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Previous: TYCO INTERNATIONAL LTD /BER/, S-4, 1999-06-11 |
Next: CHASE MANHATTAN BANK /NY/, 8-K, 1999-06-11 |
<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: June 11, 1999
CHASE MANHATTAN RV OWNER TRUST 1997-A
(Issuer of Securities)
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
(Sponsor of the Trust)
(Exact name of registrant as specified in its charter)
- --------------------------------------------------------------------------------
United States 333-32263 22-2382028
- ---------------------------- ------------------------ --------------------
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
802 Delaware Avenue, Wilmington, Delaware 19801
----------------------------------------- ------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (302) 575-5033
THE CHASE MANHATTAN BANK
(Sponsor of the Trust)
(Exact name of registrant as specified in its charter)
New York 333-32236 12-4994650
- --------------------- ------------------------ ----------------------
(State or other (Commission File Number) (IRS Employer
jurisdiction Identification No.)
of incorporation)
270 Park Avenue, New York, New York 10017
---------------------------------------- ------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 270-6000
<PAGE>
Item 5. Other Events:
On or about March 15, 1999 Monthly Interest as defined in the Sale and
Servicing Agreement dated as of October 1, 1997 (the "Agreement") between Chase
Manhattan Bank, USA, as a Seller, The Chase Manhattan Bank as a Seller, The CIT
Group/Sales Financing, Inc. as Servicer and Chase Manhattan RV Owner Trust
1997-A as Issuer was distributed to holders ("Certificateholders") of
participants in the Chase Manhattan RV Owner Trust 1997-A in accordance with the
Agreement. Copies of the applicable Monthly Reports, as defined in the
Agreement, have been furnished to Certificateholders in accordance with the
Agreement.
On or about April 15, 1999 Monthly Interest as defined in the Sale and
Servicing Agreement dated as of October 1, 1997 (the "Agreement") between Chase
Manhattan Bank, USA, as a Seller, The Chase Manhattan Bank as a Seller, The CIT
Group/Sales Financing, Inc. as Servicer and Chase Manhattan RV Owner Trust
1997-A as Issuer was distributed to holders ("Certificateholders") of
participants in the Chase Manhattan RV Owner Trust 1997-A in accordance with the
Agreement. Copies of the applicable Monthly Reports, as defined in the
Agreement, have been furnished to Certificateholders in accordance with the
Agreement.
On or about May 17, 1999 Monthly Interest as defined in the Sale and
Servicing Agreement dated as of October 1, 1997 (the "Agreement") between Chase
Manhattan Bank, USA, as a Seller, The Chase Manhattan Bank as a Seller, The CIT
Group/Sales Financing, Inc. as Servicer and Chase Manhattan RV Owner Trust
1997-A as Issuer was distributed to holders ("Certificateholders") of
participants in the Chase Manhattan RV Owner Trust 1997-A in accordance with the
Agreement. Copies of the applicable Monthly Reports, as defined in the
Agreement, have been furnished to Certificateholders in accordance with the
Agreement.
Copies of the Monthly Reports for being filed as Exhibits 20.1, 20.2,
and 20.3 to this Current Report on Form 8-K.
<PAGE>
Item 7(c). Exhibits
Exhibits Description
-------- -----------
20.1 Monthly Reports with respect to the March 15,
1999 distribution
20.2 Monthly Reports with respect to the April 15,
1999 distribution
20.3 Monthly Reports with respect to the May 17, 1999
distribution
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Dated: June 11, 1999
THE CIT GROUP/SALES FINANCING, INC.,
as Servicer
By: /s/ Frank J. Madeira
-----------------------------------
Name: Frank J. Madeira
Title: Vice President
<PAGE>
INDEX TO EXHIBITS
----------------------------
Exhibit No. Description
- ----------- -----------
20.1 Monthly Reports with respect to the March 15, 1999
distribution
20.2 Monthly Reports with respect to the April 15, 1999
distribution
20.3 Monthly Reports with respect to the May 17, 1999
distribution
<PAGE>
CHASE MANHATTAN RV OWNER TRUST 1997-A
