Semiannual Servicer's Certificate

EX-10.1 2 h51164exv10w1.htm SEMIANNUAL SERVICER'S CERTIFICATE exv10w1
 

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 15, 2007 through September 14, 2007
Payment Date: September 17, 2007
Today’s Date: September 14, 2007
1. Collections Allocable and Aggregate Amounts Available for Current Payment Date:
                                 
    i.  
Remittances for the March 15 through 31, 2007 Collection Period
     3,982,663.75                  
    ii.  
Remittances for the April 1 through 30, 2007 Collection Period
     6,348,811.35                  
    iii.  
Remittances for the May 1 through 31, 2007 Collection Period
     6,413,792.50                  
    iv.  
Remittances for the June 1 through 30, 2007 Collection Period
     7,018,890.19                  
    v.  
Remittances for the July 1 through 31, 2007 Collection Period
     7,572,167.18                  
    vi.  
Remittances for the August 1 through 31, 2007 Collection Period
     9,091,742.01                  
    vii.  
Remittances for the September 1 through 14, 2007 Collection Period
     4,638,319.67                  
    viii.  
Net Earnings on Collection Account
     940,122.53     [3/1/07 through 8/31/07]          
       
 
                        
    ix.  
General Subaccount Balance (sum of i through viii above)
     46,006,509.18                  
 
    x.  
Reserve Subaccount Balance as of Prior Payment Date
     10,078,813.13                  
    xi.  
Overcollateralization Subaccount Balance as of Prior Payment Date
     1,716,222.29                  
    xii.  
Capital Subaccount Balance as of Prior Payment Date
     3,744,485.00                  
       
 
                        
    xiii.  
Collection Account Balance (sum of ix through xii above)
     61,546,029.60                  
       
 
                        
 
2. Outstanding Amounts as of Prior Payment Date:
                                 
    i.  
Class A-1 Principal Balance
     0.00                  
    ii.  
Class A-2 Principal Balance
     38,511,447.00                  
    iii.  
Class A-3 Principal Balance
     130,000,000.00                  
    iv.  
Class A-4 Principal Balance
     385,897,000.00                  
       
 
                        
    v.  
Aggregate Principal Balance of all Series 2001-1 Transition Bonds
     554,408,447.00                  
       
 
                        
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       38,511,447.00          
    iii.  
Class A-3
     128,969,686.00       1,030,314.00          
    iv.  
Class A-4
     385,897,000.00       0.00          
       
 
                        
    v.  
For all Series 2001-1 Transition Bonds
     514,866,686.00       39,541,761.00          
       
 
                        
                                 
            Transition   Days in        
            Bond   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       916,572.44  
    viii.  
Required Class A-3 Interest
     5.160 %     180       3,354,000.00  
    ix.  
Required Class A-4 Interest
     5.630 %     180       10,863,000.55  
 
(1) On 30/360 Day basis.

 

 

                                 
                  Funding          
            Required Level     Required          
    x.  
Overcollateralization Subaccount
     1,872,242.50       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
     0.00                  
    ii.  
Servicing Fee
     187,224.25 (1)                
    iii.  
Administration Fee and Independent Managers Fee
     50,000.00 (2)                
    iv.  
Operating Expenses
     23,484.00 (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
     916,572.44       7.77          
       
3. Class A-3 Interest Payment
     3,354,000.00       25.80          
       
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
                        
                                 
              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
     38,511,447.00       326.37          
       
3. Class A-3 Principal Payment
     1,030,314.00       7.93          
       
4. Class A-4 Principal Payment
     0.00       0.00          
                                 
    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 (to required level)
     0.00                  
    xi.  
Funding of Overcollateralization Subaccount (to required level)
     156,020.21                  
    xii.  
Net Earnings in Capital Subaccount Released to Issuer
     98,470.36                  
    xiii.  
Deposit to Reserve Subaccount
     0.00                  
    xiv.  
Released to Issuer upon Series Retirement: Collection Account
     0.00                  
 
(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 ($19,999.00) and printer ($3,485.00).

 

 

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.)
     9,184,023.63                  
    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
     9,184,023.63                  
       
 
                        
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
     128,969,686.00                  
    iv.  
Class A-4 Principal Balance
     385,897,000.00                  
       
 
                        
    v.  
Aggregate Principal Balance for all Series 2001-1 Transition Bonds
     514,866,686.00                  
       
 
                        
 
    vi.  
Reserve Subaccount Balance
     894,789.50                  
    vii.  
Overcollateralization Subaccount Balance
     1,872,242.50                  
    viii.  
Capital Subaccount Balance
     3,744,485.00                  
       
 
                        
    ix.  
Aggregate Collection Account Balance
     6,511,517.00                  
       
 
                        
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 14th day of September, 2007.
         
    CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC
(formerly RELIANT ENERGY, INCORPORATED), as Servicer

by:
  /s/ Marc Kilbride    
 
       
 
  Marc Kilbride    
 
  Vice President and Treasurer