Common use of Expected Amortization Schedule for Principal Clause in Contracts

Expected Amortization Schedule for Principal. Except in the case of an optional redemption pursuant to Section 10.01 of the Indenture, unless an acceleration upon an Event of Default has occurred and is continuing and the unpaid principal amount of all Series of Transition Bonds has been declared to be due and payable together with accrued and unpaid interest thereon, on each Payment Date the Trustee shall distribute to the Series 2002-1 Transition Bondholders of record as of the related Record Date the amounts payable as principal on the Series 2002-1 Transition Bonds in accordance with the Expected Amortization Schedule; provided that if as of such Payment Date one or more Classes of Series 2002-1 Transition Bonds did not receive a scheduled payment of principal on a previous Payment Date and amounts are payable in respect of more than one such Class in accordance with the Expected Amortization Schedule, principal payments shall be allocated in a sequential manner as follows: (i) to the holders of Series 2002-1 Transition Bonds, Class A-1, until this Class is retired in full; (ii) to the holders of Series 2002-1 Transition Bonds, Class A-2, until this Class is retired in full; (iii) to the holders of Series 2002-1 Transition Bonds, Class A-3, until this Class is retired in full; and (iv) to the holders of Series 2002-1 Transition Bonds, Class A-4, until this Class is retired in full; provided, further, that no principal payment shall be made on any Class of Series 2002-1 Transition Bonds in excess of the amount necessary to reduce the Outstanding Amount of such Class to the amount specified for such Class and such Payment Date in the Expected Amortization Schedule. In the case of an optional redemption pursuant to Section 10.01 of the Indenture or an acceleration upon an Event of Default pursuant to Section 5.02 of the Indenture, if the amounts available to make payments of principal on the Series 2002-1 Transition Bonds are insufficient to make such payments in full, the Trustee shall pay principal on each Class of the Series 2002-1 Transition Bondholders pro rata based on the Outstanding Amount of each such Class as of such date, if such date is a Payment Date, and otherwise as of the most recent Payment Date after giving effect to all payments of principal made to the Holders of Transition Bonds as of such most recent Payment Date.

Expected Amortization Schedule for Principal. Except in the case of an optional redemption pursuant to Section 10.01 or 10.02 of the Indenture, unless an acceleration upon an Event of Default has occurred and is continuing and the unpaid principal amount of all Series of Transition Bonds has been declared to be due and payable together with accrued and unpaid interest thereon, on each Payment Date the Trustee shall distribute to the Series 2002-1 Transition Bondholders of record as of the related Record Date the amounts payable as principal on the Series 2002-1 Transition Bonds in accordance with the Expected Amortization Schedule; provided that if as of such Payment Date one or more Classes of Series 2002-1 Transition Bonds did not receive a scheduled payment of principal on a previous Payment Date and amounts are payable in respect of more than one such Class in accordance with the Expected Amortization Schedule, principal payments shall be allocated in a sequential manner as follows: (i) to the holders of Series 2002-1 Transition Bonds, Class A-1, until this Class is retired in full; (ii) to the holders of Series 2002-1 Transition Bonds, Class A-2, until this Class is retired in full; (iii) to the holders of Series 2002-1 Transition Bonds, Class A-3, until this Class is retired in full; and (iv) to the holders of Series 2002-1 Transition Bonds, Class A-4, until this Class is retired in full; provided, further, that no principal payment shall be made on any Class of Series 2002-1 Transition Bonds in excess of the amount necessary to reduce the Outstanding Amount of such Class to the amount specified for such Class and such Payment Date in the Expected Amortization Schedule. In the case of an optional redemption pursuant to Section 10.01 or 10.02 of the Indenture or an acceleration upon an Event of Default pursuant to Section 5.02 of the Indenture, if the amounts available to make payments of principal on the Series 2002-1 Transition Bonds are insufficient to make such payments in full, the Trustee shall pay principal on each Class of the Series 2002-1 Transition Bondholders pro rata based on the Outstanding Amount of each such Class as of such date, if such date is a Payment Date, and otherwise as of the most recent Payment Date after giving effect to all payments of principal made to the Holders of Transition Bonds as of such most recent Payment Date.

