Storm Recovery Property definition

Storm Recovery Property means all storm recovery property as defined in Section 62-172(a)(17)a. of the Storm Recovery Law created pursuant to the Financing Order or a Subsequent Financing Order and under the Storm Recovery Law, including the right to impose, bill, charge, collect and receive the Storm Recovery Charges authorized under the Financing Order and to obtain periodic adjustments of the Storm Recovery Charges and all revenue, collections, claims, rights to payments, payments, money, or proceeds arising from the rights and interests specified in Section 62-172(a)(17)b. of the Storm Recovery Law, regardless of whether such revenues, collections, claims, rights to payments, money, or proceeds are imposed, billed, received, collected, or maintained together with or commingled with other revenues, collections, rights to payment, payments, money or proceeds.

Storm Recovery Property means all of Seller’s rights and interest under the Financing Order (including, without limitation, rights to impose, collect and receive the “storm recovery charges” (as defined in the Securitization Act) approved in such Financing Order) issued by the LPSC on April 1, 2022 (Docket No. U-35807) pursuant to the Securitization Act, except the rights of Seller to earn and receive a rate of return on its invested capital in the Issuer, to receive administration and servicer fees, to withdraw funds from its restricted storm recovery reserve funded by the proceeds from the sale of the Storm Recovery Property, or to use the Seller’s remaining portion of those proceeds.

Storm Recovery Property means all storm recovery property as defined in Section 1227(17) of the Securitization Act created pursuant to a Financing Order and pertaining to the applicable Series of Storm Recovery Bonds authorized by such Financing Order and sold or otherwise conveyed to the Company.

Examples of Storm Recovery Property in a sentence

• The Indenture Trustee, acting at the written direction of the Majority Holders, may waive in writing in whole or in part any default by the Servicer in the performance of its obligations hereunder and its consequences, except a default in making any required remittances to the Indenture Trustee of SRC Collections from Storm Recovery Property in accordance with Section 6.12 of this Agreement.

• As soon as practicable after receipt by the Servicer of such Termination Notice, the Servicer shall deliver the Storm Recovery Property Documentation to the Successor Servicer.

• If a Successor Servicer is appointed as a result of a Servicer Default, all reasonable costs and expenses (including reasonable attorneys’ fees and expenses) incurred in connection with transferring the Storm Recovery Property Documentation to the Successor Servicer and amending this Agreement to reflect such succession as Servicer pursuant to this Section shall be paid by the predecessor Servicer upon presentation of reasonable documentation of such costs and expenses.

• The Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of all or any portion of the Storm Recovery Property, which, in the Servicer’s judgment, may include the taking of legal action pursuant to Section 5.02(d) hereof or otherwise.

• The Servicer hereby acknowledges and consents to any pledge, assignment and grant of a security interest by the Issuer to the Indenture Trustee pursuant to the Indenture for the benefit of any Storm Recovery Bondholders of all right, title and interest of the Issuer in, to and under the Storm Recovery Property owned by the Issuer and the proceeds thereof and the pledge of any or all of the Issuer’s rights hereunder to the Indenture Trustee.

More Definitions of Storm Recovery Property

Storm Recovery Property means the contract right constituting incorporeal movable property newly created pursuant to the Storm Recovery Act which may consist of any of (i) all rights and interests of the Utility or Finsub under a Storm Recovery Financing Order, including the right to impose, xxxx, charge, collect, and receive Storm Recovery Charges authorized in such Storm Recovery Financing Order and to obtain periodic adjustments to such charges as may be provided in such Storm Recovery Financing Order, (ii) all revenues, collections, claims, rights to payments, payments, money, or proceeds arising from the rights and interests specified in clause (i) above, regardless of whether such revenues, collections, claims, rights to payment, payments, money, or proceeds are imposed, billed, received, collected, or maintained together with or commingled with other revenues, collections, rights to payment, payments, money, or proceeds.

Storm Recovery Property means the Storm-Recovery Property that is authorized under the Financing Order, and that is sold by the Seller to the Issuer under the Sale Agreement or under a Subsequent Sale Agreement, but does not include the right to any revenues, collections, claims, rights, payments, money or proceeds of or arising from the Tax Charges.

Storm Recovery Property means the property rights and interests

Storm Recovery Property means the Storm Recovery Property sold, transferred, assigned, set over and conveyed by the Seller to the Issuer as of the Transfer Date pursuant to this Agreement.

Storm Recovery Property means all storm recovery property as defined in Section 23-18-902(16) of the Securitization Act created in favor of EAI pursuant to the Financing Order, including the right to impose, bill, collect and receive the Storm Recovery Charges authorized in the Financing Order, and sold or otherwise conveyed to the Issuer under the Sale Agreement. As used in the Basic Documents, unless the context requires otherwise, the term “Storm Recovery Property” when used with respect to EAI includes the contract rights of EAI that exist prior to the time that such rights are first sold and transferred in connection with the issuance of the Storm Recovery Bonds, at which time they become storm recovery property in accordance with Section 00-00-000 of the Securitization Act.

Storm Recovery Property means all of Seller’s rights and interest under the Financing Order (including, without limitation, rights to impose, collect and receive the “storm recovery charges” (as defined in the Securitization Act) approved in such Financing Order) issued by the LPSC on September 17, 2007 (Docket No. U-29157) pursuant to the Securitization Act, except the rights of Seller to earn and receive a rate of return on its invested capital in the Issuer, to

Storm Recovery Property means the property transferred by the Seller to the Company pursuant to any Sale Agreement, consisting of the irrevocable right of FPL to charge, collect and receive, and be paid from collections of, the storm-recovery charges in the amount necessary to provide for the full recovery of the storm-recovery costs and other costs which have been determined to be chargeable in the Financing Order, all rights of FPL under the Financing Order, including all rights to obtain periodic adjustments of the storm-recovery bond charges pursuant to Section 366.8260, and all revenues, collections, payments, money and proceeds arising under, or with respect to, all of the foregoing.