PED Licence definition
PED Licence. EEL has been duly licensed by the Secretary of State as a Public Electricity Distributor to distribute electricity, the PED Licence is in full force and effect, and no notice of revocation, modification or amendment of the PED Licence has been received by it;
PED Licence means the licence granted to the Borrower under section 6(1)(d) of the Electricity Act, authorising the Borrower to distribute electricity to the public, or any additional or replacement licence(s) for the distribution of electricity granted from time to time to any member of the Group (or, if more than one replacement, the most recent such replacement), each as amended from time to time; and
PED Licence. EEL is not in contravention of any term of the PED Licence, or any requirement of the Electricity Act or the Utilities Act (or other related legislation), where such contravention would have a Material Adverse Effect;