Common use of True-Up Adjustments Clause in Contracts

True-Up Adjustments. From time to time, until the Retirement of the Securitization Bonds, but for a period no longer than (i) six (6) years from the beginning of the first complete billing cycle during which the Distribution Securitization Charges were initially placed on any Distribution Customer’s ▇▇▇▇ or (ii) fifteen (15) years from the beginning of the first complete billing cycle during which the Power Supply Securitization Charges were initially placed on any Power Supply Customers’ ▇▇▇▇, the Servicer shall identify the need for Annual True-Up Adjustments, Semi-Annual Interim True-Up Adjustments and Additional Interim True-Up Adjustments as permitted pursuant to the Financing Order and shall take all reasonable action to obtain and implement such True-Up Adjustments for each of the Distribution Securitization Charges and Power Supply Securitization Charges for the purpose of correcting any overcollections and undercollections and ensuring the expected recovery of amounts required for the timely payment of debt service and other required amounts and charges in connection with the Securitization Bonds, all in accordance with the following: (a) Expected Amortization Schedule and Scheduled Principal Contribution Obligation Balance Schedule. The Expected Amortization Schedule for the Securitization Bonds is attached hereto as Exhibit E. If the Expected Amortization Schedule is revised, the Servicer shall send a copy of such revised Expected Amortization Schedule to the Issuer, the Indenture Trustee and the Rating Agencies promptly thereafter. For purposes of calculating each True-Up Adjustment, scheduled principal payments are allocated to be paid from Distribution Securitization Charge Collections and Power Supply Securitization Charge Collections in accordance with the Scheduled Principal Contribution Obligation Balance Schedule attached hereto as Exhibit F. If the Scheduled Principal Contribution Obligation Balance Schedule is revised, the Servicer shall send a copy of such revised Scheduled Principal Contribution Obligation Balance Schedule to the Issuer, the Indenture Trustee and the Rating Agencies promptly thereafter.

True-Up Adjustments. From time (a) Prior to time, until the Retirement of the Securitization Bonds, but for a period no longer than (i) six (6) years from the beginning of the first complete billing cycle during which the Distribution Securitization Charges were initially placed on any Distribution Customer’s ▇▇▇▇ or (ii) fifteen (15) years from the beginning of the first complete billing cycle during which the Power Supply Securitization Charges were initially placed on any Power Supply Customers’ ▇▇▇▇each Calculation Date, the Servicer shall identify calculate (i) the need Environmental Control Bond Balance as of such Calculation Date (a written copy of which shall be delivered by the Servicer to the Indenture Trustee within five Business Days following such Calculation Date) and (ii) the revised Environmental Control Charge with respect to the Transferred Environmental Control Property in respect of each True-Up Adjustment Date such that the Servicer projects that Environmental Control Charge Collections therefrom allocable to the Issuer will be sufficient so that: (A) the Environmental Control Bond Balance on the Payment Date immediately preceding the next True-Up Adjustment Date will equal the Projected Environmental Control Bond Balance as of such date or, if earlier with respect to any Series or Class of Environmental Control Bonds, as of the Payment Date immediately preceding the Expected Final Payment Date therefor; (B) the amount on deposit in the General Subaccount on the Payment Date immediately preceding the next True-Up Adjustment Date will equal the Periodic Bond Payment Exhibit A-2 Requirement for such date or, if earlier with respect to any Series or Tranche of Environmental Control Bonds, as of the Payment Date immediately preceding the Expected Final Payment Date therefor; (C) the amount on deposit in the Capital Subaccount on the Payment Date immediately preceding the next True-Up Adjustment Date will equal its required level for such date or, if earlier with respect to any Series or Tranche of Environmental Control Bonds, as of the Payment Date immediately preceding the Expected Final Payment Date therefor; (D) the amount on deposit in the Excess Funds Subaccount on the Payment Date immediately preceding the next True-Up Adjustment Date, will equal zero; and (E) the Environmental Control Charge Collections will provide for (i) amortization of the remaining outstanding principal balance of each Series in accordance with the Expected Sinking Fund Schedule therefor, (ii) payment of all Operating