Common use of RECITALS OF THE ISSUER Clause in Contracts

RECITALS OF THE ISSUER. The Issuer has duly authorized the execution and delivery of this Indenture and the creation and issuance of the Transition Bonds issuable hereunder, which will be of substantially the tenor set forth herein and in the Series Supplement. The Transition Bonds shall be non-recourse obligations and shall be secured by and payable solely out of the proceeds of the Transition Property and the other Transition Bond Collateral. If and to the extent that such proceeds of Transition Property and the other Transition Bond Collateral are insufficient to pay all amounts owing with respect to the Transition Bonds, then, except as otherwise expressly provided hereunder, the Holders shall have no Claim in respect of such insufficiency against the Issuer or the Indenture Trustee, and the Holders, by their acceptance of the Transition Bonds, waive any such Claim. All things necessary to (a) make the Transition Bonds, when executed by the Issuer and authenticated and delivered by the Indenture Trustee hereunder and duly issued by the Issuer, valid obligations, and (b) make this Indenture a valid agreement of the Issuer, in each case, in accordance with their respective terms, have been done.

RECITALS OF THE ISSUER. The Issuer has duly authorized the execution and delivery of this Indenture and the creation and issuance of the Energy Transition Bonds issuable hereunder, which will be of substantially the tenor set forth herein and in the Series SupplementSupplement to this Indenture duly executed and delivered by the Issuer and the Indenture Trustee. The Energy Transition Bonds shall be non-recourse obligations and shall be secured by and payable solely out of the proceeds of the Transition Property and the other Transition Bond CollateralCollateral as provided herein. If and to the extent that such proceeds of Transition the Property and the other Transition Bond Collateral are insufficient to pay all amounts owing with respect to the Energy Transition Bonds, then, except as otherwise expressly provided hereunder, the Holders shall have no Claim in respect of such insufficiency against the Issuer or the Indenture Trustee, and the Holders, by their acceptance of the Energy Transition Bonds, waive any such Claim. All things necessary to (a) make the Energy Transition Bonds, when executed by the Issuer and authenticated and delivered by the Indenture Trustee hereunder and duly issued by the Issuer, valid obligations, and (b) make this Indenture a valid agreement of the Issuer, in each case, in accordance with their respective terms, have been done.

RECITALS OF THE ISSUER. The Issuer has duly authorized the execution and delivery of this Indenture and the creation and issuance of the Transition Bonds issuable in Series hereunder, which will each Series to be of substantially the tenor set forth herein and in the respective Series SupplementSupplement relating to each such Series of Bonds. The Transition Bonds of each Series shall be non-recourse obligations and shall be secured by and payable solely out of the proceeds of the Transition Property and the other Transition Bond CollateralCollateral securing such Series of Bonds. If and to the extent that such proceeds of Transition Property and the other Transition Bond Collateral are insufficient to pay all amounts owing with respect to the Transition BondsBonds secured thereby, then, except as otherwise expressly provided hereunder, the Holders shall have no Claim in respect of such insufficiency against the Issuer or the Indenture TrusteeIssuer, and the Holders, by their acceptance of the Transition such Bonds, waive any such Claim. All things necessary to (a) make the Transition Bonds, when executed by the Issuer and authenticated and delivered by the Indenture Trustee hereunder and duly issued by the Issuer, valid obligations, and (b) make this Indenture a valid agreement of the Issuer, in each case, in accordance with their respective terms, have been done.

RECITALS OF THE ISSUER. The Issuer has duly authorized the execution and delivery of this Indenture and the creation and issuance of the Transition Bonds issuable in Series hereunder, which will each Series to be of substantially the tenor set forth herein and in the respective Series SupplementSupplement relating to each such Series of Transition Bonds. The Transition Bonds shall be non-recourse obligations and shall be secured by and payable solely out of the proceeds of the Transition Property and the other Transition Bond Collateral. If and to the extent that such proceeds of Transition Property and the other Transition Bond Collateral are insufficient to pay all amounts owing with respect to the Transition Bonds, then, except as otherwise expressly provided hereunder, the Holders shall have no Claim in respect of such insufficiency against the Issuer or the Indenture TrusteeIssuer, and the Holders, by their acceptance of the Transition Bonds, waive any such Claim. All things necessary to (a) make the Transition Bonds, when executed by the Issuer and authenticated and delivered by the Indenture Trustee hereunder and duly issued by the Issuer, valid obligations, and (b) make this Indenture a valid agreement of the Issuer, in each case, in accordance with their respective terms, have been done.

RECITALS OF THE ISSUER. The Issuer has duly authorized the execution and delivery of this Indenture and the creation and issuance of the Transition Bonds issuable in Series hereunder, which will each Series to be of substantially the tenor set forth herein and in the respective Series SupplementSupplement relating to each such Series of Transition Bonds. The Transition Bonds shall be non-recourse obligations and shall be secured by and payable solely out of the proceeds of the Transition Property and the other Transition Bond Collateral. If and to the extent that such proceeds of Transition Property and the other Transition Bond Collateral are insufficient to pay all amounts owing with respect to the Transition Bonds, then, except as otherwise expressly provided hereunder, the Holders shall have no Claim in respect of such insufficiency against the Issuer or the Indenture Trustee, and the Holders, by their acceptance of the Transition Bonds, waive any such Claim. All things necessary to (a) make the Transition Bonds, when executed by the Issuer and authenticated and delivered by the Indenture Trustee hereunder and duly issued by the Issuer, valid obligations, and (b) make this Indenture a valid agreement of the Issuer, in each case, in accordance with their respective terms, have been done.