Trans-Elect definition

Trans-Elect. Trans-Elect, Inc., a Michigan corporation.

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Trans-Elect means Trans-Elect, Inc., a Michigan corporation, or, following the conversion of Trans-Elect, Inc. to a limited liability company as part of the Restructuring, Trans-Elect LLC, a Michigan limited liability company, and, in each case, all of its direct and indirect subsidiaries (except for TEM, METC and MTH) and its direct parent company Trans-Elect Holding Company (or, following the conversion of Trans-Elect Holding Company to a limited liability company as part of the Restructuring, Trans-Elect Holdings, LLC).

Examples of Trans-Elect in a sentence

• Except as set forth on Schedule 6.2 and other than its ownership interest in the Subsidiaries and TEM (i) Trans-Elect does not have, or has not had, any material assets and does not own, or has not owned, any interest in any Person and (ii) after its formation and through the Closing, New TE will not have any employees, assets or Liabilities or own any interest in any Person.

• Trans-Elect is Solvent and, following the Restructuring, Trans-Elect will be, on a consolidated basis, and New TE will be, on a consolidated basis, Solvent after giving effect to the Restructuring and any other transactions contemplated hereby or by Trans-Elect or any of its Affiliates which could be taken into account in determining whether the transactions contemplated hereby, including the Restructuring, were a fraudulent conveyance or impermissible dividend under applicable law.

• Each of the TE Parents and Trans-Elect, has the requisite power and authority to own or lease and operate its assets and to carry on its business in the manner in which that they are presently being conducted.

• The Selling Shareholders and Trans-Elect hereby consent to the use of the METC logo, subject to the Selling Shareholders' and Trans-Elect's prior written approval of its use (such approval not to be unreasonably withheld or delayed), in connection with any Financing.

• Transmission service over Trans-Elect high voltage transmission facilities and Entitlements placed under the CAISO’s Operational Control shall be provided only to Eligible Customers as defined by the CAISO Tariff.

• In the case of Trans-Elect, the Federal Energy Regulatory Commission (FERC).

• No other proceedings on the part of the TE Parents or Trans-Elect are necessary to authorize the execution, delivery and performance of this Agreement by the TE Parents.

• Each of the TE Parents and Trans-Elect has been duly formed and is validly existing and in good standing under the laws of the jurisdiction of its formation.

• The Buyer shall have paid the MSA Termination Amount on behalf of METC to Trans-Elect LLC.

• If any Ancillary Services are required, Trans-Elect will not provide such services, but the transmission customer will be required to meet any such requirement in accordance with the CAISO Tariff.