EX-99.1 CHARTER 2 ex991tcc.htm SEMI-ANNUAL SERVICER'S CERTIFICATE ex991tcc.htm

           
Exhibit 99.1
                   
Semi-Annual Servicer’s Certificate
AEP Texas Central Company, as Servicer
AEP Texas Central Transition Funding II LLC
                   
Pursuant to Section 4.01(c)(ii) of the Transition Property Servicing Agreement dated as of October 11, 2006
(the "Agreement") between AEP Texas Central Company, as Servicer and AEP Texas Central Transition Funding II LLC,
as Note Issuer, the Servicer does hereby certify as follows:
                   
Capitalized terms used herein have their respective meanings as set forth in the Agreement.
References herein to certain sections and subsections are references to the respective sections of the Agreement.
                   
   
Collection Periods:
Oct-2006
to
Jun-2007
      
   
Payment Date:
07/02/2007
      
                   
1.
Collections Allocable and Aggregate Amounts Available for the Current Payment Date:
                   
 
i.
Remittances for the 10/06 Collection Period
   $
0.00
 
ii.
Remittances for the 11/06 Collection Period
    
6,463,961.98
 
iii.
Remittances for the 12/06 Collection Period
    
10,428,535.90
 
iv.
Remittances for the 01/07 Collection Period
    
12,098,050.34
 
v.
Remittances for the 02/07 Collection Period
    
11,559,988.70
 
vi.
Remittances for the 03/07 Collection Period
    
13,671,356.02
 
vii.
Remittances for the 04/07 Collection Period
    
12,148,286.83
 
viii.
Remittances for the 05/07 Collection Period
    
12,544,878.92
 
ix.
Remittances for the 06/07 Collection Period
    
12,969,172.75
 
x.
Investment Earnings on Collection Account
      
   
xi.
Investment Earnings on Capital Subaccount
    
295,048.99
   
xii.
Investment Earnings on Reserve Subaccount
    
0.00
   
xiii.
Investment Earnings on General Subaccount
    
1,119,496.99
 
xiv.
General Subaccount Balance (sum of  i through xiii above)
 $
93,298,777.42
                   
 
xv.
Reserve Subaccount Balance as of Prior Payment Date
    
0.00
 
xvi.
Capital Subaccount Balance as of Prior Payment Date
    
8,698,500.00
 
xvii.
Collection Account Balance (sum of  xiv through xvi above)
 $ 
101,997,277.42


                       
 Exhibit 99.1
2.
Outstanding Amounts as of Prior Payment Date:
            
                         
   
Series 2006-1
                  
 
i.
Class A-1 Outstanding Amount
             $
217,000,000.00
 
ii.
Class A-2 Outstanding Amount
              
341,000,000.00
 
iii.
Class A-3 Outstanding Amount
              
250,000,000.00
 
iv.
Class A-4 Outstanding Amount
              
437,000,000.00
 
v.
Class A-5 Outstanding Amount
              
494,700,000.00
 
vi.
Aggregate Outstanding Amount of all Series 2006-1 Notes
   $ 
1,739,700,000.00
                         
   
{Add Other Series as applicable}
                
                         
 
vii.
Aggregate Outstanding Amount of all Notes
         $ 
1,739,700,000.00
                         
3.
Required Funding/Payments as of Current Payment Date:
            
                         
                       
Principal
   
Series 2006-1 Principal
                
Due
 
i.
Class A-1
                 $
25,497,401.00
 
ii.
Class A-2
                  
0.00
 
iii.
Class A-3
                  
0.00
 
iv.
Class A-4
                  
0.00
 
v.
Class A-5
                  
0.00
 
vi.
For all Series 2006-1 Notes
             $ 
25,497,401.00
                         
   
{Add Other Series as applicable}
                
                         
       
Note Interest
  
Days in Interest
    
Principal
      
   
Series 2006-1 Interest
  
Rate
  
Period (1)
    
Balance
    
Interest Due
 
vii.
Class A-1
  
4.98%
  
260
   $
217,000,000.00
   $ 
7,804,766.67
 
viii.
Class A-2
  
4.98%
  
260
    
341,000,000.00
    
12,264,633.33
 
ix.
Class A-3
  
5.09%
  
260
    
250,000,000.00
    
9,190,277.78
 
x.
Class A-4
  
5.17%
  
260
    
437,000,000.00
    
16,317,094.44
 
xi.
Class A-5
  
5.31%
  
260
    
494,700,000.00
    
18,958,525.52
 
xii.
For all Series 2006-1 Notes
             $ 
64,535,297.74
                         
   
{Add Other Series as applicable}
                
                 
Required Level
    
Funding Required
                         
 
xiii.
Capital Subaccount
         $
8,698,500.00
   $ 
0.00
                $
8,698,500.00
   $
0.00
                         
Notes:
                      
1.  On 30/360 day basis for initial payment date; otherwise use one-half of annual rate.
      
                         


                 
Exhibit 99.1
                         
 4. Allocation of Remittances as of Current Payment Date Pursuant to 8.02(e)
      
 
of Indenture:
                    
                         
 
i.
Trustee Fees and Expenses
             $ 
0.00
 
ii.
Servicing Fee
                
869,850.00
 
iii.
Administration Fee
                
100,000.00
 
iv.
Operating Expenses
                
133,546.41
 
v.
Semi-Annual Interest (including any past-due for prior periods)
    
64,535,297.74
                 
 Per $1000 of Original
      
   
Series 2006-1
      
Aggregate
    
 Principal Amount
      
                         
 
