Interim True-Up Adjustments and Filings. No later than 60 days prior to the first day of the applicable monthly billing cycle, the Servicer shall: (A) update the data and assumptions underlying the calculation of the Storm Recovery Charges, including projected electricity consumption during the next two Remittance Period for each Storm Recovery Rate Class and including Periodic Principal, interest and estimated expenses and fees of the Issuer to be paid during such period, the rate of delinquencies and write-offs; (B) determine the Periodic Payment Requirement and Periodic Billing Requirement for the next two Remittance Period based on such updated data and assumptions; and (C) based upon such updated data and requirements, project whether existing and projected Storm Recovery Charge Collections together with available fund balances in the Excess Funds Subaccount, will be sufficient (x) to make on a timely basis all scheduled payments of Periodic Principal and interest during such Remittance Period, (y) to pay other Ongoing Financing Costs on a timely basis and (z) to maintain the Capital Subaccount at the Required Capital Level. If the Servicer determines that Storm Recovery Charges will not be sufficient for such purposes, the Servicer shall, no later than the date described in the first sentence of this Section 4.01(b)(ii): (1) determine the Storm Recovery Charges to be allocated to each Storm Recovery Rate Class during the next two Remittance Period based on such Periodic Billing Requirement and the terms of the Financing Order, the Tariff and other tariffs filed pursuant thereto; (2) make all required public notices and other filings with the Commission to reflect the revised Storm Recovery Charges, including any Amendatory Schedule; and (3) take all reasonable actions and make all reasonable efforts to effect such Interim True-Up Adjustment and to enforce the provisions of the Storm Recovery Law and the Financing Order.
Interim True-Up Adjustments and Filings. (A) Within the 30-day period that follows the Scheduled Payment Date that is one year prior to the Scheduled Final Payment Date and quarterly thereafter, the Servicer shall compare the current Outstanding Amount after giving effect to payments to be made on such Payment Date, to the projected Outstanding Amount on the Expected Amortization Schedule as of the next Payment Date. The Servicer shall, no later than 15 days prior to the end of such 30-day period, make a mandatory Interim True-Up Adjustment if the Servicer forecasts that Securitized Utility Tariff Charges will be insufficient (x) to make such remaining payments of interest, principal and other amounts according to the Expected Sinking Fund Schedule in respect of the Securitized Utility Tariff Bonds by the Scheduled Final Payment Date, and (y) to replenish the Capital Subaccount for the Securitized Utility Tariff Bonds to the Required Capital Amount on the next Payment Date. For the avoidance of doubt, beginning twelve months prior to the Scheduled Final Payment Date, the Servicer shall make an Interim True-Up Adjustment, if required in accordance with this clause (ii)(A), three months prior to each Semi-Annual True-Up Adjustment Date.
Interim True-Up Adjustments and Filings. In addition, the Servicer at any time may make an Interim True-Up Adjustment if the Servicer forecasts that SRC Collections will be insufficient (a) to make all scheduled payments of interest, principal and other amounts in respect of any Outstanding Tranche of Storm Recovery Bonds during the current and next succeeding semi-annual period or quarterly period, as applicable, and (b) to replenish the Capital Subaccount to the Required Capital Level (which shall include an amount sufficient to pay in full any investment return due and owing to ENO pursuant to the terms of the Financing Order), and it further determines that the semi-annual or quarterly true up adjustments described above in clause (i) or this clause (ii) need to be supplemented to enhance the likelihood that the Storm Recovery Bonds are paid on a timely basis.
Interim True-Up Adjustments and Filings. In addition, the Servicer at any time may make an Interim True-Up Adjustment if the Servicer forecasts that IRC Collections will be insufficient (a) to make all scheduled payments of interest, principal and other amounts in respect of any Outstanding Tranche of Investment Recovery Bonds during the current and next succeeding semi-annual period or quarterly period, as applicable, and (b) to replenish the Capital Subaccount to the Required Capital Level (including any required investment return to ELL), and it further determines that the semi-annual or quarterly true up adjustments described above in clause (i) or this clause (ii) need to be supplemented to enhance the likelihood that the Investment Recovery Bonds are paid on a timely basis.
Interim True-Up Adjustments and Filings. In the month prior to each Series 2004-1 Payment Date, the Servicer shall compare the anticipated Series 2004-1 Unrecovered Balance, as of such Series 2004-1 Payment Date and after giving effect to payments to be made on such Series 2004-1 Payment Date, to the Series 2004-1 Projected Unrecovered Balance as of such Series 2004-1
Interim True-Up Adjustments and Filings. In addition, the Servicer at any time may make an Interim True-Up Adjustment if the Servicer forecasts that SRC Collections will be insufficient (a) to make all scheduled payments of interest, principal and other amounts in respect of any Outstanding Tranche of Storm Recovery Bonds during the current and next succeeding semi-annual period or quarterly period, as applicable, and (b) to replenish the Capital Subaccount to the Required Capital Level (which shall include an amount sufficient to pay in full any investment return due and owing to ENO pursuant to the terms of the Financing Order), and it further determines that the semi-annual or quarterly true up adjustments described above in clause (i) or this clause (ii) need to be supplemented to enhance the likelihood that the Storm Recovery Bonds are paid on a timely basis. (iii)Non-Standard True-Ups. The Servicer shall request Council approval of an amendment to the true-up mechanism described herein - a “Non-Standard True-Up” (under such procedures as shall be proposed by the Servicer and approved by the Council at the time) that it deems necessary or appropriate to address any material deviations between SRC Collections and the PPR. No such change shall become effective unless the Rating Agency Condition has been satisfied. (b)
