SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report: September 19, 1997
CHASE MANHATTAN CREDIT CARD MASTER TRUST
----------------------------------------
(Exact name of registrant as
specified in its charter)
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
(formerly known as "The Chase Manhattan Bank (USA)")
(Sponsor of the Trust)
Delaware 33-40006 22-2382028
--------------- ----------------- ------------------
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
802 Delaware Avenue, Wilmington, Delaware 19801
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (302) 575-5050
<PAGE>
Item 5. Other Events
On August 15, 1997, Chase Manhattan Credit Card Master Trust made the
distributions to Certificateholders contemplated by the Amended Pooling and
Servicing Agreement dated as of July 1, 1996, (the "Agreement"), between
Chase Manhattan Bank USA, N.A. and Yasuda Bank and Trust Company (U.S.A.)
(the "Trustee"), as supplemented by the Series Supplements for each of
Series 1992-1, Series 1995-1, Series 1995-2, Series 1996-1, Series 1996-2,
Series 1996-3 and Series 1996-4 in accordance with the Agreement.
Copies of the monthly Certificateholders' Statements for such
distributions are being filed as Exhibit 20.1 to this Current Report on
form 8-K.
Item 7 (c). Exhibits
Exhibit Description
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20.1 Monthly Certificateholders' Statements
with respect to the August 15, 1997
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.
Date: September 19, 1997
Chase Manhattan Credit Card Master Trust
By: Chase Manhattan Bank USA, National Association as Servicer
By: /s/ Patricia Garvey
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Name: Patricia Garvey
Title: Vice President
<PAGE>
INDEX TO EXHIBITS
-----------------
Exhibit Description
------- -----------
20.1 Monthly Certificateholders' Statements
with respect to the August 15, 1997
distribution to Certificateholders for
Series 1992-1, Series 1995-1, Series 1995-2,
Series 1996-1, Series 1996-2, Series 1996-3
and Series 1996-4
Exhibit 20.1
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CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
CHASE MANHATTAN CREDIT CARD MASTER TRUST SERIES 1992-1
MONTHLY CERTIFICATEHOLDERS' STATEMENT FOR MONTHLY PERIOD 65
Monthly Period - Beginning Date 07/01/1997
Monthly Period - End Date 07/31/1997
Determination Date 08/08/1997
Remittance Date 08/15/1997
I. Information Regarding Distributions to Certificateholders
A. Total amount distributed to
Certificateholders (per $1,000
Initial Invested Amount) $ 84.361111
B. Total principal Amount
distributed to Certificateholders
(per $1,000 Initial Invested
amount) $ 83.333333
C. Total interest amount
distributed to Certificateholders
(per $1,000 Initial Invested
amount) $ 1.027778
II. Receivables Balances
A. Aggregate Principal Receivables in
Trust, end of period 64 $ 7,458,880,591
B. Aggregate Principal Receivables in
Trust, end of period 65 $ 7,542,315,410
C. Investor Interest, end of period 64 $ 125,000,000
D. Investor Interest, end of period 65 $ 62,500,000
E. Investor Interest as a percentage
of Trust Principal Receivables, period 64 1.6759%
F. Investor Interest as a percentage
of Trust Principal Receivables, period 65 0.8287%
III. Collections During Due Period
A. Aggregate amount of Collections
processed during the preceding
Monthly Period $ 971,978,664
B. Monthly Pay Rate for:
1. Period - 60 11.46%
2. Period - 61 12.93%
3. Period - 62 12.29%
4. Period - 63 12.40%
5. Period - 64 12.58%
6. Period - 65 12.73%
7. 6 mo. avg. 12.40%
<PAGE>
C. Collections of Principal Receivables
during the preceding
Monthly period $ 66,060,378
D. Amount by which Controlled Amortization
Amount exceeds principal allocated
to Investors $ 0
E. Collections of Finance Charges
during the preceding
Monthly Period $ 1,885,942
F. Annualized gross portfolio yield for:
1. Period - 63 18.16%
2. Period - 64 17.97%
3. Period - 65 18.11%
4. 3 mo. avg. 18.08%
IV. Delinquent Balances
Aggregate Percent of
Account Aggregate
Balances Receivables
A. Less than 30 days delinquent $ 419,855,880.46 5.44%
B. 30 - 59 days delinquent $ 123,526,094.52 1.60%
C. 60 - 89 days delinquent $ 79,132,735.74 1.03%
D. 90 or more days delinquent $ 164,401,287.55 2.13%
E. Total $ 786,915,998.27 10.20%
V. Default Summary
A. Aggregate Investor Default Amount $ 727,681
B. Investor default Percentage for:
1. Period - 63 8.40%
2. Period - 64 6.98%
3. Period - 65 6.99%
4. 3 mo. avg. 7.45%
C. Investor Charge Offs
1. Aggregate dollar amount $ 0
2. Per $1000 of Initial Investor Certificate $ 0
D. Reimbursed Investor Charge Offs
1. Aggregate dollar Amount $ 0
2. Per $1000 of Initial Investor Certificate $ 0
E. Base Rate 9.65%
F. Net Portfolio Yield Minus Base Rate for:
1. Period - 63 0.11%
2. Period - 64 1.34%
3. Period - 65 1.47%
4. 3 mo. avg. 0.97%
VI. Monthly Investor Servicing Fee $ 223,958
VII. Withdrawal from Cash Collateral Account
under Section 4.06 $ 0
VIII. Required Cash Collateral Amount $ 22,500,000
IX. Available Cash Collateral Amount $ 22,500,000
X. Deficit Controlled Amortization
Amount $ 0
XI. Pool Factor 0.083333333333
<PAGE>
FORM OF MONTHLY CERTIFICATEHOLDERS' STATEMENT
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
Chase Manhattan Credit Card Master Trust Series 1995-1
For the August 15, 1997 Distribution Date
For Monthly Period 29
Under Section 5.02 of the Pooling and Servicing Agreement dated as of June
1, 1991 and the Series 1995-1 Supplement dated as of March 1, 1995 (together,
the "Agreement") by and between Chase Manhattan Bank USA, N.A. ("Chase") and
Yasuda Bank and Trust Company (U.S.A.), as trustee (the "Trustee"), Chase, as
Servicer, is required to prepare certain information each month regarding
current distributions to Series 1995-1 Certificateholders and the performance of
the Chase Manhattan Credit Card Master Trust (the "Trust") and the Series 1995-1
Class A Certificates and Series 1995-1 Class B Certificates during the previous
month. The information which is required to be prepared with respect to the
August 15, 1997 Distribution Date and with respect to the performance of the
Trust during the month July 1997 (the "29 Monthly Period") is set forth below.
Certain of the information is presented on the basis of an original principal
amount of $1,000 per Series 1995-1 Investor Certificate (a "Certificate").
Certain other information is presented based on the aggregate amounts
for the Trust as a whole. Capitalized terms used in this Certificate
have their respective meanings set forth in the Agreement.
