Common use of Regulatory Statement Clause in Contracts

Regulatory Statement. (a) The Company and each of its Utility Subsidiaries are being operated as separate corporate and legal entities. Each Holder of any Note by his acceptance thereof shall be deemed to have relied solely on the creditworthiness of the Company based on the assets owned by it, and agreed that the payment of the principal of and any premium and interest on such Note shall be made solely from the assets of the Company and not from any assets of any Utility Subsidiary. (b) Notwithstanding any other provision of this Indenture, each Holder of any Note by his acceptance thereof shall be deemed to have agreed not to take any steps for the purpose of procuring the appointment of an administrative receiver or the making of an administrative order for instituting any bankruptcy, reorganization, insolvency, wind up or liquidation or any like proceeding under applicable law in respect of any Utility Subsidiary. (c) For purposes of this Section 1.14, the term "Utility Subsidiary" means any Person that is a Subsidiary of the Company that is (i) subject to regulation as a public utility in any state and, (ii) whether in connection with such Person having become a Subsidiary of the Company or otherwise, the Company has agreed, whether in connection with obtaining requisite regulatory approvals in connection with such Person becoming a Subsidiary or otherwise, that the substance of this Section 1.14 be applicable. In each Officers' Certificate delivered pursuant to Section 10.04, the Company shall identify each of its Subsidiaries that are Utility Subsidiaries for purposes of this Section 1.14.

Regulatory Statement. (a) The Company and each of its Utility Subsidiaries are being operated as separate corporate and legal entities. Each Holder of any Note Unit by his acceptance thereof shall be deemed to have relied solely on the creditworthiness of the Company based on the assets owned by it, and agreed that the payment of the principal of and any premium and interest on Contract Adjustment Payments related to such Note Unit shall be made solely from the assets of the Company and not from any assets of any Utility Subsidiary. (b) Notwithstanding any other provision of this IndentureAgreement, each Holder of any Note Unit by his acceptance thereof shall be deemed to have agreed not to take any steps for the purpose of procuring the appointment of an administrative receiver or the making of an administrative order for instituting any bankruptcy, reorganization, insolvency, wind up or liquidation or any like proceeding under applicable law in respect of any Utility Subsidiary. (c) For purposes of this Section 1.143.18, the term "“Utility Subsidiary" ” means any Person that is a Subsidiary of the Company that is (i) subject to regulation as a public utility in any state and, (ii) whether in connection with such Person having become a Subsidiary of the Company or otherwise, the Company has agreed, whether in connection with obtaining requisite regulatory approvals in connection with such Person becoming a Subsidiary or otherwise, that the substance of this Section 1.14 3.18 be applicable. In each Officers' ’ Certificate delivered pursuant to Section 10.0410.05, the Company shall identify each of its Subsidiaries that are Utility Subsidiaries for purposes of this Section 1.143.18.