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Previous: ADVANTA BUSINESS SERVICES CORP, 8-K, 2000-12-15 |
Next: ADVANTA BUSINESS SERVICES CORP, 8-K, 2000-12-15 |
<PAGE> 1
ASSET-BACKED FINANCING FACILITY
ADVANTA BUSINESS SERVICES CORP., AS SERVICER
MONTHLY SERVICER CERTIFICATE
COLLECTION PERIOD: November 1, 2000 - November 30, 2000
------------------------------------
SETTLEMENT DATE: 15-Dec-00
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A. SERIES INFORMATION
ADVANTA LEASING RECEIVABLES CORP. IV AND
ADVANTA LEASING RECEIVABLES CORP. V
EQUIPMENT RECEIVABLES ASSET-BACKED NOTES,
SERIES 1998-1
I. SERIES INFORMATION INCLUDING PLEDGED PROPERTY CONVEYED
(a.) Beginning Aggregate Contract Principal Balance ("ACPB") .......................................... $104,800,653.46
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(b.) Contract Principal Balance of all Collections allocable
to Contracts ................................................................. $7,097,511.78
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(c.) Contract Principal Balance of Charged-Off Contracts .......................... $286,647.35
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(d.) Total decline in Principal Balance ................................................................ $7,384,159.13
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(e.) Ending Aggregate Contract Principal Balance of
all Contracts as of this Settlement Date .................................... $97,416,494.33
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BALANCES ON THIS SETTLEMENT DATE AFTER PAYMENT ON THE
RELATED PAYMENT DATE
(f.) Class A Principal Balance as of this Settlement Date ......................... $86,038,178.04
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(Class A Note Factor).......... 0.25977711
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(g1.) Class A-1 Principal Balance
(Note Factor)................ 0.0000000 $ -
---------- ---------------
(g2.) Class A-2 Principal Balance
(Note Factor)................ 0.0886220 ................................. $16,838,178.04
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(g3.) Class A-3 Principal Balance
(Note Factor) 1.0000000 .................................. $23,300,000.00
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(g4.) Class A-4 Principal Balance
(Note Factor) 1.0000000 .................................. $45,900,000.00
---------- --------------
(h.) Class B Principal Balance as of this Settlement Date............................................. $1,853,305.65
--------------
(Class B Note Factor) 0.0978617
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(i.) Class C Principal Balance as of this Settlement Date .............................................. $ -
-------------
(Class C Note Factor) 0.0000000
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(l.) Class D Principal Balance as of this Settlement Date ............................................ $9,525,010.64
--------------
(Class D Note Factor) 0.6349878
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II. COMPLIANCE RATIOS
(a.) Aggregate Contract Balance Remaining ("CBR") of all
Contracts as of the related Calculation Date ................................ $104,394,859.67
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(b1.) % of CBR 31 days or more delinquent as of the related
Calculation Date ........................................................ 5.35%
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(b2.) Preceeding Month %: Oct-00 ..................................... 5.09%
------- ---------------
(b3.) 2nd Preceeding Month %: Sep-00 6.70%
------- .................................... ---------------
(b4.) Three month rolling average % of CBR 31 days or more delinquent ................................. 5.72%
---------------
(c.) Does the three month rolling average % of CBR which are 31 days
or more delinquent exceed 10.5%? Y or N. ............................... NO
---------------
(Amortization Period Only)
(d.) Cumulative Net Loss Percentage as of the related Collection
Period ...................................................................... 2.83%
---------------
(d1.) Does the Cumulative Net Loss Percentage exceed
4.0 % from the Beginning Period to and including 12th
Collection Period? Y or N ................................................ N/A
---------------
(d2.) 5.5 % from 13th Collection Period to and including 24th
Collection Period? Y or N ................................................... NO
---------------
(d3.) 7.0 % from 25th Collection Period and thereafter ? Y or N .................... N/A
(If Yes to e1 or e2 or e3, then a Residual Event occurs)
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(e1.) Residual Realization for the related Collection Period > 100% (YES/NO) ...... YES
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(e2.) Preceeding Month: Oct-00 > 100% (YES/NO) .................... YES
------- ---------------
(e3.) 2nd Preceeding Month: Sep-00 > 100% (YES/NO) .................... YES
------- ---------------
(e4.) Three month rolling average Residual Realization Ratio > 100% (YES/NO) ...... YES
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(If less than 100%, then a Residual Event Occurs)
III. FLOW OF FUNDS
The amount of available funds on deposit in the Series
1998-1 Facility Account .................................................... $8,769,153.16
---------------
(1) On the Payment Date which is also the Amortization
Date and each Payment Date thereafter
(a.) To the Servicer, Unrecoverable Servicer Advances ............................. -
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(b.) To the Servicer, if ABS is not the Servicer, Servicing Fee and Ancillary
Servicing Income, if any .....................................................
