Common use of Collection Account Clause in Contracts

Collection Account. (a) Prior to the Closing Date, the Issuer shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Collections and all other amounts received with respect to the Recovery Bond Collateral (the “Collection Account”). The Collection Account will consist of three subaccounts: a general subaccount (the “General Subaccount”), an excess funds subaccount (the “Excess Funds Subaccount”) and a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment Earnings) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d) and (e). The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earnings, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Date, the Issuer shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC SUTC Collections, FRC SUTC Collections and all other amounts received with respect to the Recovery Securitized Utility Tariff Bond Collateral (the “Collection Account”). The Collection Account will consist of three subaccounts: a general subaccount (the “General Subaccount”), an excess funds subaccount (the “Excess Funds Subaccount”) and a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Securitized Utility Tariff Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Securitized Utility Tariff Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment Earnings) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d) and (e). The Collection Account shall at all times be maintained in as an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Securitized Utility Tariff Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earnings, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Securitized Utility Tariff Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing DateDate issued hereunder, the Issuer shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust Officeoffice, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Storm Recovery Charge Collections for Bonds and all other amounts received with respect to the Storm Recovery Bond Collateral servicing the Bonds (the “Collection Account” and collectively, the “Collection Accounts”). The Indenture Trustee shall hold the Collection Account will consist for the benefit of the related Holders, the Indenture Trustee and the other persons indemnified hereunder. There shall be established by the Indenture Trustee in respect of each Collection Account three subaccounts: a general subaccount (the “General Subaccount”), ; an excess funds subaccount (the “Excess Funds Subaccount”) and ); a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have , and a separate tail-end subaccount (each, a the “Cash Tail-end Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount). For administrative purposes, the Subaccounts may be established by the Indenture Trustee Securities Intermediary as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of the Storm Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, Subaccount up to the Required Capital Level and any Capital Subaccount Investment EarningsLevel) shall be allocated to the General Subaccount. All references to the a Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d) and (e8.02(e). The Collection Account shall at all times be maintained in an Eligible Account, Account and will be under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the applicable Collection Account for the purpose of making deposits in and withdrawals from the applicable Collection Account in accordance with this Indenture. Funds in the a Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, Indenture and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee Securities Intermediary in the Collection Account as part of the Storm Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (aa)(i) Prior to the Closing Issuance Date, the Issuer Bond Trustee shall open or cause to be opened established with the Securities Intermediary Intermediary, in the Bond Trustee’s name, located at the Indenture Bond Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Bond Trustee’s name for the deposit of Estimated FRC Collections, FRC Collections Phase-In-Recovery Charge Payments and all other amounts received with respect to remitted under the Recovery Bond Collateral Servicing Agreement (collectively, the “Collection Account”). The Bond Trustee shall hold the Collection Account for the benefit of Bondholders, the Bond Trustee and the other Persons indemnified hereunder or under the Fee and Indemnity Agreement. The Collection Account will consist of three subaccounts: a general subaccount (the “General Subaccount”), an excess funds subaccount (the “Excess Funds Subaccount”) ” and a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment Earnings) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d) and (e)this Section 8.02. The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Account and only the Indenture Bond Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earnings, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.Bond

Collection Account. (a) Prior to the Closing Date, the Issuer shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC EC Charge Collections, FRC EC Charge Collections and all other amounts received with respect to the Recovery Environmental Trust Bond Collateral (the “Collection Account”). The Collection Account will consist of three subaccounts: a general subaccount (the “General Subaccount”), ; an excess funds subaccount (the “Excess Funds Subaccount”) ); and a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee Securities Intermediary as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. .” Prior to or concurrently with the issuance of Recovery the Environmental Trust Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, Subaccount up to the Required Capital Level and any Capital Subaccount Investment EarningsLevel) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (eSection 8.02(e). The Collection Account shall at all times be maintained in an Eligible Account, Account and will be under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, Indenture and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee Securities Intermediary in the Collection Account as part of the Recovery Environmental Trust Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing DateSeries Issuance Date for the first Series of Notes issued hereunder, the Note Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Trustee’s office located at the 's Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s 's name for the deposit of Estimated FRC CollectionsIFC Collections (collectively, FRC Collections and all other amounts received with respect to the Recovery Bond Collateral (the “"Collection Account”"). The Collection Account will consist of three four subaccounts: a general subaccount (the “"General Subaccount”"), an excess funds a reserve subaccount (the “Excess Funds "Reserve Subaccount”"), a subaccount for the Overcollateralization Amount (the "Overcollateralization Subaccount") and a capital subaccount (the “"Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”"). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and for any Capital Subaccount Investment EarningsSeries of Notes) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (e). The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Deposit Account and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Note Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Date, the Issuer shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Securitization Charge Collections and all other amounts received with respect to the Recovery Securitization Bond Collateral (the “Collection Account”). The There shall be established by the Indenture Trustee in respect of the Collection Account will consist of three subaccounts: a general subaccount (the “General Subaccount”), ; an excess funds subaccount (the “Excess Funds Subaccount”) ); and a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee Securities Intermediary as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Securitization Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, Subaccount up to the Required Capital Level and any Capital Subaccount Investment EarningsLevel) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (eSection 8.02(e). The Collection Account shall at all times be maintained in an Eligible Account, Account and will be under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, Indenture and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee Securities Intermediary in the Collection Account as part of the Recovery Securitization Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Series Closing Date, the Issuer shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Energy Transition Charge Collections for the Energy Transition Bonds and all other amounts received with respect to the Recovery Bond Collateral servicing such Energy Transition Bonds (the “Collection Account” and collectively, the “Collection Accounts”). The Indenture Trustee shall hold the Collection Account will consist for the benefit of the Secured Parties. There shall be established by the Indenture Trustee in respect of the Collection Account three subaccounts: a general subaccount (the “General Subaccount”), ; an excess funds subaccount (the “Excess Funds Subaccount”) ); and a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee Securities Intermediary as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery the Energy Transition Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, Subaccount up to the Required Capital Level and any Capital Subaccount Investment EarningsLevel) shall be allocated to the General Subaccount. All references to the a Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the a Collection Account shall be made as set forth in Sections Section 8.02(d) and (eSection 8.02(e). The Collection Account shall at all times be maintained in as an Eligible Account, Account and will be under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the applicable Collection Account for the purpose of making deposits in and withdrawals from the applicable Collection Account in accordance with this Indenture. Funds in the a Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, Indenture and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee Securities Intermediary in the Collection Account as part of the Recovery Bond Series Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Issuance Date, the Note Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Note Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Note Trustee’s name for the deposit of Estimated FRC Collections, FRC Collections RTC Charge Payments and all other amounts received with respect to remitted under the Recovery Bond Collateral Servicing Agreement (collectively, the “Collection Account”). The Note Trustee shall hold the Collection Account for the benefit of Noteholders, the Note Trustee and the other Persons indemnified hereunder or under the Fee and Indemnity Agreement. The Collection Account will consist of three four subaccounts: a general subaccount (the “General Subaccount”), an excess funds a reserve subaccount (the “Excess Funds Reserve Subaccount”), an overcollateralization subaccount (the “Overcollateralization Subaccount”) and a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment Earningstogether with interest earnings thereon) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d) and (e)this Section 8.02. The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Deposit Account and only the Indenture Note Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Note Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All Except as provided in Section 8.03, all moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Note Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Note Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior On or prior to the Closing Date, the Issuer Indenture Trustee shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more segregated non-interest bearing trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Collections Securitized Utility Tariff Charges and all other amounts received with respect to the Recovery Bond Collateral Trust Estate (the “Collection Account” and collectively, the “Collection Accounts”). The Securities Intermediary shall hold the Collection Account will consist for the benefit of the Holders, the Indenture Trustee and the other persons indemnified hereunder. Initially the Collection Account shall be divided into three subaccounts, which need not be separate accounts: a general subaccount (the “General Subaccount”), ; an excess funds subaccount (the “Excess Funds Subaccount”) and ); a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee Securities Intermediary as separate accounts. Such separate accounts Subaccounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery the Securitized Utility Tariff Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital LevelAmount and shall not come from the proceeds of the sale of the Securitized Utility Tariff Bonds. All Unless otherwise provided herein, all amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, Subaccount up to the Required Capital Level and any Capital Subaccount Investment EarningsAmount) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts Subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts Subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d) and (e8.02(e). The Collection Account shall at all times be maintained in an Eligible Account, Account and will be under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, Indenture and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Collateral Trust Estate as herein provided. The Indenture Trustee and the Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Date, the Issuer shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Collections and all other amounts received with respect to the Recovery Bond Collateral (referred to herein as the “2023-A Collection Account” or the “Collection Account”). The Collection Account will consist of three subaccounts: a general subaccount (the “General Subaccount”), an excess funds subaccount (the “Excess Funds Subaccount”) and a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. .” Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment Earnings) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (e). The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earnings, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior On or prior to the Closing Date, the Issuer Indenture Trustee shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust OfficeIntermediary, or at another Eligible Institution, one or more segregated non-interest bearing trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Collections Securitization Charges and all other amounts received with respect to the Recovery Bond Collateral Trust Estate (the “Collection Account”). The Securities Intermediary shall hold the Collection Account will consist for the benefit of the Holders, the Indenture Trustee and the other persons indemnified hereunder. Initially the Collection Account shall be divided into three subaccounts, which need not be separate accounts: a general subaccount (the “General Subaccount”), ; an excess funds subaccount (the “Excess Funds Subaccount”) and ); a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee Securities Intermediary as separate accounts. Such separate accounts Subaccounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery the Securitization Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital LevelAmount, which amount shall not come from the proceeds of the sale of the Securitization Bonds. All Unless otherwise provided herein, all amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, Subaccount up to the Required Capital Level and any Capital Subaccount Investment EarningsAmount) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts Subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts Subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d) and (e8.02(e). The Collection Account shall at all times be maintained in an Eligible Account, Account and will be under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, Indenture and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Collateral Trust Estate as herein provided. The Indenture Trustee and the Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Date, the Issuer shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC CRR Charge Collections and all other amounts received with respect to the Recovery CRR Bond Collateral (the “Collection Account”). The Collection Account will consist of three subaccounts: a general subaccount (the “General Subaccount”), an excess funds subaccount (the “Excess Funds Subaccount”) and a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee Securities Intermediary as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. .” Prior to or concurrently with the issuance of Recovery Consumer Rate Relief Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment EarningsLevel) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (e). The Collection Account shall at all times be maintained in an Eligible Account, will be under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee Securities Intermediary in the Collection Account as part of the Recovery CRR Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Date, the Issuer shall open or cause to be opened with the Securities Intermediary located opened, at the Indenture Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more a segregated trust accounts account in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Collections SRC Remittances and all other amounts received with respect to the Storm Recovery Bond Collateral (the “Collection Account”). The Collection Account will consist of three subaccounts: a general subaccount (the “General Subaccount”), an excess funds subaccount (the “Excess Funds Subaccount”) and a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have ; provided that the Series Supplement may provide for the establishment of a separate cost of issuance subaccount (each, a “Cash Subaccount”) where cash allocated to provide for the application of Storm Recovery Bond proceeds to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other payment of the costs of issuing the Storm Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash SubaccountBonds. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. .” Prior to or concurrently with the issuance of the Storm Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital LevelLevel for the Storm Recovery Bonds. All amounts in the Collection Account not allocated to any other subaccount Subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment Earningsfor the Storm Recovery Bonds) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts Subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts Subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (e). The Collection Account shall at all times be maintained in an Eligible Account, will be under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee in the General Subaccount of the Collection Account as part of the Storm Recovery Bond Collateral as herein provided. The Securities Intermediary Indenture Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Date, the Issuer shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Securitization Charge Collections and all other amounts received with respect to the Recovery Securitization Bond Collateral (the “Collection Account”). The There shall be established by the Indenture Trustee in respect of the Collection Account will consist of three subaccounts: a general subaccount (the “General Subaccount”), ; an excess funds subaccount (the “Excess Funds Subaccount”) ); and a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee Securities Intermediary as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Securitization Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, Subaccount up to the Required Capital Level and any Capital Subaccount Investment EarningsLevel) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (eSection 8.02(e). The Collection Account shall at all times be maintained in an Eligible Account, Account and will be under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, Indenture and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee Securities Intermediary in the Collection Account as part of the Recovery Securitization Bond Collateral as herein provided. The Indenture Trustee shall have no investment discretion. Absent written instructions to invest, funds shall remain uninvested. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Date, the Issuer shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more a segregated trust accounts account in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Deferred Fuel Cost Charge Collections and all other amounts received with respect to the Recovery Bond Deferred Fuel Cost Collateral (the “Collection Account”). The Indenture Trustee shall hold the Collection Account will consist for the benefit of the Holders, the Indenture Trustee and the other persons indemnified hereunder. There shall be established by the Indenture Trustee in respect of the Collection Account three subaccounts: a general subaccount (the “General Subaccount”), ; an excess funds subaccount (the “Excess Funds Subaccount”) and ); a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery the Deferred Fuel Cost Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, Subaccount up to the Required Capital Level and any Capital Subaccount Investment EarningsLevel) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d) and (e8.02(e). The Collection Account shall at all times be maintained in as an Eligible Account, Account and will be under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, Indenture and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee Securities Intermediary in the Collection Account as part of the Recovery Bond Deferred Fuel Cost Collateral as herein provided. The Neither the Indenture Trustee nor the Securities Intermediary shall have no any liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing DateDate issued hereunder, the Issuer shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust Officeoffice, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Storm Recovery Charge Collections for Bonds and all other amounts received with respect to the Storm Recovery Bond Collateral servicing the Bonds (the “Collection Account” and collectively, the “Collection Accounts”). The Indenture Trustee shall hold the Collection Account will consist for the benefit of the related Holders, the Indenture Trustee and the other persons indemnified hereunder. There shall be established by the Indenture Trustee in respect of each Collection Account three subaccounts: a general subaccount (the “General Subaccount”), ; an excess funds subaccount (the “Excess Funds Subaccount”) and ); a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee Securities Intermediary as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of the Storm Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, Subaccount up to the Required Capital Level and any Capital Subaccount Investment EarningsLevel) shall be allocated to the General Subaccount. All references to the a Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d) and (e8.02(e). The Collection Account shall at all times be maintained in an Eligible Account, Account and will be under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the applicable Collection Account for the purpose of making deposits in and withdrawals from the applicable Collection Account in accordance with this Indenture. Funds in the a Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, Indenture and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee Securities Intermediary in the Collection Account as part of the Storm Recovery Bond Collateral as herein provided. The Indenture Trustee shall have no investment discretion. Absent written instructions to invest, funds shall remain uninvested. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Date, the Issuer shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Collections and all other amounts received with respect to the Recovery Bond Collateral (referred to herein as the “2022-A Collection Account” or the “Collection Account”). The Collection Account will consist of three subaccounts: a general subaccount (the “General Subaccount”), an excess funds subaccount (the “Excess Funds Subaccount”) and a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. .” Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment Earnings) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (e). The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earnings, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Date, the Issuer shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Phase-In-Recovery Charge Collections and all other amounts received with respect to the Phase-In-Recovery Bond Collateral (the “Collection Account”). The Collection Account will consist of three subaccounts: a general subaccount (the “General Subaccount”), an excess funds subaccount (the “Excess Funds Subaccount”) and a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee Securities Intermediary as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. .” Prior to or concurrently with the issuance of Phase-In-Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment EarningsLevel) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (e). The Collection Account shall at all times be maintained in an Eligible Account, will be under the sole dominion and exclusive control of the Indenture Trustee, Trustee through the Securities Intermediary, and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee Securities Intermediary in the Collection Account as part of the Phase-In-Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing DateSeries Issuance ------------------- Date for the first Series issued hereunder, the Note Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Note Trustee’s office located at the 's Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Note Trustee’s 's name for the deposit of Estimated FRC CollectionsFTA Collections (collectively, FRC Collections and all other amounts received with respect to the Recovery Bond Collateral (the “"Collection Account”"). The Collection Account will consist of three four subaccounts: a general subaccount (the “"General Subaccount”"), an excess funds a reserve subaccount (the “Excess Funds "Reserve Subaccount”"), a subaccount for the Overcollateralization Amount (the "Overcollateralization Subaccount") and a capital subaccount (the “"Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”"). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment Earnings) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (e). The Collection Account shall at all times be maintained in with an Eligible Account, under Institution and the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Note Trustee or another Paying Agent shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Note Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Date, the Issuer shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC RRB Charge Collections and all other amounts received with respect to the Recovery Bond RRB Collateral (the “Collection Account”). The There shall be established by the Indenture Trustee in respect of the Collection Account will consist of three subaccounts: a general subaccount (the “General Subaccount”), ; an excess funds subaccount (the “Excess Funds Subaccount”) ); and a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee Securities Intermediary as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Rate Reduction Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, Subaccount up to the Required Capital Level and any Capital Subaccount Investment Earnings) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (eSection 8.02(e). The Collection Account shall at all times be maintained in an Eligible Account, Account and will be under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, Indenture and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earnings, shall be held by the Indenture Trustee Securities Intermediary in the Collection Account as part of the Recovery Bond RRB Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Date, the Issuer shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Collections and all other amounts received with respect to the Recovery Bond Collateral (the “Collection Account”). The Collection Account will consist of three subaccounts: a general subaccount (the “General Subaccount”), an excess funds subaccount (the “Excess Funds Subaccount”) and a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. .” Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment Earnings) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (e). The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earnings, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Series Closing DateDate for the first Series issued hereunder, the Issuer shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust Officeoffice, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Nuclear Asset-Recovery Charge Collections for each Series of Bonds and all other amounts received with respect to the Recovery Bond Series Collateral servicing such Series of Bonds (each a “Collection Account” and collectively, the “Collection AccountAccounts”). The Indenture Trustee shall hold each Collection Account will consist for the benefit of the related Holders, the Indenture Trustee and the other persons indemnified hereunder. There shall be established by the Indenture Trustee in respect of each Collection Account three subaccounts: a general subaccount (the “General Subaccount”), ; an excess funds subaccount (the “Excess Funds Subaccount”) and ); a capital subaccount (the “Capital Subaccount” ”) and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee Securities Intermediary as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of each Series of Nuclear Asset-Recovery Bonds, the Member shall deposit into the Capital Subaccount for such Series an amount equal to the Required Capital Level. All amounts in the Collection Account for such Series not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccountfor such Series. Prior to the Initial initial Payment DateDate for each Series, all amounts in the Collection Account for such Series (other than funds deposited into the Capital Subaccount, Subaccount for such Series up to the Required Capital Level and any Capital Subaccount Investment EarningsLevel) shall be allocated to the General SubaccountSubaccount for such Series. All references to the a Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (eSection 8.02(e). The Collection Account for such Series shall at all times be maintained in an Eligible Account, Account and will be under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the applicable Collection Account for the purpose of making deposits in and withdrawals from the applicable Collection Account in accordance with this Indenture. Funds in the a Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture TrusteeAccount for such Series, all deposits therein pursuant to this Indenture, Indenture and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee Securities Intermediary in the Collection Account for such Series as part of the Recovery Bond Series Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Date, the Issuer shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Collections and all other amounts received with respect to the Recovery Bond Collateral (the “Collection Account”). The Collection Account will consist of three subaccounts: a general subaccount (the “General Subaccount”), an excess funds subaccount (the “Excess Funds Subaccount”) and a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment Earnings) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (e). The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earnings, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Date, the Issuer shall open or cause to be opened with the Securities Intermediary located opened, at the Indenture Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more a segregated trust accounts account in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Collections IRC Remittances and all other amounts received with respect to the Investment Recovery Bond Collateral (the “Collection Account”). The Collection Account will consist of three subaccounts: a general subaccount (the “General Subaccount”), an excess funds subaccount (the “Excess Funds Subaccount”) and a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have ; provided that the Series Supplement may provide for the establishment of a separate cost of issuance subaccount (each, a “Cash Subaccount”) where cash allocated to provide for the application of Investment Recovery Bond proceeds to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other payment of the costs of issuing the Investment Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash SubaccountBonds. For administrative purposes, the Subaccounts may may, but need not, be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. .” Prior to or concurrently with the issuance of the Investment Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital LevelLevel for the Investment Recovery Bonds. All amounts in the Collection Account not allocated to any other subaccount Subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount for the Investment EarningsRecovery Bonds) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts Subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts Subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (e). The Collection Account shall at all times be maintained in an Eligible Account, will be under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee in the general Subaccount of the Collection Account as part of the Investment Recovery Bond Collateral as herein provided. The Securities Intermediary Indenture Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior On or prior to the Closing DateSeries Issuance Date for the first Series issued hereunder, the Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Bond Trustee’s office located at the 's Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Bond Trustee’s 's name for (collectively, the deposit of Estimated FRC Collections, FRC Collections and all other amounts received with respect to the Recovery Bond Collateral (the “"Collection Account”"). The Collection Account will consist of three initially be divided into subaccounts, which need not be separate bank accounts: a general subaccount (the “"General Subaccount”"), an excess funds Overcollateralization subaccount (the “Excess Funds "Overcollateralization Subaccount”) and "), a capital subaccount (the “"Capital Subaccount” and"), together with a reserve subaccount (the General Subaccount "Reserve Subaccount"), a series subaccount for each Series of Transition Bonds issued on such date (each a "Series Subaccount"), and a class subaccount for each Class of Transition Bonds issued on such date that the Excess Funds supplemental indenture authorizing such Class specifies a class subaccount shall be established therefor (each a "Class Subaccount"). On or prior to the Series Issuance Date for each Series issued after the Series Issuance Date for the first Series issued hereunder, the “Subaccounts”). Each Issuer shall establish a Series Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to therefor and any necessary Class Subaccounts as subaccounts of the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to depositing funds or concurrently with U.S. Government Obligations in the issuance of Recovery BondsCollection Account pursuant to Sections 4.01 or 4.02, the Member Issuer shall establish defeasance subaccounts (each a "Defeasance Subaccount") for each Series for which funds shall be deposited, as subaccounts of the Collection Account. Prior to any Loss Amounts or Interest Deposit Amounts being deposited in the Collection Account, the Issuer shall establish a loss subaccount (the "Loss Subaccount") or an interest deposit into subaccount (the Capital Subaccount an amount equal to "Interest Deposit Subaccount"), as applicable, as a subaccount of the Required Capital LevelCollection Account. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment Earnings) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d4.01, 4.02, 4.03 and 8.02(c), (d), (e) and (ef). The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Deposit Account and only the Indenture Bond Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Bond Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Date, the Issuer shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust Officeoffice, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Collections Storm Recovery Charges and all other amounts received with respect to the Recovery Bond Collateral Trust Estate (the “Collection Account” and collectively, the “Collection Accounts”). The Indenture Trustee shall hold the Collection Account will consist for the benefit of the Holders, the Indenture Trustee and the other persons indemnified hereunder. There shall be established by the Indenture Trustee in respect of each Collection Account three subaccounts: a general subaccount (the “General Subaccount”), ; an excess funds subaccount (the “Excess Funds Subaccount”) and ); a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee Securities Intermediary as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of the Storm Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital LevelAmount. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, Subaccount up to the Required Capital Level and any Capital Subaccount Investment EarningsAmount) shall be allocated to the General Subaccount. All references to the a Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d) and (e8.02(e). The Collection Account shall at all times be maintained in an Eligible Account, Account and will be under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the applicable Collection Account for the purpose of making deposits in and withdrawals from the applicable Collection Account in accordance with this Indenture. Funds in the a Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, Indenture and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee Securities Intermediary in the Collection Account as part of the Recovery Bond Collateral Trust Estate as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Issuance Date, the Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Trustee’s office located at the 's Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s 's name for the deposit of Estimated FRC Collectionsamounts remitted to the Trustee for deposit therein on the Issuance Date, FRC Collections RRB Charge Payments and all other amounts received with respect to remitted under the Recovery Bond Collateral Servicing Agreement (collectively, the “"Collection Account”"). The Trustee shall hold the Collection Account for the benefit of Bondholders, the Trustee and the other Persons indemnified hereunder or under the Fee and Indemnity Agreement. The Collection Account will consist of three subaccounts: five subaccounts (which need not be separate bank accounts): a general subaccount (the “"General Subaccount”"), a reserve subaccount (the "Reserve Subaccount"), an excess funds overcollateralization subaccount (the “Excess Funds "Overcollateralization Subaccount”) and "), a capital subaccount (the “"Capital Subaccount” and, together with the General Subaccount ") and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate an interest reserve subaccount (each, a “Cash the "Interest Reserve Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level"). All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount and the Interest Reserve Subaccount, up to the Required Capital Level and any Capital Subaccount Investment Earningstogether with interest earnings thereon) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d) and (e)this Section 8.02. The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Deposit Account and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All Except as provided in Section 8.03, all moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior On or prior to the Closing DateSeries Issuance Date for the first Series issued hereunder, the Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Bond Trustee’s office located at the 's Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Bond Trustee’s 's name for (collectively, the deposit of Estimated FRC Collections, FRC Collections and all other amounts received with respect to the Recovery Bond Collateral (the “"Collection Account”"). The Collection Account will consist of three initially be divided into subaccounts, which need not be separate bank accounts: a general subaccount (the “"General Subaccount”"), an excess funds Overcollateralization subaccount (the “Excess Funds "Overcollateralization Subaccount”) and "), a capital subaccount (the “"Capital Subaccount” and"), together with a reserve subaccount (the General Subaccount "Reserve Subaccount"), and a series subaccount for each Series of Transition Bonds issued on such date (each a "Series Subaccount"). On or prior to the Excess Funds SubaccountSeries Issuance Date for each Series issued after the Series Issuance Date for the first Series issued hereunder, the “Subaccounts”). Each Issuer shall establish a Series Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually therefor as a Subaccount and collectively as subaccount of the “Collection Account”. Prior to depositing funds or concurrently with U.S. Government Obligations in the issuance of Recovery BondsCollection Account pursuant to Sections 4.01 or 4.02, the Member Issuer shall establish defeasance subaccounts (each a "Defeasance Subaccount") for each Series for which funds shall be deposited, as subaccounts of the Collection Account. Prior to any Loss Amounts or Interest Deposit Amounts being deposited in the Collection Account, the Issuer shall establish a loss subaccount (the "Loss Subaccount") or an interest deposit into subaccount (the Capital Subaccount an amount equal to "Interest Deposit Subaccount"), as applicable, as a subaccount of the Required Capital LevelCollection Account. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial Payment initial Monthly Allocation Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment EarningsAmount) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections 4.01, 4.02, 4.03 and 8.02(d), (e) and (ef). The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Deposit Account and only the Indenture Bond Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Bond Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior On or prior to the Closing Date, the Issuer Indenture Trustee shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust OfficeIntermediary, or at another Eligible Institution, one or more segregated non-interest bearing trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Collections Securitized Utility Tariff Charges and all other amounts received with respect to the Recovery Bond Collateral Trust Estate (the “Collection Account” and collectively, the “Collection Accounts”). The Securities Intermediary shall hold the Collection Account will consist for the benefit of the Holders, the Indenture Trustee and the other persons indemnified hereunder. Initially, the Collection Account shall be divided into three subaccounts, which need not be separate accounts: a general subaccount (the “General Subaccount”), ; an excess funds subaccount (the “Excess Funds Subaccount”) and ); a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee Securities Intermediary as separate accounts. Such separate accounts Subaccounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery the Securitized Utility Tariff Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital LevelAmount and shall not come from the proceeds of the sale of the Securitized Utility Tariff Bonds. All Unless otherwise provided herein, all amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, Subaccount up to the Required Capital Level and any Capital Subaccount Investment EarningsAmount) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts Subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts Subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d) and (e8.02(e). The Collection Account shall at all times be maintained in an Eligible Account, Account and will be under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Trustee and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, Indenture and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Collateral Trust Estate as herein provided. The Indenture Trustee and the Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely and specific written investment direction.

Collection Account. (a) Prior to the Closing Date, the Issuer shall open or cause to be opened with the Securities Intermediary located opened, at the Indenture Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more a segregated trust accounts account in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Collections SRC Remittances and all other amounts received with respect to the Storm Recovery Bond Collateral (the “Collection Account”). The Collection Account will consist of three subaccounts: a general subaccount (the “General Subaccount”), an excess funds subaccount (the “Excess Funds Subaccount”) and a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have ; provided that the Series Supplement may provide for the establishment of a separate cost of issuance subaccount (each, a “Cash Subaccount”) where cash allocated to provide for the application of Storm Recovery Bond proceeds to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other payment of the costs of issuing the Storm Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash SubaccountBonds. For administrative purposes, the Subaccounts may may, but need not, be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. .” Prior to or concurrently with the issuance of the Storm Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital LevelLevel for the Storm Recovery Bonds. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment Earningsfor the Storm Recovery Bonds) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (e). The Collection Account shall at all times be maintained in an Eligible Account, will be under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee in the Collection Account as part of the Storm Recovery Bond Collateral as herein provided. The Securities Intermediary Indenture Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Issuance Date, the Note Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Note Trustee’s office located at the 's Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Note Trustee’s 's name for the deposit of Estimated FRC Collections, FRC Collections RRB Charge Payments and all other amounts received with respect to remitted under the Recovery Bond Collateral Servicing Agreement (collectively, the “"Collection Account”"). The Note Trustee shall hold the Collection Account for the benefit of Noteholders. The Collection Account will consist of three four subaccounts: a general subaccount (the “"General Subaccount”"), a reserve subaccount (the "Reserve Subaccount"), an excess funds overcollateralization subaccount (the “Excess Funds "Overcollateralization Subaccount”") and a capital subaccount (the “"Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”"). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment Earningstogether with interest earnings thereon) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d) and (e)Section 8.02. The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Deposit Account and only the Indenture Note Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Note Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All Except as provided in Section 8.03, all moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Note Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Note Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Issuance Date, the Note Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Note Trustee’s office located at the 's Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Note Trustee’s 's name for the deposit of Estimated FRC CollectionsRTC Charge Collections (collectively, FRC Collections and all other amounts received with respect to the Recovery Bond Collateral (the “"Collection Account”"). The Note Trustee shall hold the Collection Account for the benefit of Noteholders. The Collection Account will consist of three four subaccounts: a general subaccount (the “"General Subaccount”"), an excess funds a reserve subaccount (the “Excess Funds "Reserve Subaccount”"), a subaccount for the Overcollateralization Amount (the "Overcollateralization Subaccount") and a capital subaccount (the “"Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”"). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, together with interest earnings thereon, up to the Required Capital Level and any Capital Subaccount Investment EarningsLevel) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d) and (e)Section 8.02. The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Deposit Account and only the Indenture Note Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Note Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All Except as provided in Section 8.03, all moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Note Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Note Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior On or prior to the Closing Date, the Issuer Indenture Trustee shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust OfficeIntermediary, or at another Eligible Institution, one or more segregated non-interest bearing trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Collections Securitized Utility Tariff Charges and all other amounts received with respect to the Recovery Bond Collateral Trust Estate (the “Collection Account” and collectively, the “Collection Accounts”). The Securities Intermediary shall hold the Collection Account will consist for the benefit of the Holders, the Indenture Trustee and the other persons indemnified hereunder. Initially, the Collection Account shall be divided into three subaccounts, which need not be separate accounts: a general subaccount (the “General Subaccount”), ; an excess funds subaccount (the “Excess Funds Subaccount”) and ); a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee Securities Intermediary as separate accounts. Such separate accounts Subaccounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery the Securitized Utility Tariff Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital LevelAmount and shall not come from the proceeds of the sale of the Securitized Utility Tariff Bonds. All Unless otherwise provided herein, all amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, Subaccount up to the Required Capital Level and any Capital Subaccount Investment EarningsAmount) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts Subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts Subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d) and (e8.02(e). The Collection Account shall at all times be maintained in an Eligible Account, Account and will be under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Trustee and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earnings, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.this

Collection Account. (a) Prior to the Closing DateSeries Issuance Date for the first Series issued hereunder, the Note Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Note Trustee’s office located at the 's Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Note Trustee’s 's name for the deposit of Estimated FRC CollectionsFTA Collections (collectively, FRC Collections and all other amounts received with respect to the Recovery Bond Collateral (the “"Collection Account”"). The Collection Account will consist ------------------ of three four subaccounts: a general subaccount (the “"General Subaccount”"), an excess funds a reserve ------------------ subaccount (the “Excess Funds "Reserve Subaccount”"), a subaccount for the ------------------ Overcollateralization Amount (the "Overcollateralization Subaccount") and a -------------------------------- capital subaccount (the “"Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”"). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection ------------------ Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment EarningsLevel) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (e). The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Deposit Account and only the Indenture Note Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Note Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Series Closing DateDate for the first Series issued hereunder, the Issuer shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Nuclear Asset-Recovery Charge Collections for each Series of Bonds and all other amounts received with respect to the Recovery Bond Series Collateral servicing such Series of Bonds (each a “Collection Account” and collectively, the “Collection AccountAccounts”). The Indenture Trustee shall hold each Collection Account will consist for the benefit of the related Holders, the Indenture Trustee and the other persons indemnified hereunder. There shall be established by the Indenture Trustee in respect of each Collection Account three subaccounts: a general subaccount (the “General Subaccount”), ; an excess funds subaccount (the “Excess Funds Subaccount”) and ); a capital subaccount (the “Capital Subaccount” ”) and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee Securities Intermediary as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of each Series of Nuclear Asset-Recovery Bonds, the Member shall deposit into the Capital Subaccount for such Series an amount equal to the Required Capital Level. All amounts in the Collection Account for such Series not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccountfor such Series. Prior to the Initial initial Payment DateDate for each Series, all amounts in the Collection Account for such Series (other than funds deposited into the Capital Subaccount, Subaccount for such Series up to the Required Capital Level and any Capital Subaccount Investment EarningsLevel) shall be allocated to the General SubaccountSubaccount for such Series. All references to the a Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (eSection 8.02(e). The Collection Account for such Series shall at all times be maintained in an Eligible Account, Account and will be under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the applicable Collection Account for the purpose of making deposits in and withdrawals from the applicable Collection Account in accordance with this Indenture. Funds in the a Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture TrusteeAccount for such Series, all deposits therein pursuant to this Indenture, Indenture and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee Securities Intermediary in the Collection Account for such Series as part of the Recovery Bond Series Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior On or prior to the Closing DateSeries Issuance Date for the first Series issued hereunder, the Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Trustee’s office located at the 's Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s 's name for (collectively, the deposit of Estimated FRC Collections, FRC Collections and all other amounts received with respect to the Recovery Bond Collateral (the “"Collection Account”"). The Collection Account will consist of three shall initially be divided into subaccounts, which need not be separate bank accounts: a general subaccount (the “"General Subaccount”"), an excess funds overcollateralization subaccount (the “Excess Funds "Overcollateralization Subaccount”) and "), a capital subaccount (the “"Capital Subaccount” and"), together with a reserve subaccount (the General Subaccount "Reserve Subaccount"), and a series subaccount for each Series of Transition Bonds issued on such date (each a "Series Subaccount"). On or prior to the Excess Funds SubaccountSeries Issuance Date for each Series issued after the Series Issuance Date for the first Series issued hereunder, the “Subaccounts”). Each Issuer shall establish an additional Series Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually therefor as a Subaccount and collectively as subaccount of the “Collection Account”. Prior to depositing funds or concurrently with U.S. Government Obligations in the issuance of Recovery BondsCollection Account pursuant to Sections 4.01 or 4.02, the Member Issuer shall deposit into establish defeasance subaccounts (each a "Defeasance Subaccount") for each Series for which funds shall be deposited, as subaccounts of the Capital Subaccount an amount equal to the Required Capital LevelCollection Account. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment EarningsAmount) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections 4.01, 4.02, 4.03 and 8.02(d) and (e). The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Deposit Account and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled by the Issuer with any other moneys, and shall not be commingled by the Trustee except to the extent set forth in Section 6.01(f). All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Issuance Date, the Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more a segregated trust accounts account in the Indenture Trustee’s name for the deposit of Estimated FRC CollectionsDRC Payments, FRC Collections DRC Payments, and all other amounts received with respect to the Recovery Bond Collateral (the “Collection Account”). The Collection Account will consist of three four subaccounts: a general subaccount (the “General Subaccount”), an excess funds a reserve subaccount (the “Excess Funds Reserve Subaccount”) ), an overcollateralization subaccount (the “Overcollateralization Subaccount”), and a capital subaccount (the “Capital Subaccount” and”). Notwithstanding any other provision of this Section 8.02(a), together with the Trustee shall be authorized to establish each of the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Reserve Subaccount, the Overcollateralization Subaccount, and the Capital Subaccount as separate trust accounts in the Trustee’s name at an Eligible Institution; if the Trustee does so, the General Subaccount, the Reserve Subaccount, the Overcollateralization Subaccount, and the Capital Subaccount shall have together be deemed to constitute the Collection Account, and it shall not be necessary to establish the Collection Account as a separate trust account. Prior to depositing funds or U.S. Government Obligations in the Collection Account pursuant to Section 4.02(b), the Issuer shall establish a defeasance subaccount (each, a “Cash Defeasance Subaccount”) where cash allocated to the related Subaccount will be held. Only cash for which such funds and/or U.S. Government Obligations shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposesdeposited, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as subaccount of the “Collection Account”. Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment EarningsLevel) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections 8.02(dSection 8.02(c), (d) and (e). The Collection Account shall at all times be maintained in as an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Deposit Account and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Collateral securing the Bonds as herein provided. The Securities Intermediary Money in the Defeasance Subaccount shall have no liability be invested solely in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment directionU.S. Government Obligations.