I. INFORMATION REGARDING THE CURRENT MONTHLY DISTRIBUTION TO THE CLASS A
AND CLASS B CERTIFICATEHOLDERS (STATED ON THE BASIS OF $1,000 ORIGINAL
CERTIFICATE PRINCIPAL AMOUNT)
A) The total amount of the distribution to Series 1995-1
Certificateholders on August 15, 1997, per $1,000 original
certificate principal amount
(1) Class A Certificateholders.............. 5.002789
(2) Class B Certificateholders.............. 5.136261
B) The amount of the distribution set forth in paragraph 1 above
in respect of principal of the 1995-1 Certificates, per $1,000
original certificate principal amount
(1) Class A Certificateholders........... 0.000000
(2) Class B Certificateholders........... 0.000000
C) The amount of the distribution set forth in paragraph 1 above
in respect of interest on the 1995-1 Certificates, per $1,000
original certificate principal amount
(1) Class A Certificates................. 5.002789
(2) Class B Certificates................. 5.136261
II. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
A) Collections
(1) The aggregate amount of Collections processed with respect
to the preceding Monthly
Period and allocated to the Series 1995-1 Certificates
was equal to............................ $ 131,363,869.47
(2) The Payment Rate with respect to the preceding Monthly Period
was equal to............................ 12.73%
For 28 Monthly Period (the 2nd
preceding Monthly Period), the monthly payment rate was
equal to............................ 12.58%
For the 27 Monthly Period (the 3rd
preceding Monthly Period), the monthly payment
rate was equal to................... 12.40%
<PAGE>
(3) The aggregate amount of Collections of Principal Receivables
processed with respect to the
preceding Monthly Period which were allocated in respect of
the Series 1995-1 Certificates ......... $ 116,276,336.97
(4) The aggregate amount of Collections of Finance Charge Receivables
processed with respect to the
preceding Monthly Period which were allocated in respect of the
Series 1995-1 Certificates.............. $ 15,087,532.50
B) Deficit Controlled Amortization Amount.......... $ 0.00
C) Principal Receivables in the Trust and Allocation Percentages
(1) The aggregate amount of Principal Receivables in the
Trust as of the end of the preceding Monthly Period (which
reflects the Principal Receivables represented by the Seller
Interest, by the Investor Interest of Series 1995-1, and by the
Investor Interest of all other outstanding Series)
........................................ $ 7,542,315,410.43
(2) The Investor Interest as of the last day of the preceding
Monthly Period
(a) Investor Interest............... $ 1,000,000,000.00
(b) Class A Investor Interest....... $ 855,000,000.00
(c) Class B Investor Interest....... $ 50,000,000.00
(d) Collateral Interest............. $ 95,000,000.00
(3) The Investor Interest set forth in paragraph C(2)(a)
above as a percentage of the aggregate amount of
Principal Receivables set forth in paragraph
C(1) above.............................. 13.2585%
(4) The Class A Investor Interest set forth in paragraph C(2)(b) above
as a percentage of the aggregate amount of Principal Receivables set
forth in paragraph C(1) above 11.3360%
(5) The Class B Investor Interest set forth in paragraph C(2)(c) above
as a percentage of the aggregate amount of Principal Receivables set
forth in paragraph C(1) above 0.6629%
(6) The Collateral Interest set forth in paragraph C(2)(d) above as a
percentage of the aggregate amount of Principal Receivables set
forth in paragraph C(1) above 1.2596%
(7) The Class A Floating Percentage......... 85.5000%
(8) The Class B Floating Percentage......... 5.0000%
(9) The Class B Principal Percentage........ 5.0000%
(10) The Collateral Floating Percentage..... 9.5000%
(11) The Collateral Principal Percentage.... 9.5000%
(12) The Floating Allocation Percentage..... 13.4068%
(13) The Principal Allocation Percentage.... 13.4068%
<PAGE>
D) Portfolio Yield and Base Rate
(1) The annualized Portfolio Yield for the preceding Monthly Period
was equal to............................. 18.11%
For the 28 Monthly Period (the 2nd
preceding Monthly Period), the annualized
portfolio yield was equal to............ 17.97%
For the 27 Monthly Period (the
3rd preceding Monthly Period), the annualized
portfolio yield was equal to............ 18.16%
The three month average Portfolio Yield was
equal to................................ 18.08%
(2) Base Rate for the preceding Monthly Period was equal to
......................................... 8.00%
For the 28 Monthly Period (the
2nd preceding Monthly Period), the Base Rate was
equal to............................. 8.01%
For the 27 Monthly Period (the 3rd
preceding Monthly Period), the Base Rate was
equal to............................. 8.01%
E) Delinquent Balances
The aggregate amount of outstanding balances in the Accounts which were
delinquent as of the end of the last day of the preceding Monthly
Period:
Aggregate As a Percentage
Account of Aggregate
Balance Receivables
(1) Upto 29 Days $ 419,855,880.46 5.44%
(2) 30 - 59 Days $ 123,526,094.52 1.60%
(3) 60 - 89 Days $ 79,132,735.74 1.03%
(4) 90 or More Days $ 164,401,287.55 2.13%
Total $ 786,915,998.27 10.20%
F) Investor Default Amount
(1) The aggregate amount of all defaulted Principal
Receivables written off as uncollectible with respect
to Billing Cycles ending during preceding Monthly Period
allocable to the Investor Interest less Recoveries allocable to
the Investor Interest (the "Series 1995-1 Aggregate Investor Default
Amount") ............................... $ 5,821,444.76
(2) The portion of the series 1995-1 Aggregate Investor
Default Amount allocable to the Class A Investor
Interest (the "Class A Investor Default Amount")
....................................... $ 4,977,335.27
(3) The portion of the Series 1995-1 Aggregate Investor
Default Amount allocable to the Class B Investor
Interest (the "Class B Investor Default Amount")
....................................... $ 291,072.24
(4) The portion of the Series 1995-1 Aggregate Investor
Default Amount allocable to the Collateral Investor
Interest (the "Collateral Investor Default Amount")
....................................... $ 553,037.25
(5) The annualized investor default percentage (Series
1995-1 Aggregate Investor Default Amount/Investor
Interest) x 12 for the preceding Monthly Period was
equal to .............................. 6.99%
For the 29 Monthly Period (the 2nd preceding Monthly Period),
the annualized investor default percentage was equal to 6.98%
For the 27 Monthly Period (the 3rd preceding Monthly Period),
the annualized investor default percentage was equal to 8.40%
<PAGE>
G) Investor Charge Offs
(1) The aggregate amount of Class A Investor Charge-Offs
for the preceding Monthly Period....... $ 0.00
(2) The aggregate Class A Charge Off per $1000 Original
Certificate Principal Amount .......... $ 0.00
(3) The aggregate amount of Class A Investor Charge-Offs
reimbursed on the Transfer Date immediately preceding
such Distribution Date................. $ 0.00
(4) The amount of the reimbursed Investor Charge-Offs set
forth in paragraph G(2) above, per $1,000 original
Class A Certificate principal amount... $ 0.00
(5) The aggregate amount of Class B Investor Charge-Offs
for such Monthly Period................ $ 0.00
(6) The aggregate Class B Charge Off per $1000 Original
Certificate Principal Amount .......... $ 0.00
(7) The aggregate amount of Class B Investor Charge-Offs
reimbursed on the Transfer Date immediately preceding
such Distribution Date................. $ 0.00
(8) The amount of the reimbursed Investor Charge-Offs set
forth in paragraph G(6) above, per $1,000 original
Class B Certificate principal amount... $ 0.00
(9) The aggregate amount of Investor Charge-Offs
....................................... $ 0.00
(10) The aggregate Investor Charge Off per $1000 Original
Certificate Principal Amount .......... $ 0.00
(11) The aggregate amount of reimbursed Investor Charge-Offs
....................................... $ 0.00
