Regulatory Statement Clause Samples
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Regulatory Statement. Pursuant to the terms of an order issued by the NMPRC and a stipulation that has been approved by the NMPRC, the Borrower is required to include the following separateness covenants in any debt instrument:
(a) The Borrower and its corporate parent, PNM Resources, Inc. (“Parent”), are being operated as separate corporate and legal entities. In agreeing to make loans to Parent, Parent’s lenders are relying solely on the creditworthiness of Parent based on the assets owned by Parent, and the repayment of any loan to Parent will be made solely from the assets of Parent and not from any assets of the Borrower; and the Parent’s lenders will not take any steps for the purpose of procuring the appointment of an administrative receiver or the making of an administrative order for instituting any bankruptcy, reorganization, insolvency, wind up or liquidation or any like proceeding under applicable law in respect of the Borrower.
(b) Notwithstanding any of the foregoing set forth in this Section 11.17, the Borrower and the Lenders hereby acknowledge and agree that (i) this Loan Agreement and the Notes evidence Indebtedness of the Borrower and not of the Parent, (ii) the Lenders are not, and shall not at any time be deemed to be, “Parent’s lenders” under this Loan Agreement and the Notes, (iii) as set forth in this Loan Agreement and the Notes, the Borrower is responsible for the repayment of all amounts outstanding hereunder, and (iv) the Lenders reserve all rights to pursue any and all remedies available at law and otherwise (including, without limitation, in bankruptcy) should the Borrower breach any of its obligations under this Loan Agreement and/or the Notes.
Regulatory Statement. Pursuant to the terms of an order issued by the New Mexico Public Regulation Commission and a stipulation that has been approved by the New Mexico Public Regulation Commission, the Borrower is required to include the following separateness covenants in any debt instrument: The Borrower and PSNM are being operated as separate corporate and legal entities. In agreeing to make loans to the Borrower, the Borrower’s lenders are relying solely on the creditworthiness of the Borrower based on the assets owned by the Borrower, and the repayment of the loan will be made solely from the assets of the Borrower and not from any assets of PSNM; and the Borrower’s lenders will not take any steps for the purpose of procuring the appointment of an administrative receiver or the making of an administrative order for instituting any bankruptcy, reorganization, insolvency, wind up or liquidation or any like proceeding under applicable law in respect of PSNM.
Regulatory Statement. Pursuant to the terms of an order issued by the New Mexico Public Regulation Commission after the execution and delivery of the Indenture, the Company is required to include the following covenants in any debt instrument: The Company and its corporate parent, PNM Resources, Inc. ("Parent"), are being operated as separate corporate and legal entities. In agreeing to make loans to Parent, Parent's lenders are relying solely on the creditworthiness of Parent based on the assets owned by Parent, and the repayment of the loan will be made solely from the assets of Parent and not from any assets of the Company; and the Parent's lenders will not take any steps for the purpose of procuring the appointment of an administrative receiver or the making of an administrative order for instituting any bankruptcy, reorganization, insolvency, wind up or liquidation or any like proceeding under applicable law in respect of the Company.
Regulatory Statement. Pursuant to the terms of an order issued by the New Mexico Public Regulation Commission and a stipulation that has been approved by the New Mexico Public Regulation Commission, the Company is required to include the following separateness covenants in any debt instrument: The Company, PSNM and TNMP are being operated as separate corporate and legal entities. In agreeing to make loans to the Company, the Company's lenders are relying solely on the creditworthiness of the Company based on the assets owned by the Company, and the repayment of the loan will be made solely from the assets of the Company and not from any assets of PSNM or TNMP; and the Company's lenders will not take any steps for the purpose of procuring the appointment of an administrative receiver or the making of an administrative order for instituting any bankruptcy, reorganization, insolvency, wind up or liquidation or any like proceeding under applicable law in respect of PSNM or TNMP.
