<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 (Date of earliest event reported):
September 15, 1999
HONDA AUTO LEASE TRUST 1999-A
(Exact name of registrant specified in its charter)
DELAWARE 333-72303 33-0846301
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation of
organization)
HONDA TITLING C L.P.
HONDA TITLING D L.P.
700 VAN NESS AVENUE
TORRANCE, CA 90501
- ------------------------------------------------- -------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (310) 781-6146
6148
<PAGE>
Item 5. Other Events
On September 15, 1999, the Principal and Interest collected during the
preceding calendar month, net of certain adjustments as provided for in the
1999-A Securitization Trust Agreement dated as of July 1, 1999 (the
"Agreement"), between Honda Titling C L.P. and Honda Titling D L.P., as
Transferors, and U.S. Bank National Association, as Owner Trustee, Wilmington
Trust Company, as Delaware Owner Trustee, and Bank of New York, as Indenture
Trustee, (together the "Trustees") were distributed to holders of Notes
("Noteholders") and certificates ("Certificateholders") representing special
units of beneficial interest ("SUBI'S") in the Honda Auto Lease Trust 1999-A
Auto Lease Asset-Backed Notes and Certificates. In accordance with the
Agreement, the Servicer's Certificate, as defined in the Agreement, was
furnished to the Indenture Trustees for distribution to the Noteholders and
Certificateholders, and as such, was distributed by the Indenture Trustees to
the Noteholders and Certificateholders. A copy of the Servicer's Certificate is
being filed as Exhibit 20 to this Current Report on Form 8-k.
Item 7 (c). Exhibits 20
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Honda Auto Lease Trust 1999-A
By: American Honda Finance Corporation, as Servicer
By:
/s/ Yoichi Kohama
Yoichi Kohama, President
<PAGE>
AMERICAN HONDA FINANCE CORPORATION
SERVICER'S Certificate - Honda Auto Lease Trust 1999-A
Distribution Date of September 15, 1999 for the
Collection Period of July 1 through August 31, 1999
<TABLE>
<S> <C>
POOL DATA - ORIGINAL DEAL PARAMETERS
- ------------------------------------
Aggregate New Investment Value (ANIV) 3,300,158,606.28
Servicer Advance -
Servicer Payahead 7,383,934.30
Number of Contracts 172,598
Weighted Average Lease Rate (Discounted) 9.05%
Weighted Average Lease Rate 6.29%
Weighted Average Remaining Term 30.48%
Servicing Fee Percentage (annual) 1.00%
POOL DATA - CURRENT MONTH
- -------------------------
Aggregate Net Investment Value 3,222,450,355.83
Number of Current Contracts 171,548
Weighted Average Lease Rate (Discounted) 9.04%
Weighted Average Lease Rate 6.29%
Weighted Average Remaining Term 28.50
- ------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C>
RESERVE FUND:
Initial Deposit Amount 115,274,540.12
Specified Reserve Fund Percentage (if Tests i, ii and iii are satisfied) 5.50%
Specified Reserve Fund Amount (if Tests i, ii and iii are satisfied) 181,145,705.90
Specified Reserve Fund Amount (if Tests i, ii or iii are not satisfied) 6.50%
Specified Reserve Fund Amount (if Tests i, ii or iii are not satisfied) 214,081,288.79
Beginning Balance 115,274,540.12
Net Investment Income Retained 772,034.93
Excess Reserve Amount Release -
Deposit Amount 14,580,564.00
Withdrawal Amount -
Ending Balance 130,627,139.05
Specified Reserve Fund Balance 181,145,705.90
Net Investment Income 772,034.93
Cumulative Withdrawal Amount -
- ------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
CREDIT LOSSES: Vehicle Count Amount
------------- ------
<S> <C> <C>
