|
|
|
|
|
|
|
|
|
|
Previous: CHASE MANHATTAN RV OWNER TRUST 1997-A, 8-K, 1998-01-30 |
Next: SOUTHWEST INDUSTRIAL PRODUCTS INC, 10SB12G, 1998-01-30 |
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report: January 30, 1998
CHASE MANHATTAN RV OWNER TRUST 1997-A
(Issuer of Securities)
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
(formerly known as "The Chase Manhattan Bank (USA)")
(Sponsor of the Trust)
(Exact name of registrant as specified in its charter)
United States 333-32263 22-2382028
--------------- ------------- ---------------
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
802 Delaware Avenue, Wilmington, Delaware 19801
----------------------------------------- ----------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (302) 575-5033
THE CHASE MANHATTAN BANK
(Sponsor of the Trust)
(Exact name of registrant as specified in its charter)
New York 333-32737 12-4994650
--------------- ------------- ---------------
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
270 Park Avenue, New York, New York 10017
----------------------------------------- ----------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 270-6000
<PAGE>
Item 5. Other Events.
-------------
On or about October 15, 1997 Monthly Interest as defined in the Sale
and Servicing Agreement dated as of October 1, 1997 (the "Agreement")
between Chase Manhattan Bank, USA, as a Seller, The Chase Manhattan Bank as a
Seller, The CIT Group/Sales Financing, Inc. as Servicer and Chase Manhattan
Marine Owner Trust 1997-A as Issuer was distributed to holders
("Certificateholders") of participations in the Chase Manhattan Marine Owner
Trust 1997-A in accordance with the Agreement. Copies of the applicable
Monthly Reports, as defined in the Agreement, have been furnished to
Certificateholders in accordance with the Agreement.
Copies of those Monthly Reports are being filed as Exhibit 20.1 to this
Current Report on Form 8-K.
Item 7(c). Exhibits
--------
Exhibit No. Description
----------- -----------
20.1 Monthly Reports with respect to the
October 15, 1997 distribution
<PAGE>
SIGNATURES
----------
Pursuant to the requirements of the Securities and Exchange Act of
1934, the registrant has caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
THE CIT GROUP/FINANCING, INC.
AS SERVICER
By: /s/Frank Garcia
---------------------
Name: Frank Garcia
Title: Vice President
Dated: January 30, 1998
<PAGE>
INDEX TO EXHIBITS
-----------------
Exhibit No. Description
---------- -----------
20.1 Monthly Reports with respect to the
October 15, 1997 distribution
<PAGE>
<TABLE>
CHASE MANHATTAN RV OWNER TRUST 1997-A
MONTHLY SERVICER'S REPORT
Settlement Date 9/30/97
Determination Date 10/9/97
Distribution Date 10/15/97
I. All Payments on the Contract 29,051,586.27
II. All Liquidation Proceeds on the Contract with respect to Principal 0.00
III. Repurchased Contracts 0.00
IV. Investment Earnings on Collection Account 0.00
V. Servicer Monthly Advances 1,104,096.46
VI. Distribution from the Reserve Account 499,371.26
VII. Deposits from the Pay-Ahead Account (including Investment Earnings) 229,085.35
VIII. Transfers to the Pay-Ahead Account (847,044.95)
IX. Less: Investment Earnings distributions 0.00
(a) To Sellers with respect to the Collection Account 0.00
(b) To Sellers with respect to the Pay-Ahead Account
Total available amount in Collection Account $30,037,094.39
===============
DISTRIBUTION AMOUNTS Cost per $1000
- -------------------------------- ----------------
<S> <C>
1. (a) Class A-1 Note Interest Distribution 185,045.00
(b) Class A-1 Note Principal Distribution 21,594,595.36
Aggregate Class A-1 Note Distribution 366.04437580 21,779,640.36
2. (a) Class A-2 Note Interest Distribution 386,882.22
(b) Class A-2 Note Principal Distribution 0.00
Aggregate Class A-2 Note Distribution 3.25111111 386,882.22
3. (a) Class A-3 Note Interest Distribution 371,581.67
(b) Class A-3 Note Principal Distribution 0.00
