Common use of Method of Adjustment and Allocation Clause in Contracts

Method of Adjustment and Allocation. Each of the parties hereto acknowledges that (i) the Initial Property Servicer will adjust, calculate and allocate payments of Initial Customer Charges in accordance with Section 4.01 of the Initial Servicing Agreement and Section 6 of Annex 1 of the Initial Servicing Agreement in the form attached thereto, and (ii) the Additional Property Servicer will adjust, calculate and allocate payments of Additional Customer Charges in accordance with Section [__] of the Additional Servicing Agreement and [Section [__] of Annex [__]] of the Additional Servicing Agreement in the form attached thereto. Each of the parties hereto hereby acknowledges that (a) none of the Administrative Agent, the Receivables Purchasers, the Additional Bond Issuer or the Additional Bond Trustee shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms of the Initial Servicing Agreement and Annex 1 thereto, or any adjustment, calculation and allocation thereunder, and (b) none of the Administrative Agent, the Receivables Purchasers, the Initial Bond Issuer or the Initial Bond Trustee shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms of the Additional Servicing Agreement and [Annex [__] thereto], or any adjustment, calculation and allocation thereunder. Accordingly, (A) each of the Administrative Agent, the Receivables Purchasers, the Additional Bond Issuer and the Additional Bond Trustee may, solely for the purposes of this Agreement, conclusively rely on the accuracy of the calculations of the Initial Property Servicer in making adjustments, calculations and allocations under the Initial Servicing Agreement and Annex 1 thereto, and (B) each of the Administrative Agent, the Receivables Purchasers, the Initial Bond Issuer and the Initial Bond Trustee may, solely for the purposes of this Agreement, conclusively rely on the accuracy of the calculations of the Additional Property Servicer in making adjustments, calculations and allocations under the Additional Servicing Agreement and [Annex [__] thereto]. Such acknowledgement shall not relieve the Receivables Servicer of any of its obligations to make payments in accordance with the terms of the Receivables Agreements, nor shall it relieve the Initial Property Servicer of its obligations under the Initial Servicing Agreement or the Additional Property Servicer of its obligations under the Additional Servicing Agreement.

Appears in 11 contracts

Samples: Intercreditor Agreement (PNM Energy Transition Bond Co I, LLC), Intercreditor Agreement (PNM Energy Transition Bond Co I, LLC), Intercreditor Agreement (PNM Energy Transition Bond Co I, LLC)

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Method of Adjustment and Allocation. Each of the parties hereto acknowledges that (i) the Initial Property TC Servicer will adjust, calculate and allocate payments of Initial Customer Transition Charges in accordance with Section 4.01 of the Initial Servicing Agreement and Section 6 of Annex 1 of the Initial Servicing Agreement in the form attached thereto, and (ii) the Additional Property Servicer will adjust, calculate and allocate payments of Additional Customer Charges in accordance with Section [__] of the Additional Servicing Agreement and [Section [__] of Annex [__]] of the Additional Servicing Agreement in the form attached thereto. Each each of the parties hereto hereby acknowledges that (a) none of the Administrative Agent, the Receivables Purchasers, neither the Additional Transition Bond Issuer or nor the Additional Transition Bond Trustee shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms of the Initial Servicing Agreement and Annex 1 thereto, such documents or any such adjustment, calculation and allocation thereunderallocation. Accordingly, and (b) none of the Administrative Agent, the Receivables Purchasers, the Initial Bond Issuer or the Initial Bond Trustee shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms each of the Additional Servicing Agreement and [Annex [__] thereto], or any adjustment, calculation and allocation thereunder. Accordingly, (A) each of the Administrative Agent, the Receivables Purchasers, the Additional Transition Bond Issuer and the Additional Transition Bond Trustee (i) may, solely for the purposes of this Agreement, conclusively rely on the accuracy of the calculations of the Initial Property TC Servicer in making such adjustments, calculations and allocations under allocations. Each of the Initial parties hereto hereby acknowledges that the Additional TC Servicer will adjust, calculate and allocate payments of Additional Transition Charges in accordance with Section 4.01 of the Additional Servicing Agreement and Section 6 of Annex 1 of the Additional Servicing Agreement in the form attached thereto, and (B) each of the Administrative Agent, the Receivables Purchasers, parties hereto hereby acknowledges that neither the Initial Transition Bond Trustee nor the Initial Transition Bond Issuer shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms of such documents or any such adjustment, calculation and allocation. Accordingly, each of the Initial Transition Bond Issuer and the Initial Transition Bond Trustee may, solely for the purposes of this Agreement, conclusively rely on the accuracy of the calculations of the Additional Property TC Servicer in making such adjustments, calculations and allocations under the Additional Servicing Agreement and [Annex [__] thereto]allocations. Such acknowledgement shall not relieve the Receivables Servicer Company of any of its obligations to make payments in accordance with the terms of the Receivables AgreementsInitial Sale Agreement and the Additional Sale Agreement, nor shall it relieve the Initial Property TC Servicer or the Additional TC Servicer of its their obligations under the Initial Servicing Agreement or the Additional Property Servicer of its obligations under and the Additional Servicing Agreement, respectively.

