SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): May 15,
1996
TL LEASE FUNDING CORP. IV
(Exact Name of Registrant as Specified in Charter)
Delaware
(State or Other Jurisdiction
of Incorporation)
The Corporation Trust Company
1209 Orange Street
Wilmington, Delaware
(Address of Principal Executive
Offices)
33-95108
(Commission
File Number)
51-0366091
(IRS Employer
Identification
Number)
19801
(Zip Code)
Registrant's telephone number,including area code:(302) 658-7851
Page 1 of 8 sequentially-numbered pages.
Exhibit Index appears on page 4.
<PAGE>
Item 5. Other Events
Attached hereto as Exhibit 99.1 is the Monthly Statement for
April 1996 with respect to TLFC IV Equipment Lease Trust 1995-1,
a Delaware business trust (the "Trust"), which isssued
$89,658,869 aggregate principal amount of its Class A 6.40%
Equipment Lease Backed Notes and $10,802,273 aggregate
principal amount of its Class B 7.55% Equipment Lease Backed
Notes pursuant to an Indenture, dated as of October 6,
1995, between the Trust and Manufacturers and Traders Trust
Company, as indenture trustee.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibits:
99.1 Monthly Statement for April 1996 with respect to TLFC IV
Equipment Lease Trust 1995-1.
<PAGE>
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.
TL LEASE FUNDING CORP. IV
By: /s/ Norman Smagley
Name: Norman Smagley
Title: Vice President
Dated:May 13, 1996
<PAGE>
EXHIBIT INDEX
Exhibit No. Description Page No.5
99.1 Monthly Statement for April 1996 with respect to
TLFC IV Equipment Lease Trust 1995-1
<TABLE>
TL Lease Funding Corp. IV
Monthly Statement
For the Collection Period ended 4/30/96
<CAPTION>
Note
Collection Distribution
Account Account
<S> <C> <C>
Beginning Balance $0
Deposit of Collections and Other Amounts
Collections during the Collection Period 4,497,733.04
[4.7(b)]
Less:
Collections to reimburse ServicerAdvances (812,431.40)
[4.7(c)(i)]
Collections from Repurchased Leases or
Substituted Leases [(4.7(c)(ii)] 0.00
Add: Servicer Advances [3.3] 696,846.50
Add: Investment Earnings 17,505.61
Available Amount 4,399,653.75
Payments on Payment Date [4.8]
(a) Unreimbursed Servicer Advances to the
Servicer(when deemed by Servicer to be
uncollectible) 0.00
(b)Servicing Fee Arrearage to the Service 0.00
(c)Servicing Fee to the Servicer (68,761.68)
(d)Class A Interest Arrearage 0.00 0.00
(e)Class A Interest Payment Amount (352,478.26) 352,478.26
(f)Class B Interest Arrearage 0.00 0.00
(g)Class B Interest Payment Amount (52,268.62) 52,268.62
(h)Class A Principal Payment Amount (3,277,300.39) 3,277,300.39
(i)ClassB Principal Amount as follows:
1)to Class A Holders to extent of Subor
dination Shortfall 0.00 0.00
2) remainder to Class A Holders if
0.00 0.00
3) if no Restricting Event, remainder to
Class B Holders (648,844.80) 648,844.80
(j)Class B Holders, if Restricting Event 0.00 0.00
exists
(k)Certificateholders 0.00
Subtotal (4,399,653.75) 4,330,892.07
Distributions to Noteholders (4,330,892.07)
Ending Balance 0.00 0.00
</TABLE>
<TABLE>
TL Lease Funding Corp. IV
Monthly Statement
For the Collection Period ended 4/30/96
<CAPTION>
<S> <C>
Subordination Amount
Aggregate Discounted Lease Balance
(on the last day of the Collection Period) $78,636,001
Add: Available Amount less Servicing Fee, Class A&
B Interest Payment Amount and Class A Principal
Payment Amount 648,845
Less: Outstanding Class A Principal Balance
(AFTER CURRENT PAYMENT DATE) (62,812,373)
