Common use of Servicing and Maintenance Standards Clause in Contracts

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Issuer: (a) manage, service, administer and make collections in respect of the Storm Recovery Property with reasonable care and in material compliance with applicable law and regulations, including all applicable LPSC Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets for its own account; (b) follow standards, policies and practices in performing its duties as Servicer that are customary in the electric transmission and distribution industry or that the LPSC has mandated and that are consistent with the terms and provisions of the Financing Order, tariffs and existing law; (c) use all reasonable efforts, consistent with the Servicer’s Policies and Practices, to enforce and maintain the Issuer’s and the Trustee’s rights in respect of the Storm Recovery Property; (d) calculate Storm Recovery Charges and the allocation of Storm Recovery Charges among Customer Classes in compliance with the Securitization Act, the Financing Order, any LPSC order related to the Storm Recovery Charge allocation and any applicable tariffs; (e) use all reasonable efforts consistent with the Servicer’s Policies and Practices to collect all amounts owed in respect of the Storm Recovery Property as they become due; (f) make all filings required under the Securitization Act or the applicable UCC to maintain the perfected security interest of the Trustee in the Storm Recovery Property and the other portions of the Trust Estate under the Indenture and use all reasonable efforts to otherwise enforce and maintain the Trustee’s rights in respect of the Storm Recovery Property and the other portions of the Trust Estate under the Indenture; (g) petition the LPSC for adjustments to the Storm Recovery Charges that the Servicer determines to be necessary in accordance with the Financing Order; and (h) keep on file, in accordance with customary procedures, all documents pertaining to the Storm Recovery Property and maintain accurate and complete accounts, records and computer systems pertaining to the related Storm Recovery Property except where the failure to comply with any of the foregoing would not materially and adversely affect the Issuer’s or the Trustee’s respective interests in the Storm Recovery Property. 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.

Appears in 4 contracts

Sources: Storm Recovery Property Servicing Agreement (Cleco Power LLC), Storm Recovery Property Servicing Agreement (Cleco Power LLC), Storm Recovery Property Servicing Agreement (Cleco Power LLC)

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Issuer: (a) manage, service, administer and make collections in respect of the Storm Recovery Energy Transition Property with reasonable care and in material compliance with applicable law and regulations, including all applicable LPSC Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets for its own account; (b) follow standards, policies and practices in performing its duties as Servicer that are customary in the electric transmission and distribution industry or that the LPSC has mandated and that are consistent with the terms and provisions of the Financing Order, tariffs Rate Schedules and existing law; (c) use all reasonable efforts, consistent with the Servicer’s Policies and Practices, to enforce and maintain the Issuer’s and the Trustee’s rights in respect of the Storm Recovery Energy Transition Property; (d) calculate Storm Recovery Energy Transition Charges and the allocation of Storm Recovery Energy Transition Charges among Customer Classes in compliance with the Securitization Act, the Financing Order, any LPSC order related to the Storm Recovery Energy Transition Charge allocation and any applicable tariffsrate schedules; (e) use all reasonable efforts consistent with the Servicer’s Policies and Practices to collect all amounts owed in respect of the Storm Recovery Energy Transition Property as they become due; (f) as required by the Intercreditor Agreement, provide all reports to the parties to the Intercreditor Agreement as are necessary to effect collection, allocation and remittance of payments in respect of Energy Transition Charges and other collected funds in accordance with this Agreement and the Intercreditor Agreement; (g) make all filings required under the Securitization Act or the applicable UCC to maintain the perfected security interest of the Trustee in the Storm Recovery Energy Transition Property and the other portions of the Trust Estate under the Indenture and use all reasonable efforts to otherwise enforce and maintain the Trustee’s rights in respect of the Storm Recovery Energy Transition Property and the other portions of the Trust Estate under the Indenture; (gh) petition the LPSC for adjustments to the Storm Recovery Energy Transition Charges that the Servicer determines to be necessary in accordance with the Financing Order; and (hi) keep on file, in accordance with customary procedures, all documents pertaining to the Storm Recovery Energy Transition Property and maintain accurate and complete accounts, records and computer systems pertaining to the related Storm Recovery Energy Transition Property except where the failure to comply with any of the foregoing would not materially and adversely affect the Issuer’s or the Trustee’s respective interests in the Storm Recovery Energy Transition Property. 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 Energy Transition Property, which, in the Servicer’s judgment, may include the taking of legal action pursuant to Section 5.02(d) hereof or otherwise.

Appears in 4 contracts

Sources: Energy Transition Property Servicing Agreement (Cleco Securitization II LLC), Energy Transition Property Servicing Agreement (Cleco Securitization II LLC), Energy Transition Property Servicing Agreement (Cleco Power LLC)

Servicing and Maintenance Standards. The Servicer shallwill monitor payments and impose collection policies on Customers, on as permitted under the Financing Order and the applicable Indiana Commission Regulations. On behalf of the Issuer, the Servicer shall: (a) manage, service, administer administer, bill, charge, collect, receive and make remit collections in respect of the Storm Recovery Securitization Property with reasonable care and in material compliance with applicable law and regulationsRequirements of Law, including all applicable LPSC Regulations and guidelinesIndiana Commission Regulations, using the same degree of care and diligence that the Servicer exercises with respect to similar assets for its own accountaccount and, if applicable, for others; (b) follow standards, policies and practices procedures in performing its duties as Servicer that are customary in the electric transmission and distribution industry or that the LPSC has mandated and that are consistent with the terms and provisions of the Financing Order, tariffs and existing lawindustry; (c) use all reasonable efforts, consistent with calculate the Servicer’s Policies and Practices, to enforce and maintain the Issuer’s and the Trustee’s rights in respect of the Storm Recovery Property; (d) calculate Storm Recovery Securitization Charges and the allocation of Storm Recovery Charges among Customer Classes in compliance with the Securitization Act, the Financing Order, any LPSC order related to the Storm Recovery Charge allocation Order and any applicable tariffs; (ed) use all reasonable efforts efforts, consistent with the Servicer’s Policies its customary servicing procedures, to enforce, and Practices to collect all amounts owed maintain rights in respect of, the Securitization Property and to impose, collect and receive the Securitization Charges; (e) comply with all Requirements of Law, including all applicable Indiana Commission Regulations, applicable to and binding on it relating to the Storm Recovery Property as they become dueSecuritization Property; (f) make file all filings reports with the Indiana Commission required under by the Securitization Act or the applicable UCC to maintain the perfected security interest of the Trustee in the Storm Recovery Property and the other portions of the Trust Estate under the Indenture and use all reasonable efforts to otherwise enforce and maintain the Trustee’s rights in respect of the Storm Recovery Property and the other portions of the Trust Estate under the IndentureFinancing Order; (g) petition the LPSC Indiana Commission for adjustments to the Storm Recovery Securitization Charges that the Servicer determines to be necessary in accordance with the Financing Order; (h) file and maintain the effectiveness of UCC financing statements filed with the Secretary of State of the State of Indiana with respect to the property transferred under the Sale Agreement; and (hi) keep take such other action on file, in accordance with customary procedures, all documents pertaining behalf of the Issuer to ensure that the Storm Recovery Property Lien of the Trustee on the Trust Estate remains perfected and maintain accurate and complete accounts, records and computer systems pertaining to the related Storm Recovery Property of first priority except where the failure to comply with any of the foregoing would not materially and adversely affect the Issuer’s or the Trustee’s respective interests in the Storm Recovery Securitization Property. 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 Securitization Property, which, in the Servicer’s judgment, may include the taking of legal action pursuant action, at the Issuer’s expense but subject to the priority of payments set forth in Section 5.02(d8.02(e) hereof or otherwiseof the Indenture.

