Common use of Servicing and Maintenance Standards Clause in Contracts

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Bond Issuer: (a) manage, service, administer and make collections in respect of the Restructuring Property with reasonable care and in material compliance with applicable law, including all applicable Authority Regulations, using the same degree of care and diligence that the Servicer exercises with respect to billing and collection activities that the Servicer conducts for itself and others; (b) follow customary standards, policies and procedures in performing its duties as Servicer that are customary in the electric distribution industry; (c) use all reasonable efforts, consistent with its customary servicing procedures, to enforce and maintain the Bond Issuer’s and the Bond Trustee’s rights in respect of the Restructuring Property; (d) calculate Charges in compliance with the Statute and the Financing Order; (e) invoice Customers in accordance with the procedures set forth in Annex 2, except where the failure to comply with any of the foregoing would not materially and adversely affect the Bond Issuer’s or the Bond Trustee’s interest in the Restructuring Property. The Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of the Restructuring Property, which, in the Servicer’s judgment, may include the taking of legal action pursuant to Section 3.10 or otherwise. Notwithstanding the foregoing, the Servicer shall not change its customary and usual practices and procedures in any manner that would materially and adversely affect the Bond Issuer’s or the Bond Trustee’s interest in the Restructuring Property unless it shall have provided the Rating Agencies with prior written notice.

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Bond Issuer: (a) manage, service, administer and make collections in respect of the Restructuring Transferred Securitization Property with reasonable care and in material compliance with applicable law, including all applicable Authority MPSC Regulations, using the same degree of care and diligence that the Servicer exercises with respect to billing and collection activities that the Servicer conducts for itself and others; (b) follow customary standards, policies and procedures in performing its duties as Servicer that are customary in the electric distribution industry; (c) use all reasonable efforts, consistent with its customary servicing procedures, to enforce and maintain the Bond Issuer’s 's and the Bond Trustee’s 's rights in respect of the Restructuring Transferred Securitization Property;; and (d) calculate the Securitization Charges in compliance with the Statute and Customer Choice Act, the Financing Order; (e) invoice Customers in accordance with the procedures set forth in Annex 2, Order and any applicable tariffs; except where the failure to comply with any of the foregoing would not materially and adversely affect the Bond Issuer’s 's or the Bond Trustee’s 's interest in the Restructuring Transferred Securitization Property. The Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of the Restructuring Transferred Securitization Property, which, in the Servicer’s 's judgment, may include the taking of legal action pursuant to Section 3.10 or otherwise. Notwithstanding the foregoing, the Servicer shall not change its customary and usual practices and procedures in any manner that would materially and adversely affect the Bond Issuer’s 's or the Bond Trustee’s 's interest in the Restructuring Transferred Securitization Property unless it shall have provided the Rating Agencies with prior written notice.

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Bond Issuer: (a) manage, service, administer and make collections in respect of the Restructuring Transferred Securitization Property with reasonable care and in material compliance with applicable law, including all applicable Authority MPSC Regulations, using the same degree of care and diligence that the Servicer exercises with respect to billing and collection activities that the Servicer conducts for itself and others; (b) follow customary standards, policies and procedures in performing its duties as Servicer that are customary in the electric distribution industry; (c) use all reasonable efforts, consistent with its customary servicing procedures, to enforce and maintain the Bond Issuer’s and the Bond Trustee’s rights in respect of the Restructuring Transferred Securitization Property;; and (d) calculate the Securitization Charges in compliance with the Statute and Customer Choice Act, the Financing Order; (e) invoice Customers in accordance with the procedures set forth in Annex 2, Order and any applicable tariffs; except where the failure to comply with any of the foregoing would not materially and adversely affect the Bond Issuer’s or the Bond Trustee’s interest in the Restructuring Transferred Securitization Property. The Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of the Restructuring Transferred Securitization Property, which, in the Servicer’s judgment, may include the taking of legal action pursuant to Section 3.10 or otherwise. Notwithstanding the foregoing, the Servicer shall not change its customary and usual practices and procedures in any manner that would materially and adversely affect the Bond Issuer’s or the Bond Trustee’s interest in the Restructuring Transferred Securitization Property unless it shall have provided the Rating Agencies with prior written notice.

