EX-99.1 CHARTER 2 ex991tcc.htm SEMI-ANNUAL SERVICER'S CERTIFICATE Unassociated Document
                   
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:
Jul-2007
to
Dec-2007
     
         
  Payment Date:
01/02/2008
         
                       
  1.    
Collections Allocable and Aggregate Amounts Available for the Current Payment Date:
     
                         
          i.  
Remittances for the 07/07 Collection Period
 
 $ 
  14,975,141.03  
       
ii.
 
Remittances for the 08/07 Collection Period
        16,189,998.27  
       
iii.
 
Remittances for the 09/07 Collection Period
        15,019,053.23  
       
iv.
 
Remittances for the 10/07 Collection Period
        16,423,689.51  
          v.  
Remittances for the 11/07 Collection Period
        16,597,818.53  
       
vi.
 
Remittances for the 12/07 Collection Period
        14,497,899.16  
       
vii.
 
Investment Earnings on Collection Account
           
             
viii.
Investment Earnings on Capital Subaccount
    230,698.26  
             
ix.
Investment Earnings on Excess Funds Subaccount
    40,721.40  
             
x.
Investment Earnings on General Subaccount
    1,242,205.76  
       
xi.
 
General Subaccount Balance (sum of  i through x above)
  $    95,217,225.15  
                             
       
xii.
 
Excess Funds Subaccount Balance as of Prior Payment Date
$    1,867,633.28  
       
xiii.
 
Capital Subaccount Balance as of Prior Payment Date
      8,698,500.00  
       
xiv.
 
Collection Account Balance (sum of  xii through xiii above)
  $    105,783,358.43  
 
 

 
                               
Exhibit 99.1
 
                                   
  2.    
Outstanding Amounts as of Prior 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  
                                         
  3.    
Required Funding/Payments as of Current Payment Date:
                     
                                         
                                   
Principal
 
             
Series 2006-1 Principal
                   
Due
 
          i.  
Class A-1
                  $    44,904,999.00  
       
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
                  $    44,904,999.00  
                                         
             
{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 %     180   $    191,502,599.00   $    4,768,414.72  
       
viii.
 
Class A-2
    4.98 %     180       341,000,000.00       8,490,900.00  
       
ix.
 
Class A-3
    5.09 %     180       250,000,000.00       6,362,500.00  
          x.  
Class A-4
    5.17 %     180       437,000,000.00       11,296,450.00  
       
xi.
 
Class A-5
    5.31 %     180       494,700,000.00       13,125,133.05  
       
xii.
 
For all Series 2006-1 Notes
                        $    44,043,397.77  
                                               
             
{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
                434,925.00  
       
iii.
 
Administration Fee
                50,000.00  
       
iv.
 
Operating Expenses
                33,562.39  
          v.  
Semi-Annual Interest (including any past-due for prior periods)
            44,043,397.77  
                       
Per $1000 of Original
         
             
Series 2006-1
 
Aggregate
   
Principal Amount
         
                                   
          1.  
Class A-1 Interest Payment
$    4,768,414.72     $ 24.9000          
          2.  
Class A-2 Interest Payment
    8,490,900.00     $ 24.9000          
          3.  
Class A-3 Interest Payment
    6,362,500.00     $ 25.4500          
          4.  
Class A-4 Interest Payment
    11,296,450.00     $ 25.8500          
          5.  
Class A-5 Interest Payment
    13,125,133.05     $ 26.5315          
                $    44,043,397.77                  
             
{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
                $    44,904,999.00  
                         
Per $1000 of Original
         
             
Series 2006-1
 
Aggregate
   
Principal Amount
         
                                       
          1.  
Class A-1 Principal Payment
$    44,904,999.00     $ 234.4877          
          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          
                $    44,904,999.00                  
             
{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
    230,698.26  
          x.  
Deposit to Excess Funds Subaccount
    7,387,276.01  
       
xi.
 
Released to Note Issuer upon Retirement of all Notes
    0.00  
       
xii.
 
Aggregate Remittances as of Current Payment Date
$    105,783,358.43  
                       
  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
$    146,597,600.00  
       
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
$    1,669,297,600.00  
                       
             
{Add Other Series as applicable}
       
                       
       
vii.
 
Aggregate Outstanding Amount of all Notes
$    1,669,297,600.00  
                       
       
viii.
 
Excess Funds Subaccount Balance
$    7,387,276.01  
          x.  
Capital Subaccount Balance
    8,698,500.00  
       
xi.
 
Aggregate Collection Account Balance
$    16,085,776.01  
                       
  6.    
Subaccount Withdrawals as of Current Payment Date
       
       
(if applicable, pursuant to Section 8.02(e) of Indenture):
       
                       
          i.  
Excess Funds Subaccount
$    1,908,354.68  
       
iii.
 
Capital Subaccount
    8,929,198.26  
       
iv.
 
Total Withdrawals
$    10,837,552.94  
                       
                       
 
 

 
             
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:
       
                       
       
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 December, 2007.
       
                       
                       
                       
AEP TEXAS CENTRAL COMPANY, as Servicer
       
                       
by: Steve Haynes
       
                       
title: Assistant Treasurer