ITC Collections definition
Examples of ITC Collections in a sentence
The Servicer will be entitled to retain as additional compensation net investment income on ITC Collections related to Serviced Intangible Transition Property received by the Servicer prior to each Remittance Date and the late fees, if any, paid by Customers to the Servicer.
All the Bond Trustees acting together may waive in writing any default by the Servicer in the performance of its obligations hereunder and its consequences, except a default in making any required remittances to any Bond Trustee of ITC Collections from Serviced Intangible Transition Property in accordance with Section 5.10 of this Agreement.
Prior to remittance on the applicable Remittance Date, the Servicer may invest ITC Collections received at its own risk and for its own benefit, and such investments and funds shall not be required to be segregated from the other investments and funds of the Servicer.
The Servicer agrees to remit actual ITC Collections for any Billing Month to the Trustee for deposit in the Collection Account not later than the Remittance Date immediately following the Reconciliation Date for such Billing Month.
The costs of any such action shall be payable from ITC Collections as an Operating Expense in accordance with the Indenture at the time such costs are incurred.
The Bond Trustee may waive in writing any default by the Servicer in the performance of its obligations hereunder and its consequences, except a default in making any required remittances to the Bond Trustee of ITC Collections from Serviced Intangible Transition Property in accordance with Section 5.10 of this Agreement.
The costs of any such action shall be payable from ITC Collections as an Operating Expense in accordance with the priorities set forth in Section 8.02(d) of the Indenture at the time such costs are incurred.
The costs of any such action reasonably allocated by the Servicer to the Serviced Intangible Transition Property shall be payable from ITC Collections as an Operating Expense in accordance with the Indenture.
The Servicer will be entitled to retain as additional compensation net investment income on ITC Collections related to Serviced Intangible Transition Property received by the Servicer during any Collection Period and the late fees, if any, paid by Customers to the Servicer.
The Trustee, with the consent of Holders of the majority of the outstanding principal amount of the Transition Bonds of all Series, may waive in writing any default by the Servicer in the performance of its obligations hereunder and its consequences, except a default in making any required remittances to the Trustee of ITC Collections from Serviced Intangible Transition Property in accordance with Section 5.10 of this Agreement.