Appears in 3 contracts

Sources: Securitization Property Servicing Agreement (SIGECO Securitization I, LLC), Securitization Property Servicing Agreement (SIGECO Securitization I, LLC), Securitization Property Servicing Agreement (SIGECO Securitization I, LLC)

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Issuer: (a) manage, service, administer and make collections in respect of the Storm Recovery Property with reasonable care and in material compliance with applicable law and regulations, including all applicable LPSC Regulations and guidelinesRegulations, using the same degree of care and diligence that the Servicer exercises with respect to similar assets for its own account; (b) follow standards, policies and practices in performing its duties as Servicer that are customary in the electric transmission and distribution industry or that the LPSC has mandated and that are consistent with the terms and provisions of the Financing Order, tariffs and existing law; (c) use all reasonable efforts, consistent with the Servicer’s Servicer Policies and Practices, to enforce and maintain the Issuer’s and the Indenture Trustee’s rights in respect of of, the Storm Recovery PropertyProperty and the other portions of the Trust Estate under the Indenture; (d) calculate Storm Recovery Charges and the allocation of Storm Recovery Charges among Customer Classes in compliance with the Securitization Act, the Financing Order, any LPSC order related to the Storm Recovery Charge allocation and any applicable tariffs; (e) use all reasonable efforts consistent with the Servicer’s Servicer Policies and Practices to collect all amounts owed in respect of the Storm Recovery Property as they become due; (f) make all filings required under the Securitization Act or the applicable UCC to maintain the perfected security interest of the Indenture Trustee in the Storm Recovery Property and the other portions of the Trust Estate under the Indenture and use all reasonable efforts to otherwise enforce and maintain the Trustee’s rights in respect of the Storm Recovery Property and the other portions of the Trust Estate under the Indenture; (g) petition the LPSC for adjustments to the Storm Recovery Charges that the Servicer determines to be necessary in accordance with the Financing Order; and (h) keep on file, in accordance with customary procedures, all documents pertaining to the Storm Recovery Property and maintain accurate and complete accounts, records and computer systems pertaining to the related Storm Recovery Property except where the failure to comply with any of the foregoing would not materially and adversely affect the Issuer’s or the Indenture Trustee’s respective interests in the Storm Recovery Property. 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.

Appears in 3 contracts

Sources: Storm Recovery Property Servicing Agreement (SWEPCO Storm Recovery Funding LLC), Storm Recovery Property Servicing Agreement (SWEPCO Storm Recovery Funding LLC), Storm Recovery Property Servicing Agreement (SWEPCO Storm Recovery Funding LLC)

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Issuer: (a) manage, service, administer and make collections in respect of the Storm Recovery Transition Property with reasonable care and in material compliance with applicable law and regulationslaw, including all applicable LPSC PUCT Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets billing and collection activities that the Servicer conducts for its own accountitself and others; (b) follow standards, policies and practices procedures in performing its duties as Servicer that are customary in the electric transmission and distribution industry or that the LPSC PUCT has mandated and that are consistent with the terms and provisions of the Financing Order, tariffs Schedule TC5 and existing law; (c) use all reasonable efforts, consistent with the Servicer’s Policies and Practicesits customary servicing procedures, to enforce and maintain the Issuer’s and the Trustee’s rights in respect of the Storm Recovery Transition Property; (d) calculate Storm Recovery Transition Charges and the allocation of Storm Recovery Charges among Customer Classes PBRAFs in compliance with the Securitization Public Utility Regulatory Act, the Financing Order, any LPSC PUCT order related to the Storm Recovery Transition Charge allocation and any applicable tariffs; (e) use provide all reasonable efforts consistent with reports to such parties to the Servicer’s Policies Intercreditor Agreement regarding the Transition Charges and Practices PBRAFs as are necessary to collect all amounts owed effect collection, allocation and remittance of payments in respect of Transition Charges and other collected funds in accordance with this Agreement and the Storm Recovery Property as they become due;Intercreditor Agreement; and (f) make all filings required under the Securitization Public Utility Regulatory Act or the applicable UCC to maintain the perfected security interest of the Trustee in the Storm Recovery Property and the other portions of the Trust Estate under the Indenture and use all reasonable efforts to otherwise enforce and maintain the Trustee’s rights in respect of the Storm Recovery Transition Property and the other portions of the Trust Estate under the Indenture; (g) petition the LPSC for adjustments to the Storm Recovery Charges that the Servicer determines to be necessary in accordance with the Financing Order; and (h) keep on fileEstate, in accordance with customary procedures, all documents pertaining to the Storm Recovery Property and maintain accurate and complete accounts, records and computer systems pertaining to the related Storm Recovery Property except where the failure to comply with any of the foregoing would not materially and adversely affect the Issuer’s or the Trustee’s respective interests in the Storm Recovery Transition Property. 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 Transition Property, which, in the Servicer’s judgment, may include the taking of legal action pursuant to Section 5.02(d) and 5.02(e) hereof or otherwise. The Servicer shall petition the PUCT for adjustments to the Transition Charges and PBRAF that the servicer determines to be necessary in accordance with the Financing Order.