Appears in 3 contracts

Samples: Intercreditor Agreement, Intercreditor Agreement (Aep Texas Central Co), Intercreditor Agreement (Aep Texas Central Co)

Method of Adjustment and Allocation. Each of the parties Parties hereto acknowledges that acknowledge that: (i) the Initial Property Servicer will adjust, calculate and allocate payments of Initial Customer Recovery Charges in accordance with Section 4.01 of the Initial Servicing Agreement and Section 6 of Annex 1 of the Initial Servicing Agreement in the form attached thereto, and (ii) the Additional Property Second Servicer will adjust, calculate and allocate payments of Additional Customer Second Recovery Charges in accordance with Section [__] 4.01 of the Additional Second Servicing Agreement and [Section [__] 6 of Annex [__]] 1 of the Additional Initial Servicing Agreement in the form attached thereto, and (iii) the Servicer will adjust, calculate and allocate payments of Recovery Charges in accordance with Section 4.01 of the Servicing Agreement and Section 6 of Annex 1 of the Servicing Agreement in the form attached thereto. Each of the parties hereto hereby acknowledges that (a) none of the Administrative AgentInitial Secured Parties shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms of the Servicing Agreement and Annex 1 thereto, the Receivables Purchasersor any adjustment, the Additional Bond Issuer calculation and allocation thereunder or the Additional Bond Trustee Second Servicing Agreement and Annex 1 thereto, or any adjustment, calculation and allocation thereunder, (b) none of the Second Secured Parties shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms of the Servicing Agreement and Annex 1 thereto, or any adjustment, calculation and allocation thereunder, or the Initial Servicing Agreement and Annex 1 thereto, or any adjustment, calculation and allocation thereunder and (c) none of the Secured Parties shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms of the Initial Servicing Agreement and Annex 1 thereto, or any adjustment, calculation and allocation thereunder, and (b) none of the Administrative Agent, the Receivables Purchasers, the Initial Bond Issuer thereunder or the Initial Bond Trustee shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms of the Additional Second Servicing Agreement and [Annex [__] 1 thereto], or any adjustment, calculation and allocation thereunder. Accordingly, (A) each of the Administrative Agent, the Receivables Purchasers, the Additional Bond Issuer and the Additional Bond Trustee Initial Secured Parties may, solely for the purposes purpose of this Agreement, conclusively rely on the accuracy of the calculations of the Servicer in making adjustments, calculations and allocations under the Servicing Agreement and Annex I thereto and on the accuracy of the calculations of the Second Servicer in making adjustments, calculations and allocations under the Second Servicing Agreement and Annex I thereto, (B) each of the Second Secured Parties may, solely for the purpose of this Agreement, conclusively rely on the accuracy of the calculations of the Servicer in making adjustments, calculations and allocations under the Servicing Agreement and Annex I thereto and on the accuracy of the calculations of the Initial Servicer in making adjustments, calculations and allocations under the Initial Servicing Agreement and Annex I thereto, and (C) each of the Secured Parties may, solely for the purpose of this Agreement, conclusively rely on the accuracy of the calculations of the Initial Property Servicer in making adjustments, calculations and allocations under the Initial Servicing Agreement and Annex 1 thereto, I thereto and (B) each of the Administrative Agent, the Receivables Purchasers, the Initial Bond Issuer and the Initial Bond Trustee may, solely for the purposes of this Agreement, conclusively rely on the accuracy of the calculations of the Additional Property Second Servicer in making adjustments, calculations and allocations under the Additional Second Servicing Agreement and [Annex [__] I thereto]. Such acknowledgement shall not relieve the Receivables Servicer Southern California Edison Company of any of its obligations to make payments in accordance with the terms of the Receivables AgreementsInitial Sale Agreement, the Second Sale Agreement and the Sale Agreement, nor shall it relieve the Initial Property Servicer, the Second Servicer or the Servicer of its their obligations under the Initial Servicing Agreement or Agreement, the Additional Property Second Servicer of its obligations under and the Additional Servicing Agreement, respectively.

