Common use of Servicing and Maintenance Standards Clause in Contracts

Servicing and Maintenance Standards. The Servicer will monitor payments and impose collection policies on Customers, as permitted under the Financing Order and the Commission Regulations. On behalf of the Issuer, the Servicer shall: (a) manage, service, administer, bill, charge, collect, receive and post collections in respect of the Storm Recovery Property with reasonable care and in material compliance with each applicable Requirement of Law, including all applicable Commission Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets for its own account and, if applicable, for others; (b) calculate Storm Recovery Charges in accordance with the Storm Recovery Law; (c) follow standards, policies and procedures in performing its duties as Servicer that are customary in the electric distribution industry; (d) use all reasonable efforts, consistent with its customary servicing procedures, to enforce, and maintain rights in respect of, the Storm Recovery Property and to impose, bill, charge, collect, receive and post the Storm Recovery Charges; (e) comply with each Requirement of Law, including all applicable Commission Regulations and guidelines, applicable to and binding on it relating to the Storm Recovery Property; (f) file all reports with the Commission required by the Financing Order; (g) file and maintain the effectiveness of UCC financing statements filed with the Secretary of State of the State of North Carolina with respect to the property transferred under the Sale Agreement; and (h) take such other action on behalf of the Issuer to ensure that the Lien of the Indenture Trustee on the Storm Recovery Collateral remains perfected and of first priority, including any action required pursuant to any Intercreditor Agreement. 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, at the Issuer’s expense but subject to the priority of payments set forth in Section 8.02(e) of the Indenture.

Servicing and Maintenance Standards. The Servicer will monitor payments and impose collection policies on CustomersREPs, as permitted under the Financing Order and the Commission applicable PUCT Regulations. On behalf of the Issuer, the Servicer shall: : (a) manage, service, administer, bill, charge, collect, receive administer and post remit collections in respect of the Storm Recovery System Restoration Property with reasonable care and in material compliance with each applicable Requirement Requirements of Law, including all applicable Commission Regulations and guidelinesPUCT Regulations, using the same degree of care and diligence that the Servicer exercises with respect to similar assets for its own account and, if applicable, for others; ; (b) calculate Storm Recovery Charges in accordance with the Storm Recovery Law; (c) follow standards, policies and procedures in performing its duties as Servicer that are customary in the electric transmission and distribution industry; industry or that the Texas Commission has mandated and that are consistent with the terms and provisions of the Financing Order, Schedule SRC and existing law; (dc) use all reasonable efforts, consistent with its customary servicing procedures, to enforce, enforce and maintain the Issuer’s and the Trustee’s rights in respect ofof the System Restoration Property; (d) calculate System Restoration Charges and PBRAFs in compliance with the Securitization Act, the Storm Recovery Property Financing Order, any Texas Commission order related to System Restoration Charge allocation and to impose, bill, charge, collect, receive and post the Storm Recovery Charges; any applicable tariffs; (e) provide all reports to such parties to any future intercreditor agreement to which the Issuer is a party regarding the System Restoration Charges and PBRAFs as are necessary to effect collection, allocation and remittance of payments in respect of System Restoration Charges and other collected funds in accordance with this Agreement and such intercreditor agreement; (f) comply with each Requirement all Requirements of Law, including all applicable Commission Regulations and guidelinesPUCT Regulations, applicable to and binding on it relating to the Storm Recovery System Restoration Property; ; (fg) file all reports with the Texas Commission required by the Financing Order; (h) petition the Texas Commission for adjustments to the System Restoration Charges and PBRAFs that the Servicer determines to be necessary in accordance with the Financing Order; and (gi) file make all filings required under the Securitization Act or the UCC to maintain the perfected security interest of the Trustee in the Trust Estate and use all reasonable efforts to otherwise enforce and maintain the effectiveness of UCC financing statements filed with the Secretary of State Trustee’s rights in respect of the State of North Carolina System Restoration Property and the Trust Estate, except where the failure to comply with respect to the property transferred under the Sale Agreement; and (h) take such other action on behalf any of the Issuer to ensure that foregoing would not materially and adversely affect the Lien of Issuer’s or the Indenture Trustee on Trustee’s respective interests in the Storm Recovery Collateral remains perfected and of first priority, including any action required pursuant to any Intercreditor AgreementSystem 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, at the Issuer’s expense but subject to the priority of payments set forth in Section 8.02(e) of the Indenture.