(12) The amount of the reimbursed Investor Charge-Offs set
forth in paragraph G(9) above, per $1,000 original
Investor principal amount.............. $ 0.00
H) Shared Excess Finance Charge Collection
The aggregate amount of shared Excess Finance Charge Collections
during the preceding Monthly Period which were allocated to the
Series 1995-1 Certificates..................... $ 0.00
I) Shared Principal Collections
The aggregate amount of Shared Principal Collections during the
preceding Monthly Period allocated to the Series 1995-1
Certificates................................... $ 0.00
J) Reallocated Principal Collections
(1) Collections of Principal Receivables allocable to Class
B Certificates paid with respect to Class A
Certificates to make up deficiencies in Class A
Required Amount for any Monthly Period. $ 0.00
(2) Collections of Principal Receivables allocable to
Collateral Interest paid with respect to Class B
Certificates to make up deficiencies in Class B
Required Amount........................ $ 0.00
<PAGE>
K) Monthly Investor Servicing Fee
(1) The amount of the Monthly Investor Servicing
Fee payable by the Trust to the Servicer for the preceding
Monthly Period......................... $ 1,791,666.67
(2) The amount of the Class A Monthly Servicing Fee payable
by the Trust for the preceding Monthly Period
....................................... $ 1,531,875.00
(3) The amount of the Class B Monthly Servicing Fee payable
by the Trust to the Servicer for the preceding Monthly
Period................................. $ 89,583.33
(4) The amount of the Collateral Monthly Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period......................... $ 170,208.34
L) Collateral Interest
(1) The Available Collateral Interest, as of the close of Transfer
Date for the preceding Monthly Period was equal to
....................................... $ 95,000,000.00
M) Required Collateral Interest
(1) The Required Collateral interest as of the Transfer
Date for the preceding Monthly Period was equal to
....................................... $ 95,000,000.00
III. THE POOL FACTOR
A) The Pool Factor for the Record Date for the distribution to be
made on the Distribution date (which represents the ratio of
the amount of the Investor Interest as of such Record Date
(determined after taking into account any reduction in the
Investor Interest which will occur on the Distribution Date)
to the Initial Investor Interest). The amount of a
Certificateholder's pro rata share of the Investor Interest can
be determined by multiplying the original denomination of the
Certificateholder's Certificate by the Pool Factor. 1.00
<PAGE>
FORM OF MONTHLY CERTIFICATEHOLDERS' STATEMENT
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
Chase Manhattan Credit Card Master Trust Series 1995-2
For the August 15, 1997 Distribution Date
For Monthly Period 26
Under Section 5.02 of the Pooling and Servicing Agreement dated as of June
1, 1991 and the Series 1995-2 Supplement dated as of March 1, 1995 (together,
the "Agreement") by and between Chase Manhattan Bank USA, N.A. ("Chase") and
Yasuda Bank and Trust Company (U.S.A.), as trustee (the "Trustee"), Chase, as
Servicer, is required to prepare certain information each month regarding
current distributions to Series 1995-2 Certificateholders and the performance of
the Chase Manhattan Credit Card Master Trust (the "Trust") and the Series 1995-2
Class A Certificates and Series 1995-2 Class B Certificates during the previous
month. The information which is required to be prepared with respect to the
August 15, 1997 Distribution Date and with respect to the performance of the
Trust during the month July 1997 (the " 26 Monthly Period") is set forth below.
Certain of the information is presented on the basis of an original principal
amount of $1,000 per Series 1995-2 Investor Certificate (a
"Certificate").Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Certificate
have their respective meanings set forth in the Agreement.
I. INFORMATION REGARDING THE CURRENT MONTHLY DISTRIBUTION TO THE CLASS A
AND CLASS B CERTIFICATEHOLDERS (STATED ON THE BASIS OF $1,000 ORIGINAL
CERTIFICATE PRINCIPAL AMOUNT)
A) The total amount of the distribution to Series 1995-2
Certificateholders on August 15, 1997, per $1,000 original
certificate principal amount
(1) Class A Certificateholders.............. 5.002789
(2) Class B Certificateholders.............. 5.106122
B) The amount of the distribution set forth in paragraph 1 above
in respect of principal of the 1995-2 Certificates, per $1,000
original certificate principal amount
(1) Class A Certificateholders........... 0.000000
(2) Class B Certificateholders........... 0.000000
C) The amount of the distribution set forth in paragraph 1 above
in respect of interest on the 1995-2 Certificates, per $1,000
original certificate principal amount
(1) Class A Certificates................. 5.002789
(2) Class B Certificates................. 5.106122
II. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
A) Collections
(1) The aggregate amount of Collections processed with respect
to the preceding Monthly
Period and allocated to the Series 1995-2 Certificates
was equal to............................ $ 197,045,804.20
(2) The Payment Rate with respect to the preceding Monthly Period
was equal to............................ 12.73%
For 25 Monthly Period (the 2nd
preceding Monthly Period), the monthly payment rate was
equal to............................ 12.58%
For the 24 Monthly Period (the 3rd
preceding Monthly Period), the monthly payment
rate was equal to................... 12.40%
(3) The aggregate amount of Collections of Principal Receivables
processed with respect to the
preceding Monthly Period which were allocated in respect of
the Series 1995-2 Certificates ......... $ 174,414,505.45
<PAGE>
(4) The aggregate amount of Collections of Finance Charge Receivables
processed with respect to the
preceding Monthly Period which were allocated in respect of the
Series 1995-2 Certificates.............. $ 22,631,298.75
B) Deficit Controlled Amortization Amount.......... $ 0.00
C) Principal Receivables in the Trust and Allocation Percentages
(1) The aggregate amount of Principal Receivables in the
Trust as of the end of the preceding Monthly Period (which reflects
the Principal Receivables represented by the Seller Interest,
by the Investor Interest of Series 1995-2, and by the
Investor Interest of all other outstanding Series)
........................................ $ 7,542,315,410.43
(2) The Investor Interest as of the last day of the preceding
Monthly Period
(a) Investor Interest............... $ 1,500,000,000.00
(b) Class A Investor Interest....... $ 1,282,500,000.00
(c) Class B Investor Interest....... $ 82,500,000.00
(d) Collateral Interest............. $ 135,000,000.00
(3) The Investor Interest set forth in paragraph C(2)(a)
above as a percentage of the aggregate amount of
Principal Receivables set forth in paragraph
C(1) above.............................. 19.8878%
(4) The Class A Investor Interest set forth in paragraph C(2)(b) above
as a percentage of the aggregate amount of Principal Receivables set
forth in paragraph C(1) above 17.0041%
(5) The Class B Investor Interest set forth in paragraph C(2)(c) above
as a percentage of the aggregate amount of Principal Receivables set
forth in paragraph C(1) above 1.0938%
(6) The Collateral Interest set forth in paragraph C(2)(d) above as a
percentage of the aggregate amount of Principal Receivables set
forth in paragraph C(1) above 1.7899%
(7) The Class A Floating Percentage......... 85.5000%
(8) The Class B Floating Percentage......... 5.5000%
(9) The Class B Principal Percentage........ 5.5000%
(10) The Collateral Floating Percentage..... 9.0000%
(11) The Collateral Principal Percentage.... 9.0000%
(12) The Floating Allocation Percentage..... 20.1103%
(13) The Principal Allocation Percentage.... 20.1103%
D) Portfolio Yield and Base Rate
(1) The annualized Portfolio Yield for the preceding Monthly Period