MONTHLY SERVICER'S REPORT
Settlement Date 2/28/99
Determination Date 3/10/99
Distribution Date 3/15/99
<TABLE>
<S> <C>
I. All Payments on the Contracts 20,503,979.06
II. All Liquidation Proceeds on the Contracts with respect to Principal 312,593.39
III. Repurchased Contracts 0.00
IV. Investment Earnings on Collection Account 0.00
V. Servicer Monthly Advances 498,965.82
VI. Distribution from the Reserve Account 0.00
VII. Deposits from the Pay-Ahead Account (including Investment Earnings) 143,571.75
VIII. Transfers to the Pay-Ahead Account (127,507.60)
IX. Less: Investment Earnings distributions
(a) To Sellers with respect to the Collection Account 0.00
(b) To Sellers with respect to the Pay-Ahead Account 0.00
Total available amount in Collection Account $21,331,602.42
==============
<CAPTION>
DISTRIBUTION AMOUNTS COST PER $1000
- -------------------------------------------- --------------
<S> <C> <C> <C> <C>
1. (a) Class A-1 Note Interest Distribution 0.00
(b) Class A-1 Note Principal Distribution 0.00
Aggregate Class A-1 Note Distribution 0.00000000 0.00
2. (a) Class A-2 Note Interest Distribution 0.00
(b) Class A-2 Note Principal Distribution 0.00
Aggregate Class A-2 Note Distribution 0.00000000 0.00
3. (a) Class A-3 Note Interest Distribution 0.00
(b) Class A-3 Note Principal Distribution 0.00
Aggregate Class A-3 Note Distribution 0.00000000 0.00
4. (a) Class A-4 Note Interest Distribution 119,761.98
(b) Class A-4 Note Principal Distribution 17,143,325.18
Aggregate Class A-4 Note Distribution 236.48064600 17,263,087.16
5. (a) Class A-5 Note Interest Distribution 665,500.00
(b) Class A-5 Note Principal Distribution 0.00
Aggregate Class A-5 Note Distribution 5.04166667 665,500.00
6. (a) Class A-6 Note Interest Distribution 449,533.33
(b) Class A-6 Note Principal Distribution 0.00
Aggregate Class A-6 Note Distribution 5.10833333 449,533.33
7. (a) Class A-7 Note Interest Distribution 291,650.00
(b) Class A-7 Note Principal Distribution 0.00
Aggregate Class A-7 Note Distribution 5.11666667 291,650.00
8. (a) Class A-8 Note Interest Distribution 441,291.67
(b) Class A-8 Note Principal Distribution 0.00
Aggregate Class A-8 Note Distribution 5.19166667 441,291.67
9. (a) Class A-9 Note Interest Distribution 321,266.67
(b) Class A-9 Note Principal Distribution 0.00
Aggregate Class A-9 Note Distribution 5.26666667 321,266.67
10. (a) Class A-10 Note Interest Distribution 345,041.67
(b) Class A-10 Note Principal Distribution 0.00
Aggregate Class A-10 Note Distribution 5.30833333 345,041.67
11. (a) Class B Certificate Interest Distribution 244,679.31
(b) Class B Certificate Principal Distribution 0.00
Aggregate Class B Certificate Distribution 5.45000000 244,679.31
12. Servicer Payment
</TABLE>
Page 1 of 4
<PAGE>
<TABLE>
<S> <C> <C> <C>
(a) Servicing Fee 231,986.71
(b) Reimbursement of prior Monthly Advances 269,069.52
Total Servicer Payment 501,056.23
13. Deposits to the Reserve Account 808,496.39
Total Distribution Amount $21,331,602.42
===============
Reserve Account Distributions:
- --------------------------------
(a) Amounts to the Sellers (Chase USA) from Excess Collections 103,730.09
(b) Amounts to the Sellers (Chase Manhattan Bank)
from Excess Collections 704,766.30
(c) Distribution from the Reserve Account to the
Sellers(Chase USA) 49,336.85
(d) Distribution from the Reserve Account to the Sellers
(Chase Manhattan Bank) 335,205.99
Total Amounts to Sellers(Chase USA & Chase
Manhattan Bank) = $1,193,039.23
================
</TABLE>
<TABLE>
INTEREST
- --------------------------------
<S> <C> <C> <C>
1. Current Interest Requirement
(a) Class A-1 Notes @ 5.698% 0.00
(b) Class A-2 Notes @ 5.852% 0.00
(c) Class A-3 Notes @ 5.919% 0.00
(d) Class A-4 Notes @ 6.020% 119,761.98
(e) Class A-5 Notes @ 6.050% 665,500.00
(f) Class A-6 Notes @ 6.130% 449,533.33
(g) Class A-7 Notes @ 6.140% 291,650.00
(h) Class A-8 Notes @ 6.230% 441,291.67
(i) Class A-9 Notes @ 6.320% 321,266.67
(j) Class A-10 Notes @ 6.370% 345,041.67
Aggregate Interest on Notes 2,634,045.31
(k) Class B Certificates @ 6.640% 244,679.31
2. Remaining Interest Shortfall
(a) Class A-1 Notes 0.00
(b) Class A-2 Notes 0.00
(c) Class A-3 Notes 0.00