1.
Class A-1 Interest Payment
 $
7,804,766.67
   $
35.9667
      
 
2.
Class A-2 Interest Payment
  
12,264,633.33
    
35.9667
      
 
3.
Class A-3 Interest Payment
  
9,190,277.78
    
36.7611
      
 
4.
Class A-4 Interest Payment
  
16,317,094.44
    
37.3389
      
 
5.
Class A-5 Interest Payment
  
18,958,525.52
    
38.3233
      
          $
64,535,297.74
            
   
{Add Other Series as applicable}
                
                         
                         
 
vi.
Principal Due and Payable as a Result of Event of Default or on Final
   $
0.00
   
Maturity Date
                  
                 
Per $1000 of Original
      
   
Series 2006-1
      
Aggregate
    
Principal Amount
      
                         
 
1.
Class A-1 Principal Payment
 $
0.00
   $ 
0.0000
      
 
2.
Class A-2 Principal Payment
  
0.00
    
0.0000
      
 
3.
Class A-3 Principal Payment
  
0.00
    
0.0000
      
 
4.
Class A-4 Principal Payment
  
0.00
    
0.0000
      
 
5.
Class A-5 Principal Payment
  
0.00
    
0.0000
      
          $
0.00
            
   
{Add Other Series as Applicable}
                
                         
                         
 
vii.
Semi-Annual Principal
               $ 
25,497,401.00
                 
Per $1000 of Original
      
   
Series 2006-1
      
Aggregate
    
Principal Amount
      
                         
 
1.
Class A-1 Principal Payment
 $
25,497,401.00
   $
117.4995
      
 
2.
Class A-2 Principal Payment
  
0.00
    
0.0000
      
 
3.
Class A-3 Principal Payment
  
0.00
    
0.0000
      
 
4.
Class A-4 Principal Payment
  
0.00
    
0.0000
      
 
5.
Class A-5 Principal Payment
  
0.00
    
0.0000
      
          $
25,497,401.00
            
   
{Add Other Series as Applicable}
                
                         
                         

 
             
Exhibit 99.1
                     
 4. Allocation of Remittances as of Current Payment Date Pursuant to 8.02(e)
      
 
of Indenture (continued):
              
                     
 
viii.
Funding of Capital Subaccount (to required level)
     $
8,698,500.00
 
ix.
Investment Earnings on Capital Subaccount Released to Note Issuer
    
295,048.99
 
x.
Deposit to Reserve Subaccount
          
1,867,633.28
 
xi.
Released to Note Issuer upon Retirement of all Notes
      
0.00
 
xii.
Aggregate Remittances as of Current Payment Date
     $
101,997,277.42
                     
5.
Outstanding Amount and Collection Account Balance as of Current Payment Date (after giving effect
 
 to payments to be made on such Payment Date):
        
                     
   
Series 2006-1
                
                     
 
i.
Class A-1 Outstanding Amount
         $
191,502,599.00
 
ii.
Class A-2 Outstanding Amount
          
341,000,000.00
 
iii.
Class A-3 Outstanding Amount
          
250,000,000.00
 
iv.
Class A-4 Outstanding Amount
          
437,000,000.00
 
v.
Class A-5 Outstanding Amount
          
494,700,000.00
 
vi.
Aggregate Outstanding Amount of all Series 2006-1 Notes
   $
1,714,202,599.00
                     
   
{Add Other Series as applicable}
            
                     
 
vii.
Aggregate Outstanding Amount of all Notes
     $
1,714,202,599.00
                     
 
viii.
Reserve Subaccount Balance
         $
1,867,633.28
 
x.
Capital Subaccount Balance
          
8,698,500.00
 
xi.
Aggregate Collection Account Balance
       $
10,566,133.28
                     
6.
Subaccount Withdrawals as of Current Payment Date
        
 
(if applicable, pursuant to Section 8.02(e) of Indenture):
        
                     
 
i.
Reserve Subaccount
           $
0.00
 
iii.
Capital Subaccount
            
8,993,548.99
 
iv.
Total Withdrawals
           $
8,993,548.99
                     
                     


             
Exhibit 99.1
                     
7.
Shortfalls In Interest and Principal Payments as of Current Payment Date:
   $
0.00
                     
 
i.
Semi-annual Interest
              
                     
   
Series 2006-1
                
                     
 
1.
Class A-1 Interest Payment
         $
0.00
 
2.
Class A-2 Interest Payment
          
0.00
 
3.
Class A-3 Interest Payment
          
0.00
 
4.
Class A-4 Interest Payment
          
0.00
 
5.
Class A-5 Interest Payment
          
0.00
                  $
0.00
   
{Add Other Series as Applicable}
            
                     
 
ii.
Semi-annual Principal
           $
0.00
                     
   
Series 2006-1
                
                     
 
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
 
5.
Class A-5 Principal Payment
          
0.00
                  $
0.00
                     
   
{Add Other Series as Applicable}
            
                     
8
Shortfalls in Required Subaccount Levels as of Current Payment Date:
      
                     
 
i.
Overcollateralization Subaccount
         $
0.00
 
ii.
Capital Subaccount
            
0.00
                  $
0.00
                     
                     
IN WITNESS HEREOF, the undersigned has duly executed and delivered this Semi-Annual
    
Servicer’s Certificate this 27th day of June, 2007.
        
                     
                     
                     
AEP TEXAS CENTRAL COMPANY, as Servicer
            
                     
By:  /s/ Stephan T. Haynes                
                 
Name:  Stephan T. Haynes
                
                     
Title:  Assistant Treasurer