SEC Contract Filing

Filing Date: 2019-09-18

Document Content:
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<TYPE>EX-10.5
<SEQUENCE>7
<FILENAME>nt10002760x13_ex10-5.htm
<DESCRIPTION>EXHIBIT 10.5
<TEXT>
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 <hr style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">Exhibit 10.5</div>
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 <div style="text-align: center;"><u>SERIES SUPPLEMENT</u></div>
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 <div style="text-indent: 72pt;">This SERIES SUPPLEMENT dated as of September 18, 2019 (this &#8220;<u>Supplement</u>&#8221;), by and between AEP TEXAS RESTORATION FUNDING LLC, a limited liability company created under the laws of the State of Delaware (the &#8220;<u>Issuer</u>&#8221;),

 and U.S. Bank National Association, a national banking association&#160; (&#8220;<u>BANK</u>&#8221;), in its capacity as indenture trustee (the &#8220;<u>Indenture Trustee</u>&#8221;) for the benefit of the Secured Parties under the Indenture dated as of September 18, 2019, by
 and between the Issuer and BANK, in its capacity as Indenture Trustee and in its separate capacity as a securities intermediary (the &#8220;<u>Indenture</u>&#8221;).</div>
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 <div style="text-align: center;">PRELIMINARY STATEMENT</div>
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 <div style="text-indent: 72pt;"><u>Section 9.01</u> of the Indenture provides, among other things, that the Issuer and the Indenture Trustee may at any time enter into an indenture supplemental to the Indenture for the purposes of authorizing the
 issuance by the Issuer of the System Restoration Bonds and specifying the terms thereof.&#160; The Issuer has duly authorized the creation of the System Restoration Bonds with an initial aggregate principal amount of $235,282,000 to be known as AEP Texas
 Restoration Funding LLC System Restoration Bonds (the &#8220;<u>System Restoration Bonds</u>&#8221;), and the Issuer and the Indenture Trustee are executing and delivering this Supplement in order to provide for the System Restoration Bonds.</div>
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 <div style="text-indent: 72pt;">All terms used in this Supplement that are defined in the Indenture, either directly or by reference therein, have the meanings assigned to them therein, except to the extent such terms are defined or modified in this
 Supplement or the context clearly requires otherwise.&#160; In the event that any term or provision contained herein shall conflict with or be inconsistent with any term or provision contained in the Indenture, the terms and provisions of this Supplement
 shall govern.</div>
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 <div style="text-align: center;">GRANTING CLAUSE</div>
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 <div style="text-indent: 72pt;">With respect to the System Restoration Bonds, the Issuer hereby Grants to the Indenture Trustee, as Indenture Trustee for the benefit of the Secured Parties of the System Restoration Bonds, all of the Issuer&#8217;s right,
 title and interest (whether now owned or hereafter acquired or arising) in and to (a) the Transition Property created under and pursuant to the Financing Order, and transferred by the Seller to the Issuer pursuant to the Sale Agreement (including, to
 the fullest extent permitted by law, the right to impose, collect and receive System Restoration Charges, all revenues, collections, claims, rights, payments, money or proceeds of or arising from the System Restoration Charges authorized in the
 Financing Order and any Tariffs filed pursuant thereto and any contractual rights to collect such System Restoration Charges from Customers and REPs), (b) all System Restoration Charges related to the Transition Property, (c) the Sale Agreement and
 the Bill of Sale executed in connection therewith and all property and interests in property transferred under the Sale Agreement and the Bill of Sale with respect to the Transition Property and the System Restoration Bonds, (d) the Servicing
 Agreement, the Intercreditor Agreement, the Administration Agreement and any subservicing, agency, intercreditor, administration or collection agreements executed in connection therewith, to the extent related to the foregoing Transition Property and
 the System Restoration Bonds, (e) the Collection Account, all subaccounts thereof and all amounts of cash, instruments, investment property or other assets on deposit therein or credited thereto from time to time and all Financial Assets and
 securities entitlements carried therein or credited thereto, (f) all rights to compel the Servicer to file for and obtain adjustments to the System Restoration Charges in accordance with Section 39.307 (as incorporated through Section 36.403(a)) of
 the Securitization Law, the Financing Order or any Tariff filed in connection therewith, (g) all deposits, guarantees, surety bonds, letters of credit and other forms of credit support provided by or on behalf of REPs pursuant to such Financing Order
 or Tariff, including investment earnings thereon and all amounts on deposit in the REP Deposit Accounts; (h) all present and future claims, demands, causes and choses in action in respect of any or all of the foregoing, whether such claims, demands,
 causes and choses in action constitute Transition Property, accounts, general intangibles, instruments, contract rights, chattel paper or proceeds of such items or any other form of property, (i) all accounts, chattel paper, deposit accounts,
 documents, general intangibles, goods, instruments, investment property, letters of credit, letters-of-credit rights, money, commercial tort claims and supporting obligations related to the foregoing, (j) all payments