was equal to............................. 18.11%
For the 25 Monthly Period (the 2nd
preceding Monthly Period), the annualized
portfolio yield was equal to............ 17.97%
For the 24 Monthly Period (the
3rd preceding Monthly Period), the annualized
portfolio yield was equal to............ 18.16%
The three month average Portfolio Yield was
equal to................................ 18.08%
(2) Base Rate for the preceding Monthly Period was equal to
......................................... 7.99%
For the 25 Monthly Period (the
2nd preceding Monthly Period), the Base Rate was
equal to............................. 8.00%
For the 24 Monthly Period (the 3rd
preceding Monthly Period), the Base Rate was
equal to............................. 8.00%
<PAGE>
E) Delinquent Balances
The aggregate amount of outstanding balances in the Accounts which were
delinquent as of the end of the last day of the preceding Monthly
Period:
Aggregate As a Percentage
Account of Aggregate
Balance Receivables
(1) Upto 29 Days $ 419,855,880.46 5.44%
(2) 30 - 59 Days $ 123,526,094.52 1.60%
(3) 60 - 89 Days $ 79,132,735.74 1.03%
(4) 90 or More Days $ 164,401,287.55 2.13%
Total $ 786,915,998.27 10.20%
F) Investor Default Amount
(1) The aggregate amount of all defaulted Principal
Receivables written off as uncollectible with respect
to Billing Cycles ending during preceding Monthly Period
allocable to the Investor Interest less Recoveries allocable to
the Investor Interest (the "Series 1995-2 Aggregate Investor Default
Amount") .............................. $ 8,732,167.14
(2) The portion of the series 1995-2 Aggregate Investor
Default Amount allocable to the Class A Investor
Interest (the "Class A Investor Default Amount")
....................................... $ 7,466,002.90
(3) The portion of the Series 1995-2 Aggregate Investor
Default Amount allocable to the Class B Investor
Interest (the "Class B Investor Default Amount")
....................................... $ 480,269.19
(4) The portion of the Series 1995-2 Aggregate Investor
Default Amount allocable to the Collateral Investor
Interest (the "Collateral Investor Default Amount")
....................................... $ 785,895.05
(5) The annualized investor default percentage (Series
1995-2 Aggregate Investor Default Amount/Investor
Interest) x 12 for the preceding Monthly Period was
equal to .............................. 6.99%
For the 26 Monthly Period (the 2nd preceding Monthly Period),
the annualized investor default percentage was equal to 6.98%
For the 24 Monthly Period (the 3rd preceding Monthly Period),
the annualized investor default percentage was equal to 8.40%
G) Investor Charge Offs
(1) The aggregate amount of Class A Investor Charge-Offs
for the preceding Monthly Period....... $ 0.00
(2) The aggregate Class A Charge Off per $1000 Original
Certificate Principal Amount .......... $ 0.00
(3) The aggregate amount of Class A Investor Charge-Offs
reimbursed on the Transfer Date immediately preceding
such Distribution Date................. $ 0.00
<PAGE>
(4) The amount of the reimbursed Investor Charge-Offs set
forth in paragraph G(2) above, per $1,000 original
Class A Certificate principal amount... $ 0.00
(5) The aggregate amount of Class B Investor Charge-Offs
for such Monthly Period................ $ 0.00
(6) The aggregate Class B Charge Off per $1000 Original
Certificate Principal Amount .......... $ 0.00
(7) The aggregate amount of Class B Investor Charge-Offs
reimbursed on the Transfer Date immediately preceding
such Distribution Date................. $ 0.00
(8) The amount of the reimbursed Investor Charge-Offs set
forth in paragraph G(6) above, per $1,000 original
Class B Certificate principal amount... $ 0.00
(9) The aggregate amount of Investor Charge-Offs
....................................... $ 0.00
(10) The aggregate Investor Charge Off per $1000 Original
Certificate Principal Amount .......... $ 0.00
(11) The aggregate amount of reimbursed Investor Charge-Offs
....................................... $ 0.00
(12) The amount of the reimbursed Investor Charge-Offs set
forth in paragraph G(9) above, per $1,000 original
Investor principal amount.............. $ 0.00
H) Shared Excess Finance Charge Collection
The aggregate amount of shared Excess Finance Charge Collections
during the preceding Monthly Period which were allocated to the
Series 1995-2 Certificates..................... $ 0.00
I) Shared Principal Collections
The aggregate amount of Shared Principal Collections during the
preceding Monthly Period allocated to the Series 1995-2
Certificates................................... $ 0.00
J) Reallocated Principal Collections
(1) Collections of Principal Receivables allocable to Class
B Certificates paid with respect to Class A
Certificates to make up deficiencies in Class A
Required Amount for any Monthly Period. $ 0.00
(2) Collections of Principal Receivables allocable to
Collateral Interest paid with respect to Class B
Certificates to make up deficiencies in Class B
Required Amount........................ $ 0.00
<PAGE>
K) Monthly Investor Servicing Fee
(1) The amount of the Monthly Investor Servicing
Fee payable by the Trust to the Servicer for the preceding
Monthly Period......................... $ 2,687,500.00
(2) The amount of the Class A Monthly Servicing Fee payable
by the Trust for the preceding Monthly Period
....................................... $ 2,297,812.50
(3) The amount of the Class B Monthly Servicing Fee payable
by the Trust to the Servicer for the preceding Monthly
Period................................. $ 147,812.50
(4) The amount of the Collateral Monthly Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period......................... $ 241,875.00
L) Collateral Interest
(1) The Available Collateral Interest, as of the close of Transfer
Date for the preceding Monthly Period was equal to
....................................... $ 135,000,000.00
M) Required Collateral Interest
(1) The Required Collateral interest as of the Transfer
Date for the preceding Monthly Period was equal to
....................................... $ 135,000,000.00
III. THE POOL FACTOR
A) The Pool Factor for the Record Date for the distribution to be
made on the Distribution date (which represents the ratio of
the amount of the Investor Interest as of such Record Date
(determined after taking into account any reduction in the
Investor Interest which will occur on the Distribution Date)
to the Initial Investor Interest). The amount of a
Certificateholder's pro rata share of the Investor Interest can
be determined by multiplying the original denomination of the
Certificateholder's Certificate by the Pool Factor. 1.00
<PAGE>
FORM OF MONTHLY CERTIFICATEHOLDERS' STATEMENT
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
Chase Manhattan Credit Card Master Trust Series 1996-1
For the August 15, 1997 Distribution Date
For Monthly Period 18
Under Section 5.02 of the Pooling and Servicing Agreement dated as of June
1, 1991 and the Series 1996-1 Supplement dated as of February 1, 1996 (together,
the "Agreement") by and between Chase Manhattan Bank USA, N.A. ("Chase") and
Yasuda Bank and Trust Company (U.S.A.), as trustee (the "Trustee"), Chase, as
Servicer, is required to prepare certain information each month regarding
current distributions to Series 1996-1 Certificateholders and the performance of
the Chase Manhattan Credit Card Master Trust (the "Trust") and the Series 1996-1
Class A Certificates and Series 1996-1 Class B Certificates during the previous
month. The information which is required to be prepared with respect to the
August 15, 1997 Distribution Date and with respect to the performance of the
Trust during the month July 1, 1997 (the " 18 Monthly Period") is set forth
below. Certain of the information is presented on the basis of an original
principal amount of $1,000 per Series 1996-1 Investor Certificate (a
"Certificate").Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Certificate
have their respective meanings set forth in the Agreement.
