Semiannual Servicer’s Certificate CenterPoint Energy Transition Bond Company IV, LLC $1,695,000,000 2012 Senior Secured Transition Bonds Pursuant to Section 6.13 of the Transition Property Servicing Agreement (the “Agreement”), dated as of January 19,...

 

Exhibit 99.1

 

Semiannual Servicer’s Certificate

CenterPoint Energy Transition Bond Company IV, LLC

$1,695,000,000 2012 Senior Secured Transition Bonds

 

Pursuant to Section 6.13 of the Transition Property Servicing Agreement (the “Agreement”), dated as of January 19, 2012, between CenterPoint Energy Houston Electric, LLC, as Servicer, and CenterPoint Energy Transition Bond Company IV, 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: April 12, 2024 through October 10, 2024

Payment Date: October 15, 2024

Today’s Date: October 10, 2024

 

1. Collections Allocable and Aggregate Amounts Available for Current Payment Date:                    
i.  Remittances for the April 12 through 30, 2024 Collection Period   6,014,297.48                 
ii.  Remittances for the May 1 through 31, 2024 Collection Period   11,161,856.61                 
iii.  Remittances for the June 1 through 30, 2024 Collection Period   11,361,994.62                 
iv.  Remittances for the July 1 through 31, 2024 Collection Period   16,116,301.42                 
v.  Remittances for the August 1 through 31, 2024 Collection Period   14,749,098.85                 
vi.  Remittances for the September 1 through 30, 2024 Collection Period   10,508,871.60                 
vii.  Remittances for the October 1 through 10, 2024 Collection Period   404,454.72                 
viii.  Net Earnings on General Subaccount   950,288.39      [4/1/2024 through 9/30/24]
ix.  General Subaccount Balance (sum of i through viii above)   71,267,163.69                 
x.  Excess Funds Subaccount Balance as of Current Payment Date   25,706,208.94                 
xi.  Capital Subaccount Balance as of Current Payment Date (1)   9,395,279.07                 
xii.  Collection Account Balance (sum of ix through xi above)   106,368,651.70                 

 

2. Outstanding Amounts as of Prior Payment Date:

i.  Tranche A-1 Principal Balance   0.00                 
ii.  Tranche A-2 Principal Balance   0.00                 
iii  Tranche A-3 Principal Balance   81,331,359.00                 
iv.  Aggregate Principal Balance of all Series 2012 Transition Bonds   81,331,359.00                 

 

3. Required Funding/Payments as of Current Payment Date:                
                 
      Projected             
      Principal   Semiannual         
   Principal  Balance   Principal Due         
i.  Tranche A-1   0.00    0.00         
ii.  Tranche A-2   0.00    0.00         
iii.  Tranche A-3   0.00    81,331,359.00         
iv.  For all Series 2012 Transition Bonds   0.00    81,331,359.00         

 

      Transition   Days in     
      Bond   Interest     
      Interest Rate   Period (2)   Interest Due 
v.  Required Tranche A-1 Interest   0.9012%   180    0.00 
vi.  Required Tranche A-2 Interest   2.1606%   180    0.00 
vii.  Required Tranche A-3 Interest   3.0282%   180    1,231,438.11 

 

(1)Including current period earnings of $240,015.16

(2)On 30/360 Day basis.

 

 

 

        Required Level
(Including Replenishment
of Amounts Previously
Withdrawn for  4.i.-4.viii.)		     Funding
Required		          
viii.   Capital Subaccount     9,395,279.07       0.00          
           
4. Allocation of Remittances as of Current Payment Date Pursuant to Section 8.02(d) of Indenture:                  
i.   Trustee Fees and Expenses     31,500.00                  
ii.   Servicing Fee     423,750.00  (1)                 
iii.   Administration Fee and Independent Manager Fee     50,000.00  (2)                 
iv.   Operating Expenses     70,531.66  (3)                 
v.   Semiannual Interest (including any past-due Semiannual Interest for prior periods)                        
                 
        Aggregate     Per 1,000
of Original
Principal Amount		          
    1. Tranche A-1 Interest Payment     0.00       0.00          
    2. Tranche A-2 Interest Payment     0.00       0.00          
    3. Tranche A-3 Interest Payment     1,231,438.11       1.81          
                 
vi.   Principal Due and Payable as a result of (A) Event of Default or (B) on Final Maturity Date                        
                 