Aggregate Class A-3 Note Distribution 3.28833333 371,581.67
4. (a) Class A-4 Note Interest Distribution 244,144.44
(b) Class A-4 Note Principal Distribution 0.00
Aggregate Class A-4 Note Distribution 3.34444444 244,144.44
5. (a) Class A-5 Note Interest Distribution 443,666.67
(b) Class A-5 Note Principal Distribution 0.00
Aggregate Class A-5 Note Distribution 3.36111111 443,666.67
6. (a) Class A-6 Note Interest Distribution 299,688.89
(b) Class A-6 Note Principal Distribution 0.00
Aggregate Class A-6 Note Distribution 3.40555556 299,688.89
7. (a) Class A-7 Note Interest Distribution 194,433.33
(b) Class A-7 Note Principal Distribution 0.00
Aggregate Class A-7 Note Distribution 3.41111111 194,433.33
8. (a) Class A-8 Note Interest Distribution 294,194.44
(b) Class A-8 Note Principal Distribution 0.00
Aggregate Class A-8 Note Distribution 3.46111111 294,194.44
9. (a) Class A-9 Note Interest Distribution 214,177.78
(b) Class A-9 Note Principal Distribution 0.00
Aggregate Class A-9 Note Distribution 3.51111111 214,177.78
10. (a) Class A-10 Note Interest Distribution 230,027.78
(b) Class A-10 Note Principal Distribution 0.00
Aggregate Class A-10 Note Distribution 3.53888889 230,027.78
11. (a) Class B Certificate Interest Distribution 163,119.54
(b) Class B Certificate Principal Distribution 0.00
Aggregate Class B Certificate Distribution 3.63333333 163,119.54
12. Servicer Payment
(a) Servicing Fee 373,914.70
(b) Reimbursement of prior Monthly Advances 0.00
Total Servicer Payment 373,914.70
13. Deposits to the Reserve Account 4,542,251.31
14. (a) Amounts to the Sellers (Chase USA) from Excess Collections 0.00
(b) Amounts to the Sellers (Chase Manhattan Bank) from Excess Collections 0.00
(c) Distribution from the Reserve Account to the Sellers(Chase USA) 64,069.33
(d) Distribution from the Reserve Account to the Sellers(Chase Manhattan Bank) 435,301.93
Total Amounts to Sellers(Chase USA & Chase Manhattan Bank) 499,371.26
Total Distribution Amount $30,037,094.39
===============
INTEREST
- --------------------------------
1. Current Interest Requirement
(a) Class A-1 Notes @5.598% 185,045.00
(b) Class A-2 Notes @5.852% 386,882.22
(c) Class A-3 Notes @5.919% 371,581.67
(d) Class A-4 Notes @6.020% 244,144.44
(e) Class A-5 Notes @6.050% 443,666.67
(f) Class A-6 Notes @6.130% 299,688.89
(g) Class A-7 Notes @ 6.140% 194,433.33
(h) Class A-8 Notes @ 6.230% 294,194.44
(i) Class A-9 Notes @6.320% 214,177.78
(j) Class A-10 Notes @6.370% 230,027.78
Aggregate Interest on Notes 2,863,842.22
(k) Class B Certificates6.540% 163,119.54
2. Remaining Interest Shortfall
(a) Class A-1 Notes 0.00
(b) Class A-2 Notes 0.00
(c) Class A-3 Notes 0.00
(d) Class A-4 Notes 0.00
(e) Class A-5 Notes 0.00
(f) Class A-6 Notes 0.00
(g) Class A-7 Notes 0.00
(h) Class A-8 Notes 0.00
(i) Class A-9 Notes 0.00
(j) Class A-10 Notes 0.00
(k) Class B Certificates 0.00
3. Total Distribution of Interest Cost per $1000
----------------
(a) Class A-1 Notes 3.11000000 185,045.00
(b) Class A-2 Notes 3.25111111 386,882.22
(c) Class A-3 Notes 3.28833333 371,581.67
(d) Class A-4 Notes 3.34444444 244,144.44
(e) Class A-5 Notes 3.36111111 443,666.67
(f) Class A-6 Notes 3.40555556 299,688.89
(g) Class A-7 Notes 3.41111111 194,433.33
(h) Class A-8 Notes 3.46111111 294,194.44
(i) Class A-9 Notes 3.51111111 214,177.78
(j) Class A-10 Notes 3.53888889 230,027.78
Total Aggregate Interest on Notes 2,863,842.22
(k) Class B Certificates 3.63333333 163,119.54
PRINCIPAL
- --------------------------------
No. of Contracts
----------------
1. Amount of Stated Principal Collected 7,214,481.86
2. Amount of Principal Prepayment Collected 532 14,380,113.50
3. Amount of Liquidated Contract 0 0.00
4. Amount of Repurchased Contract 0 0.00
Total Formula Principal Distribution Amount 21,594,595.36
5. Principal Balance before giving effect to Principal Distribution Pool Factor
(a) Class A-1 Notes 1.0000000 59,500,000.00
(b) Class A-2 Notes 1.0000000 119,000,000.00