Appears in 3 contracts

Sources: Transition Property Servicing Agreement, Transition Property Servicing Agreement (CenterPoint Energy Transition Bond Co IV, LLC), Transition Property Servicing Agreement (CenterPoint Energy Transition Bond Co IV, LLC)

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Issuer: (a) manage, service, administer and make collections in respect of the Storm Recovery Transition Property with reasonable care and in material compliance with applicable law and regulationslaw, including all applicable LPSC PUCT Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets billing and collection activities that the Servicer conducts for its own accountitself and others; (b) follow standards, policies and practices procedures in performing its duties as Servicer that are customary in the electric transmission and distribution industry or that the LPSC PUCT has mandated and that are consistent with the terms and provisions of the Financing Order, tariffs Schedule TC3 and existing law; (c) use all reasonable efforts, consistent with the Servicer’s Policies and Practicesits customary servicing procedures, to enforce and maintain the Issuer’s and the Trustee’s rights in respect of the Storm Recovery Transition Property; (d) calculate Storm Recovery Transition Charges and the allocation of Storm Recovery Charges among Customer Classes PBRAFs in compliance with the Securitization ActTexas Electric Choice Plan, the Financing Order, any LPSC PUCT order related to the Storm Recovery Transition Charge allocation and any applicable tariffs; (e) use provide all reasonable efforts consistent with reports to such parties to the Servicer’s Policies Intercreditor Agreement regarding the Transition Charges and Practices PBRAFs as are necessary to collect all amounts owed effect collection, allocation and remittance of payments in respect of Transition Charges and other collected funds in accordance with this Agreement and the Storm Recovery Property as they become due;Intercreditor Agreement; and (f) make all filings required under the Securitization Act Texas Electric Choice Plan or the applicable UCC to maintain the perfected security interest of the Trustee in the Storm Recovery Property and the other portions of the Trust Estate under the Indenture and use all reasonable efforts to otherwise enforce and maintain the Trustee’s rights in respect of the Storm Recovery Transition Property and the other portions of the Trust Estate under the Indenture; (g) petition the LPSC for adjustments to the Storm Recovery Charges that the Servicer determines to be necessary in accordance with the Financing Order; and (h) keep on file, in accordance with customary procedures, all documents pertaining to the Storm Recovery Property and maintain accurate and complete accounts, records and computer systems pertaining to the related Storm Recovery Property Estate. except where the failure to comply with any of the foregoing would not materially and adversely affect the Issuer’s or the Trustee’s respective interests in the Storm Recovery Transition Property. 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 Transition Property, which, in the Servicer’s judgment, may include the taking of legal action pursuant to Section 5.02(d) and 5.02(e) hereof or otherwise. The Servicer shall petition the PUCT for adjustments to the Transition Charges and PBRAF that the servicer determines to be necessary in accordance with the Financing Order.

Appears in 2 contracts

Sources: Transition Property Servicing Agreement (CenterPoint Energy Transition Bond CO III, LLC), Transition Property Servicing Agreement (Centerpoint Energy Houston Electric LLC)

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Issuer: (a) manage, service, administer and make collections in respect of the Storm Recovery System Restoration Property with reasonable care and in material compliance with applicable law and regulationslaw, including all applicable LPSC PUCT Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets billing and collection activities that the Servicer conducts for its own accountitself and others; (b) follow standards, policies and practices procedures in performing its duties as Servicer that are customary in the electric transmission and distribution industry or that the LPSC PUCT has mandated and that are consistent with the terms and provisions of the Financing Order, tariffs Schedule SRC and existing law; (c) use all reasonable efforts, consistent with the Servicer’s Policies and Practicesits customary servicing procedures, to enforce and maintain the Issuer’s and the Trustee’s rights in respect of the Storm Recovery System Restoration Property; (d) calculate Storm Recovery System Restoration Charges and the allocation of Storm Recovery Charges among Customer Classes PBRAFs in compliance with the Securitization Public Utility Regulatory Act, the Financing Order, any LPSC PUCT order related to the Storm Recovery System Restoration Charge allocation and any applicable tariffs; (e) use provide all reasonable efforts consistent with reports to such parties to the Servicer’s Policies Intercreditor Agreement regarding the System Restoration Charges and Practices PBRAFs as are necessary to collect all amounts owed effect collection, allocation and remittance of payments in respect of System Restoration Charges and other collected funds in accordance with this Agreement and the Storm Recovery Property as they become due;Intercreditor Agreement; and (f) make all filings required under the Securitization Public Utility Regulatory Act or the applicable UCC to maintain the perfected security interest of the Trustee in the Storm Recovery Property and the other portions of the Trust Estate under the Indenture and use all reasonable efforts to otherwise enforce and maintain the Trustee’s rights in respect of the Storm Recovery System Restoration Property and the other portions of the Trust Estate under the Indenture; (g) petition the LPSC for adjustments to the Storm Recovery Charges that the Servicer determines to be necessary in accordance with the Financing Order; and (h) keep on fileEstate, in accordance with customary procedures, all documents pertaining to the Storm Recovery Property and maintain accurate and complete accounts, records and computer systems pertaining to the related Storm Recovery Property except where the failure to comply with any of the foregoing would not materially and adversely affect the Issuer’s or the Trustee’s respective interests in the Storm Recovery System Restoration Property. 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 System Restoration Property, which, in the Servicer’s judgment, may include the taking of legal action pursuant to Section 5.02(d) and 5.02(e) hereof or otherwise. The Servicer shall petition the PUCT for adjustments to the System Restoration Charges and PBRAF that the servicer determines to be necessary in accordance with the Financing Order.

Appears in 2 contracts

Sources: System Restoration Property Servicing Agreement (CenterPoint Energy Restoration Bond Company, LLC), System Restoration Property Servicing Agreement (CenterPoint Energy Restoration Bond Company, LLC)

