Common use of Conditions to Execution Clause in Contracts

Conditions to Execution. The following conditions shall have been satisfied prior to the Effective Date: (i) receipt by the Parties of an Energy Compliance Certificate issued by PREB; (ii) receipt by the Parties of a resolution adopted by the board of directors of Administrator, in form and substance reasonably acceptable to Administrator and ManagementCo, authorizing the execution, delivery and performance of this Agreement and the transactions contemplated hereby; (iii) receipt by the Parties of a resolution adopted by the board of directors of Owner, in form and substance reasonably acceptable to Administrator and ManagementCo, authorizing the execution, delivery and performance of this Agreement and the transactions contemplated hereby; (iv) receipt by the Parties of authorization from the FOMB, in form and substance reasonably acceptable to Administrator and ManagementCo, of the execution, delivery and performance of this Agreement and the transactions contemplated hereby; (v) receipt by the Parties of approval from the Governor of the Commonwealth or his/her delegate, in form and substance reasonably acceptable to Administrator and ManagementCo, for the execution, delivery and performance of this Agreement and the transactions contemplated hereby; (vi) receipt by Owner of the Guarantee; (vii) receipt by Owner of a copy of a certificate as to certain matters of Commonwealth law in the form set forth as Exhibit B (Form of Commonwealth Certifications), duly executed by Operator; (viii) receipt by Owner of a Tax Opinion and receipt by ManagementCo of a Reliance Letter; (ix) evidence reasonably satisfactory to Operator that an amount equal to at least four and a half (4.5) months of the estimated Front-End Transition Service Fee has been deposited by Owner in the Front-End Transition Account; and (x) receipt by ManagementCo of (A) a list of the project worksheets related to the T&D System prepared by FEMA pursuant to Section 428 of the ▇▇▇▇▇▇▇▇ Act as of such date or (B) a summary of the costs estimates or preliminary costs estimates for Federally Funded Capital Improvements established as of such date.

Conditions to Execution. The following conditions shall have been satisfied prior to the Effective Date: (i) receipt by the Parties of an Energy Compliance Certificate issued by PREB; (ii) receipt by the Parties of a resolution adopted by the board of directors of Administrator, in form and substance reasonably acceptable to Administrator and ManagementCoOperator, authorizing the execution, delivery and performance of this Agreement and the transactions contemplated hereby; (iii) receipt by the Parties of a resolution adopted by the board of directors of Owner, in form and substance reasonably acceptable to Administrator and ManagementCoOperator, authorizing the execution, delivery and performance of this Agreement and the transactions contemplated hereby; (iv) receipt by the Parties of authorization from the FOMB, in form and substance reasonably acceptable to Administrator and ManagementCoOperator, of the execution, delivery and performance of this Agreement and the transactions contemplated hereby; (v) receipt by the Parties of approval from the Governor of the Commonwealth or his/her delegate, in form and substance reasonably acceptable to Administrator and ManagementCoOperator, for the execution, delivery and performance of this Agreement and the transactions contemplated hereby; (vi) receipt by Owner of the Guarantee; (vii) receipt by Owner of a copy of a certificate as to certain matters of Commonwealth law in the form set forth as Exhibit B E (Form of Commonwealth Certifications), duly executed by Operator; (viii) receipt by Owner of a Tax Opinion in the form set forth as Exhibit D (Form of Tax Opinion – Effective Date) and receipt by ManagementCo Operator of a Reliance Letter; (ix) evidence reasonably satisfactory to Operator that an amount equal to at least four and a half (4.5) months of the estimated Front-End Transition Service Fee has been deposited receipt by Owner in the Front-End Transition Account; andof a Sworn Statement executed by Operator; (x) Operator’s receipt by ManagementCo of (A) a list of, and written agreement to be subject to, the obligations under the Consent Decree and the jurisdiction of the project worksheets related to United States District Court for the T&D System prepared District of Puerto Rico in connection with the Consent Decree. Such written agreement shall contain the acknowledgement required by FEMA pursuant to Section 428 of the ▇▇▇▇▇▇▇▇ Act as of such date or 20.2(i) (B) a summary of the costs estimates or preliminary costs estimates for Federally Funded Capital Improvements established as of such date.