Appears in 3 contracts

Samples: Intercreditor Agreement (SCE Recovery Funding LLC), Intercreditor Agreement (SCE Recovery Funding LLC), Agreement (SCE Recovery Funding LLC)

Method of Adjustment and Allocation. Each of the parties hereto acknowledges that that: (i) the Initial Property First Additional TC Servicer will adjust, calculate and allocate payments of Initial Customer First Additional Transition Charges in accordance with Section 4.01 of the Initial First Additional Servicing Agreement and Section 6 of Annex 1 of the Initial First Additional Servicing Agreement in the form attached thereto, (ii) the Second Additional TC Servicer will adjust, calculate and allocate payments of Second Additional Transition Charges in accordance with Section 4.01 of the Second Additional Servicing Agreement and Section 6 of Annex 1 of the Second Additional Servicing Agreement in the form attached thereto, and (iiiii) the Additional Property System Restoration Servicer will adjust, calculate and allocate payments of Additional Customer System Restoration Charges in accordance with Section [__] 4.01 of the Additional System Restoration Servicing Agreement and [Section [__] 6 of Annex [__]] 1 of the Additional System Restoration Servicing Agreement in the form attached thereto. Each of the parties hereto hereby acknowledges that (a) none of the Administrative Agent, the Receivables Purchasers, the First Additional Bond Issuer or the Additional Bond Trustee Secured Parties shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms of the Initial Second Additional Servicing Agreement and Annex 1 thereto, or the System Restoration Servicing Agreement and Annex 1 thereto, or any adjustment, calculation and allocation thereunder, and (b) none of the Administrative Agent, the Receivables Purchasers, the Initial Bond Issuer or the Initial Bond Trustee Second Additional Secured Parties shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms of the First Additional Servicing Agreement and [Annex [__] 1 thereto], or the System Restoration Servicing Agreement and Annex 1 thereto, or any adjustment, calculation and allocation thereunder, and (c) none of the System Restoration Secured Parties shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms of the First Additional Servicing Agreement and Annex 1 thereto, or the Second Additional Servicing Agreement and Annex 1 thereto, or any adjustment, calculation and allocation thereunder. Accordingly, (A) each of the Administrative Agent, the Receivables Purchasers, the First Additional Bond Issuer and the Additional Bond Trustee Secured Parties may, solely for the purposes purpose of this Agreement, conclusively rely on the accuracy of the calculations of the Initial Property Second Additional TC Servicer in making adjustments, calculations and allocations under the Initial Second Additional Servicing Agreement and Annex 1 I thereto and of the System Restoration Servicer in making adjustments, calculations and allocations under the System Restoration Servicing Agreement and Annex I thereto, and (B) each of the Administrative Agent, the Receivables Purchasers, the Initial Bond Issuer and the Initial Bond Trustee Second Additional Secured Parties may, solely for the purposes purpose of this Agreement, conclusively rely on the accuracy of the calculations of the First Additional Property TC Servicer in making adjustments, calculations and allocations under the First Additional Servicing Agreement and [Annex [__] I thereto and of the System Restoration Servicer in making adjustments, calculations and allocations under the System Restoration Servicing Agreement and Annex I thereto], and (C) each of the System Restoration Secured Parties may, solely for the purpose of this Agreement, conclusively rely on the accuracy of the calculations of the First Additional TC Servicer in making adjustments, calculations and allocations under the First Additional Servicing Agreement and Annex I thereto and of the Second Additional TC Servicer in making adjustments, calculations and allocations under the Second Additional Servicing Agreement and Annex I thereto. Such acknowledgement shall not relieve the Receivables Servicer Company of any of its obligations to make payments in accordance with the terms of the Receivables AgreementsFirst Additional Sale Agreement, the Second Additional Sale Agreement and the System Restoration Sale Agreement, nor shall it relieve the Initial Property First Additional TC Servicer, the Second Additional TC Servicer or the System Restoration Servicer of its their obligations under the Initial Servicing Agreement or the Additional Property Servicer of its obligations under the First Additional Servicing Agreement, the Second Additional Servicing Agreement and the System Restoration Servicing Agreement, respectively.

Appears in 3 contracts

Samples: Intercreditor Agreement (AEP Texas Restoration Funding LLC), Intercreditor Agreement (AEP Texas Restoration Funding LLC), Intercreditor Agreement (AEP Texas Restoration Funding LLC)