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Bond Issuer: (a) manage, service, administer and make collections in respect of the Restructuring Transferred Bondable Transition Property with reasonable care and in material compliance with applicable lawlaw and regulations, including all applicable Authority BPU Regulations, using the same degree of care and diligence that the Servicer exercises with respect to billing and collection activities that the Servicer conducts for itself and others; (b) follow customary standards, policies and procedures in performing its duties as Servicer that are customary in the electric power distribution industryindustry in New Jersey; (c) use all reasonable efforts, consistent with its customary servicing procedures, to enforce and maintain the Bond Issuer’s rights of the Issuer and the Bond Trustee’s rights Trustee in respect of the Restructuring Transferred Bondable Transition Property;; and (d) calculate Charges the Transition Bond Charge in compliance with the Statute and Competition Act, the Financing Order; (e) invoice Customers in accordance with the procedures set forth in Annex 2, Order and any applicable tariffs; except where the failure to comply with any of the foregoing would not materially and adversely affect have a material adverse effect on the Bond Issuer’s or the Bond Trustee’s interest respective interests in the Restructuring Transferred Bondable Transition Property. The Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of the Restructuring Transferred Bondable Transition Property, which, in the Servicer’s judgment, may include the taking of legal action pursuant to Section 3.10 or otherwise. Notwithstanding the foregoing, the Servicer shall not change its customary and usual practices and procedures in any manner that would materially and adversely affect have a material adverse effect on the Bond Issuer’s or the Bond Trustee’s interest respective interests in the Restructuring Transferred Bondable Transition Property unless it shall have provided the Rating Agencies with prior written notice.

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Bond Issuer: (a) manage, service, administer and make collections in respect of the Restructuring Transferred Bondable Transition Property with reasonable care and in material compliance with applicable lawlaw and regulations, including all applicable Authority BPU Regulations, using the same degree of care and diligence that the Servicer exercises with respect to billing and collection activities that the Servicer conducts for itself and others; (b) follow customary standards, policies and procedures in performing its duties as Servicer that are customary in the electric power distribution industry; (c) use all reasonable efforts, consistent with its customary servicing procedures, to enforce and maintain the Bond Issuer’s rights of the Issuer and the Bond Trustee’s rights Trustee in respect of the Restructuring Transferred Bondable Transition Property;; and (d) calculate Charges the Transition Bond Charge in compliance with the Statute and Competition Act, the Financing Order; (e) invoice Customers in accordance with the procedures set forth in Annex 2, Order and any applicable tariffs; except where the failure to comply with any of the foregoing would not materially and adversely affect have a material adverse effect on the Bond Issuer’s 's or the Bond Trustee’s interest 's respective interests in the Restructuring Transferred Bondable Transition Property. The Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of the Restructuring Transferred Bondable Transition Property, which, in the Servicer’s 's judgment, may include the taking of legal action pursuant to Section 3.10 or otherwise. Notwithstanding the foregoing, the Servicer shall not change its customary and usual practices and procedures in any manner that would materially and adversely affect have a material adverse effect on the Bond Issuer’s 's or the Bond Trustee’s interest 's respective interests in the Restructuring Transferred Bondable Transition Property unless it shall have provided the Rating Agencies with prior written notice.

