SEC Contract Filing

Filing Date: 2023-06-23

Document Content:
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<TYPE>EX-10.3
<SEQUENCE>7
<FILENAME>d485953dex103.htm
<DESCRIPTION>EX-10.3
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<TITLE>EX-10.3</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.3 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ADMINISTRATION AGREEMENT </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">ADMINISTRATION AGREEMENT, dated as of June&nbsp;29, 2023 (this &#147;Administration Agreement&#148;), is by and between SIGECO Securitization
I, LLC, a Delaware limited liability company, as Issuer (the &#147;Issuer&#148;), and Southern Indiana Gas and Electric Company d/b/a CenterPoint Energy Indiana South, an Indiana corporation (&#147;CEI South&#148;), as Administrator (in such
capacity, the &#147;Administrator&#148;). Capitalized terms used and not otherwise defined herein shall have the meanings assigned to such terms in Appendix A to the Indenture (as defined below). Not all terms defined in Appendix A are used in this
Administration Agreement. The rules of construction set forth in Appendix A shall apply to this Administration Agreement and are hereby incorporated by reference into this Administration Agreement as if set forth in this Administration Agreement.
</P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">W I T N E S S E T H: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Issuer is issuing Securitization Bonds pursuant to the Indenture, dated as of the date hereof and the Series Supplement thereto,
also dated as of the date hereof (the &#147;Series Supplement&#148;) (as amended, supplemented or otherwise modified and in effect from time to time, the &#147;Indenture&#148;), between the Issuer and U.S. Bank Trust Company, National Association,
as the Trustee (the &#147;Trustee&#148;), and U.S. Bank National Association, as the Securities Intermediary; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Issuer has
entered into certain agreements in connection with the issuance of the Securitization Bonds, including (i)&nbsp;the Indenture and the Series Supplement, (ii)&nbsp;the Securitization Property Servicing Agreement, dated as of the date hereof (the
&#147;Servicing Agreement&#148;), between the Issuer and CEI South, as Servicer, (iii)&nbsp;the Securitization Property Purchase and Sale Agreement, dated as of the date hereof (the &#147;Sale Agreement&#148;), between the Issuer and CEI South, as
Seller, and (iv)&nbsp;the Letter of Representations, dated as of June&nbsp;12, 2023 (the &#147;Depository Agreement&#148;), between the Issuer and The Depository Trust Company relating to the Securitization Bonds (the Indenture, the Series
Supplement, the Servicing Agreement, the Sale Agreement and the Depository Agreement, as such agreements may be amended and supplemented from time to time, being referred to hereinafter collectively as the &#147;Initial Related Agreements&#148;);
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, pursuant to the Initial Related Agreements, the Issuer is required to perform certain duties in connection with the Initial
Related Agreements, the Securitization Bonds and the Trust Estate pledged to the Trustee pursuant to the Indenture; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Issuer
may from time to time enter into and be required to perform certain duties under additional agreements similar to the Initial Related Agreements (together with the Initial Related Agreements, the &#147;Related Agreements&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Issuer has no employees, other than its officers, and does not intend to hire any employees, and consequently desires to have the
Administrator perform certain of the duties of the Issuer referred to in the preceding clauses and to provide such additional services consistent with the terms of this Administration Agreement and the Related Agreements as the Issuer may from time
to time request; and </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Administrator has the capacity to provide the services and the facilities
required thereby and is willing to perform such services and provide such facilities for the Issuer on the terms set forth herein; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW,
THEREFORE, in consideration of the mutual covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>Duties of the Administrator: Management Services</I>. The Administrator hereby agrees to provide the
following corporate managem