Exhibit 99
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Quarterly Servicer's
Certificate
PPL Transition Bond
Company LLC
$2,420,000,000 Transition Bonds, Series 1999-1
Pursuant to Section 4
of Annex 1 the Intangible Transition Property Servicing Agreement
dated as of August 10, 1999 (the "Servicing Agreement") between PPL
Electric Utilities Corporation, as Servicer and PPL Transition Bond
Company, LLC, as Issuer, the Servicer does hereby certify as
follows:
Capitalized terms used
in the Quarterly Servicer's Certificate (the "Quarterly
Certificate") have their respective meanings as set forth in the
Servicing Agreement. References herein to the "Indenture" are to
the Indenture dated as of August 10, 1999 between PPL Transition
Bond Company, LLC, as Issuer and The Bank of New York as
Trustee.
Billing Periods: March
2004, April 2004, May 2004
Payment Date: June 25, 2004
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1.
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Collections Allocable and
Aggregate Amounts Available for the Current Payment
Date:
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i.
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Remittances for the March 2004
Collection Period
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$31,071,339.30
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ii.
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Remittances for the April 2004
Collection Period
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$29,423,327.74
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iii.
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Remittances for the May 2004
Collection Period
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$27,376,881.16
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iv.
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Net Earnings on Collection
Account
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$87,807.45
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v.
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Net Earnings on Capital
Subaccount
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$21,752.95
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vi.
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Net Earnings on
Overcollateralization Subaccount
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$10,224.57
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vii.
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Net Earnings on Reserve
Subaccount
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$21,051.77
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viii.
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General Subaccount
Balance
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$88,012,384.94
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ix.
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Reserve Subaccount
Balance
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$9,353,965.76
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x.
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Overcollateralization Subaccount
Balance
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$5,886,486.16
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xi.
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Capital Subaccount Balance (less
$100K)
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$12,000,000.00
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xii.
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Collection Account
Balance
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$115,252,836.86
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2.
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Outstanding Principal Balance
and Collection Account Balance as of Prior Payment
Date:
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i.
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Class A-1 Principal
Balance
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$0.00
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ii.
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Class A-2 Principal
Balance
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$0.00
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iii.
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Class A-3 Principal
Balance
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$0.00
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iv.
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Class A-4 Principal
Balance
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$0.00
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v.
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Class A-5 Principal
Balance
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$218,538,788.00
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vi.
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Class A-6 Principal
Balance
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$223,000,000.00
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vii.
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Class A-7 Principal
Balance
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$455,000,000.00
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viii.
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Class A-8 Principal
Balance
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$454,000,000.00
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ix.
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Transition Bond Principal
Balance
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$1,350,538,788.00
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x.
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Reserve Subaccount
Balance
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$9,353,965.76
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xi.
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Overcollateralization Subaccount
Balance
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$5,886,486.16
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xii.
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Capital Subaccount
Balance
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$12,000,000.00
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3.
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Required Funding/Payments as
of Current Payment Date:
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i.
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Projected Class A-1 Bond
Balance
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$0.00
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ii.
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Projected Class A-2 Bond
Balance
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$0.00
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iii.
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Projected Class A-3 Bond
Balance
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$0.00
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iv.
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Projected Class A-4 Bond
Balance
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$0.00
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v.
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Projected Class A-5 Bond
Balance
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$149,923,675.00
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vi.
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Projected Class A-6 Bond
Balance
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$223,000,000.00
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vii.
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Projected Class A-7 Bond
Balance
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$455,000,000.00
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viii.
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Projected Class A-8 Bond
Balance
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$454,000,000.00
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ix.
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Projected Transition Bond
Balance
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$1,281,923,675.00
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x.
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Required Class A-1 Coupon (6.08%
per annum rate)
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$0.00
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xi.
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Required Class A-2
Coupo
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