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Bond Issuer: , (a) manage, service, administer and make collections in respect of the Restructuring Transferred Bondable Transition Property with reasonable care and in material compliance with applicable lawlaw and regulations, including all applicable Authority BPU Regulations, using the same degree of care and diligence that the Servicer exercises with respect to billing and collection activities that the Servicer conducts for itself and others; , (b) follow customary standards, policies and procedures in performing its duties as Servicer that are customary in the electric distribution Servicer's industry; , (c) use all reasonable efforts, consistent with its customary servicing procedures, to enforce and maintain the Bond Issuer’s 's and the Bond Trustee’s 's rights in respect of the Restructuring Property; Transferred Bondable Transition Property and (d) calculate Charges Transition Bond Charge in compliance with the Statute Competition Act, the BPU Financing Orders and the Financing Order; (e) invoice Customers in accordance with the procedures set forth in Annex 2any applicable tariffs, except where the failure to comply with any of the foregoing standards would not materially and adversely affect the Bond Issuer’s 's or the Bond Trustee’s 's interest in the Restructuring Transferred Bondable Transition Property. The Servicer shall follow such customary and usual practices and procedures as it shall deem deems necessary or advisable in its servicing of all or any portion of the Restructuring Transferred Bondable Transition Property, which, in the Servicer’s 's judgment, may include the taking of legal action pursuant to Section 3.10 or otherwise. Notwithstanding the foregoing, the Servicer shall not change its customary and usual practices and procedures in any manner that would materially and adversely affect the Bond Issuer’s 's or the Bond Trustee’s 's interest in the Restructuring Transferred Bondable Transition Property unless it shall have provided the Rating Agencies with prior written notice.

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Bond Issuer: , (a) manage, service, administer and make collections in respect of the Restructuring Transferred Bondable Transition Property with reasonable care and in material compliance with applicable law, including all applicable Authority BPU Regulations, using the same degree of care and diligence that the Servicer exercises with respect to billing and collection activities that the Servicer conducts for itself and others; , (b) follow customary standards, policies and procedures in performing its duties as Servicer that are customary in the electric distribution Servicer's industry; , (c) use all reasonable efforts, consistent with its customary servicing procedures, to enforce and maintain the Bond Issuer’s 's and the Bond Trustee’s 's rights in respect of the Restructuring Property; Transferred Bondable Transition Property and (d) calculate Charges Transition Bond Charge in compliance with the Statute Competition Act, the BPU Financing Orders and the Financing Order; (e) invoice Customers in accordance with the procedures set forth in Annex 2any applicable tariffs, except where the failure to comply with any of the foregoing standards would not materially and adversely affect the Bond Issuer’s 's or the Bond Trustee’s 's interest in the Restructuring Transferred Bondable Transition Property. The Servicer shall follow such customary and usual practices and procedures as it shall deem deems necessary or advisable in its servicing of all or any portion of the Restructuring Transferred Bondable Transition Property, which, in the Servicer’s 's judgment, may include the taking of legal action pursuant to Section 3.10 or otherwise. Notwithstanding the foregoing, the Servicer shall not change its customary and usual practices and procedures in any manner that would materially and adversely affect the Bond Issuer’s 's or the Bond Trustee’s 's interest in the Restructuring Transferred Bondable Transition Property unless it shall have provided the Rating Agencies with prior written notice.

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Bond Issuer: (a) manage, service, administer and make collections in respect of the Restructuring Transferred Intangible Transition Property with reasonable care and in material compliance with applicable law, including all applicable Authority RegulationsPUC Regulations and guidelines, using the same degree of care and diligence that the Servicer exercises with respect to billing and collection activities that the Servicer conducts for itself and others; (b) follow customary standards, policies and procedures in performing its duties as Servicer that are customary in the electric distribution industry; (c) use all reasonable efforts, consistent with its customary servicing procedures, to enforce and maintain the Bond Issuer’s 's and the Bond Trustee’s 's rights in respect of the Restructuring Intangible Transition Property;; and (d) calculate Intangible Transition Charges in compliance with the Statute Competition Act, the Qualified Rate Order and the Financing Order; (e) invoice Customers in accordance with the procedures set forth in Annex 2, any applicable tariffs; except where the failure to comply with any of the foregoing would not materially and adversely affect the Bond Issuer’s 's or the Bond Trustee’s 's interest in the Restructuring Transferred Intangible 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 Restructuring Transferred Intangible Transition Property, which, in the Servicer’s 's judgment, may include the taking of legal action pursuant to Section 3.10 hereof or otherwise. Notwithstanding the foregoing, the Servicer shall not change its customary and usual practices and procedures in any manner that would materially and adversely affect the Bond Issuer’s 's or the Bond Trustee’s 's interest in the Restructuring Transferred Intangible Transition Property unless it shall have provided the Rating Agencies with prior written notice.