Collection Account. (a) Prior to the Closing DateSeries Issuance ------------------- Date for the first Series issued hereunder, the Note Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Note Trustee’s office located at the 's Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Note Trustee’s 's name for the deposit of Estimated FRC CollectionsFTA Collections (collectively, FRC Collections and all other amounts received with respect to the Recovery Bond Collateral (the “"Collection Account”"). The Collection Account will consist of three four subaccounts: a general subaccount (the “"General Subaccount”"), an excess funds a reserve subaccount (the “Excess Funds "Reserve Subaccount”"), a subaccount for the Overcollateralization Amount (the "Overcollateralization Subaccount") and a capital subaccount (the “"Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”"). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment EarningsLevel) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (e). The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Deposit Account and only the Indenture Note Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Note Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing DateSeries Issuance ------------------ Date for the first Series issued hereunder, the Note Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Note Trustee’s office located at the 's Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Note Trustee’s 's name for the deposit of Estimated FRC CollectionsFTA Collections (collectively, FRC Collections and all other amounts received with respect to the Recovery Bond Collateral (the “"Collection Account”"). The Collection Account will consist of three four subaccounts: a general subaccount (the “"General Subaccount”"), an excess funds a reserve subaccount (the “Excess Funds "Reserve Subaccount”"), a subaccount for the Overcollateralization Amount (the "Overcollateralization Subaccount") and a capital subaccount (the “"Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”"). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment EarningsLevel) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (e). The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Deposit Account and only the Indenture Note Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Note Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior (i) On or prior to the Closing DateIssuance Date for the Bonds issued hereunder, the Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture TrusteePaying Agent’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more segregated non-interest-bearing trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Collections for the Bonds and all other amounts received with respect to the Recovery Bond Collateral Trust Estate (the “Collection Account”). The Collection Account will consist of three shall initially be divided into subaccounts, which need not be separate accounts: a general subaccount (the “General Subaccount”), a capital subaccount (the “Capital Subaccount”), an excess funds subaccount (the “Excess Funds Subaccount”) and a capital subaccount (one or more class subaccounts for any Tranche of the “Capital Subaccount” and, together with Bonds as specified in the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount Supplement (each, a “Cash Tranche Subaccount”) where cash allocated ). On or prior to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include Issuance Date for the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital LevelAmount. All Unless otherwise provided herein, all amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred toUnless otherwise provided herein, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment Earnings) shall be allocated to the General Subaccount. Prior to depositing funds or U.S. Government Obligations in the Collection Account pursuant to Section 4.01 or 4.02, the Issuer shall establish defeasance subaccounts (each a “Defeasance Subaccount”) for which funds shall be deposited, as subaccounts of the Collection Account. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the any Collection Account shall be made as set forth in Sections Section 4.03 and Section 8.02(d) and (e). The Each Collection Account shall at all times be maintained in as an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Account and only the Indenture Trustee shall have access to the that Collection Account for the purpose of making deposits in and withdrawals from the that Collection Account in accordance with this Indenture. Funds in the a Collection Account shall not be commingled with any other moneys, including moneys in any other Collection Account. All moneys deposited from time to time in the a Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee in the that Collection Account as part of the Recovery Bond Collateral Trust Estate as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior On or prior to the Closing DateSeries Issuance Date for the first Series issued hereunder, the Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Trustee’s office located at the 's Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s 's name for the deposit benefit of Estimated FRC Collectionsthe Holders (collectively, FRC Collections and all other amounts received with respect to the Recovery Bond Collateral (the “"Collection Account”"). The Collection Account will consist of three shall initially be divided into subaccounts, which need not be separate bank accounts: a general subaccount (the “"General Subaccount”"), an excess funds overcollateralization subaccount (the “Excess Funds "Overcollateralization Subaccount”) and "), a capital subaccount (the “"Capital Subaccount” and"), together with a reserve subaccount (the General Subaccount "Reserve Subaccount"), and a series subaccount for each Series of Transition Bonds issued on such date (each a "Series Subaccount"). On or prior to the Excess Funds SubaccountSeries Issuance Date for each Series issued after the Series Issuance Date for the first Series issued hereunder, the “Subaccounts”). Each Issuer shall establish an additional Series Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually therefor as a Subaccount and collectively as of the “Collection Account”. Prior to depositing funds or concurrently with U.S. Government Obligations in the issuance of Recovery BondsCollection Account pursuant to Sections 4.01 or 4.02, the Member Issuer shall deposit into establish defeasance subaccounts (each a "Defeasance Subaccount") for each Series for which funds shall be deposited, as subaccounts of the Capital Subaccount an amount equal to the Required Capital LevelCollection Account. All amounts in the Collection Account not allocated to any other subaccount Subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment EarningsAmount) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections 4.01, 4.02, 4.03 and 8.02(d) and (e). The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Security Account and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled by the Issuer with any other moneys, and shall not be commingled by the Trustee. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary Notwithstanding any other provision of this Indenture, the Collection Account shall have no liability be a securities account and shall be established only with a securities intermediary (as defined in respect Section 8-102(a)(13) of losses incurred the applicable UCC) that agrees with the Trustee that (I) the Collection Account shall be a securities account of the Trustee, (II) all property credited to the Collection Account shall be treated as a result financial asset, (III) such securities intermediary shall treat the Trustee as entitled to exercise the rights that comprise each financial asset credited to the Collection Account, (IV) such securities intermediary shall comply with entitlement orders originated by the Trustee without the further consent of any other person or entity, (V) such securities intermediary will not agree with any person other than the Trustee to comply with entitlement orders originated by such other person, (VI) the Collection Account and all property credited to it shall not be subject to any lien, security interest, right of set-off in favor of such securities intermediary or anyone claiming through it (other than the Trustee), and (VII) such agreement shall be governed by the laws of the liquidation Commonwealth of any Eligible Investment prior to its stated maturity or its date Pennsylvania. The Collection Account shall be under the control (within the meaning of redemption or the failure Section 8-106 of the Issuer or applicable UCC) of the Servicer Trustee. If at any time the Collection Account ceases to provide timely written investment directionbe an Eligible Securities Account, the Trustee shall, within 10 days, establish a new Collection Account as an Eligible Securities Account.

Collection Account. (a) Prior to the Closing DateSeries Issuance Date for the first Series of Notes issued hereunder, the Note Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Trustee’s office located at the 's Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s 's name for the deposit of Estimated FRC CollectionsTransition Charge Collections (collectively, FRC Collections and all other amounts received with respect to the Recovery Bond Collateral (the “"Collection Account”"). The Collection Account will consist of three five subaccounts: a general subaccount (the “"General Subaccount”"), an excess funds a reserve subaccount (the “Excess Funds "Reserve Subaccount”) and "), a subaccount for the Overcollateralization Amount (the "Overcollateralization Subaccount"), a subaccount for REP deposits (the "REP Deposit Subaccount")and a capital subaccount (the “"Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”"). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level for any Series of Notes, and any Capital Subaccount Investment Earningsfunds deposited into the REP Deposit Subaccount) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (e). The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Deposit Account and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Note Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Issuance Date, the Note Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Note Trustee’s office located at the 's Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Note Trustee’s 's name for the deposit of Estimated FRC Collections, FRC Collections RTC Charge Payments and all other amounts received with respect to remitted under the Recovery Bond Collateral Servicing Agreement (collectively, the “"Collection Account”"). The Note Trustee shall hold the Collection Account for the benefit of Noteholders. The Collection Account will consist of three four subaccounts: a general subaccount (the “"General Subaccount”"), a reserve subaccount (the "Reserve Subaccount"), an excess funds overcollateralization subaccount (the “Excess Funds "Overcollateralization Subaccount”") and a capital subaccount (the “"Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”"). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment Earningstogether with interest earnings thereon) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d) and (e)Section 8.02. The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Deposit Account and only the Indenture Note Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Note Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All Except as provided in Section 8.03, all moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Note Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Note Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior On or prior to the Closing Date, the Issuer shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office Trustee located at the Corporate Trust Office, or at another Eligible Institution, one or more segregated non-interest bearing trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Collections Storm Recovery Charges and all other amounts received with respect to the Recovery Bond Collateral Trust Estate (the “Collection Account” and collectively, the “Collection Accounts”). The Indenture Trustee shall hold the Collection Account will consist for the benefit of the Holders, the Indenture Trustee and the other persons indemnified hereunder. Initially the Collection Account shall be divided into three subaccounts, which need not be separate accounts: a general subaccount (the “General Subaccount”), ; an excess funds subaccount (the “Excess Funds Subaccount”) and ); a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee Securities Intermediary as separate accounts. Such separate accounts Subaccounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of the Storm Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital LevelAmount. All Unless otherwise provided herein, all amounts in the Collection Account not allocated to any other subaccount Subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, Subaccount up to the Required Capital Level and any Capital Subaccount Investment EarningsAmount) shall be allocated to the General Subaccount. All references to the a Collection Account shall be deemed to include reference to all subaccounts Subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts Subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d) and (e8.02(e). The Collection Account shall