Contract
Exhibit 10.1
Semiannual Servicer’s Certificate
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CenterPoint Energy Transition Bond Company, LLC (formerly Reliant Energy Transition Bond Company LLC)
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$748,897,000 Transition Bonds, Series 2001-1
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Pursuant to Section 6 of Annex 1 to the Transition Property Servicing Agreement (the "Agreement"), dated as of October 24, 2001, between
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CenterPoint Energy Houston Electric, LLC (formerly Reliant Energy, Incorporated), as Servicer, and CenterPoint Energy Transition Bond Company, LLC
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(formerly Reliant Energy Transition Bond Company LLC), as Issuer, the Servicer does hereby certify as follows:
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Capitalized terms used in this Semiannual Servicer’s Certificate have their respective meanings as
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set forth in the Agreement. References herein to certain sections and subsections are references
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to the respective sections and subsections of the Agreement.
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Collection Periods: March 12, 2010 through September 13, 2010
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Payment Date: September 15, 2010
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Today's Date: September 13, 2010
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1. Collections Allocable and Aggregate Amounts Available for Current Payment Date:
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||||||||
i.
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Remittances for the March 12 through 31, 2010 Collection Period
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5,400,066.81
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||||||
ii.
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Remittances for the April 1 through 30, 2010 Collection Period
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7,944,624.83
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||||||
iii.
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Remittances for the May 1 through 31, 2010 Collection Period
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6,868,257.51
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||||||
iv.
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Remittances for the June 1 through 30, 2010 Collection Period
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8,809,260.02
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||||||
v.
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Remittances for the July 1 through 31, 2010 Collection Period
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10,826,667.49
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||||||
vi.
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Remittances for the August 1 through 31, 2010 Collection Period
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11,567,152.54
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||||||
vii.
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Remittances for the September 1 through 13, 2010 Collection Period
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4,887,195.02
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||||||
viii.
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Net Earnings on Collection Account
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[through 8/31/10] | ||||||
General Subaccount
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7,496.60
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|||||||
Overcollateralization Subaccount
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669.06
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|||||||
Capital Subaccount
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6,934.03
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|||||||
Reserve Subaccount
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2,774.89
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|||||||
ix.
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General Subaccount Balance (sum of i through viii above)
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56,321,098.80
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x.
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Reserve Subaccount Balance as of Prior Payment Date
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11,330,563.04
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||||||
xi.
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Overcollateralization Subaccount Balance as of Prior Payment Date
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2,652,343.54
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||||||
xii.
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Capital Subaccount Balance as of Prior Payment Date (1)
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3,744,485.00
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||||||
xiii.
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Collection Account Balance (sum of ix through xii above)
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74,048,490.38
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||||||
(1) Net of unreleased earnings moved into General Subaccount
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2. Outstanding Amounts as of Prior Payment Date:
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||||||||
i.
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Class A-1 Principal Balance
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0.00
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||||||
ii.
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Class A-2 Principal Balance
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0.00
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||||||
iii.
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Class A-3 Principal Balance
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0.00
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||||||
iv.
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Class A-4 Principal Balance
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348,948,555.00
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||||||
v.
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Aggregate Principal Balance of all Series 2001-1 Transition Bonds
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348,948,555.00
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3. Required Funding/Payments as of Current Payment Date:
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||||||||
Series 2001-1 Principal
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Projected
Principal
Balance
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Semiannual
Principal Due
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||||||
i.
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Class A-1
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0.00
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0.00
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|||||
ii.
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Class A-2
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0.00
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0.00
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|||||
iii.
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Class A-3
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0.00
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0.00
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|||||
iv.
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Class A-4
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295,814,313.00
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53,134,242.00
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|||||
v.
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For all Series 2001-1 Transition Bonds
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295,814,313.00
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53,134,242.00
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Transition
Bond
Interest Rate
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Days in
Interest
Period (1)
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Interest Due
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||||||
vi.
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Required Class A-1 Interest
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3.840%
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180
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0.00
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||||
vii.
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Required Class A-2 Interest
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4.760%
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180
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0.00
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||||
viii.
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Required Class A-3 Interest
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5.160%
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180
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0.00
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||||
ix.
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Required Class A-4 Interest
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5.630%
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180
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9,822,901.82
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||||
(1) On 30/360 Day basis.
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Required Level
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Funding
Required
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||||||
x.
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Overcollateralization Subaccount
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2,808,363.75
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156,020.21
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|||||
xi.
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Capital Subaccount
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3,744,485.00
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0.00
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4. Allocation of Remittances as of Current Payment Date Pursuant to Section 8.02(d) of Indenture:
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||||||||
i.
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Trustee Fees and Expenses
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0.00
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||||||
ii.
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Servicing Fee
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187,224.25
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(1)
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|||||
iii.
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Administration Fee and Independent Managers Fee
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50,000.00
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(2)
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|||||
iv.
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Operating Expenses
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79,508.60
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(3)
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|||||
v.
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Semiannual Interest (including any past-due Semiannual Interest for prior periods)
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Series 2001-1
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Aggregate
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Per 1,000
of Original
Principal Amount
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|||||
1. Class A-1 Interest Payment
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0.00
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0.00
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||||||
2. Class A-2 Interest Payment
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0.00
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0.00
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||||||
3. Class A-3 Interest Payment
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0.00
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0.00
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||||||
4. Class A-4 Interest Payment
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9,822,901.82
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25.45
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vi.
