Securitized Bonds definition

Securitized Bonds means nonrecourse bonds or similar asset-backed securities issued by a special-purpose Subsidiary of the Company which are payable solely from specialized charges authorized by the utility commission of the relevant state in connection with the recovery of (x) stranded regulatory costs, (y) stranded clean air and pension costs and (z) other “Qualified Costs” (as defined in M.C.L. §460.10h(g)) authorized to be securitized by the Michigan Public Service Commission.

Securitized Bonds without duplication, securities, however denominated, that are (i) issued by a Qualified Securitization Bond Issuer, (ii) secured by or otherwise payable from charges authorized by the financing order referred to in clause (a) of the definition of “Qualified Securitization Bond Issuer,” and (iii) non-recourse to the Borrower or any of its Subsidiaries (other than the issuer of such securities).

Securitized Bonds means any nonrecourse bonds or similar asset-backed securities issued by a special-purpose subsidiary of Consumers which are payable solely from specialized charges authorized by the utility commission of the relevant state in connection with the recovery of regulatory assets or other stranded costs.

Examples of Securitized Bonds in a sentence

• Credit Risk on Securitized Bonds depends upon the Originator and varies depending on whether they are issued with Recourse to Originator or otherwise.

• TRUE UP: The Securitized Charges imposed by this rider shall be set and adjusted from time to time as set forth in any True-Up Letter delivered to the Cooperative by the Master Servicer for the Securitized Bonds, delivered under the terms of and in accordance with the Financing Order and the Master ServicingBARTLETT ELECTRIC COOPERATIVE, INC.

• Costs associated with repaying the Securitized Bonds shall be the same for all Member classes; provided, however, the Securitized Charge shall not be billed to any Excluded Customer as provided in the Financing Order.

• The Securitized Charge imposed by this rider shall become effective the first billing cycle of the month following the issuance of the Securitized Bonds and shall remain in effect until the complete repayment and retirement of the Securitized Bonds.

• The termination fee shall equal the Securitized Charges billed to the Member over the previous 12 months (or an approximate annualized amount, based on amounts billed to such customer to date, for Members that have been billed the Securitized Charges for fewer than 12 months) multiplied by the remaining years that the Securitized Bonds are scheduled to be outstanding.

More Definitions of Securitized Bonds

Securitized Bonds means any nonrecourse bonds or similar asset-backed securities issued by a special-purpose Subsidiary of the Company which are payable solely from specialized charges authorized by the utility commission of the relevant state in connection with the recovery of regulatory assets or other stranded costs.

Securitized Bonds means bonds, debentures,

Securitized Bonds any securitized bonds or similar asset-backed securities that are non-recourse to the Borrower, are issued by a special purpose subsidiary of the Borrower and are payable from a specific or dedicated rate component, including the energy recovery bonds backed by energy recovery property that the Borrower issued in 2005, the outstanding principal amount of which was $1,120,270,137 on March 31, 2010.

Securitized Bonds means any bonds or other securities, however denominated, that are (i) issued by a Qualified Securitization Bond Issuer and/or (ii) secured by or otherwise payable from Securitization Bond Charges.

Securitized Bonds means nonrecourse bonds or similar asset-backed securities issued by a special-purpose Subsidiary of the Company which are payable solely from specialized charges authorized by the utility commission of the relevant state in connection with the recovery of (x) stranded regulatory costs,(y) stranded clean air and pension costs and (z) other “Qualified Costs” (as defined in M.C.L. §460.10h(g)) authorized to be securitized by the Michigan Public Service Commission.

Securitized Bonds any securitized bonds or similar asset-backed securities that are non-recourse to PG&E Utility, are issued by a special purpose subsidiary of PG&E Utility and are payable from a specific or dedicated rate component.

Securitized Bonds any securitized bonds or similar asset-backed securities that are non-recourse to the Borrower, are issued by a special purpose subsidiary of the Borrower and are payable from a specific or dedicated rate component.