Transition Bonds Clause Samples

Transition Bonds. In order to secure the payment of principal of and interest on the Series 1999-1 Transition Bonds issued and to be issued under the Indenture and/or any Series Supplement, the Issuer hereby confirms the Grant to the Trustee for the benefit of the Holders of the Series 1999-1 Transition Bonds from time to time issued and outstanding, all of the Issuer's right, title and interest in, to and under the Collateral, including without limitation, the Intangible Transition Property transferred by the Seller to the Issuer as of the Initial Transfer Date pursuant to the Sale Agreement and all proceeds thereof. The Trustee, on behalf of the Holders of the Series 1999-1 Transition Bonds, acknowledges the confirmation of such Grant, accepts the trusts hereunder in accordance with the provisions hereof and agrees to perform its duties required in the Indenture and this Supplement.

Transition Bonds. See Section 6.3(a).

Transition Bonds. Notwithstanding any provision herein to the contrary, this Agreement shall not restrict Parent from (i) issuing through PECO Energy Trust, a Delaware business trust and a Parent Subsidiary, or through any other special purpose entity which is a Parent Subsidiary, transition bonds in accordance with the Pennsylvania Competition Act in an aggregate principal amount not to exceed $1,000,000,000, (ii) selling, in connection with such issuance, all or any part of the "Intangible Transition Property" (as such term is defined in the Pennsylvania Competition Act) and any other property or rights necessary as collateral to secure such transition bonds and (iii) using the proceeds from such issuances of transition bonds to purchase Parent Common Stock for aggregate consideration of up to $500,000,000 as contemplated by Section 6.15(a), to repay outstanding debt of the Parent or to purchase Parent Preferred Stock.

Transition Bonds. If there is a shortfall in the amounts available in the Collection Account to make interest payments, the Trustee will distribute Interest Pro Rata to each Outstanding Series and Class of Transition Bonds based on the amount of Interest payable on each Outstanding Series. Interest on the Series 2001-1 Transition Bonds will be calculated on the basis of a 360-day year of twelve 30-day months.

Transition Bonds. In order to secure the payment of principal of and interest on (i) the $440 million principal amount of the Issuer's Transition Bonds, Series 2002-1 (the "Series 2002-1 Transition Bonds") issued under the Indenture and the Series Supplement dated as of December 19, 2002 and (ii) the Series 2003-1 Transition Bonds to be issued under the Indenture and this Supplement, the Issuer hereby confirms the Grant to the Trustee, for the benefit of the Holders of the Series 2002-1 Transition Bonds and the Series 2003-1 Transition Bonds from time to time issued and Outstanding, of all of the Issuer's right, title and interest in, to and under the Collateral, including without limitation the Bondable Transition Property transferred pursuant to the Sale Agreement by the Seller to the Issuer on the Initial Transfer Date and the Bondable Transition Property transferred by the Seller to the Issuer on the date hereof, and all proceeds thereof. The Trustee, on behalf of the Holders of the Series 2002-1 Transition Bonds and the Series 2003-1 Transition Bonds, acknowledges the confirmation of such Grant, accepts the trusts hereunder in accordance with the provisions hereof and agrees to perform its duties required in the Indenture and this Supplement.

Transition Bonds. See Section 8.5(a). Transition Item. See Section 8.5(a). Transition Services Agreement. See Section 9.4.