Servicing and Maintenance Standards. The Servicer will monitor payments and impose collection policies on Customers, as permitted under the Financing Order and the Commission Regulations. On behalf of the Issuer, the Servicer shall: shall (a) manage, service, administer, bill, charge, collect, receive administer and post make collections in respect of the Storm Cost Recovery Property with reasonable care and in material compliance with each applicable Requirement Requirements of Law, including all applicable Commission Regulations and guidelinesRegulations, using the same degree of care and diligence that the Servicer exercises with respect to similar assets for its own account and, if applicable, for others; (b) calculate Storm Recovery Charges in accordance with the Storm Recovery Law; (c) follow customary standards, policies and procedures in performing its duties as Servicer that are customary in the electric transmission and distribution industryindustry in the Commonwealth of Kentucky; (dc) use all reasonable efforts, consistent with its customary servicing procedures, to enforce, and maintain rights in respect of, the Storm Cost Recovery Property and to impose, bill, charge, collect, receive receive, and post adjust the Storm Recovery Charges; (ed) comply with each Requirement all Requirements of Law, including all applicable Commission Regulations and guidelines, applicable to and binding on it relating to the Storm Cost Recovery Property; (f) file all reports with the Commission required by the Financing Order; (ge) file and maintain the effectiveness of UCC financing statements filed with the Secretary of State of the State of North Carolina with respect to the property transferred under the Sale AgreementCost Recovery Property; and (hf) take such other action on behalf of the Issuer to ensure that the Lien of the Indenture Trustee on the Storm Recovery Collateral remains perfected and of first prioritypriority (including, including if necessary, making any action filings that are required pursuant by the UCC if the Servicer or the Issuer changes its name or its jurisdiction of organization); and (g) within thirty (30) days after each five-year anniversary of the Closing Date, provide the Indenture Trustee with confirmation that all filings required under the UCC and the Act to any Intercreditor Agreementmaintain the Liens of the Indenture Trustee in the Cost Recovery Property remain in effect. 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 Cost Recovery Property, which, in the Servicer’s judgment, may include the taking of legal action, at the Issuer’s expense but subject to the priority of payments set forth in Section 8.02(e) of the Indenture.

Servicing and Maintenance Standards. The Servicer will monitor payments and impose collection policies on Customers, as permitted under the Financing Order and the Commission Regulations. On behalf of the Issuer, the Servicer shall: (a) manage, service, administer, bill, charge, collect, receive and post collections in respect of the Storm Recovery Property with reasonable care and in material compliance with each applicable Requirement of Law, including all applicable Commission Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets for its own account and, if applicable, for others; (b) calculate Storm Recovery Charges storm recovery charges in accordance with the Storm Recovery Law; (c) follow standards, policies and procedures in performing its duties as Servicer that are customary in the electric distribution industry; (d) use all reasonable efforts, consistent with its customary servicing procedures, to enforce, and maintain rights in respect of, the Storm Recovery Property and to impose, bill, charge, collect, receive and post the Storm Recovery Charges; (e) comply with each Requirement of Law, including all applicable Commission Regulations and guidelines, applicable to and binding on it relating to the Storm Recovery Property; (f) file all reports with the Commission required by the Financing Order; (g) file and maintain the effectiveness of UCC financing statements filed with the Secretary of State of the State of North South Carolina with respect to the property transferred under the Sale Agreement; and (h) take such other action on behalf of the Issuer to ensure that the Lien of the Indenture Trustee on the Storm Recovery Collateral remains perfected and of first priority, including any action required pursuant to any Intercreditor Agreement. 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, at the Issuer’s expense but subject to the priority of payments set forth in Section 8.02(e) of the Indenture.

