Contract
Exhibit
10.1
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: March 13, 2009 through September 11,
2009
|
Payment
Date: September 15, 2009
|
Today's
Date: September 11, 2009
|
1.
Collections Allocable and Aggregate Amounts Available for Current Payment
Date:
|
||||||||
i.
|
Remittances
for the March 13 through 31, 2009 Collection Period
|
3,800,366.20
|
||||||
ii.
|
Remittances
for the April 1 through 30, 2009 Collection Period
|
6,854,760.08
|
||||||
iii.
|
Remittances
for the May 1 through 31, 2009 Collection Period
|
6,433,887.93
|
||||||
iv.
|
Remittances
for the June 1 through 30, 2009 Collection Period
|
7,489,827.73
|
||||||
v.
|
Remittances
for the July 1 through 31, 2009 Collection Period
|
9,533,150.21
|
||||||
vi.
|
Remittances
for the August 1 through 31, 2009 Collection Period
|
9,349,755.48
|
||||||
vii.
|
Remittances
for the September 1 through 11, 2009 Collection Period
|
4,677,347.52
|
||||||
viii.
|
Net
Earnings on Collection Account
|
[through 8/31/09] | ||||||
General
Subaccount
|
31,433.73
|
|||||||
Overcollateralization
Subaccount
|
3,691.84
|
|||||||
Capital
Subaccount
|
5,969.01
|
|||||||
Reserve
Subaccount
|
15,968.83
|
|||||||
ix.
|
General
Subaccount Balance (sum of i through viii above)
|
48,196,158.56
|
x.
|
Reserve
Subaccount Balance as of Prior Payment Date
|
11,361,970.06
|
||||||
xi.
|
Overcollateralization
Subaccount Balance as of Prior Payment Date
|
2,340,303.13
|
||||||
xii.
|
Capital
Subaccount Balance as of Prior Payment Date
|
3,744,485.00
|
||||||
xiii.
|
Collection
Account Balance (sum of ix through xii above)
|
65,642,916.75
|
||||||
|
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
|
38,615,263.00
|
||||||
iv.
|
Class
A-4 Principal Balance
|
385,897,000.00
|
||||||
v.
|
Aggregate
Principal Balance of all Series 2001-1 Transition Bonds
|
424,512,263.00
|
3.
Required Funding/Payments as of Current Payment Date:
|
||||||||
Series 2001-1 Principal
|
Projected
Principal
Balance
|
Semiannual
Principal
Due
|
||||||
i.
|
Class
A-1
|
0.00
|
0.00
|
|||||
ii.
|
Class
A-2
|
0.00
|
0.00
|
|||||
iii.
|
Class
A-3
|
0.00
|
38,615,263.00
|
|||||
iv.
|
Class
A-4
|
376,320,741.00
|
9,576,259.00
|
|||||
v.
|
For
all Series 2001-1 Transition Bonds
|
376,320,741.00
|
48,191,522.00
|
Transition
Bond
Interest Rate
|
Days in
Interest
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
|
996,273.79
|
||||
ix.
|
Required
Class A-4 Interest
|
5.630%
|
180
|
10,863,000.55
|
||||
(1)
On 30/360 Day basis.
|
Required Level
|
|
Funding
Required
|
||||||
x.
|
Overcollateralization
Subaccount
|
2,496,323.33
|
156,020.20
|
|||||
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
|
0.00
|
||||||
ii.
|
Servicing
Fee
|
187,224.25
|
(1)
|
|||||
iii.
|
Administration
Fee and Independent Managers Fee
|
50,000.00
|
(2)
|
|||||
iv.
|
Operating
Expenses
|
40,969.17
|
(3)
|
|||||
v.
|
Semiannual
Interest (including any past-due Semiannual Interest for prior
periods)
|
Series 2001-1
|
Aggregate
|
Per
1,000
of
Original
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
|
996,273.79
|
7.66
|
||||||
4.
Class A-4 Interest Payment
|
10,863,000.55
|
28.15
|
vi.
|
Principal
Due and Payable as a result of Event of Default or on Final Maturity
Date
|
|||||||
Series 2001-1
|
Aggregate
|
Per
1,000
of
Original
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
|
|||||||
Series 2001-1
|
Aggregate
|
Per
1,000
of
Original
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
|
38,615,263.00
|
297.04
|
||||||
4.
Class A-4 Principal Payment
|
9,576,259.00
|
24.82
|
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
|
0.00
|
||||||
xii.
|
Net
Earnings in Capital Subaccount Released to Issuer
|
0.00
|
||||||
xiii.
|
Deposit
to Reserve Subaccount
|
0.00
|
||||||
xiv.
|
Released
to Issuer upon Series Retirement: Collection Account
|
0.00
|
||||||
xv.
|
Aggregate
Remittances as of Current Payment Date
|
60,328,989.76
|
||||||
(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
|
||||||||
(3)
Reimbursement to Administrator for fees/expenses paid to outside legal
counsel ($26,336.17) and
|
||||||||
independent
accountants ($14,633.00).
|
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.)
|
11,361,970.06
|
||||||
ii.
|
Overcollateralization
Subaccount (available for 4.i. through 4.ix.)
|
770,861.14
|
||||||
iii.
|
Capital
Subaccount (available for 4.i. through 4.ix.)
|
0.00
|
||||||
iv.
|
Total
Withdrawals
|
12,132,831.20
|
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
|
376,320,741.00
|
||||||
v.
|
Aggregate
Principal Balance for all Series 2001-1 Transition Bonds
|
376,320,741.00
|
||||||
vi.
|
Reserve
Subaccount Balance
|
0.00
|
||||||
vii.
|
Overcollateralization
Subaccount Balance
|
1,569,441.99
|
||||||
viii.
|
Capital
Subaccount Balance
|
3,744,485.00
|
||||||
ix.
|
Aggregate
Collection Account Balance
|
5,313,926.99
|
||||||
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
|
926,881.34
|
||||||
ii.
|
Capital
Subaccount
|
0.00
|
IN
WITNESS HEREOF, the undersigned has duly executed and delivered this
Semiannual Servicer's Certificate this 11th day of September,
2009.
|
|||||||||
CENTERPOINT
ENERGY HOUSTON ELECTRIC, LLC (formerly RELIANT
ENERGY, INCORPORATED), as Servicer
|
|||||||||
by:
|
/s/ Xxxxx Xxxxxx |
|
|||||||
Xxxxx
Xxxxxx
|
|||||||||
Assistant
Treasurer
|