(d) Class A-4 Notes 0.00
(e) Class A-5 Notes 0.00
(f) Class A-6 Notes 0.00
(g) Class A-7 Notes 0.00
(h) Class A-8 Notes 0.00
(i) Class A-9 Notes 0.00
(j) Class A-10 Notes 0.00
(k) Class B Certificates 0.00
3. Total Distribution of Interest COST PER $1000
-------------------
(a) Class A-1 Notes 0.00000000 0.00
(b) Class A-2 Notes 0.00000000 0.00
(c) Class A-3 Notes 0.00000000 0.00
(d) Class A-4 Notes 1.64057504 119,761.98
(e) Class A-5 Notes 5.04166667 665,500.00
(f) Class A-6 Notes 5.10833333 449,533.33
(g) Class A-7 Notes 5.11666667 291,650.00
(h) Class A-8 Notes 5.19166667 441,291.67
(i) Class A-9 Notes 5.26666667 321,266.67
(j) Class A-10 Notes 5.30833333 345,041.67
Total Aggregate Interest on Notes 2,634,045.31
(k) Class B Certificates 5.45000000 244,679.31
</TABLE>
<TABLE>
PRINCIPAL No. of Contracts
- -------------------------------- -------------------
<S> <C> <C> <C>
1. Amount of Stated Principal Collected 4,544,930.08
2. Amount of Principal Prepayment Collected 454 12,041,112.54
3. Amount of Liquidated Contract 25 557,282.56
4. Amount of Repurchased Contract 0 0.00
Total Formula Principal Distribution Amount 17,143,325.18
5. Principal Balance before giving effect to Principal Distribution Pool Factor
-----------
(a) Class A-1 Notes 0.0000000 0.00
(b) Class A-2 Notes 0.0000000 0.00
(c) Class A-3 Notes 0.0000000 0.00
(d) Class A-4 Notes 0.3270249 23,872,819.52
</TABLE>
Page 2 of 4
<PAGE>
<TABLE>
<S> <C> <C> <C>
(e) Class A-5 Notes 1.0000000 132,000,000.00
(f) Class A-6 Notes 1.0000000 88,000,000.00
(g) Class A-7 Notes 1.0000000 57,000,000.00
(h) Class A-8 Notes 1.0000000 85,000,000.00
(i) Class A-9 Notes 1.0000000 61,000,000.00
(j) Class A-10 Notes 1.0000000 65,000,000.00
(k) Class B Certificates 1.0000000 44,895,285.54
6. Remaining Principal Shortfall
(a) Class A-1 Notes 0.00
(b) Class A-2 Notes 0.00
(c) Class A-3 Notes 0.00
(d) Class A-4 Notes 0.00
(e) Class A-5 Notes 0.00
(f) Class A-6 Notes 0.00
(g) Class A-7 Notes 0.00
(h) Class A-8 Notes 0.00
(i) Class A-9 Notes 0.00
(j) Class A-10 Notes 0.00
(k) Class B Certificates 0.00
7. Principal Distribution COST PER $1000
-------------------
(a) Class A-1 Notes 0.00000000 0.00
(b) Class A-2 Notes 0.00000000 0.00
(c) Class A-3 Notes 0.00000000 0.00
(d) Class A-4 Notes 234.84007096 17,143,325.18
(e) Class A-5 Notes 0.00000000 0.00
(f) Class A-6 Notes 0.00000000 0.00
(g) Class A-7 Notes 0.00000000 0.00
(h) Class A-8 Notes 0.00000000 0.00
(i) Class A-9 Notes 0.00000000 0.00
(j) Class A-10 Notes 0.00000000 0.00
(k) Class B Certificates 0.00000000 0.00
8. Principal Balance after giving effect to Principal Distribution Pool Factor
-----------
(a) Class A-1 Notes 0.0000000 0.00
(b) Class A-2 Notes 0.0000000 0.00
(c) Class A-3 Notes 0.0000000 0.00
(d) Class A-4 Notes 0.0921849 6,729,494.34
(e) Class A-5 Notes 1.0000000 132,000,000.00
(f) Class A-6 Notes 1.0000000 88,000,000.00
(g) Class A-7 Notes 1.0000000 57,000,000.00
(h) Class A-8 Notes 1.0000000 85,000,000.00
(i) Class A-9 Notes 1.0000000 61,000,000.00
(j) Class A-10 Notes 1.0000000 65,000,000.00
(k) Class B Certificates 1.0000000 44,895,285.54
<CAPTION>
POOL DATA Aggregate
- -------------------------------- No. of Contracts Principal Balance
---------------- -----------------
<S> <C> <C> <C>
1. Pool Stated Principal Balance as of 2/28/99 18,975 539,624,779.88
2. Delinquency Information % Delinquent
------------
(a) 31-59 Days 152 3,167,101.18 0.587%
(b) 60-89 Days 45 1,089,210.94 0.202%
(c) 90-119 Days 36 1,047,752.39 0.194%
(d) 120 Days + 160 4,202,736.78 0.779%
3. Contracts Repossessed during the Due Period 17 730,920.95
4. Current Repossession Inventory 56 2,549,896.56
5. Aggregate Net Losses for the preceding Collection Period
(a) Aggregate Principal Balance of Liquidated Receivables 25 557,282.56
(b) Net Liquidation Proceeds on any Liquidated Receivables 312,593.39
--------------
Total Aggregate Net Losses for the preceding Collection Period 244,689.17
6. Aggregate Losses on all Liquidated Receivables (Year-To-Date) 728,467.39
7. Aggregate Net Losses on all Liquidated Receivables (Life-To-Date) 282 4,024,243.72
8. Weighted Average Contract Rate of all Outstanding Contracts 9.269%
