Common use of Transfer Filings Clause in Contracts

Transfer Filings. On the Closing Date, immediately upon the sale hereunder, the Securitization Property shall be validly transferred and sold to the Issuer, the Issuer shall own all the Securitization Property free and clear of all Liens (except for the Lien created in favor of the Indenture Trustee granted under the Indenture and perfected pursuant to the Securitization Law) and all filings and actions to be made or taken by the Seller (including filings with the Michigan Department of State pursuant to the Securitization Law) necessary in any jurisdiction to give the Issuer a perfected ownership interest (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders pursuant to the Indenture and perfected pursuant to the Securitization Law) in the Securitization Property have been made or taken. No further action is required to maintain such ownership interest (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders pursuant to the Indenture and perfected pursuant to the Securitization Law) and to give the Indenture Trustee a first priority perfected security interest in the Securitization Property. All filings and action have also been made or taken to perfect the security interest in the Securitization Property granted by the Seller to the Issuer (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders pursuant to the Indenture and perfected pursuant to the Securitization Law) and, to the extent necessary, the Indenture Trustee pursuant to Section 2.01.

Transfer Filings. On the Closing Date, immediately upon the sale hereunder, the Securitization CRR Property shall be validly transferred and sold to the Issuer, the Issuer shall own all the Securitization CRR Property free and clear of all Liens (except for the Lien created in favor of the Indenture Trustee granted under the Indenture and perfected pursuant to Section 24-2-4f(o)(4) of the Securitization Law) and all filings and actions to be made or taken by the Seller (including including, without limitation, filings with the Michigan Department Secretary of State pursuant to of the State of West Virginia under the Securitization Law) necessary in any jurisdiction to give the Issuer a perfected ownership interest (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders pursuant to the Indenture and perfected pursuant to Section 24-2-4f(o)(4) of the Securitization Law) in the Securitization CRR Property have been made or taken. No further action is required to maintain such ownership interest (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders pursuant to the Indenture and perfected pursuant to Section 24-2-4f(o)(4) of the Securitization Law) and to give the Indenture Trustee a first priority perfected security interest in the Securitization CRR Property. All filings and action have also been made or taken to perfect the security interest in the Securitization CRR Property granted by the Seller to the Issuer (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders pursuant to the Indenture and perfected pursuant to Section 24-2-4f(o)(4) of the Securitization Law) and, to the extent necessary, the Indenture Trustee pursuant to Section 2.01.

Transfer Filings. On the Closing Date, immediately upon the sale hereunder, the Securitization Transition Property shall be validly transferred and sold to the Issuer, the Issuer shall own all the Securitization Transition Property free and clear of all Liens (except for the any Lien created in favor of the Indenture Trustee Holders pursuant to Section 39.309 of the Securitization Law or any Lien that may be granted under the Indenture and perfected pursuant to the Securitization LawBasic Documents) and all filings and actions action to be made or taken by the Seller (including including, without limitation, filings with the Michigan Department Secretary of State pursuant to of the State of Texas under the Securitization Law) necessary in any jurisdiction to give the Issuer a perfected ownership interest (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders pursuant to the Indenture and perfected pursuant to Section 39.309 of the Securitization LawLaw and any Lien that may be granted under the Basic Documents) in the Securitization Transition Property have been made or taken. No further action is required to maintain such ownership interest (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders pursuant to the Indenture and perfected pursuant to Section 39.309 of the Securitization LawLaw and any Lien that may be granted under the Basic Documents) and to give the Indenture Trustee a first priority perfected security interest in the Securitization Transition Property. All filings and action have also been made or taken to perfect the security interest in the Securitization Transition Property granted by the Seller to the Issuer (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders pursuant to the Indenture and perfected pursuant to Section 39.309 of the Securitization LawLaw and any Lien that may be granted under the Basic Documents) and, to the extent necessary, the Indenture Trustee pursuant to Section 2.01.

Transfer Filings. On the Closing Transfer Date, immediately upon the sale hereunder, the Securitization Storm Recovery Property shall be validly transferred and sold to the Issuer, the Issuer shall own all of the Securitization Storm Recovery Property free and clear of all Liens (except for the any Lien created in favor of the Indenture Trustee Secured Parties pursuant to Section 00-00-000 of the Securitization Act or any Lien that may be granted under the Indenture and perfected pursuant to the Securitization LawBasic Documents) and all filings and actions action to be made or taken by the Seller (including including, without limitation, filings with the Michigan Department Secretary of State pursuant to of the State of Arkansas under the Securitization LawAct) necessary in any jurisdiction to give the Issuer a perfected ownership interest (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders pursuant to the Indenture and perfected pursuant to Section 00-00-000 of the Securitization LawAct and any Lien that may be granted under the Basic Documents) in the Securitization Storm Recovery Property have been made or taken. No further action is required to maintain such ownership interest (subject to any Lien created in favor of the Indenture Trustee for the benefit Secured Parties pursuant to Section 00-00-000 of the Holders pursuant to Securitization Act and any Lien that may be granted under the Indenture and perfected pursuant to the Securitization LawBasic Documents) and to give the Indenture Trustee a first priority perfected security interest in the Securitization Storm Recovery Property. All filings and action have also been made or taken to perfect the security interest in the Securitization Storm Recovery Property granted by the Seller to the Issuer (subject to any Lien created in favor of the Indenture Trustee for the benefit Secured Parties pursuant to Section 00-00-000 of the Holders pursuant to Securitization Act and any Lien that may be granted under the Indenture and perfected pursuant to the Securitization LawBasic Documents) and, to the extent necessary, necessary the Indenture Trustee Trustee, pursuant to Section 2.01.

