Restructuring Property definition

Restructuring Property means the Restructuring Property that is created pursuant to the Financing Order and is sold by the Seller to the Bond Issuer under the Sale Agreement.
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Restructuring Property means the property rights and interests
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Restructuring Property means the property rights and interests created pursuant to this act, including, without limitation, the right, title, and interest: (a) in and to the transition charges established pursuant to a restructuring cost financing order, as adjusted from time to time in accordance with the restructuring cost financing order; (b) in and to all revenues, collections, claims, payments, money, or proceeds of or arising from the transition charges or constituting transition charges that are the subject of a restructuring cost financing order, regardless of whether such revenues, collections, claims, payments, money, or proceeds are imposed, billed, received, collected or maintained together with or commingled with other revenues, collections, claims, payments, money or proceeds; and (c) in and to all rights to obtain adjustments to the transition charges pursuant to the terms of the restructuring cost financing order. Restructuring property shall constitute a vested, presently existing property right notwithstanding the fact that the value of the property right will depend on further acts that have not yet occurred, including but not limited to, consumers remaining or becoming connected to the T&D system assets and taking electric delivery service, the imposition and billing of transition charges, or, in those instances where consumers are customers of LIPA or any successor owner of the T&D system assets, such owner performing certain services.
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Examples of Restructuring Property in a sentence

  • The costs of any such action reasonably allocated by the Servicer to the Restructuring Property shall be payable from Charge Collections as an Ongoing Financing Cost in accordance with the Bond Indenture.

  • In addition, at least once each year, the Servicer shall (to the extent that it does not separately identify the Charges as being owned by the Bond Issuer in the Bills regularly sent to Customers) cause to be prepared and delivered to such Customers a notice stating, in effect, that the Restructuring Property and the Charges are owned solely by the Bond Issuer and not the Servicer.

  • The Servicer shall maintain the Restructuring Property Documentation at ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Blvd.

  • The Servicer’s duties to hold the Restructuring Property Documentation on behalf of the Bond Issuer set forth in this Section 3.09, to the extent such Restructuring Property Documentation has not been previously transferred to a successor Servicer, shall terminate three years after the earlier of the date on which (i) the Servicer is succeeded by a successor Servicer pursuant to the provisions of this Agreement or (ii) no Bonds of any Tranche are outstanding.

  • 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.

  • The Servicer shall promptly report to the Bond Issuer, the Authority, the Administrator, and the Bond Trustee any failure on the Servicer’s part to hold the Restructuring Property Documentation and maintain its accounts, records and computer systems as herein provided and promptly take appropriate action to remedy any such failure.

  • To assure uniform quality in servicing the Restructuring Property and to reduce administrative costs, the Servicer shall keep on file, in accordance with its customary procedures, all Restructuring Property Documentation, it being understood that the Servicer is acting solely as the servicing agent and custodian for the Bond Issuer with respect to the Restructuring Property Documentation.

  • As soon as practicable after receipt by the Servicer of such Termination Notice, the Servicer shall deliver the Restructuring Property Documentation to the successor Servicer.

  • The predecessor Servicer shall cooperate with the successor Servicer, the Bond Trustee, the Bond Issuer and the Allocation Agent in effecting the termination of the responsibilities and rights of the predecessor Servicer under this Agreement, including the transfer to the successor Servicer for administration by it of all cash amounts that shall at the time be held by the predecessor Servicer for remittance, or shall thereafter be received by it with respect to the Restructuring Property or the Charge.

  • Notwithstanding any other provision herein, the Bond Issuer shall have dominion and control over the Restructuring Property, and the Servicer, in accordance with the terms hereof, is acting solely as the servicing agent and custodian for the Bond Issuer with respect to the Restructuring Property and the Restructuring Property Documentation.


More Definitions of Restructuring Property

Restructuring Property means a Restructuring Resolution and the property rights and interests created thereby, including the title and right to, and the interest in: (a) the right to create and receive Transition Charges; (b) the Transition
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Restructuring Property means a Restructuring Resolution and the property rights and interests created thereby, including the title and right to, and the interest in: (a) the right to create and receive Transition Charges; (b) the Transition Charges, as adjusted from time to time in accordance with the Adjustment Mechanism, including any rights under a Servicing Agreement assigned pursuant to the corresponding Trust Agreement or other security agreement; (c) all revenues, collections, claims, payments, money, or proceeds on account of the Transition Charges or constituting Transition Charges, regardless of whether such revenues, collections, claims, payments, money, or proceeds are billed, received, collected or maintained by the Authority or by the Corporation together with or commingled with other revenues, collections, claims, payments, money, or proceeds; (d) all rights to obtain adjustments from Transition Charges pursuant to the terms of the Restructuring Resolution related thereto; and (e) all reserves established in connection with the Restructuring Bonds or the Restructuring Property. Once Restructuring Bonds are issued, the Restructuring Property shall constitute a vested existing property right as part of the assets of the Corporation, as initial owner, subject to any pledge of Restructuring Property pursuant to this Chapter, notwithstanding the fact that the value of the property right shall depend on further actions that have not yet occurred, including Customers remaining or becoming connected to the System Assets and taking or receiving electric service, the imposition and billing of Transition Charges, or the rendering of services by the Authority. The term “Restructuring Property” shall not include the Authority’s real property or the property rights created on such personal property.
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Related to Restructuring Property

  • Permitted Restructuring means the completion of: (a) an offer made by, or on behalf of, an Eligible Company to all (or as nearly as may be practicable all) of the shareholders of the Issuer (or, if the Issuer is not then the Ultimate Owner, to the shareholders of the then Ultimate Owner) to acquire the whole (or as nearly as may be practicable the whole) of the issued ordinary share capital of the Issuer (or, if the Issuer is not then the Ultimate Owner, the then Ultimate Owner’s issued ordinary share capital) other than those already held by or on behalf of such Eligible Company; or (b) a reorganisation or restructuring whether by way of a scheme of arrangement or otherwise pursuant to which an Eligible Company acquires all (or as nearly as may be practicable all) of the issued ordinary share capital of the Issuer (or, if the Issuer is not then the Ultimate Owner, the then Ultimate Owner’s issued share capital) other than those already held by such Eligible Company or pursuant to which all (or as nearly as may be practicable all) of the issued ordinary share capital of the Issuer (or if the Issuer is not then the Ultimate Owner, the then Ultimate Owner’s issued capital) not held by the New Holding Company is cancelled;

  • Existing Property means all property against which ad valorem property taxes were levied by a local unit for its concluding fiscal year, minus all property that is considered losses for purposes of ad valorem property tax levies of the local unit for the ensuing fiscal year.

  • Restructuring Plan means the Restructuring Plan attached hereto as Schedule 1.1.

  • Restructuring Period means, whether or not there are Rated Securities at the time a Restructuring Event occurs, the period of 45 days starting from and including the day on which that Restructuring Event occurs.

  • Restructuring Transactions means the transactions described in Article IV.B of the Plan.