Document:

exv10w5

 

Exhibit 10.5

Schedule 2 to Indenture

Semiannual Servicer’s Certificate

CenterPoint Energy Transition Bond Company II, LLC

$1,851,000,000 Series A Transition Bonds

Pursuant to Section 6 of Annex 1 to the Transition Property Servicing Agreement (the “Agreement”),

dated as of December 16, 2005, between CenterPoint Energy Houston Electric, LLC, as Servicer, and

CenterPoint Energy Transition Bond Company II, 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: August 1, 2006 through January 31, 2007

Payment Date: February 1, 2007

Today’s Date: January 31, 2007

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

	 	 	 	 	 	 	 	 	 
	i.
	 	Remittances for the August 1 through 31, 2006 Collection Period	 	 	19,328,665.86	 	 	 
	ii.
	 	Remittances for the September 1 through 30, 2006 Collection Period	 	 	18,528,034.18	 	 	 
	iii.
	 	Remittances for the October 1 through 31, 2006 Collection Period	 	 	18,117,960.75	 	 	 
	iv.
	 	Remittances for the November 1 through 30, 2006 Collection Period	 	 	17,263,035.90	 	 	 
	v.
	 	Remittances for the December 1 through 31, 2006 Collection Period	 	 	13,646,439.87	 	 	 
	vi.
	 	Remittances for the January 1 through 31, 2007 Collection Period	 	 	13,524,861.42	 	 	 
	vii.
	 	Net Earnings on Collection Account	 	 	1,607,663.07	 	 	[7/1/06 through 12/31/06]
	 
	 	 	 	 	 	 	 	 
	viii.
	 	General Subaccount Balance (sum of i through vii above)	 	 	102,016,661.05	 	 	 
	 
	 	 	 	 	 	 	 	 
	ix.
	 	Excess Funds Subaccount Balance as of Prior Payment Date	 	 	1,883,170.01	 	 	 
	x
	 	Capital Subaccount Balance as of Prior Payment Date	 	 	9,255,000.00	 	 	 
	 
	 	 	 	 	 	 	 	 
	xi.
	 	Collection Account Balance (sum of viii through x above)	 	 	113,154,831.06	 	 	 
	 
	 	 	 	 	 	 	 	 

2. Outstanding Amounts as of Prior Payment Date:

	 	 	 	 	 	 	 
	i.
	 	Tranche A-1 Principal Balance	 	 	231,435,317.00	 
	ii.
	 	Tranche A-2 Principal Balance	 	 	368,000,000.00	 
	iii.
	 	Tranche A-3 Principal Balance	 	 	252,000,000.00	 
	iv.
	 	Tranche A-4 Principal Balance	 	 	519,000,000.00	 
	v.
	 	Tranche A-5 Principal Balance	 	 	462,000,000.00	 
	 
	 	 	 	 	 	 
	vi.
	 	Aggregate Principal Balance of all Series A Transition Bonds	 	 	1,832,435,317.00	 
	 
	 	 	 	 	 	 

3. Required Funding/Payments as of Current Payment Date:

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Projected	 	 
	 	 	 	 	Principal	 	Semiannual
	 	 	Series A Principal	 	Balance	 	Principal Due
	i.
	 	Tranche A-1	 	 	179,908,675.00	 	 	 	51,526,642.00	 
	ii.
	 	Tranche A-2	 	 	368,000,000.00	 	 	 	0.00	 
	iii.
	 	Tranche A-3	 	 	252,000,000.00	 	 	 	0.00	 
	iv.
	 	Tranche A-4	 	 	519,000,000.00	 	 	 	0.00	 
	v.
	 	Tranche A-5	 	 	462,000,000.00	 	 	 	0.00	 
	 
	 	 	 	 	 	 	 	 	 	 
	vi.
	 	For all Series A Transition Bonds	 	 	1,780,908,675.00	 	 	 	51,526,642.00	 
	 
	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Transition	 	Days in	 	 
	 	 	 	 	Bond	 	Interest	 	 
	 	 	 	 	Interest Rate	 	Period (1)	 	Interest Due
	vii.
	 	Required Tranche A-1 Interest	 	 	4.840	%	 	180	 	 	5,600,734.67	 
	viii.
	 	Required Tranche A-2 Interest	 	 	4.970	%	 	180	 	 	9,144,800.00	 
	ix.
	 	Required Tranche A-3 Interest	 	 	5.090	%	 	180	 	 	6,413,400.00	 
	x.
	 	Required Tranche A-4 Interest	 	 	5.170	%	 	180	 	 	13,416,150.00	 
	xi.
	 	Required Tranche A-5 Interest	 	 	5.302	%	 	180	 	 	12,247,620.00	 

 

			
	(1)	 	On 30/360 Day basis.

