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Previous: DVI RECEIVABLES CORP VIII, 8-K, EX-99.2, 2000-08-03 |
Next: ROSETTA INPHARMATICS INC, S-1MEF, 2000-08-03 |
<PAGE> 1
DVI RECEIVABLES XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE JULY 14, 2000
<TABLE>
<S> <C>
I. RECONCILIATION OF COLLECTION ACCOUNT:
End of Period Collection Account Balance as of Prior Payment Date: 616,841.38
Available Funds:
Contract Payments due and received in this period 4,641,288.63
Contract Payments due in prior period(s) and received in this period 382,595.82
Contract Payments received in this period for next period 194,572.27
Sales, Use and Property Tax, Maintenance, Late Charges 143,922.50
Prepayment Amounts related to early termination in this period 579,090.49
Servicer Advance 912,945.35
Proceeds received from recoveries on previously Defaulted Contracts 0.00
Transfer from Reserve Account 14,630.18
Interest earned on Collection Account 30,527.85
Interest earned on Affiliated Account 6,562.50
Proceeds from repurchase of Contracts per Contribution and Servicing
Agreement Section 5.03 0.00
Amounts paid per Contribution and Servicing Agreement Section 7.01
(Substituted contract < Predecessor contract) 0.00
Amounts paid under insurance policies 0.00
Any other amounts 0.00
-------------
Total Available Funds 7,522,976.97
Less: Amounts to be Retained in Collection Account 585,960.93
-------------
AMOUNT TO BE DISTRIBUTED 6,937,016.04
=============
DISTRIBUTION OF FUNDS:
1. To Trustee - Fees 0.00
2. To Servicer, any unreimbursed Nonrecoverable Advances or Servicer Advances 382,595.82
3. To Noteholders (For Servicer Report immediately following the Final
Additional Closing Date)
a) Class A1 Principal and Interest 3,927,712.84
a) Class A2 Principal (distributed after A1 Note matures) and Interest 236,112.50
a) Class A3 Principal (distributed after A2 Note matures) and Interest 522,208.33
a) Class A4 Principal (distributed after A3 Note matures) and Interest 619,968.75
b) Class B Principal and Interest 91,475.88
c) Class C Principal and Interest 183,681.43
d) Class D Principal and Interest 124,768.45
e) Class E Principal and Interest 170,067.00
4. To Reserve Account for Requirement per Indenture Agreement Section 3.08 0.00
5. To Issuer - Residual Principal and Interest and Reserve Account Distribution
a) Residual Interest (Provided no Restricting or Amortization Event in effect) 247,454.77
b) Residual Principal (Provided no Restricting or Amortization Event in effect) 126,839.57
c) Reserve Account Distribution (Provided no Restricting or Amortization
Event in effect) 14,630.18
6. To Servicer, Tax, Maintenance, Late Charges and Bank Interest Earned and Any
Other Amounts 181,012.85
7. To Servicer, Servicing Fee and other Servicing Compensations 108,487.67
-------------
TOTAL FUNDS DISTRIBUTED 6,937,016.04
=============
-------------
End of Period Collection Account Balance {Includes Payments in Advance & Restricting
Event Funds (if any)} 585,960.93
=============
II. RESERVE ACCOUNT
Beginning Balance $2,925,289.09
- Add Investment Earnings 14,630.18
- Add Transfer from Certificate Account (To Satisfy Reserve Account Requirement) 0.00
- Less Distribution to Certificate Account 14,630.18
-------------
End of period balance $2,925,289.09
=============
Reserve Account Requirement (Lesser of: (i) Initial Reserve Account Required Amount, or
(ii) Sum of Class A, Class B, Class C, Class D, and Class E Note Balances $2,925,289.09
=============
</TABLE>
<PAGE> 2
DVI RECEIVABLES XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE JULY 14, 2000
<TABLE>
<S> <C> <C>
III. CLASS A NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class A Notes
Pool A 176,621,821.20
Pool B 77,962,130.25
--------------
254,583,951.45
Class A Overdue Interest, if any 0.00
Class A Monthly Interest - Pool A 1,099,880.23
Class A Monthly Interest - Pool B 485,494.97
Class A Overdue Principal, if any 0.00
Class A Monthly Principal - Pool A 1,669,341.13
Class A Monthly Principal - Pool B 2,051,286.09
--------------
3,720,627.22
Ending Principal Balance of the Class A Notes
Pool A 174,952,480.07
Pool B 75,910,844.16
-------------- --------------
250,863,324.23
==============
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $257,425,000 Original Face $257,425,000 Balance Factor
