Common use of Remittances Clause in Contracts

Remittances. (a) The Storm Recovery Charge Collections deemed collected on any Servicer Business Day (the “Daily Remittance”) shall be calculated according to the procedures set forth in Exhibit A and remitted by the Servicer as soon as reasonably practicable to the General Subaccount of the Collection Account but in no event later than two Servicer Business Days following such Servicer Business Day. Prior to each remittance to the General Subaccount of the Collection Account pursuant to this Section 6.11, the Servicer shall provide written notice (which may be via electronic means, including electronic mail) to the Indenture Trustee and, upon request, to the Issuer of each such remittance (including the exact dollar amount to be remitted). The Servicer shall also, promptly upon receipt, remit to the Collection Account any other proceeds of the Storm Recovery Collateral that it may receive from time to time. Reconciliations of bank statements shall be as set forth in Exhibit A. (b) The Servicer agrees and acknowledges that it holds all Storm Recovery Charge Payments collected by it and any other proceeds for the Storm Recovery Collateral received by it for the benefit of the Indenture Trustee and the Holders and that all such amounts will be remitted by the Servicer in accordance with this Section 6.11 without any surcharge, fee, offset, charge or other deduction except for and investment earnings permitted by Section 6.06. The Servicer further agrees not to make any claim to reduce its obligation to remit all Storm Recovery Charge Payments collected by it in accordance with this Servicing Agreement. (c) Unless otherwise directed to do so by the Issuer, the Servicer shall be responsible for selecting Eligible Investments in which the funds in the Collection Account shall be invested pursuant to Section 8.03 of the Indenture.

Remittances. (a) The Storm Recovery Charge On each Servicer Business Day, commencing on the Billing Commencement Date, the Servicer shall remit to the Indenture Trustee for further credit to the General Subaccount the total FRC Collections deemed collected received by the Servicer from or on any behalf of Consumers on such Servicer Business Day in respect of all previously billed Fixed Recovery Charges (the “Daily Remittance”) ), which Daily Remittance shall be calculated determined according to the procedures set forth in Exhibit A Annex I and shall be remitted by the Servicer as soon as reasonably practicable to the General Subaccount of the Collection Account but in no event later than two the second Servicer Business Days following Day after such Servicer Business Daypayments have been received. Prior to each remittance of Fixed Recovery Charges to the Indenture Trustee to the General Subaccount of the Collection Account pursuant to this Section 6.11, the Servicer shall provide written notice (which may be via electronic means, including electronic mail) to the Indenture Trustee and, upon request, to the Issuer of each such remittance (including the exact dollar amount to be remitted). The Servicer shall also, promptly upon receipt, remit to the Collection Account any other proceeds of the Storm Recovery Bond Collateral that which it may receive from time to time. Reconciliations of bank statements shall be as set forth in Exhibit A.. (b) The Servicer agrees and acknowledges that it holds all Storm Fixed Recovery Charge Payments collected by it and any other proceeds for the Storm Fixed Recovery Collateral Charge Payments received by it for the benefit of the Indenture Trustee and the Holders and that all such amounts will be remitted by the Servicer in accordance with this Section 6.11 without any surcharge, fee, offset, charge or other deduction except for and investment earnings late fees permitted by Section 6.06. The Servicer further agrees not to make any claim to reduce its obligation to remit all Storm Fixed Recovery Charge Payments collected by it in accordance with this Servicing AgreementAgreement except for late fees permitted by Section 6.06. (c) Unless otherwise directed to do so by the Issuer, the Servicer shall be responsible for selecting Eligible Investments in which the funds in the each Collection Account shall be invested pursuant to Section 8.03 of the Indenture.