at all times be maintained in an Eligible Account, Account and will be under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the applicable Collection Account for the purpose of making deposits in and withdrawals from the applicable Collection Account in accordance with this Indenture. Funds in the a Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, Indenture and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Collateral Trust Estate as herein provided. The Securities Intermediary Indenture Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior On or prior to the Closing Date, the Issuer shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office Trustee located at the Corporate Trust OfficeOffice of the Indenture Trustee, or at another Eligible Institution, one or more segregated non-interest bearing trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Collections Storm Recovery Charges and all other amounts received with respect to the Recovery Bond Collateral Trust Estate (the “Collection Account” and collectively, the “Collection Accounts”). The Indenture Trustee shall hold the Collection Account will consist for the benefit of the Holders, the Indenture Trustee and the other persons indemnified hereunder. Initially the Collection Account shall be divided into three subaccounts, which need not be separate accounts: a general subaccount (the “General Subaccount”), ; an excess funds subaccount (the “Excess Funds Subaccount”) and ); a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee Securities Intermediary as separate accounts. Such separate accounts Subaccounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of the Storm Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital LevelAmount. All Unless otherwise provided herein, all amounts in the Collection Account not allocated to any other subaccount Subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, Subaccount up to the Required Capital Level and any Capital Subaccount Investment EarningsAmount) shall be allocated to the General Subaccount. All references to the a Collection Account shall be deemed to include reference to all subaccounts Subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts Subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d) and (e8.02(e). The Collection Account shall at all times be maintained in an Eligible Account, Account and will be under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the applicable Collection Account for the purpose of making deposits in and withdrawals from the applicable Collection Account in accordance with this Indenture. Funds in the a Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, Indenture and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Collateral Trust Estate as herein provided. The Securities Intermediary Indenture Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Issuance Date, the Note Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Note Trustee’s office located at the 's Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Note Trustee’s 's name for the deposit of Estimated FRC Collections, FRC Collections RTC Charge Payments and all other amounts received with respect to remitted under the Recovery Bond Collateral Servicing Agreement (collectively, the “"Collection Account”"). The Note Trustee shall hold the Collection Account for the benefit of Noteholders, the Note Trustee and the other Persons indemnified hereunder or under the Fee and Indemnity Agreement. The Collection Account will consist of three subaccounts: four subaccounts (which need not be separate bank accounts): a general subaccount (the “"General Subaccount”"), a reserve subaccount (the "Reserve Subaccount"), an excess funds overcollateralization subaccount (the “Excess Funds "Overcollateralization Subaccount”") and a capital subaccount (the “"Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”"). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment Earningstogether with interest earnings thereon) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d) and (e)Section 8.02. The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Deposit Account and only the Indenture Note Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Note Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All Except as provided in Section 8.03, all moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Note Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Note Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Issuance Date, the Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Trustee’s office located at the 's Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s 's name for the deposit of Estimated FRC Collectionsamounts remitted to the Trustee for deposit therein on the Issuance Date, FRC Collections RRB Charge Payments and all other amounts received with respect to remitted under the Recovery Bond Collateral Servicing Agreement (collectively, the “"Collection Account”"). The Trustee shall hold the Collection Account for the benefit of Bondholders, the Trustee and the other Persons indemnified hereunder or under the Fee and Indemnity Agreement. The Collection Account will consist of three subaccounts: six subaccounts (which need not be separate bank accounts): a general subaccount (the “"General Subaccount”"), a reserve subaccount (the "Reserve Subaccount"), an excess funds overcollateralization subaccount (the “Excess Funds "Overcollateralization Subaccount”) and "), a capital subaccount (the “"Capital Subaccount” and"), together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate an interest reserve subaccount (each, the "Interest Reserve Subaccount") and a “Cash servicer advance subaccount (the "Servicer Advance Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level"). All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level Interest Reserve Subaccount and any Capital Subaccount Investment Earningsthe Servicer Advance Subaccount, together with interest earnings thereon) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d) and (e)this Section 8.02. The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Deposit Account and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All Except as provided in Section 8.03, all moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior On or prior to the Closing DateSeries Issuance Date for the first Series issued hereunder, the Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Bond Trustee’s office located at the 's Corporate Trust Office, or at another Eligible Institution, one or more non-interest bearing segregated trust accounts in the Indenture Bond Trustee’s 's name for (collectively, the deposit of Estimated FRC Collections, FRC Collections and all other amounts received with respect to the Recovery Bond Collateral (the “"Collection Account”"). The Collection Account will consist of three initially be divided into subaccounts, which need not be separate bank accounts: a general subaccount (the “"General Subaccount”"), an excess funds Overcollateralization subaccount (the “Excess Funds "Overcollateralization Subaccount”) and "), a capital subaccount (the “"Capital Subaccount” and, together with the General Subaccount ") and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate reserve subaccount (each, a “Cash the "Reserve Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”"). Prior to depositing funds or concurrently with U.S. Government Obligations in the issuance of Recovery BondsCollection Account pursuant to Sections 4.01 or 4.02, the Member Issuer shall deposit into establish defeasance subaccounts (each a "Defeasance Subaccount") for each Series for which funds shall be deposited, as subaccounts of the Capital Subaccount an amount equal to the Required Capital LevelCollection Account. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment Earnings) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d4.01, 4.02, 4.03 and 8.02(c) and (ed). The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Deposit Account and only the Indenture Bond Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Bond Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary Bond Trustee shall have no liability sole dominion and exclusive control over all moneys in respect of losses incurred the Collection Account and shall apply such amounts therein as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment directionprovided in this Section 8.02.

Collection Account. (a) Prior to the Closing Issuance Date, the Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Trustee’s office located at the 's Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s 's name for the deposit of Estimated FRC Collectionsamounts remitted to the Trustee for deposit therein on the Issuance Date, FRC Collections RRB Charge Payments and all other amounts received with respect to remitted under the Recovery Bond Collateral Servicing Agreement (collectively, the “"Collection Account”"). The Trustee shall hold the Collection Account for the benefit of Bondholders, the Trustee and the other Persons indemnified hereunder or under the Fee and Indemnity Agreement. The Collection Account will consist of three subaccounts: six subaccounts (which need not be separate bank accounts): a general subaccount (the “"General Subaccount”"), a reserve subaccount (the "Reserve Subaccount"), an excess funds overcollateralization subaccount (the “Excess Funds "Overcollateralization Subaccount”) and "), a capital subaccount (the “"Capital Subaccount” and"), together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate an interest reserve subaccount (each, the "Interest Reserve Subaccount") and a “Cash servicer advance subaccount (the "Servicer Advance Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level"). All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level Interest Reserve Subaccount and any Capital Subaccount Investment Earningsthe Servicer Advance Subaccount, together with interest earnings thereon) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections 8.02(d) and (e). this Collection Account.. The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Deposit Account and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All Except as provided in General Provisions Regarding the Collection Account., all moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing DateSeries ------------------- Issuance Date for the first Series issued hereunder, the Note Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Note Trustee’s office located at the 's Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Note Trustee’s 's name for the deposit of Estimated FRC CollectionsFTA Collections (collectively, FRC Collections and all other amounts received with respect to the Recovery Bond Collateral (the “"Collection Account”"). The Collection Account will consist of three four subaccounts: a general subaccount (the “"General Subaccount”"), an excess funds a reserve subaccount (the “Excess Funds "Reserve Subaccount”"), a subaccount for the Overcollateralization Amount (the "Overcollateralization Subaccount") and a capital subaccount (the “"Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”"). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment EarningsLevel) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (e). The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Deposit Account and only the Indenture Note Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Note Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. (a) Prior to the Closing Issuance Date, the Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more a segregated trust accounts account in the Indenture Trustee’s name for the deposit of Estimated FRC DRC Collections, FRC Collections DRC Payments, and all other amounts received with respect to the Recovery Bond Collateral [or the Swap Agreement] (the “Collection Account”). The Collection Account will consist of three four subaccounts: a general subaccount (the “General Subaccount”), an excess funds a reserve subaccount (the “Excess Funds Reserve Subaccount”) and ), an overcollateralization subaccount (the “Overcollateralization Subaccount”), a capital subaccount (the “Capital Subaccount” and, together with ”) [and a class subaccount for the General Subaccount and Class A- Bonds. Prior to depositing funds or U.S. Government Obligations in the Excess Funds SubaccountCollection Account pursuant to Section 4.02(b), the “Subaccounts”). Each Subaccount Issuer shall have establish a separate defeasance subaccount (each, a “Cash Defeasance Subaccount”) where cash allocated to the related Subaccount will be held. Only cash for which such funds and/or U.S. Government Obligations shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposesdeposited, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as subaccount of the “Collection Account”. Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment EarningsLevel) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections 8.02(dSection 8.02(c), (d) and (e). The Collection Account shall at all times be maintained in as an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Deposit Account and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Collateral securing the Bonds as herein provided. The Securities Intermediary Money in the Defeasance Subaccount shall have no liability be invested solely in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment directionU.S. Government Obligations.