Subordination Amount $16,472,472
Minimum Required Subordination Amount $4,590,968
Subordination Shortfall 0
Restricting Event calculations
(1)Average Aggregate Delinquencies - trailing 6 mo 577,674
Average Aggregate Discounted Lease Balance -
trailing 6 months 88,424,804
Delinquency Ratio 0.65%
Maximum Delinquency Ratio 2.00%
(2)Aggregate Discounted Lease Bal. of Charged-off 878,697
Annualized Net Charge-offs 1,757,395
Average Aggregate DiLease Balance-trailing 6 months 88,424,804
Charge-off Ratio 1.99%
Maximum Charge-off Ratio 5.00%
Restricting Event NO
Substitution calculations (Section 5.1)
(1)Cumulative DiscouLeases substituted $0
for Leases subject to Defaulted Leases
Maximum ADLB of substituted Leases (6% of ADLB at $6,481,364
(2)Cumulative DiscouLeases substituted $0
for Leases subject to Warranty Event
Maximum ADLB of substituted Leases (5% of ADLB at $5,401,137
(3)Cumulative DiscouBalance of Leases substituted $0
for Leases
Maximum ADLB of substituted Leases
(10% of ADLB at Closing Date) $10,802,273
(4)Aggregate Discounted Lease Balance
(on the last day of the Collection Period) $78,636,001
Less: Outstanding Class A Principal Balance
(on the last day of the Collection) (66,089,674)
substitution subordination amount $12,546,327
Greater of:
a)17%ofADLB on the last day of the Collection Period 13,368,120
b) Minimum Required Subordination Amount $4,590,968
If substitution subordination amount does not exceed the greater of
(a) and (b), there can be no substitutions for Early Termination
Leases or Warranty Events
Early Termination Leases (Section 3.2(b))
Aggregate principal amount of all Leases which have become
Early Termination Leases $1,986,328
Maximum Early Termination Leases (3% of ADLRB at Cut
Off Date) 3,448,849
</TABLE>
<TABLE>
TL Lease Funding Corp. IV
Monthly Statement
For the Collection Period ended 4/30/96
<CAPTION>
<S> <C>
Payments on ClasSecurities (per $1,000 of initial
principal balance, per page 35 & 36 of Prospecstus)
Class A
Principal Payment 36.5529972
Interest Payment 3.9313262
Class B
Principal Payment 60.0655806
Interest Payment 4.8386687
Remaining outstanding principal balance, Class A 700.5706643
(per $1,000 of intial principal balance)
Remaining outstanding principal balance, Class B 708.9943339
(per $1,000 of intial principal balance)
Class A Pool Factor 70.0570664%
(remaining outstanding principal balance /
initial outstanding principal balance, after current payment)
Class B Pool Factor 70.8994334%
(remaining outstanding principal balance /
initial outstanding principal balance, after current payment)
Discounted Lease and Residual Data
ADLB on the last day of the Collection Period 78,636,001
ADLRB on the last day of the Collection Period 85,431,750
Loss and Delinqency Data
DLB of Defaulted Leases for the Collection Period $114,442.96
# of Defaulted Leases 17
DLB of Early Termination Leases for the $280,947.96
Collection Period
# of Early Termination Leases 60
DLB of repurchased Leases for the Collection Perio $0
# of repurchased Leases 0
DLB of delinquent Leases (90 days delinquent) for the
Collection Period $695,100
</TABLE>
<TABLE>
TL Lease Funding Corp. IV
Monthly Statement
For The Collection Period ended 4/30/96
<CAPTION>
ADLB
per AR Aging Percent
<S> <C> <C>
Current 74,650,021 94%
31-60 Days past Due 3,028,747 4%
61-90 Days Past Due 749,886 1%
Over 90 Days Past Due 695,100 1%
Total 79,123,754 100%
</TABLE>
