Common use of Interim True-Up Adjustments and Filings Clause in Contracts

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.

Appears in 4 contracts

Samples: Storm Recovery Property Servicing Agreement, Storm Recovery Property Servicing Agreement (Entergy New Orleans Storm Recovery Funding I, L.L.C.), Storm Recovery Property Servicing Agreement (Entergy New Orleans Storm Recovery Funding I, L.L.C.)

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