I. INFORMATION REGARDING THE CURRENT MONTHLY DISTRIBUTION TO THE CLASS A
AND CLASS B CERTIFICATEHOLDERS (STATED ON THE BASIS OF $1,000 ORIGINAL
CERTIFICATE PRINCIPAL AMOUNT)
A) The total amount of the distribution to Series 1996-1
Certificateholders on August 15, 1997, per $1,000 original
certificate principal amount
(1) Class A Certificateholders.............. 4.985566
(2) Class B Certificateholders.............. 5.097511
B) The amount of the distribution set forth in paragraph 1 above
in respect of principal of the 1996-1 Certificates, per $1,000
original certificate principal amount
(1) Class A Certificateholders.............. 0.000000
(2) Class B Certificateholders.............. 0.000000
C) The amount of the distribution set forth in paragraph 1 above
in respect of interest on the 1996-1 Certificates, per $1,000
original certificate principal amount
(1) Class A Certificates.................... 4.985566
(2) Class B Certificates.................... 5.097511
II. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
A) Collections
(1) The aggregate amount of Collections processed with respect
to the preceding Monthly
Period and allocated to the Series 1996-1 Certificates
was equal to............................ $ 197,045,804.20
(2) The Payment Rate with respect to the preceding Monthly Period
was equal to............................ 12.73%
For 17 Monthly Period (the 2nd
preceding Monthly Period), the monthly payment rate was
equal to............................ 12.58%
For the 16 Monthly Period (the 3rd
preceding Monthly Period), the monthly payment
rate was equal to................... 12.40%
<PAGE>
(3) The aggregate amount of Collections of Principal Receivables
processed with respect to the
preceding Monthly Period which were allocated in respect of
the Series 1996-1 Certificates ......... $ 174,414,505.45
(4) The aggregate amount of Collections of Finance Charge Receivables
processed with respect to the
preceding Monthly Period which were allocated in respect of the
Series 1996-1 Certificates.............. $ 22,631,298.75
B) Deficit Controlled Amortization Amount.......... $ 0.00
C) Principal Receivables in the Trust and Allocation Percentages
(1) The aggregate amount of Principal Receivables in the Trust
as of the end of the preceding Monthly Period (which reflects
the Principal Receivables represented by the Seller Interest,
by the Investor Interest of Series 1996-1, and by the
Investor Interest of all other outstanding Series)
........................................ $ 7,542,315,410.43
(2) The Investor Interest as of the last day of the preceding
Monthly Period
(a) Investor Interest............... $ 1,500,000,000.00
(b) Class A Investor Interest....... $ 1,282,500,000.00
(c) Class B Investor Interest....... $ 82,500,000.00
(d) Collateral Interest............. $ 135,000,000.00
(3) The Investor Interest set forth in paragraph C(2)(a)
above as a percentage of the aggregate amount of
Principal Receivables set forth in paragraph
C(1) above.............................. 19.89%
(4) The Class A Investor Interest set forth in paragraph
C(2)(b) above as a percentage of the aggregate amount
of Principal Receivables set forth in paragraph C(1)
above 17.00%
(5) The Class B Investor Interest set forth in paragraph
C(2)(c) above as a percentage of the aggregate amount
of Principal Receivables set forth in paragraph C(1)
above 1.09%
(6) The Collateral Interest set forth in paragraph C(2)(d)
above as a percentage of the aggregate amount of
Principal Receivables set forth in paragraph C(1)
above 1.79%
(7) The Class A Floating Percentage.......... 85.50%
(8) The Class B Floating Percentage.......... 5.50%
(9) The Class B Principal Percentage......... 5.50%
(10) The Collateral Floating Percentage...... 9.00%
(11) The Collateral Principal Percentage..... 9.00%
(12) The Floating Allocation Percentage...... 20.11%
(13) The Principal Allocation Percentage..... 20.11%
<PAGE>
D) Portfolio Yield and Base Rate
(1) The annualized Portfolio Yield for the preceding Monthly Period
was equal to............................. 18.11%
For the 17 Monthly Period (the 2nd
preceding Monthly Period), the annualized
portfolio yield was equal to............ 17.97%
For the 16 Monthly Period (the
3rd preceding Monthly Period), the annualized
portfolio yield was equal to............ 18.16%
The three month average Portfolio Yield was
equal to................................ 18.08%
(2) Base Rate for the preceding Monthly Period was equal to
......................................... 7.97%
For the 17 Monthly Period (the
2nd preceding Monthly Period), the Base Rate was
equal to................................ 7.98%
For the 16 Monthly Period (the 3rd
preceding Monthly Period), the Base Rate was
equal to................................ 7.978%
E) Delinquent Balances
The aggregate amount of outstanding balances in the Accounts which were
delinquent as of the end of the last day of the preceding Monthly
Period:
Aggregate As a Percentage
Account of Aggregate
Balance Receivables
(1) Upto 29 Days $ 419,855,880.46 5.44%
(2) 30 - 59 Days $ 123,526,094.52 1.60%
(3) 60 - 89 Days $ 79,132,735.74 1.03%
(4) 90 or More Days $ 164,401,287.55 2.13%
Total $ 786,915,998.27 10.20%
F) Investor Default Amount
(1) The aggregate amount of all defaulted Principal
Receivables written off as uncollectible with respect
to Billing Cycles ending during preceding Monthly Period
allocable to the Investor Interest less Recoveries allocable to the
Investor Interest (the "Series 1996-1 Aggregate Investor Default
Amount") ............................... $ 8,732,167.14
(2) The portion of the series 1996-1 Aggregate Investor
Default Amount allocable to the Class A Investor
Interest (the "Class A Investor Default Amount")
....................................... $ 7,466,002.90
(3) The portion of the Series 1996-1 Aggregate Investor
Default Amount allocable to the Class B Investor
Interest (the "Class B Investor Default Amount")
....................................... $ 480,269.19
(4) The portion of the Series 1996-1 Aggregate Investor
Default Amount allocable to the Collateral Investor
Interest (the "Collateral Investor Default Amount")
....................................... $ 785,895.05
<PAGE>
(5) The annualized investor default percentage (Series
1996-1 Aggregate Investor Default Amount/Investor
Interest) x 12 for the preceding Monthly Period was
equal to .............................. 6.99%
For the 18 Monthly Period (the 2nd
preceding Monthly Period), the annualized investor
default percentage was equal to .... 6.98%
For the 16 Monthly Period (the 3rd
preceding Monthly Period), the annualized investor
default percentage was equal to .... 8.40%
G) Investor Charge Offs
(1) The aggregate amount of Class A Investor Charge-Offs
for the preceding Monthly Period....... $ 0.00
(2) The aggregate Class A Charge Off per $1000 Original
Certificate Principal Amount .......... $ 0.00
(3) The aggregate amount of Class A Investor Charge-Offs
reimbursed on the Transfer Date immediately preceding
such Distribution Date................. $ 0.00
(4) The amount of the reimbursed Investor Charge-Offs set
forth in paragraph G(2) above, per $1,000 original
Class A Certificate principal amount... $ 0.00
(5) The aggregate amount of Class B Investor Charge-Offs
for such Monthly Period................ $ 0.00
(6) The aggregate Class B Charge Off per $1000 Original
Certificate Principal Amount .......... $ 0.00
(7) The aggregate amount of Class B Investor Charge-Offs
reimbursed on the Transfer Date immediately preceding
such Distribution Date................. $ 0.00
(8) The amount of the reimbursed Investor Charge-Offs set
forth in paragraph G(6) above, per $1,000 original
Class B Certificate principal amount... $ 0.00
(9) The aggregate amount of Investor Charge-Offs
....................................... $ 0.00
(10) The aggregate Investor Charge Off per $1000 Original
Certificate Principal Amount .......... $ 0.00
(11) The aggregate amount of reimbursed Investor Charge-Offs
....................................... $ 0.00
(12) The amount of the reimbursed Investor Charge-Offs set
forth in paragraph G(9) above, per $1,000 original