Contracts Charged-off During the Collection Period 171
Discounted Principal Balance 3,095,423.10
Net Liquidation Proceeds for the Collection Period (3,096,982.78)
Recoveries - Previously Charged-off Contracts -
Aggregate Credit Losses for the Collection Period (1,559.68)
Repossessions for the Collection Period 84
Cumulative Credit Losses for all Periods (1,559.68)
RATIO OF NET CREDIT LOSSES TO THE AVERAGE ANIV BALANCE
FOR EACH COLLECTION PERIOD:
Second Preceding Collection Period 0.00%
First Preceding Collection Period 0.00%
Current Collection Period 0.00%
TEST (i) (CHARGE-OFF RATE TEST)
- -------------------------------
Three Month Average 0.00%
Charge-off Rate Test (Test satisfied if < = 1.5%) Test Satisfied
- ----------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
DISCOUNTED
DELINQUENT CONTRACTS: PERCENT ACCOUNTS PERCENT PRINCIPAL BALANCE
------- -------- ------- -----------------
<S> <C> <C> <C> <C>
31-60 Days Delinquent 0.34% 589 0.34% 11,043,216.62
61-90 Days Delinquent 0.08% 131 0.08% 2,505,660.41
Over 90 Days Delinquent 0.01% 23 0.01% 421,592.03
Total Delinquencies 743 13,970,469.06
RATIO OF NUMBER OF CONTRACTS DELINQUENT MORE THAN 60 DAYS TO THE OUTSTANDING
NUMBER OF RECEIVABLES AS OF EACH COLLECTION PERIOD (INCLUDES REPOSSESSIONS):
Second Preceding Collection Period 0.00%
First Preceding Collection Period 0.00%
Current Collection Period 0.09%
TEST (ii) (DELINQUENCY RATE TEST)
- --------------------------------
Three Month Average 0.03%
Delinquency Rate Test (Test satisfied if < = 1.5%) Test Satisfied
- -----------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
RESIDUAL VALUE (GAIN) LOSS: Vehicles
--------
<S> <C> <C>
Matured Lease Vehicle Inventory Sold 3 35,193.94
Net Liquidation Proceeds (36,232.70)
Net Residual Value (Gain) Loss (1,038.76)
Cumulative Residual Value (Gain) Loss all periods (1,038.76)
AVERAGE AVERAGE
MATURED VEHICLES SOLD FOR NUMBER SCHEDULED SALE NET LIQUIDATION RESIDUAL
EACH COLLECTION PERIOD: SOLD MATURITIES RATIO PROCEEDS VALUE
------ ---------- ----- --------------- --------
<S> <C> <C> <C> <C> <C>
Second Preceding Collection Period 0 0 0.00% -
First Preceding Collection Period 0 0 0.00% -
Current Collection Period 3 3 100.00% 12,077.57 11,731.32
Three Month Average 4,025.86 3,910.44
---------
Ratio of Three Month Average Net Liquidation Proceeds to Average Residual Value 102.95%
- -----------------------------------------------------------------------------------------------------------------------
CURRENT PERIOD
TEST (iii) (RESIDUAL VALUE TEST) AMOUNT/RATIO TEST MET?
- ------------------------------- ------------ ---------
a) Number of Vehicles sold > 45% of Scheduled Maturities and >=500 Scheduled Maturities 100.00% Yes
b) 3 Month Average Matured Leased Vehicle Proceeds < 75% of Average Residual Values 102.95% Yes
Residual Value Test (Test satisfied if tests a and b = Yes) Test Satisfied
- -----------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
SERVICER'S FEE DUE: AMOUNT
------
<S> <C>
Prior Cumulative Servicer's Fee Shortfall -
Servicer's Fee Due This Collection Period 5,500,264.34
Servicer's Fee Paid 5,500,264.34
Current Cumulative Servicer's Fee Shortfall -
- -----------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C>
ADVANCES AND PAYAHEADS: AMOUNT
------
ADVANCES
Prior Outstanding Servicer Advances -
Net Advance/(Recovery) This Period 480,953.13
Nonrecoverable Prior Advances -
Current Outstanding Servicer Advances 480,953.13
PAYAHEAD ACCOUNT
Prior Outstanding Payahead Balance 7,383,934.30
Net Allocation/(Collections) of Advanced Payments This Period (678,556.04)
