Common use of Limitation of Proceedings Clause in Contracts

Limitation of Proceedings. No Holder of any Environmental Control Bond of any Series shall have any right to institute any Proceeding, judicial or otherwise, or to avail itself of the remedies provided in the Statute, with respect to this Indenture and the related Series Supplement, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: (i) such Holder has previously given written notice to the Indenture Trustee of a continuing Event of Default with respect to such Series; (ii) the Holders of not less than 25% of the Outstanding Amount of the Environmental Control Bonds of each Series have made written request to the Indenture Trustee to institute such Proceeding in respect of such Event of Default in its own name as Indenture Trustee hereunder; (iii) such Holder or Holders have offered to the Indenture Trustee security or indemnity reasonably satisfactory to the Indenture Trustee against the costs, expenses and liabilities to be incurred in complying with such request; (iv) the Indenture Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute such Proceedings; and (v) no direction inconsistent with such written request has been given to the Indenture Trustee during such 60-day period by the Holders of a majority of the Outstanding Amount of the Environmental Control Bonds of all Series; it being understood and intended that no one or more Holders of Environmental Control Bonds shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Environmental Control Bonds or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided. In the event the Indenture Trustee shall receive conflicting or inconsistent requests and indemnity from two or more groups of Holders of Environmental Control Bonds, each representing less than a majority of the Outstanding Amount of the Environmental Control Bonds of all Series, the Indenture Trustee in its sole discretion may determine what action, if any, shall be taken, notwithstanding any other provisions of this Indenture.

Limitation of Proceedings. (a) No Holder of any Environmental Control Securitiza tion Bond of any Series shall have any right to institute any Proceeding, judicial or otherwise, or to avail itself of the any remedies provided in the StatuteCustomer Choice Act, with respect to this Indenture and the related Series SupplementIndenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: (i) such Holder has previously given written notice to the Indenture Trustee of a continuing Event of Default with respect to such SeriesDefault; (ii) the Holders of not less than twenty-five percent (25% %) of the Outstanding Amount of the Environmental Control Securitization Bonds of each all Series have made written request to the Indenture Trustee to institute such Proceeding in respect of such Event of Default in its own name as Indenture Trustee hereunder; (iii) such Holder or Holders have offered to the Indenture Trustee security or indemnity reasonably satisfactory to the Indenture Trustee against the costs, expenses and liabilities to be incurred in complying with such request; (iv) the Indenture Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute such Proceedings; and (v) no direction inconsistent with such written request has been given to the Indenture Trustee during such 60-60 day period by the Holders of a majority of the Outstanding Amount of the Environmental Control Securitization Bonds of all Series; it being understood and intended that no one or more Holders of Environmental Control Securitization Bonds shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Environmental Control Securitization Bonds or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided. . (b) In the event the Indenture Trustee shall receive conflicting or inconsistent requests and indemnity from two or more groups of Holders of Environmental Control Securitization Bonds, each representing less than a majority of the Outstanding Amount of the Environmental Control Securitization Bonds of all Series, the Indenture Trustee in its sole discretion may determine what action, if any, shall be taken, notwithstanding any other provisions of this Indenture.

Limitation of Proceedings. No Holder of any Environmental Control Transition Bond of any Series shall have any right to institute any Proceeding, judicial or otherwise, or to avail itself of the remedies provided in Section 2812(d)(3)(v) of the Statute, with respect to this Indenture and the related Series SupplementIndenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: (i) such Holder has previously given written notice to the Indenture Bond Trustee of a continuing Event of Default with respect to such SeriesDefault; (ii) the Holders of not less than 25% of the Outstanding Amount of the Environmental Control Transition Bonds of each Series have made written request to the Indenture Bond Trustee to institute such Proceeding in respect of such Event of Default in its own name as Indenture Bond Trustee hereunder; (iii) such Holder or Holders have offered to the Indenture Bond Trustee security or indemnity reasonably satisfactory to the Indenture Bond Trustee against the costs, expenses and liabilities to be incurred in complying with such request; (iv) the Indenture Bond Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute such Proceedings; and (v) no direction inconsistent with such written request has been given to the Indenture Bond Trustee during such 60-day period by the Holders of a majority of the Outstanding Amount of the Environmental Control Transition Bonds of all Series; it being understood and intended that no one or more Holders of Environmental Control Transition Bonds shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Environmental Control Transition Bonds or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided. In the event the Indenture Bond Trustee shall receive conflicting or inconsistent requests and indemnity from two or more groups of Holders of Environmental Control Transition Bonds, each representing less than a majority of the Outstanding Amount of the Environmental Control Transition Bonds of all Series, the Indenture Bond Trustee in its sole discretion may determine what action, if any, shall be taken, notwithstanding any other provisions of this Indenture.

Limitation of Proceedings. No Holder of any Environmental Control Transition Bond of any Series shall have any right to institute any Proceeding, judicial or otherwise, or to avail itself of the remedies provided in Section 2812(d)(3)(v) of the Statute, with respect to this Indenture and the related Series SupplementIndenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: (i) such Holder has previously given written notice to the Indenture Bond Trustee of a continuing Event of Default with respect to such SeriesDefault; (ii) the Holders of not less than 25% of the Outstanding Amount of the Environmental Control Transition Bonds of each all Series have made written request to the Indenture Bond Trustee to institute such Proceeding in respect of such Event of Default in its own name as Indenture Bond Trustee hereunder; (iii) such Holder or Holders have offered to the Indenture Bond Trustee security or indemnity reasonably satisfactory to the Indenture Bond Trustee against the costs, expenses and liabilities to be incurred in complying with such request; (iv) the Indenture Bond Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute such Proceedings; and (v) no direction inconsistent with such written request has been given to the Indenture Bond Trustee during such 60-day period by the Holders of a majority of the Outstanding Amount of the Environmental Control Transition Bonds of all Series; it being understood and intended that no one or more Holders of Environmental Control Transition Bonds shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Environmental Control Transition Bonds or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided. In the event the Indenture Bond Trustee shall receive conflicting or inconsistent requests and indemnity from two or more groups of Holders of Environmental Control Transition Bonds, each representing less than a majority of the Outstanding Amount of the Environmental Control Transition Bonds of all Series, the Indenture Bond Trustee in its sole discretion may determine what action, if any, shall be taken, notwithstanding any other provisions of this Indenture.

Limitation of Proceedings. No Holder of any Environmental Control Transition Bond of any Series shall have any right to institute any Proceeding, judicial or otherwise, or to avail itself of the remedies provided in Section 2812(d)(3)(v) of the StatuteCompetition Act, with respect to this Indenture and the related Series SupplementIndenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: (i) such Holder has previously given written notice to the Indenture Trustee of a continuing Event of Default with respect to such SeriesDefault; (ii) the Holders of not less than 25% of the Outstanding Amount of the Environmental Control Transition Bonds of each all Series have made written request to the Indenture Trustee to institute such Proceeding in respect of such Event of Default in its own name as Indenture Trustee hereunder; (iii) such Holder or Holders have offered to the Indenture Trustee security or indemnity reasonably satisfactory to the Indenture Trustee against the costs, expenses and liabilities to be incurred in complying with such request; (iv) the Indenture Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute such Proceedings; and (v) no direction inconsistent with such written request has been given to the Indenture Trustee during such 60-day period by the Holders of a majority of the Outstanding Amount of the Environmental Control Transition Bonds of all Series; it being understood and intended that no one or more Holders of Environmental Control Transition Bonds shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Environmental Control Transition Bonds or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided. In the event the Indenture Trustee shall receive conflicting or inconsistent requests and indemnity from two or more groups of Holders of Environmental Control Transition Bonds, each representing less than a majority of the Outstanding Amount of the Environmental Control Transition Bonds of all Series, the Indenture Trustee in its sole discretion may determine what action, if any, shall be taken, notwithstanding any other provisions of this Indenture.

Limitation of Proceedings. (a) No Holder of any Environmental Control BGS Transition Bond of any Series shall have any right to institute any Proceeding, judicial or otherwise, or to avail itself of the any remedies provided in the StatuteCompetition Act, with respect to this Indenture and the related Series SupplementIndenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: (i) such Holder has previously given written notice to the Indenture Trustee of a continuing Event of Default with respect to such SeriesDefault; (ii) the Holders of not less than twenty-five percent (25% %) of the Outstanding Amount of the Environmental Control BGS Transition Bonds of each all Series have made written request to the Indenture Trustee to institute such Proceeding in respect of such Event of Default in its own name as Indenture Trustee hereunder; (iii) such Holder or Holders have offered to the Indenture Trustee security or indemnity reasonably satisfactory to the Indenture Trustee against the costs, expenses and liabilities to be incurred in complying with such request; (iv) the Indenture Trustee for 60 sixty (60) days after its receipt of such notice, request and offer of indemnity has failed to institute such Proceedings; and (v) no direction inconsistent with such written request has been given to the Indenture Trustee during such sixty (60-) day period by the Holders of a majority of the Outstanding Amount of the Environmental Control BGS Transition Bonds of all Series; it being understood and intended that no one or more Holders of Environmental Control BGS Transition Bonds shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Environmental Control BGS Transition Bonds or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided. . (b) In the event the Indenture Trustee shall receive conflicting or inconsistent requests and indemnity from two or more groups of Holders of Environmental Control BGS Transition Bonds, each representing less than a majority of the Outstanding Amount of the Environmental Control BGS Transition Bonds of all Series, the Indenture Trustee in its sole discretion may determine what action, if any, shall be taken, notwithstanding any other provisions of this Indenture.

Limitation of Proceedings. (a) No Holder of any Environmental Control Transition Bond of any Series shall have any right to institute any Proceeding, judicial or otherwise, to avail itself of any remedies provided in the Competition Act or to avail itself of the remedies provided in right to foreclose on the StatuteBondable Transition Property or otherwise enforce the Lien on the Bondable Transition Property, with respect to this Indenture and the related Series SupplementIndenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: (i) such Holder has previously given written notice to the Indenture Trustee of a continuing Event of Default with respect to such SeriesDefault; (ii) the Holders of not less than 25% twenty-five percent of the Outstanding Amount of the Environmental Control Transition Bonds of each all Series have made written request to of the Indenture Trustee to institute such Proceeding in respect of such Event of Default in its own name as Indenture Trustee hereunder; (iii) such Holder or Holders have offered to the Indenture Trustee security or indemnity reasonably satisfactory to the Indenture Trustee against the costs, expenses and liabilities to be incurred in complying with such request; (iv) the Indenture Trustee for 60 sixty days after its receipt of such notice, request and offer of indemnity has failed to institute such ProceedingsProceeding; and (v) no direction inconsistent with such written request has been given to the Indenture Trustee during such 60-sixty day period by the Holders of a majority of the Outstanding Amount of the Environmental Control Transition Bonds of all Series; it being understood and intended that no one or more Holders of Environmental Control Bonds shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Environmental Control Bonds or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided. . (b) In the event the Indenture Trustee shall receive conflicting or inconsistent requests and indemnity from two or more groups of Holders of Environmental Control BondsHolders, each representing less than a majority of the Outstanding Amount of the Environmental Control Transition Bonds of all Series, the Indenture Trustee in its sole discretion may determine what action, if any, shall be taken, notwithstanding any other provisions of this Indenture.

Limitation of Proceedings. (a) No Holder of any Environmental Control Transition Bond of any Series shall have any right to institute any Proceeding, judicial or otherwise, or to avail itself of the any remedies provided in the StatuteCompetition Act, with respect to this Indenture and the related Series SupplementIndenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: (i) such Holder has previously given written notice to the Indenture Trustee of a continuing Event of Default with respect to such SeriesDefault; (ii) the Holders of not less than twenty-five percent (25% %) of the Outstanding Amount of the Environmental Control Transition Bonds of each all Series have made written request to the Indenture Trustee to institute such Proceeding in respect of such Event of Default in its own name as Indenture Trustee hereunder; (iii) such Holder or Holders have offered to the Indenture Trustee security or indemnity reasonably satisfactory to the Indenture Trustee against the costs, expenses and liabilities to be incurred in complying with such request; (iv) the Indenture Trustee for 60 sixty (60) days after its receipt of such notice, request and offer of indemnity has failed to institute such Proceedings; and (v) no direction inconsistent with such written request has been given to the Indenture Trustee during such sixty (60-) day period by the Holders of a majority of the Outstanding Amount of the Environmental Control Transition Bonds of all Series; it being understood and intended that no one or more Holders of Environmental Control Transition Bonds shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Environmental Control Transition Bonds or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided. . (b) In the event the Indenture Trustee shall receive conflicting or inconsistent requests and indemnity from two or more groups of Holders of Environmental Control Transition Bonds, each representing less than a majority of the Outstanding Amount of the Environmental Control Transition Bonds of all Series, the Indenture Trustee in its sole discretion may determine what action, if any, shall be taken, notwithstanding any other provisions of this Indenture.