Collection Account. (a) Prior to the Closing Date, the Issuer shall open or cause to be opened with the Securities Intermediary located at the Indenture Trustee’s office located at the Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s name for the deposit of Estimated FRC Collections, FRC Collections and all other amounts received with respect to the Recovery Bond Collateral (the “Collection Account”). The Collection Account will consist of three subaccounts: a general subaccount (the “General Subaccount”), an excess funds subaccount (the “Excess Funds Subaccount”) and a capital subaccount (the “Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. .” Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment Earnings) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (e). The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earnings, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.

Collection Account. The Buyer and Seller will establish and maintain during the term of this Agreement a collection account with Weststar Loan Servicing Corporation whose mailing address is P. O. Xxx 00000, Xxxxxxxx, XX 00000-0000, Phone: (a000) Prior 000-0000, or such other established collection agency (the ACollection Agent@) acceptable to the Closing Dateparties, the Issuer costs of which shall open or cause be paid by the Buyer. All payments required to be opened with made by the Securities Intermediary located at Buyer to the Indenture Trustee’s office located at Seller under this Agreement shall be made to the Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s name Collection Agent for the deposit account of Estimated FRC Collections, FRC Collections and all other amounts received with respect to the Recovery Bond Collateral (the “Collection Account”)Seller. The Collection Account Agent shall distribute moneys from the account over to the Seller or the Seller=s order, unless otherwise provided in the collection account agreement. The Collection Agent shall, however, hold in the collection account any portion of the "Additional Payments" that have not yet come due and then upon those Additional Payments becoming due shall disburse those funds in payment the applicable Property Cost before it becomes delinquent. The agreement with the Collection Agent shall provided that the Collection Agent gives a year-end statement of disbursements to the parties and an allocation of payments received as to principal, interest and Property Costs paid. Conversion to Purchase Money Mortgage: When the Buyer has paid 50% or more of the principal due on account of the Purchase Price due hereunder the Buyer may elect to have this Agreement of Sale converted to a Mortgage Loan Note and Purchase Money Mortgage on the Property and in such event the Seller shall convey the Property to the Buyer by way of Warranty Deed and concurrently the Buyer will consist sign and deliver to Seller a Mortgage Loan Note signed by Buyer which contains the same payment terms as provided for herein for the balance of three subaccounts: a general subaccount (the “General Subaccount”), an excess funds subaccount (the “Excess Funds Subaccount”) and a capital subaccount (the “Capital Subaccount” andprincipal that that still has not been paid hereunder, together with a Purchase Money Mortgage on the General Subaccount Property signed by Buyer and notarized such that it can be recorded concurrent with the recordation of the Warranty Deed as a first mortgage on the Property. In such event the Buyer shall pay for all costs relating to preparation of the Mortgage Loan Note and Mortgage, and recordation of the Warranty Deed and the Excess Funds SubaccountMortgage, and Seller shall pay for all costs relating to preparation of the Warranty Deed and the conveyance tax, if any. A new escrow shall used by the Seller and Buyer to accomplish the conversion of this Agreement of Sale in the manner provided for above with the Escrow Agent to either be the same as the Escrow Agent that handled the preparation and execution of this Agreement of Sale or as may be selected by the Seller. The Escrow Agents fees and costs, except as provided otherwise above, will be shared equally by the Seller and the Buyer. When requested by the Buyer, the “Subaccounts”). Each Subaccount shall have a separate subaccount (eachSeller will also provide, at Buyer=s expense, a “Cash Subaccount”) where cash allocated certificate from a reputable title company insuring or certifying that the Buyer will have clear title to the related Subaccount will be heldproperty. Only cash The Buyer may, at the Buyer's expense, obtain a certificate of title or title insurance policy protecting Buyer’s title. Special Provision re Cancellation of Agreement of Sale: The Buyer shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently also deposit with the issuance Collection Agent an executed Cancellation of Recovery Bonds, Agreement of Sale and the Member shall deposit into Buyer HEREBY INSTRUCTS the Capital Subaccount an amount equal Collection Agent to deliver the executed Cancellation of Agreement of Sale document to Seller upon demand made by Seller upon said Collection Agent if Buyer become more than 60 days delinquent in making the required payments under this Agreement of Sale according to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and any Capital Subaccount Investment Earnings) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts records of the Collection Account shall be made as set forth in Sections 8.02(d) and (e). The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earnings, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment directionAgent.

Collection Account. (a) Prior to the Closing DateSeries Issuance Date for the first Series of Notes issued hereunder, the Note Issuer shall open or cause to be opened with the Securities Intermediary located open, at the Indenture Trustee’s office located at the 's Corporate Trust Office, or at another Eligible Institution, one or more segregated trust accounts in the Indenture Trustee’s 's name for the deposit of Estimated FRC CollectionsActual IFC Collections (collectively, FRC Collections and all other amounts received with respect to the Recovery Bond Collateral (the “"Collection Account”"). The Collection Account will consist of three four subaccounts: a general subaccount (the “"General Subaccount”"), an excess funds a reserve subaccount (the “Excess Funds "Reserve Subaccount”"), a subaccount for the Overcollateralization Amount (the "Overcollateralization Subaccount") and a capital subaccount (the “"Capital Subaccount” and, together with the General Subaccount and the Excess Funds Subaccount, the “Subaccounts”"). Each Subaccount shall have a separate subaccount (each, a “Cash Subaccount”) where cash allocated to the related Subaccount will be held. Only cash shall be allocated to a Cash Subaccount and no other Recovery Bond Collateral shall be allocated to a Cash Subaccount. References to any Subaccount shall be deemed to include the related Cash Subaccount. For administrative purposes, the Subaccounts may be established by the Indenture Trustee as separate accounts. Such separate accounts will be recognized individually as a Subaccount and collectively as the “Collection Account”. Prior to or concurrently with the issuance of Recovery Bonds, the Member shall deposit into the Capital Subaccount an amount equal to the Required Capital Level. All amounts in the Collection Account not allocated to any other subaccount shall be allocated to the General Subaccount. Any cash transferred to, or arising under, a Subaccount will be held in the related Cash Subaccount. Prior to the Initial initial Payment Date, all amounts in the Collection Account (other than funds deposited into the Capital Subaccount, up to the Required Capital Level and for any Capital Subaccount Investment EarningsSeries of Notes) shall be allocated to the General Subaccount. All references to the Collection Account shall be deemed to include reference to all subaccounts contained therein. Withdrawals from and deposits to each of the foregoing subaccounts of the Collection Account shall be made as set forth in Sections Section 8.02(d) and (e). The Collection Account shall at all times be maintained in an Eligible Account, under the sole dominion and exclusive control of the Indenture Trustee, through the Securities Intermediary, Deposit Account and only the Indenture Trustee shall have access to the Collection Account for the purpose of making deposits in and withdrawals from the Collection Account in accordance with this Indenture. Funds in the Collection Account shall not be commingled with any other moneys. All moneys deposited from time to time in the Collection Account, including amounts not required to pay costs of issuance of Recovery Bonds transferred by the Issuer to the Indenture Trustee, all deposits therein pursuant to this Indenture, and all investments made in Eligible Investments as directed in writing by the Issuer with such moneys, including all income or other gain from such investments other than Capital Subaccount Investment Earningsinvestments, shall be held by the Indenture Trustee in the Collection Account as part of the Recovery Bond Note Collateral as herein provided. The Securities Intermediary shall have no liability in respect of losses incurred as a result of the liquidation of any Eligible Investment prior to its stated maturity or its date of redemption or the failure of the Issuer or the Servicer to provide timely written investment direction.