Attached files
Exhibit 10.6
Semiannual Servicer’s Certificate | |||||||||
CenterPoint Energy Transition Bond Company, LLC (formerly Reliant Energy Transition Bond Company LLC) | |||||||||
$748,897,000 Transition Bonds, Series 2001-1 | |||||||||
Pursuant to Section 6 of Annex 1 to the Transition Property Servicing Agreement (the "Agreement"), dated as of October 24, 2001, between | |||||||||
CenterPoint Energy Houston Electric, LLC (formerly Reliant Energy, Incorporated), as Servicer, and CenterPoint Energy Transition Bond Company, LLC | |||||||||
(formerly Reliant Energy Transition Bond Company LLC), as Issuer, the Servicer does hereby certify as follows: | |||||||||
Capitalized terms used in this Semiannual Servicer’s Certificate have their respective meanings as | |||||||||
set forth in the Agreement. References herein to certain sections and subsections are references | |||||||||
to the respective sections and subsections of the Agreement. | |||||||||
Collection Periods: September 14, 2011 through March 13, 2012 | |||||||||
Payment Date: March 15, 2012 | |||||||||
Today's Date: March 13, 2012 | |||||||||
1. Collections Allocable and Aggregate Amounts Available for Current Payment Date: | |||||||||||
i. | Remittances for the September 14 through 30, 2011 Collection Period | 6,221,801.54 | |||||||||
ii. | Remittances for the October 1 through 31, 2011 Collection Period | 10,327,083.08 | |||||||||
iii. | Remittances for the November 1 through 30, 2011 Collection Period | 9,682,548.96 | |||||||||
iv. | Remittances for the December 1 through 31, 2011 Collection Period | 7,695,457.85 | |||||||||
v. | Remittances for the January 1 through 31, 2012 Collection Period | 7,853,861.64 | |||||||||
vi. | Remittances for the February 1 through 29, 2012 Collection Period | 8,692,000.57 | |||||||||
vii. | Remittances for the March 1 through 13, 2012 Collection Period | 3,217,024.25 | |||||||||
viii. | Net Earnings on Collection Account | [through 2/29/12] | |||||||||
General Subaccount | 14,968.38 | ||||||||||
Overcollateralization Subaccount | 1,582.52 | ||||||||||
Capital Subaccount | 1,903.75 | ||||||||||
Reserve Subaccount | 3,927.38 | ||||||||||
ix. | General Subaccount Balance (sum of i through viii above) | 53,712,159.92 | |||||||||
x. | Reserve Subaccount Balance as of Prior Payment Date | 7,128,173.89 | |||||||||
xi. | Overcollateralization Subaccount Balance as of Prior Payment Date | 3,120,404.17 | |||||||||
xii. | Capital Subaccount Balance as of Prior Payment Date | 3,744,485.00 | |||||||||
xiii. | Collection Account Balance (sum of ix through xii above) | 67,705,222.98 | |||||||||
2. Outstanding Amounts as of Prior Payment Date: | |||||||||||
i. | Class A-1 Principal Balance | 0.00 | |||||||||
ii. | Class A-2 Principal Balance | 0.00 | |||||||||
iii. | Class A-3 Principal Balance | 0.00 | |||||||||
iv. | Class A-4 Principal Balance | 207,818,916.00 | |||||||||
v. | Aggregate Principal Balance of all Series 2001-1 Transition Bonds | 207,818,916.00 | |||||||||
3. Required Funding/Payments as of Current Payment Date: | |||||||||||||
Projected Principal | Semiannual | ||||||||||||
Series 2001-1 Principal | Balance | Principal Due | |||||||||||
i. | Class A-1 | 0.00 | 0.00 | ||||||||||
ii. | Class A-2 | 0.00 | 0.00 | ||||||||||
iii. | Class A-3 | 0.00 | 0.00 | ||||||||||
iv. | Class A-4 | 174,081,107.00 | 33,737,809.00 | ||||||||||
v. | For all Series 2001-1 Transition Bonds | 174,081,107.00 | 33,737,809.00 | ||||||||||
Transition Bond | Days in Interest | ||||||||||||
Interest Rate | Period (1) | Interest Due | |||||||||||
vi. | Required Class A-1 Interest | 3.840 | % | 180 | 0.00 | ||||||||
vii. | Required Class A-2 Interest | 4.760 | % | 180 | 0.00 | ||||||||
viii. | Required Class A-3 Interest | 5.160 | % | 180 | 0.00 | ||||||||
ix. | Required Class A-4 Interest | 5.630 | % | 180 | 5,850,102.49 | ||||||||
(1) On 30/360 Day basis. | |||||||||||||
Required Level | Funding Required | |||||||||||
x. | Overcollateralization Subaccount | 3,276,424.38 | 156,020.21 | |||||||||
xi. | Capital Subaccount | 3,744,485.00 | 0.00 | |||||||||
4. Allocation of Remittances as of Current Payment Date Pursuant to Section 8.02(d) of Indenture: | ||||||||||||
i. | Trustee Fees and Expenses | 2,560.00 | ||||||||||
ii. | Servicing Fee | 187,224.25 | (1) | |||||||||
iii. | Administration Fee and Independent Managers Fee | 53,500.00 | (2) | |||||||||
iv. | Operating Expenses | 29,100.17 | (3) | |||||||||
v. | Semiannual Interest (including any past-due Semiannual Interest for prior periods) | |||||||||||
Per 1,000 | ||||||||||||
of Original | ||||||||||||
Series 2001-1 | Aggregate | Principal Amount | ||||||||||
