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Previous: DVI RECEIVABLES CORP VIII, 8-K, EX-99.1, 2000-08-03 |
Next: DVI RECEIVABLES CORP VIII, 8-K, EX-99.3, 2000-08-03 |
<PAGE> 1
DVI RECEIVABLES X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE JULY 13, 2000
<TABLE>
<S> <C>
I. RECONCILIATION OF COLLECTION ACCOUNT:
End of Period Collection Account Balance as of Prior Payment Date: 828,493.41
Available Funds:
Contract Payments due and received in this period 4,512,693.98
Contract Payments due in prior period(s) and received in this period 366,764.18
Contract Payments received in this period for next period 167,244.50
Sales, Use and Property Tax, Maintenance, Late Charges 111,542.84
Prepayment Amounts related to early termination in this period 604,702.64
Servicer Advance 653,635.80
Proceeds received from recoveries on previously Defaulted Contracts 0.00
Transfer from Reserve Account 14,009.41
Interest earned on Collection Account 26,417.37
Interest earned on Affiliated Account 1,876.22
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 7,287,380.35
Less: Amounts to be Retained in Collection Account 623,550.38
-------------
AMOUNT TO BE DISTRIBUTED 6,663,829.97
=============
DISTRIBUTION OF FUNDS:
1. To Trustee - Fees 0.00
2. To Servicer, any unreimbursed Nonrecoverable Advances or Servicer
Advances 366,764.18
3. To Noteholders (For Servicer Report immediately following the Final
Additional Closing Date)
a) Class A1 Principal and Interest 3,131,707.72
a) Class A2 Principal (distributed after A1 Note matures)
and Interest 1,158,647.38
a) Class A3 Principal (distributed after A2 Note matures)
and Interest 370,516.11
a) Class A4 Principal (distributed after A3 Note matures)
and Interest 595,956.85
b) Class B Principal and Interest 90,659.71
c) Class C Principal and Interest 182,384.33
d) Class D Principal and Interest 124,646.16
e) Class E Principal and Interest 168,697.88
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) 92,872.01
b) Residual Principal (Provided no Restricting or Amortization
Event in effect) 137,878.75
c) Reserve Account Distribution (Provided no Restricting or
Amortization Event in effect) 14,009.41
6. To Servicer, Tax, Maintenance, Late Charges and Bank Interest Earned
and Any Other Amounts 139,836.43
7. To Servicer, Servicing Fee and other Servicing Compensations 89,253.05
-------------
TOTAL FUNDS DISTRIBUTED 6,663,829.97
=============
-------------
End of Period Collection Account Balance {Includes Payments in Advance & Restricting
Event Funds (if any)} 623,550.38
=============
II. RESERVE ACCOUNT
Beginning Balance $2,702,437.25
- Add Investment Earnings 14,009.41
- Add Transfer from Certificate Account (To Satisfy Reserve Account Requirement) 0.00
- Less Distribution to Certificate Account 14,009.41
-------------
End of period balance $2,702,437.25
=============
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. $2,702,437.25
=============
</TABLE>
<PAGE> 2
DVI RECEIVABLES VIII 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE JULY 13, 2000
<TABLE>
III. CLASS A NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class A Notes
<S> <C> <C>
Pool A 164,398,162.21
Pool B 45,048,525.68
--------------
209,446,687.89
Class A Overdue Interest, if any 0.00
Class A Monthly Interest - Pool A 951,620.75
Class A Monthly Interest - Pool B 260,763.94
Class A Overdue Principal, if any 0.00
Class A Monthly Principal - Pool A 3,148,466.89
Class A Monthly Principal - Pool B 895,976.48
--------------
4,044,443.37
Ending Principal Balance of the Class A Notes
Pool A 161,249,695.32
Pool B 44,152,549.20
-------------- --------------
205,402,244.52
==============
</TABLE>
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $237,814,000 Original Face $237,814,000 Balance Factor
<S> <C> <C>
$ 5.098037 $ 17.006751 86.370964%
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C>
IV. CLASS A NOTE PRINCIPAL BALANCE
Beginning Principal Balance of the Class A Notes
Class A1 3,115,687.89