<S> <C> <C>
$ 6.158591 $ 14.453247 97.451034%
---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C>
IV. CLASS A NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class A Notes
Class A1 36,958,951.45
Class A2 39,000,000.00
Class A3 83,000,000.00
Class A4 95,625,000.00
--------------
Class A Monthly Interest 254,583,951.45
Class A1 (Actual Number Days/360) 207,085.62
Class A2 259,723.75
Class A3 574,429.17
Class A4 681,965.63
--------------
Class A Monthly Principal
Class A1 3,720,627.22
Class A2 0.00
Class A3 0.00
Class A4 0.00
--------------
3,720,627.22
Ending Principal Balance of the Class A Notes
Class A1 33,238,324.23
Class A2 39,000,000.00
Class A3 83,000,000.00
Class A4 95,625,000.00
--------------- --------------
250,863,324.23
==============
</TABLE>
<TABLE>
<CAPTION>
Class A1
---------------------------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $39,800,000 Original Face $39,800,000 Balance Factor
<S> <C> <C>
$ 5.203156 $ 93.483096 83.513377%
---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 3
DVI RECEIVABLES XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE JULY 14, 2000
<TABLE>
<S> <C> <C>
V. CLASS B NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class B Notes
Pool A 3,009,959.08
Pool B 1,328,613.96
------------
4,338,573.04
Class B Overdue Interest, if any 0.00
Class B Monthly Interest - Pool A 19,464.40
Class B Monthly Interest - Pool B 8,591.70
Class B Overdue Principal, if any 0.00
Class B Monthly Principal - Pool A 28,454.68
Class B Monthly Principal - Pool B 34,965.10
------------
63,419.78
Ending Principal Balance of the Class B Notes
Pool A 2,981,504.40
Pool B 1,293,648.86
------------ ------------
4,275,153.26
============
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $4,387,000 Original Face $4,387,000 Balance Factor
<S> <C> <C>
$ 6.395282 $ 14.456298 97.450496%
-----------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C>
VI. CLASS C NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class C Notes
Pool A 6,020,609.36
Pool B 2,657,536.71
-------------
8,678,146.07
Class C Overdue Interest, if any 0.00
Class C Monthly Interest - Pool A 39,434.99
Class C Monthly Interest - Pool B 17,406.87
Class C Overdue Principal, if any 0.00
Class C Monthly Principal - Pool A 56,909.36
Class C Monthly Principal - Pool B 69,930.21
-------------
126,839.57
Ending Principal Balance of the Class C Notes
Pool A 5,963,700.00
Pool B 2,587,606.50
------------- ------------
8,551,306.50
============
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $8,775,000 Original Face $8,775,000 Balance Factor
<S> <C> <C>
$ 6.477705 $ 14.454652 97.450786%
-----------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 4
DVI RECEIVABLES XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE JULY 14, 2000
<TABLE>
<S> <C> <C>
VII. CLASS D NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class D Notes
Pool A 4,013,739.57
Pool B 1,771,691.14
------------
5,785,430.71
Class D Overdue Interest, if any 0.00
Class D Monthly Interest - Pool A 27,895.49
Class D Monthly Interest - Pool B 12,313.25
Class D Overdue Principal, if any 0.00
Class D Monthly Principal - Pool A 37,939.57
Class D Monthly Principal - Pool B 46,620.14
------------
84,559.71
Ending Principal Balance of the Class D Notes
Pool A 3,975,800.00
Pool B 1,725,071.00
------------ ------------
5,700,871.00
============
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $5,850,000 Original Face $5,850,000 Balance Factor
<S> <C> <C>
$ 6.873289 $ 14.454651 97.450786%
-----------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C>
VIII. CLASS E NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class E Notes
Pool A 5,017,520.07
Pool B 2,214,768.33
-------------
7,232,288.40
Class E Overdue Interest, if any 0.00
Class E Monthly Interest - Pool A 44,655.93
Class E Monthly Interest - Pool B 19,711.44
Class E Overdue Principal, if any 0.00
Class E Monthly Principal - Pool A 47,424.46
Class E Monthly Principal - Pool B 58,275.17
-------------
105,699.63
Ending Principal Balance of the Class E Notes
Pool A 4,970,095.61
Pool B 2,156,493.16
-------------
------------
7,126,588.77
============
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $7,313,000 Original Face $7,313,000 Balance Factor
<S> <C> <C>
$ 8.801774 $ 14.453662 97.450961%