(c) Class A-3 Notes 1.0000000 113,000,000.00
(d) Class A-4 Notes 1.0000000 73,000,000.00
(e) Class A-5 Notes 1.0000000 132,000,000.00
(f) Class A-6 Notes 1.0000000 88,000,000.00
(g) Class A-7 Notes 1.0000000 57,000,000.00
(h) Class A-8 Notes 1.0000000 85,000,000.00
(i) Class A-9 Notes 1.0000000 61,000,000.00
(j) Class A-10 Notes 1.0000000 65,000,000.00
(k) Class B Certificates 1.0000000 44,895,285.54
6. Remaining Principal Shortfall
(a) Class A-1 Notes 0.00
(b) Class A-2 Notes 0.00
(c) Class A-3 Notes 0.00
(d) Class A-4 Notes 0.00
(e) Class A-5 Notes 0.00
(f) Class A-6 Notes 0.00
(g) Class A-7 Notes 0.00
(h) Class A-8 Notes 0.00
(i) Class A-9 Notes 0.00
(j) Class A-10 Notes 0.00
(k) Class B Certificates 0.00
7. Principal Distribution Cost per $1000
----------------
(a) Class A-1 Notes 362.93437580 21,594,595.36
(b) Class A-2 Notes 0.00000000 0.00
(c) Class A-3 Notes 0.00000000 0.00
(d) Class A-4 Notes 0.00000000 0.00
(e) Class A-5 Notes 0.00000000 0.00
(f) Class A-6 Notes 0.00000000 0.00
(g) Class A-7 Notes 0.00000000 0.00
(h) Class A-8 Notes 0.00000000 0.00
(i) Class A-9 Notes 0.00000000 0.00
(j) Class A-10 Notes 0.00000000 0.00
(k) Class B Certificates 0.00000000 0.00
8. Principal Balance after giving effect to Principal Distribution Pool Factor
(a) Class A-1 Notes 0.6370656 37,905,404.64
(b) Class A-2 Notes 1.0000000 119,000,000.00
(c) Class A-3 Notes 1.0000000 113,000,000.00
(d) Class A-4 Notes 1.0000000 73,000,000.00
(e) Class A-5 Notes 1.0000000 132,000,000.00
(f) Class A-6 Notes 1.0000000 88,000,000.00
(g) Class A-7 Notes 1.0000000 57,000,000.00
(h) Class A-8 Notes 1.0000000 85,000,000.00
(i) Class A-9 Notes 1.0000000 61,000,000.00
(j) Class A-10 Notes 1.0000000 65,000,000.00
(k) Class B Certificates 1.0000000 44,895,285.54
POOL DATA Aggregate
- --------------------------------
No. of Contracts Principal Balance
1. Pool Stated Principal Balance as of 9/30/97 27,905 875,800,690.18
2. Delinquency Information % Delinquent
(a) 31-59 Days 405 11,372,139.25 1.298%
(b) 60-89 Days 115 3,198,353.47 0.365%
(c) 90-119 Days 2 50,352.95 0.006%
(d) 120 Days + 0 0.00 0.000%
3. Contracts Repossessed during the Due Period 1 23,479.72
4. Current Repossession Inventory 1 23,479.72
5. Aggregate Net Losses for the preceding Collection Period
(a) Aggregate Principal Balance of Liquidated Receivables 0 0.00
(b) Net Liquidation Proceeds on any Liquidated Receivables 0.00
--------------------
Total Aggregate Net Losses for the preceding Collection Period 0.00
6. Aggregate Losses on all Liquidated Receivables (Year-To-Date) 0.00
7. Aggregate Net Losses on all Liquidated Receivables (Life-To-Date) 0 0.00
8. Weighted Average Contract Rate of all Outstanding Contracts 9.303%
9. Weighted Average Remaining Term to Maturity of all Outstanding Contracts 130.670
TRIGGER ANALYSIS
- --------------------------------
1. (a) Average Delinquency Percentage N/A
(b) Delinquency Percentage Trigger in effect ? NO
2. (a) Average Net Loss Ratio N/A
(b) Net Loss Ratio Trigger in effect ? NO
(c) Net Loss Ratio (using ending Pool Balance) N/A
3. (a) Servicer Replacement Percentage N/A
(b) Servicer Replacement Trigger in effect ? NO
MISCELLANEOUS
- --------------------------------
1. Monthly Servicing Fees 373,914.70
2. Servicer Advances 1,104,096.46
3. (a) Opening Balance of the Reserve Account 13,460,929.28
(b) Deposits to the Reserve Account 4,542,251.31
(c) Investment Earnings in the Reserve Account 12,204.47
(d) Distribution from the Reserve Account (499,371.26)
(e) Ending Balance of the Reserve Account 17,516,013.80
4. Specified Reserve Account Balance 17,516,013.80
5. (a) Opening Balance in the Pay-Ahead Account 561,500.57
(b) Deposits to the Pay-Ahead Account from the Collection Account 847,044.95
(c) Investment Earnings in the Pay-Ahead Account 0.00
(d) Transfers from the Pay-Ahead Account to the Collection Account (229,085.35)
(e) Ending Balance in the Pay-Ahead Account 1,179,460.17
</TABLE>
|
|