Class A2 42,182,000.00
Class A3 65,098,000.00
Class A4 99,051,000.00
--------------
Class A Monthly Interest 209,446,687.89
Class A1 (Actual Number Days/360) 16,019.83
Class A2 229,891.90
Class A3 370,516.11
Class A4 595,956.85
--------------
Class A Monthly Principal
Class A1 3,115,687.89
Class A2 928,755.48
Class A3 0.00
Class A4 0.00
--------------
4,044,443.37
Ending Principal Balance of the Class A Notes
Class A1 0.00
Class A2 41,253,244.52
Class A3 65,098,000.00
Class A4 99,051,000.00
-------------- --------------
205,402,244.52
==============
</TABLE>
<TABLE>
<CAPTION>
Class A2
-------------------------------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $42,182,000 Original Face $42,182,000 Balance Factor
<S> <C> <C>
$ 5.450000 $ 22.017815 97.798218%
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 3
DVI RECEIVABLES X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE JULY 13, 2000
<TABLE>
<CAPTION>
V. CLASS B NOTE PRINCIPAL BALANCE
<S> <C> <C>
Beginning Principal Balance of the Class B Notes
Pool A 2,802,516.53
Pool B 767,949.75
------------
3,570,466.28
Class B Overdue Interest, if any 0.00
Class B Monthly Interest - Pool A 17,048.64
Class B Monthly Interest - Pool B 4,671.69
Class B Overdue Principal, if any 0.00
Class B Monthly Principal - Pool A 53,667.05
Class B Monthly Principal - Pool B 15,272.33
------------
68,939.38
Ending Principal Balance of the Class B Notes
Pool A 2,748,849.48
Pool B 752,677.42
------------ ------------
3,501,526.90
============
</TABLE>
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $4,054,000 Original Face $4,054,000 Balance Factor
<S> <C> <C>
$ 5.357753 $ 17.005274 86.372148%
-------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
VI. CLASS C NOTE PRINCIPAL BALANCE
<S> <C> <C>
Beginning Principal Balance of the Class C Notes
Pool A 5,604,252.05
Pool B 1,535,680.49
------------
7,139,932.54
Class C Overdue Interest, if any 0.00
Class C Monthly Interest - Pool A 34,933.17
Class C Monthly Interest - Pool B 9,572.41
Class C Overdue Principal, if any 0.00
Class C Monthly Principal - Pool A 107,334.10
Class C Monthly Principal - Pool B 30,544.65
------------
137,878.75
Ending Principal Balance of the Class C Notes
Pool A 5,496,917.95
Pool B 1,505,135.84
------------ ------------
7,002,053.79
============
</TABLE>
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $8,107,000 Original Face $8,107,000 Balance Factor
<S> <C> <C>
$ 5.489772 $ 17.007370 86.370467%
-------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 4
DVI RECEIVABLES X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE JULY 13, 2000
<TABLE>
<CAPTION>
VII. CLASS D NOTE PRINCIPAL BALANCE
<S> <C> <C>
Beginning Principal Balance of the Class D Notes
Pool A 3,736,428.37
Pool B 1,023,860.00
------------
4,760,288.37
Class D Overdue Interest, if any 0.00
Class D Monthly Interest - Pool A 25,687.95
Class D Monthly Interest - Pool B 7,039.04
Class D Overdue Principal, if any 0.00
Class D Monthly Principal - Pool A 71,556.07
Class D Monthly Principal - Pool B 20,363.10
------------
91,919.17
Ending Principal Balance of the Class D Notes
Pool A 3,664,872.30
Pool B 1,003,496.90
------------ ------------
4,668,369.20
============
</TABLE>
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $5,405,000 Original Face $5,405,000 Balance Factor
<S> <C> <C>
$ 6.054947 $ 17.006322 86.371308%
-------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
VIII. CLASS E NOTE PRINCIPAL BALANCE
<S> <C> <C>
Beginning Principal Balance of the Class E Notes
Pool A 4,670,340.21
Pool B 1,279,770.24
------------
5,950,110.45
Class E Overdue Interest, if any 0.00
Class E Monthly Interest - Pool A 42,227.66
Class E Monthly Interest - Pool B 11,571.26
Class E Overdue Principal, if any 0.00
Class E Monthly Principal - Pool A 89,445.08
Class E Monthly Principal - Pool B 25,453.88
------------
114,898.96
Ending Principal Balance of the Class E Notes
Pool A 4,580,895.13
Pool B 1,254,316.36
------------ ------------