Remittances. (a) The Storm Recovery Charge Collections deemed collected on any Servicer Business Day (the “Daily Remittance”) shall be calculated according to the procedures set forth in Exhibit A and remitted by the Servicer as soon as reasonably practicable to the General Subaccount of the Collection Account but in no event later than two Servicer Business Days following such Servicer Business Day. Prior to each remittance to the General Subaccount of the Collection Account pursuant to this Section 6.11, the Servicer shall provide written notice (which may be via electronic means, including electronic mail) to the Indenture Trustee and, upon request, to the Issuer of each such remittance (including the exact dollar amount to be remitted). The Servicer shall also, promptly upon receipt, remit to the Collection Account any other proceeds of the Storm Recovery Collateral that it may receive from time to time. Reconciliations of bank statements shall be as set forth in Exhibit A. (b) The Servicer agrees and acknowledges that it holds all Storm Recovery Charge Payments collected by it and any other proceeds for the Storm Recovery Collateral received by it for the benefit of the Indenture Trustee and the Holders and that all such amounts will be remitted by the Servicer in accordance with this Section 6.11 without any surcharge, fee, offset, charge or other deduction except for and investment interest earnings permitted by Section 6.06. The Servicer further agrees not to make any claim to reduce its obligation to remit all Storm Recovery Charge Payments collected by it in accordance with this Servicing Agreement. (c) Unless otherwise directed to do so by the Issuer, the Servicer shall be responsible for selecting Eligible Investments in which the funds in the Collection Account shall be invested pursuant to Section 8.03 of the Indenture.

Remittances. (a) The Storm Recovery Securitization Charge Collections deemed collected on any Servicer Business Day (the “Daily Remittance”) shall be calculated according to the procedures set forth in Exhibit A and remitted by the Servicer as soon as reasonably practicable to the General Subaccount of the Collection Account but in no event later than two Servicer Business Days following such Servicer Business Day. Prior to each remittance to the General Subaccount of the Collection Account pursuant to this Section 6.11, the Servicer shall provide written notice (which may be via electronic means, including electronic mail) to the Indenture Trustee and, upon request, to the Issuer of each such remittance (including the exact dollar amount to be remitted). The Servicer shall also, promptly upon receipt, remit to the Collection Account any other proceeds of the Storm Recovery Securitization Bond Collateral that it may receive from time to time. Reconciliations of bank statements shall be as set forth in Exhibit A. (b) The Servicer agrees and acknowledges that it holds all Storm Recovery Securitization Charge Payments collected by it and any other proceeds for the Storm Recovery Securitization Bond Collateral received by it for the benefit of the Indenture Trustee and the Holders and that all such amounts will be remitted by the Servicer in accordance with this Section 6.11 without any surcharge, fee, offset, charge or other deduction except for late fees and investment interest earnings permitted by Section 6.06. The Servicer further agrees not to make any claim to reduce its obligation to remit all Storm Recovery Securitization Charge Payments collected by it in accordance with this Servicing AgreementAgreement except for late fees permitted by Section 6.06. (c) Unless otherwise directed to do so by the Issuer, the Servicer shall be responsible for selecting Eligible Investments in which the funds in the Collection Account shall be invested pursuant to Section 8.03 of the Indenture.

Remittances. (a) The Storm Recovery Energy Transition Charge Collections deemed collected on any Servicer Business Day (the “Daily Remittance”) shall be calculated according to the procedures set forth in Exhibit A and remitted by the Servicer as soon as reasonably practicable to the General Subaccount of the Collection Account but in no event later than two Servicer Business Days following such Servicer Business Day. Prior to each remittance to the General Subaccount of the Collection Account pursuant to this Section 6.11, the Servicer shall provide written notice (which may be via electronic means, including electronic mail) to the Indenture Trustee and, upon request, to the Issuer of each such remittance (including the exact dollar amount to be remitted). The Servicer shall also, promptly upon receipt, remit to the Collection Account any other proceeds of the Storm Recovery Collateral that it may receive from time to time. Reconciliations of bank statements shall be as set forth in Exhibit A. (b) The Servicer agrees and acknowledges that it holds all Storm Recovery Energy Transition Charge Payments collected by it and any other proceeds for the Storm Recovery Collateral received by it for the benefit of the Indenture Trustee and the Holders and that all such amounts will be remitted by the Servicer in accordance with this Section 6.11 without any surcharge, fee, offset, charge or other deduction except for and investment any interest earnings permitted by Section 6.06. The Servicer further agrees not to make any claim to reduce its obligation to remit all Storm Recovery Energy Transition Charge Payments collected by it in accordance with this Servicing Agreement. (c) Unless otherwise directed to do so by the Issuer, the Servicer shall be responsible for selecting Eligible Investments in which the funds in the Collection Account shall be invested pursuant to Section 8.03 of the Indenture.