Transfer Filings. On the Closing such Transfer Date, immediately upon the sale hereunder, the Securitization Transferred Transition Property shall be validly transferred and sold to the Issuer, the Issuer shall own all the Securitization such Transferred Transition Property free and clear of all Liens (except for the any Lien created in favor of the Indenture Trustee Holders pursuant to Section 39.309 of the Securitization Law or any Lien that may be granted under the Indenture and perfected pursuant to the Securitization LawBasic Documents) and all filings and actions action to be made or taken by the Seller (including including, without limitation, filings with the Michigan Department Secretary of State pursuant to of the State of Texas under the Securitization Law) necessary in any jurisdiction to give the Issuer a perfected ownership interest (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders pursuant to the Indenture and perfected pursuant to Section 39.309 of the Securitization LawLaw and any Lien that may be granted under the Basic Documents) in the Securitization Transferred Transition Property have been made or taken. No further action is required to maintain such ownership interest (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders pursuant to the Indenture and perfected pursuant to Section 39.309 of the Securitization LawLaw and any Lien that may be granted under the Basic Documents) and to give the Indenture Trustee a first priority perfected security interest in the Securitization Transferred Transition Property. All filings and action have also been made or taken to perfect the security interest in the Securitization Transferred Transition Property granted by the Seller to the Issuer (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders pursuant to the Indenture and perfected pursuant to Section 39.309 of the Securitization LawLaw and any Lien that may be granted under the Basic Documents) and, to the extent necessary, the Indenture Trustee pursuant to Section 2.01, in the case of the Original Transition Property, or Section 2.02, in the case of Subsequent Transition Property.

Transfer Filings. On the Closing Transfer Date, immediately upon the sale hereunder, the Securitization Transition Property shall be validly transferred and sold to the Issuer, the Issuer shall own all of the Securitization Transition Property free and clear of all Liens (except for the any Lien created in favor of the Indenture Trustee Secured Parties pursuant to Section 39.309 of the Securitization Law or any Lien that may be granted under the Indenture and perfected pursuant to the Securitization LawBasic Documents) and all filings and actions action to be made or taken by the Seller (including including, without limitation, filings with the Michigan Department Secretary of State pursuant to of the State of Texas under the Securitization Law) necessary in any jurisdiction to give the Issuer a perfected ownership interest (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders pursuant to the Indenture and perfected pursuant to Section 39.309 of the Securitization LawLaw and any Lien that may be granted under the Basic Documents) in the Securitization Transition Property have been made or taken. No further action is required to maintain such ownership interest (subject to any Lien created in favor of the Indenture Trustee for the benefit Secured Parties pursuant to Section 39.309 of the Holders pursuant to Securitization Law and any Lien that may be granted under the Indenture and perfected pursuant to the Securitization LawBasic Documents) and to give the Indenture Trustee a first priority perfected security interest in the Securitization Transition Property. All filings and action have also been made or taken to perfect the security interest in the Securitization Transition Property granted by the Seller to the Issuer (subject to any Lien created in favor of the Indenture Trustee for the benefit Secured Parties pursuant to Section 39.309 of the Holders pursuant to Securitization Law and any Lien that may be granted under the Indenture and perfected pursuant to the Securitization LawBasic Documents) and, to the extent necessary, necessary the Indenture Trustee Trustee, pursuant to Section 2.01.

Transfer Filings. On the Closing such Transfer Date, immediately upon the sale hereunder, the Securitization Transferred Transition Property shall be validly transferred and sold to the Issuer, the Issuer shall own all the Securitization such Transferred Transition Property free and clear of all Liens (except for the any Lien created in favor of the Indenture Trustee Holders pursuant to Section 39.309 of the Securitization Law or any Lien that may be granted under the Indenture and perfected pursuant to the Securitization LawBasic Documents) and all filings and actions action to be made or taken by the Seller (including including, without limitation, filings with the Michigan Department Secretary of State pursuant to of the State of Texas under the Securitization Law) necessary in any jurisdiction to give the Issuer a perfected ownership interest (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders pursuant to the Indenture and perfected pursuant to Section 39.309 of the Securitization LawLaw and any Lien that may be granted under the Basic Documents) in the Securitization Transferred Transition Property have been made or taken. No further action is required to maintain such ownership interest (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders pursuant to the Indenture and perfected pursuant to Section 39.309 of the Securitization LawLaw and any Lien that may be granted under the Basic Documents) and to give the Indenture Trustee a first priority perfected security interest in the Securitization Transferred Transition Property. All filings and action have also been made or taken to perfect the security interest in the Securitization Transferred Transition Property granted by the Seller to the Issuer (subject to any Lien created in favor of the Indenture Trustee for the benefit of the Holders pursuant to the Indenture and perfected pursuant to Section 39.309 of the Securitization LawLaw and any Lien that may be granted under the Basic Documents) and, to the extent necessary, necessary the Indenture Trustee Trustee, pursuant to Section 2.01, in the case of the Original Transition Property, or Section 2.02, in the case of Subsequent Transition Property.