Current Outstanding Payahead Balance 8,062,490.34
- -----------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Securities Class A1 Class A2
Total Balance (99.8%) Balance Balance
----- --------------- --------- --------
<S> <C> <C> <C> <C>
COLLECTIONS:
INTEREST
Scheduled Interest Collections 44,606,933.12 44,517,719.25
Interest Related To Prepayments in Full 477,504.92 476,549.91
Interest Related to Full Term and Over Term Payoffs 9,449.00 9,430.10
Interest Related to Reallocation Payments 1,758.27 1,754.75
Excess Liquidation Proceeds 2,598.44 2,593.24
Available Interest 45,098,243.75 45,008,047.26
PRINCIPAL
Scheduled Principal Collections 58,335,954.15 58,219,282.24
Prepayments in Full 14,971,447.00 14,941,504.11
Full Term and Over Term Payoffs 427,724.86 426,869.41
Reallocation Payment 842,507.40 840,822.39
Net Liquidation Proceeds 3,130,617.04 3,124,355.81
Recoveries - -
Available Principal 77,708,250.45 77,552,833.95
WITHDRAWAL FROM RESERVE FUND -
TOTAL OF SOURCES FOR DISTRIBUTION 122,806,494.20
DISTRIBUTIONS:
INTEREST
Transferor Interest 79,195.96
Capped Trustee Fees - -
Class A Interest 23,795,502.78 23,795,502.78 2,758,800.00 2,820,000.00
Class A Interest Carryover Shortfalls - - - -
Class B Interest 560,816.67 560,816.67
Class B Interest Carryover shortfalls - -
Class C Interest 581,900.00 581,900.00
Class C Interest Carryover Shortfalls - -
Capped Contingent and Excess Liability Premiums - -
Capped Origination Trust Administrative Expenses - -
Other Capped Trustee Fees - -
Servicer's Fee 5,500,264.34 5,489,263.82
Unpaid Servicer's Fees Related to Prior Collection Periods -
Reserve Fund Deposit 14,580,564.00 14,580,564.00
Certificate Interest - -
Certificate Interest Carryover Shortfall - -
Class A Covered Loss Amount - - - -
Class A Note Principal Loss Amount/Class A Note Principal
Carryover Shortfall - - -
Class B Covered and Uncovered Loss Amount - -
Class C Covered and Uncovered Loss Amount - -
Class B Note Principal Loss Carryover Shortfall - -
Class C Note Principal Loss Carryover Shortfall - -
Class B Note Interest on Principal Loss Carryover Shortfall - -
Class C Note Interest on Principal Loss Carryover Shortfall - -
Certificate Principal Loss Amount/Certificate Principal - -
Carryover Shortfall - -
Uncapped Administrative Expenses (paid to the Trustees) - -
Excess Interest to Transferor - -
TOTAL DISTRIBUTIONS OF INTEREST 45,098,243.75 45,008,047.26 2,758,800.00 2,820,000.00
PRINCIPAL
Transferor Principal 155,416.50
Principal Distribution to A-1, A-2, A-3 and A-4 Notes 77,552,833.95 77,552,833.95 77,552,833.95 -
Principal Distribution to A-5, B and C Notes - -
Principal Distribution to Certificates - -
TOTAL DISTRIBUTIONS OF PRINCIPAL 77,708,250.45 77,552,833.95 77,552,833.95 -
NOTE/CERTIFICATE INTEREST CARRYOVER SHORTFALLS
Beginning Balance - - -
Current Period Increase (Decrease) 1,891,688.91 - -
Ending Balance 1,891,688.91 - -
NOTE/CERTIFICATE INTEREST LOSS AMOUNT
Beginning Balance - - - -
Current Period Increase (Decrease) - - - -
Ending Balance - - - -
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Class A3 Class A4 Class A5 Class B
Balance Balance Balance Balance
----- --------- --------- -------
<S> <C> <C> <C> <C>
COLLECTIONS:
INTEREST
Scheduled Interest Collections
Interest Related To Prepayments in Full
Interest Related to Full Term and Over Term Payoffs
Interest Related to Reallocation Payments
Excess Liquidation Proceeds
Available Interest
PRINCIPAL
Scheduled Principal Collections
Prepayments in Full
Full Term and Over Term Payoffs
Reallocation Payment
Net Liquidation Proceeds
Recoveries