Remittances. (a) The Storm Recovery Charge Collections deemed collected on any Servicer shall remit Energy Transition Charges to the Trustee each Servicer Business Day (the “Daily Remittance”) shall be calculated according to the procedures set forth in Exhibit A and remitted by the Servicer as soon as reasonably practicable to the General Subaccount of the Collection Account Day, but in no event later than two Servicer Business Days following such Servicer Business Day, based on estimated daily collections using Days Sales Outstanding on retail bills and prior year write-off experience (the “Daily Remittance”) in all respects as provided in Annex 1 and shall make such adjustments as are set out in Annex 1 to adjust for any estimates of actual Energy Transition Charges actually remitted to the Trustee. The Servicer will remit those Energy Transition Charges for any Servicer Business Day no later than the second Servicer Business Day after that Servicer Business Day. Cleco Power will not be required to credit Customers or the Issuer with any earnings accruing to Cleco Power on transferred and untransferred daily collections of Energy Transition Charges. (a) Prior to (or concurrently with each remittance to the General Subaccount of the Collection Account pursuant to this Section 6.116.12, the Servicer shall provide written notice (which may be via electronic means, including electronic mail) to the Indenture Trustee and, upon request, to the Issuer of each such remittance (including the exact dollar amount to be remitted). The Servicer shall also, promptly upon receipt, remit to the Collection Account any other proceeds of the Storm Recovery Collateral Trust Estate that it may receive from time to time. Reconciliations of bank statements shall be as set forth in Exhibit A.. (b) The Servicer agrees and acknowledges that it holds all Storm Recovery Energy Transition Charge Payments payments collected by it and any other proceeds for the Storm Recovery Collateral Trust Estate received by it for the benefit of the Indenture Trustee and the Holders and that all such amounts will be remitted by the Servicer in accordance with this Section 6.11 6.12 without any surcharge, fee, offset, charge or other deduction except for and investment earnings permitted by deduction; provided, however, that nothing in this Section 6.066.12 shall prohibit the Return on Invested Capital to be paid to Cleco Power pursuant to Section 8.02(e)(x) of the Indenture. The Servicer further agrees not to make any claim to reduce its obligation to remit all Storm Recovery Energy Transition Charge Payments payments collected by it in accordance with this Servicing Agreement. (c) Unless otherwise directed to do so by the Issuer, the Servicer shall be responsible for selecting Eligible Investments in which the funds in the Collection Account shall be invested pursuant to Section 8.03 of the Indenture.

Remittances. (a) The Storm Recovery Servicer shall remit Securitized Utility Tariff Charge Collections deemed collected on any each Servicer Business Day (the “Daily Remittance”) shall be calculated according to the procedures set forth in Exhibit A and remitted by the Servicer as soon as reasonably practicable after collection to the General Subaccount of the Collection Account but in no event later than two Servicer Business Days following receipt of such Servicer Business DaySecuritized Utility Tariff Charge Collections. Prior to to, or concurrently with, each remittance to the General Subaccount of the Collection Account pursuant to this Section 6.11, the Servicer shall provide written notice (which may be via electronic means, including electronic mail) to the Indenture Trustee and, upon request, to the Issuer of each such remittance (including the exact dollar amount to be remitted). The Servicer shall also, promptly upon receipt, remit to the Collection Account any other proceeds of the Storm Recovery Securitized Utility Tariff Collateral that it may receive from time to time. Reconciliations of bank statements shall be as set forth in Exhibit A.. (b) The Servicer agrees and acknowledges that it holds all Storm Recovery Charge Payments Securitized Utility Tariff Charges collected by it and any other proceeds for the Storm Recovery Securitized Utility Tariff Collateral received by it for the benefit of the Indenture Trustee and the Holders and that all such amounts will be remitted by the Servicer in accordance with this Section 6.11 without any surcharge, fee, offset, charge or other deduction except for and investment interest earnings permitted by Section 6.06. The Servicer further agrees not to make any claim to reduce its obligation to remit all Storm Recovery Charge Payments Securitized Utility Tariff Charges collected by it in accordance with this Servicing Agreement. (c) [Reserved.] (d) Unless otherwise directed to do so by the Issuer, the Servicer shall be responsible for selecting Eligible Investments in which the funds in the Collection Account shall be invested pursuant to Section 8.03 of the Indenture.

