Limited Liability and Bankruptcy Remoteness. Without limiting the generality of Section 2.9, the Company shall be operated in such a manner as the Managers deem reasonable and necessary or appropriate to preserve (a) the limited liability of PSE&G (or its successor) as the Member in the Company and the limited liability of the Special Member, (b) the separateness of the Company from the business of PSE&G (or its successor), as the Member of the Company, or any other Affiliate thereof and (c) until the expiration of the period of one year and one day specified in Section 9.5, the bankruptcy-remote status of the Company.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (PSE&G Transition Funding II LLC), Limited Liability Company Agreement (PSE&G Transition Funding II LLC)
Limited Liability and Bankruptcy Remoteness. Without limiting the generality of Section 2.92.09, the Company shall be operated in such a manner as the Managers deem reasonable and necessary or appropriate to preserve (a) the limited liability of PSE&G (or its successor) as the Member in the Company and the limited liability of the Special MemberMembers, (b) the separateness of the Company from the business of PSE&G (or its successor), as the Member of the Company, or any other Affiliate thereof and (c) until the expiration of the period of one year and one day specified in Section 9.59.05, the bankruptcy-remote status of the Company.
Appears in 2 contracts
Samples: Pse&g Transition Funding LLC, Pse&g Transition Funding LLC
