Common use of Irrevocable; Process Valid; No Litigation; Etc Clause in Contracts

Irrevocable; Process Valid; No Litigation; Etc. (i) The Qualified Rate Order has been issued by the PUC in accordance with the Statute, such order and the process by which it was issued comply with all applicable laws, rules and regulations, and such order is in full force and effect. (ii) As of the date of issuance of any Series of Transition Bonds, such Transition Bonds are entitled to the protections provided by the Statute and, accordingly, the provisions of the Qualified Rate Order relating to Intangible Transition Property and Intangible Transition Charges are not revocable by the PUC. (iii) (a) Under the Statute, neither the Commonwealth of Pennsylvania nor the PUC may limit, alter or in any way impair or reduce the value of Intangible Transition Property or

Irrevocable; Process Valid; No Litigation; Etc. (i) The Each Qualified Rate Order has been issued by the PUC in accordance with the Statute, such order and the process by which it was issued comply with all applicable laws, rules and regulations, and each such order is in full force and effect. (ii) As of the date of issuance of any Series of Transition Bonds, such Transition Bonds are entitled to the protections provided by the Statute and, accordingly, the provisions of the each Qualified Rate Order relating to Intangible Transition Property and Intangible Transition Charges are not revocable by the PUC. (iii) (a) Under the Statute, neither the Commonwealth of Pennsylvania nor the PUC may limit, alter or in any way impair or reduce the value of Intangible Transition Property orProperty