Method of Adjustment and Allocation. Each of the parties hereto acknowledges that that: (i) the Initial Property TC Servicer will adjust, calculate and allocate payments of Initial Customer Transition Charges in accordance with Section 4.01 of the Initial Servicing Agreement and Section 6 of Annex 1 of the Initial Servicing Agreement in the form attached thereto, and (ii) the First Additional Property TC Servicer will adjust, calculate and allocate payments of First Additional Customer Transition Charges in accordance with Section [__] 4.01 of the First Additional Servicing Agreement and [Section [__] 6 of Annex [__]] 1 of the First Additional Servicing Agreement in the form attached thereto, and (iii) the Second Additional TC Servicer will adjust, calculate and allocate payments of Second Additional Transition Charges in accordance with Section 4.01 of the Second Additional Servicing Agreement and Section 6 of Annex 1 of the Second Additional Servicing Agreement in the form attached thereto. Each of the parties hereto hereby acknowledges that (a) none of the Administrative AgentInitial Secured Parties shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms of the First Additional Servicing Agreement and Annex 1 thereto, the Receivables Purchasers, the Additional Bond Issuer or the Second Additional Bond Trustee Servicing Agreement and Annex 1 thereto, or any adjustment, calculation and allocation thereunder, (b) none of the First Additional Secured Parties shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms of the Initial Servicing Agreement and Annex 1 thereto, or the Second Additional Servicing Agreement and Annex 1 thereto, or any adjustment, calculation and allocation thereunder, and (bc) none of the Administrative Agent, the Receivables Purchasers, the Initial Bond Issuer or the Initial Bond Trustee Second Additional Secured Parties shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms of the Initial Servicing Agreement and Annex 1 thereto, or the First Additional Servicing Agreement and [Annex [__] 1 thereto], or any adjustment, calculation and allocation thereunder. Accordingly, (A) each of the Administrative Agent, the Receivables Purchasers, the Additional Bond Issuer and the Additional Bond Trustee Initial Secured Parties may, solely for the purposes purpose of this Agreement, conclusively rely on the accuracy of the calculations of the First Additional TC Servicer in making adjustments, calculations and allocations under the First Additional Servicing Agreement and Annex I thereto and of the Second Additional TC Servicer in making adjustments, calculations and allocations under the Second Additional Servicing Agreement and Annex I thereto, (B) each of the First Additional Secured Parties may, solely for the purpose of this Agreement, conclusively rely on the accuracy of the calculations of the Initial Property TC Servicer in making adjustments, calculations and allocations under the Initial Servicing Agreement and Annex 1 I thereto and of the Second Additional TC Servicer in making adjustments, calculations and allocations under the Second Additional Servicing Agreement and Annex I thereto, and (BC) each of the Administrative Agent, the Receivables Purchasers, the Initial Bond Issuer and the Initial Bond Trustee Second Additional Secured Parties may, solely for the purposes purpose of this Agreement, conclusively rely on the accuracy of the calculations of the Additional Property Initial TC Servicer in making adjustments, calculations and allocations under the Initial Servicing Agreement and Annex I thereto and of the First Additional TC Servicer in making adjustments, calculations and allocations under the First Additional Servicing Agreement and [Annex [__] I thereto]. Such acknowledgement shall not relieve the Receivables Servicer Company of any of its obligations to make payments in accordance with the terms of the Receivables AgreementsInitial Sale Agreement, the First Additional Sale Agreement and the Second Additional Sale Agreement, nor shall it relieve the Initial Property TC Servicer, the First Additional TC Servicer or the Second Additional TC Servicer of its their obligations under the Initial Servicing Agreement, the First Additional TC Servicing Agreement or and the Additional Property Servicer of its obligations under the Second Additional Servicing Agreement, respectively.

Appears in 2 contracts

Samples: Amended and Restated Intercreditor Agreement (AEP Transition Funding III LLC), Intercreditor Agreement (AEP Transition Funding III LLC)

Method of Adjustment and Allocation. Each Notwithstanding any provision herein to the contrary, for the purpose of this Agreement only, the Additional Transition Bond Issuer, the Additional Transition Bond Trustee, the Third Transition Bond Issuer and the Third Transition Bond Trustee hereby consent and agree to (a) the method of adjustment of the parties hereto acknowledges that (i) the Initial Property Servicer will adjust, calculate and allocate payments of Initial Customer Charges Transition Charge in accordance with Section 4.01 of the Initial Servicing Agreement and Section 6 7 of Annex 1 of I to the Initial Servicing Agreement in the form attached thereto, and (iib) the method of calculation and allocation of payments in accordance with Sections 3.02 and 3.03 of the Initial Servicing Agreement in the form attached thereto. Notwithstanding any provision herein to the contrary, for the purpose of this Agreement only, the Initial Transition Bond Issuer, the Initial Transition Bond Trustee, the Third Transition Bond Issuer and the Third Transition Bond Trustee hereby consent and agree to (a) the method of adjustment of the Additional Property Servicer will adjust, calculate and allocate payments of Additional Customer Charges Transition Charge in accordance with Section [__] 7 of Annex I to the Additional Servicing Agreement in the form attached thereto, and [Section [__] (b) the method of Annex [__]] calculation and allocation of payments in accordance with Sections 3.02 and 3.03 of the Additional Servicing Agreement in the form attached theretothereto and irrevocably waive any right to object to or enjoin such adjustment, calculation, payment or allocation. Each Notwithstanding any provision herein to the contrary, for the purpose of this Agreement only, the parties hereto Initial Transition Bond Issuer, the Initial Transition Bond Trustee, the Additional Transition Bond Issuer and the Additional Transition Bond Trustee hereby acknowledges that consent and agree to (a) none the method of adjustment of the Administrative Agent, the Receivables Purchasers, the Additional Bond Issuer or the Additional Bond Trustee shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms Transition (III) Charge in accordance with Section 4.01 of the Initial Third Servicing Agreement and Annex 1 in the form attached thereto, or any adjustment, calculation and allocation thereunder, and (b) none the method of the Administrative Agent, the Receivables Purchasers, the Initial Bond Issuer or the Initial Bond Trustee shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms of the Additional Servicing Agreement and [Annex [__] thereto], or any adjustment, calculation and allocation thereunder. Accordingly, (A) each of payments in accordance with Section 6 of Annex I to the Administrative Agent, the Receivables Purchasers, the Additional Bond Issuer and the Additional Bond Trustee may, solely for the purposes of this Agreement, conclusively rely on the accuracy of the calculations of the Initial Property Servicer in making adjustments, calculations and allocations under the Initial Third Servicing Agreement in the form attached thereto and Annex 1 theretoirrevocably waive any right to object to or enjoin such adjustment, and (B) each of the Administrative Agentcalculation, the Receivables Purchasers, the Initial Bond Issuer and the Initial Bond Trustee may, solely for the purposes of this Agreement, conclusively rely on the accuracy of the calculations of the Additional Property Servicer in making adjustments, calculations and allocations under the Additional Servicing Agreement and [Annex [__] thereto]payment or allocation. Such acknowledgement consent and agreement shall not relieve the Receivables Servicer Company of any of its obligations to make payments in accordance with the terms of the Receivables AgreementsInitial Sale Agreement, nor shall it relieve the Initial Property Servicer of its obligations under the Initial Servicing Agreement or the Additional Property Servicer of its obligations under Sale Agreement and the Additional Servicing Third Sale Agreement.