 

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Funding
	 	 	Required Level	 	Required
	xii.     Capital Subaccount
	 	 	9,255,000.00	 	 	 	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
	 	 	462,750.00      	(1)
	iii.     Administration Fee and Independent Managers Fee
	 	 	52,500.00      	(2)
	iv.     Operating Expenses
	 	 	76,596.42      	(3)
	v.     Semiannual Interest (including any past-due Semiannual Interest for prior periods)
	 	 	 	 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Per $1,000
	 	 	 	 	 	 	of Original
	Series A	 	Aggregate	 	Principal Amount
	1. Tranche A-1 Interest Payment
	 	 	5,600,734.67	 	 	 	22.40	 
	2. Tranche A-2 Interest Payment
	 	 	9,144,800.00	 	 	 	24.85	 
	3. Tranche A-3 Interest Payment
	 	 	6,413,400.00	 	 	 	25.45	 
	4. Tranche A-4 Interest Payment
	 	 	13,416,150.00	 	 	 	25.85	 
	5. Tranche A-5 Interest Payment
	 	 	12,247,620.00	 	 	 	26.51	 

     vi.     Principal Due and Payable as a result of Event of Default or on Final Maturity Date

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Per $1,000
	 	 	 	 	 	 	of Original
	Series A	 	Aggregate	 	Principal Amount
	1. Tranche A-1 Principal Payment
	 	 	0.00	 	 	 	0.00	 
	2. Tranche A-2 Principal Payment
	 	 	0.00	 	 	 	0.00	 
	3. Tranche A-3 Principal Payment
	 	 	0.00	 	 	 	0.00	 
	4. Tranche A-4 Principal Payment
	 	 	0.00	 	 	 	0.00	 
	5. Tranche A-5 Principal Payment
	 	 	0.00	 	 	 	0.00	 

     vii.     Semiannual Principal

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Per $1,000
	 	 	 	 	 	 	of Original
	Series A	 	Aggregate	 	Principal Amount
	1. Tranche A-1 Principal Payment
	 	 	51,526,642.00	 	 	 	206.11	 
	2. Tranche A-2 Principal Payment
	 	 	0.00	 	 	 	0.00	 
	3. Tranche A-3 Principal Payment
	 	 	0.00	 	 	 	0.00	 
	4. Tranche A-4 Principal Payment
	 	 	0.00	 	 	 	0.00	 
	5. Tranche A-5 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.
	 	Net Earnings in Capital Subaccount Released to Issuer	 	 	244,969.08	 
	xii.
	 	Deposit to Excess Funds Subaccount	 	 	2,830,498.88	 
	xiii.
	 	Released to Issuer upon Series Retirement: Collection Account	 	 	0.00	 

 

			
	(1)	 	Servicing fee: $1,851,000,000 x .05% x 180/360 = $462,750.00
	 
	(2)	 	Administration fee: $100,000 x 180/360 = $50,000.00; Independent Managers fee: $2,500.00
	 
	(3)	 	Reimbursement to Administrator for fees/expenses paid to independent accountant ($28,000.00),
printer ($10,449.00), rating agencies ($7,500.00), outside legal counsel ($20,612.50) and L/C
issuing bank ($10,034.92)

 

 

5. Subaccount Withdrawals as of Current Payment Date (if applicable, pursuant to Section 8.02(d) of Indenture):

	 	 	 	 	 	 	 
	i.
	 	Excess Funds Subaccount (available for 4.i. through 4.xi.)	 	 	0.00	 
	ii.
	 	Capital Subaccount (available for 4.i. through 4.ix.)	 	 	0.00	 
	 
	 	 	 	 	 	 
	iii.
	 	Total Withdrawals	 	 	0.00	 
	 
	 	 	 	 	 	 

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 A	 	 	 	 
	i.
	 	Tranche A-1 Principal Balance	 	 	179,908,675.00	 
	ii.
	 	Tranche A-2 Principal Balance	 	 	368,000,000.00	 
	iii.
	 	Tranche A-3 Principal Balance	 	 	252,000,000.00	 
	iv.
	 	Tranche A-4 Principal Balance	 	 	519,000,000.00	 
	v.
	 	Tranche A-5 Principal Balance	 	 	462,000,000.00	 
	 
	 	 	 	 	 	 
	vi.
	 	Aggregate Principal Balance for all Series A Transition Bonds	 	 	1,780,908,675.00	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	vii.
	 	Excess Funds Subaccount Balance	 	 	4,713,668.89	 
	viii.
	 	Capital Subaccount Balance	 	 	9,255,000.00	 
	 
	 	 	 	 	 	 
	ix.
	 	Aggregate Collection Account Balance	 	 	13,968,668.89	 
	 
	 	 	 	 	 	 