Available Principal
WITHDRAWAL FROM RESERVE FUND
TOTAL OF SOURCES FOR DISTRIBUTION
DISTRIBUTIONS:
INTEREST
Transferor Interest
Capped Trustee Fees
Class A Interest 3,117,777.78 8,241,666.67 6,857,258.33
Class A Interest Carryover Shortfalls - - -
Class B Interest 560,816.67
Class B Interest Carryover shortfalls -
Class C Interest
Class C Interest Carryover Shortfalls
Capped Contingent and Excess Liability Premiums
Capped Origination Trust Administrative Expenses
Other Capped Trustee Fees
Servicer's Fee
Unpaid Servicer's Fees Related to Prior Collection Periods
Reserve Fund Deposit
Certificate Interest
Certificate Interest Carryover Shortfall
Class A Covered Loss Amount - - -
Class A Note Principal Loss Amount/Class A Note Principal
Carryover Shortfall -
Class B Covered and Uncovered Loss Amount -
Class C Covered and Uncovered Loss Amount
Class B Note Principal Loss Carryover Shortfall -
Class C Note Principal Loss Carryover Shortfall
Class B Note Interest on Principal Loss Carryover Shortfall -
Class C Note Interest on Principal Loss Carryover Shortfall
Certificate Principal Loss Amount/Certificate Principal
Carryover Shortfall
Uncapped Administrative Expenses (paid to the Trustees)
Excess Interest to Transferor
TOTAL DISTRIBUTIONS OF INTEREST 3,117,777.78 8,241,666.67 6,857,258.33 560,816.67
PRINCIPAL
Transferor Principal
Principal Distribution to A-1, A-2, A-3 and A-4 Notes - -
Principal Distribution to A-5, B and C Notes - -
Principal Distribution to Certificates
TOTAL DISTRIBUTIONS OF PRINCIPAL - - - -
NOTE/CERTIFICATE INTEREST CARRYOVER SHORTFALLS
Beginning Balance - - - -
Current Period Increase (Decrease) - - - -
Ending Balance - - - -
NOTE/CERTIFICATE INTEREST LOSS AMOUNT
Beginning Balance - - - -
Current Period Increase (Decrease) - - - -
Ending Balance - - - -
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Class C Certificate Transferor Interest
Balance Balance Balance
------- ---------- --------------------
<S> <C> <C> <C>
COLLECTIONS:
INTEREST
Scheduled Interest Collections 89,213.87
Interest Related To Prepayments in Full 955.01
Interest Related to Full Term and Over Term Payoffs 18.90
Interest Related to Reallocation Payments 3.52
Excess Liquidation Proceeds 5.20
Available Interest 90,196.49
PRINCIPAL
Scheduled Principal Collections 116,671.91
Prepayments in Full 29,942.89
Full Term and Over Term Payoffs 855.45
Reallocation Payment 1,685.01
Net Liquidation Proceeds 6,261.23
Recoveries -
Available Principal 155,416.50
WITHDRAWAL FROM RESERVE FUND
TOTAL OF SOURCES FOR DISTRIBUTION
DISTRIBUTIONS:
INTEREST
Transferor Interest 79,195.96
Capped Trustee Fees
Class A Interest
Class A Interest Carryover Shortfalls
Class B Interest
Class B Interest Carryover shortfalls
Class C Interest 581,900.00
Class C Interest Carryover Shortfalls -
Capped Contingent and Excess Liability Premiums
Capped Origination Trust Administrative Expenses
Other Capped Trustee Fees
Servicer's Fee 11,000.53
Unpaid Servicer's Fees Related to Prior Collection Periods -
Reserve Fund Deposit
Certificate Interest -
Certificate Interest Carryover Shortfall -
Class A Covered Loss Amount
Class A Note Principal Loss Amount/Class A Note Principal
Carryover Shortfall
Class B Covered and Uncovered Loss Amount
Class C Covered and Uncovered Loss Amount -
Class B Note Principal Loss Carryover Shortfall
Class C Note Principal Loss Carryover Shortfall -
Class B Note Interest on Principal Loss Carryover Shortfall
Class C Note Interest on Principal Loss Carryover Shortfall -
Certificate Principal Loss Amount/Certificate Principal
Carryover Shortfall -