Regulatory Statement. (a) The Company and each of its Utility Subsidiaries are being operated as separate corporate and legal entities. Each Holder of any Note by his acceptance thereof shall be deemed to have relied solely on the creditworthiness of the Company based on the assets owned by it, and agreed that the payment of the principal of and any premium and interest on such Note shall be made solely from the assets of the Company and not from any assets of any Utility Subsidiary.
(b) Notwithstanding any other provision of this Indenture, each Holder of any Note by his acceptance thereof shall be deemed to have agreed not to take any steps for the purpose of procuring the appointment of an administrative receiver or the making of an administrative order for instituting any bankruptcy, reorganization, insolvency, wind up or liquidation or any like proceeding under applicable law in respect of any Utility Subsidiary.
(c) For purposes of this Section 1.14, the term "Utility Subsidiary" means any Person that is a Subsidiary of the Company that is (i) subject to regulation as a public utility in any state and, (ii) whether in connection with such Person having become a Subsidiary of the Company or otherwise, the Company has agreed, whether in connection with obtaining requisite regulatory approvals in connection with such Person becoming a Subsidiary or otherwise, that the substance of this Section 1.14 be applicable. In each Officers' Certificate delivered pursuant to Section 10.04, the Company shall identify each of its Subsidiaries that are Utility Subsidiaries for purposes of this Section 1.14.
Regulatory Statement. 60 11.18 USA Patriot Act Notice. 61 11.19 Acknowledgment. 61 11.20 Replacement of Lenders. 61
Regulatory Statement. Pursuant to the terms of an order issued by the New Mexico Public Regulation Commission, the Company is required to include the following separateness covenants in any debt instrument: The Company and PSNM are being operated as separate corporate and legal entities. In agreeing to make loans to the Company, the Company's lendersare relying solely on the creditworthiness of the Company based on the assets owned by the Company, and the repayment of the loan will be made solely from the assets of the Company and not from any assets of PSNM; and the Company's lenderswill not take any steps for the purpose of procuring the appointment of an administrative receiver or the making of an administrative order for instituting any bankruptcy, reorganization, insolvency, wind up or liquidation or any like proceeding under applicable law in respect of PSNM.
Regulatory Statement. Our Services
Regulatory Statement. Pursuant to the terms of an order issued by the New Mexico Public Regulation Commission and a stipulation that has been approved by the New Mexico Public Regulation Commission, the Borrower is required to include the following separateness covenants in any debt instrument: The Borrower, PSNM and TNMP are being operated as separate corporate and legal entities. In agreeing to make loans to the Borrower, the Borrower’s lenders are relying solely on the creditworthiness of the Borrower based on the assets owned by the Borrower, and the repayment of the loan will be made solely from the assets of the Borrower and not from any assets of PSNM or TNMP; and the Borrower’s lenders will not take any steps for the purpose of procuring the appointment of an administrative receiver or the making of an administrative order for instituting any bankruptcy, reorganization, insolvency, wind up or liquidation or any like proceeding under applicable law in respect of PSNM or TNMP.
Regulatory Statement. You have a right to rescind (stop) your enrollment within 10 calendar days after your utility has received your order to switch suppliers. You will receive a notice from your utility confirming your switch. You may call us at ▇▇▇-▇▇▇-▇▇▇▇ or your utility at Peoples ▇-▇▇▇-▇▇▇-▇▇▇▇, North Shore ▇-▇▇▇-▇▇▇-▇▇▇▇, or NICOR ▇-▇▇▇-▇▇▇▇▇▇▇ to rescind. You also have the right to terminate the contract without any termination fee or penalty if you contact us at ▇▇▇-▇▇▇-▇▇▇▇ within 10 business days after the date of your first bill with charges from Realgy Energy Services. You may contact the ICC Consumer Services Division at ▇-▇▇▇-▇▇▇-▇▇▇▇ Realgy is an independent seller of electric power and energy service certified by the Illinois Commerce Commission (ICC) and Realgy is NOT representing, endorsed by, or acting on behalf of a utility or a utility program, a consumer group or consumer group program, or a governmental body or program of a governmental body.