Mon Power definition
Examples of Mon Power in a sentence
In any proceedings related to the exercise of the power of eminent domain by any municipality to acquire a portion of Mon Power’s electric distribution facilities, the Servicer shall assert that the court ordering such condemnation must treat such municipality as a successor to Mon Power under the Statute and Financing Order.
Notice of any such determination permitting the resignation of Mon Power shall be communicated to the Issuer, the PSCWV, the Indenture Trustee and each Rating Agency at the earliest practicable time (and, if such communication is not in writing, shall be confirmed in writing at the earliest practicable time), and any such determination shall be evidenced by an Opinion of Counsel to such effect delivered to the Issuer, the PSCWV and the Indenture Trustee concurrently with or promptly after such notice.
Subject to the provisions of Sections 5.03 and 5.04, Mon Power shall not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon a determination that the performance of its duties under this Agreement shall no longer be permissible under applicable Requirements of Law.
No such resignation shall become effective until a Successor Servicer has been approved by the PSCWV and shall have assumed the servicing obligations and duties hereunder of Mon Power in accordance with Section 6.04.
The Servicing Fee with respect to a Series for a Payment Date shall be as follows: so long as Mon Power acts as the Servicer, the Servicing Fee will be 0.05% per annum of the initial principal balance of the Environmental Control Bonds, payable semi-annually, in arrears; if a Successor Servicer is appointed, the Servicing Fee will be based on an amount approved by the PSCWV, but not in excess of a per annum rate equal to 1.25% of the initial principal balance of the Environmental Control Bonds.
In addition, all material required to be filed by the Issuer or Mon Power pursuant to Rule 433(d) under the Securities Act that was prepared by either of them or that was prepared by any Underwriter and timely provided to the Issuer or Mon Power shall have been filed with the Commission within the applicable time period prescribed for such filing by such Rule 433(d).
Mon Power has been duly incorporated and is validly existing as a corporation in good standing under the laws of the State of Ohio.
Bills means each of the periodic bills and the Closing Bills issued to Customers or Third Parties by Mon Power.
Mon Power shall promptly transmit any notice received by it from the Environmental Control Bondholders to the Indenture Trustee.
Promptly after the execution by the Issuer and the Indenture Trustee of any Supplemental Indenture pursuant to this Section, the Indenture Trustee shall mail to the Rating Agencies, Mon Power and the Holders of the Environmental Control Bonds to which such amendment or Supplemental Indenture relates, a notice prepared by the Issuer setting forth in general terms the substance of such Supplemental Indenture.