Remittances. (a) The Storm Recovery Charge Collections deemed collected on any Servicer Business Day (the “Daily Remittance”) shall be calculated according to the procedures set forth in Exhibit A and remitted by the Servicer as soon as reasonably practicable to the General Subaccount of the Collection Account but in no event later than two Servicer Business Days following such Servicer Business Day. Prior to each remittance to the General Subaccount of the Collection Account pursuant to this Section 6.11, the Servicer shall provide written notice (which may be via electronic means, including electronic mail) to the Indenture Trustee and, upon request, to the Issuer of each such remittance (including the exact dollar amount to be remitted). The Servicer shall also, promptly upon receipt, remit to the Collection Account any other proceeds of the Storm Recovery Collateral that it may receive from time to time. Reconciliations of bank statements shall be as set forth in Exhibit A. (b) The Servicer agrees and acknowledges that it holds all Storm Recovery Charge Payments collected by it and any other proceeds for the Storm Recovery Collateral received by it for the benefit of the Indenture Trustee and the Holders and that all such amounts will be remitted by the Servicer in accordance with this Section 6.11 without any surcharge, fee, offset, charge or other deduction except for and investment earnings permitted by Section 6.06. The Servicer further agrees not to make any claim to reduce its obligation to remit all Storm Recovery Charge Payments collected by it in accordance with this Servicing Agreement. (c) Unless otherwise directed to do so by the Issuer, the Servicer shall be responsible for selecting Eligible Investments in which the funds in the Collection Account shall be invested pursuant to Section 8.03 of the Indenture.

Remittances. (a) The Storm Nuclear Asset-Recovery Charge Collections deemed collected on any Servicer Business Day (the “Daily Remittance”) shall be calculated according to the procedures set forth in Exhibit A and remitted by the Servicer as soon as reasonably practicable to the General Subaccount of the Collection Account but in no event later than two Servicer Business Days following such Servicer Business Day. Prior to each remittance to the General Subaccount of the Collection Account pursuant to this Section 6.11, the Servicer shall provide written notice (which may be via electronic means, including electronic mail) to the Indenture Trustee and, upon request, to the Issuer of each such remittance (including the exact dollar amount to be remitted). The Servicer shall also, promptly upon receipt, remit to the Collection Account any other proceeds of the Storm Recovery Series Collateral that it may receive from time to time. Reconciliations of bank statements shall be as set forth in Exhibit A. (b) The Servicer agrees and acknowledges that it holds all Storm Nuclear Asset-Recovery Charge Payments collected by it and any other proceeds for the Storm Recovery Series Collateral received by it for the benefit of the Indenture Trustee and the Holders and that all such amounts will be remitted by the Servicer in accordance with this Section 6.11 without any surcharge, fee, offset, charge or other deduction except for and investment interest earnings permitted by Section 6.06. The Servicer further agrees not to make any claim to reduce its obligation to remit all Storm Nuclear Asset-Recovery Charge Payments collected by it in accordance with this Servicing Agreement. (c) Unless otherwise directed to do so by the Issuer, the Servicer shall be responsible for selecting Eligible Investments in which the funds in the Collection Account shall be invested pursuant to Section 8.03 of the Indenture.