Investor principal amount.............. $ 0.00
<PAGE>
H) Shared Excess Finance Charge Collection
The aggregate amount of shared Excess Finance Charge Collections
during the preceding Monthly Period which were allocated to the
Series 1996-1 Certificates..................... $ 0.00
I) Shared Principal Collections
The aggregate amount of Shared Principal Collections during the
preceding Monthly Period allocated to the Series 1996-1
Certificates................................... $ 0.00
J) Reallocated Principal Collections
(1) Collections of Principal Receivables allocable to Class
B Certificates paid with respect to Class A
Certificates to make up deficiencies in Class A
Required Amount for any Monthly Period. $ 0.00
(2) Collections of Principal Receivables allocable to
Collateral Interest paid with respect to Class B
Certificates to make up deficiencies in Class B
Required Amount........................ $ 0.00
K) Monthly Investor Servicing Fee
(1) The amount of the Monthly Investor Servicing
Fee payable by the Trust to the Servicer for the preceding
Monthly Period......................... $ 2,687,500.00
(2) The amount of the Class A Monthly Servicing Fee payable
by the Trust for the preceding Monthly Period
....................................... $ 2,297,812.50
(3) The amount of the Class B Monthly Servicing Fee payable
by the Trust to the Servicer for the preceding Monthly
Period................................. $ 147,812.50
(4) The amount of the Collateral Monthly Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period......................... $ 241,875.00
L) Collateral Interest
(1) The Available Collateral Interest, as of the close of Transfer
Date for the preceding Monthly Period was equal to
....................................... $ 135,000,000.00
M) Required Collateral Interest
(1) The Required Collateral interest as of the Transfer
Date for the preceding Monthly Period was equal to
....................................... $ 135,000,000.00
III. THE POOL FACTOR
A) The Pool Factor for the Record Date for the distribution to be
made on the Distribution date (which represents the ratio of
the amount of the Investor Interest as of such Record Date
(determined after taking into account any reduction in the
Investor Interest which will occur on the Distribution Date)
to the Initial Investor Interest). The amount of a
Certificateholder's pro rata share of the Investor Interest can
be determined by multiplying the original denomination of the
Certificateholder's Certificate by the Pool Factor 1.00
<PAGE>
FORM OF MONTHLY CERTIFICATEHOLDERS' STATEMENT
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
Chase Manhattan Credit Card Master Trust Series 1996-2
For the August 15, 1997 Distribution Date
For Monthly Period 15
Under Section 5.02 of the Pooling and Servicing Agreement dated as of June
1, 1991 and the Series 1996-2 Supplement dated as of June 1, 1996 (together, the
"Agreement") by and between Chase Manhattan Bank USA, N.A. ("Chase") and
Yasuda Bank and Trust Company (U.S.A.), as trustee (the "Trustee"), Chase, as
Servicer, is required to prepare certain information each month regarding
current distributions to Series 1996-2 Certificateholders and the performance of
the Chase Manhattan Credit Card Master Trust (the "Trust") and the Series 1996-2
Class A Certificates and Series 1996-2 Class B Certificates during the previous
month. The information which is required to be prepared with respect to the
August 15, 1997 Distribution Date (the "Distribution Date") and with respect to
the performance of the Trust during the month July 1, 1997 (the "Preceding
Monthly Period") is set forth below. Certain of the information is presented on
the basis of an original principal amount of $1,000 per Series 1996-2 Investor
Certificate (a "Certificate"). Certain other information is presented based on
the aggregate amounts for the Trust as a whole. Capitalized terms used in this
Certificate have their respective meanings set forth in the Agreement.
I. INFORMATION REGARDING THE CURRENT MONTHLY DISTRIBUTION TO THE CLASS A
AND CLASS B CERTIFICATEHOLDERS (STATED ON THE BASIS OF $1,000 ORIGINAL
CERTIFICATE PRINCIPAL AMOUNT)
A) The total amount of the distribution to Series 1996-2
Certificateholders on August 15, 1997, per $1,000 original
certificate principal amount
(1) Class A Certificateholders.............. 15.058611
(2) Class B Certificateholders.............. 15.263056
B) The amount of the distribution set forth in paragraph 1 above
in respect of principal of the 1996-2 Certificates, per $1,000
original certificate principal amount
(1) Class A Certificateholders.............. 0.000000
(2) Class B Certificateholders.............. 0.000000
C) The amount of the distribution set forth in paragraph 1 above
in respect of interest on the 1996-2 Certificates, per $1,000
original certificate principal amount
(1) Class A Certificates.................... 15.058611
(2) Class B Certificates.................... 15.263056
II. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
A) Collections
(1) The aggregate amount of Collections processed with respect
to the preceding Monthly
Period and allocated to the Series 1996-2 Certificates
was equal to............................ $ 38,976,093.14
(2) The Payment Rate with respect to the preceding Monthly Period
was equal to............................ 12.73%
For 14 Monthly Period (the 2nd
preceding Monthly Period), the monthly payment rate was
equal to................................ 12.58%
For the 13 Monthly Period (the 3rd
preceding Monthly Period), the monthly payment
rate was equal to....................... 12.40%
<PAGE>
(3) The aggregate amount of Collections of Principal Receivables
processed with respect to the
preceding Monthly Period which were allocated in respect of
the Series 1996-2 Certificates ......... $ 34,499,572.51
(4) The aggregate amount of Collections of Finance Charge Receivables
processed with respect to the
preceding Monthly Period which were allocated in respect of the
Series 1996-2 Certificates.............. $ 4,476,520.63
B) Deficit Controlled Amortization Amount................. $ 0.00
C) Principal Receivables in the Trust and Allocation Percentages
(1) The aggregate amount of Principal Receivables in the Trust
as of the end of the preceding Monthly Period (which reflects
the Principal Receivables represented by the Seller Interest,
by the Investor Interest of Series 1996-2, and by the
Investor Interest of all other outstanding Series)
........................................ $ 7,542,315,410.43
(2) The Investor Interest as of the last day of the preceding
Monthly Period
(a) Investor Interest................... $ 296,703,296.70
(b) Class A Investor Interest........... $ 253,681,000.00
(c) Class B Investor Interest........... $ 16,318,000.00
(d) Collateral Interest................. $ 26,704,296.70
(3) The Investor Interest set forth in paragraph C(2)(a)
above as a percentage of the aggregate amount of
Principal Receivables set forth in paragraph
C(1) above.............................. 3.93%
(4) The Class A Investor Interest set forth in paragraph
C(2)(b) above as a percentage of the aggregate amount
of Principal Receivables set forth in paragraph C(1)
above .................................... 3.36%
(5) The Class B Investor Interest set forth in paragraph
C(2)(c) above as a percentage of the aggregate amount
of Principal Receivables set forth in paragraph C(1)
above ................................... 0.22%
(6) The Collateral Interest set forth in paragraph C(2)(d)
above as a percentage of the aggregate amount of
Principal Receivables set forth in paragraph C(1)
above .................................. 0.35%
(7) The Class A Floating Percentage.......... 85.50%
(8) The Class B Floating Percentage.......... 5.50%
(9) The Class B Principal Percentage......... 5.50%
(10) The Collateral Floating Percentage...... 9.00%
(11) The Collateral Principal Percentage..... 9.00%
(12) The Floating Allocation Percentage...... 3.98%
(13) The Principal Allocation Percentage..... 3.98%
<PAGE>
D) Portfolio Yield and Base Rate
(1) The annualized Portfolio Yield for the preceding Monthly Period
was equal to............................. 18.11%