Expected Amortization Schedule for Principal. Except in the case of an optional redemption pursuant to Section 10.01 of the Indenture, unless an acceleration upon an Event of Default has occurred and is continuing and the unpaid principal amount of all Series of Transition Bonds has been declared to be due and payable together with accrued and unpaid interest thereon, on each Payment Date the Trustee shall distribute reduced to the Series 2002-1 Transition Bondholders of record as of the related Record Date the amounts payable as principal on the Series 2002-1 Transition Bonds balance indicated in accordance with the Expected Amortization Schedule; provided that if as of Schedule on such Payment Date one or more Date, then such Classes of Series 2002-1 Transition Bonds did not receive a scheduled payment will be (i) allocated funds to make up such shortfalls prior to any Classes receiving funds in respect of principal scheduled to be paid on a previous the current Payment Date and amounts are payable (ii) allocated funds in respect of more than one prior shortfalls on a pro rata basis based on the amount of such Class in accordance with the Expected Amortization Schedule, principal payments shall be allocated in a sequential manner as follows: (i) to the holders of Series 2002-1 Transition Bonds, Class A-1, until this Class is retired in full; (ii) to the holders of Series 2002-1 Transition Bonds, Class A-2, until this Class is retired in full; (iii) to the holders of Series 2002-1 Transition Bonds, Class A-3, until this Class is retired in full; and (iv) to the holders of Series 2002-1 Transition Bonds, Class A-4, until this Class is retired in fullshortfalls; provided, furtherhowever, that other than in the event of a redemption in no event shall a principal payment shall be made pursuant to this Section 4(b) on any Class of Series 2002-1 Transition Bonds in excess of on a Payment Date be greater than the amount necessary to reduce that reduces the Outstanding Amount of such Class of Series 1999-A Transition Bonds to the amount specified in the Expected Amortization Schedule which is attached as Schedule B hereto for such Class and Payment Date. Not later than each Schedule Revision Date, the Issuer shall deliver to the Bond Trustee a replacement Schedule B hereto, adjusted to reflect the event giving rise to such Payment Schedule Revision Date in and setting forth the Expected Amortization Schedule. In the case of an optional redemption pursuant to Section 10.01 of the Indenture or an acceleration upon an Event of Default pursuant to Section 5.02 of the IndentureSchedule for each Payment Date; provided, however, that no such replacement schedule shall be required if the amounts available event giving rise to make payments of principal on the Series 2002-1 Transition Bonds are insufficient to make such payments in full, the Trustee shall pay principal on each Class Schedule Revision Date is a redemption of the Series 20021999-1 Transition Bondholders pro rata based on the Outstanding Amount of each such Class as of such date, if such date is a Payment Date, and otherwise as of the most recent Payment Date after giving effect to all payments of principal made to the Holders of A Transition Bonds as of such most recent Payment Datein whole.

Expected Amortization Schedule for Principal. Except in the case of an optional redemption pursuant to Section 10.01 of the Indenture, unless an acceleration upon Unless an Event of Default has occurred and is continuing and the unpaid principal amount of all Series Tranches of Transition Bonds has been declared to be due and payable together with accrued and unpaid interest thereon, on each Payment Date the Trustee shall distribute to the Series 2002-1 Transition Bondholders Holders of record of the Bonds as of the related Record Date the amounts payable in respect of the Bonds pursuant to Section 8.02(d) of the Indenture as principal on Principal, so that the Series 2002-1 Transition Bonds in accordance with the Expected Amortization Schedule; provided that if outstanding Principal balance as of such Payment Date one or more Classes of Series 2002-1 Transition Bonds did not receive a scheduled payment of principal on a previous Payment Date and amounts are payable in respect of more than one such Class in accordance with the Expected Amortization Schedule, principal payments shall be allocated in a sequential manner as follows: (i) to the holders of Series 2002-1 Transition Bonds, Class A-1, until this Class is retired in full; (ii) to the holders of Series 2002-1 Transition Bonds, Class A-2, until this Class is retired in full; (iii) to the holders