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Bond Issuer: (a) manage, service, administer and make collections in respect of the Restructuring Transferred BGS Bondable Transition Property with reasonable care and in material compliance with applicable law, including all applicable Authority BPU Regulations, using the same degree of care and diligence that the Servicer exercises with respect to billing and collection activities that the Servicer conducts for itself and others; (b) follow customary standards, policies and procedures in performing its duties as Servicer that are customary in the electric distribution industry; (c) use all reasonable efforts, consistent with its customary servicing procedures, to enforce and maintain the Bond Issuer’s 's and the Bond Trustee’s 's rights in respect of the Restructuring Transferred BGS Bondable Transition Property;; and (d) calculate Charges the BGS Transition Bond Charge in compliance with the Statute and Competition Act, the Financing Order; (e) invoice Customers in accordance with the procedures set forth in Annex 2, Order and any applicable tariffs; except where the failure to comply with any of the foregoing would not materially and adversely affect the Bond Issuer’s 's or the Bond Trustee’s 's interest in the Restructuring Transferred BGS Bondable Transition Property. The Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of the Restructuring Transferred BGS Bondable Transition Property, which, in the Servicer’s 's judgment, may include the taking of legal action pursuant to Section 3.10 or otherwise. Notwithstanding the foregoing, the Servicer shall not change its customary and usual practices and procedures in any manner that would materially and adversely affect the Bond Issuer’s 's or the Bond Trustee’s 's interest in the Restructuring Transferred BGS Bondable Transition Property unless it shall have provided the Rating Agencies with prior written notice.

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Bond Issuer: (a) manage, service, administer and make collections in respect of the Restructuring Transferred BGS Bondable Transition Property with reasonable care and in material compliance with applicable law, including all applicable Authority BPU Regulations, using the same degree of care and diligence that the Servicer exercises with respect to billing and collection activities that the Servicer conducts for itself and others;others;6 (b) follow customary standards, policies and procedures in performing its duties as Servicer that are customary in the electric distribution industry; (c) use all reasonable efforts, consistent with its customary servicing procedures, to enforce and maintain the Bond Issuer’s 's and the Bond Trustee’s 's rights in respect of the Restructuring Transferred BGS Bondable Transition Property;; and (d) calculate Charges the BGS Transition Bond Charge in compliance with the Statute and Competition Act, the Financing Order;Order and any applicable tariffs; and (e) invoice Customers Customer in accordance with the procedures set forth in Annex 2, Exhibit A. except where the failure to comply with any of the foregoing would not materially and adversely affect the Bond Issuer’s 's or the Bond Trustee’s 's interest in the Restructuring Transferred BGS Bondable Transition Property. The Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of the Restructuring Transferred BGS Bondable Transition Property, which, in the Servicer’s 's judgment, may include the taking of legal action pursuant to Section 3.10 or otherwise. Notwithstanding the foregoing, the Servicer shall not change its customary and usual practices and procedures in any manner that would materially and adversely affect the Bond Issuer’s 's or the Bond Trustee’s 's interest in the Restructuring Transferred BGS Bondable Transition Property unless it shall have provided the Rating Agencies with prior written notice.