For the 14 Monthly Period (the 2nd
preceding Monthly Period), the annualized
portfolio yield was equal to............. 17.97%
For the 13 Monthly Period (the
3rd preceding Monthly Period), the annualized
portfolio yield was equal to............. 18.16%
The three month average Portfolio Yield was
equal to................................. 18.08%
(2) Base Rate for the preceding Monthly Period was equal to
......................................... 8.06%
For the 14 Monthly Period (the
2nd preceding Monthly Period), the Base Rate was
equal to................................. 8.06%
For the 13 Monthly Period (the 3rd
preceding Monthly Period), the Base Rate was
equal to................................. 8.06%
E) Delinquent Balances
The aggregate amount of outstanding balances in the Accounts which were
delinquent as of the end of the last day of the preceding Monthly Period
by:
Aggregate As a Percentage
Account of Aggregate
Balance Receivables
(1) Upto 29 Days $ 419,855,880.46 5.44%
(2) 30 - 59 Days $ 123,526,094.52 1.60%
(3) 60 - 89 Days $ 79,132,735.74 1.03%
(4) 90 or More Days $ 164,401,287.55 2.13%
Total $ 786,915,998.27 10.20%
F) Investor Default Amount
(1) The aggregate amount of all defaulted Principal
Receivables written off as uncollectible with respect
to Billing Cycles ending during preceding Monthly Period
allocable to the Investor Interest less Recoveries
allocable to the Investor Interest (the "Series
1996-2 Aggregate Investor Default Amount")
........................................... $ 1,727,241.85
(2) The portion of the series 1996-2 Aggregate Investor
Default Amount allocable to the Class A Investor
Interest (the "Class A Investor Default Amount")
.......................................... $ 1,476,789.93
(3) The portion of the Series 1996-2 Aggregate Investor
Default Amount allocable to the Class B Investor
Interest (the "Class B Investor Default Amount")
.......................................... $ 94,994.34
<PAGE>
(4) The portion of the Series 1996-2 Aggregate Investor
Default Amount allocable to the Collateral Investor
Interest (the "Collateral Investor Default Amount")
.......................................... $ 155,457.58
(5) The annualized investor default percentage ((Series
1996-2 Aggregate Investor Default Amount/Investor
Interest) x 12) for the preceding Monthly Period was
equal to ................................. 6.99%
For the 15 Monthly Period (the 2nd
preceding Monthly Period), the annualized investor
default percentage was equal to ........... 6.98%
For the 13 Monthly Period (the 3rd
preceding Monthly Period), the annualized investor
default percentage was equal to ........... 8.40%
G) Investor Charge Offs
(1) The aggregate amount of Class A Investor Charge-Offs
for the preceding Monthly Period.......... $ 0.00
(2) The aggregate Class A Charge-Offs per $1000 Original
Certificate Principal Amount ............. $ 0.00
(3) The aggregate amount of Class A Investor Charge-Offs
reimbursed on the Transfer Date immediately preceding
such Distribution Date.................... $ 0.00
(4) The amount of the reimbursed Investor Charge-Offs set
forth in paragraph G(2) above, per $1,000 original
Class A Certificate principal amount....... $ 0.00
(5) The aggregate amount of Class B Investor Charge-Offs
for such Monthly Period................... $ 0.00
(6) The aggregate Class B Charge Off per $1000 Original
Certificate Principal Amount ............. $ 0.00
(7) The aggregate amount of Class B Investor Charge-Offs
reimbursed on the Transfer Date immediately preceding
such Distribution Date.................... $ 0.00
(8) The amount of the reimbursed Investor Charge-Offs set
forth in paragraph G(7) above, per $1,000 original
Class B Certificate principal amount....... $ 0.00
(9) The aggregate amount of Investor Charge-Offs
.......................................... $ 0.00
(10) The aggregate Investor Charge Off per $1000 Original
Certificate Principal Amount ............. $ 0.00
(11) The aggregate amount of reimbursed Investor Charge-Offs
......................................... $ 0.00
(12) The amount of the reimbursed Investor Charge-Offs set
forth in paragraph G(11) above, per $1,000 original
Investor principal amount.................. $ 0.00
H) Shared Excess Finance Charge Collection
The aggregate amount of shared Excess Finance Charge Collections
during the preceding Monthly Period which were allocated to the
Series 1996-2 Certificates........................ $ 0.00
<PAGE>
I) Shared Principal Collections
The aggregate amount of Shared Principal Collections during the
preceding Monthly Period which were allocated to the Series
1996-2 Certificates............................... $ 0.00
J) Reallocated Principal Collections
(1) Collections of Principal Receivables allocable to Class
B Certificates paid with respect to Class A
Certificates to make up deficiencies in Class A
Required Amount for any Monthly Period..... $ 0.00
(2) Collections of Principal Receivables allocable to
Collateral Interest paid with respect to Class B
Certificates to make up deficiencies in Class B
Required Amount............................ $ 0.00
K) Monthly Investor Servicing Fee
(1) The amount of the Monthly Investor Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period............................ $ 531,593.41
(2) The amount of the Class A Monthly Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period............................ $ 454,511.79
(3) The amount of the Class B Monthly Servicing Fee payable
by the Trust to the Servicer for the preceding Monthly
Period.................................... $ 29,236.42
(4) The amount of the Collateral Monthly Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period............................ $ 47,845.20
L) Collateral Interest
(1) The Available Collateral Interest, as of the close of Transfer
Date for the preceding Monthly Period was equal to
.......................................... $ 26,704,296.70
M) Required Collateral Interest
(1) The Required Collateral Interest as of the Transfer
Date for the preceding Monthly Period was equal to
.......................................... $ 26,704,296.70
III. THE POOL FACTOR
A) The Pool Factor for the Record Date for the distribution to be
made on the Distribution date (which represents the ratio of
the amount of the Investor Interest as of such Record Date
(determined after taking into account any reduction in the
Investor Interest which will occur on the Distribution Date)
to the Initial Investor Interest). The amount of a
Certificateholder's pro rata share of the Investor Interest can
be determined by multiplying the original denomination of the
Certificateholder's Certificate by the Pool Factor... 1.00
<PAGE>
FORM OF MONTHLY CERTIFICATEHOLDERS' STATEMENT
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
Chase Manhattan Credit Card Master Trust Series 1996-3
For the August 15, 1997 Distribution Date
For Monthly Period 14
Under Section 5.02 of the Pooling and Servicing Agreement dated as of June
1, 1991 and the Series 1996-3 Supplement dated as of June 1, 1996 (together, the
"Agreement") by and between Chase Manhattan Bank USA, N.A. ("Chase") and
Yasuda Bank and Trust Company (U.S.A.), as trustee (the "Trustee"), Chase, as
Servicer, is required to prepare certain information each month regarding
current distributions to Series 1996-3 Certificateholders and the performance of
the Chase Manhattan Credit Card Master Trust (the "Trust") and the Series 1996-3
Class A Certificates and Series 1996-3 Class B Certificates during the previous
month. The information which is required to be prepared with respect to the
August 15, 1997 Distribution Date (the "Distribution Date") and with respect to
the performance of the Trust during the month July 1, 1997 (the "Preceding
Monthly Period") is set forth below. Certain of the information is presented on
the basis of an original principal amount of $1,000 per Series 1996-3 Investor
Certificate (a "Certificate"). Certain other information is presented based on
the aggregate amounts for the Trust as a whole. Capitalized terms used in this
Certificate have their respective meanings set forth in the Agreement.