Expenses of the Issuer when due in accordance with the Indenture and (iii) deposits to the General Subaccount such that the balance therein will equal the Periodic Bond Payment Requirement on each Payment Date. (b) On each Semi-Annual Calculation Date, the Servicer shall file a Semi-Annual True-Up AdjustmentsAdjustment Filing with the PSCWV. On each Quarterly Calculation Date and Monthly Calculation Date, Semithe Servicer may file a Quarterly True-Annual Interim Up Adjustment Filing or Monthly True-Up Adjustment Filing, as the case may be, if necessary. Each True-Up Adjustment Filing shall include the data specified in the Statute and the Financing Order. (c) On each True-Up Adjustment Date, the Servicer shall (i) take all reasonable actions and make all reasonable efforts to effectuate all adjustments to the Environmental Control Charge either approved by the PSCWV or effective on an interim basis pending final approval and (ii) promptly send to the Indenture Trustee copies of all material notices and documents relating to such adjustments. (d) If deemed appropriate by the Servicer to protect Environmental Control Bondholders and to remedy a significant and recurring variance between Actual Environmental Control Charge Collections and Estimated Environmental Control Charge Collections, as authorized by the Financing Exhibit A-3 Order, the Servicer shall file Non-Routine True-Up Adjustments and Additional Interim to the Environmental Control Charge (as defined in the Financing Order) to accommodate material changes to the True-Up Adjustments as permitted pursuant Mechanism. Such filings shall be made at least 90 days prior to the Financing Order and shall take all reasonable action to obtain and implement such True-Up Adjustments for each proposed effective date of the Distribution Securitization Charges and Power Supply Securitization Charges for the purpose of correcting any overcollections and undercollections and ensuring the expected recovery of amounts required for the timely payment of debt service and other required amounts and charges in connection with the Securitization Bonds, all in accordance with the following: (a) Expected Amortization Schedule and Scheduled Principal Contribution Obligation Balance Scheduleproposed adjustments. The Expected Amortization Schedule for the Securitization Bonds is attached hereto as Exhibit E. If the Expected Amortization Schedule is revised, the Servicer shall send a copy provide notice of such revised Expected Amortization Schedule non-routine adjustment and resulting change to the Issuer, the Indenture Trustee and the Rating Agencies promptly thereafter. For purposes of calculating each True-Up Adjustment, scheduled principal payments are allocated Environmental Control Charge to be paid from Distribution Securitization Charge Collections and Power Supply Securitization Charge Collections in accordance with the Scheduled Principal Contribution Obligation Balance Schedule attached hereto as Exhibit F. If the Scheduled Principal Contribution Obligation Balance Schedule is revised, the Servicer shall send a copy of such revised Scheduled Principal Contribution Obligation Balance Schedule to the Issuer, the Indenture Trustee and the Rating Agencies promptly thereafterFitch.

True-Up Adjustments. From time (a) Prior to time, until the Retirement of the Securitization Bonds, but for a period no longer than (i) six (6) years from the beginning of the first complete billing cycle during which the Distribution Securitization Charges were initially placed on any Distribution Customer’s ▇▇▇▇ or (ii) fifteen (15) years from the beginning of the first complete billing cycle during which the Power Supply Securitization Charges were initially placed on any Power Supply Customers’ ▇▇▇▇each Calculation Date, the Servicer shall identify calculate (i) the need Environmental Control Bond Balance as of such Calculation Date (a written copy of which shall be delivered by the Servicer to the Indenture Trustee within five Business Days following such Calculation Date) and (ii) the revised Environmental Control Charge with respect to the Environmental Control Property in respect of each True-Up Adjustment Date such that the Servicer projects that Environmental Control Charge Collections therefrom allocable to the Issuer will be sufficient so that: (A) the Environmental Control Bond Balance on the Payment Date immediately preceding the next True-Up Adjustment Date will equal the Projected Environmental Control Bond Balance as of such date or, if earlier with respect to any Series or Class of Environmental Control Bonds, as of the Payment Date immediately preceding the Expected Final Payment Date therefor; (B) the amount on deposit in the General Subaccount on the Payment Date