Attached files
EXHIBIT
33.1
REPORT
ON ASSESSMENT OF COMPLIANCE WITH SERVICING CRITERIA
FOR
ASSET-BACKED SECURITIES
Entergy
Texas, Inc. (the “Servicer”), as a party participating in the servicing function
under Item 1122 of Regulation AB, hereby reports on its assessment of compliance
with the servicing criteria specified in paragraph (d) of Item 1122 of
Regulation AB, as follows:
(1) The
Servicer is responsible for assessing compliance with the servicing criteria
applicable to it. The servicing criteria specified in the following paragraphs
of paragraph (d) of Item 1122 of Regulation AB are not applicable to the
Servicer based on the activities it performs with respect to asset-backed
securities transactions taken as a whole involving the Servicer and that are
backed by the same asset type backing the Senior Secured Transition Bonds,
Series A: (1)(ii) (outsourcing), (1)(iii) (back-up servicing), (1)(iv) (fidelity
bond), 2(iii) (advances or guarantees), (2)(vi) (unissued checks), (4)(iii)
(additions, removals or substitutions), 4(v) (records regarding pool assets),
(4)(ix) (adjustments to interest rates), (4)(x) (funds held in trust for an
obligor), (4)(xi) (payments on behalf of obligors), (4)(xii) (late payment
penalties), (4)(xiii) (obligor disbursements), (4)(xv) (external credit
enhancement);
(2) The
Servicer used the criteria in paragraph (d) of Item 1122 of Regulation AB to
assess compliance with the applicable servicing criteria;
(3) The
Servicer has determined that it is in compliance with the applicable servicing
criteria as of and for the year ending December 31, 2009, which is the period
covered by this report on Form 10-K, other than as specified on Schedule A
attached hereto; and
(4)
Deloitte & Touche LLP, a registered public accounting firm, has issued an
attestation report on the Servicer's assessment of compliance with the
applicable servicing criteria as of and for the year ended December 31, 2009,
which is the period covered by this report on Form 10-K.
Schedule
A
Instances
of Non-Compliance by the Servicer
1122(d)(3)(i): Reports
to investors, including those to be filed with the Commission, are maintained in
accordance with the transaction agreements and applicable Commission
requirements. Specifically, such reports (A) are prepared in accordance with
timeframes and other terms set forth in the transaction agreements; (B) provide
information calculated in accordance with the terms specified in the transaction
agreements; (C) are filed with the Commission as required by its rules and
regulations; and (D) agree with investors’ or the trustee’s records as to the
total unpaid principal balance and number of pool assets serviced by the
Servicer.
Two
monthly servicer certificates during the year ended December 31, 2009 were not
delivered to Entergy Gulf States Reconstruction Funding I, LLC, the Public
Utility Commission of Texas, the Indenture Trustee and the Rating Agencies on or
before the required date as indicated by the Servicing
Agreement. Monthly servicer certificates are required to be delivered
by the Servicer no later than the twenty-fifth day of each month. One
monthly servicer certificate which was due on or before May 25, 2009 was
delivered on May 26, 2009, and another monthly servicer certificate which was
due on or before June 25, 2009 was delivered on June 30,
2009. Existing procedures have been reviewed to ensure that future
monthly servicer certificates are delivered on or before the twenty-fifth day of
each month.
Date: March
29, 2010
Entergy
Texas, Inc., as servicer
By: /s/ Theodore H. Bunting,
Jr.
Name: Theodore
H. Bunting, Jr.
Title: Senior
Vice President and Chief Accounting Officer