Appears in 2 contracts

Samples: Intercreditor Agreement (Centerpoint Energy Houston Electric LLC), Intercreditor Agreement (CenterPoint Energy Transition Bond CO III, LLC)

Method of Adjustment and Allocation. Each Notwithstanding any provision herein to the contrary, for the purpose of this Agreement only, the Additional Transition Bond Issuer, the Additional Transition Bond Trustee, the Third Transition Bond Issuer, the Third Transition Bond Trustee, the Restoration Bond Issuer and the Restoration Bond Trustee hereby consent and agree to (a) the method of adjustment of the parties hereto acknowledges that (i) the Initial Property Servicer will adjust, calculate and allocate payments of Initial Customer Charges Transition Charge in accordance with Section 4.01 of the Initial Servicing Agreement and Section 6 7 of Annex 1 of I to the Initial Servicing Agreement in the form attached thereto, and (iib) the method of calculation and allocation of payments in accordance with Sections 3.02 and 3.03 of the Initial Servicing Agreement in the form attached thereto. Notwithstanding any provision herein to the contrary, for the purpose of this Agreement only, the Initial Transition Bond Issuer, the Initial Transition Bond Trustee, the Third Transition Bond Issuer, the Third Transition Bond Trustee, the Restoration Bond Issuer and the Restoration Bond Trustee hereby consent and agree to (a) the method of adjustment of the Additional Property Servicer will adjust, calculate and allocate payments of Additional Customer Charges Transition Charge in accordance with Section [__] 7 of Annex I to the Additional Servicing Agreement in the form attached thereto, and [Section [__] (b) the method of Annex [__]] calculation and allocation of payments in accordance with Sections 3.02 and 3.03 of the Additional Servicing Agreement in the form attached theretothereto and irrevocably waive any right to object to or enjoin such adjustment, calculation, payment or allocation. Each Notwithstanding any provision herein to the contrary, for the purpose of this Agreement only, the parties hereto Initial Transition Bond Issuer, the Initial Transition Bond Trustee, the Additional Transition Bond Issuer, the Additional Transition Bond Trustee, the Restoration Bond Issuer and the Restoration Bond Trustee hereby acknowledges that consent and agree to (a) none the method of adjustment of the Administrative Agent, the Receivables Purchasers, the Additional Bond Issuer or the Additional Bond Trustee shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms Transition (III) Charge in accordance with Section 4.01 of the Initial Third Servicing Agreement and Annex 1 in the form attached thereto, or any adjustment, calculation and allocation thereunder, and (b) none the method of calculation and allocation of payments in accordance with Section 6 of Annex I to the Administrative AgentThird Servicing Agreement in the form attached thereto and irrevocably waive any right to object to or enjoin such adjustment, calculation, payment or allocation. Notwithstanding any provision herein to the Receivables Purchaserscontrary, for the purpose of this Agreement only, the Initial Transition Bond Issuer or Issuer, the Initial Transition Bond Trustee shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms of the Additional Servicing Agreement and [Annex [__] thereto], or any adjustment, calculation and allocation thereunder. Accordingly, (A) each of the Administrative Agent, the Receivables PurchasersTrustee, the Additional Transition Bond Issuer, the Additional Transition Bond Trustee, the Third Transition Bond Issuer and the Additional Third Transition Bond Trustee may, solely for hereby consent and agree to (a) the purposes method of this Agreement, conclusively rely on the accuracy adjustment of the calculations Restoration Charge in accordance with Section 4.01 of the Initial Property Servicer in making adjustments, calculations and allocations under the Initial Restoration Servicing Agreement and Annex 1 in the form attached thereto, and (Bb) each the method of calculation and allocation of payments in accordance with Section 6 of Annex I to the Administrative Agent, the Receivables Purchasers, the Initial Bond Issuer and the Initial Bond Trustee may, solely for the purposes of this Agreement, conclusively rely on the accuracy of the calculations of the Additional Property Servicer in making adjustments, calculations and allocations under the Additional Restoration Servicing Agreement in the form attached thereto and [Annex [__] thereto]irrevocably waive any right to object to or enjoin such adjustment, calculation, payment or allocation. Such acknowledgement consent and agreement shall not relieve the Receivables Servicer Company of any of its obligations to make payments in accordance with the terms of the Receivables AgreementsInitial Sale Agreement, nor shall it relieve the Initial Property Servicer of its obligations under the Initial Servicing Agreement or the Additional Property Servicer of its obligations under Sale Agreement and the Additional Servicing Third Sale Agreement.