of Series 2002-1 Transition Bonds, Class A-3, until this Class is retired in full; and (iv) to the holders of Series 2002-1 Transition Bonds, Class A-4, until this Class is retired in full; provided, further, that no principal payment shall be made on any Class of Series 2002-1 Transition Bonds in excess of the amount necessary to reduce the Outstanding Amount of such Class to the amount specified for such Class and such Payment Date in the Expected Amortization Schedule. In the case of an optional redemption pursuant to Section 10.01 of the Indenture or an acceleration upon an Event of Default pursuant to Section 5.02 of the Indenture, if the amounts available to make payments of principal on the Series 2002-1 Transition Bonds are insufficient to make such payments in full, the Trustee shall pay principal on each Class of the Series 2002-1 Transition Bondholders pro rata based on the Outstanding Amount of each such Class as of such date, if such date is a Payment Date, and otherwise as of the most recent Payment Date after giving effect to all payments of principal Principal, if any, made on such Payment Date) has been reduced to the Holders extent possible to the Principal balance specified in the Expected Amortization Schedule but not less than such Principal balance. Unless an Event of Transition Default has occurred and is continuing and the unpaid principal amount of all Tranches of Bonds as has been declared to be due and payable together with accrued and unpaid interest thereon, payments of such most recent Principal on any Tranche A-2 Bonds shall not be made on any Payment DateDate until the Principal balance of the Tranche A-1 Bonds has been reduced to zero, and payments of Principal on any Tranche A-3 Bonds shall not be made on any Payment Date until the Principal balance of the Tranche A-2 Bonds and the Tranche A-1 Bonds has been reduced to zero; provided, however, that payments of Principal on the Tranche A-2 Bonds may be made on the Payment Date that the Principal balance of the Tranche A-1 Bonds has been reduced to zero, and payments of Principal on the Tranche A-3 Bonds may be made on the Payment Date that the Principal balance of the Tranche A-2 Bonds has been reduced to zero.

Expected Amortization Schedule for Principal. Except in the case of an optional redemption pursuant to Section 10.01 or 10.02 of the Indenture, unless an acceleration upon an Event of Default has occurred and is continuing and the unpaid principal amount of all Series of Transition Bonds has been declared to be due and payable together with accrued and unpaid interest thereon, on each Payment Date the Trustee shall distribute to the Series 20022003-1 Transition Bondholders of record as of the related Record Date the amounts payable as principal on the Series 20022003-1 Transition Bonds in accordance with the Expected Amortization Schedule; provided that if as of such Payment Date one or more Classes of Series 20022003-1 Transition Bonds did not receive a scheduled payment of principal on a previous Payment Date and amounts are payable in respect of more than one such Class in accordance with the Expected Amortization Schedule, principal payments shall be allocated in a sequential manner as follows: (i) to the holders of Series 20022003-1 Transition Bonds, Class A-1, until this Class is retired in full; (ii) to the holders of Series 20022003-1 Transition Bonds, Class A-2, until this Class is retired in full; and (iii) to the holders of Series 20022003-1 Transition Bonds, Class A-3, until this Class is retired in full; and (iv) to the holders of Series 2002-1 Transition Bonds, Class A-4, until this Class is retired in full; provided, further, that no principal payment shall be made on any Class of Series 20022003-1 Transition Bonds in excess of the amount necessary to reduce the Outstanding Amount of such Class to the amount specified for such Class and such Payment Date in the Expected Amortization Schedule. In the case of an optional redemption pursuant to Section 10.01 or 10.02 of the Indenture or an acceleration upon an Event of Default pursuant to Section 5.02 of the Indenture, if the amounts available to make payments of principal on the Series 20022003-1 Transition Bonds are insufficient to make such payments in full, the Trustee shall pay principal on each Class of the Series 20022003-1 Transition Bondholders pro rata based on the Outstanding Amount of each such Class as of such date, if such date is a Payment Date, and otherwise as of the most recent Payment Date after giving effect to all payments of principal made to the Holders of Transition Bonds as of such most recent Payment Date.