        Aggregate     Per 1,000
of Original
Principal Amount		          
    1. Tranche A-1 Principal Payment     0.00       0.00          
    2. Tranche A-2 Principal Payment     0.00       0.00          
    3. Tranche A-3 Principal Payment     0.00       0.00          
                 
vii.   Principal Scheduled to be Paid on Current Payment Date                        
                 
        Aggregate     Per 1,000
of Original
Principal Amount		          
    1. Tranche A-1 Principal Payment     0.00       0.00          
    2. Tranche A-2 Principal Payment     0.00       0.00          
    3. Tranche A-3 Principal Payment     81,331,359.00       119.38          
                 
viii.   Operating Expenses not Paid under Clause (iv) above     0.00                  
ix.   Replenishment of Any Amounts Drawn from Capital Subaccount     0.00                  
x.   Amount Calculated at Servicer’s Authorized Rate of Return on Equity on the Amount Contributed to the Capital Subaccount in Excess of 0.5% of the Initial Outstanding Principal Balance of the Bonds Released to Issuer     NA                  
xi.   Net Earnings in Capital Subaccount Relating to the Initial Contribution of 0.5% of the Initial Outstanding Principal Balance of the Bonds Released to Issuer     0.00                  
xii.   Deposit to Excess Funds Subaccount     0.00                  
xiii.   Released to Issuer upon Series Retirement: Collection Account     0.00                  
xiv.   Aggregate Remittances as of Current Payment Date     83,138,578.77                  
                 
    (1)   Servicing fee: $1,695,000,000 x .05% x 180/360 = $423,750.00                        
    (2)   Administration fee: $100,000 x 180/360 = $50,000.00                        
    (3)   Reimbursement to Administrator for fees/expenses paid as follows:                        
    Outside counsel     0.00                  
    Printing     876.00                  
    Independent auditor     62,155.66                  
    Rating Agencies     7,500.00                  
    Total     70,531.66                  

 

 

 

5. Subaccount Release or Withdrawals as of Current Payment Date Pursuant to Section 8.02(d) of Indenture:                     
i.  Capital Subaccount Release (available for 4.xi.)   0.00                 
ii.  Excess Funds Subaccount Withdrawal (available for 4.i. through 4.x.)   11,871,415.08                 
iii.  Capital Subaccount Withdrawal (available for 4.i. through 4.viii.)   0.00                 
iv.  Total Release or Withdrawals   11,871,415.08                 
                         
6. Outstanding Amounts and Collection Account Balance as of Current Payment Date (after giving effect to payments to be made on such Payment Date):                     
i.  Tranche A-1 Principal Balance   0.00                 
ii.  Tranche A-2 Principal Balance   0.00                 
iii.  Tranche A-3 Principal Balance   0.00                 
iv.  Aggregate Principal Balance for all Series 2012 Transition Bonds   0.00                 
v.  Excess Funds Subaccount Balance   13,834,793.86                 
vi.  Capital Subaccount Balance   9,395,279.07                 
vii.  Aggregate Collection Account Balance   23,230,072.93                 
                         
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                     
                         
   1. Tranche A-1 Bond Interest Payment    0.00                 
   2. Tranche A-2 Bond Interest Payment    0.00                 
   3. Tranche A-3 Bond Interest Payment    0.00                 
                         
ii.  Semiannual Principal                     
                         
   1. Tranche A-1 Principal Payment    0.00                 
   2. Tranche A-2 Principal Payment    0.00                 
   3. Tranche A-3 Principal Payment    0.00                 
                         
8. Shortfall in Required Subaccount Level as of Current Payment Date (after giving effect to payments to be made on such Payment Date):                     
i.  Capital Subaccount   0.00                 

 

IN WITNESS HEREOF, the undersigned has duly executed and delivered this Semiannual Servicer’s Certificate this 10th day of October, 2024.  
   
CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC, as Servicer  
   
by: /s/ Xxxxx Xxxxxx  
  Xxxxx Xxxxxx  
  Assistant Treasurer  

 

 

 

AutoNDA by SimpleDocs

Document Metadata

Filed: October 16th, 2024
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!