Common use of Servicing and Maintenance Standards Clause in Contracts

Servicing and Maintenance Standards. On behalf of the Bond Issuer, the Servicer shall (a) manage, service, administer and make collections in respect of the Phase-In-Recovery Property with reasonable care and in accordance with applicable law, including all applicable PUCO Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets for its own account and, if applicable, for others; (b) follow customary standards, policies and procedures for the industry in performing its duties as Servicer; (c) use all reasonable efforts, consistent with its customary servicing procedures, to xxxx and collect the Phase-In-Recovery Charge; (d) file all filings under the applicable UCC or the Statute necessary or desirable to maintain the first priority perfected security interest of the Bond Trustee in the Phase-In-Recovery Property; (e) comply in all material respects with all laws and regulations applicable to and binding on it relating to the Phase-In-Recovery Property; and (f) submit semiannually a request to the PUCO seeking a True-Up Adjustment, if any is required, of the Phase-In-Recovery Charge. The Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of all or any portion of the Phase-In-Recovery Property, which, in the Servicer’s judgment, may include the taking of legal action, at the Bond Issuer’s expense but subject to the priority of payments and Cap set forth in Section 8.02(e) of the Bond Indenture.

Servicing and Maintenance Standards. On behalf of the Bond Note Issuer, the Servicer shall (a) manage, service, administer and make collections in respect of the Phase-In-Recovery Transition Property with reasonable care and in accordance with applicable law, including all applicable PUCO DTE Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets for its own account and, if applicable, for others; (b) follow customary standards, policies and procedures for the industry in performing its duties as Servicer; (c) use all reasonable efforts, consistent with its customary servicing procedures, to xxxx and collect the Phase-In-Recovery RTC Charge; (d) file all filings under the applicable UCC Uniform Commercial Code or the Statute necessary or desirable to maintain the first priority perfected ownership interest and security interest of the Bond Note Issuer and the Note Trustee in the Phase-In-Recovery Transition Property; , (e) comply in all material respects with all laws and regulations applicable to and binding on it relating to the Phase-In-Recovery Transition Property; and , (f) submit semiannually a request at least annually the Periodic Adjustments pursuant to Section 4.01 and (g) obtain and maintain the PUCO seeking a True-Up AdjustmentServicer Letter of Credit (the cost of which shall be borne by the Note Issuer as an Operating Expense), if any is required, of the Phase-In-Recovery Chargeany. The Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of all or any portion of the Phase-In-Recovery Transition Property, which, in the Servicer’s 's judgment, may include the taking of legal action, at the Bond Note Issuer’s expense but subject to the priority of payments and Cap set forth in Section 8.02(e) of the Bond Indenture's expense.