Expected Amortization Schedule for Principal. Except in the case of an optional redemption pursuant to Section 10.01 of the Indenture, unless an acceleration upon Unless an Event of Default has shall have occurred and is be continuing and the unpaid principal amount of all Series of Transition Bonds has been declared to be due and payable together with accrued and unpaid interest thereon, on each Payment Date Date, the Bond Trustee shall distribute to the Series 20021999-1 A Transition Bondholders of record as of the related Record Date the amounts payable as principal on in respect of the Series 20021999-1 A Transition Bonds pursuant to Section 8.02(e) of the Indenture as principal, in accordance with the Expected Amortization Schedule; provided . To the extent that if as of such Payment Date one or more Classes of Series 2002-1 Transition Bonds did not receive a scheduled payment of principal on a previous Payment Date and amounts are payable in respect of more than one such Class of the Series 1999-A Transition Bonds is to receive payments of principal in accordance with the Expected Amortization ScheduleSchedule on any Payment Date, principal payments shall such amounts will be allocated pro rata between such Classes based on the principal scheduled to be paid to such Classes in accordance with the Expected Amortization Schedule on such Payment Date; provided, however, that if one or more Classes did not receive principal on the prior Payment Date and as a sequential manner as follows: result their Class Principal Balance was not reduced to the balance indicated in the Expected Amortization Schedule on such Payment Date, then such Classes will be (i) allocated funds from the Series 1999-A Subaccount to make up such shortfalls prior to any Classes receiving funds in respect of principal scheduled to be paid on the holders of Series 2002-1 Transition Bonds, Class A-1, until this Class is retired in full; current Payment Date and (ii) to allocated funds from the holders Series 1999-A Subaccount in respect of Series 2002-1 Transition Bonds, Class A-2, until this Class is retired in full; (iii) to prior shortfalls on a pro rata basis based on the holders amount of Series 2002-1 Transition Bonds, Class A-3, until this Class is retired in full; and (iv) to the holders of Series 2002-1 Transition Bonds, Class A-4, until this Class is retired in fullsuch shortfalls; provided, furtherhowever, that other than in the event of a redemption in no event shall a principal payment shall be made pursuant to this Section 4(b) on any Class of Series 2002-1 Transition Bonds in excess of on a Payment Date be greater than the amount necessary to reduce that reduces the Outstanding Amount of such Class of Series 1999-A Transition Bonds to the amount specified in the Expected Amortization Schedule which is attached as Schedule A hereto for such Class and such Payment Date in the Expected Amortization Schedule. In the case of an optional redemption pursuant to Section 10.01 of the Indenture or an acceleration upon an Event of Default pursuant to Section 5.02 of the Indenture, if the amounts available to make payments of principal on the Series 2002-1 Transition Bonds are insufficient to make such payments in full, the Trustee shall pay principal on each Class of the Series 2002-1 Transition Bondholders pro rata based on the Outstanding Amount of each such Class as of such date, if such date is a Payment Date, and otherwise as of the most recent Payment Date after giving effect to all payments of principal made to the Holders of Transition Bonds as of such most recent Payment Date.

Expected Amortization Schedule for Principal. Except in the case of an optional redemption pursuant to Section 10.01 of the Indenture, unless an acceleration upon Unless an Event of Default has shall have occurred and is be continuing and the unpaid principal amount of all Series of Transition Bonds and accrued interest thereon has been declared to be due and payable together with accrued and unpaid interest thereonpayable, on each Payment Date Date, the Trustee shall distribute pay to the Series 2002-1 Transition Bondholders of record as of the related Record Date the amounts payable pursuant to On any Business Day upon which the Trustee receives a written request from the Administrator stating that any Operating Expense payable by the Issuer (but only as principal on described in clauses (i) through (iv) below) will become due and payable prior to the Series 2002-1 Transition Bonds in accordance with next succeeding Payment Date, and setting forth the Expected Amortization Schedule; provided that if as amount and nature of such Payment Date one or more Classes Operating Expenses, as well as any supporting documentation that the Trustee may reasonably request, the Trustee, upon receipt of Series 2002-1 Transition Bonds did not receive a scheduled such information, will make payment of principal such Operating Expenses on a previous Payment Date or before the date such payment is due from amounts on deposit in the General Subaccount, the Reserve Subaccount, the Overcollateralization Subaccount and amounts are payable the Capital Subaccount, in respect of more than one that order and only to the extent required to make such Class