9. Weighted Average Remaining Term to Maturity of all Outstanding Contracts 114.418
</TABLE>
Page 3 of 4
<PAGE>
<TABLE>
TRIGGER ANALYSIS
- --------------------------------
<S> <C> <C> <C>
1. (a) Average Delinquency Percentage 1.630%
(b) Delinquency Percentage Trigger in effect ? NO
2. (a) Average Net Loss Ratio 0.043%
(b) Net Loss Ratio Trigger in effect ? NO
(c) Net Loss Ratio (using ending Pool Balance) 0.055%
3. (a) Servicer Replacement Percentage 0.595%
(b) Servicer Replacement Trigger in effect ? NO
<CAPTION>
MISCELLANEOUS
- --------------------------------
<S> <C> <C> <C>
1. Monthly Servicing Fees 231,986.71
2. Servicer Advances 498,965.82
3. (a) Opening Balance of the Reserve Account 11,135,362.10
(b) Deposits to the Reserve Account 808,496.39
(c) Investment Earnings in the Reserve Account 41,676.34
(d) Distribution from the Reserve Account (1,193,039.23)
(e) Ending Balance of the Reserve Account 10,792,495.60
4. Specified Reserve Account Balance 10,792,495.60
5. (a) Opening Balance in the Pay-Ahead Account 486,176.01
(b) Deposits to the Pay-Ahead Account from the Collection Account 127,507.60
(c) Investment Earnings in the Pay-Ahead Account 0.00
(d) Transfers from the Pay-Ahead Account to the Collection Account (143,571.75)
(e) Ending Balance in the Pay-Ahead Account 470,111.86
</TABLE>
Page 4 of 4
<PAGE>
CHASE MANHATTAN RV OWNER TRUST 1997-A
MONTHLY SERVICER'S REPORT
Settlement Date 3/31/99
Determination Date 4/12/99
Distribution Date 4/15/99
<TABLE>
<S> <C> <C>
I. All Payments on the Contracts 22,382,956.07
II. All Liquidation Proceeds on the Contracts with respect to Principal 797,959.40
III. Repurchased Contracts 0.00
IV. Investment Earnings on Collection Account 0.00
V. Servicer Monthly Advances 331,814.81
VI. Distribution from the Reserve Account 0.00
VII. Deposits from the Pay-Ahead Account (including Investment Earnings) 122,825.47
VIII. Transfers to the Pay-Ahead Account (167,292.82)
IX. Less: Investment Earnings distributions 0.00
(a) To Sellers with respect to the Collection Account 0.00
(b) To Sellers with respect to the Pay-Ahead Account
Total available amount in Collection Account $23,468,262.93
===============
<CAPTION>
DISTRIBUTION AMOUNTS Cost per $1000
- -------------------------------------------- ----------------
<S> <C> <C> <C>
1. (a) Class A-1 Note Interest Distribution 0.00
(b) Class A-1 Note Principal Distribution 0.00
Aggregate Class A-1 Note Distribution 0.00000000 0.00
2. (a) Class A-2 Note Interest Distribution 0.00
(b) Class A-2 Note Principal Distribution 0.00
Aggregate Class A-2 Note Distribution 0.00000000 0.00
3. (a) Class A-3 Note Interest Distribution 0.00
(b) Class A-3 Note Principal Distribution 0.00
Aggregate Class A-3 Note Distribution 0.00000000 0.00
4. (a) Class A-4 Note Interest Distribution 33,759.63
(b) Class A-4 Note Principal Distribution 6,729,494.34
Aggregate Class A-4 Note Distribution 92.64731466 6,763,253.97
5. (a) Class A-5 Note Interest Distribution 665,500.00
(b) Class A-5 Note Principal Distribution 12,976,831.61
Aggregate Class A-5 Note Distribution 103.35099705 13,642,331.61
6. (a) Class A-6 Note Interest Distribution 449,533.33
(b) Class A-6 Note Principal Distribution 0.00
Aggregate Class A-6 Note Distribution 5.10833333 449,533.33
7. (a) Class A-7 Note Interest Distribution 291,650.00
(b) Class A-7 Note Principal Distribution 0.00
Aggregate Class A-7 Note Distribution 5.11666667 291,650.00
8. (a) Class A-8 Note Interest Distribution 441,291.67
(b) Class A-8 Note Principal Distribution 0.00
Aggregate Class A-8 Note Distribution 5.19166667 441,291.67
9. (a) Class A-9 Note Interest Distribution 321,266.67
(b) Class A-9 Note Principal Distribution 0.00
Aggregate Class A-9 Note Distribution 5.26666667 321,266.67
10. (a) Class A-10 Note Interest Distribution 345,041.67
(b) Class A-10 Note Principal Distribution 0.00
Aggregate Class A-10 Note Distribution 5.30833333 345,041.67
11. (a) Class B Certificate Interest Distribution 244,679.31
(b) Class B Certificate Principal Distribution 0.00
Aggregate Class B Certificate Distribution 5.45000000 244,679.31
12. Servicer Payment
</TABLE>
Page 1 of 4
<PAGE>
