Common use of Predecessor Storm-Recovery Bonds Clause in Contracts

Predecessor Storm-Recovery Bonds. provided that in determining whether the Holders of the requisite Outstanding Amount of the Storm-Recovery Bonds or any Tranche or Series thereof have given any request, demand, authorization, direction, notice, consent or waiver under any Basic Document, Additional Indenture or Subsequent Sale Agreement, Storm-Recovery Bonds owned by any Interested Party shall be disregarded and deemed not to be Outstanding, except that, in determining whether the applicable Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Storm-Recovery Bonds that the applicable Trustee knows to be so owned shall be so disregarded. Storm-Recovery Bonds so owned that have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the applicable Trustee the pledgee's right so to act with respect to such Storm-Recovery Bonds and that the pledgee is not an Interested Party.