immediately preceding the next True-Up Adjustment Date will equal the Periodic Bond Payment Requirement for such date or, if earlier with respect to any Series or Tranche of Environmental Control Bonds, as of the Payment Date immediately preceding the Expected Final Payment Date therefor; (C) the amount on deposit in the Reserve Subaccount on the Payment Date immediately preceding the next True-Up Adjustment Date will equal its required level for such date or, if earlier with respect to any Series or Tranche of Environmental Control Bonds, as of the Payment Date immediately preceding the Expected Final Payment Date therefor; (D) the amount on deposit in the Capital Subaccount on the Payment Date immediately preceding the next True-Up Adjustment Date will equal its required level for such date or, if earlier with respect to any Series or Tranche of Environmental Control Bonds, as of the Payment Date immediately preceding the Expected Final Payment Date therefor; (E) the amount on deposit in the Excess Funds Subaccount on the Payment Date immediately preceding the next True-Up Adjustment Date, will equal zero; and (F) the Environmental Control Charge Collections will provide for (i) amortization of the remaining outstanding principal balance of each Series in accordance with the Expected Sinking Fund Schedule therefor, (ii) payment of all Operating Expenses of the Issuer when due in accordance with the Indenture and (iii) deposits to the General Subaccount such that the balance therein will equal the Periodic Bond Payment Requirement on each Payment Date. (b) On each Semi-Annual Calculation Date, the Servicer shall file a Semi-Annual True-Up AdjustmentsAdjustment Filing with the PSCWV. On each Quarterly Calculation Date and Monthly Calculation Date, Semithe Servicer may file a Quarterly True-Annual Interim Up Adjustment Filing or Monthly True-Up Adjustment Filing, as the case may be, if necessary. Each True-Up Adjustment Filing shall include the data specified in the Statute and the Financing Order. (c) On each True-Up Adjustment Date, the Servicer shall (i) take all reasonable actions and make all reasonable efforts to effectuate all adjustments to the Environmental Control Charge either approved by the PSCWV or effective on an interim basis pending final approval and (ii) promptly send to the Indenture Trustee copies of all material notices and documents relating to such adjustments. (d) If deemed appropriate by the Servicer to protect Environmental Control Bondholders and to remedy a significant and recurring variance between Actual Environmental Control Charge Collections and Estimated Environmental Control Charge Collections, as authorized by the Financing Order, the Servicer shall file Non-Routine True-Up Adjustments and Additional Interim to the Environmental Control Charge (as defined in the Financing Order) to accommodate material changes to the True-Up Adjustments as permitted pursuant Mechanism. Such filings shall be made at least 90 days prior to the Financing Order and shall take all reasonable action to obtain and implement such True-Up Adjustments for each proposed effective date of the Distribution Securitization Charges proposed adjustments. The Servicer shall provide notice of such non-routine adjustment and Power Supply Securitization Charges for resulting change to the purpose of correcting any overcollections and undercollections and ensuring the expected recovery of amounts required for the timely payment of debt service and other required amounts and charges in connection Environmental Control Charge to Fitch. The Servicer agrees to comply with the Securitization Bonds, all in accordance following servicing procedures to assess its compliance with the following: (a) Expected Amortization Schedule and Scheduled Principal Contribution Obligation Balance Schedule. The Expected Amortization Schedule for the Securitization Bonds is attached hereto as Exhibit E. If the Expected Amortization Schedule is revised, the Servicer shall send a copy of such revised Expected Amortization Schedule to the Issuer, the Indenture Trustee and the Rating Agencies promptly thereafter. For purposes of calculating each True-Up Adjustment, scheduled principal payments are allocated to be paid from Distribution Securitization Charge Collections and Power Supply Securitization Charge Collections in accordance with the Scheduled Principal Contribution Obligation Balance Schedule attached hereto as Exhibit F. If the Scheduled Principal Contribution Obligation Balance Schedule is revised, the Servicer shall send a copy of such revised Scheduled Principal Contribution Obligation Balance Schedule to the Issuer, the Indenture Trustee and the Rating Agencies promptly thereafterapplicable servicing criteria.