Servicing and Maintenance Standards. The Servicer shall, on On behalf of the Issuer: Grantee, the Servicer shall (ai) manage, service, administer and make collections in respect of the Storm Recovery Intangible Transition Property with reasonable care and in material compliance accordance with the Servicing Standard and applicable law and regulationslaw, including all applicable LPSC ICC Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets for its own account; account and, if applicable, for others; (bii) follow customary standards, policies and practices procedures for the industry in performing its duties as Servicer that are customary in the electric transmission and distribution industry or that the LPSC has mandated and that are consistent with the terms and provisions of the Financing Order, tariffs and existing law; Servicer; (ciii) use all reasonable efforts, consistent with the Servicer’s Policies and Practicesits customary servicing procedures, to enforce enforce, and maintain the Issuer’s and the Trustee’s rights in respect of the Storm Recovery Property; (d) calculate Storm Recovery Charges and the allocation of Storm Recovery Charges among Customer Classes in compliance with the Securitization Actof, the Financing Order, any LPSC order related Intangible Transition Property; (iv) comply with all laws and regulations applicable to and binding on it relating to the Storm Recovery Charge allocation and any applicable tariffs; Intangible Transition Property, (e) use all reasonable efforts consistent with the Servicer’s Policies and Practices to collect all amounts owed in respect of the Storm Recovery Property as they become due; (fv) make all filings required under the Securitization Act or the applicable UCC to maintain the perfected security interest of the Trustee in the Storm Recovery Property submissions and the other portions of the Trust Estate under the Indenture and use provide all reasonable efforts to otherwise enforce and maintain the Trustee’s rights in respect of the Storm Recovery Property and the other portions of the Trust Estate under the Indenture; (g) petition the LPSC for adjustments required notifications to the Storm Recovery Charges that ICC with respect to any Adjustments, and (vi) maintain facilities sufficient to enable the Servicer determines to be necessary in accordance with post IFC Payments to customer accounts within two Servicer Business Days of receipt of payment by the Financing Order; and (h) keep on fileServicer, in accordance with customary proceduresAnnex I hereto. The Servicer shall be responsible for the imposition, collection and remittance of IFCs in accordance with Annex I hereto, the inclusion of IFCs in all Bills, and the deduction of IFCs from tariffed charges and all other charges from which the IFCs are to be deducted and stated separately, including, without limitation, all documents pertaining charges under any contracts with Customers who would, but for such contract, be paying Applicable Rates, where such contract provides that the Customer will pay an amount each billing period to the Storm Recovery Property and maintain accurate and complete accountsGrantee or the Note Issuer, records and computer systems pertaining or to the related Storm Recovery Property except where Servicer, equal to the failure amount of IFCs that would have been billed if the services provided under such contract were subject to comply with any of the foregoing would not materially and adversely affect the Issuer’s or the Trustee’s respective interests in the Storm Recovery PropertyApplicable Rates. 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 Intangible Transition Property, which, in the Servicer’s 's judgment, may include the taking of legal action. Without limiting the foregoing, if the Servicer determines at any time that the aggregate dollar amount of IFCs to be imposed is reasonably likely to exceed the maximum dollar amount of Intangible Transition Property authorized by the 1998 Transitional Funding Order and any Subsequent Funding Orders to be imposed and collected and any Notes remain outstanding, the Servicer shall make a good faith effort to take any and all subsequent regulatory action pursuant with the ICC to Section 5.02(d) hereof or otherwiseobtain an order expressly authorizing a larger dollar amount of Intangible Transition Property in an amount sufficient to pay such Notes in full.

Appears in 1 contract

Sources: Intangible Transition Property Servicing Agreement (Illinois Power Securitization Limited Liability Co)

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Issuer: (a) manage, service, administer and make collections in respect of the Storm Recovery Transition Property with reasonable care and in material compliance with applicable law and regulationslaw, including without limitation all applicable LPSC PUCT Regulations and guidelines, using the same highest degree of care and diligence that the Servicer exercises with respect to similar assets billing and collection activities that the Servicer conducts for its own accountitself and others; (b) follow standards, policies and practices procedures in performing its duties as Servicer that are customary in the electric transmission and distribution industry or that the LPSC PUCT has mandated and that are consistent with the terms and provisions of the Financing Order, tariffs Tariff TC and existing law; (c) use all reasonable efforts, consistent with the Servicer’s Policies and Practices, efforts to enforce and maintain the Issuer’s 's and the Trustee’s 's rights in respect of the Storm Recovery Transition Property; (d) calculate Storm Recovery Transition Charges and the allocation of Storm Recovery Charges among Customer Classes RAAFs in compliance with the Securitization ActTexas Electric Choice Plan, the Financing Order, any LPSC PUCT order related to the Storm Recovery Transition Charge allocation and any applicable tariffs; (e) use provide all reasonable efforts consistent with reports to such parties to the Servicer’s Policies Intercreditor Agreement regarding the Transition Charges and Practices RAAFs as are necessary to collect all amounts owed effect collection, allocation and remittance of payments in respect of Transition Charges and other collected funds in accordance with this Agreement and the Storm Recovery Property as they become due;Intercreditor Agreement; and (f) make all filings required under the Securitization Act Texas Electric Choice Plan or the applicable UCC to maintain the perfected security interest of the Trustee in the Storm Recovery Property and the other portions of the Trust Estate under the Indenture and use all reasonable efforts to otherwise enforce and maintain the Trustee’s 's rights in respect of the Storm Recovery Transition Property and the other portions of the Trust Estate under the Indenture; (g) petition the LPSC for adjustments to the Storm Recovery Charges that the Servicer determines to be necessary in accordance with the Financing OrderEstate; and (h) keep on file, in accordance with customary procedures, all documents pertaining to the Storm Recovery Property and maintain accurate and complete accounts, records and computer systems pertaining to the related Storm Recovery Property except where the failure to comply with any of the foregoing would not materially and adversely affect the Issuer’s 's or the Trustee’s respective interests 's interest in the Storm Recovery Transition Property. 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 Transition Property, which, in the Servicer’s 's judgment, may include the taking of legal action pursuant to Section 5.02(d) 3.10 hereof or otherwise.

Appears in 1 contract

Sources: Transition Property Servicing Agreement (Reliant Energy Transition Bond Co LLC)

Servicing and Maintenance Standards. The Servicer shall, on On behalf of the Issuer: Grantee, the Servicer shall (a) manage, service, administer and make collections in respect of the Storm Recovery Intangible Transition Property with reasonable care and in material compliance accordance with the Servicing Standard and applicable law and regulationslaw, including all applicable LPSC ICC Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets for its own account; account and, if applicable, for others; (b) follow customary standards, policies and practices procedures for the industry in performing its duties as Servicer that are customary in the electric transmission and distribution industry or that the LPSC has mandated and that are consistent with the terms and provisions of the Financing Order, tariffs and existing law; Servicer; (c) use all reasonable efforts, consistent with the Servicer’s Policies and Practicesits customary servicing procedures, to enforce enforce, and maintain the Issuer’s and the Trustee’s rights in respect of of, the Storm Recovery Intangible Transition Property; ; (d) calculate Storm Recovery Charges comply with all laws and the allocation of Storm Recovery Charges among Customer Classes in compliance with the Securitization Act, the Financing Order, any LPSC order related regulations applicable to and binding on it relating to the Storm Recovery Charge allocation Intangible Transition Property, and any applicable tariffs; (e) use all reasonable efforts consistent with the Servicer’s Policies and Practices to collect all amounts owed in respect of the Storm Recovery Property as they become due; (f) make all filings required under the Securitization Act or the applicable UCC to maintain the perfected security interest of the Trustee in the Storm Recovery Property submissions and the other portions of the Trust Estate under the Indenture and use provide all reasonable efforts to otherwise enforce and maintain the Trustee’s rights in respect of the Storm Recovery Property and the other portions of the Trust Estate under the Indenture; (g) petition the LPSC for adjustments required notifications to the Storm Recovery Charges that ICC with respect to any Adjustments. The Servicer shall be responsible for the Servicer determines to be necessary imposition, collection and remittance of IFCs in accordance with Annex I hereto, the Financing Order; and (h) keep on fileinclusion of IFCs in all Bills, in accordance with customary proceduresand the deduction of IFCs from tariffed charges and all other charges from which the IFCs are to be deducted and stated separately, including, without limitation, all documents pertaining to the Storm Recovery Property and maintain accurate and complete accountscharges under any contracts with Customers who would, records and computer systems pertaining to the related Storm Recovery Property except where the failure to comply with any of the foregoing would not materially and adversely affect the Issuer’s or the Trustee’s respective interests in the Storm Recovery Propertybut for such contract, be paying Applicable Rates. 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 Intangible Transition Property, which, in the Servicer’s 's judgment, may include the taking of legal action. Without limiting the foregoing, if the Servicer determines at any time that the aggregate dollar amount of IFC Charges to be imposed is reasonably likely to exceed the maximum dollar amount of Intangible Transition Property authorized by the 1998 Transitional Funding Order and any Subsequent Funding Orders to be imposed and collected and any Notes remain outstanding, the Servicer shall make a good faith effort to take any and all subsequent regulatory action pursuant with the ICC to Section 5.02(d) hereof or otherwiseobtain an order permitting the creation of additional Intangible Transition Property in an amount sufficient to pay such Notes in full.