1. Class A-1 Interest Payment | 0.00 | 0.00 | ||||||||||
2. Class A-2 Interest Payment | 0.00 | 0.00 | ||||||||||
3. Class A-3 Interest Payment | 0.00 | 0.00 | ||||||||||
4. Class A-4 Interest Payment | 5,850,102.49 | 15.16 | ||||||||||
vi. | Principal Due and Payable as a result of Event of Default or on Final Maturity Date | |||||||||||
Per 1,000 | ||||||||||||
of Original | ||||||||||||
Series 2001-1 | Aggregate | Principal Amount | ||||||||||
1. Class A-1 Principal Payment | 0.00 | 0.00 | ||||||||||
2. Class A-2 Principal Payment | 0.00 | 0.00 | ||||||||||
3. Class A-3 Principal Payment | 0.00 | 0.00 | ||||||||||
4. Class A-4 Principal Payment | 0.00 | 0.00 | ||||||||||
vii. | Semiannual Principal | |||||||||||
Per 1,000 | ||||||||||||
of Original | ||||||||||||
Series 2001-1 | Aggregate | Principal Amount | ||||||||||
1. Class A-1 Principal Payment | 0.00 | 0.00 | ||||||||||
2. Class A-2 Principal Payment | 0.00 | 0.00 | ||||||||||
3. Class A-3 Principal Payment | 0.00 | 0.00 | ||||||||||
4. Class A-4 Principal Payment | 33,737,809.00 | 87.43 | ||||||||||
viii. | Amounts Payable to Credit Enhancement Providers (if applicable) | N/A | ||||||||||
ix. | Operating Expenses not Paid under Clause (iv) above | 0.00 | ||||||||||
x. | Funding of Capital Subaccount | 0.00 | ||||||||||
xi. | Funding of Overcollateralization Subaccount | 156,020.21 | ||||||||||
xii. | Net Earnings in Capital Subaccount Released to Issuer | 1,903.75 | ||||||||||
xiii. | Deposit to Reserve Subaccount | 13,693,940.05 | ||||||||||
xiv. | Released to Issuer upon Series Retirement: Collection Account | 0.00 | ||||||||||
xv. | Aggregate Remittances as of Current Payment Date | 53,712,159.92 | ||||||||||
(1) Servicing fee: $748,897,000 x .05% x 180/360 = $187,224.25 | ||||||||||||
(2) Administration fee: $50,000 x 180/180 = $50,000.00; Independent Managers fee: $3,500.00 | ||||||||||||
(3) Reimbursement to Administrator for fees/expenses paid to rating agencies ($5,000.00), | ||||||||||||
outside legal counsel ($3,100.17) and independent accountants ($21,000.00). | ||||||||||||
5. Subaccount Withdrawals as of Current Payment Date | ||||||||||
(if applicable, pursuant to Section 8.02(d) of Indenture): | ||||||||||
i. | Reserve Subaccount (available for 4.i. through 4.xii.) | 0.00 | ||||||||
ii. | Overcollateralization Subaccount (available for 4.i. through 4.ix.) | 0.00 | ||||||||
iii. | Capital Subaccount (available for 4.i. through 4.ix.) | 0.00 | ||||||||
iv. | Total Withdrawals | 0.00 | ||||||||
6. Outstanding Amounts and Collection Account Balance as of Current Payment Date | |||||||||||
(after giving effect to payments to be made on such Payment Date): | |||||||||||
Series 2001-1 | |||||||||||
i. | Class A-1 Principal Balance | 0.00 | |||||||||
ii. | Class A-2 Principal Balance | 0.00 | |||||||||
iii. | Class A-3 Principal Balance | 0.00 | |||||||||
iv. | Class A-4 Principal Balance | 174,081,107.00 | |||||||||
v. | Aggregate Principal Balance for all Series 2001-1 Transition Bonds | 174,081,107.00 | |||||||||
vi. | Reserve Subaccount Balance | 20,822,113.94 | |||||||||
vii. | Overcollateralization Subaccount Balance | 3,276,424.38 | |||||||||
viii. | Capital Subaccount Balance | 3,744,485.00 | |||||||||
ix. | Aggregate Collection Account Balance | 27,843,023.32 | |||||||||
7. Shortfalls In Interest and Principal Payments as of Current Payment Date | ||||||||||
(after giving effect to payments to be made on such Payment Date): | ||||||||||
i. | Semiannual Interest | |||||||||
Series 2001-1 | ||||||||||
1. Class A-1 Bond Interest Payment | 0.00 | |||||||||
2. Class A-2 Bond Interest Payment | 0.00 | |||||||||
3. Class A-3 Bond Interest Payment | 0.00 | |||||||||
4. Class A-4 Bond Interest Payment | 0.00 | |||||||||
ii. | Semiannual Principal | |||||||||
Series 2001-1 | ||||||||||
1. Class A-1 Principal Payment | 0.00 | |||||||||
2. Class A-2 Principal Payment | 0.00 | |||||||||
3. Class A-3 Principal Payment | 0.00 | |||||||||
4. Class A-4 Principal Payment | 0.00 | |||||||||
8. Shortfalls in Required Subaccount Levels as of Current Payment Date | ||||||||||
(after giving effect to payments to be made on such Payment Date): | ||||||||||
i. | Overcollateralization Subaccount | 0.00 | ||||||||
ii. | Capital Subaccount | 0.00 | ||||||||
IN WITNESS HEREOF, the undersigned has duly executed and delivered this | ||||
Semiannual Servicer's Certificate this 13th day of March, 2012. | ||||
CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC | ||||
(formerly RELIANT ENERGY, INCORPORATED), as Servicer | ||||
by: | /s/ Linda Geiger | |||
Linda Geiger | ||||
Assistant Treasurer | ||||