Appears in 2 contracts

Samples: Intercreditor Agreement (CenterPoint Energy Restoration Bond Company, LLC), Intercreditor Agreement (CenterPoint Energy Restoration Bond Company, LLC)

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Method of Adjustment and Allocation. Each of the parties hereto acknowledges that (i) the Initial Property Servicer will adjust, calculate and allocate payments of Initial Customer Charges in accordance with Section 4.01 of the Initial Servicing Agreement and Section 6 of Annex 1 I of the Initial Servicing Agreement in the form attached thereto, and (ii) the Additional Property Servicer will adjust, calculate and allocate payments of Additional Customer Charges in accordance with Section [__] 4.01 of the Additional Servicing Agreement and [Section [__] 6 of Annex [__]] I of the Additional Servicing Agreement in the form attached thereto. Each of the parties hereto hereby acknowledges that (a) none of the Administrative Agent, the Receivables Purchasers, the Additional Bond Issuer or the Additional Bond Trustee shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms of the Initial Servicing Agreement and Annex 1 I thereto, or any adjustment, calculation and allocation thereunder, and (b) none of the Administrative Agent, the Receivables Purchasers, the Initial Bond Issuer or the Initial Bond Trustee shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms of the Additional Servicing Agreement and [Annex [__] I thereto], or any adjustment, calculation and allocation thereunder. Accordingly, (A) each of the Administrative Agent, the Receivables Purchasers, the Additional Bond Issuer and the Additional Bond Trustee may, solely for the purposes of this Agreement, conclusively rely on the accuracy of the calculations of the Initial Property Servicer in making adjustments, calculations and allocations under the Initial Servicing Agreement and Annex 1 I thereto, and (B) each of the Administrative Agent, the Receivables Purchasers, the Initial Bond Issuer and the Initial Bond Trustee may, solely for the purposes of this Agreement, conclusively rely on the accuracy of the calculations of the Additional Property Servicer in making adjustments, calculations and allocations under the Additional Servicing Agreement and [Annex [__] I thereto]. Such acknowledgement shall not relieve the Receivables Servicer of any of its obligations to make payments in accordance with the terms of the Receivables Agreements, nor shall it relieve the Initial Property Servicer of its obligations under the Initial Servicing Agreement or the Additional Property Servicer of its obligations under the Additional Servicing Agreement.

Appears in 2 contracts

Samples: Intercreditor Agreement (DTE Electric Securitization Funding II LLC), Intercreditor Agreement (DTE Electric Securitization Funding II LLC)

