ex10-1.htm


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 12, 2011 through September 13, 2011


	
Payment Date: September 15, 2011


	
Today's Date: September 13, 2011







 




	
1. Collections Allocable and Aggregate Amounts Available for Current Payment Date:

	  	  	  	  
	  	
i.

	
Remittances for the March 12 through 31, 2011 Collection Period

	
5,235,542.15

	  	  	  	  
	  	
ii.

	
Remittances for the April 1 through 30, 2011 Collection Period

	
7,018,836.03

	  	  	  	  
	  	
iii.

	
Remittances for the May 1 through 31, 2011 Collection Period

	
6,812,358.26

	  	  	  	  
	  	
iv.

	
Remittances for the June 1 through 30, 2011 Collection Period

	
8,991,398.20

	  	  	  	  
	  	
v.

	
Remittances for the July 1 through 31, 2011 Collection Period

	
9,036,377.50

	  	  	  	  
	  	
vi.

	
Remittances for the August 1 through 31, 2011 Collection Period

	
11,076,334.09

	  	  	  	  
	  	
vii.

	
Remittances for the September 1 through 13, 2011 Collection Period

	
5,012,872.63

	  	  	  	  
	  	
viii.

	
Net Earnings on Collection Account

	  	  	  	  	
[through 8/31/11]


	  	  	
   General Subaccount

	  	  	
2,894.93

	  	  	  	  
	  	  	
   Overcollateralization Subaccount

	  	  	
261.39

	  	  	  	  
	  	  	
   Capital Subaccount

	  	  	
331.47

	  	  	  	  
	  	  	
   Reserve Subaccount

	  	  	
1,706.58

	  	  	  	  
	  	
ix.

	
General Subaccount Balance (sum of i through viii above)

	
53,188,913.23

	  	  	  	  
	  	  	  	  	  	  	  	  	  	  
	  	
x.

	
Reserve Subaccount Balance as of Prior Payment Date

	  	
19,989,920.38

	  	  	  	  
	  	
xi.

	
Overcollateralization Subaccount Balance as of Prior Payment Date

	
2,964,383.96

	  	  	  	  
	  	
xii.

	
Capital Subaccount Balance as of Prior Payment Date

	  	
3,744,485.00

	  	  	  	  
	  	
xiii.

	
Collection Account Balance (sum of ix through xii above)

	
79,887,702.57

	  	  	  	  
	  	  	  	  	  	  	  	  	  	  







	
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

	  	  	
0.00

	  	  	  	  
	  	
iv.

	
Class A-4 Principal Balance

	  	  	
265,895,879.00

	  	  	  	  
	  	
v.

	
Aggregate Principal Balance of all Series 2001-1 Transition Bonds

	
265,895,879.00

	  	  	  	  
	  	  	  	  	  	  	  	  	  	  







	
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

	  	
0.00

	  	  
	  	
iii.

	
Class A-3

	  	  	
0.00

	  	
0.00

	  	  
	  	
iv.

	
Class A-4

	  	  	
207,818,916.00

	  	
58,076,963.00

	  	  
	  	
v.

	
For all Series 2001-1 Transition Bonds

	  	  	
207,818,916.00

	  	
58,076,963.00

	  	  
	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	  	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

	  	
0.00


	  	
viii.

	
Required Class A-3 Interest

	  	  	
5.160%

	  	
180

	  	
0.00


	  	
ix.

	
Required Class A-4 Interest

	  	  	
5.630%

	  	
180

	  	
7,484,968.99


	  	  	
(1) On 30/360 Day basis.

	  	  	  	  	  	  	  













 




 





 











 






 




	  	  	  	  	  	  	  	
Funding

	  	  
	  	  	  	  	  	 Required Level	
 

	Required	
 

	  
	  	  	  	  	  	  	  	  	  	  
	  	
x.

	
Overcollateralization Subaccount

	  	  	
3,120,404.17

	  	
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

	  	  	
95,151.80

	
 (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

	  	  	
0.00

	  	
0.00

	  	  
	  	  	
3. Class A-3 Interest Payment

	  	  	
0.00

	  	
0.00

	  	  
	  	  	
4. Class A-4 Interest Payment

	  	  	
7,484,968.99

	  	
19.40

	  	  
	  	  	  	  	  	  	  	  	  	  







	  	
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

	  	  	
0.00

	  	
0.00

	  	  
	  	  	
3. Class A-3 Principal Payment

	  	  	
0.00

	  	
0.00

	  	  
	  	  	
4. Class A-4 Principal Payment

	  	  	
58,076,963.00

	  	
150.50

	  	  
	  	  	  	  	  	  	  	  	  	  
	  	
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

	
156,020.21

	  	  	  	  
	  	
xii.

	
Net Earnings in Capital Subaccount Released to Issuer

	
331.47

	  	  	  	  
	  	
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

	
66,050,659.72

	  	  	  	  
	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	  	  	  	  
	  	  	
(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 rating agencies ($10,000.00),


	  	  	
       outside legal counsel ($8,613.80) and independent accountants ($76,538.00).

	  













 




 





 











 






 




	
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.)

	
12,861,746.49

	  	  	  	  
	  	
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

	  	  	
12,861,746.49

	  	  	  	  
	  	  	  	  	  	  	  	  	  	  







	
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

	  	  	
207,818,916.00

	  	  	  	  
	  	
v.

	
Aggregate Principal Balance for all Series 2001-1 Transition Bonds

	
207,818,916.00

	  	  	  	  
	  	  	  	  	  	  	  	  	  	  
	  	
vi.

	
Reserve Subaccount Balance

	  	  	
7,128,173.89

	  	  	  	  
	  	
vii.

	
Overcollateralization Subaccount Balance

	  	
3,120,404.17

	  	  	  	  
	  	
viii.

	
Capital Subaccount Balance

	  	  	
3,744,485.00

	  	  	  	  
	  	
ix.

	
Aggregate Collection Account Balance

	  	  	
13,993,063.06

	  	  	  	  
	  	  	  	  	  	  	  	  	  	  







	
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 13th day of September, 2011.

	  	  	  	  
	  	  	  	  	  	  	  	  	  	  
	  	
CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC

	  	  	  	  	  
	  	
(formerly RELIANT ENERGY, INCORPORATED), as Servicer

	  	  	  	  
	  	  	  	  	  	  	  	  	  	  
	  	
by:

	
/s/ Marc Kilbride

	  	  	  	  	  	  	  
	  	  	
Marc Kilbride

	  	  	  	  	  	  	  
	  	  	
Vice President and Treasurer