<TABLE>
<S> <C> <C>
(a) Servicing Fee 224,843.66
(b) Reimbursement of prior Monthly Advances 436,764.41
Total Servicer Payment 661,608.07
13. Deposits to the Reserve Account 307,606.64
Total Distribution Amount $23,468,262.93
================
Reserve Account distributions:
- --------------------------------------------
(a) Amounts to the Sellers (Chase USA) from Excess Collections 39,465.93
(b) Amounts to the Sellers (Chase Manhattan Bank) from Excess Collections 268,140.71
(c) Distribution from the Reserve Account to the Sellers(Chase USA) 56,316.73
(d) Distribution from the Reserve Account to the Sellers(Chase Manhattan Bank) 382,628.95
Total Amounts to Sellers(Chase USA & Chase Manhattan Bank) = $746,552.32
================
INTEREST
- --------------------------------------------
1. Current Interest Requirement
(a) Class A-1 Notes @ 5.598% 0.00
(b) Class A-2 Notes @ 5.852% 0.00
(c) Class A-3 Notes @ 5.919% 0.00
(d) Class A-4 Notes @ 6.020% 33,759.63
(e) Class A-5 Notes @ 6.050% 665,500.00
(f) Class A-6 Notes @ 6.130% 449,533.33
(g) Class A-7 Notes @ 6.140% 291,650.00
(h) Class A-8 Notes @ 6.230% 441,291.67
(i) Class A-9 Notes @ 6.320% 321,266.67
(j) Class A-10 Notes @ 6.370% 345,041.67
Aggregate Interest on Notes 2,548,042.96
(k) Class B Certificates @ 6.540% 244,679.31
2. Remaining Interest Shortfall
(a) Class A-1 Notes 0.00
(b) Class A-2 Notes 0.00
(c) Class A-3 Notes 0.00
(d) Class A-4 Notes 0.00
(e) Class A-5 Notes 0.00
(f) Class A-6 Notes 0.00
(g) Class A-7 Notes 0.00
(h) Class A-8 Notes 0.00
(i) Class A-9 Notes 0.00
(j) Class A-10 Notes 0.00
(k) Class B Certificates 0.00
<S> <C> <C>
3. Total Distribution of Interest Cost per $1000
-----------------
(a) Class A-1 Notes 0.00000000 0.00
(b) Class A-2 Notes 0.00000000 0.00
(c) Class A-3 Notes 0.00000000 0.00
(d) Class A-4 Notes 0.46246068 33,759.63
(e) Class A-5 Notes 5.04166667 665,500.00
(f) Class A-6 Notes 5.10833333 449,533.33
(g) Class A-7 Notes 5.11666667 291,650.00
(h) Class A-8 Notes 5.19166667 441,291.67
(i) Class A-9 Notes 5.26666667 321,266.67
(j) Class A-10 Notes 5.30833333 345,041.67
Total Aggregate Interest on Notes 2,548,042.96
(k) Class B Certificates 5.45000000 244,679.31
<S> <C> <C> <C>
PRINCIPAL
- --------------------------------------------
No. of Contracts
--------------------
1. Amount of Stated Principal Collected 5,556,698.23
2. Amount of Principal Prepayment Collected 504 12,683,148.29
3. Amount of Liquidated Contract 40 1,466,479.43
4. Amount of Repurchased Contract 0 0.00
Total Formula Principal Distribution Amount 19,706,325.95
5. Principal Balance before giving effect to Principal Distribution Pool Factor
-----------
(a) Class A-1 Notes 0.0000000 0.00
(b) Class A-2 Notes 0.0000000 0.00
(c) Class A-3 Notes 0.0000000 0.00
(d) Class A-4 Notes 0.0921849 6,729,494.34
</TABLE>
Page 2 of 4
<PAGE>
<TABLE>
<S> <C> <C> <C>
(e) Class A-5 Notes 1.0000000 132,000,000.00
(f) Class A-6 Notes 1.0000000 88,000,000.00
(g) Class A-7 Notes 1.0000000 57,000,000.00
(h) Class A-8 Notes 1.0000000 85,000,000.00
(i) Class A-9 Notes 1.0000000 61,000,000.00
(j) Class A-10 Notes 1.0000000 65,000,000.00
(k) Class B Certificates 1.0000000 44,895,285.54
6. Remaining Principal Shortfall
(a) Class A-1 Notes 0.00
(b) Class A-2 Notes 0.00
(c) Class A-3 Notes 0.00
(d) Class A-4 Notes 0.00
(e) Class A-5 Notes 0.00
(f) Class A-6 Notes 0.00
(g) Class A-7 Notes 0.00
(h) Class A-8 Notes 0.00
(i) Class A-9 Notes 0.00
(j) Class A-10 Notes 0.00
(k) Class B Certificates 0.00
7. Principal Distribution Cost per $1000
-----------------
(a) Class A-1 Notes 0.00000000 0.00
(b) Class A-2 Notes 0.00000000 0.00
(c) Class A-3 Notes 0.00000000 0.00
(d) Class A-4 Notes 92.18485397 6,729,494.34
(e) Class A-5 Notes 98.30933038 12,976,831.61
(f) Class A-6 Notes 0.00000000 0.00
(g) Class A-7 Notes 0.00000000 0.00
(h) Class A-8 Notes 0.00000000 0.00
(i) Class A-9 Notes 0.00000000 0.00
(j) Class A-10 Notes 0.00000000 0.00
(k) Class B Certificates 0.00000000 0.00
8. Principal Balance after giving effect to Principal Distribution Pool Factor
-----------
(a) Class A-1 Notes 0.0000000 0.00
(b) Class A-2 Notes 0.0000000 0.00
(c) Class A-3 Notes 0.0000000 0.00
