Common use of Routine True-Up Adjustments Clause in Contracts

Routine True-Up Adjustments. (a) With respect to each series of Environmental Control Bonds, the Servicer shall file a True-Up Adjustment Filing with the PSCWV at the following times: (i) at least 15 days prior to each Semi-Annual True-Up Adjustment Date; and (ii) at least 15 days prior to each Quarterly True-Up Adjustment Date and each Monthly True-Up Adjustment Date. (b) For the purpose of filing any Semi-Annual True-Up Adjustment Filing, the Servicer shall (i) update assumptions of projected future usage and demand of electricity by Customers, expected delinquencies and Write-offs and future expenses relating to Transferred Environmental Control Property and the Environmental Control Bonds; (ii) calculate the Periodic Bond Payment Requirement based upon such updated assumptions; and (iii) determine the Environmental Control Charge to be charged on and after the applicable True-Up Adjustment Date. (c) Each True-Up Adjustment Filing shall be substantially in the form of Annex 1 to this Servicing Agreement. (d) The Servicer shall (i) take all reasonable actions and make all reasonable efforts in order to effectuate any Routine True-Up Adjustment to the Environmental Control Charge and (ii) promptly send to the Indenture Trustee copies of all material notices and documents relating to such Routine True-Up Adjustment. (e) On the same date that the Servicer files any True-Up Adjustment Filing with the PSCWV, if the Routine True-Up Adjustment is intended to result in an increase in the amount of the Environmental Control Charge, the Servicer shall give public notice through the publication of a Class I legal advertisement in Kanawha County, will respond to any comments to such publication and will attend any hearing held in connection with any such True-Up Adjustment Filing.

Routine True-Up Adjustments. (a) With respect to each series of Environmental Control Bonds, the Servicer shall file a True-Up Adjustment Filing with the PSCWV at the following times: (i) at least 15 days prior to each Semi-Annual True-Up Adjustment Date; and (ii) at least 15 days prior to each Quarterly True-Up Adjustment Date and each Monthly True-Up Adjustment Date. (b) For the purpose of filing any Semi-Annual True-Up Adjustment Filing, the Servicer shall (i) update assumptions of projected future usage and demand of electricity by Customers, expected delinquencies and Write-offs and future expenses relating to Transferred Environmental Control Property and the Environmental Control Bonds; (ii) calculate the Periodic Bond Payment Requirement based upon such updated assumptions; and (iii) determine the Environmental Control Charge to be charged on and after the applicable True-Up Adjustment Date. (c) Each True-Up Adjustment Filing shall be substantially in the form of Annex 1 to this Servicing Agreement. (d) The Servicer shall (i) take all reasonable actions and make all reasonable efforts in order to effectuate any Routine True-Up Adjustment to the Environmental Control Charge and (ii) promptly send to the Indenture Trustee copies of all material notices and documents relating to such Routine True-Up Adjustment. (e) On the same date that the Servicer files any True-Up Adjustment Filing with the PSCWV, if the Routine True-Up Adjustment is intended to result in an increase in the amount of the Environmental Control Charge, the Servicer shall give public notice through the publication of a Class I legal advertisement in Kanawha County, will respond to any comments to such publication and will attend any hearing held in connection with any such True-Up Adjustment Filing.