Restrictions on the Member. The Member shall not apply for judicial dissolution of the Company, and the Member is not permitted to and shall not withdraw from or otherwise cease to be a member of the Company for any reason whatsoever, including that the Member itself shall not dissolve or otherwise terminate its legal existence, unless an acceptable new member of the Company is substituted for the Member in compliance with the Basic Documents, the Securitization Act and each applicable Financing Order, until all of the Storm Recovery Bonds and all Financing Costs have been paid in full.
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Samples: Limited Liability Company Operating Agreement (Cleco Power LLC), Limited Liability Company Operating Agreement (Cleco Power LLC), Limited Liability Company Operating Agreement (Cleco Power LLC)
Restrictions on the Member. The Member shall not apply for judicial dissolution of the Company, and the Member is not permitted to and shall not withdraw from or otherwise cease to be a member of the Company for any reason whatsoever, including that the Member itself shall not dissolve or otherwise terminate its legal existence, unless an acceptable new member of the Company is substituted for the Member in compliance with the Basic Documents, the Securitization Act Law and each applicable Financing Order, until all of the Storm Recovery Bonds and all Financing Costs financing costs have been paid in full.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Cleco Katrina/Rita Hurricane Recovery Funding LLC)
Restrictions on the Member. The Member shall not apply for judicial dissolution of the Company, and the Member is not permitted to and shall not withdraw from or otherwise cease to be a member of the Company for any reason whatsoever, including that the Member itself shall not dissolve or otherwise terminate its legal existence, unless an acceptable new member of the Company acceptable to the Council is substituted for the Member in compliance with the Basic Documents, Documents and the Securitization Act and each applicable Financing Order, until all of the Storm Recovery Bonds and all Financing Costs financing costs have been paid in full.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Entergy New Orleans Inc)
Restrictions on the Member. The Member shall not apply for judicial dissolution of the Company, and the Member is not permitted to and shall not withdraw from or otherwise cease to be a member of the Company for any reason whatsoever, including that the Member itself shall not dissolve or otherwise terminate its legal existence, unless an acceptable new member of the Company is substituted for the Member in compliance with the Basic Documents, the Securitization Act and each applicable the Financing Order, until all of the Storm Recovery Bonds and all Financing Costs have been paid in full.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Cleco Power LLC)
Restrictions on the Member. The Member shall not apply for judicial dissolution of the Company, and the Member is not permitted to and shall not withdraw from or otherwise cease to be a member of the Company for any reason whatsoever, including that the Member itself shall not dissolve or otherwise terminate its legal existence, unless an acceptable new member of the Company is substituted for the Member in compliance with the Basic Documents, Documents and the Securitization Act and each applicable Financing Order, until all of the Storm Investment Recovery Bonds and all Financing Costs financing costs have been paid in full.
Appears in 1 contract