Appears in 1 contract

Sources: Servicing Agreement (Comed Funding LLC)

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Issuer: (a) manage, service, administer and make collections in respect of the Storm Recovery Transition Property with reasonable care and in material compliance with applicable law and regulationslaw, including without limitation all applicable LPSC PUCT Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets billing and collection activities that the Servicer conducts for its own accountitself and others; (b) follow standards, policies and practices procedures in performing its duties as Servicer that are customary in the electric transmission and distribution industry or that the LPSC PUCT has mandated and that are consistent with the terms and provisions of the Financing Order, tariffs Schedule TC2 and existing law; (c) use all reasonable efforts, consistent with the Servicer’s Policies and Practicesits customary servicing procedures, to enforce and maintain the Issuer’s 's and the Trustee’s 's rights in respect of the Storm Recovery Transition Property; (d) calculate Storm Recovery Transition Charges and the allocation of Storm Recovery Charges among Customer Classes PBRAFs in compliance with the Securitization ActTexas Electric Choice Plan, the Financing Order, any LPSC PUCT order related to the Storm Recovery Transition Charge allocation and any applicable tariffs; (e) use provide all reasonable efforts consistent with reports to such parties to the Servicer’s Policies Intercreditor Agreement regarding the Transition Charges and Practices PBRAFs as are necessary to collect all amounts owed effect collection, allocation and remittance of payments in respect of Transition Charges and other collected funds in accordance with this Agreement and the Storm Recovery Property as they become due;Intercreditor Agreement; and (f) make all filings required under the Securitization Act Texas Electric Choice Plan or the applicable UCC to maintain the perfected security interest of the Trustee in the Storm Recovery Property and the other portions of the Series Trust Estate under the Indenture and use all reasonable efforts to otherwise enforce and maintain the Trustee’s 's rights in respect of the Storm Recovery Transition Property and the other portions of the Series Trust Estate under the Indenture; (g) petition the LPSC for adjustments to the Storm Recovery Charges that the Servicer determines to be necessary in accordance with the Financing OrderEstate; and (h) keep on file, in accordance with customary procedures, all documents pertaining to the Storm Recovery Property and maintain accurate and complete accounts, records and computer systems pertaining to the related Storm Recovery Property except where the failure to comply with any of the foregoing would not materially and adversely affect the Issuer’s 's or the Trustee’s 's respective interests in the Storm Recovery Transition Property. 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 Transition Property, which, in the Servicer’s 's judgment, may include the taking of legal action pursuant to Section 5.02(d) 3.10 hereof or otherwise.

Appears in 1 contract

Sources: Transition Property Servicing Agreement (CenterPoint Energy Transition Bond CO II, LLC)

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Issuer: (a) manage, service, administer and make collections in respect of the Storm Recovery Property with reasonable care and in material compliance with applicable law and regulations, including all applicable LPSC Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets for its own account; (b) follow standards, policies and practices in performing its duties as Servicer that are customary in the electric transmission and distribution industry or that the LPSC has mandated and that are consistent with the terms and provisions of the Financing Order, tariffs and existing law; (c) use all reasonable efforts, consistent with the Servicer’s 's Policies and Practices, to enforce and maintain the Issuer’s 's and the Trustee’s 's rights in respect of the Storm Recovery Property; (d) calculate Storm Recovery Charges and the allocation of Storm Recovery Charges among Customer Classes customer classes in compliance with the Securitization Act, the Financing Order, any LPSC order related to the Storm Recovery Charge allocation and any applicable tariffs; (e) use all reasonable efforts consistent with the Servicer’s 's Policies and Practices to collect all amounts owed in respect of the Storm Recovery Property as they become due; (f) make all filings required under the Securitization Act or the applicable UCC to maintain the perfected security interest of the Trustee in the Storm Recovery Property and the other portions of the Series Trust Estate under the Indenture and use all reasonable efforts to otherwise enforce and maintain the Trustee’s 's rights in respect of the Storm Recovery Property and the other portions of the Series Trust Estate under the Indenture; (g) petition the LPSC for adjustments to the Storm Recovery Charges that the Servicer determines to be necessary in accordance with the Financing Order; and (h) keep on file, in accordance with customary procedures, all documents pertaining to the Storm Recovery Property and maintain accurate and complete accounts, records and computer systems pertaining to the related Storm Recovery Property except where the failure to comply with any of the foregoing would not materially and adversely affect the Issuer’s or the Trustee’s respective interests in the Storm Recovery Property. 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.

