Common use of Intangible Transition Charges Adjustments Clause in Contracts

Intangible Transition Charges Adjustments. (a) Prior to each Calculation Date, the Servicer shall calculate (i) the Transition Bond Balance as of the Payment Date immediately preceding such Calculation Date (a written copy of which shall be delivered by the Servicer to the Bond Trustee within five days following such Calculation Date) and (ii) the revised Intangible Transition Charges with respect to the Transferred Intangible Transition Property for the then-current Regulatory Period and any subsequent Regulatory Periods until a Payment Date occurs, such that the Servicer projects that ITC Collections therefrom allocable to the First Issuer will be sufficient so that (x) the outstanding principal balance of each outstanding Series will equal the amount provided for in the Expected Amortization Schedule therefor and the amount on deposit in the Overcollateralization Subaccount will equal the Calculated Overcollateralization Level, by the next Adjustment Date or the immediately succeeding Payment Date after such Adjustment Date as specified in the Series Supplement therefor or, if earlier with respect to any Series or Class of Transition Bonds, by the Expected Final Payment Date therefor, taking into account the Available Reserve Amount.

Intangible Transition Charges Adjustments. (a) Prior to each Calculation Date, the Servicer shall calculate (i) the Transition Bond Balance as of the Payment Date immediately preceding such Calculation Date (a written copy of which shall be delivered by the Servicer to the Bond Trustee within five days following such Calculation Date) and (ii) the revised Intangible Transition Charges with respect to the Transferred Intangible Transition Property for the then-current Regulatory Period and any subsequent Regulatory Periods until a Payment Date occurs, such that the Servicer projects that ITC Collections therefrom allocable to the First Issuer will be sufficient so that (x) the outstanding principal balance of each outstanding Series will equal the amount provided for in the Expected Amortization Schedule therefor and therefor, the amount on deposit in the Overcollateralization Subaccount will equal the Calculated Overcollateralization LevelOverxxxxxxxxxxxxxxxxx Xevel and the amount on deposit in the Capital Subaccount will equal the Required Capital Amount, by the next Adjustment Date (or the immediately succeeding Payment Date after such Adjustment Date as if specified in the Series Supplement therefor therefor) or, if earlier with respect to any Series or Class of Transition Bonds, by the Expected Final Payment Date therefor, taking into account the Available Reserve Amount.