EX-99.1 CHARTER 2 exhibit991.htm EXHIBIT 99.1 SEMI-ANNUAL SERVICER'S CERTIFICATE exhibit991.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:
Jul-2009
to
Dec-2009
      
   
Payment Date:
01/04/2010
      
                   
1.
Collections Allocable and Aggregate Amounts Available for the Current Payment Date:
                   
 
i.
Remittances for the 07/09 Collection Period
    
20,026,016.41
 
ii.
Remittances for the 08/09 Collection Period
    
19,808,999.13
 
iii.
Remittances for the 09/09 Collection Period
    
18,311,168.01
 
iv.
Remittances for the 10/09 Collection Period
    
17,764,347.18
 
v.
Remittances for the 11/09 Collection Period
    
15,526,480.68
 
vi.
Remittances for the 12/09 Collection Period (1)
    
12,919,867.54
 
vii.
Investment Earnings on Collection Account
      
    viii.
Investment Earnings on Capital Subaccount
 
    
7,491.01
    ix.
Investment Earnings on Excess Funds Subaccount
 
  
306.40
    x.
Investment Earnings on General Subaccount
 
    
43,006.87
 
xi.
General Subaccount Balance (sum of  i through x above)
    
104,407,683.23
                   
 
xii.
Excess Funds Subaccount Balance as of Prior Payment Date
  
14,522.07
 
xiii.
Capital Subaccount Balance as of Prior Payment Date
    
8,698,500.00
 
xiv.
Collection Account Balance (sum of  xii through xiii above)
  
113,120,705.30
                   
                   
                   
                   
 
(1) December remittances include the previous year's true-up, which will be settled on January 25, 2010.
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                 
 
                   
2.
Outstanding Amounts as of Prior Payment Date:
      
                   
   
Series 2006-1
            
 
i.
Class A-1 Outstanding Amount
        
33,257,770.00
 
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
  
1,555,957,770.00
                   
   
{Add Other Series as applicable}
          
                   
 
vii.
Aggregate Outstanding Amount of all Notes
    
1,555,957,770.00
                   
3.
Required Funding/Payments as of Current Payment Date:
      
                   
                 
Principal
   
Series 2006-1 Principal
            
Due
 
i.
Class A-1
            
33,257,770.00
 
ii.
Class A-2
            
20,758,335.00
 
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
        
54,016,105.00
                   
   
{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
33,257,770.00
  
828,118.47
 
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
        
40,103,101.52
                   
   
{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.
    
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                 
 
                   
     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
          
31,508.06
 
v.
Semi-Annual Interest (including any past-due for prior periods)
  
40,103,101.52
             
 Per $1000 of Original
    
   
Series 2006-1
      
Aggregate
 Principal Amount
    
                   
 
1.
Class A-1 Interest Payment
  
828,118.47
$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
    
           
40,103,101.52
      
   
{Add Other Series as applicable}
          
                   
                   
 
vi.
Principal Due and Payable as a Result of Event of Default or on Final Maturity Date
  
0.00
   
 
            
             
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
          
54,016,105.00
             
Per $1000 of Original
    
   
Series 2006-1
      
Aggregate
Principal Amount
    
                   
 
1.
Class A-1 Principal Payment
  
33,257,770.00
$1,000.0000
    
 
2.
Class A-2 Principal Payment
  
20,758,335.00
$60.8749
    
 
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
    
           
54,016,105.00
      
   
{Add Other Series as Applicable}
          
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                 
 
                   
     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
  
7,491.01
 
x.
Deposit to Excess Funds Subaccount
      
9,779,074.71
 
xi.
Released to Note Issuer upon Retirement of all Notes
    
0.00
 
xii.
Aggregate Remittances as of Current Payment Date
    
113,120,705.30
                   
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
        
0.00
 
ii.
Class A-2 Outstanding Amount
        
320,241,665.00
 
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
  
1,501,941,665.00
                   
   
{Add Other Series as applicable}
          
                   
 
vii.
Aggregate Outstanding Amount of all Notes
    
1,501,941,665.00
                   
 
viii.
Excess Funds Subaccount Balance
        
9,779,074.71
 
x.
Capital Subaccount Balance
        
8,698,500.00
 
xi.
Aggregate Collection Account Balance
      
18,477,574.71
                   
6.
Subaccount Withdrawals as of Current Payment Date
      
 
(if applicable, pursuant to Section 8.02(e) of Indenture):
      
                   
 
i.
Excess Funds Subaccount
        
14,828.47
 
iii.
Capital Subaccount
          
8,705,991.01
 
iv.
Total Withdrawals
          
8,720,819.48
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                   
                 
 
                   
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 4th date of January, 2010.
      
                   
                   
                   
AEP TEXAS CENTRAL COMPANY, as Servicer
          
By:          /s/ Charles E. Zebula                 
Name:    Charles Zebula
              
Title:      Treasurer