Uncapped Administrative Expenses (paid to the Trustees)
Excess Interest to Transferor -
TOTAL DISTRIBUTIONS OF INTEREST 581,900.00 - 90,196.49
PRINCIPAL
Transferor Principal 155,416.50
Principal Distribution to A-1, A-2, A-3 and A-4 Notes
Principal Distribution to A-5, B and C Notes -
Principal Distribution to Certificates -
TOTAL DISTRIBUTIONS OF PRINCIPAL - - 155,416.50
NOTE/CERTIFICATE INTEREST CARRYOVER SHORTFALLS
Beginning Balance - -
Current Period Increase (Decrease) - 1,891,688.91
Ending Balance - 1,891,688.91
NOTE/CERTIFICATE INTEREST LOSS AMOUNT
Beginning Balance - - -
Current Period Increase (Decrease) - - -
Ending Balance - - -
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------------------
Securities Class A1 Class A2
Total Balance (99.8%) Balance Balance
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
TOTAL DISTRIBUTIONS TO NOTHEHOLDERS AND
CERTIFICATE HOLDERS:
Interest Distributions 45,098,243.75 45,008,047.26 2,758,800.00 2,820,000.00
Principal Distributions 77,708,250.45 77,552,833.95 77,552,833.95 -
Total Distributions 122,806,494.20 122,560,881.21 80,311,633.95 2,820,000.00
ORIGINAL DEAL PARAMETER
- -----------------------
Agregate Net Investment Value (ANIV) 3,300,158,606.28
Initial Note/Certificate Balance 3,293,558,289.00 380,000,000.00 360,000,000.00
Percent of ANIV 99.80% 11.51% 10.91%
Class Allocation Percentage 12.89% 12.22%
Note/Certificate Factor 1.00 1.00
Note/Certificate Rate 5.445% 5.875%
Servicer Advance 7,383,934.30
Servicer Payahead 172,598
Number of Contracts 6.29%
Weighted Average Lease Rate 9.05%
Weighted Average Lease Rate (Discounted) 30.48%
Weighted Average Remaining Term 1.00%
Servicing Fee Percentage
POOL DATA PRIOR MONTH
- ---------------------
Aggregate Net Investment Value (ANIV) 3,300,158,606.28
Note/Certificate Balance 3,293,558,289.00 380,000,000.00 360,000,000.00
Percent of ANIV 99.80% 11.51% 10.91%
Class Allocation Percentage 12.89% 12.22%
Note/Certificate Factor 1.00 1.00
Servicer Advance 7,383,934.30
Servicer Payahead 172,598
Number of Contracts 6.29%
Weighted Average Lease Rate 9.05%
Weighted Average Lease Rate (Discounted) 30.48%
Weighted Average Remaining Term 1.00%
Servicing Fee Percentage
Number of Days in the Accrual Period 0 0
POOL DATA CURRENT MONTH
- -----------------------
Aggregate Net Investment Value (ANIV) 3,222,450,355.83
Note/Certificate Balance 3,216,005,455.05 302,447,166.05 360,000,000.00
Percent of ANIV 99.80% 9.39% 11.17%
Class Allocation Percentage 10.54% 12.55%
Note/Certificate Factor 0.80 1.00
Servicer Advance (480,953.13)
Servicer Payahead 8,062,490.34
Number of Contracts 171,548
Weighted Average Lease Rate 6.29%
Weighted Average Lease Rate (Discounted) 9.04%
Weighted Average Remaining Term 28.50%
Servicing Fee Percentage 1.00%
Number of Days in the Accrual Period 48 48
- ---------------------------------------------------------------------------------------------------------------------
Class A3 Class A4 Class A5
Balance Balance Balance
- ---------------------------------------------------------------------------------------------------------------------
TOTAL DISTRIBUTIONS TO NOTHEHOLDERS AND
CERTIFICATE HOLDERS:
Interest Distributions 3,117,777.78 8,241,666.67 6,857,258.33
Principal Distributions - - -
Total Distributions 3,117,777.78 8,241,666.67 6,857,258.33
ORIGINAL DEAL PARAMETER
- -----------------------
Agregate Net Investment Value (ANIV)
Initial Note/Certificate Balance 400,000,000.00 1,000,000,000.00 807,000,000.00
Percent of ANIV 12.12% 30.30% 24.45%
Class Allocation Percentage 13.57% 33.93% 27.38%
