Schedule 2 to Indenture 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...
EXHIBIT 10.1
Schedule 2 to Indenture
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: September 15, 2003 through March 12, 2004
Payment Date: March 15, 2004
Today's Date: March 12, 2004
1. COLLECTIONS ALLOCABLE AND AGGREGATE AMOUNTS AVAILABLE FOR CURRENT
PAYMENT DATE:
i. Remittances for the September 15 through 30, 2003 Collection Period 3,530,330.51
ii. Remittances for the October 1 through 31, 2003 Collection Period 6,403,474.52
iii. Remittances for the November 1 through 30, 2003 Collection Period 4,666,723.35
iv. Remittances for the December 1 through 31, 2003 Collection Period 5,516,373.16
v. Remittances for the January 1 through 31, 2004 Collection Period 4,652,048.94
vi. Remittances for the February 1 through 29, 2004 Collection Period 4,554,459.44
vii. Remittances for the March 1 through 12, 2004 Collection Period 2,479,541.00
viii. Net Earnings on Collection Account 133,545.66 [9/1/03 through 2/29/04]
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ix. General Subaccount Balance (sum of i through viii above) 31,936,496.58
x. Reserve Subaccount Balance as of Prior Payment Date 9,009,514.27
xi. Overcollateralization Subaccount Balance as of Prior Payment Date 624,080.83
xii. Capital Subaccount Balance as of Prior Payment Date 3,744,485.00
------------
xiii. Collection Account Balance (sum of ix through xii above) 45,314,576.68
=============
2. OUTSTANDING AMOUNTS AS OF PRIOR PAYMENT DATE:
i. Class A-1 Principal Balance 83,171,877.00
ii. Class A-2 Principal Balance 118,000,000.00
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 717,068,877.00
3. REQUIRED FUNDING/PAYMENTS AS OF CURRENT PAYMENT DATE:
Projected
Principal Semiannual
Series 2001-1 Principal Balance Principal Due
----------------------- ------- -------------
i. Class A-1 69,167,503.00 14,004,374.00
ii. Class A-2 118,000,000.00 0.00
iii. Class A-3 130,000,000.00 0.00
iv. Class A-4 385,897,000.00 0.00
-------------- -------------
v. For all Series 2001-1 Transition Bonds 703,064,503.00 14,004,374.00
============== =============
Transition Days in
Bond Interest
Interest Rate Period (1) Interest Due
------------- ---------- ------------
vi. Required Class A-1 Interest 3.840% 180 1,596,900.04
vii. Required Class A-2 Interest 4.760% 180 2,808,400.00
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 780,101.04 156,020.21
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 2,500.00
ii. Servicing Fee 187,224.25(1)
iii. Administration Fee and Independent Managers Fee 53,500.00(2)
iv. Operating Expenses 64,862.00(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 1,596,900.04 13.89
2. Class A-2 Interest Payment 2,808,400.00 23.80
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 14,004,374.00 121.78
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
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 16,720.55
xiii. Deposits 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;
independent managers fee: $3,500.00
(3) Reimbursement to Administrator for fees/expenses paid to
independent accountants ($21,000.00), outside legal
counsel ($19,928.00), printer ($8,934.00) and rating
agencies ($15,000.00)
5. SUBACCOUNT WITHDRAWALS AS OF CURRENT PAYMENT DATE
(IF APPLICABLE, PURSUANT TO SECTION 8.02(E) OF INDENTURE):
i. Reserve Subaccount (available for 4.i. through 4.xii.) 1,171,005.02
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 1,171,005.02
============
6. OUTSTANDING AMOUNT 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 69,167,503.00
ii. Class A-2 Principal Balance 118,000,000.00
iii. Class A-3 Principal Balance 130,000,000.00
iv. Class A-4 Principal Balance 385,897,000.00
--------------
v. Aggregate Principal Balance for all Series 2001-1 Transition Bonds 703,064,503.00
==============
vi. Reserve Subaccount Balance 7,838,509.25
vii. Overcollateralization Subaccount Balance 780,101.04
viii. Capital Subaccount Balance 3,744,485.00
------------
ix. Aggregate Collection Account Balance 12,363,095.29
=============
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 12th day of March, 2004.
CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC
(formerly RELIANT ENERGY, INCORPORATED), as Servicer
by: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇
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▇▇▇▇ ▇▇▇▇▇▇▇▇
Vice President and Treasurer