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Principal Due and Payable as a result of Event of Default or on Final Maturity Date
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|||||||
Series 2001-1
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Aggregate
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Per 1,000
of Original
Principal Amount
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||||||
1. Class A-1 Principal Payment
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0.00
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0.00
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||||||
2. Class A-2 Principal Payment
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0.00
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0.00
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||||||
3. Class A-3 Principal Payment
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0.00
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0.00
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||||||
4. Class A-4 Principal Payment
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0.00
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0.00
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vii.
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Semiannual Principal
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|||||||
Series 2001-1
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Aggregate
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Per 1,000
of Original
Principal Amount
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|
|||||
1. Class A-1 Principal Payment
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0.00
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0.00
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||||||
2. Class A-2 Principal Payment
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0.00
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0.00
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||||||
3. Class A-3 Principal Payment
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0.00
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0.00
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||||||
4. Class A-4 Principal Payment
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53,134,242.00
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137.69
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viii.
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Amounts Payable to Credit Enhancement Providers (if applicable)
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N/A
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||||||
ix.
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Operating Expenses not Paid under Clause (iv) above
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0.00
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||||||
x.
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Funding of Capital Subaccount
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0.00
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||||||
xi.
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Funding of Overcollateralization Subaccount
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156,020.21
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||||||
xii.
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Net Earnings in Capital Subaccount Released to Issuer
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6,934.03
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||||||
xiii.
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Deposit to Reserve Subaccount
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0.00
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||||||
xiv.
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Released to Issuer upon Series Retirement: Collection Account
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0.00
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||||||
xv.
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Aggregate Remittances as of Current Payment Date
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63,436,830.91
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||||||
(1) Servicing fee: $748,897,000 x .05% x 180/360 = $187,224.25
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||||||||
(2) Administration fee: $50,000 x 180/180 = $50,000.00
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||||||||
(3) Reimbursement to Administrator for fees/expenses paid to outside legal counsel ($17,508.60) and
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||||||||
independent accountants ($62,000.00).
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5. Subaccount Withdrawals as of Current Payment Date
(if applicable, pursuant to Section 8.02(d) of Indenture):
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||||||||
i.
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Reserve Subaccount (available for 4.i. through 4.xii.)
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7,115,732.11
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||||||
ii.
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Overcollateralization Subaccount (available for 4.i. through 4.ix.)
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0.00
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||||||
iii.
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Capital Subaccount (available for 4.i. through 4.ix.)
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0.00
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||||||
iv.
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Total Withdrawals
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7,115,732.11
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6. Outstanding Amounts and Collection Account Balance as of Current Payment Date
(after giving effect to payments to be made on such Payment Date):
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||||||||
Series 2001-1
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||||||||
i.
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Class A-1 Principal Balance
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0.00
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||||||
ii.
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Class A-2 Principal Balance
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0.00
|
||||||
iii.
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Class A-3 Principal Balance
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0.00
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||||||
iv.
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Class A-4 Principal Balance
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295,814,313.00
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||||||
v.
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Aggregate Principal Balance for all Series 2001-1 Transition Bonds
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295,814,313.00
|
||||||
vi.
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Reserve Subaccount Balance
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4,214,830.93
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||||||
vii.
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Overcollateralization Subaccount Balance
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2,808,363.75
|
||||||
viii.
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Capital Subaccount Balance
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3,744,485.00
|
||||||
ix.
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Aggregate Collection Account Balance
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10,767,679.68
|
||||||
7. Shortfalls In Interest and Principal Payments as of Current Payment Date
(after giving effect to payments to be made on such Payment Date):
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||||||||
i.
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Semiannual Interest
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|||||||
Series 2001-1
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||||||||
1. Class A-1 Bond Interest Payment
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0.00
|
|||||||
2. Class A-2 Bond Interest Payment
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0.00
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|||||||
3. Class A-3 Bond Interest Payment
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0.00
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|||||||
4. Class A-4 Bond Interest Payment
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0.00
|
|||||||
ii.
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Semiannual Principal
|
|||||||
Series 2001-1
|
||||||||
1. Class A-1 Principal Payment
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0.00
|
|||||||
2. Class A-2 Principal Payment
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0.00
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|||||||
3. Class A-3 Principal Payment
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0.00
|
|||||||
4. Class A-4 Principal Payment
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0.00
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|||||||
8. Shortfalls in Required Subaccount Levels as of Current Payment Date
(after giving effect to payments to be made on such Payment Date):
|
||||||||
i.
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Overcollateralization Subaccount
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0.00
|
||||||
ii.
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Capital Subaccount
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0.00
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IN WITNESS HEREOF, the undersigned has duly executed and delivered this
Semiannual Servicer's Certificate this 13th day of September, 2010.
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|||||||||
CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC
(formerly RELIANT ENERGY, INCORPORATED), as Servicer
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|||||||||
by:
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/s/ Xxxxx Xxxxxx |
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|||||||
Xxxxx Xxxxxx
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|||||||||
Assistant Treasurer
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