True-Up Adjustments. From time (a) Prior to time, until the Retirement of the Securitization Bonds, but for a period no longer than (i) six (6) years from the beginning of the first complete billing cycle during which the Distribution Securitization Charges were initially placed on any Distribution Customer’s ▇▇▇▇ or (ii) fifteen (15) years from the beginning of the first complete billing cycle during which the Power Supply Securitization Charges were initially placed on any Power Supply Customers’ ▇▇▇▇each Calculation Date, the Servicer shall identify calculate (i) the need Environmental Control Bond Balance as of such Calculation Date (a written copy of which shall be delivered by the Servicer to the Indenture Trustee within five Business Days following such Calculation Date) and (ii) the revised Environmental Control Charge with respect to the Transferred Environmental Control Property in respect of each True-Up Adjustment Date such that the Servicer projects that Environmental Control Charge Collections therefrom allocable to the Issuer will be sufficient so that: (A) the Environmental Control Bond Balance on the Payment Date immediately preceding the next True-Up Adjustment Date will equal the Projected Environmental Control Bond Balance as of such date or, if earlier with respect to any Series or Class of Environmental Control Bonds, as of the Payment Date immediately preceding the Expected Final Payment Date therefor; (B) the amount on deposit in the General Subaccount on the Payment Date immediately preceding the next True-Up Adjustment Date will equal the Periodic Bond Payment Requirement for such date or, if earlier with respect to any Series or Tranche of Environmental Control Bonds, as of the Payment Date immediately preceding the Expected Final Payment Date therefor; (C) the amount on deposit in the Capital Subaccount on the Payment Date immediately preceding the next True-Up Adjustment Date will equal its required level for such date or, if earlier with respect to any Series or Tranche of Environmental Control Bonds, as of the Payment Date immediately preceding the Expected Final Payment Date therefor; (D) the amount on deposit in the Excess Funds Subaccount on the Payment Date immediately preceding the next True-Up Adjustment Date, will equal zero; and (E) the Environmental Control Charge Collections will provide for (i) amortization of the remaining outstanding principal balance of each Series in accordance with the Expected Sinking Fund Schedule therefor, (ii) payment of all Operating Expenses of the Issuer when due in accordance with the Indenture and (iii) deposits to the General Subaccount such that the balance therein will equal the Periodic Bond Payment Requirement on each Payment Date. (b) On each Semi-Annual Calculation Date, the Servicer shall file a Semi-Annual True-Up AdjustmentsAdjustment Filing with the PSCWV. On each Quarterly Calculation Date and Monthly Calculation Date, Semithe Servicer may file a Quarterly True-Annual Interim Up Adjustment Filing or Monthly True-Up Adjustment Filing, as the case may be, if necessary. Each True-Up Adjustment Filing shall include the data specified in the Statute and the Financing Order. (c) On each True-Up Adjustment Date, the Servicer shall (i) take all reasonable actions and make all reasonable efforts to effectuate all adjustments to the Environmental Control Charge either approved by the PSCWV or effective on an interim basis pending final approval and (ii) promptly send to the Indenture Trustee copies of all material notices and documents relating to such adjustments. (d) If deemed appropriate by the Servicer to protect Environmental Control Bondholders and to remedy a significant and recurring variance between Actual Environmental Control Charge Collections and Estimated Environmental Control Charge Collections, as authorized by the Financing Order, the Servicer shall file Non-Routine True-Up Adjustments and Additional Interim to the Environmental Control Charge (as defined in the Financing Order) to accommodate material changes to the True-Up Adjustments as permitted pursuant Mechanism. Such filings shall be made at least 90 days prior to the Financing Order and shall take all reasonable action to obtain and implement such True-Up Adjustments for each proposed effective date of the Distribution Securitization Charges proposed adjustments. The Servicer shall provide notice of such non-routine adjustment and Power Supply Securitization Charges for resulting change to the purpose of correcting any overcollections and undercollections and ensuring the expected recovery of amounts required for the timely payment of debt service and other required amounts and charges in connection Environmental Control Charge to Fitch. The Servicer agrees to comply with the Securitization Bonds, all in accordance following servicing procedures to assess its compliance with the following: (a) Expected Amortization Schedule and Scheduled Principal Contribution Obligation Balance Schedule. The Expected Amortization Schedule for the Securitization Bonds is attached hereto as Exhibit E. If the Expected Amortization Schedule is revised, the Servicer shall send a copy of such revised Expected Amortization Schedule to the Issuer, the Indenture Trustee and the Rating Agencies promptly thereafter. For purposes of calculating each True-Up Adjustment, scheduled principal payments are allocated to be paid from Distribution Securitization Charge Collections and Power Supply Securitization Charge Collections in accordance with the Scheduled Principal Contribution Obligation Balance Schedule attached hereto as Exhibit F. If the Scheduled Principal Contribution Obligation Balance Schedule is revised, the Servicer shall send a copy of such revised Scheduled Principal Contribution Obligation Balance Schedule to the Issuer, the Indenture Trustee and the Rating Agencies promptly thereafterapplicable servicing criteria.

