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-2010 to Dec-2010
    
   
Payment Date:
01/03/2011
    
                   
1.
Collections Allocable and Aggregate Amounts Available for the Current Payment Date:
                   
 
i.
Remittances for the 07/10 Collection Period (1)
    
16,937,524.59
 
ii.
Remittances for the 08/10 Collection Period
    
16,532,854.17
 
iii.
Remittances for the 09/10 Collection Period
    
19,472,800.69
 
iv.
Remittances for the 10/10 Collection Period
    
15,855,191.64
 
v.
Remittances for the 11/10 Collection Period
    
12,963,308.01
 
vi.
Remittances for the 12/10 Collection Period (2)
    
11,855,212.74
 
vii.
Investment Earnings on Collection Account
      
   
viii.
Investment Earnings on Capital Subaccount
    
8,645.10
   
ix.
Investment Earnings on Excess Funds Subaccount
  
13,091.00
   
x.
Investment Earnings on General Subaccount
    
46,493.49
 
xi.
General Subaccount Balance (sum of  i through x above)
    
93,685,121.43
                   
 
xii.
Excess Funds Subaccount Balance as of Prior Payment Date
  
13,708,257.30
 
xiii.
Capital Subaccount Balance as of Prior Payment Date
    
8,698,500.00
 
xiv.
Collection Account Balance (sum of  xii through xiii above)
  
116,091,878.73
                   
 
(1) July remittances include the previous year's true-up, which was settled on July 23, 2010.
 
(2) December remittances does not include the previous year's true-up, which will be settled on January 25, 2011.
                   
2.
Outstanding Amounts as of Prior Payment Date:
      
                   
   
        Series 2006-1
            
 
i.
Class A-1 Outstanding Amount
        
0.00
 
ii.
Class A-2 Outstanding Amount
        
283,000,263.00
 
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
  
1,464,700,263.00
                   
   
{Add Other Series as applicable}
          
                   
 
vii.
Aggregate Outstanding Amount of all Notes
    
1,464,700,263.00
                   
3.
Required Funding/Payments as of Current Payment Date:
      
                   
                 
Principal
 
Series 2006-1 Principal
          
Due
 
i.
Class A-1
            
0.00
 
ii.
Class A-2
            
58,266,298.00
 
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
        
58,266,298.00
                   
   
{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
0.00
  
0.00
 
viii.
Class A-2
  
4.98%
  
180
283,000,263.00
  
7,046,706.55
 
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
        
37,830,789.60
                   
   
{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
          
21,203.11
 
v.
Semi-Annual Interest (including any past-due for prior periods)
  
37,830,789.60
                   
   
Series 2006-1
    
Aggregate
 Per $1000 of Original
Principal Amount
    
                   
 
1.
Class A-1 Interest Payment
  
0.00
$0.0000
    
 
2.
Class A-2 Interest Payment
  
7,046,706.55
$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
    
           
37,830,789.60
      
   
{Add Other Series as applicable}
          
                   
                   
 
vi.
Principal Due and Payable as a Result of Event of Default or on Final
  
0.00
   
Maturity Date
            
   
Series 2006-1
    
Aggregate
Per $1000 of Original
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
          
58,266,298.00
   
Series 2006-1
    
Aggregate
Per $1000 of Original
Principal Amount
    
                   
 
1.
Class A-1 Principal Payment
  
0.00
$0.0000
    
 
2.
Class A-2 Principal Payment
  
58,266,298.00
$205.8878
    
 
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
    
           
58,266,298.00
      
   
{Add Other Series as Applicable}
          
                   
 
viii.
Funding of Capital Subaccount (to required level)
    
8,698,500.00
 
ix.
Investment Earnings on Capital Subaccount Released to Note Issuer
  
8,645.10
 
x.
Deposit to Excess Funds Subaccount
      
10,781,517.92
 
xi.
Released to Note Issuer upon Retirement of all Notes
    
0.00
 
xii.
Aggregate Remittances as of Current Payment Date
    
116,091,878.73
                   
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
        
224,733,965.00
 
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
  
1,406,433,965.00
                   
   
{Add Other Series as applicable}
          
                   
 
vii.
Aggregate Outstanding Amount of all Notes
    
1,406,433,965.00
                   
 
viii.
Excess Funds Subaccount Balance
        
10,781,517.92
 
x.
Capital Subaccount Balance
        
8,698,500.00
 
xi.
Aggregate Collection Account Balance
      
19,480,017.92
                   
6.
Subaccount Withdrawals as of Current Payment Date
      
 
(if applicable, pursuant to Section 8.02(e) of Indenture):
      
                   
 
i.
Excess Funds Subaccount
        
13,721,348.30
 
iii.
Capital Subaccount
          
8,707,145.10
 
iv.
Total Withdrawals
          
22,428,493.40
                   
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 17th day of December, 2010        
                   
                   
                   
AEP TEXAS CENTRAL COMPANY, as Servicer
          
                   
by:  /s/Charles Zebula
              
name: Charles Zebula              
title:  Treasurer