Remittances. (a) The Storm Recovery Charge Collections deemed collected Servicer shall remit to the Trustee, for deposit into the General Subaccount of the Collection Account, SRC Payments received by the Servicer from or on any behalf of Customers not later than the second Servicer Business Day following receipt of such Storm Recovery Charges (the “Daily Remittance”) shall be calculated according to the procedures set forth in Exhibit A and remitted by the Servicer as soon as reasonably practicable to the General Subaccount of the Collection Account but in no event later than two Servicer Business Days following such Servicer Business Day). Prior to (or concurrent with) each remittance to the General Subaccount of the Collection Account Daily Remittance pursuant to this Section 6.11, the Servicer shall provide written notice (which may be via electronic means, including electronic mail) to the Indenture Trustee and, upon request, to the Issuer of each such remittance (including the exact dollar amount to be remitted). The Servicer shall also, promptly upon receipt, remit to the Collection Account any other proceeds of the Storm Recovery Bond Collateral that which it may receive from time to time. Reconciliations of bank statements shall be as set forth in Exhibit A.. (b) The Servicer agrees and acknowledges that it holds all Storm Recovery Charge SRC Payments collected by it and any other proceeds for the Storm Recovery Bond Collateral received by it for the benefit of the Indenture Trustee and the Holders and that all such amounts will be remitted by the Servicer in accordance with this Section 6.11 without any surcharge, fee, offset, charge or other deduction except for and investment earnings late fees permitted by Section 6.06. The Servicer further agrees not to make any claim to reduce its obligation to remit all Storm Recovery Charge SRC Payments collected by it in accordance with this Servicing AgreementAgreement except for late fees permitted by Section 6.06. (c) Unless otherwise directed to do so by the Issuer, the Servicer shall be responsible for selecting Eligible Investments in which the funds in the Collection Account shall be invested pursuant to Section 8.03 of the Indenture.

Remittances. (a) The Storm Recovery Servicer shall remit Securitized Utility Tariff Charge Collections deemed collected on any each Servicer Business Day (the “Daily Remittance”) shall be calculated according to the procedures set forth in Exhibit A and remitted by the Servicer as soon as reasonably practicable after collection to the General Subaccount of the Collection Account but in no event later than two Servicer Business Days following receipt of such Servicer Business DaySecuritized Utility Tariff Charge Collections. Prior to to, or concurrently with, each remittance to the General Subaccount of the Collection Account pursuant to this Section 6.11, the Servicer shall provide written notice (which may be via electronic means, including electronic mail) to the Indenture Trustee and, upon request, to the Issuer of each such remittance (including the exact dollar amount to be remitted). The Servicer shall also, promptly upon receipt, remit to the Collection Account any other proceeds of the Storm Recovery Securitized Utility Tariff Collateral that it may receive from time to time. Reconciliations of bank statements shall be as set forth in Exhibit A.. (b) The Servicer agrees and acknowledges that it holds all Storm Recovery Charge Payments Securitized Utility Tariff Charges collected by it and any other proceeds for the Storm Recovery Securitized Utility Tariff Bond Collateral received by it for the benefit of the Indenture Trustee and the Holders and that all such amounts will be remitted by the Servicer in accordance with this Section 6.11 without any surcharge, fee, offset, charge or other deduction except for and investment interest earnings permitted by Section 6.06. The Servicer further agrees not to make any claim to reduce its obligation to remit all Storm Recovery Charge Payments Securitized Utility Tariff Charges collected by it in accordance with this Servicing Agreement. (c) [Reserved.] (d) Unless otherwise directed to do so by the Issuer, the Servicer shall be responsible for selecting Eligible Investments in which the funds in the Collection Account shall be invested pursuant to Section 8.03 of the Indenture.