True-Up Adjustments. From time (i) Annual True-Up Adjustments and Filings. Each year no later than the last billing cycle of January, the Servicer shall: (A) update the data and assumptions underlying the calculation of the Transition Charges, including projected electricity usage during the next Calculation Period for each TC Customer Class and including interest and estimated expenses and fees of the Note Issuer to timebe paid during such period, until the Retirement Weighted Average Days Outstanding and write-offs; (B) determine the Periodic Payment Requirements and Periodic Billing Requirement for the next Calculation Period based on such updated data and assumptions; (C) determine the Transition Charges to be allocated to each TC Customer Class during the next Calculation Period based on such Periodic Billing Requirement and the terms of the applicable Financing Orders and the Tariffs filed pursuant thereto and in doing so the Servicer shall use the method of allocating Transition Charges then in effect as a result of the implementation of a Non-Standard True-Up Adjustment; (D) make all required notice and other filings with the PUCT to reflect the revised Transition Charges, including any Amendatory Tariffs, and (E) take all reasonable actions and make all reasonable efforts to effect such Annual True-Up Adjustment and to enforce the provisions of the Securitization BondsLaw and the applicable Financing Orders which relate thereto; provided, but however, that if the Servicer determines that the forecasted billing units for a period no longer than (i) six (6) years from the beginning one or more of the first complete TC Customer Classes for an upcoming period decreases by more than 10% compared to the billing cycle during which units for the Distribution Securitization Charges were initially placed on any Distribution Customer’s ▇▇▇▇ or (ii) fifteen (15) years from threshold period set forth in the beginning of the first complete billing cycle during which the Power Supply Securitization Charges were initially placed on any Power Supply Customers’ ▇▇▇▇applicable Financing Order, the Servicer shall identify implement a Non-Standard True-Up Adjustment and, if such Non-Standard True-Up Adjustment shall be made in the need time period provided for Annual True-Up AdjustmentsAdjustments pursuant to this Section 4.01(b)(i), Semisuch Non-Annual Interim Standard True-Up Adjustments and Additional Interim Adjustment shall also qualify as an Annual True-Up Adjustments as permitted pursuant to Adjustment for purposes of this Agreement. The Servicer shall implement the Financing Order and shall take all reasonable action to obtain and implement revised Transition Charges, if any, resulting from such Annual True-Up Adjustments for each Adjustment as of the Distribution Securitization Charges and Power Supply Securitization Charges for the purpose of correcting any overcollections and undercollections and ensuring the expected recovery of amounts required for the timely payment of debt service and other required amounts and charges in connection with the Securitization Bonds, all in accordance with the following: (a) Expected Amortization Schedule and Scheduled Principal Contribution Obligation Balance Schedule. The Expected Amortization Schedule for the Securitization Bonds is attached hereto as Exhibit E. If the Expected Amortization Schedule is revised, the Servicer shall send a copy of such revised Expected Amortization Schedule to the Issuer, the Indenture Trustee and the Rating Agencies promptly thereafter. For purposes of calculating each Annual True-Up Adjustment, scheduled principal payments are allocated to be paid from Distribution Securitization Charge Collections and Power Supply Securitization Charge Collections in accordance with the Scheduled Principal Contribution Obligation Balance Schedule attached hereto as Exhibit F. If the Scheduled Principal Contribution Obligation Balance Schedule is revised, the Servicer shall send a copy of such revised Scheduled Principal Contribution Obligation Balance Schedule to the Issuer, the Indenture Trustee and the Rating Agencies promptly thereafterAdjustment Date.