Appears in 1 contract

Sources: Storm Recovery Property Servicing Agreement (Cleco Katrina/Rita Hurricane Recovery Funding LLC)

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Issuer: (a) manage, service, administer and make collections in respect of the Storm Recovery Transition Property with reasonable care and in material compliance with applicable law and regulationslaw, including all applicable LPSC PUCT Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets billing and collection activities that the Servicer conducts for its own accountitself and others; (b) follow standards, policies and practices procedures in performing its duties as Servicer that are customary in the electric transmission and distribution industry or that the LPSC PUCT has mandated and that are consistent with the terms and provisions of the Financing Order, tariffs Schedule TC2 and existing law; (c) use all reasonable efforts, consistent with the Servicer’s Policies and Practicesits customary servicing procedures, to enforce and maintain the Issuer’s 's and the Trustee’s 's rights in respect of the Storm Recovery Transition Property; (d) calculate Storm Recovery Transition Charges and the allocation of Storm Recovery Charges among Customer Classes PBRAFs in compliance with the Securitization ActTexas Electric Choice Plan, the Financing Order, any LPSC PUCT order related to the Storm Recovery Transition Charge allocation and any applicable tariffs; (e) use provide all reasonable efforts consistent with reports to such parties to the Servicer’s Policies Intercreditor Agreement regarding the Transition Charges and Practices PBRAFs as are necessary to collect all amounts owed effect collection, allocation and remittance of payments in respect of Transition Charges and other collected funds in accordance with this Agreement and the Storm Recovery Property as they become due;Intercreditor Agreement; and (f) make all filings required under the Securitization Act Texas Electric Choice Plan or the applicable UCC to maintain the perfected security interest of the Trustee in the Storm Recovery Property and the other portions of the Series Trust Estate under the Indenture and use all reasonable efforts to otherwise enforce and maintain the Trustee’s 's rights in respect of the Storm Recovery Transition Property and the other portions of the Series Trust Estate under the Indenture; (g) petition the LPSC for adjustments to the Storm Recovery Charges that the Servicer determines to be necessary in accordance with the Financing OrderEstate; and (h) keep on file, in accordance with customary procedures, all documents pertaining to the Storm Recovery Property and maintain accurate and complete accounts, records and computer systems pertaining to the related Storm Recovery Property except where the failure to comply with any of the foregoing would not materially and adversely affect the Issuer’s 's or the Trustee’s 's respective interests in the Storm Recovery Transition Property. 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 Transition Property, which, in the Servicer’s 's judgment, may include the taking of legal action pursuant to Section 5.02(d) 3.10 hereof or otherwise.

Appears in 1 contract

Sources: Transition Property Servicing Agreement (CenterPoint Energy Transition Bond CO II, LLC)

Servicing and Maintenance Standards. The Servicer shall, on On behalf of the Issuer: Grantee, the Servicer shall (ai) manage, service, administer and make collections in respect of the Storm Recovery Intangible Transition Property with reasonable care and in material compliance accordance with the Servicing Standard and applicable law and regulationslaw, including all applicable LPSC ICC Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets for its own account; account and, if applicable, for others; (bii) follow customary standards, policies and practices procedures for the industry in performing its duties as Servicer that are customary in the electric transmission and distribution industry or that the LPSC has mandated and that are consistent with the terms and provisions of the Financing Order, tariffs and existing law; Servicer; (ciii) use all reasonable efforts, consistent with the Servicer’s Policies and Practicesits customary servicing procedures, to enforce enforce, and maintain the Issuer’s and the Trustee’s rights in respect of the Storm Recovery Property; (d) calculate Storm Recovery Charges and the allocation of Storm Recovery Charges among Customer Classes in compliance with the Securitization Actof, the Financing Order, any LPSC order related Intangible Transition Property; (iv) comply with all laws and regulations applicable to and binding on it relating to the Storm Recovery Charge allocation and any applicable tariffs; Intangible Transition Property, (e) use all reasonable efforts consistent with the Servicer’s Policies and Practices to collect all amounts owed in respect of the Storm Recovery Property as they become due; (fv) make all filings required under the Securitization Act or the applicable UCC to maintain the perfected security interest of the Trustee in the Storm Recovery Property submissions and the other portions of the Trust Estate under the Indenture and use provide all reasonable efforts to otherwise enforce and maintain the Trustee’s rights in respect of the Storm Recovery Property and the other portions of the Trust Estate under the Indenture; (g) petition the LPSC for adjustments required notifications to the Storm Recovery Charges that ICC with respect to any Adjustments, and (vi) maintain facilities sufficient to enable the servicer to post IFC Payments to customer accounts within two Servicer determines to be necessary in accordance with Business Days of receipt of payment by the Financing Order; and (h) keep on fileServicer, in accordance with customary proceduresAnnex I hereto. The Servicer shall be responsible for the imposition, collection and remittance of IFCs in accordance with Annex I hereto, the inclusion of IFCs in all Bills, and the deduction of IFCs from tariffed charges and all other charges from which the IFCs are to be deducted and stated separately, including, without limitation, all documents pertaining charges under any contracts with Customers who would, but for such contract, be paying Applicable Rates, where such contract provides that the Customer will pay an amount each billing period to the Storm Recovery Property and maintain accurate and complete accountsGrantee or the Note Issuer, records and computer systems pertaining or to the related Storm Recovery Property except where Servicer, equal to the failure amount of IFCs that would have been billed if the services provided under such contract were subject to comply with any of the foregoing would not materially and adversely affect the Issuer’s or the Trustee’s respective interests in the Storm Recovery PropertyApplicable Rates. 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 ofthe Intangible Transition Property, which, in the Servicer’s 's judgment, may include the taking of legal action. Without limiting the foregoing, if the Servicer determines at any time that the aggregate dollar amount of IFCs to be imposed is reasonably likely to exceed the maximum dollar amount of Intangible Transition Property authorized by the 1998 Transitional Funding Order and any Subsequent Funding Orders to be imposed and collected and any Notes remain outstanding, the Servicer shall make a good faith effort to take any and all subsequent regulatory action pursuant with the ICC to Section 5.02(d) hereof or otherwiseobtain an order expressly authorizing a larger dollar amount of Intangible Transition Property in an amount sufficient to pay such Notes in full.

Appears in 1 contract

Sources: Servicing Agreement (Illinois Power Securitization Limited Liability Co)