(d) Class A-4 Notes 0.0000000 0.00
(e) Class A-5 Notes 0.9016907 119,023,168.39
(f) Class A-6 Notes 1.0000000 88,000,000.00
(g) Class A-7 Notes 1.0000000 57,000,000.00
(h) Class A-8 Notes 1.0000000 85,000,000.00
(i) Class A-9 Notes 1.0000000 61,000,000.00
(j) Class A-10 Notes 1.0000000 65,000,000.00
(k) Class B Certificates 1.0000000 44,895,285.54
</TABLE>
<TABLE>
<CAPTION>
POOL DATA Aggregate
- -------------------------------------------- No. of Contracts Principal Balance
---------------- -----------------
<S> <C> <C> <C>
1. Pool Stated Principal Balance as of 3/31/99 18,431 519,918,453.93
2. Delinquency Information % Delinquent
------------
(a) 31-59 Days 132 2,958,964.79 0.569%
(b) 60-89 Days 45 963,380.37 0.185%
(c) 90-119 Days 36 988,628.02 0.190%
(d) 120 Days + 144 3,746,460.20 0.721%
3. Contracts Repossessed during the Due Period 32 1,029,786.85
4. Current Repossession Inventory 64 2,503,226.66
5. Aggregate Net Losses for the preceding Collection Period
(a) Aggregate Principal Balance of Liquidated Receivables 40 1,466,479.43
(b) Net Liquidation Proceeds on any Liquidated Receivables 797,959.40
-----------------
Total Aggregate Net Losses for the preceding
Collection Period 668,520.03
6. Aggregate Losses on all Liquidated Receivables (Year-To-Date) 1,400,064.42
7. Aggregate Net Losses on all Liquidated Receivables
(Life-To-Date) 322 4,692,763.75
8. Weighted Average Contract Rate of all Outstanding Contracts 9.268%
9. Weighted Average Remaining Term to Maturity of all Outstanding
Contracts 113.396
</TABLE>
Page 3 of 4
<PAGE>
<TABLE>
<CAPTION>
TRIGGER ANALYSIS
- --------------------------------------------
<S> <C> <C> <C>
1. (a) Average Delinquency Percentage 1.619%
(b) Delinquency Percentage Trigger in effect ? NO
2. (a) Average Net Loss Ratio 0.064%
(b) Net Loss Ratio Trigger in effect ? NO
(c) Net Loss Ratio (using ending Pool Balance) 0.084%
3. (a) Servicer Replacement Percentage 0.694%
(b) Servicer Replacement Trigger in effect ? NO
MISCELLANEOUS
- --------------------------------------------
1. Monthly Servicing Fees 224,843.66
2. Servicer Advances 331,814.81
3. (a) Opening Balance of the Reserve Account 10,792,495.60
(b) Deposits to the Reserve Account 307,606.64
(c) Investment Earnings in the Reserve Account 44,819.16
(d) Distribution from the Reserve Account (746,552.32)
(e) Ending Balance of the Reserve Account 10,398,369.08
4. Specified Reserve Account Balance 10,398,369.08
5. (a) Opening Balance in the Pay-Ahead Account 470,111.86
(b) Deposits to the Pay-Ahead Account from the Collection Account 167,292.82
(c) Investment Earnings in the Pay-Ahead Account 0.00
(d) Transfers from the Pay-Ahead Account to the Collection Account (122,825.47)
(e) Ending Balance in the Pay-Ahead Account 514,579.21
</TABLE>
Page 4 of 4
<PAGE>
CHASE MANHATTAN RV OWNER TRUST 1997-A
MONTHLY SERVICER'S REPORT
Settlement Date 4/30/99
Determination Date 5/12/99
Distribution Date 5/17/99
<TABLE>
<S> <C> <C>
I. All Payments on the Contracts 20,085,391.90
II. All Liquidation Proceeds on the Contracts with respect to Principal 974,323.23
III. Repurchased Contracts 0.00
IV. Investment Earnings on Collection Account 0.00
V. Servicer Monthly Advances 294,595.98
VI. Distribution from the Reserve Account 0.00
VII. Deposits from the Pay-Ahead Account (including Investment Earnings) 167,159.97
VIII. Transfers to the Pay-Ahead Account (165,549.20)
IX. Less: Investment Earnings distributions 0.00
(a) To Sellers with respect to the Collection Account 0.00
(b) To Sellers with respect to the Pay-Ahead Account
Total available amount in Collection Account $21,355,921.88
===============
<CAPTION>
DISTRIBUTION AMOUNTS Cost per $1000
- -------------------------------------------- -----------------------
<S> <C> <C> <C>
1. (a) Class A-1 Note Interest Distribution 0.00
(b) Class A-1 Note Principal Distribution 0.00
Aggregate Class A-1 Note Distribution 0.00000000 0.00
2. (a) Class A-2 Note Interest Distribution 0.00
(b) Class A-2 Note Principal Distribution 0.00
Aggregate Class A-2 Note Distribution 0.00000000 0.00
3. (a) Class A-3 Note Interest Distribution 0.00
(b) Class A-3 Note Principal Distribution 0.00