True-Up Adjustments. From time (a) Prior to time, until the Retirement of the Securitization Bonds, but for a period no longer than (i) six (6) years from the beginning of the first complete billing cycle during which the Distribution Securitization Charges were initially placed on any Distribution Customer’s ▇▇▇▇ or (ii) fifteen (15) years from the beginning of the first complete billing cycle during which the Power Supply Securitization Charges were initially placed on any Power Supply Customers’ ▇▇▇▇each Calculation Date, the Servicer shall identify calculate (i) the need Environmental Control Bond Balance as of such Calculation Date (a written copy of which shall be delivered by the Servicer to the Indenture Trustee within five Business Days following such Calculation Date) and (ii) the revised Environmental Control Charge with respect to the Transferred Environmental Control Property in respect of each True-Up Adjustment Date such that the Servicer projects that Environmental Control Charge Collections therefrom allocable to the Issuer will be sufficient so that: (A) the Environmental Control Bond Balance on the Payment Date immediately preceding the next True-Up Adjustment Date will equal the Projected Environmental Control Bond Balance as of such date or, if earlier with respect to any Series or Class of Environmental Control Bonds, as of the Payment Date immediately preceding the Expected Final Payment Date therefor; (B) the amount on deposit in the General Subaccount on the Payment Date immediately preceding the next True-Up Adjustment Date will equal the Periodic Bond Payment Requirement for such date or, if earlier with respect to any Series or Tranche of Environmental Control Bonds, as of the Payment Date immediately preceding the Expected Final Payment Date therefor; (C) the amount on deposit in the Capital Subaccount on the Payment Date immediately preceding the next True-Up Adjustment Date will equal its required level for such date or, if earlier with respect to any Series or Tranche of Environmental Control Bonds, as of the Payment Date immediately preceding the Expected Final Payment Date therefor; (D) the amount on deposit in the Excess Funds Subaccount on the Payment Date immediately preceding the next True-Up Adjustment Date, will equal zero; and (E) the Environmental Control Charge Collections will provide for (i) amortization of the remaining outstanding principal balance of each Series in accordance with the Expected Sinking Fund Schedule therefor, (ii) payment of all Operating Expenses of the Issuer when due in accordance with the Indenture and (iii) deposits to the General Subaccount such that the balance therein will equal the Periodic Bond Payment Requirement on each Payment Date. (b) On each Semi-Annual Calculation Date, the Servicer shall file a Semi-Annual True-Up AdjustmentsAdjustment Filing with the PSCWV. On each Quarterly Calculation Date and Monthly Calculation Date, Semithe Servicer may file a Quarterly True-Annual Interim Up Adjustment Filing or Monthly True-Up Adjustment Filing, as the case may be, if necessary. Each True-Up Adjustment Filing shall include the data specified in the Statute and the Financing Order. (c) On each True-Up Adjustment Date, the Servicer shall (i) take all reasonable actions and make all reasonable efforts to effectuate all adjustments to the Environmental Control Charge either approved by the PSCWV or effective on an interim basis pending final approval and (ii) promptly send to the Indenture Trustee copies of all material notices and documents relating to such adjustments. (d) [On each True-Up Adjustment Date, the Servicer shall provide Moody’s with a schedule indicating any changes to the Environmental Control Charge. ] (e) If deemed appropriate by the Servicer to protect Environmental Control Bondholders and to remedy a significant and recurring variance between Actual Environmental Control Charge Collections and Estimated Environmental Control Charge Collections, as authorized by the Financing Order, the Servicer shall file Non-Routine True-Up Adjustments and Additional Interim to the Environmental Control Charge (as defined in the Financing Order) to accommodate material changes to the True-Up Adjustments as permitted pursuant Mechanism. Such filings shall be made at least 90 days prior to the Financing Order and shall take all reasonable action to obtain and implement such True-Up Adjustments for each proposed effective date of the Distribution Securitization Charges proposed adjustments. The Servicer shall provide notice of such non-routine adjustment and Power Supply Securitization Charges for resulting change to the purpose of correcting any overcollections and undercollections and ensuring the expected recovery of amounts required for the timely payment of debt service and other required amounts and charges in connection Environmental Control Charge to Fitch. The Servicer agrees to comply with the Securitization Bonds, all in accordance following servicing procedures to assess its compliance with the following: (a) Expected Amortization Schedule and Scheduled Principal Contribution Obligation Balance Schedule. The Expected Amortization Schedule for the Securitization Bonds is attached hereto as Exhibit E. If the Expected Amortization Schedule is revised, the Servicer shall send a copy of such revised Expected Amortization Schedule to the Issuer, the Indenture Trustee and the Rating Agencies promptly thereafter. For purposes of calculating each True-Up Adjustment, scheduled principal payments are allocated to be paid from Distribution Securitization Charge Collections and Power Supply Securitization Charge Collections in accordance with the Scheduled Principal Contribution Obligation Balance Schedule attached hereto as Exhibit F. If the Scheduled Principal Contribution Obligation Balance Schedule is revised, the Servicer shall send a copy of such revised Scheduled Principal Contribution Obligation Balance Schedule to the Issuer, the Indenture Trustee and the Rating Agencies promptly thereafterapplicable servicing criteria.

