Irrevocable; Process Valid; No Litigation; Etc Sample Clauses
Irrevocable; Process Valid; No Litigation; Etc. (i) The Qualified Rate Order has been issued by the PUC in accordance with the Statute, such order and the process by which it was issued comply with all applicable laws, rules and regulations, and such order is in full force and effect.
(ii) As of the date of issuance of any Series of Transition Bonds, such Transition Bonds are entitled to the protections provided by the Statute and, accordingly, the provisions of the Qualified Rate Order relating to Intangible Transition Property and Intangible Transition Charges are not revocable by the PUC. (iii) (a) Under the Statute, neither the Commonwealth of Pennsylvania nor the PUC may limit, alter or in any way impair or reduce the value of Intangible Transition Property or Intangible Transition Charges approved by the Qualified Rate Order or any rights thereunder, except such a limitation or alteration may be made by the Commonwealth of Pennsylvania or the PUC if adequate compensation is made by law for the full protection of the Intangible Transition Charges and of Transition Bondholders; and (b) under the Contract Clauses of the Constitutions of the Commonwealth of Pennsylvania and the United States, the Commonwealth of Pennsylvania and the PUC cannot take any action that substantially impairs the rights of the Transition Bondholders unless such action is a reasonable exercise of the Commonwealth of Pennsylvania's sovereign powers and appropriate to further a legitimate public purpose, and, under the Takings Clauses of the Pennsylvania and United States Constitutions, in the event such action constitutes a permanent appropriation of the property interest of Transition Bondholders in the Intangible Transition Property and deprives the Transition Bondholders of their reasonable expectations arising from their investments in Transition Bonds, unless just compensation, as determined by a court of
Irrevocable; Process Valid; No Litigation; Etc. (a) The Financing Order has been issued by the PSCWV in accordance with the Statute and in compliance with all applicable Requirements of Law. The Financing Order became effective pursuant to the Statute, is in full force and effect and is final and nonappealable
(b) As of the date of issuance of any Series of Environmental Control Bonds, such Environmental Control Bonds are entitled to the protections provided by the Statute, the Financing Order is not subject to impairment, and the rights to impose, collect and adjust the Environmental Control Charges are irrevocable and not subject to impairment or adjustment, except for the periodic True-Up Adjustments to the Environmental Control Charges provided for in the Financing Order.
(c) Under the Statute, the State of West Virginia has pledged (the “State Pledge”) that it will not take or permit any action that impairs the value of the Environmental Control Property or, except as allowed in connection with the True-Up Adjustments, reduce, alter or impair the Environmental Control Charges that are imposed, collected or remitted for the benefit of the Environmental Control Bondholders, until any principal, interest and redemption premium in respect of the Environmental Control Bonds, all financing costs and all amounts to be paid under any ancillary agreement are paid or performed in full, or other charges incurred or contracts to be performed in connection with the Environmental Control Bonds are paid or performed in full.
(d) Under the Contract Clauses of the Constitutions of the State of West Virginia and the United States, the State of West Virginia could not, absent a demonstration that such action was necessary to serve a significant and legitimate public purpose, repeal or amend the Statute, nor could the State of West Virginia (or the PSCWV in exercising its legislative powers) take any action or fail to take any action required by the State Pledge if the repeal or amendment, or the action or inaction, would substantially limit, alter, impair or reduce the value of the Environmental Control Property or the Environmental Control Charges.
(e) Under applicable West Virginia constitutional principles relating to the impairment of liens, the State of West Virginia could not enact legislation (other than a law passed by the State of West Virginia in the valid exercise of the state’s police power) that repeals the State Pledge or limits, alters, impairs or reduces the value of the Environmental Control Property...
Irrevocable; Process Valid; No Litigation; Etc. (i) The Financing Order has been issued by the PSCWV in accordance with the Statute, the Financing Order and the process by which it was issued comply with all applicable Requirements of Law, and Order is in full force and effect, final, and not subject to appeal by any Person.
(ii) As of the date of issuance of any Series of Environmental Control Bonds, such Environmental Control Bonds are entitled to the protections provided by the Statute and, accordingly, the provisions of the Financing Order relating to Environmental Control Property and Environmental Control Charges are not revocable by the PSCWV.
(iii) (A) Under the Statute, the State of West Virginia has pledged (the “State Pledge”) that it will not take or permit any action that impairs the value of Environmental Control Property or, except as allowed in connection with the True-Up Adjustments, reduce, alter or impair Environmental Control Charges that are imposed, collected and remitted for the benefit of the Environmental Control Bondholders, until any principal, interest and redemption premium in respect of the Environmental Control Bonds, all financing costs and all amounts to be paid under any ancillary agreement are paid or performed in full. (B) Under the Contract Clauses of the Constitutions of the State of West Virginia and the United States, the State of West Virginia could not, absent a demonstration that such action was necessary to serve a significant and legitimate public purpose, repeal or amend the Statute, nor could the State of West Virginia (or the PSCWV in exercising its legislative powers) take any action or fail to take any action required by the State Pledge if the repeal or amendment, or the action or inaction, would substantially limit, alter, impair or reduce the value of the Environmental Control Property or the Environmental Control Charges.
Irrevocable; Process Valid; No Litigation; Etc. (i) The Qualified Rate Order has been issued by the PUC in accordance with the Statute, such order and the process by which it was issued comply with all applicable laws, rules and regulations, and such order is in full force and effect.
(ii) As of the date of issuance of any Series of Transition Bonds, such Transition Bonds are entitled to the protections provided by the Statute and, accordingly, the provisions of the Qualified Rate Order relating to Intangible Transition Property and Intangible Transition Charges are not revocable by the PUC. (iii) (a) Under the Statute, neither the Commonwealth of Pennsylvania nor the PUC may limit, alter or in any way impair or reduce the value of Intangible Transition Property or
Irrevocable; Process Valid; No Litigation; Etc. (i) The Qualified Rate Order has been issued by the PUC in accordance with the Statute, such order and the process by which it was issued comply with all applicable laws, rules and regulations, and such order is in full force and effect.
Irrevocable; Process Valid; No Litigation; Etc. (i) The Financing Order has been issued by the PSCWV in accordance with the Statute; the Financing Order and the process by which it was issued comply with all applicable Requirements of Law; and the Financing Order is in full force and effect, final, and not subject to appeal by any Person.
(ii) As of the date of issuance of any Series of Environmental Control Bonds, such Environmental Control Bonds are entitled to the protections provided by the Statute and, accordingly, the provisions of the Financing Order relating to Environmental Control Property and Environmental Control Charges are not revocable by the PSCWV.
(iii) (A) Under the Statute, the State of West Virginia has pledged (the “State Pledge”) that it will not take or permit any action that impairs the value of Environmental Control Property or, except as allowed in connection with the True-Up Adjustments, reduce, alter or impair Environmental Control Charges that are imposed, collected and remitted for the benefit of the Environmental Control Bondholders, until any principal, interest and redemption premium in respect of the Environmental Control Bonds, all financing costs and all amounts to be paid under any ancillary agreement are paid or performed in