Limitation of Proceedings. (a) No Holder of any Environmental Control Securitization Bond of any Series shall have any right to institute any Proceeding, judicial or otherwise, or to avail itself of the any remedies provided in the Statute, with respect to this Indenture and the related Series SupplementIndenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: (i) such Holder has previously given written notice to the Indenture Trustee of a continuing Event of Default with respect to such SeriesDefault; (ii) the Holders of not less than twenty-five percent (25% %) of the Outstanding Amount of the Environmental Control Securitization Bonds of each all Series have made written request to the Indenture Trustee to institute such Proceeding in respect of such Event of Default in its own name as Indenture Trustee hereunder; (iii) such Holder or Holders have offered to the Indenture Trustee security or indemnity reasonably satisfactory to the Indenture Trustee against the costs, expenses and liabilities to be incurred in complying with such request; (iv) the Indenture Trustee for 60 sixty (60) days after its receipt of such notice, request and offer of indemnity has failed to institute such Proceedings; and (v) no direction inconsistent with such written request has been given to the Indenture Trustee during such sixty (60-) day period by the Holders of a majority of the Outstanding Amount of the Environmental Control Securitization Bonds of all Series; it being understood and intended that no one or more Holders of Environmental Control Securitization Bonds shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Environmental Control Securitization Bonds or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided. . (b) In the event the Indenture Trustee shall receive conflicting or inconsistent requests and indemnity from two or more groups of Holders of Environmental Control Securitization Bonds, each representing less than a majority of the Outstanding Amount of the Environmental Control Securitization Bonds of all Series, the Indenture Trustee in its sole discretion may determine what action, if any, shall be taken, notwithstanding any other provisions of this Indenture.

Limitation of Proceedings. No Holder of any Environmental Control Transition Bond of any Series shall have any right to institute any Proceeding, judicial or otherwise, or to avail itself of the remedies provided in Section 39.309(f) of the StatuteTexas Electric Choice Plan, with respect to this Indenture and the related Series SupplementIndenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: (i) such Holder has previously given written notice to the Indenture Trustee of a continuing Event of Default with respect to such the affected Series; (ii) the Holders of not less than 25% a majority of the Outstanding Amount of the Environmental Control Transition Bonds of each such Series have made written request to the Indenture Trustee to institute such Proceeding in respect of such Event of Default in its own name as Indenture Trustee hereunder; (iii) such Holder or Holders have offered to the Indenture Trustee security or indemnity reasonably satisfactory to the Indenture Trustee against the costs, expenses and liabilities to be incurred in complying with such request; (iv) the Indenture Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute such Proceedings; and (v) no direction inconsistent with such written request has been given to the Indenture Trustee during such 60-day period by the Holders of a majority of the Outstanding Amount of the Environmental Control Transition Bonds of all such Series; , it being understood and intended that no one or more Holders of Environmental Control Transition Bonds shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Environmental Control Transition Bonds or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided. In the event the Indenture Trustee shall receive conflicting or inconsistent requests and indemnity from two or more groups of Holders of Environmental Control Transition Bonds, each representing less than a majority of the Outstanding Amount of the Environmental Control Transition Bonds of all Series, the Indenture Trustee in its sole discretion may determine what action, if any, shall be taken, notwithstanding any other provisions of this Indenture.

Limitation of Proceedings. (a) No Holder of any Environmental Control Bond of any Series shall have any right to institute any Proceeding, judicial or otherwise, or to avail itself of the any remedies provided in the Statute, with respect to this Indenture and the related Series SupplementIndenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: (i) such Holder has previously given written notice to the Indenture Trustee of a continuing Event of Default with respect to such SeriesDefault; (ii) the Holders of not less than 25% of the Outstanding Amount of the Environmental Control Bonds of each Series have made written request to the Indenture Trustee to institute such Proceeding in respect of such Event of Default in its own name as Indenture Trustee hereunder; (iii) such Holder or Holders have offered to the Indenture Trustee security or indemnity reasonably satisfactory to the Indenture Trustee against the costs, expenses and liabilities to be incurred in complying with such request; (iv) the Indenture Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute such Proceedings; and (v) no direction inconsistent with such written request has been given to the Indenture Trustee during such 60-day period by the Holders of a majority of the Outstanding Amount of the Environmental Control Bonds of all SeriesBonds; it being understood and intended that no one or more Holders of Environmental Control Bonds shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Environmental Control Bonds or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided. provided and for the equal and ratable benefit of all Holders of the Storm-Recovery Bonds. (b) In the event the Indenture Trustee shall receive conflicting or inconsistent requests and indemnity from two or more groups of Holders of Environmental Control BondsHolders, each representing less than a majority of the Outstanding Amount of the Environmental Control Bonds of all SeriesBonds, the Indenture Trustee in its sole discretion may determine what action, if any, shall be taken, notwithstanding any other provisions of this Indenture.

Limitation of Proceedings. No Holder of any Environmental Control Transition Bond of any Series or Class shall have any right to institute any Proceeding, judicial or otherwise, or to avail itself of the remedies provided in the Statute, with respect to this Indenture and (including under the related Series Supplement, Competition Act or for the appointment of a receiver or trustee), or to foreclose on the Bondable Transition Property or otherwise enforce the Lien on the Collateral, or for any other remedy hereunderunder this Indenture, unless: (i) such Holder has previously given written notice to the Indenture Trustee of a continuing Event of Default with respect to such SeriesDefault; (ii) the Holders of not less than 25% of the Outstanding Amount of the Environmental Control Transition Bonds of each all Series have made written request to the Indenture Trustee to institute such Proceeding in respect of such Event of Default in its own name as Indenture Trustee hereunder; (iii) such Holder or Holders have offered to the Indenture Trustee security or indemnity reasonably satisfactory to the Indenture Trustee against the costs, expenses and liabilities to be incurred in complying with such request; (iv) the Indenture Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute such ProceedingsProceeding; and (v) no direction inconsistent with such written request has been given to the Indenture Trustee during such 60-60 day period by the Holders of a majority of the Outstanding Amount of the Environmental Control Transition Bonds of all Series; it being understood and intended that no one or more Holders of Environmental Control Transition Bonds shall have any right in any manner whatever by virtue of, or by availing themselves of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Environmental Control Transition Bonds or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided. In the event the Indenture Trustee shall receive conflicting or inconsistent requests and indemnity from two or more groups of Holders of Environmental Control Bonds, each representing less than a majority of the Outstanding Amount of the Environmental Control Bonds of all Series, the Indenture Trustee in its sole discretion may determine what action, if any, shall be taken, notwithstanding any other provisions of this Indenture.

Limitation of Proceedings. (a) No Holder of any Environmental Control Bond of any Series shall have any right to institute any Proceeding, judicial or otherwise, or to avail itself of the any remedies provided in the Statute, with respect to this Indenture and the related Series SupplementIndenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: : (i) such Holder has previously given written notice to the Indenture Trustee of a continuing Event of Default with respect to such Series; Default; (ii) the Holders of not less than 25% of the Outstanding Amount of the Environmental Control Bonds of each Series have made written request to the Indenture Trustee to institute such Proceeding in respect of such Event of Default in its own name as Indenture Trustee hereunder; ; (iii) such Holder or Holders have offered to the Indenture Trustee security or indemnity reasonably satisfactory to the Indenture Trustee against the costs, expenses and liabilities to be incurred in complying with such request; ; (iv) the Indenture Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute such Proceedings; and and (v) no direction inconsistent with such written request has been given to the Indenture Trustee during such 60-day period by the Holders of a majority of the Outstanding Amount of the Environmental Control Bonds of all SeriesBonds; it being understood and intended that no one or more Holders of Environmental Control Bonds shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Environmental Control Bonds or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided. provided and for the equal and ratable benefit of all Holders of the Storm-Recovery Bonds. (b) In the event the Indenture Trustee shall receive conflicting or inconsistent requests and indemnity from two or more groups of Holders of Environmental Control BondsHolders, each representing less than a majority of the Outstanding Amount of the Environmental Control Bonds of all SeriesBonds, the Indenture Trustee in its sole discretion may determine what action, if any, shall be taken, notwithstanding any other provisions of this Indenture.

