EX-99.3 4 exhibit993-oefunding011521.htm EX-99.3 Document

Exhibit 99.3
OE FUNDING LLC SEMIANNUAL SERVICER CERTIFICATE
Pursuant to Section 4.01(d)(iii) of the Phase-In-Recovery Property Servicing Agreement, dated as of June 20, 2013 (the “Servicing Agreement”), between Ohio Edison Company, as servicer and OE Funding LLC, the Servicer does hereby certify, for the Current Payment Date, as follows:
Capitalized terms used herein have their respective meanings as set forth in the Servicing Agreement. References herein to certain sections and subsections are references to the respective sections of the Servicing Agreement.
1. Phase-In-Recovery Charge Collections and Aggregate Amounts Available for the Current Payment Date:
i.July Partial Amount Remitted:$373,527.88 
ii.August Amount Remitted:$814,576.26 
iii.September Amount Remitted:$911,155.31 
iv.October Amount Remitted:$781,971.45 
v.November Amount Remitted:$706,840.19 
vi.December Amount Remitted:$728,843.37 
vii.January Partial Amount Remitted:$519,248.14 
viii.Total Amount Remitted for this Period July 15, 2020 through January 14, 2021 (sum of i. through vii. above): $4,836,162.60 
ix.Net Earnings on Collection Account:$628.71 
x.Expenses Paid to Date:$— 
xi.General Subaccount Balance (sum of viii. and ix. above minus x.):$4,836,791.31 
xii.Excess Funds Subaccount Balance Before Current Payment is Made:$0.00 
xiii.Capital Subaccount Balance Before Current Payment is Made:$784,262.29 
xiv.Collection Account Balance (sum of xi. Through xiii. Above):$5,621,053.60 
2. Outstanding Principal Balance as of Prior Payment Date by Tranche:
i.Tranche A-1 Principal Balance Outstanding Bond:$— 
ii.Tranche A-2 Principal Balance Outstanding Bond:$— 
iii.Tranche A-3 Principal Balance Outstanding Bond:$121,138,425.46 
iv.Total Bond Principal Balance:$121,138,425.46 
 3. Required Funding/Payments as of Current Payment Date:
 a) Projected Principal Balances and Payments
ProjectedSemiannual
Principal BalancePrincipal Due
i.Tranche A-1 Bond$— $— 
ii.Tranche A-2 Bond$— $— 
iiiTranche A-3 Bond$119,481,164.52 $1,657,260.94 
iv.Total Projected Principal Amount: $119,481,164.52 $1,657,260.94 
b) Required Interest Payments
BondDays inInterest
Interest RateApplicable PeriodDue
i.Tranche A-1 Bond0.6790%180$— 
ii.Tranche A-2 Bond1.7260%180$— 
iii.Tranche A-3 Bond3.4500%180$2,089,637.84 
iv.
Total Required Interest Amount:
$2,089,637.84 




 c) Projected Subaccount Payments and Levels
SubaccountRequired Capital LevelFunding Required
i.Capital Subaccount:$847,520.00 $63,257.71 
ii.
Total Subaccount Payments and Levels:
$847,520.00 $ 
 4. Allocation of Remittances as of Current Payment Date Pursuant to Section 8.02(f) of Bond Indenture:
a) Semiannual Expenses
Net Expense Amount (Payable on Current Payment Date):
i.Bond, Delaware and Certificate Trustee Fees and Expenses allocable to Bond Issuer:$— 
ii.Semiannual Servicing Fee:$84,752.00 
iii.Semiannual Administration Fee:$19,048.50 
iv.Operating Expenses (subject to Cap):$17,568.73 
v.CAT Tax:$13,244.01 
vi.Total Expenses:$134,613.24 
b) Semiannual Interest
AggregatePer $1000 of Original
Principal Amount
i.Tranche A-1 Bond$— $— 
ii.Tranche A-2 Bond$— $— 
iii.Tranche A-3 Bond$2,089,637.84 $16.90 
iv.
Total Semiannual Interest:
$2,089,637.84 
 c) Semiannual Principal
AggregatePer $1000 of Original
Principal Amount
i.Tranche A-1 Bond$— $— 
ii.Tranche A-2 Bond$— $— 
iii.Tranche A-3 Bond$1,657,260.94 $13.41 
iv.Total Semiannual Principal:$1,657,260.94 
d) Other Payments
i.Trustee Operating Expenses (in excess of [$100,000]):$— 
ii.Unpaid Operating Expenses:$— 
iii.Funding of Capital Subaccount (to required Capital Levels):$63,257.71 
iv.Unpaid and Accrued Return on Capital:$— 
v.Return on Capital Account:$29,027.50 
vi.Reimbursement of Servicer of Certain Indemnity Amounts Paid to Trustee:$— 
vii.Deposits to Excess Funds Subaccount:$862,994.08 
5. Outstanding Principal Balance and Collection Account Balance as of Current Payment Date (after giving effect to payments to be made on such distribution date):
a) Principal Balance Outstanding:
i.Tranche A-1 Principal Balance Outstanding Bond:$— 
ii.Tranche A-2 Principal Balance Outstanding Bond:$— 
iii.Tranche A-3 Principal Balance Outstanding Bond:$119,481,164.52 
iv.Total Bond Principal Balance:$119,481,164.52 




 b) Collection Account Balances:
Balance After Payment
i.Capital Subaccount$847,520.00 
ii.Excess Funds Subaccount:$862,994.08 
iii.Total Subaccount Balance:$1,710,514.08 
6. Subaccount Draws as of Current Payment Date (if applicable, pursuant to Section 8.02(f) of Bond Indenture):
i.Capital Subaccount:$— 
ii.Excess Funds Subaccount:$— 
iii.Total Subaccount Draws:$ 
7. Shortfalls in Interest and Principal Payments as of Current Payment Date (if applicable):
a) Semiannual Interest Shortfall
i.Tranche A-1 Bond$— 
ii.Tranche A-2 Bond$— 
iii.Tranche A-3 Bond$— 
iv.Total Semiannual Interest Shortfall:$ 
 b) Semiannual Principal Shortfall
i.Tranche A-1 Bond$— 
ii.Tranche A-2 Bond$— 
iii.Tranche A-3 Bond$— 
iv.Total Semiannual Principal Shortfall:$ 
8. Shortfalls in Required Subaccount Levels as of Current Distribution Date:
i.Capital Subaccount:$— 
ii.Total Subaccount Shortfalls:$— 
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IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Semiannual Servicer Certificate this 14th day of January, 2021.
OHIO EDISON COMPANY, as Servicer
By:/s/ Steven R. Staub
Name: Steven R. Staub
Title: Vice President and Treasurer