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:
Jan-2014
to
Jun-2014
      
   
Payment Date:
07/01/2014
          
                   
1.
Collections Allocable and Aggregate Amounts Available for the Current Payment Date:
    
                   
 
i.
Remittances for the 01/14 Collection Period (1)
    
15,216,323.27
 
ii.
Remittances for the 02/14 Collection Period
      
13,782,089.35
 
iii.
Remittances for the 03/14 Collection Period
      
16,550,840.81
 
iv.
Remittances for the 04/14 Collection Period
      
14,394,296.12
 
v.
Remittances for the 05/14 Collection Period
      
11,398,729.80
 
vi.
Remittances for the 06/14 Collection Period (2)
      
14,441,472.40
 
vii.
Investment Earnings on Collection Account
        
   
viii.
Investment Earnings on Capital Subaccount
    
2,136.11
   
ix.
Investment Earnings on Excess Funds Subaccount
    
1,108.73
   
x.
Investment Earnings on General Subaccount
    
12,023.32
 
xi.
General Subaccount Balance (sum of  i through x above)
    
85,799,019.91
                   
 
xii.
Excess Funds Subaccount Balance as of Prior Payment Date
    
3,809,743.68
 
xiii.
Capital Subaccount Balance as of Prior Payment Date
    
8,698,500.00
 
xiv.
Collection Account Balance (sum of  xii through xiii above)
    
98,307,263.59
                   
                   
                   
                   
 
(1) January remittances include the previous year's true-up, which was settled on January 24, 2014.
  
 
(2) June remittances do not include the previous year's true-up, which will be settled on July 25, 2014.
  
                   
                   
                   
                   
 
 
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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
        
0.00
 
iii.
Class A-3 Outstanding Amount
        
135,635,225.00
 
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
    
1,067,335,225.00
                   
   
{Add Other Series as applicable}
          
                   
 
vii.
Aggregate Outstanding Amount of all Notes
      
1,067,335,225.00
                   
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
            
0.00
 
iii.
Class A-3
            
54,664,854.00
 
iv.
Class A-4
            
0.00
 
v.
Class A-5
            
0.00
 
vi.
For all Series 2006-1 Notes
          
54,664,854.00
                   
   
{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
0.00
  
0.00
 
ix.
Class A-3
  
5.09%
  
180
135,635,225.00
  
3,451,916.48
 
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
          
27,873,499.53
                   
   
{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.
    
                   
 
 
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 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
          
38,866.21
 
v.
Semi-Annual Interest (including any past-due for prior periods)
    
27,873,499.53
                 
              Per $1000 of Original    
   
Series 2006-1
      
Aggregate
 Principal Amount
    
                   
 
1.
Class A-1 Interest Payment
    
0.00
$0.0000
    
 
2.
Class A-2 Interest Payment
    
0.00
$0.0000
    
 
3.
Class A-3 Interest Payment
    
3,451,916.48
$13.8077
    
 
4.
Class A-4 Interest Payment
    
11,296,450.00
$25.8500
    
 
5.
Class A-5 Interest Payment
    
13,125,133.05
$26.5315
    
           
27,873,499.53
      
   
{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
          
54,664,854.00
             
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
  
54,664,854.00
$218.6594
    
 
4.
Class A-4 Principal Payment
  
0.00
$0.0000
    
 
5.
Class A-5 Principal Payment
  
0.00
$0.0000
    
           
54,664,854.00
      
   
{Add Other Series as Applicable}
          
                   
                   
                   
 
 
Page 3
 
                   
 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
    
2,136.11
 
x.
Deposit to Excess Funds Subaccount
        
6,544,482.75
 
xi.
Released to Note Issuer upon Retirement of all Notes
    
0.00
 
xii.
Aggregate Remittances as of Current Payment Date
    
98,307,263.59
                   
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
        
0.00
 
iii.
Class A-3 Outstanding Amount
        
80,970,371.00
 
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
    
1,012,670,371.00
                   
   
{Add Other Series as applicable}
          
                   
 
vii.
Aggregate Outstanding Amount of all Notes
      
1,012,670,371.00
                   
 
viii.
Excess Funds Subaccount Balance
        
6,544,482.75
 
x.
Capital Subaccount Balance
          
8,698,500.00
 
xi.
Aggregate Collection Account Balance
        
15,242,982.75
                   
6.
Subaccount Withdrawals as of Current Payment Date
        
 
(if applicable, pursuant to Section 8.02(e) of Indenture):
      
                   
 
i.
Excess Funds Subaccount
          
3,810,852.41
 
iii.
Capital Subaccount
          
8,700,636.11
 
iv.
Total Withdrawals
          
12,511,488.52
                   
                   
                   
 
 
Page 4
 
                   
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 26th day of June, 2014.
      
                   
                   
                   
AEP TEXAS CENTRAL COMPANY, as Servicer
          
                   
By:  /s/ Julie Sloat
              
Name:  Julie Sloat
            
Title:  Treasurer
              

 
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