Limited Liability and Bankruptcy Remoteness. Without limiting the generality of Section 2.8, the Company will be operated in such a manner as the Administrator and the officers of the Company deem reasonable and necessary or appropriate to preserve (a) the limited liability of the Holders and the Member and their respective Affiliates, (b) the separateness of the Company from the respective businesses of the Holders and the Member and their respective Affiliates and (c) until the expiration of the period of one year and one day after the payment in full of all Securities, the bankruptcy-remote status of the Company.
Limited Liability and Bankruptcy Remoteness. Until the expiration of the period of one year and one day after the payment in full of all debt of the Company and all debt issued through Subsidiaries, the activities and affairs of the Company will be operated in such a manner as the Board and the Authorized Officers deem reasonable and necessary or appropriate to preserve (a) the limited liability of the Member and its Affiliates, (b) the bankruptcy-remote status of the Company and (c) the separateness of the Company from the business of the Member and its Affiliates. RLF1 28406131v.1
Limited Liability and Bankruptcy Remoteness. 12 ARTICLE III Management...................................................12
Limited Liability and Bankruptcy Remoteness. Without limiting the generality of Section 2.09, the Company shall be operated in such a manner as the Managers deem reasonable and necessary or appropriate to preserve (a) the limited liability of CenterPoint Houston (or its successor) as the Member and the limited liability of the Special Members, (b) the separateness of the Company from the business of CenterPoint Houston (or its successor), as the Member, or any other Affiliate thereof and (c) until the expiration of the period of one year and one day specified in Section 10.06, the special purpose, bankruptcy-remote status of the Company.
Limited Liability and Bankruptcy Remoteness. Without limiting the generality of Section 2.11, the Titling Trust will be operated in such a manner as the Titling Trustee may deem to be reasonable and necessary or appropriate to preserve (a) the limited liability of the Holders and the Initial Beneficiary and their respective Affiliates, (b) the separateness of the Titling Trust from the respective businesses of the Holders and the Initial Beneficiary and their respective Affiliates and (c) until the expiration of the period of one year and one day (or, if longer, any applicable preference period) after the payment in full of all Trust-Related Obligations (including all Secured Titling Trust Debt and other Titling Trust Debt), the bankruptcy-remote status of the Titling Trust.
Limited Liability and Bankruptcy Remoteness. Without limiting the generality of Section 2.09, the Company shall be operated in such a manner as the Managers deem reasonable and necessary or appropriate to preserve:
(a) the limited liability of PE Funding (or its successor) as the Member in the Company and the limited liability of the Special Members,
(b) the separateness of the Company from the business of PE Funding (or its successor), as the Member of the Company, or any other Affiliate thereof, and
(c) until the expiration of the one year and one day period of time as specified in Section 9.05(a), the bankruptcy-remote status of the Company.
Limited Liability and Bankruptcy Remoteness. Without limiting the generality of Section 2.09, the Company shall be operated in such a manner as the Managers deem reasonable and necessary or appropriate to preserve (a) the limited liability of PSE&G (or its successor) as the Member in the Company and the limited liability of the Special Members, (b) the separateness of the Company from the business of PSE&G (or its successor), as the Member of the Company, or any other Affiliate thereof and (c) until the expiration of the period of one year and one day specified in Section 9.05, the bankruptcy-remote status of the Company.
Limited Liability and Bankruptcy Remoteness. Without limiting the generality of Section 2.09, the Company shall be operated in such a manner as the Managers deem reasonable and necessary or appropriate to preserve
(a) the limited liability of JCP&L (or its successor) as the Member in the Company and the limited liability of the Special Members,
(b) the separateness of the Company from the business of JCP&L (or its successor), as the Member of the Company, or any other Affiliate thereof and
(c) until the expiration of the period of one year and one day specified in Section 9.05, the bankruptcy-remote status of the Company.
Limited Liability and Bankruptcy Remoteness. The activities and affairs of the Company will be operated in such a manner as the Board and the Authorized Officers deem reasonable and necessary or appropriate to preserve (a) the limited liability of the Member and its Affiliates, (b) the separateness of the Company from the business of the Member and its Affiliates and (c) until the expiration of the period of one year and one day after the payment in full of all distributions to all Holders, Registered Pledgees and Titling Company Noteholders, the bankruptcy-remote status of the Company.
Limited Liability and Bankruptcy Remoteness. Without limiting the generality of Section 2.9, the Company will be operated in such a manner as the Board and the officers of the Company, as applicable, deem reasonable and necessary or appropriate to preserve (a) the limited liability of the Holders and the Member and their respective Affiliates, (b) the separateness of the Company from the respective businesses of the Holders and the Member and their respective Affiliates and (c) until the expiration of the period of one year and one day after the payment in full of all distributions to all Holders, Registered Pledgees and Titling Company Noteholders, the bankruptcy-remote status of the Company.