5,835,211.49
============
</TABLE>
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
Interest Paid Per $1,000 Principal Paid Per $1,000 Ending Principal
Original Face $6,756,000 Original Face $6,756,000 Balance Factor
<S> <C> <C>
$ 7.963132 $ 17.006951 86.370804%
-------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 5
DVI RECEIVABLES X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE JULY 13, 2000
<TABLE>
<CAPTION>
IX. ISSUERS RESIDUAL PRINCIPAL BALANCE
<S> <C> <C>
Beginning Residual Principal Balance
Pool A 5,604,818.05
Pool B 1,535,839.19
------------
7,140,657.24
Residual Interest - Pool A 73,194.53
Residual Interest - Pool B 19,677.48
Residual Principal - Pool A 107,334.10
Residual Principal - Pool B 30,544.65
------------
137,878.75
Ending Residual Principal Balance
Pool A 5,497,483.95
Pool B 1,505,294.54
------------ ------------
7,002,778.49
============
X. PAYMENT TO SERVICER
- Collection period Servicer Fee 89,253.05
- Servicer Advances reimbursement 366,764.18
- Tax, Maintenance, Late Charges, Bank Interest and other amounts 139,836.43
-------------
Total amounts due to Servicer 595,853.66
=============
</TABLE>
<PAGE> 6
DVI RECEIVABLES X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE JULY 13, 2000
XI. AGGREGATE DISCOUNTED CONTRACT BALANCE
<TABLE>
<S> <C> <C>
POOL A
Aggregate Discounted Contract Balance, as defined in Indenture Agreement,
at the beginning of the related Collection Period 186,816,517.41
Aggregate Discounted Contract Balance of Additional Contracts acquired
during Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 3,577,803.29
--------------
Aggregate Discounted Contract Balance, as defined in Indenture Agreement,
at the ending of the related Collection Period 183,238,714.12
==============
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 2,977,002.88
- Principal portion of Prepayment Amounts 600,800.41
- 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 3,577,803.29
============
POOL B
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the
beginning of the related Collection Period 51,191,625.33
Aggregate Discounted Contract Balance of Additional Contracts acquired during
Collection Period 0.00
Decline in Aggregate Discounted Contract Balance 1,018,155.09
Aggregate Discounted Contract Balance, as defined in Indenture Agreement, at the --------------
ending of the related Collection Period 50,173,470.24
==============
Components of Decline in Aggregate Discounted Contract Balance:
- Principal portion of Contract Payments and Servicer Advances 1,018,155.09
- Principal portion of Prepayment Amounts 0.00
- 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 1,018,155.09
============
--------------
AGGREGATE DISCOUNTED CONTRACT BALANCE AT THE END OF THE RELATED COLLECTION PERIOD 233,412,184.36
==============
</TABLE>
<PAGE> 7
DVI RECEIVABLES X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE JULY 13, 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 $211,061,551.13
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 $59,182,173.57
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 X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE JULY 13, 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 $211,061,551.13
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 $59,182,173.57
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 X 1999-2
SERVICER REPORT
FOR THE PAYMENT DATE JULY 13, 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 1,095,970.61 This Month 233,412,184.36
1 Month Prior 1,250,202.28 1 Month Prior 238,008,142.74
2 Months Prior 1,335,354.18 2 Months Prior 242,723,604.04
Total 3,681,527.07 Total 714,143,931.14
a) 3 MONTH AVERAGE 1,227,175.69 b) 3 MONTH AVERAGE 238,047,977.05
c) a/b 0.52%
</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 10,122,093.75 39
61 - 90 1,066,753.88 12
91 - 180 1,095,970.61 9
</TABLE>
Approved By:
Lisa J. Cruikshank
Vice President
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