Common use of Notification of Laws and Regulations Clause in Contracts

Notification of Laws and Regulations. Upon acquiring actual knowledge thereof in the course of its performance of duties in accordance with the terms hereof, the Servicer shall immediately notify the Issuer, the LPSC, the Trustee and each Rating Agency in writing of any laws or LPSC Regulations, orders or directions hereafter promulgated or LPSC proceedings hereafter initiated related to the Financing Order that have, or in the case of LPSC proceedings, may have a material adverse effect on the Servicer's ability to perform its duties under this Agreement.

Notification of Laws and Regulations. Upon acquiring actual knowledge thereof in the course of its performance of duties in accordance with the terms hereof, the Servicer shall immediately notify the Issuer, the LPSC, the Trustee and each Rating Agency in writing of any laws or LPSC Regulations, orders or directions hereafter promulgated or LPSC proceedings hereafter initiated related to the Financing Order that have, or in the case of LPSC proceedings, may have a material adverse effect on the Servicer's ’s ability to perform its duties under this Agreement.