Servicing and Maintenance Standards. The Servicer will monitor payments and impose collection policies on Customers, as permitted under the Financing Order and the Commission Regulations. On behalf of the Issuer, the Servicer shall: shall (a) manage, service, administer, bill, charge, collect, receive administer and post make collections in respect of the Storm Recovery Property with reasonable care and in material compliance with each applicable Requirement Requirements of Law, including all applicable Commission Council Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets for its own account and, if applicable, for others; (b) calculate Storm Recovery Charges in accordance with the Storm Recovery Law; (c) follow customary standards, policies and procedures for the industry in Louisiana in performing its duties as Servicer that are customary in the electric distribution industryServicer; (dc) use all reasonable efforts, consistent with its customary servicing procedures, to enforce, and maintain rights in respect of, the Storm Recovery Property and to impose, bill, charge, collect, receive and post bill ▇▇▇ collect the Storm Recovery Charges; (ed) comply with each Requirement all Requirements of Law, including all applicable Commission Council Regulations and guidelines, applicable to and binding on it relating to the Storm Recovery Property; (e) file, and maintain the effectiveness of, UCC financing statements with respect to the property transferred under the Sale Agreement, including all financing statements required pursuant to Section 1230 and Section 1231 of the Storm Recovery Securitization Law, and (f) file all reports with the Commission required by the Financing Order; (g) file and maintain the effectiveness of UCC financing statements filed with the Secretary of State of the State of North Carolina with respect to the property transferred under the Sale Agreement; and (h) take such other action on behalf of the Issuer to ensure that the Lien of the Indenture Trustee on the Storm Recovery Bond Collateral remains perfected and of first priority, including any action required pursuant to any Intercreditor Agreement. 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, at the Issuer’s expense but subject to the priority of payments payment set forth in Section 8.02(e) of the Indenture.

Servicing and Maintenance Standards. The Servicer will monitor payments and impose collection policies on Customers, as permitted under the Financing Order and the Commission Regulations. On behalf of the Issuer, the Servicer shall: shall (a) manage, service, administer, bill, charge, collect, receive administer and post make collections in respect of the Storm Recovery Property with reasonable care and in material compliance with each applicable Requirement Requirements of Law, including all applicable Commission Council Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets for its own account and, if applicable, for others; (b) calculate Storm Recovery Charges in accordance with the Storm Recovery Law; (c) follow customary standards, policies and procedures for the industry in Louisiana in performing its duties as Servicer that are customary in the electric distribution industryServicer; (dc) use all reasonable efforts, consistent with its customary servicing procedures, to enforce, and maintain rights in respect of, the Storm Recovery Property and to impose, bill, charge, collect, receive ▇▇▇▇ and post collect the Storm Recovery Charges; (ed) comply with each Requirement all Requirements of Law, including all applicable Commission Council Regulations and guidelines, applicable to and binding on it relating to the Storm Recovery Property; (e) file, and maintain the effectiveness of, UCC financing statements with respect to the property transferred under the Sale Agreement, including all financing statements required pursuant to Section 1230 and Section 1231 of the Storm Recovery Securitization Law, and (f) file all reports with the Commission required by the Financing Order; (g) file and maintain the effectiveness of UCC financing statements filed with the Secretary of State of the State of North Carolina with respect to the property transferred under the Sale Agreement; and (h) take such other action on behalf of the Issuer to ensure that the Lien of the Indenture Trustee on the Storm Recovery Bond Collateral remains perfected and of first priority, including any action required pursuant to any Intercreditor Agreement. 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, at the Issuer’s expense but subject to the priority of payments payment set forth in Section 8.02(e) of the Indenture.

Servicing and Maintenance Standards. The Servicer will monitor payments and impose collection policies on Customers, as permitted under the Financing Order and the Commission Regulations. On behalf of the Issuer, the Servicer shall: (a) manage, service, administer, bill, charge, collect, receive and post collections in respect of the Storm Recovery Property with reasonable care and in material compliance with each applicable Requirement of Law, including all applicable Commission Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to similar assets for its own account and, if applicable, for others; (b) calculate Storm Recovery Charges in accordance with the Storm Recovery Law; (c) follow standards, policies and procedures in performing its duties as Servicer that are customary in the electric distribution industry; (d) use all reasonable efforts, consistent with its customary servicing procedures, to enforce, and maintain rights in respect of, the Storm Recovery Property and to impose, bill, charge, collect, receive and post the Storm Recovery Charges; (e) comply with each Requirement of Law, including all applicable Commission Regulations and guidelines, applicable to and binding on it relating to the Storm Recovery Property; (f) file all reports with the Commission required by the Financing Order; (g) file and maintain the effectiveness of UCC financing statements filed with the Secretary of State of the State of North South Carolina with respect to the property transferred under the Sale Agreement; and (h) take such other action on behalf of the Issuer to ensure that the Lien of the Indenture Trustee on the Storm Recovery Collateral remains perfected and of first priority, including any action required pursuant to any Intercreditor Agreement. 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, at the Issuer’s expense but subject to the priority of payments set forth in Section 8.02(e) of the Indenture.