Common use of Financing Order; Other Approvals Clause in Contracts

Financing Order; Other Approvals. On the Closing Date, under the laws of the State of Wisconsin and the United States in effect on the Closing Date: (i) the Financing Order pursuant to which the rights and interests of the Seller, including the right to impose, collect and receive the Environmental Control Charges and, in and to the Environmental Control Property transferred on such date have been created, is Final and in full force and effect; (ii) as of the issuance of the Environmental Trust Bonds, the Environmental Trust Bonds are entitled to the protections provided by the Statute and, accordingly, the Financing Order and the Environmental Control Charges are not revocable by the PSCW; (iii) under the terms of the Financing Order, the initial Environmental Control Charges shall become effective the first day of the first full month following the issuance of the Environmental Trust Bonds; (iv) the process by which the Financing Order creating the Environmental Control Property was adopted and approved, and the Financing Order and the Tariff themselves, comply with all applicable laws, rules and regulations; and (v) no other approval, authorization, consent, order or other action of, or filing with any Governmental Authority is required in connection with the creation of the Environmental Control Property transferred on such date, except those that have been obtained or made.