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To Series 1998-1 Noteholders:
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(c.) To Class A, the total Class A Note Interest and Class A Overdue Interest
for the related period .................................................. $457,171.16
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Interest on Class A-1 Notes ................................ $ -
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Interest on Class A-2 Notes ................................ $113,295.33
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Interest on Class A-3 Notes ................................ $115,140.83
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Interest on Class A-4 Notes ................................ $228,735.00
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(d.) Interest on Class B Notes for the related period ............................. $13,805.22
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(e.) Interest on Class C Notes for the related period ............................. $ -
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(f.) To Series 1998-1 Noteholders:
To Class A, the total Principal Payment and Class A
Overdue Principal, if any ................................................ 6,521,684.06
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Principal Payment to Class A-1 Noteholders ................. N/A
-------------
Principal Payment to Class A-2 Noteholders ................. $6,521,684.06
-------------
Principal Payment to Class A-3 Noteholders ................. N/A
-------------
Principal Payment to Class A-4 Noteholders ................. N/A
-------------
To Class B for Principal Payment and Overdue Principal, if any ............................... 862,475.07
-------------
To Class C for Principal Payment and Overdue Principal, if any ............................... -
-------------
(g) Overdue Principal (included in the Principal
Payments per above, if any):
To Class A, total for Overdue Principal ...................................... N/A
-------------
Overdue Principal to Class A-1 N/A
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Overdue Principal to Class A-2 N/A
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Overdue Principal to Class A-3 N/A
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Overdue Principal to Class A-4 N/A
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To Class B for Overdue Principal ............................................. N/A
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To Class C for Overdue Principal ............................................. N/A
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(h1.) Until the Reserve Account Funding Date:
To the Reserve Account, the amount equal to the
Servicing Fee otherwise payable to ABS ................................. N/A
-------------
(h2.) After the Reserve Account Funding Date:
To the Servicer, ABS, the Servicing Fee plus Ancillary
Servicing Income, if any ................................................ 87,333.88
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(i.) To the Reserve Account, the amount needed to increase the
amount on deposit in the Reserve Account to
the Required Reserve Amount for such Payment Date ............................ N/A
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(j.) Upon the occurrence of a Residual Event the lesser of:
(j1.) (A) the Available Funds remaining on deposit in the Facility
Account and ............................................................. N/A
(j2.) (B) the aggregate amount of Residual Receipts -------------
included in Available Funds ............................................. N/A
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(j3.) To be deposited to the Residual Account ...................................... N/A
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(k.) To Class D Noteholders for Principal Payment ................................. -
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(l.) To Class D Noteholders for Overdue Principal, if any ......................... N/A
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(3) To ABS, the Servicing Fee previously due, but deposited
to the Reserve Account .................................................. $ -
-------------
(4) To the Trustee to Fund the Servicer Conversion Expense Account ...............
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(5) To the Series Obligors, as holders of the Residual Interest,
any Available Funds remaining on deposit
in the Facility Account ................................................. $826,683.77
-------------
IV. SERVICER ADVANCES
(a.) Aggregate amount of Servicer Advances at the beginning
of the related Collection Period ........................................ 1,712,708.14
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(b.) Servicer Advances reimbursed during the related Collection Period ............ 53,011.64
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(c.) Amount of unreimbursed Servicer Advances to be reimbursed on the
Settlement Date .............................................................. -
-------------
(d.) Servicer Advances made during the related Collection Period .................. 161,731.48
-------------
(e.) Aggregate amount of Servicer Advances at the end of the
Collection Period ............................................................ $1,821,427.98
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V. RESERVE ACCOUNT
(a.) Amount on deposit at the beginning of the related Collection Period .......... $3,600,000.00
-------------
(b.) Amounts used to cover shortfalls, if any, for the related
Collection Period .......................................................... $ -
-------------
(c.) Amounts transferred from the Facility Account, if applicable ................. $ -
-------------
(d.) Interest earned on Reserve Balance ........................................... $18,783.99
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(e.) Reserve Account Ending Balance before calculating Required
Reserve Amount ............................................................ $3,618,783.99
-------------
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(f.) Required Reserve Amount needed as of the related Collection
Period ..................................................................... $ -
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(g1.) If (f) is greater than (e), then amount of shortfall ......................... 0.00
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(g2.) If (e) is greater than (f), then excess amount to be transferred
to the Series Obligors ..................................................... 3,618,783.99
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(h.) Amounts on deposit as of this Settlement Date (e minus g2) ................... $ -
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VI. RESIDUAL ACCOUNT
(a.) Amount on deposit at the beginning of the related Collection
Period ................................................................. 0.00
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(b.) Amounts transferred from the Facility Account ................................ 0.00
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(c.) Amounts used to cover shortfalls for the related Collection
Period .................................................................. 0.00
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(d.) Amount on deposit as of this Settlement Date ................................. 0.00
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VII. ADDITIONAL PROPERTY FUNDING ACCOUNT
(a.) Amount on deposit at the beginning of the
related Collection Period .................................................... 0.00
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(b.) Amounts transferred from the Facility Account ................................ 0.00
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(c.) Amounts transferred to the Series Obligors ................................... 0.00
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(d.) Amount on deposit as of this Settlement Date ................................. 0.00
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VIII. ADVANCE PAYMENTS
(a.) Beginning aggregate Advance Payments ......................................... $1,943,114.94
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(b.) Amount of Advance Payments collected during the related
Collection Period .......................................................... $1,020,145.06
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(c.) Investment earnings for the related Collection Period ........................ $11,785.13
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(d.) Amount of Advance Payments withdrawn for deposit into
Facility Account ........................................................ $1,388,179.86
-------------
(e.) Ending aggregate Advance Payments ............................................ $1,586,865.27
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ADVANTA BUSINESS SERVICES CORP., AS SERVICER
BY: /s/ John Paris
-------------------------
TITLE: SR VP
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DATE: 12/12/00
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