Limitation of Proceedings. (a) No Holder of any Environmental Control Transition Bond of any Series shall have any right to institute any Proceeding, judicial or otherwise, or to avail itself of the any remedies provided in the StatuteCompetition Act, with respect to this Indenture and the related Series SupplementIndenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: (i) such Holder has previously given written notice to the Indenture Trustee of a continuing Event of Default with respect to such SeriesDefault; (ii) the Holders of not less than 25% of the Outstanding Amount of the Environmental Control Transition Bonds of each all Series have made written request to the Indenture Trustee to institute such Proceeding in respect of such Event of Default in its own name as Indenture Trustee hereunder; (iii) such Holder or Holders have offered to the Indenture Trustee security or indemnity reasonably satisfactory to the Indenture Trustee against the costs, expenses and liabilities to be incurred in complying with such request; (iv) the Indenture Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute such Proceedings; and (v) no direction inconsistent with such written request has been given to the Indenture Trustee during such 60-60 day period by the Holders of a majority of the Outstanding Amount of the Environmental Control Transition Bonds of all Series; it being understood and intended that no one or more Holders of Environmental Control Transition Bonds shall have any right in any manner whatever by virtue of, or by availing themselves of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Environmental Control Transition Bonds or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided. . (b) In the event the Indenture Trustee shall receive conflicting or inconsistent requests and indemnity from two or more groups of Holders of Environmental Control Transition Bonds, each representing less than a majority of the Outstanding Amount of the Environmental Control Transition Bonds of all Series, the Indenture Trustee in its sole discretion may determine what action, if any, shall be taken, notwithstanding any other provisions of this Indenture.

Limitation of Proceedings. (a) No Holder of any Environmental Control Transition Bond of any Series shall have any right to institute any Proceeding, judicial or otherwise, to avail itself of any remedies provided in the Competition Act or to avail itself of the remedies provided in right to foreclose on the StatuteBondable Transition Property or otherwise enforce the Lien on the Bondable Transition Property, with respect to this Indenture and the related Series SupplementIndenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: (i) such Holder has previously given written notice to the Indenture Trustee of a continuing Event of Default with respect to such SeriesDefault; (ii) the Holders of not less than 25% twenty-five percent of the Outstanding Amount of the Environmental Control Transition Bonds of each all Series have made written request to of the Indenture Trustee to institute such Proceeding in respect of such Event of Default in its own name as Indenture Trustee hereunder; (iii) such Holder or Holders have offered to the Indenture Trustee security or indemnity reasonably satisfactory to the Indenture Trustee against the costs, expenses and liabilities to be incurred in complying with such request; (iv) the Indenture Trustee for 60 sixty days after its receipt of such notice, request and offer of indemnity has failed to institute such ProceedingsProceeding; and (v) no direction inconsistent with such written request has been given to the Indenture Trustee during such 60-sixty day period by the Holders of a majority of the Outstanding Amount of the Environmental Control Transition Bonds of all Series; it being understood and intended that no one or more Holders of Environmental Control Transition Bonds shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Environmental Control Transition Bonds or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided. . (b) In the event the Indenture Trustee shall receive conflicting or inconsistent requests and indemnity from two or more groups of Holders of Environmental Control Transition Bonds, each representing less than a majority of the Outstanding Amount of the Environmental Control Transition Bonds of all Series, the Indenture Trustee in its sole discretion may determine what action, if any, shall be taken, notwithstanding any other provisions of this Indenture.