Servicing and Maintenance Standards. The Servicer shall, on On behalf of the Issuer: Grantee, the Servicer shall (ai) manage, service, administer and make collections in respect of the Storm Recovery Intangible Transition Property with reasonable care and in material compliance accordance with the Servicing Standard and applicable law and regulationslaw, including all applicable LPSC ICC Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets for its own account; account and, if applicable, for others; (bii) follow customary standards, policies and practices procedures for the industry in performing its duties as Servicer that are customary in the electric transmission and distribution industry or that the LPSC has mandated and that are consistent with the terms and provisions of the Financing Order, tariffs and existing law; Servicer; (ciii) use all reasonable efforts, consistent with the Servicer’s Policies and Practicesits customary servicing procedures, to enforce enforce, and maintain the Issuer’s and the Trustee’s rights in respect of the Storm Recovery Property; (d) calculate Storm Recovery Charges and the allocation of Storm Recovery Charges among Customer Classes in compliance with the Securitization Actof, the Financing Order, any LPSC order related Intangible Transition Property; (iv) comply with all laws and regulations applicable to and binding on it relating to the Storm Recovery Charge allocation Intangible Transition Property, and any applicable tariffs; (e) use all reasonable efforts consistent with the Servicer’s Policies and Practices to collect all amounts owed in respect of the Storm Recovery Property as they become due; (fv) make all filings required under the Securitization Act or the applicable UCC to maintain the perfected security interest of the Trustee in the Storm Recovery Property submissions and the other portions of the Trust Estate under the Indenture and use provide all reasonable efforts to otherwise enforce and maintain the Trustee’s rights in respect of the Storm Recovery Property and the other portions of the Trust Estate under the Indenture; (g) petition the LPSC for adjustments required notifications to the Storm Recovery Charges that ICC with respect to any Adjustments. The Servicer shall be responsible for the Servicer determines to be necessary imposition, collection and remittance of IFCs in accordance with Annex I hereto, the Financing Order; and (h) keep on fileinclusion of IFCs in all Bills, in accordance with customary proceduresand the deduction of IFCs from tariffed charges and all other charges from which the IFCs are to be deducted and stated separately, including, without limitation, all documents pertaining to the Storm Recovery Property and maintain accurate and complete accountscharges under any contracts with Customers who would, records and computer systems pertaining to the related Storm Recovery Property except where the failure to comply with any of the foregoing would not materially and adversely affect the Issuer’s or the Trustee’s respective interests in the Storm Recovery Propertybut for such contract, be paying Applicable Rates. 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 Intangible Transition Property, which, in the Servicer’s 's judgment, may include the taking of legal action. Without limiting the foregoing, if the Servicer determines at any time that the aggregate dollar amount of IFCS to be imposed is reasonably likely to exceed the maximum dollar amount of Intangible Transition Property authorized by the 1998 Transitional Funding Order and any Subsequent Funding Orders to be imposed and collected and any Notes remain outstanding, the Servicer shall make a good faith effort to take any and all subsequent regulatory action pursuant with the ICC to Section 5.02(d) hereof or otherwiseobtain an order expressly authorizing a larger dollar amount of Intangible Transition Property in an amount sufficient to pay such Notes in full.

Appears in 1 contract

Sources: Servicing Agreement (Comed Funding LLC)

Servicing and Maintenance Standards. The Servicer shall, on On behalf of the Issuer: Grantee, the Servicer shall (ai) manage, service, administer and make collections in respect of the Storm Recovery Intangible Transition Property with reasonable care and in material compliance accordance with the Servicing Standard and applicable law and regulationslaw, including all applicable LPSC ICC Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets for its own account; account and, if applicable, for others; (bii) follow customary standards, policies and practices procedures for the industry in performing its duties as Servicer that are customary in the electric transmission and distribution industry or that the LPSC has mandated and that are consistent with the terms and provisions of the Financing Order, tariffs and existing law; Servicer; (ciii) use all reasonable efforts, consistent with the Servicer’s Policies and Practicesits customary servicing procedures, to enforce enforce, and maintain the Issuer’s and the Trustee’s rights in respect of the Storm Recovery Property; (d) calculate Storm Recovery Charges and the allocation of Storm Recovery Charges among Customer Classes in compliance with the Securitization Actof, the Financing Order, any LPSC order related Intangible Transition Property; (iv) comply with all laws and regulations applicable to and binding on it relating to the Storm Recovery Charge allocation Intangible Transition Property, and any applicable tariffs; (e) use all reasonable efforts consistent with the Servicer’s Policies and Practices to collect all amounts owed in respect of the Storm Recovery Property as they become due; (fv) make all filings required under the Securitization Act or the applicable UCC to maintain the perfected security interest of the Trustee in the Storm Recovery Property submissions and the other portions of the Trust Estate under the Indenture and use provide all reasonable efforts to otherwise enforce and maintain the Trustee’s rights in respect of the Storm Recovery Property and the other portions of the Trust Estate under the Indenture; (g) petition the LPSC for adjustments required notifications to the Storm Recovery Charges that ICC with respect to any Adjustments. The Servicer shall be responsible for the Servicer determines to be necessary imposition, collection and remittance of IFCs in accordance with Annex I hereto, the Financing Order; and (h) keep on fileinclusion of IFCs in all Bills, in accordance with customary proceduresand the deduction of IFCs from tariffed charges and all other charges from which the IFCs are to be deducted and stated separately, including, without limitation, all documents pertaining to the Storm Recovery Property and maintain accurate and complete accountscharges under any contracts with Customers who would, records and computer systems pertaining to the related Storm Recovery Property except where the failure to comply with any of the foregoing would not materially and adversely affect the Issuer’s or the Trustee’s respective interests in the Storm Recovery Propertybut for such contract, be paying Applicable Rates. 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 Intangible Transition Property, which, in the Servicer’s 's judgment, may include the taking of legal action. Without limiting the foregoing, if the Servicer determines at any time that the aggregate dollar amount of IFCs to be imposed is reasonably likely to exceed the maximum dollar amount of Intangible Transition Property authorized by the 1998 Transitional Funding Order and any Subsequent Funding Orders to be imposed and collected and any Notes remain outstanding, the Servicer shall make a good faith effort to take any and all subsequent regulatory action pursuant with the ICC to Section 5.02(d) hereof or otherwiseobtain an order expressly authorizing a larger dollar amount of Intangible Transition Property in an amount sufficient to pay such Notes in full.

Appears in 1 contract

Sources: Intangible Transition Property Servicing Agreement (Comed Funding LLC)

Servicing and Maintenance Standards. The Servicer shall, on On behalf of the Issuer: Grantee, the Servicer shall (a) manage, service, administer and make collections in respect of the Storm Recovery Intangible Transition Property with reasonable care and in material compliance accordance with the Servicing Standard and applicable law and regulationslaw, including all applicable LPSC ICC Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets for its own account; account and, if applicable, for others; (b) follow customary standards, policies and practices procedures for the industry in performing its duties as Servicer that are customary in the electric transmission and distribution industry or that the LPSC has mandated and that are consistent with the terms and provisions of the Financing Order, tariffs and existing law; Servicer; (c) use all reasonable efforts, consistent with the Servicer’s Policies and Practicesits customary servicing procedures, to enforce enforce, and maintain the Issuer’s and the Trustee’s rights in respect of of, the Storm Recovery Intangible Transition Property; ; (d) calculate Storm Recovery Charges comply with all laws and the allocation of Storm Recovery Charges among Customer Classes in compliance with the Securitization Act, the Financing Order, any LPSC order related regulations applicable to and binding on it relating to the Storm Recovery Charge allocation Intangible Transition Property, and any applicable tariffs; (e) use all reasonable efforts consistent with the Servicer’s Policies and Practices to collect all amounts owed in respect of the Storm Recovery Property as they become due; (f) make all filings required under the Securitization Act or the applicable UCC to maintain the perfected security interest of the Trustee in the Storm Recovery Property submissions and the other portions of the Trust Estate under the Indenture and use provide all reasonable efforts to otherwise enforce and maintain the Trustee’s rights in respect of the Storm Recovery Property and the other portions of the Trust Estate under the Indenture; (g) petition the LPSC for adjustments required notifications to the Storm Recovery Charges that ICC with respect to any Adjustments. The Servicer shall be responsible for the Servicer determines to be necessary imposition, collection and remittance of IFCs in accordance with Annex I hereto, the Financing Order; and (h) keep on fileinclusion of IFCs in all Bills, in accordance with customary proceduresand the deduction of IFCs from tariffed charges and all other charges from which the IFCs are to be deducted and stated separately, including, without limitation, all documents pertaining charges under any contracts with Customers who would, but for such contract, be paying Applicable Rates, where such contract provides that the Customer will pay an amount each billing period to the Storm Recovery Property and maintain accurate and complete accountsGrantee or its assignee, records and computer systems pertaining or to the related Storm Recovery Property except where Servicer, equal to the failure amount of IFCs that would have been billed if the services provided under such contract were subject to comply with any of the foregoing would not materially and adversely affect the Issuer’s or the Trustee’s respective interests in the Storm Recovery PropertyApplicable Rates. 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 Intangible Transition Property, which, in the Servicer’s 's judgment, may include the taking of legal action. Without limiting the foregoing, if the Servicer determines at any time that the aggregate dollar amount of IFC Charges to be imposed is reasonably likely to exceed the maximum dollar amount of Intangible Transition Property authorized by the 1998 Transitional Funding Order and any Subsequent Funding Orders to be imposed and collected and any Notes remain outstanding, the Servicer shall make a good faith effort to take any and all subsequent regulatory action pursuant with the ICC to Section 5.02(d) hereof or otherwiseobtain an order permitting the creation of additional Intangible Transition Property in an amount sufficient to pay such Notes in full.

Appears in 1 contract

Sources: Servicing Agreement (Illinois Power Securitization Limited Liability Co)

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Issuer: (a) manage, service, administer and make collections in respect of the Storm Recovery Property with reasonable care and in material compliance with applicable law and regulations, including all applicable LPSC Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets for its own account; (b) follow standards, policies and practices in performing its duties as Servicer that are customary in the electric transmission and distribution industry or that the LPSC has mandated and that are consistent with the terms and provisions of the Financing Order, tariffs and existing law; (c) use all reasonable efforts, consistent with the Servicer’s Policies and Practices, to enforce and maintain the Issuer’s and the Trustee’s rights in respect of the Storm Recovery Property; (d) calculate Storm Recovery Charges and the allocation of Storm Recovery Charges among Customer Classes customer classes in compliance with the Securitization Act, the Financing Order, any LPSC order related to the Storm Recovery Charge allocation and any applicable tariffs; (e) use all reasonable efforts consistent with the Servicer’s Policies and Practices to collect all amounts owed in respect of the Storm Recovery Property as they become due; (f) make all filings required under the Securitization Act or the applicable UCC to maintain the perfected security interest of the Trustee in the Storm Recovery Property and the other portions of the Series Trust Estate under the Indenture and use all reasonable efforts to otherwise enforce and maintain the Trustee’s rights in respect of the Storm Recovery Property and the other portions of the Series Trust Estate under the Indenture; (g) petition the LPSC for adjustments to the Storm Recovery Charges that the Servicer determines to be necessary in accordance with the Financing Order; and (h) keep on file, in accordance with customary procedures, all documents pertaining to the Storm Recovery Property and maintain accurate and complete accounts, records and computer systems pertaining to the related Storm Recovery Property except where the failure to comply with any of the foregoing would not materially and adversely affect the Issuer’s or the Trustee’s respective interests in the Storm Recovery Property. 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(c) or 5.02(d) hereof or otherwise.

Appears in 1 contract

Sources: Storm Recovery Property Servicing Agreement (Cleco Katrina/Rita Hurricane Recovery Funding LLC)

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Issuer: (a) manage, service, administer and make collections in respect of the Storm Recovery Property Transition Charges with reasonable care and in material compliance with applicable law and regulationslaw, including all applicable LPSC PUCT Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets billing and collection activities that the Servicer conducts for its own accountitself and others; (b) follow standards, policies and practices procedures in performing its duties as Servicer that are customary in the electric transmission and distribution industry or that the LPSC PUCT has mandated and that are consistent with the terms and provisions of the Financing Order, tariffs Tariff TC and existing law; (c) use all reasonable efforts, consistent with the Servicer’s Policies and Practicesits customary servicing procedures, to enforce and maintain the Issuer’s 's and the Trustee’s 's rights in respect of the Storm Recovery Transition Property; (d) calculate Storm Recovery Transition Charges and the allocation of Storm Recovery Charges among Customer Classes RAAFs in compliance with the Securitization ActTexas Electric Choice Plan, the Financing Order, any LPSC PUCT order related to the Storm Recovery Transition Charge allocation and any applicable tariffs; (e) use provide all reasonable efforts consistent with reports to such parties to the Servicer’s Policies Intercreditor Agreement regarding the Transition Charges and Practices RAAFs as are necessary to collect all amounts owed effect collection, allocation and remittance of payments in respect of Transition Charges and other collected funds in accordance with this Agreement and the Storm Recovery Property as they become due;Intercreditor Agreement; and (f) make all filings file continuation statements required under the Securitization Act Texas Electric Choice Plan or the applicable UCC to maintain the perfected security interest of the Trustee in the Storm Recovery Property and the other portions of the Trust Estate under the Indenture and use all reasonable efforts to otherwise enforce and maintain the Trustee’s 's rights in respect of the Storm Recovery Transition Property and the other portions of the Trust Estate under the Indenture; (g) petition the LPSC for adjustments to the Storm Recovery Charges that the Servicer determines to be necessary in accordance with the Financing OrderEstate; and (h) keep on file, in accordance with customary procedures, all documents pertaining to the Storm Recovery Property and maintain accurate and complete accounts, records and computer systems pertaining to the related Storm Recovery Property except where the failure to comply with any of the foregoing would not materially and adversely affect the Issuer’s 's or the Trustee’s respective interests 's interest in the Storm Recovery Transition Property. 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 Transition Property, which, in the Servicer’s 's judgment, may include the taking of legal action pursuant to Section 5.02(d) 3.10 hereof or otherwise.

Appears in 1 contract

Sources: Transition Property Servicing Agreement (Reliant Energy Transition Bond Co LLC)