Aggregate Class A-3 Note Distribution 0.00000000 0.00
4. (a) Class A-4 Note Interest Distribution 0.00
(b) Class A-4 Note Principal Distribution 0.00
Aggregate Class A-4 Note Distribution 0.00000000 0.00
5. (a) Class A-5 Note Interest Distribution 600,075.14
(b) Class A-5 Note Principal Distribution 17,750,372.67
Aggregate Class A-5 Note Distribution 139.01854402 18,350,447.81
6. (a) Class A-6 Note Interest Distribution 449,533.33
(b) Class A-6 Note Principal Distribution 0.00
Aggregate Class A-6 Note Distribution 5.10833333 449,533.33
7. (a) Class A-7 Note Interest Distribution 291,650.00
(b) Class A-7 Note Principal Distribution 0.00
Aggregate Class A-7 Note Distribution 5.11666667 291,650.00
8. (a) Class A-8 Note Interest Distribution 441,291.67
(b) Class A-8 Note Principal Distribution 0.00
Aggregate Class A-8 Note Distribution 5.19166667 441,291.67
9. (a) Class A-9 Note Interest Distribution 321,266.67
(b) Class A-9 Note Principal Distribution 0.00
Aggregate Class A-9 Note Distribution 5.26666667 321,266.67
10. (a) Class A-10 Note Interest Distribution 345,041.67
(b) Class A-10 Note Principal Distribution 0.00
Aggregate Class A-10 Note Distribution 5.30833333 345,041.67
11. (a) Class B Certificate Interest Distribution 244,679.31
(b) Class B Certificate Principal Distribution 0.00
Aggregate Class B Certificate Distribution 5.45000000 244,679.31
</TABLE>
Page 1 of 4
<PAGE>
<TABLE>
<S> <C> <C>
12. Servicer Payment
(a) Servicing Fee 216,632.69
(b) Reimbursement of prior Monthly Advances 439,739.90
Total Servicer Payment 656,372.59
13. Deposits to the Reserve Account 255,638.84
Total Distribution Amount $21,355,921.88
===============
Reserve Account distributions:
- --------------------------------------------
(a) Amounts to the Sellers (Chase USA) from Excess Collections 32,798.46
(b) Amounts to the Sellers (Chase Manhattan Bank) from Excess Collections 222,840.38
(c) Distribution from the Reserve Account to the Sellers(Chase USA) 50,892.42
(d) Distribution from the Reserve Account to the Sellers(Chase Manhattan Bank) 345,774.89
Total Amounts to Sellers(Chase USA & Chase Manhattan Bank) = $652,306.15
===============
INTEREST
- --------------------------------------------
1. Current Interest Requirement
(a) Class A-1 Notes @ 5.598% 0.00
(b) Class A-2 Notes @ 5.852% 0.00
(c) Class A-3 Notes @ 5.919% 0.00
(d) Class A-4 Notes @ 6.020% 0.00
(e) Class A-5 Notes @ 6.050% 600,075.14
(f) Class A-6 Notes @ 6.130% 449,533.33
(g) Class A-7 Notes @ 6.140% 291,650.00
(h) Class A-8 Notes @ 6.230% 441,291.67
(i) Class A-9 Notes @ 6.320% 321,266.67
(j) Class A-10 Notes @ 6.370% 345,041.67
Aggregate Interest on Notes 2,448,858.47
(k) Class B Certificates @ 6.540% 244,679.31
2. Remaining Interest Shortfall
(a) Class A-1 Notes 0.00
(b) Class A-2 Notes 0.00
(c) Class A-3 Notes 0.00
(d) Class A-4 Notes 0.00
(e) Class A-5 Notes 0.00
(f) Class A-6 Notes 0.00
(g) Class A-7 Notes 0.00
(h) Class A-8 Notes 0.00
(i) Class A-9 Notes 0.00
(j) Class A-10 Notes 0.00
(k) Class B Certificates 0.00
3. Total Distribution of Interest Cost per $1000
-----------------------
(a) Class A-1 Notes 0.00000000 0.00
(b) Class A-2 Notes 0.00000000 0.00
(c) Class A-3 Notes 0.00000000 0.00
(d) Class A-4 Notes 0.00000000 0.00
(e) Class A-5 Notes 4.54602379 600,075.14
(f) Class A-6 Notes 5.10833333 449,533.33
(g) Class A-7 Notes 5.11666667 291,650.00
(h) Class A-8 Notes 5.19166667 441,291.67
(i) Class A-9 Notes 5.26666667 321,266.67
(j) Class A-10 Notes 5.30833333 345,041.67
Total Aggregate Interest on Notes 2,448,858.47
(k) Class B Certificates 5.45000000 244,679.31
PRINCIPAL No. of Contracts
- -------------------------------------------- -----------------------
1. Amount of Stated Principal Collected 4,786,043.64
2. Amount of Principal Prepayment Collected 533 11,273,391.91
3. Amount of Liquidated Contract 52 1,690,937.12
4. Amount of Repurchased Contract 0 0.00
Total Formula Principal Distribution Amount 17,750,372.67
5. Principal Balance before giving effect to Principal Distribution Pool Factor
(a) Class A-1 Notes 0.0000000 0.00
(b) Class A-2 Notes 0.0000000 0.00
(c) Class A-3 Notes 0.0000000 0.00
(d) Class A-4 Notes 0.0000000 0.00