payment. as principal, in accordance with the Expected Amortization Schedule, principal payments shall be allocated in a sequential manner as followsfollowing order and priority: (i1) to the holders of Series 2002-1 Transition the Class A-1 Bonds, Class A-1, until this Class is retired in full; (ii) to the holders of Series 2002-1 Transition Bonds, Class A-2, until this Class is retired in full; (iii) to the holders of Series 2002-1 Transition Bonds, Class A-3, until this Class is retired in full; and (iv) to the holders of Series 2002-1 Transition Bonds, Class A-4, until this Class is retired in full; provided, further, that no principal payment shall be made on any Class of Series 2002-1 Transition Bonds in excess of the amount necessary to reduce the Outstanding Amount of such Class of Bonds thereof has been reduced to zero; (2) to the holders of the Class A-2 Bonds, until the Outstanding Amount of such Class of Bonds thereof has been reduced to zero; and (3) to the holders of the Class A-3 Bonds, until the Outstanding Amount of such Class of Bonds thereof has been reduced to zero; provided, however, that in no event shall a principal payment pursuant to this on any Class on a Payment Date be greater than the amount that reduces the Outstanding Amount of such Class of bonds to the amount specified for such Class and such Payment Date in the Expected Amortization ScheduleSchedule for such Payment Date. In the case of an optional redemption pursuant to Section 10.01 of the Indenture or an acceleration upon an Event of Default pursuant to Section 5.02 of the Indenture, if the amounts available to make Partial payments of principal on the Series 2002-1 Transition Bonds are insufficient to make such payments in full, the Trustee any scheduled amortization payment shall pay principal on each be allocated within any Class of the Series 2002-1 Transition Bondholders Bonds pro rata based on the Outstanding Amount of each such Class as of such date, if such date is a Payment Date, and otherwise as of the most recent Payment Date after giving effect to all payments of principal made to the Holders of Transition Bonds as of such most recent Payment Daterata.

Expected Amortization Schedule for Principal. Except in the case of an optional redemption pursuant to Section 10.01 of the Indenture, unless an acceleration upon Unless an Event of Default has occurred and is continuing and the unpaid principal amount of all Tranches of Senior Secured Transition Bonds, Series of Transition Bonds A has been declared to be due and payable together with accrued and unpaid interest thereon, on each Payment Date the Trustee shall distribute to the Series 2002-1 Transition Bondholders Holders of record of the Senior Secured Transition Bonds, Series A as of the related Record Date the amounts payable in respect of the Senior Secured Transition Bonds, Series A pursuant to Section 8.02(d) of the Indenture as principal on the Series 2002-1 Transition Bonds Principal, in accordance with the Expected Amortization Schedule; provided . To the extent that if as of such Payment Date one or more Classes of Series 2002-1 Transition Bonds did not receive a scheduled payment of principal on a previous Payment Date and amounts are payable in respect of more than one such Class Tranche of the Senior Secured Transition Bonds, Series A is to receive payments of Principal in accordance with the Expected Amortization ScheduleSchedule on any Payment Date, principal payments shall such amounts will be allocated Pro Rata between such Tranches based on the Principal scheduled to be paid to such Tranches in a sequential manner as follows: (i) to accordance with the holders of Series 2002-1 Transition Bonds, Class A-1, until this Class is retired in full; (ii) to the holders of Series 2002-1 Transition Bonds, Class A-2, until this Class is retired in full; (iii) to the holders of Series 2002-1 Transition Bonds, Class A-3, until this Class is retired in full; and (iv) to the holders of Series 2002-1 Transition Bonds, Class A-4, until this Class is retired in fullExpected Amortization Schedule on such Payment Date; provided, furtherhowever, that no principal payment shall be made if one or more Tranches did not receive Principal on any Class of Series 2002-1 Transition Bonds in excess of the amount necessary to reduce prior Payment Date and as a result the aggregate Outstanding Amount of such Class Tranche or Tranches was not reduced to the amount specified for such Class and such Payment Date balance indicated in the Expected Amortization Schedule. In the case of an optional redemption pursuant to Section 10.01 of the Indenture or an acceleration upon an Event of Default pursuant to Section 5.02 of the Indenture, if the amounts available to make payments of principal Schedule on the Series 2002-1 Transition Bonds are insufficient to make such payments in full, the Trustee shall pay principal on each Class of the Series 2002-1 Transition Bondholders pro rata based on the Outstanding Amount of each such Class as of such date, if such date is a Payment Date, and otherwise as of the most recent Payment Date after giving effect to all payments of principal made to the Holders of Transition Bonds as of then such most recent Payment Date.Tranches will be: