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:
December 2003, January 2004, February 2004
Payment Date: March 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 December 2003 Collection Period
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29,517,081.85
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ii.
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Remittances for the January 2004 Collection Period
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33,064,630.84
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iii.
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Remittances for the February 2004 Collection Period
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32,818,439.33
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iv.
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Net Earnings on Collection Account
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96,780.34
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v.
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Net Earnings on Capital Subaccount
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28,612.94
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vi.
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Net Earnings on Overcollateralization Subaccount
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12,559.43
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vii.
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Net Earnings on Reserve Subaccount
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20,769.28
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viii.
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General Subaccount Balance
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95,558,874.01
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ix.
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Reserve Subaccount Balance
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11,353,762.11
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x.
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Overcollateralization Subaccount Balance
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5,559,459.16
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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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124,472,095.28
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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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290,339,977.00
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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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1,422,339,977.00
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x.
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Reserve Subaccount Balance
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11,353,762.11
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xi.
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Overcollateralization Subaccount Balance
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5,559,459.16
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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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218,538,788.00
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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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1,350,538,788.00
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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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