Remittances. (a) The Storm Recovery Charge Collections deemed collected on any Servicer Business Day (the “Daily Remittance”) shall be calculated according to the procedures set forth in Exhibit A and remitted by the Servicer as soon as reasonably practicable remit to the General Subaccount of the Collection Account on each Servicer Business Day (commencing 41 days after the Closing Date), but in no event later than two (2) Servicer Business Days following the Servicer Business Day after such collections are estimated to have been received, the daily collections of previously billed Storm Recovery Charges estimated to have been received by the Servicer from or on behalf of Customers on such Servicer Business Day. , using a weighted average balance of days outstanding on retail bills and prior years’ write-off experience (the “Daily Remittance”), all in accordance with the procedures provided in Annex 1. (b) Prior to (or concurrently with) each remittance to the General Subaccount of the Collection Account pursuant to this Section 6.116.12, the Servicer shall provide written notice (which may be via electronic means, including electronic mail) to the Indenture Trustee and, upon request, to the Issuer of each such remittance (including the exact dollar amount to be remitted). The Servicer shall also, promptly upon receipt, remit to the Collection Account any other proceeds of the Storm Recovery Collateral Trust Estate that it may receive from time to time. Reconciliations of bank statements shall be as set forth in Exhibit A. (bc) The Servicer agrees and acknowledges that it holds all Storm Recovery Charge Payments payments collected by it and any other proceeds for the Storm Recovery Collateral Trust Estate received by it for the benefit of the Indenture Trustee and the Holders and that all such amounts will be remitted by the Servicer in accordance with this Section 6.11 6.12 without any surcharge, fee, offset, charge or other deduction deduction, except for (i) as set forth in clause (d) below and investment earnings (ii) as permitted by Section 6.06. The Servicer further agrees not to make any claim to reduce its obligation to remit all Storm Recovery Charge Payments collected by it in accordance with this Servicing AgreementSections 6.07 and 6. (c) Unless otherwise directed to do so by the Issuer, the Servicer shall be responsible for selecting Eligible Investments in which the funds in the Collection Account shall be invested pursuant to Section 8.03 of the Indenture.

Remittances. (a) The Storm Recovery Charge Collections deemed collected Servicer shall remit to the Trustee, for deposit into the General Subaccount of the Collection Account, SRC Payments received by the Servicer from or on any behalf of Customers not later than the second Servicer Business Day following receipt of such Storm Recovery Charges (the “Daily Remittance”) shall be calculated according to the procedures set forth in Exhibit A and remitted by the Servicer as soon as reasonably practicable to the General Subaccount of the Collection Account but in no event later than two Servicer Business Days following such Servicer Business Day). Prior to (or concurrent with) each remittance to the General Subaccount of the Collection Account Daily Remittance pursuant to this Section 6.11, the Servicer shall provide written notice (which may be via electronic means, including electronic mail) to the Indenture Trustee and, upon request, to the Issuer of each such remittance (including the exact dollar amount to be remitted). The Servicer shall also, promptly upon receipt, remit to the Collection Account any other proceeds of the Storm Recovery Bond Collateral that which it may receive from time to time. Reconciliations of bank statements shall be as set forth in Exhibit A.. (b) The Servicer agrees and acknowledges that it holds all Storm Recovery Charge SRC Payments collected by it and any other proceeds for the Storm Recovery Bond Collateral received by it for the benefit of the Indenture Trustee and the Holders and that all such amounts will be remitted by the Servicer in accordance with this Section 6.11 without any surcharge, fee, offset, charge or other deduction except for and investment earnings late fees permitted by Section 6.06. The Servicer further agrees not to make any claim to reduce its obligation to remit all Storm Recovery Charge SRC Payments collected by it in accordance with this Servicing AgreementAgreement except for late fees permitted by Section 6.06. (c) Unless otherwise directed to do so by the Issuer, the Servicer shall be responsible for selecting Eligible Investments in which the funds in the Collection Account shall be invested pursuant to Section 8.03 of the Indenture. SECTION 6.12.