Limitation of Proceedings. No Holder of any Environmental Control Bond of any Series shall have any right to institute any Proceeding, judicial or otherwise, or to avail itself of the remedies provided in Section 39.309(f) of the StatutePublic Utility Regulatory Act, with respect to this Indenture and the related Series SupplementIndenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: (i) such Holder has previously given written notice to the Indenture Trustee of a continuing Event of Default with respect to such SeriesDefault; (ii) the Holders of not less than 25% a majority of the Outstanding Amount of the Environmental Control Bonds of each Series have made written request to the Indenture Trustee to institute such Proceeding in respect of such Event of Default in its own name as Indenture Trustee hereunder; (iii) such Holder or Holders have offered to the Indenture Trustee security or indemnity reasonably satisfactory to the Indenture Trustee against the costs, expenses and liabilities to be incurred in complying with such request; (iv) the Indenture Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute such Proceedings; and (v) no direction inconsistent with such written request has been given to the Indenture Trustee during such 60-day period by the Holders of a majority of the Outstanding Amount of the Environmental Control Bonds of all Series; Bonds, it being understood and intended that no one or more Holders of Environmental Control the Bonds shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Environmental Control the Bonds or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided. In the event the Indenture Trustee shall receive conflicting or inconsistent requests and indemnity from two or more groups of Holders of Environmental Control the Bonds, each representing less than a majority of the Outstanding Amount of the Environmental Control Bonds of all SeriesBonds, the Indenture Trustee in its sole discretion may determine what action, if any, shall be taken, notwithstanding any other provisions of this Indenture.

Limitation of Proceedings. No Holder of any Environmental Control Transition Bond of any Series shall have any right to institute any Proceeding, judicial or otherwise, or to avail itself of the remedies provided in Section 39.309(f) of the StatuteTexas Electric Choice Plan, with respect to this Indenture and the related Series SupplementIndenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: (i) such Holder has previously given written notice to the Indenture Trustee of a continuing Event of Default with respect to such SeriesDefault; (ii) the Holders of not less than 25% of the Outstanding Amount of the Environmental Control Transition Bonds of each all Series have made written request to the Indenture Trustee to institute such Proceeding in respect of such Event of Default in its own name as Indenture Trustee hereunder; (iii) such Holder or Holders have offered to the Indenture Trustee security or indemnity reasonably satisfactory to the Indenture Trustee against the costs, expenses and liabilities to be incurred in complying with such request; (iv) the Indenture Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute such Proceedings; and (v) no direction inconsistent with such written request has been given to the Indenture Trustee during such 60-day period by the Holders of a majority of the Outstanding Amount of the Environmental Control Bonds of all Series; Majority Holders, it being understood and intended that no one or more Holders of Environmental Control Transition Bonds shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Environmental Control Transition Bonds or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided. In the event the Indenture Trustee shall receive conflicting or inconsistent requests and indemnity from two or more groups of Holders of Environmental Control Transition Bonds, each representing less than a majority of the Outstanding Amount of the Environmental Control Transition Bonds of all Series, the Indenture Trustee in its sole discretion may determine what action, if any, shall be taken, notwithstanding any other provisions of this Indenture.

Limitation of Proceedings. No Holder of any Environmental Control Transition Bond of any Series shall have any right to institute any Proceeding, judicial or otherwise, or to avail itself of the remedies provided in Section 2812(d)(3)(v) of the Statute, with respect to this Indenture and the related Series SupplementIndenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: (i) such Holder has previously given written notice to the Indenture Bond Trustee of a continuing Event of Default with respect to such Series;Default; 43 38 (ii) the Holders of not less than 25% of the Outstanding Amount of the Environmental Control Transition Bonds of each Series have made written request to the Indenture Bond Trustee to institute such Proceeding in respect of such Event of Default in its own name as Indenture Bond Trustee hereunder; (iii) such Holder or Holders have offered to the Indenture Bond Trustee security or indemnity reasonably satisfactory to the Indenture Bond Trustee against the costs, expenses and liabilities to be incurred in complying with such request; (iv) the Indenture Bond Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute such Proceedings; and (v) no direction inconsistent with such written request has been given to the Indenture Bond Trustee during such 60-day period by the Holders of a majority of the Outstanding Amount of the Environmental Control Transition Bonds of all Series; it being understood and intended that no one or more Holders of Environmental Control Transition Bonds shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Environmental Control Transition Bonds or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided. In the event the Indenture Bond Trustee shall receive conflicting or inconsistent requests and indemnity from two or more groups of Holders of Environmental Control Transition Bonds, each representing less than a majority of the Outstanding Amount of the Environmental Control Transition Bonds of all Series, the Indenture Bond Trustee in its sole discretion may determine what action, if any, shall be taken, notwithstanding any other provisions of this Indenture.