Contract
Exhibit 99 |
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Quarterly Servicer's Certificate |
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1. |
Collections Allocable and Aggregate Amounts Available for the Current Payment Date: |
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i. |
Remittances for the March 2003 Collection Period |
$9,615,949.58 |
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ii. |
Remittances for the April 2003 Collection Period |
$9,425,736.64 |
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iii. |
Remittances for the May 2003 Collection Period |
$8,681,006.27 |
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iv. |
Net Earnings on General Subaccount |
$32,984.98 |
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v. |
Net Earnings on Capital Subaccount |
$6,748.20 |
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vi. |
Net Earnings on Overcollateralization Subaccount |
$0.00 |
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vii. |
Net Earnings on Reserve Subaccount |
$0.00 |
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viii. |
General Subaccount Balance |
$27,762,425.67 |
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ix. |
Reserve Subaccount Balance |
$0.00 |
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x. |
Overcollateralization Subaccount Balance |
$0.00 |
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xi. |
Capital Subaccount Balance |
$2,816,129.53 |
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xii. |
Collection Account Balance |
$30,578,555.20 |
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2. |
Outstanding Principal Balance and Collection Account Balance as of Prior Payment Date: |
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i. |
Class A-1 Principal Balance |
$0.00 |
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ii. |
Class A-2 Principal Balance |
$48,809,480.17 |
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iii. |
Class A-3 Principal Balance |
$198,000,000.00 |
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iv. |
Class A-4 Principal Balance |
$156,000,000.00 |
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v. |
Transition Bond Principal Balance |
$402,809,480.17 |
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vi. |
Reserve Subaccount Balance |
$0.00 |
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vii. |
Overcollateralization Subaccount Balance |
$0.00 |
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viii. |
Capital Subaccount Balance |
$2,816,129.53 |
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3. |
Required Funding/Payments as of Current Payment Date: |
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i. |
Projected Class A-1 Bond Balance |
$0.00 |
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ii. |
Projected Class A-2 Bond Balance |
$29,309,616.14 |
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iii. |
Projected Class A-3 Bond Balance |
$198,000,000.00 |
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iv. |
Projected Class A-4 Bond Balance |
$156,000,000.00 |
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v. |
Projected Transition Bond Balance |
$383,309,616.14 |
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vi. |
Required Class A-1 Coupon (6.32% per annum rate) |
$0.00 |
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vii. |
Required Class A-2 Coupon (6.63% per annum rate) |
$809,017.13 |
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viii. |
Required Class A-3 Coupon (6.81% per annum rate) |
$3,370,950.00 |
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ix. |
Required Class A-4 Coupon (6.98% per annum rate) |
$2,722,200.00 |
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x. |
Required Overcollateralization Funding |
$1,235,294.12 |
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xi. |
Required Capital Subaccount Funding |
$183,870.47 |
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4. |
Allocation of Remittances as of Current Payment Date Pursuant to 8.02d of the Indenture: |
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i. |
Cumulative Monthly Administration Fee during Relevant Quarter |
$20,000.00 |
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ii. |
Bond Trustee Fees and Expenses |
* |
$750.00 |
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iii. |
Independent Directors' Fee |
** |
$2,500.00 |
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iv. |
Servicing Fee |
$312,500.00 |
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v. |
Operating Expenses (subject to $100,000 cap) |
$1,064.02 |
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vi. |
Quarterly Interest |
$6,902,167.13 |
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1. |
Class A-1 Bond Coupon Payment |
$0.00 |
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2. |
Class A-2 Bond Coupon Payment |
$809,017.13 |
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3. |
Class A-3 Bond Coupon Payment |
$3,370,950.00 |
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4. |
Class A-4 Bond Coupon Payment |
$2,722,200.00 |
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vii. |
Principal Due and Payable |
$0.00 |
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viii. |
Scheduled Quarterly Principal |
$19,499,864.03 |
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1. |
Class A-1 Bond Principal Payment |
$0.00 |
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2. |
Class A-2 Bond Principal Payment |
$19,499,864.03 |
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3. |
Class A-3 Bond Principal Payment |
$0.00 |
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4. |
Class A-4 Bond Principal Payment |
$0.00 |
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ix. |
Operating Expenses (in excess of $100,000) |
$0.00 |
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x. |
Funding of Capital Subaccount (to required level) |
$183,870.47 |
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xi. |
Funding of Overcollateralization Subaccount (to required level) |
$839,710.02 |
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xii. |
Net Earnings on Capital Subaccount Released to Issuer |
$0.00 |
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xiii. |
Deposits to Reserve Subaccount |
$0.00 |
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xiv. |
Released to Issuer upon Series Retirement: Collection Account |
$0.00 |
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5. |
Outstanding Principal Balance and Collection Account Balance as of Current Payment Date: |
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i. |
Class A-1 Principal Balance |
$0.00 |
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ii. |
Class A-2 Principal Balance |
$29,309,616.14 |
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iii. |
Class A-3 Principal Balance |
$198,000,000.00 |
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iv. |
Class A-4 Principal Balance |
$156,000,000.00 |
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v. |
Transition Bond Principal Balance |
$383,309,616.14 |
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vi. |
Reserve Subaccount Balance |
$0.00 |
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vii |
Overcollateralization Subaccount Balance |
$839,710.02 |
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viii |
Capital Subaccount Balance |
$3,000,000.00 |
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6. |
Subaccount Draws as of Current Payment Date (if applicable, pursuant to Section 8.02d |
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i. |
Reserve Subaccount |
$0.00 |
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ii. |
Overcollateralization Subaccount |
$0.00 |
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iii. |
Capital Subaccount |
$0.00 |
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iv. |
Total Draws |
$0.00 |
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7. |
Shortfalls In Interest and Principal Payments as of Current Payment Date: |
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i. |
Quarterly Interest |
$0.00 |
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1. |
Class A-1 Bond Coupon Payment |
$0.00 |
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2. |
Class A-2 Bond Coupon Payment |
$0.00 |
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3. |
Class A-3 Bond Coupon Payment |
$0.00 |
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4. |
Class A-4 Bond Coupon Payment |
$0.00 |
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ii. |
Quarterly Principal |
$0.00 |
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1. |
Class A-1 Bond Principal Payment |
$0.00 |
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2. |
Class A-2 Bond Principal Payment |
$0.00 |
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3. |
Class A-3 Bond Principal Payment |
$0.00 |
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4. |
Class A-4 Bond Principal Payment |
$0.00 |
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8. |
Shortfalls in Required Subaccount Levels as of Current Payment Date: |
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i. |
Overcollateralization Subaccount |
$395,584.10 |
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ii. |
Capital Subaccount |
$0.00 |
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* |
$750 per quarter, in advance plus expenses, in arrears. |
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** |
Independent Directors' Fee is $2,500 per year, in advance. |
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IN WITNESS HEREOF, the undersigned has duly executed and delivered this Quarterly Servicer's Bond |
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West Penn Power Company, as Servicer |
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By: /s/ X. X. XXXXXX |