Method of Adjustment and Allocation. Each Notwithstanding any provision herein to the contrary, for the purpose of this Agreement only, the Additional Transition Bond Issuer, the Additional Transition Bond Trustee, the Third Transition Bond Issuer, the Third Transition Bond Trustee, the Restoration Bond Issuer, the Restoration Bond Trustee, the Fourth Transition Bond Issuer and the Fourth Transition Bond Trustee hereby consent and agree to (a) the method of adjustment of the parties hereto acknowledges that (i) the Initial Property Servicer will adjust, calculate and allocate payments of Initial Customer Charges Transition Charge in accordance with Section 4.01 of the Initial Servicing Agreement and Section 6 7 of Annex 1 of I to the Initial Servicing Agreement in the form attached thereto, and (iib) the method of calculation and allocation of payments in accordance with Sections 3.02 and 3.03 of the Initial Servicing Agreement in the form attached thereto. Notwithstanding any provision herein to the contrary, for the purpose of this Agreement only, the Initial Transition Bond Issuer, the Initial Transition Bond Trustee, the Third Transition Bond Issuer, the Third Transition Bond Trustee, the Restoration Bond Issuer, the Restoration Bond Trustee, the Fourth Transition Bond Issuer and the Fourth Transition Bond Trustee hereby consent and agree to (a) the method of adjustment of the Additional Property Servicer will adjust, calculate and allocate payments of Additional Customer Charges Transition Charge in accordance with Section [__] 7 of Annex I to the Additional Servicing Agreement in the form attached thereto, and [Section [__] (b) the method of Annex [__]] calculation and allocation of payments in accordance with Sections 3.02 and 3.03 of the Additional Servicing Agreement in the form attached theretothereto and irrevocably waive any right to object to or enjoin such adjustment, calculation, payment or allocation. Each Notwithstanding any provision herein to the contrary, for the purpose of this Agreement only, the parties hereto Initial Transition Bond Issuer, the Initial Transition Bond Trustee, the Additional Transition Bond Issuer, the Additional Transition Bond Trustee, the Restoration Bond Issuer, the Restoration Bond Trustee, the Fourth Transition Bond Issuer and the Fourth Transition Bond Trustee hereby acknowledges that consent and agree to (a) none the method of adjustment of the Administrative Agent, the Receivables Purchasers, the Additional Bond Issuer or the Additional Bond Trustee shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms Transition (III) Charge in accordance with Section 4.01 of the Initial Third Servicing Agreement and Annex 1 in the form attached thereto, or any adjustment, calculation and allocation thereunder, and (b) none the method of calculation and allocation of payments in accordance with Section 6 of Annex I to the Administrative AgentThird Servicing Agreement in the form attached thereto and irrevocably waive any right to object to or enjoin such adjustment, calculation, payment or allocation. Notwithstanding any provision herein to the Receivables Purchaserscontrary, for the purpose of this Agreement only, the Initial Transition Bond Issuer or Issuer, the Initial Transition Bond Trustee shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms of the Additional Servicing Agreement and [Annex [__] thereto], or any adjustment, calculation and allocation thereunder. Accordingly, (A) each of the Administrative Agent, the Receivables PurchasersTrustee, the Additional Transition Bond Issuer, the Additional Transition Bond Trustee, the Third Transition Bond Issuer, the Third Transition Bond Trustee, the Fourth Transition Bond Issuer and the Additional Fourth Transition Bond Trustee may, solely for hereby consent and agree to (a) the purposes method of this Agreement, conclusively rely on the accuracy adjustment of the calculations Restoration Charge in accordance with Section 4.01 of the Initial Property Servicer in making adjustments, calculations and allocations under the Initial Restoration Servicing Agreement and Annex 1 in the form attached thereto, and (Bb) each the method of calculation and allocation of payments in accordance with Section 6 of Annex I to the Administrative AgentRestoration Servicing Agreement in the form attached thereto and irrevocably waive any right to object to or enjoin such adjustment, calculation, payment or allocation. Notwithstanding any provision herein to the Receivables Purchaserscontrary, for the purpose of this Agreement only, the Initial Transition Bond Issuer, the Initial Transition Bond Trustee, the Additional Transition Bond Issuer, the Additional Transition Bond Trustee, the Third Transition Bond Issuer, the Third Transition Bond Trustee, the Restoration Bond Issuer and the Initial Restoration Bond Trustee may, solely for hereby consent and agree to (a) the purposes method of this Agreement, conclusively rely on the accuracy adjustment of the calculations Transition (IV) Charge in accordance with Section 4.01 of the Additional Property Servicer in making adjustments, calculations and allocations under the Additional Fourth Servicing Agreement in the form attached thereto, and [(b) the method of calculation and allocation of payments in accordance with Section 6 of Annex [__] thereto]I to the Fourth Servicing Agreement in the form attached thereto and irrevocably waive any right to object to or enjoin such adjustment, calculation, payment or allocation. Such acknowledgement consent and agreement shall not relieve the Receivables Servicer Company of any of its obligations to make payments in accordance with the terms of the Receivables AgreementsInitial Sale Agreement, nor shall it relieve the Initial Property Servicer of its obligations under the Initial Servicing Agreement or the Additional Property Servicer of its obligations under Sale Agreement and the Additional Servicing Third Sale Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (CenterPoint Energy Transition Bond Co IV, LLC)