Note/Certificate Factor 1.00 1.00 1.00
Note/Certificate Rate 6.100% 6.450% 6.650%
Servicer Advance
Servicer Payahead
Number of Contracts
Weighted Average Lease Rate
Weighted Average Lease Rate (Discounted)
Weighted Average Remaining Term
Servicing Fee Percentage
POOL DATA PRIOR MONTH
- ---------------------
Aggregate Net Investment Value (ANIV)
Note/Certificate Balance 400,000,000.00 1,000,000,000.00 807,000,000.00
Percent of ANIV 12.12% 30.30% 24.45%
Class Allocation Percentage 13.57% 33.93% 27.38%
Note/Certificate Factor 1.00 1.00 1.00
Servicer Advance
Servicer Payahead
Number of Contracts
Weighted Average Lease Rate
Weighted Average Lease Rate (Discounted)
Weighted Average Remaining Term
Servicing Fee Percentage
Number of Days in the Accrual Period 0 0 0
POOL DATA CURRENT MONTH
- -----------------------
Aggregate Net Investment Value (ANIV)
Note/Certificate Balance 400,000,000.00 1,000,000,000.00 807,000,000.00
Percent of ANIV 12.41% 31.03% 25.04%
Class Allocation Percentage 13.94% 34.85% 28.12%
Note/Certificate Factor 1.00 1.00 1.00
Servicer Advance
Servicer Payahead
Number of Contracts
Weighted Average Lease Rate
Weighted Average Lease Rate (Discounted)
Weighted Average Remaining Term
Servicing Fee Percentage
Number of Days in the Accrual Period 46 46 46
- ----------------------------------------------------------------------------------------------------------------------------------
Class B Class C Certificate Transferor Interest
Balance Balance Balance Balance
- ----------------------------------------------------------------------------------------------------------------------------------
TOTAL DISTRIBUTIONS TO NOTHEHOLDERS AND
CERTIFICATE HOLDERS:
Interest Distributions 560,816.67 581,900.00 - 90,196.49
Principal Distributions - - - 155,416.50
Total Distributions 560,816.67 581,900.00 - 245,612.99
ORIGINAL DEAL PARAMETER
- -----------------------
Agregate Net Investment Value (ANIV)
Initial Note/Certificate Balance 66,000,000.00 66,000,000.00 214,558,289.00 6,600,317.28
Percent of ANIV 2.00% 2.00% 6.50% 0.20%
Class Allocation Percentage 100.00% 100.00% 100.00%
Note/Certificate Factor 1.00 1.00 1.00
Note/Certificate Rate 6.650% 6.650% 6.900%
Servicer Advance
Servicer Payahead
Number of Contracts
Weighted Average Lease Rate
Weighted Average Lease Rate (Discounted)
Weighted Average Remaining Term
Servicing Fee Percentage
POOL DATA PRIOR MONTH
- ---------------------
Aggregate Net Investment Value (ANIV)
Note/Certificate Balance 66,000,000.00 66,000,000.00 214,558,289.00 6,600,317.28
Percent of ANIV 2.00% 2.00% 6.50% 0.20%
Class Allocation Percentage 100.00% 100.00% 100.00%
Note/Certificate Factor 1.00 1.00 1.00
Servicer Advance
Servicer Payahead
Number of Contracts
Weighted Average Lease Rate
Weighted Average Lease Rate (Discounted)
Weighted Average Remaining Term
Servicing Fee Percentage
Number of Days in the Accrual Period 0 0 0
POOL DATA CURRENT MONTH
- -----------------------
Aggregate Net Investment Value (ANIV)
Note/Certificate Balance 66,000,000.00 66,000,000.00 214,558,289.00 6,444,900.78
Percent of ANIV 2.05% 2.05% 6.68% 0.20%
Class Allocation Percentage 100.00% 100.00% 100.00%
Note/Certificate Factor 1.00 1.00 1.00
Servicer Advance
Servicer Payahead
Number of Contracts
Weighted Average Lease Rate
Weighted Average Lease Rate (Discounted)
Weighted Average Remaining Term
Servicing Fee Percentage
Number of Days in the Accrual Period 46 46 46
</TABLE>
I hereby certify to the best of my knowledge that
the report provided is true and correct
/s/ Yoichi Kohama
- --------------------------------------
Yoichi Kohama, President
