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Title: |
Transition Property Servicing Agreement |
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Date: |
2008 |
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Preview shows 24KB of 183KB total |
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$67 |
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ID: |
#3270065 |
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TRANSITION PROPERTY SERVICING AGREEMENT
between
CENTERPOINT ENERGY TRANSITION BOND COMPANY III, LLC
Issuer
and
CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC
Servicer
Dated as of February [ ], 2008
Table of Contents
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ARTICLE I DEFINITIONS |
2 | |
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SECTION 1.01. DEFINITIONS |
2 | |
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SECTION 1.02. OTHER DEFINITIONAL PROVISIONS |
2 | |
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ARTICLE II APPOINTMENT AND AUTHORIZATION OF SERVICER |
2 | |
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SECTION 2.01. APPOINTMENT OF THE SERVICER; ACCEPTANCE OF APPOINTMENT |
2 | |
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SECTION 2.02. AUTHORIZATION |
2 | |
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SECTION 2.03. DOMINION AND CONTROL OVER TRANSITION PROPERTY |
3 | |
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ARTICLE III BILLING AND OTHER SERVICES |
3 | |
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SECTION 3.01. DUTIES OF THE SERVICER |
3 | |
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SECTION 3.02. SERVICING AND MAINTENANCE STANDARDS |
6 | |
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SECTION 3.03. ANNUAL REPORTS ON COMPLIANCE WITH REGULATION AB |
7 | |
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SECTION 3.04. ANNUAL REGISTERED INDEPENDENT PUBLIC ACCOUNTING FIRM REPORT |
8 | |
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SECTION 3.05. MONITORING OF THIRD-PARTY COLLECTORS |
9 | |
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ARTICLE IV SERVICES RELATED TO TRANSITION CHARGE ADJUSTMENTS AND PBRAF ADJUSTMENTS |
13 | |
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SECTION 4.01. TRANSITION CHARGE ADJUSTMENTS |
13 | |
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SECTION 4.02. LIMITATION OF LIABILITY |
16 | |
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ARTICLE V THE TRANSITION PROPERTY |
17 | |
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SECTION 5.01. CUSTODY OF TRANSITION PROPERTY RECORDS |
17 | |
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SECTION 5.02. DUTIES OF SERVICER AS CUSTODIAN |
17 | |
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SECTION 5.03. CUSTODIAN?S INDEMNIFICATION |
19 | |
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SECTION 5.04. EFFECTIVE PERIOD AND TERMINATION |
19 | |
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ARTICLE VI THE SERVICER |
19 | |
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SECTION 6.01. REPRESENTATIONS AND WARRANTIES OF THE SERVICER |
19 | |
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SECTION 6.02. INDEMNITIES OF THE SERVICER; RELEASE OF CLAIMS |
21 | |
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SECTION 6.03. MERGER OR CONSOLIDATION OF, OR ASSUMPTION OF THE OBLIGATIONS OF, THE SERVICER |
24 | |
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SECTION 6.04. ASSIGNMENT OF THE SERVICER?S OBLIGATIONS |
26 | |
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SECTION 6.05. LIMITATION ON LIABILITY OF THE SERVICER AND OTHERS |
26 | |
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SECTION 6.06. CENTERPOINT HOUSTON NOT TO RESIGN AS SERVICER |
27 | |
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SECTION 6.07. SERVICING FEE |
27 | |
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SECTION 6.08. SERVICER EXPENSES |
28 | |
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SECTION 6.09. COMPLIANCE WITH APPLICABLE LAW |
28 | |
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SECTION 6.10. APPOINTMENTS |
28 | |
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SECTION 6.11. NO SERVICER ADVANCES |
28 | |
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SECTION 6.12. REMITTANCES |
28 | |
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SECTION 6.13. SERVICER?S CERTIFICATE |
29 | |
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SECTION 6.14. PROTECTION OF TITLE |
29 | |
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SECTION 6.15. MAINTENANCE OF OPERATIONS |
29 | |
i
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ARTICLE VII SERVICER DEFAULT |
29 | |
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SECTION 7.01. SERVICER DEFAULT |
29 | |
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SECTION 7.02. NOTICE OF SERVICER DEFAULT |
31 | |
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SECTION 7.03. WAIVER OF PAST DEFAULTS |
31 | |
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SECTION 7.04. APPOINTMENT OF SUCCESSOR |
31 | |
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SECTION 7.05. COOPERATION WITH SUCCESSOR |
32 | |
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ARTICLE VIII MISCELLANEOUS PROVISIONS |
33 | |
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SECTION 8.01. AMENDMENT |
33 | |
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SECTION 8.02. NOTICES |
33 | |
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SECTION 8.03. ASSIGNMENT |
34 | |
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SECTION 8.04. LIMITATIONS ON RIGHTS OF OTHERS |
34 | |
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SECTION 8.05. SEVERABILITY |
34 | |
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SECTION 8.06. SEPARATE COUNTERPARTS |
34 | |
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SECTION 8.07. HEADINGS |
34 | |
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SECTION 8.08. GOVERNING LAW |
34 | |
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SECTION 8.09. ASSIGNMENT TO THE TRUSTEE |
35 | |
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SECTION 8.10. NONPETITION COVENANTS |
35 | |
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SECTION 8.11. TERMINATION |
35 | |
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SECTION 8.12. PUCT CONSENT |
35 | |
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SECTION 8.13. EFFECT OF SUBSEQUENT PUCT REGULATIONS |
36 | |
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SECTION 8.14. LIMITATION OF LIABILITY |
36 | |
SCHEDULE A TO TRANSITION PROPERTY SERVICING AGREEMENT
EXHIBIT A?FORM OF SEMI-ANNUAL SERVICER?S CERTIFICATE
EXHIBIT B-1?FORM OF SERVICER?S REGULATION AB COMPLIANCE CERTIFICATE
EXHIBIT B-2?FORM OF CERTIFICATE OF COMPLIANCE
ANNEX 1 TO SERVICING AGREEMENT
APPENDIX A?MASTER DEFINITIONS
ii
TRANSITION PROPERTY SERVICING AGREEMENT dated as of February [ ], 2008 (this ?Agreement?) between CENTERPOINT ENERGY TRANSITION BOND COMPANY III, LLC, a Delaware limited liability company (the ?Issuer?), and CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC, a Texas limited liability company (?CenterPoint Houston?), as the servicer of the Transition Property hereunder (together with each successor to CenterPoint Houston in such capacity pursuant to Section 6.03 or 7.04, the ?Servicer?).
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