</TABLE>
Page 2 of 4
<PAGE>
<TABLE>
<S> <C> <C> <C>
(e) Class A-5 Notes 0.9016907 119,023,168.39
(f) Class A-6 Notes 1.0000000 88,000,000.00
(g) Class A-7 Notes 1.0000000 57,000,000.00
(h) Class A-8 Notes 1.0000000 85,000,000.00
(i) Class A-9 Notes 1.0000000 61,000,000.00
(j) Class A-10 Notes 1.0000000 65,000,000.00
(k) Class B Certificates 1.0000000 44,895,285.54
6. Remaining Principal Shortfall
(a) Class A-1 Notes 0.00
(b) Class A-2 Notes 0.00
(c) Class A-3 Notes 0.00
(d) Class A-4 Notes 0.00
(e) Class A-5 Notes 0.00
(f) Class A-6 Notes 0.00
(g) Class A-7 Notes 0.00
(h) Class A-8 Notes 0.00
(i) Class A-9 Notes 0.00
(j) Class A-10 Notes 0.00
(k) Class B Certificates 0.00
7. Principal Distribution Cost per $1000
-----------------------
(a) Class A-1 Notes 0.00000000 0.00
(b) Class A-2 Notes 0.00000000 0.00
(c) Class A-3 Notes 0.00000000 0.00
(d) Class A-4 Notes 0.00000000 0.00
(e) Class A-5 Notes 134.47252023 17,750,372.67
(f) Class A-6 Notes 0.00000000 0.00
(g) Class A-7 Notes 0.00000000 0.00
(h) Class A-8 Notes 0.00000000 0.00
(i) Class A-9 Notes 0.00000000 0.00
(j) Class A-10 Notes 0.00000000 0.00
(k) Class B Certificates 0.00000000 0.00
8. Principal Balance after giving effect to Principal Distribution Pool Factor
(a) Class A-1 Notes 0.0000000 0.00
(b) Class A-2 Notes 0.0000000 0.00
(c) Class A-3 Notes 0.0000000 0.00
(d) Class A-4 Notes 0.0000000 0.00
(e) Class A-5 Notes 0.7672181 101,272,795.72
(f) Class A-6 Notes 1.0000000 88,000,000.00
(g) Class A-7 Notes 1.0000000 57,000,000.00
(h) Class A-8 Notes 1.0000000 85,000,000.00
(i) Class A-9 Notes 1.0000000 61,000,000.00
(j) Class A-10 Notes 1.0000000 65,000,000.00
(k) Class B Certificates 1.0000000 44,895,285.54
<CAPTION>
POOL DATA
- -------------------------------------------- Aggregate
No. of Contracts Principal Balance
---------------- -----------------
<S> <C> <C> <C>
1. Pool Stated Principal Balance as of 4/30/99 17,846 502,168,081.26
2. Delinquency Information % Delinquent
------------
(a) 31-59 Days 114 3,134,060.61 0.624%
(b) 60-89 Days 34 938,106.78 0.187%
(c) 90-119 Days 25 598,652.67 0.119%
(d) 120 Days + 138 3,667,788.00 0.730%
3. Contracts Repossessed during the Due Period 15 439,006.86
4. Current Repossession Inventory 43 1,731,382.67
5. Aggregate Net Losses for the preceding Collection Period
(a) Aggregate Principal Balance of Liquidated Receivables 52 1,690,937.12
(b) Net Liquidation Proceeds on any Liquidated Receivables 974,323.23
-----------------
Total Aggregate Net Losses for the preceding Collection Period 716,613.89
6. Aggregate Losses on all Liquidated Receivables (Year-To-Date) 2,121,753.13
7. Aggregate Net Losses on all Liquidated Receivables (Life-To-Date) 374 5,409,377.64
8. Weighted Average Contract Rate of all Outstanding Contracts 9.266%
9. Weighted Average Remaining Term to Maturity of all Outstanding Contracts 112.502
</TABLE>
Page 3 of 4
<PAGE>
<TABLE>
<CAPTION>
TRIGGER ANALYSIS
- --------------------------------------------
<S> <C> <C>
1. (a) Average Delinquency Percentage 1.535%
(b) Delinquency Percentage Trigger in effect ? NO
2. (a) Average Net Loss Ratio 0.079%
(b) Net Loss Ratio Trigger in effect ? NO
(c) Net Loss Ratio (using ending Pool Balance) 0.106%
3. (a) Servicer Replacement Percentage 0.799%
(b) Servicer Replacement Trigger in effect ? NO
MISCELLANEOUS
- --------------------------------------------
1. Monthly Servicing Fees 216,632.69
2. Servicer Advances 294,595.98
3. (a) Opening Balance of the Reserve Account 10,398,369.08
(b) Deposits to the Reserve Account 255,638.84
(c) Investment Earnings in the Reserve Account 41,659.86
(d) Distribution from the Reserve Account (652,306.15)
(e) Ending Balance of the Reserve Account 10,043,361.63
4. Specified Reserve Account Balance 10,043,361.63
5. (a) Opening Balance in the Pay-Ahead Account 514,579.21
(b) Deposits to the Pay-Ahead Account from the Collection Account 165,549.20
(c) Investment Earnings in the Pay-Ahead Account 0.00
(d) Transfers from the Pay-Ahead Account to the Collection Account (167,159.97)
(e) Ending Balance in the Pay-Ahead Account 512,968.44
</TABLE>
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