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 A	 	 	 	 
	1. Tranche A-1 Bond Interest Payment
	 	 	0.00	 
	2. Tranche A-2 Bond Interest Payment
	 	 	0.00	 
	3. Tranche A-3 Bond Interest Payment
	 	 	0.00	 
	4. Tranche A-4 Bond Interest Payment
	 	 	0.00	 
	5. Tranche A-5 Bond Interest Payment
	 	 	0.00	 

     ii.     Semiannual Principal

	 	 	 	 	 
	Series A	 	 	 	 
	1. Tranche A-1 Principal Payment
	 	 	0.00	 
	2. Tranche A-2 Principal Payment
	 	 	0.00	 
	3. Tranche A-3 Principal Payment
	 	 	0.00	 
	4. Tranche A-4 Principal Payment
	 	 	0.00	 
	5. Tranche A-5 Principal Payment
	 	 	0.00	 

8. Shortfall in Required Subaccount Level as of Current Payment Date (after giving effect to payments to be made on such Payment Date):

	 	 	 	 	 	 	 
	i.
	 	Capital Subaccount	 	 	0.00	 

IN WITNESS HEREOF, the undersigned has duly executed and delivered this
Semiannual Servicer’s Certificate this 31st day of January, 2007.

CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC, as Servicer

	 	 	 	 	 
	by:

	 	/s/ Marc Kilbride
 

Marc Kilbride
	 	 
	 

	 	Vice President and Treasurerexv10w1

 

Exhibit 10.1

AMENDMENT TO

PROMISSORY NOTE

          This Amendment to Promissory Note (the “Amendment”) is entered into as of March 23, 2007
by and between [HOLDER] (“Holder”) and Global Telecom & Technology, Inc. (formerly Mercator
Partners Acquisition Corp.), a Delaware corporation (the “Company”).

          WHEREAS, the Company issued to Payee a Promissory Note dated October 15, 2006 in the principal
amount of $[AMOUNT] (the “Note”), which Note was part of a series of Promissory Notes
(collectively, the “Notes”) each due on June 30, 2007 issued to the Holder and other holders of
shares of Global Internetworking, Inc. (“GII”) and European Telecommunications & Technology Limited
(“ETT”) in connection with the deferral of certain payments of cash against the Company’s purchases
of their shares of GII or ETT; and

          WHEREAS, the Company and Holder desire to extend the maturity date of the Note and modify
other terms of the Note in connection with such extension;

          NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration,
the receipt of which is hereby acknowledged, the Company and Holder agree as follows:

	 	1.	 	The “Maturity Date” shall be defined for all purposes in the Note as April 30, 2008.
	 
	 	2.	 	Section 1(a) of the Note shall be deleted in its entirety and replaced with the following:
	 
	 	 	 	Interest on the outstanding principal balance of, and all other sums owing under
this Note, which are not past due, shall accrue and be payable at a rate which is
equal to the following during the applicable stated period (each being the “Note
Rate”):

	 	 	 	 	 
	 

	 	October 15, 2006 – March 31, 2007
	 	Six Percent (6%) per annum
	 

	 	April 1, 2007 – June 30, 2007
	 	Eight Percent (8%) per annum
	 

	 	July 1, 2007 – October 31, 2007
	 	Ten Percent (10%) per annum
	 

	 	November 1, 2007 – December 31, 2007
	 	Twelve Percent (12%) per annum
	 

	 	January 1, 2008 – March 31, 2008
	 	Fourteen Percent (14%) per annum
	 

	 	April 1, 2008 and thereafter
	 	Sixteen Percent (16%) per annum

	 	 	 	Interest shall be computed for the actual number of days which have elapsed, on the basis of a 365-day year.

	 	3.	 	Section 1(b) of the Note shall be deleted in its entirety and replaced with the following:
	 
	 	 	 	To the fullest extent permitted by applicable law, if the Note is not repaid by the
Company by the Maturity Date, a premium of two percent (2%) interest (per annum)
(the “Past Due Rate”) will be applied in addition to the Note Rate. The Past Due
Rate shall apply in such event retroactively to January 1, 2008, and shall continue
to apply following the Maturity Date until such time as all sums not paid when due
and payable under this Note are paid in full.
	 
	 	4.	 	Section 2 of the Note shall be amended to add the following two sentences at the
end of the Section:
	 
	 	 	 	No prepayment shall be made against any of the Notes unless a prepayment is made
against all of the Notes such that the amount prepaid against each Note shall bear
the same ratio to the amount then due under such Note as the total prepayments
against all of the Notes bears to the amounts then due under all of the Notes.
Furthermore, no prepayment shall be made against any of those promissory notes
issued by the Company on October 15, 2006 and due on December 29, 2008 until such
time as this Note is paid in full.
	 
	 	5.	 	This Amendment is an instrument executed under seal and is to be considered
effective and enforceable as of the date set forth on the first page hereof, independent
of the date of actual execution and delivery. Except as amended by this Amendment, the
Note shall remain in full force and effect, enforceable in accordance with its terms.

[SIGNATURE PAGE FOLLOWS]

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	ATTEST:

	 	 	 	COMPANY:	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Global Telecom & Technology, Inc.
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	 	 	(Seal)	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	Name:
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	ATTEST:

	 	 	 	HOLDER:	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	[HOLDER]	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	 	 	(Seal)	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	Name:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}]]