-----------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 5
DVI RECEIVABLES XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE JULY 14, 2000
<TABLE>
<S> <C> <C>
IX. ISSUERS RESIDUAL PRINCIPAL BALANCE
Beginning Residual Principal Balance
Pool A 6,023,311.55
Pool B 2,658,743.95
------------
8,682,055.50
Residual Interest - Pool A 187,628.37
Residual Interest - Pool B 59,826.40
Residual Principal - Pool A 56,909.36
Residual Principal - Pool B 69,930.21
------------
126,839.57
Ending Residual Principal Balance
Pool A 5,966,402.19
Pool B 2,588,813.74
------------
------------
8,555,215.93
============
X. PAYMENT TO SERVICER
- Collection period Servicer Fee 108,487.67
- Servicer Advances reimbursement 382,595.82
- Tax, Maintenance, Late Charges, Bank Interest and other amounts 181,012.85
------------
Total amounts due to Servicer 672,096.34
============
</TABLE>
<PAGE> 6
DVI RECEIVABLES XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE JULY 14, 2000
<TABLE>
<S> <C> <C>
XI. AGGREGATE DISCOUNTED CONTRACT BALANCE
POOL A
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the
beginning of the related Collection Period 200,706,960.84
Aggregate Discounted Contract Balance of Additional Contracts acquired during
Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 1,896,978.56
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the --------------
ending of the related Collection Period 198,809,982.28
==============
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 1,829,892.83
- Principal portion of Prepayment Amounts 67,085.73
- Principal portion of Contracts repurchased under Indenture Agreement
Section 4.02 0.00
- Aggregate Discounted Contract Balance of Contracts that have become Defaulted
Contracts during the Collection Period 0.00
- Aggregate Discounted Contract Balance of Substitute Contracts added during
Collection Period 0.00
- Aggregate Discounted Contract Balance of Predecessor Contracts withdrawn
during Collection Period 0.00
------------
Total Decline in Aggregate Discounted Contract Balance 1,896,978.56
============
POOL B
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the
beginning of the related Collection Period 88,593,484.33
Aggregate Discounted Contract Balance of Additional Contracts acquired during
Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 2,331,006.92
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the --------------
ending of the related Collection Period 86,262,477.41
==============
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 1,822,749.12
- Principal portion of Prepayment Amounts 508,257.80
- Principal portion of Contracts repurchased under Indenture Agreement Section 4.02 0.00
- Aggregate Discounted Contract Balance of Contracts that have become Defaulted
Contracts during the Collection Period 0.00
- Aggregate Discounted Contract Balance of Substitute Contracts added during
Collection Period 0.00
- Aggregate Discounted Contract Balance of Predecessor Contracts withdrawn
during Collection Period 0.00
------------
Total Decline in Aggregate Discounted Contract Balance 2,331,006.92
============
--------------
AGGREGATE DISCOUNTED CONTRACT BALANCE AT THE END OF THE RELATED COLLECTION PERIOD 285,072,459.69
==============
</TABLE>
<PAGE> 7
DVI RECEIVABLES XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE JULY 14, 2000
XIII. CUMULATIVE DETAIL OF SUBSTITUTED CONTRACTS - PREPAYMENTS
<TABLE>
<CAPTION>
POOL A Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
--------------------------------------------------- --------------- ------------ ---------------
<S> <C> <C> <C> <C>
None
--------------- ---------------
Totals: $0.00 $0.00
a) DISCOUNTED CONTRACT BALANCES OF ALL PREPAID
CONTRACTS $0.00
b) ADCB OF POOL A AT CLOSING DATE $202,195,615.75
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL) 0.00%
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per Contribution &
Servicing Agreement Section 7.02 $0.00
CHANGE IN ANY OF THE ABOVE DETAIL DURING THE RELATED COLLECTION PERIOD YES NO X
-------------- -------------
</TABLE>
<TABLE>
<CAPTION>
POOL B Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
--------------------------------------------------- --------------- ------------ ---------------
<S> <C> <C> <C> <C>
None
--------------- ---------------
Totals: $0.00 $0.00
