Recovery Property definition

Recovery Property means all recovery property as defined in Section 850(b)(11) of the Wildfire Financing Law created pursuant to the Financing Order and sold or otherwise conveyed to the Issuer under the Sale Agreement, including the right to impose, collect and receive the Fixed Recovery Charges authorized in the Financing Order. As used in the Basic Documents, the term “Recovery Property” when used with respect to PG&E includes the contract rights of PG&E that exist prior to the time that such rights are first transferred in connection with the issuance of the Recovery Bonds, at which time they become recovery property in accordance with Section 850.1(g) of the Wildfire Financing Law.

Recovery Property means the property right created pursuant to this article, including, without limitation, the right, title, and interest of the electrical corporation or its transferee:

Recovery Property when used with respect to PG&E includes the contract rights of PG&E that exist prior to the time that such rights are first transferred in connection with the issuance of the Recovery Bonds, at which time they become recovery property in accordance with Section 850.1(g) of the Wildfire Financing Law.

Examples of Recovery Property in a sentence

• Recovery property shall exist whether or not the fixed recovery charges have been billed, have accrued, or have been collected and notwithstanding the fact that the value for a security interest in the recovery property, or amount of the recovery property, is dependent on the future provision of service to consumers.

• Recovery property, fixed recovery charges, and the interests of an assignee, bondholder or financing entity, or any pledgee in recovery property and fixed recovery charges are not subject to setoff, counterclaim, surcharge, recoupment, or defense by the electrical corporation or any other person or in connection with the bankruptcy, reorganization, or other insolvency proceeding of the electrical corporation, any affiliate of the electrical corporation, or any other entity.

• Recovery property that is specified in a financing order shall constitute an existing, present property right, notwithstanding the fact that the imposition and collection of fixed recovery charges depend on the electrical corporation continuing to provide electricity service or continuing to perform its servicing functions relating to the collection of fixed recovery charges or on the level of future electricity consumption.

• Recovery property shall constitute property for all purposes, including for contracts securing recovery bonds, whether or not the recovery property revenues and proceeds have accrued.

• Recovery property placed in service on or after January 1, 1981, and before August 1, 1985, and subject to transition under subsection (8) of this section, shall be subject to depreciation under Section 167 of the Internal Revenue Code, restricted to the straight line method therein provided over the remaining useful life of such assets.

More Definitions of Recovery Property

Recovery Property means the “recovery property” as defined in Section 850(b)(11) of the Wildfire Financing Law that is established pursuant to the Financing Order, being all right, title and interest of PG&E: (i) in and to Fixed Recovery Charges in the amounts authorized to be imposed and collected under the Financing Order, including all rights to obtain adjustments to Fixed Recovery Charges in accordance with Wildfire Financing Law and the Financing Order, and (ii) all revenues, collections, claims, payments, moneys, or proceeds of or arising from the Fixed Recovery Charges.

Recovery Property means the “recovery property” as defined in Section 850(a)(11) of the Wildfire Financing Law that is authorized and created pursuant to the Financing Order, being all right, title and interest of SCE: (i) in and to Fixed Recovery Charges in the amounts authorized to be imposed and collected under the Financing Order and the Issuance Advice Letter, including all rights to obtain adjustments to Fixed Recovery Charges in accordance with Wildfire Financing Law, the Financing Order, and the Issuance Advice Letter and (ii) all revenues, collections, claims, payments, moneys, or proceeds of or arising from the Fixed Recovery Charges.

Recovery Property means all recovery property as defined in Section 850(b)(11) of the Securitization Law created pursuant to any Financing Order and sold or otherwise conveyed to the Company, as Issuer, under the related Sale Agreement, including the right to impose, collect and receive the Fixed Recovery Charges, and to obtain adjustments of such Fixed Recovery Charges, as authorized in any Financing Order. As used in the Basic Documents with respect to any series of Recovery Bonds, the term “Recovery Property” when used with respect to PG&E includes the contract rights of PG&E that exist prior to the time that such rights are first transferred in connection with the issuance of such series of Recovery Bonds, at which time they become recovery property in accordance with Section 850.1(g) of the Securitization Law.

Recovery Property means the “recovery property” as defined in Section 850(a)(11) of the Wildfire Financing Law that is authorized and created pursuant to the Financing Order, being all right, title and interest of Debtor: (i) in and to Fixed Recovery Charges in the amounts authorized to be imposed and collected under the Financing Order and the Issuance Advice Letter, including all rights to obtain adjustments to Fixed Recovery Charges in accordance with Wildfire Financing Law, the Financing Order, and the Issuance Advice Letter and (ii) all revenues, collections, claims, payments, moneys, or proceeds of or arising from the Fixed Recovery Charges.

Recovery Property has the meaning set forth in Section 1.01 of the Sale Agreement.

Recovery Property means the “recovery property” as defined in PU Code Section 848(j) that is identified as “Recovery Property” in the Issuance Advice Letter and authorized and created pursuant to the Financing Order.

Recovery Property means all recovery property as defined in Section 850(b)(11) of the Wildfire Financing Law created pursuant to the Financing Order and sold or otherwise conveyed to the Debtor under the Sale Agreement, including the right to impose, collect and receive the Fixed Recovery Charges authorized in the Financing Order. As used in the Basic Documents, the term “Recovery Property” when used with respect to PG&E includes the contract rights of PG&E that exist prior to the time that such rights are first transferred in connection with the issuance of the Recovery Bonds, at which time they become recovery property in accordance with Section 850.1(g) of the Wildfire Financing Law.