Common use of The Financing Order Clause in Contracts

The Financing Order. (a) The Financing Order was issued by the Texas Commission on August 26, 2009 in accordance with the Public Utility Regulatory Act and the System Restoration Amendments; the Financing Order and the process by which it was issued comply with all applicable laws, rules and regulations of the State of Texas and the federal laws of the United States, and the Financing Order is final, non-appealable and in full force and effect. (b) As of the date of issuance of the Bonds, the Bonds will be entitled to the protections provided by the Public Utility Regulatory Act and the Financing Order, and the Financing Order and the System Restoration Charges authorized therein will have become irrevocable and not subject to reduction, impairment or adjustment by further action of the Texas Commission, except as permitted by Section 39.307 of the Public Utility Regulatory Act, and the Issuance Advice Letter has been filed in accordance with the Financing Order. The Texas Commission has not issued any order prior to noon on the fourth business day after submission of the Issuance Advice Letter that the Bonds do not comply with Ordering Paragraph Six of the Financing Order and the initial System Restoration Charges and the final terms of the Bonds set forth in the Issuance Advice Letter have become effective.

The Financing Order. (a) The Financing Order was issued by the Texas Commission on August 26September 18, 2009 2007 in accordance with the Public Utility Regulatory Act and the System Restoration AmendmentsTexas Electric Choice Plan; the Financing Order and the process by which it was issued comply with all applicable laws, rules and regulations of the State of Texas and the federal laws of the United States, and the Financing Order is final, non-appealable and in full force and effect. (b) As of the date of issuance of the Transition Bonds, the Transition Bonds will be entitled to the protections provided by the Public Utility Regulatory Act Texas Electric Choice Plan and the Financing Order, and the Financing Order and the System Restoration Transition Charges authorized therein will have become irrevocable and not subject to reduction, impairment or adjustment by further action of the Texas Commission, except as permitted by Section 39.307 of the Public Utility Regulatory ActTexas Electric Choice Plan, and the Issuance Advice Letter has been filed in accordance with the Financing Order. The Texas Commission has not issued any order prior to noon on the fourth business day after submission of the Issuance Advice Letter that the Transition Bonds do not comply with Ordering Paragraph Six Five of the Financing Order and the initial System Restoration Transition Charges and the final terms of the Transition Bonds set forth in the Issuance Advice Letter have become effective.