True-Up Adjustments. From time to time, until the Retirement of the Securitization Storm Recovery Bonds, but for a period no longer than (i) six (6) years from the beginning of the first complete billing cycle during which the Distribution Securitization Charges were initially placed on any Distribution Customer’s ▇▇▇▇ or (ii) fifteen (15) years from the beginning of the first complete billing cycle during which the Power Supply Securitization Charges were initially placed on any Power Supply Customers’ ▇▇▇▇, the Servicer shall identify the need file for Annual True-Up Adjustments, Semi-Annual Interim True-Up Adjustments and Additional Interim by submitting to the APSC a True-Up Adjustments as permitted pursuant to Request Letter substantially in the Financing Order form of Annex II hereto and shall take all other reasonable action to obtain and implement such True-Up Adjustments for each of the Distribution Securitization Charges and Power Supply Securitization Charges for the purpose of correcting any overcollections and undercollections and ensuring the expected recovery of amounts required for the timely payment of debt service and other required amounts and charges in connection with the Securitization BondsAdjustments, all in accordance with the following: : (a) Expected Amortization Schedule Semi-Annual True-Up Adjustments and Scheduled Principal Contribution Obligation Balance ScheduleFilings . The Expected Amortization Schedule for Semi-annually, no later than fifteen (15) days prior to the Securitization Bonds is attached hereto as Exhibit E. If end of the Expected Amortization Schedule is revisedfifth month preceding the month during which the next Payment Date occurs, the Servicer shall send a copy shall: (A) update the data and assumptions underlying the calculation of the Storm Recovery Charges, including projected electricity usage and write-offs during the current remaining period prior to such revised Expected Amortization Schedule Payment Date and prior to the Issuer, next succeeding Payment Date for each SRC Customer Class and including interest and estimated expenses and fees of the Indenture Trustee Issuer to be paid during such period; (B) determine the Periodic Payment Requirement and the Rating Agencies promptly thereafter. For purposes Periodic Billing Requirement for such Payment Date and the next succeeding Payment Date based on such updated data and assumptions; (C) determine the Storm Recovery Charges to be allocated to each SRC Customer Class for such Payment Date and the next succeeding Payment Date based on the related Periodic Payment Requirement and the terms of calculating each the Financing Order and the Tariff filed pursuant thereto and in doing so the Servicer shall use the Periodic Billing Requirement Allocation Factors approved in the Financing Order to allocate the Storm Recovery Charges; (D) file a True-Up Request Letter with the APSC to implement the True-Up Adjustments; (E) take all necessary actions and make all reasonable efforts to effect and implement such True-Up Adjustment, scheduled principal payments are allocated ; and (F) take such reasonable action to be paid from Distribution enforce the provisions of the Securitization Charge Collections Act and Power Supply Securitization Charge Collections in accordance with the Scheduled Principal Contribution Obligation Balance Schedule attached hereto as Exhibit F. If the Scheduled Principal Contribution Obligation Balance Schedule is revised, the Financing Order. The Servicer shall send a copy implement the revised Storm Recovery Charges, if any, resulting from such True-Up Adjustment as of such revised Scheduled Principal Contribution Obligation Balance Schedule to the Issuer, first billing day of the Indenture Trustee and fourth month preceding the Rating Agencies promptly thereaftermonth when the next Payment Date occurs .