued complied with all applicable laws, rules and regulations; and (vi) no other approval, authorization, consent, order or other action of, or filing with, any Governmental Authority is required in connection with the creation of the Securitization Property transferred on such date, except those that have been obtained or made.

Financing Order; Other Approvals. On the Closing Date, under the laws of the State of Michigan and the United States in effect on the Closing Date: (i) the Financing Order pursuant to which the rights and interests of the Seller, including the right of Consumers Energy and any Successor to impose, collect and receive the Securitization Charges and the interest in and to the Securitization Property transferred on such date have been created, is Final and is in full force and effect; (ii) as of the issuance of the Securitization Bonds, the Securitization Bonds are entitled to the protection of protections provided by the Securitization Law Statute and, accordingly, the Financing Order and the Securitization Charges are not revocable by the Commission; (iii) as of the issuance of Closing Date, revisions to the Seller’s electric tariff to implement the Securitization Bonds, the Securitization Rate Schedule has Charges have been filed and is in full force and effect, the Securitization Rate Schedule is such revisions are consistent with the terms of the Financing Order, and any electric tariff implemented consistent with a financing order issued by the Commission Financing Order is not subject to modification by the Commission except for trueTrue-up adjustments Up Adjustments made in accordance with the Securitization LawStatute; (iv) the process by which the Financing Order creating the Securitization Property transferred on such date was adopted and approved complies with all applicable laws, rules and regulations; (v) the Financing Order is not subject to appeal and is legally enforceable, and the process by which it was issued complied with all applicable laws, rules and regulations; and (vi) no other approval, authorization, consent, order or other action of, or filing with, any Governmental Authority is required in connection with the creation of the Securitization Property transferred on such date, except those that have been obtained or made.

Financing Order; Other Approvals. On the Closing Date, under the laws of the State of Michigan and the United States in effect on the Closing Date: (i) the Financing Order pursuant to which the rights and interests of the Seller, including the right of Consumers Energy and any Successor to impose, collect and receive the Securitization Charges and the interest in and to the Securitization Property transferred on such date have been created, is Final and is in full force and effect; (ii) as of the issuance of the Securitization Bonds, the Securitization Bonds are entitled to the protection of provided by the Securitization Law Statute and, accordingly, the Financing Order and the Securitization Charges are not revocable by the Commission; (iii) as of the issuance of Closing Date, revisions to the Seller’s electric tariff to implement the Securitization Bonds, the Securitization Rate Schedule has Charges have been filed and is are in full force and effect, and such revisions are consistent with the Securitization Rate Schedule is Financing Order and have been implemented consistent with the Financing Order, and any electric tariff implemented consistent with a financing order issued by the Commission is not subject to modification by the Commission except for true-up adjustments made in accordance with the Securitization Law; (iv) the process by which the Financing Order creating the Securitization Property transferred on such date was adopted and approved complies with all applicable laws, rules and regulations; (v) the Financing Order is not subject to appeal and is legally enforceable, and the process by which it was issued complied with all applicable laws, rules and regulations; and (vi) no other approval, authorization, consent, order or other action of, or filing with, any Governmental Authority is required in connection with the creation of the Securitization Property transferred on such date, except those that have been obtained or made.

Financing Order; Other Approvals. On the Closing Date, under the laws of the State of Michigan and the United States in effect on the Closing Date: (i) the Financing Order pursuant to which the rights and interests of the Seller, including the right of Consumers Energy and any Successor to impose, collect and receive the Securitization Charges and the interest in and to the Securitization Property transferred on such date have been created, is Final and is in full force and effect; (ii) as of the issuance of the Securitization Bonds, the Securitization Bonds are entitled to the protection of protections provided by the Securitization Law Statute and, accordingly, the Financing Order and the Securitization Charges are not revocable by the Commission; (iii) as of the issuance of Closing Date, revisions to the Seller’s electric tariff to implement the Securitization Bonds, the Securitization Rate Schedule has Charges have been filed and is in full force and effect, the Securitization Rate Schedule is are consistent with under the terms of the Financing Order, and any electric tariff implemented consistent with a financing order Financing Order issued by the Commission is not subject to modification by the Commission except for trueTrue-up adjustments Up Adjustments made in accordance with the Securitization LawStatute; (iv) the process by which the Financing Order creating the Securitization Property transferred on such date was adopted and approved complies approved, and the Financing Order and the Securitization Rate Schedules themselves, comply with all applicable laws, rules and regulations; (v) the Financing Order is not subject to appeal and is legally enforceable, and the process by which it was issued complied with all applicable laws, rules and regulations; and (vi) no other approval, authorization, consent, order or other action of, or filing with, with any Governmental Authority is required in connection with the creation of the Securitization Property transferred on such date, except those that have been obtained or made.