Remittances. (a) The Storm Recovery Charge Collections deemed collected on any Servicer Business Day (the “Daily Remittance”) shall be calculated according to the procedures set forth in Exhibit A and remitted by the Servicer as soon as reasonably practicable remit to the General Subaccount of the Collection Account on each Servicer Business Day (commencing [•] days after the Closing Date), but in no event later than two (2) Servicer Business Days following the Servicer Business Day after such collections are estimated to have been received, the daily collections of previously billed Storm Recovery Charges estimated to have been received by the Servicer from or on behalf of Customers on such Servicer Business Day. , using a weighted average balance of days outstanding on retail bills and prior years’ write-off experience (the “Daily Remittance”), all in accordance with the procedures provided in Annex 1. (b) Prior to (or concurrently with) each remittance to the General Subaccount of the Collection Account pursuant to this Section 6.116.12, the Servicer shall provide written notice (which may be via electronic means, including electronic mail) to the Indenture Trustee and, upon request, to the Issuer of each such remittance (including the exact dollar amount to be remitted). The Servicer shall also, promptly upon receipt, remit to the Collection Account any other proceeds of the Storm Recovery Collateral Trust Estate that it may receive from time to time. Reconciliations of bank statements shall be as set forth in Exhibit A. (bc) The Servicer agrees and acknowledges that it holds all Storm Recovery Charge Payments payments collected by it and any other proceeds for the Storm Recovery Collateral Trust Estate received by it for the benefit of the Indenture Trustee and the Holders and that all such amounts will be remitted by the Servicer in accordance with this Section 6.11 6.12 without any surcharge, fee, offset, charge or other deduction deduction, except for (i) as set forth in clause (d) below and investment earnings (ii) as permitted by Section 6.06. The Servicer further agrees not to make any claim to reduce its obligation to remit all Storm Recovery Charge Payments collected by it in accordance with this Servicing AgreementSections 6.07 and 6. (c) Unless otherwise directed to do so by the Issuer, the Servicer shall be responsible for selecting Eligible Investments in which the funds in the Collection Account shall be invested pursuant to Section 8.03 of the Indenture.

Remittances. (a) The Storm Recovery Charge Collections deemed collected Subject to clause (b) below, on any each Servicer Business Day (the “Daily Remittance”) shall be calculated according to the procedures set forth in Exhibit A and remitted by Day, the Servicer as soon as reasonably practicable shall remit to the General Subaccount of the Collection Account but in no event later than two the total IFC Payments collected by the Servicer from or on behalf of Customers on the second preceding Servicer Business Days following such Servicer Business Day. (the "Daily Remittance"), which Daily Remittance shall be determined according to the procedures set forth in Annex I. Prior to or accompanying each remittance to the General Subaccount of the Collection Account pursuant to this Section 6.11Section, the Servicer shall provide written notice (which may be via electronic means, including electronic mail) to the Indenture Trustee and, upon request, to the Issuer of each such remittance (including the exact dollar amount to be remitted). The Servicer shall also, promptly upon receipt, remit to the Collection Account any other proceeds of the Storm Recovery Collateral that it may receive from time to time. Reconciliations of bank statements shall be as set forth in Exhibit A.. (b) Notwithstanding the foregoing clause (a), unless a Servicer Default has occurred and is continuing or if the Rating Agency Condition is not satisfied, during any period in which the Servicer maintains a short-term rating of A-1 or better by Standard & Poor's, P-1 or better by Moody's, (if rated by Duff & ▇▇▇▇▇▇) D-1 or better by Duff & ▇▇▇▇▇▇ and (if rated by Fitch IBCA) F-1 or better by Fitch IBCA, the Servicer shall no longer be required to make Daily Remittances, and, in lieu thereof, the Servicer shall, on each Monthly Remittance Date, cause to be made a wire transfer of immediately available funds equal to the Aggregate Remittance Amount for the applicable Billing Period to the General Subaccount of the Collection Account. (c) The Servicer agrees and acknowledges that it holds all Storm Recovery Charge IFC Payments collected by it and any other proceeds for the Storm Recovery Collateral received by it for the benefit of the Indenture Trustee and Grantee or the Holders Note Issuer, as applicable, and that all such amounts will shall be remitted by the Servicer in accordance with this Section 6.11 without any surcharge, fee, offset, charge or other deduction except for and investment earnings late fees permitted by Section 6.06. The Servicer further agrees shall not to make any claim to reduce its obligation to remit all Storm Recovery Charge IFC Payments collected by it in accordance with this Servicing AgreementAgreement except for late fees permitted by Section 6.06. (cd) Unless otherwise directed to do so instructed in writing by the Note Issuer, the Servicer Servicer, on behalf of the Note Issuer, shall be responsible for selecting Eligible Investments in which the funds in the Collection Account shall be invested pursuant to Section 8.03 of the Indenture.