Examples of Louisiana Commission in a sentence
Notwithstanding anything to the contrary in this Section 9.01 or 9.02, no indenture or indentures supplemental to this Indenture (other than the Series Supplement which shall not be subject to the Louisiana Commission Condition (as described in this Section 9.03)) shall be effective if such supplemental indenture or indentures increases Ongoing Financing Costs, except upon satisfaction of the conditions precedent in this Section 9.03 (the “Louisiana Commission Condition”).
The Seller hereby agrees not to withdraw the filing of the Issuance Advice Letter with the Louisiana Commission.
After the effectiveness thereof, Seller shall provide prompt written notice of any material waiver to the Rating Agencies and the Louisiana Commission.
Notice of any such appointment shall be promptly given to each Rating Agency and to the Louisiana Commission by the Indenture Trustee.
The Issuer agrees to give the Indenture Trustee, the Louisiana Commission and the Rating Agencies prompt written notice in the form of an Officer’s Certificate of each Default or Event of Default hereunder as provided in Section 5.01, and upon the actual knowledge of a Responsible Officer of the Issuer thereof each default on the part of the Seller or the Servicer of its obligations under the Sale Agreement or the Servicing Agreement, respectively.
The Seller shall institute any action or proceeding reasonably necessary to compel performance by the Louisiana Commission or the State of Louisiana of any of their obligations or duties under the Securitization Act, the Financing Order or the Issuance Advice Letter relating to the transfer of the rights and interests under the Financing Order by the Seller to the Issuer and shall provide written notice to the Indenture Trustee of the institution of any such action.
In no event shall the Indenture Trustee be responsible for determining if a Louisiana Commission Condition has been satisfied, but it shall rely exclusively on an Officer’s Certificate of the Issuer stating that such condition has been satisfied.