Method of Adjustment and Allocation. Each Notwithstanding any provision herein to the contrary, for the purpose of this Agreement only, the Additional Transition Bond Issuer, the Additional Transition Bond Trustee, the Third Transition Bond Issuer, the Third Transition Bond Trustee, the Restoration Bond Issuer, the Restoration Bond Trustee, the Fourth Transition Bond Issuer and the Fourth Transition Bond Trustee hereby consent and agree to (a) the method of adjustment of the parties hereto acknowledges that (i) the Initial Property Servicer will adjust, calculate and allocate payments of Initial Customer Charges Transition Charge in accordance with Section 4.01 of the Initial Servicing Agreement and Section 6 7 of Annex 1 of I to the Initial Servicing Agreement in the form attached thereto, and (iib) the method of calculation and allocation of payments in accordance with Sections 3.02 and 3.03 of the Initial Servicing Agreement in the form attached thereto. Notwithstanding any provision herein to the contrary, for the purpose of this Agreement only, the Initial Transition Bond Issuer, the Initial Transition Bond Trustee, the Third Transition Bond Issuer, the Third Transition Bond Trustee, the Restoration Bond Issuer, the Restoration Bond Trustee, the Fourth Transition Bond Issuer and the Fourth Transition Bond Trustee hereby consent and agree to (a) the method of adjustment of the Additional Property Servicer will adjust, calculate and allocate payments of Additional Customer Charges Transition Charge in accordance with Section [__] 7 of Annex I to the Additional Servicing Agreement in the form attached thereto, and [Section [__] (b) the method of Annex [__]] calculation and allocation of payments in accordance with Sections 3.02 and 3.03 of the Additional Servicing Agreement in the form attached theretothereto and irrevocably waive any right to object to or enjoin such adjustment, calculation, payment or allocation. Each Notwithstanding any provision herein to the contrary, for the purpose of this Agreement only, the parties hereto Initial Transition Bond Issuer, the Initial Transition Bond Trustee, the Additional Transition Bond Issuer, the Additional Transition Bond Trustee, the Restoration Bond Issuer, the Restoration Bond Trustee, the Fourth Transition Bond Issuer and the Fourth Transition Bond Trustee hereby acknowledges that consent and agree to (a) none the method of adjustment of the Administrative Agent, the Receivables Purchasers, the Additional Bond Issuer or the Additional Bond Trustee shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms Transition (III) Charge in accordance with Section 4.01 of the Initial Third Servicing Agreement and Annex 1 in the form attached thereto, or any adjustment, calculation and allocation thereunder, and (b) none the method of calculation and allocation of payments in accordance with Section 6 of Annex I to the Administrative AgentThird Servicing Agreement in the form attached thereto and irrevocably waive any right to object to or enjoin such adjustment, calculation, payment or allocation. Notwithstanding any provision herein to the Receivables Purchaserscontrary, for the purpose of this Agreement only, the Initial Transition Bond Issuer or Issuer, the Initial Transition Bond Trustee shall be deemed or required under this Agreement to have any knowledge of or responsibility for the terms of the Additional Servicing Agreement and [Annex [__] thereto], or any adjustment, calculation and allocation thereunder. Accordingly, (A) each of the Administrative Agent, the Receivables PurchasersTrustee, the Additional Transition Bond Issuer, the Additional Transition Bond Trustee, the Third Transition Bond Issuer, the Third Transition Bond Trustee, the Fourth Transition Bond Issuer and the Additional Fourth Transition Bond Trustee may, solely for hereby consent and agree to (a) the purposes method of this Agreement, conclusively rely on the accuracy adjustment of the calculations Restoration Charge in accordance with Section 4.01 of the Initial Property Servicer in making adjustments, calculations and allocations under the Initial Restoration Servicing Agreement and Annex 1 in the form attached thereto, and (Bb) each the method of calculation and allocation of payments in accordance with Section 6 of Annex I to the Administrative AgentRestoration Servicing Agreement in the form attached thereto and irrevocably waive any right to object to or enjoin such adjustment, calculation, payment or allocation. Notwithstanding any provision herein to the Receivables Purchaserscontrary, for the purpose of this Agreement only, the Initial Transition Bond Issuer, the Initial Transition Bond Trustee, the Additional Transition Bond Issuer, the Additional Transition Bond Trustee, the Third Transition Bond Issuer, the Third Transition Bond Trustee, the Restoration Bond Issuer and the Initial Restoration Bond Trustee may, solely for hereby consent and agree to (a) the purposes method of this Agreement, conclusively rely on the accuracy adjustment of the calculations Transition (IV) Charge in accordance with Section 4.01 of the Additional Property Servicer in making adjustments, calculations and allocations under the Additional Fourth Servicing Agreement in the form attached thereto, and [(b) the method of calculation and allocation of payments in accordance with Section 6 of Annex [__] thereto]I to the Fourth Servicing Agreement in the form attached thereto and irrevocably waive any right to object to or enjoin such adjustment, calculation, payment or allocation. Such acknowledgement consent and agreement shall not relieve the Receivables Servicer Company of any of its obligations to make payments in accordance with the terms of the Receivables AgreementsInitial Sale Agreement, nor shall it relieve the Initial Property Servicer of its obligations under the Initial Servicing Agreement or the Additional Property Servicer of its obligations under Sale Agreement and the Additional Servicing Third Sale Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (CenterPoint Energy Transition Bond Co IV, LLC)

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