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Bond Issuer: (a) manage, service, administer and make collections in respect of the Restructuring Property with reasonable care and in material compliance with applicable law, including all applicable Authority Regulations, using the same degree of care and diligence that the Servicer exercises with respect to billing and collection activities that the Servicer conducts for itself and others; (b) follow customary standards, policies and procedures in performing its duties as Servicer that are customary in the electric distribution industry; (c) use all reasonable efforts, consistent with its customary servicing procedures, to enforce and maintain the Bond Issuer’s and the Bond Trustee’s rights in respect of the Restructuring Property; (d) calculate Charges in compliance with the Statute and the Financing Order;; and (e) invoice Customers in accordance with the procedures set forth in Annex 2, except where the failure to comply with any of the foregoing would not materially and adversely affect the Bond Issuer’s or the Bond Trustee’s interest in the Restructuring Property. The Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of the Restructuring Property, which, in the Servicer’s judgment, may include the taking of legal action pursuant to Section 3.10 or otherwise. Notwithstanding the foregoing, the Servicer shall not change its customary and usual practices and procedures in any manner that would materially and adversely affect the Bond Issuer’s or the Bond Trustee’s interest in the Restructuring Property unless it shall have provided the Rating Agencies with prior written notice.

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Bond Issuer: (a) manage, service, administer and make collections in respect of the Restructuring Transferred Bondable Transition Property with reasonable care and in material compliance with applicable law, including all applicable Authority BPU Regulations, using the same degree of care and diligence that the Servicer exercises with respect to billing and collection activities that the Servicer conducts for itself and others; (b) follow customary standards, policies and procedures in performing its duties as Servicer that are customary in the electric distribution industry; (c) use all reasonable efforts, consistent with its customary servicing procedures, to enforce and maintain the Bond Issuer’s 's and the Bond Trustee’s 's rights in respect of the Restructuring Transferred Bondable Transition Property;; and (d) calculate Charges the Transition Bond Charge in compliance with the Statute and Competition Act, the Financing Order; (e) invoice Customers in accordance with the procedures set forth in Annex 2, Order and any applicable tariffs; except where the failure to comply with any of the foregoing would not materially and adversely affect the Bond Issuer’s 's or the Bond Trustee’s 's interest in the Restructuring Transferred Bondable Transition Property. The Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of the Restructuring Transferred Bondable Transition Property, which, in the Servicer’s 's judgment, may include the taking of legal action pursuant to Section 3.10 or otherwise. Notwithstanding the foregoing, the Servicer shall not change its customary and usual practices and procedures in any manner that would materially and adversely affect the Bond Issuer’s 's or the Bond Trustee’s 's interest in the Restructuring Transferred Bondable Transition Property unless it shall have provided the Rating Agencies with prior written notice.

Servicing and Maintenance Standards. The Servicer shall, on behalf of the Bond Issuer: (a) manage, service, administer and make collections in respect of the Restructuring Transferred Bondable Transition Property with reasonable care and in material compliance with applicable law, including all applicable Authority BPU Regulations, using the same degree of care and diligence that the Servicer exercises with respect to billing and collection activities that the Servicer conducts for itself and others; (b) follow customary standards, policies and procedures in performing its duties as Servicer that are customary in the electric distribution industry; (c) use all reasonable efforts, consistent with its customary servicing procedures, to enforce and maintain the Bond Issuer’s 's and the Bond Trustee’s 's rights in respect of the Restructuring Transferred Bondable Transition Property;; and (d) calculate Charges the Transition Bond Charge in compliance with the Statute and Competition Act, the Financing Order; (e) invoice Customers in accordance with the procedures set forth in Annex 2, Order and any applicable tariffs; [except where the failure to comply with any of the foregoing would not materially and adversely affect the Bond Issuer’s 's or the Bond Trustee’s 's interest in the Restructuring Transferred Bondable Transition Property]. The Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of the Restructuring Transferred Bondable Transition Property, which, in the Servicer’s 's judgment, may include the taking of legal action pursuant to Section 3.10 or otherwise. Notwithstanding the foregoing, the Servicer shall not change its customary and usual practices and procedures in any manner that would materially and adversely affect the Bond Issuer’s 's or the Bond Trustee’s 's interest in the Restructuring Transferred Bondable Transition Property unless it shall have provided the Rating Agencies with prior written notice.