Transition Property. Section 1.01
Transition Property. The Seller and the Issuer agree that after giving effect to the sale, transfer, assignment, setting over and conveyance contemplated hereby the Seller has no right, title or interest in or to the Series 2003-1 Transition Property to which a security interest could attach because (i) it has sold, transferred, assigned, set over and conveyed all right in and to the Series 2003-1 Transition Property to the Issuer, (ii) as provided in Section 39.304 of the Securitization Law, such rights are only contract rights until the time of such sale, transfer, assignment, setting over and conveyance and (iii) as provided in Section 39.309(c) of the Securitization Law, appropriate notice has been filed and such transfer is perfected against all third parties, including subsequent judicial or other lien creditors. If such sale, transfer, assignment, setting over and conveyance is held by any court of competent jurisdiction not to be a true sale as provided in Section 39.308 of the Securitization Law, then such sale, transfer, assignment, setting over and conveyance shall be treated as the creation of a security interest (within the meaning of the Securitization Law and the UCC) in the Series 2003-1 Transition Property and, without prejudice to its position that it has absolutely transferred all of its rights in the Series 2003-1 Transition Property to the Issuer, the Seller hereby grants a security interest in the Series 2003-1 Transition Property to the Issuer (and, to the extent necessary to qualify the grant as a security interest under the Securitization Law, to the Indenture Trustee for the benefit of the Series 2003-1 Bondholders issued by the Issuer and secured by the Series 2003-1 Transition Property).
Transition Property. The representations and warranties shall survive the sale and transfer of Series 2003-1 Transition Property to the Issuer and the pledge thereof to the Indenture Trustee pursuant to the Indenture. The Seller agrees that the Issuer will have the right to assign the right to enforce the following representations and warranties to the Indenture Trustee for the benefit of the Series 2003-1
Transition Property. The Servicer shall provide to the Series 2003-1 Holders and the Indenture Trustee access to the Series 2003-1 Transition Property Records in such cases where the Series 2003-1 Holders and the Indenture Trustee shall be required by applicable law to be provided access to such records. Access shall be afforded without charge, but only upon reasonable request and during the Servicer's normal business hours at the respective offices of the Servicer. Nothing in this Section 6.08 shall affect the obligation of the Servicer to observe any applicable law (including any PUCT Regulation) prohibiting disclosure of information regarding Customers, and the failure of the Servicer to provide access to such information as a result of such obligation shall not constitute a breach of this Section.
Transition Property. On the date hereof, immediately prior to the sale of the Series 2004-1 Transition Property hereunder, the Seller owns the rights and interests under the Financing Order free and clear of all Liens and rights of any other Person, and no offsets, defenses or counterclaims exist or have been asserted with respect thereto.
Transition Property. Upon the effectiveness of the Financing Order, the Series 2003-1 Issuance Advice Letter and the Tariff with respect to the Sexxxx 0000-0 Xxxnsition Property and the transfer of the Series 2003-1 Transition Property pursuant to this Agreement:
Transition Property. SECTION 5.01. Custody of the Series 2003-1 Transition Property Records To assure uniform quality in servicing the Series 2003-1 Transition Property and to reduce administrative costs, the Issuer hereby revocably appoints the Servicer, and the Servicer hereby accepts such appointment, to act as the agent of the Issuer and the Indenture Trustee as custodian of any and all documents and records that the Seller shall keep on file, in accordance with its customary procedures, relating to the Series 2003-1 Transition Property, including copies of the Financing Order, any Issuance Advice Letters, Tariffs and Amendatory Tariffs relating thereto and all Series 2003-1 Transition Property Records which are hereby constructively delivered to the Indenture Trustee, as pledgee of the Issuer with respect to all Series 2003-1 Transition Property.
Transition Property. The obligation of the Issuer to purchase Series 2004-1 Transition Property on the date hereof shall be subject to the satisfaction or waiver by the Issuer of each of the following conditions:
Transition Property. SECTION 5.01. Custody of the Series 2004-1
Transition Property. The representations and warranties shall survive the execution and delivery of this Agreement, the sale of any Series 2004-1 Transition Property to the Issuer pursuant to the Sale Agreement and the pledge thereof to the Indenture Trustee pursuant to the Indenture.