a) DISCOUNTED CONTRACT BALANCES OF ALL PREPAID
CONTRACTS $0.00
b) ADCB OF POOL B AT CLOSING DATE $90,333,293.68
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL UNLESS
RATING AGENCY APPROVES) 0.00%
* ANY CONTRACT DELINQUENT > 60 DAYS OR HAS DEFAULTED (>180 DAYS), THE SERVICER
HAS FAILED TO ADVANCE, OR A BANKRUPTCY PETITION HAS BEEN FILED
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per
Contribution & Servicing Agreement Section 7.02 $0.00
CHANGE IN ANY OF THE ABOVE DETAIL DURING THE RELATED COLLECTION PERIOD YES NO X
-------------- ------------
</TABLE>
<PAGE> 8
DVI RECEIVABLES XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE JULY 14, 2000
XIV. CUMULATIVE DETAIL OF SUBSTITUTED CONTRACTS - NON-PERFORMING (POOL A)
& GENERAL RIGHTS (POOL B)
<TABLE>
<CAPTION>
POOL A - NON-PERFORMING Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
--------------------------------------------------- --------------- ------------ ---------------
<S> <C> <C> <C> <C>
None
--------------- ---------------
Totals: $0.00 $0.00
a) DISCOUNTED CONTRACT BALANCES OF ALL NON-PERFORMING
CONTRACTS 0.00
b) ADCB OF POOL A AT CLOSING DATE $202,195,615.75
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL) 0.00%
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per
Contribution & Servicing Agreement Section 7.02 $0.00
CHANGE IN ANY OF THE ABOVE DETAIL DURING THE RELATED COLLECTION PERIOD YES NO X
-------------- ---------------
</TABLE>
<TABLE>
<CAPTION>
POOL B - GENERAL CONTRACT SUBSTITUTION RIGHTS Predecessor
Discounted Predecessor Discounted
Lease # Lessee Name Present Value Lease # Present Value
--------------------------------------------------- --------------- ------------ ---------------
<S> <C> <C> <C> <C>
None
--------------- ---------------
Totals: $0.00 $0.00
a) DISCOUNTED CONTRACT BALANCES OF ALL CONTRACTS
SUBSTITUTED $0.00
b) ADCB OF POOL B AT CLOSING DATE $90,333,293.68
c) (CANNOT EXCEED 10% OVER THE LIFE OF THE POOL) 0.00%
* ANY CONTRACT DELINQUENT > 60 DAYS OR HAS DEFAULTED (> 180 DAYS), THE SERVICER
HAS DECLINED TO ADVANCE OR A BANKRUPTCY PETITION HAS BEEN FILED.
DATA FOR CURRENT REPORTING PERIOD SUBSTITUTIONS
a) Total discounted Contract Balance of Predecessor Receivables $0.00
b) Total discounted Contract Balance of Substitute Receivables $0.00
c) If (a) > (b), amount to be deposited in Collection Account per
Contribution & Servicing Agreement Section 7.02 $0.00
CHANGE IN ANY OF THE ABOVE DETAIL DURING THE RELATED COLLECTION PERIOD YES NO X
-------------- -------------
</TABLE>
<PAGE> 9
DVI RECEIVABLES XI, L.L.C. 2000-1
SERVICER REPORT
FOR THE PAYMENT DATE JULY 14, 2000
XV. POOL PERFORMANCE MEASUREMENTS
1. AGGREGATE DISCOUNTED CONTRACT BALANCE
<TABLE>
<CAPTION>
CONTRACTS DELINQUENT > 90 DAYS TOTAL OUTSTANDING CONTRACTS
<S> <C> <C> <C>
This Month 92,811.67 This Month 285,072,459.69
1 Month Prior 130,153.43 1 Month Prior 289,300,445.17
2 Months Prior 0.00 2 Months Prior 292,528,909.43
Total 222,965.10 Total 866,901,814.29
a) 3 MONTH AVERAGE 74,321.70 b) 3 MONTH AVERAGE 288,967,271.43
c) a/b 0.03%
</TABLE>
<TABLE>
<S> <C> <C>
2. Does a Delinquency Condition Exist (1c > 6%)?
Yes No X
------------- -------------
3. Restricting Event Check
A. A Delinquency Condition exists for current period? Yes No X
------------- -------------
B. An Indenture Event of Default has occurred and is then continuing? Yes No X
------------- -------------
4. Has a Servicer Event of Default occurred? Yes No X
------------- -------------
5. Amortization Event Check
A. Is 1c > 8% ? Yes No X
------------- -------------
B. Bankruptcy, insolvency, reorganization; default/violation of any
covenant or obligation not remedied within 90 days? Yes No X
------------- -------------
C. As of any Determination date, the sum of all defaulted contracts
since the Closing date exceeds 6% of the ADCB on the Closing Date? Yes No X
------------- -------------
6. Aggregate Discounted Contract Balance at Closing Date Balance $270,243,724.70
---------------
</TABLE>
DELINQUENT LEASE SUMMARY
<TABLE>
<CAPTION>
Days Past Due Current Pool Balance # Leases
------------- -------------------- --------
<S> <C> <C>
31 - 60 11,598,004.12 49
61 - 90 1,885,922.38 13
91 - 180 93,811.67 10
</TABLE>
Approved By:
Lisa J. Cruikshank
Vice President
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