NYPSC Regulations definition
Examples of NYPSC Regulations in a sentence
The Servicer shall not take any action that is not authorized by this Agreement, that would contravene the Laws of New York, the NYPSC Regulations or the Financing Order, that is not consistent with its customary procedures and practices, or that shall impair the rights of the Issuer in the Recovery Property, in each case unless such action is required by applicable law or court or regulatory order.
To the extent that Bill format, structure and text are not prescribed by this Agreement, the Financing Order, the Act or by applicable NYPSC Regulations, the Servicer shall determine the format, structure and text of all Bills in accordance with its reasonable business judgment, its Servicer Policies and Practices with respect to its own charges and prevailing industry standards.
The Servicer shall promptly notify the Issuer, the Indenture Trustee and the Rating Agencies in writing if it becomes aware of any Requirements of Law or NYPSC Regulations hereafter promulgated that have a material adverse effect on the Servicer’s ability to perform its duties under this Agreement.
Anything to the contrary notwithstanding, the duties of the Servicer set forth in this Servicing Agreement shall be qualified and limited in their entirety by any NYPSC Regulations, the Act, the Financing Order and the U.S. federal securities laws and the rules and regulations promulgated thereunder, including Regulation AB, as in effect at the time such duties are to be performed.
Prior to each Daily Remittance, the Servicer may invest Recovery Charge Payments received at its own risk and (except as required by applicable NYPSC Regulations) for its own benefit.
The Servicer (a) shall obtain a calculation of each Customer’s usage (which may be based on data obtained from such Customer’s meter read or on usage estimates determined in accordance with the Servicer Policies and Practices, applicable NYPSC Regulations, and the Home Energy Fair Practices Act (HEFPA)) at least once each billing period and shall determine therefrom each Customer’s individual Recovery Charge to be included on such Customer’s Bill.
A Person shall qualify as a successor Servicer only if (i) such Person is permitted under NYPSC Regulations to perform the duties of the Servicer, (ii) the Rating Agency Condition shall have been satisfied and (iii) such Person enters into a servicing agreement with the Issuer having substantially the same provisions as this Agreement.