I. INFORMATION REGARDING THE CURRENT MONTHLY DISTRIBUTION TO THE CLASS A
AND CLASS B CERTIFICATEHOLDERS (STATED ON THE BASIS OF $1,000 ORIGINAL
CERTIFICATE PRINCIPAL AMOUNT)
A) The total amount of the distribution to Series 1996-3
Certificateholders on August 15, 1997, per $1,000 original
certificate principal amount
(1) Class A Certificateholders.............. 5.866667
(2) Class B Certificateholders.............. 6.008333
B) The amount of the distribution set forth in paragraph 1 above
in respect of principal of the 1996-3 Certificates, per $1,000
original certificate principal amount
(1) Class A Certificateholders.............. 0.000000
(2) Class B Certificateholders.............. 0.000000
C) The amount of the distribution set forth in paragraph 1 above
in respect of interest on the 1996-3 Certificates, per $1,000
original certificate principal amount
(1) Class A Certificates.................... 5.866667
(2) Class B Certificates.................... 6.008333
II. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
A) Collections
(1) The aggregate amount of Collections processed with respect
to the preceding Monthly
Period and allocated to the Series 1996-3 Certificates
was equal to............................ $ 140,496,257.58
(2) The Payment Rate with respect to the preceding Monthly Period
was equal to............................ 12.73%
For 13 Monthly Period (the 2nd
preceding Monthly Period), the monthly payment rate was
equal to................................ 12.58%
For the 12 Monthly Period (the 3rd
preceding Monthly Period), the monthly payment
rate was equal to....................... 12.40%
<PAGE>
(3) The aggregate amount of Collections of Principal Receivables
processed with respect to the
preceding Monthly Period which were allocated in respect of
the Series 1996-3 Certificates ......... $ 124,359,843.04
(4) The aggregate amount of Collections of Finance Charge Receivables
processed with respect to the
preceding Monthly Period which were allocated in respect of the
Series 1996-3 Certificates.............. $ 16,136,414.54
B) Deficit Controlled Amortization Amount................. $ 0.00
C) Principal Receivables in the Trust and Allocation Percentages
(1) The aggregate amount of Principal Receivables in the Trust
as of the end of the preceding Monthly Period (which reflects
the Principal Receivables represented by the Seller Interest,
by the Investor Interest of Series 1996-3, and by the
Investor Interest of all other outstanding Series)
........................................ $ 7,542,315,410.43
(2) The Investor Interest as of the last day of the preceding
Monthly Period
(a) Investor Interest................... $ 1,069,519,786.10
(b) Class A Investor Interest........... $ 957,220,000.00
(c) Class B Investor Interest........... $ 42,780,000.00
(d) Collateral Interest................. $ 69,519,786.10
(3) The Investor Interest set forth in paragraph C(2)(a)
above as a percentage of the aggregate amount of
Principal Receivables set forth in paragraph
C(1) above.............................. 14.18%
(4) The Class A Investor Interest set forth in paragraph
C(2)(b) above as a percentage of the aggregate amount
of Principal Receivables set forth in paragraph C(1)
above .................................... 12.69%
(5) The Class B Investor Interest set forth in paragraph
C(2)(c) above as a percentage of the aggregate amount
of Principal Receivables set forth in paragraph C(1)
above ................................... 0.57%
(6) The Collateral Interest set forth in paragraph C(2)(d)
above as a percentage of the aggregate amount of
Principal Receivables set forth in paragraph C(1)
above .................................. 0.92%
(7) The Class A Floating Percentage.......... 89.50%
(8) The Class B Floating Percentage.......... 4.00%
(9) The Class B Principal Percentage......... 4.00%
(10) The Collateral Floating Percentage...... 6.50%
(11) The Collateral Principal Percentage..... 6.50%
(12) The Floating Allocation Percentage...... 14.34%
(13) The Principal Allocation Percentage..... 14.34%
<PAGE>
D) Portfolio Yield and Base Rate
(1) The annualized Portfolio Yield for the preceding Monthly Period
was equal to............................. 18.11%
For the 13 Monthly Period (the 2nd
preceding Monthly Period), the annualized
portfolio yield was equal to............. 17.97%
For the 12 Monthly Period (the
3rd preceding Monthly Period), the annualized
portfolio yield was equal to............. 18.16%
The three month average Portfolio Yield was
equal to................................. 18.08%
(2) Base Rate for the preceding Monthly Period was equal to
......................................... 9.14%
For the 13 Monthly Period (the
2nd preceding Monthly Period), the Base Rate was
equal to................................. 9.14%
For the 12 Monthly Period (the 3rd
preceding Monthly Period), the Base Rate was
equal to................................. 9.14%
<PAGE>
E) Delinquent Balances
The aggregate amount of outstanding balances in the Accounts which were
delinquent as of the end of the last day of the preceding Monthly Period
by:
Aggregate As a Percentage
Account of Aggregate
Balance Receivables
(1) Upto 29 Days $ 419,855,880.46 5.44%
(2) 30 - 59 Days $ 123,526,094.52 1.60%
(3) 60 - 89 Days $ 79,132,735.74 1.03%
(4) 90 or More Days $ 164,401,287.55 2.13%
Total $ 786,915,998.27 10.20%
F) Investor Default Amount
(1) The aggregate amount of all defaulted Principal
Receivables written off as uncollectible with respect
to Billing Cycles ending during preceding Monthly Period
allocable to the Investor Interest less Recoveries
allocable to the Investor Interest (the "Series
1996-3 Aggregate Investor Default Amount")
........................................... $ 6,226,150.36
(2) The portion of the series 1996-3 Aggregate Investor
Default Amount allocable to the Class A Investor
Interest (the "Class A Investor Default Amount")
.......................................... $ 5,572,403.36
(3) The portion of the Series 1996-3 Aggregate Investor
Default Amount allocable to the Class B Investor
Interest (the "Class B Investor Default Amount")
.......................................... $ 249,041.41
<PAGE>
(4) The portion of the Series 1996-3 Aggregate Investor
Default Amount allocable to the Collateral Investor
Interest (the "Collateral Investor Default Amount")
.......................................... $ 404,705.59
(5) The annualized investor default percentage ((Series
1996-3 Aggregate Investor Default Amount/Investor
Interest) x 12) for the preceding Monthly Period was
equal to ................................. 6.99%
For the 14 Monthly Period (the 2nd
preceding Monthly Period), the annualized investor
default percentage was equal to ........... 6.98%
For the 12 Monthly Period (the 3rd
preceding Monthly Period), the annualized investor
default percentage was equal to ........... 8.40%
G) Investor Charge Offs
(1) The aggregate amount of Class A Investor Charge-Offs
for the preceding Monthly Period.......... $ 0.00
(2) The aggregate Class A Charge-Offs per $1000 Original
Certificate Principal Amount ............. $ 0.00
(3) The aggregate amount of Class A Investor Charge-Offs
reimbursed on the Transfer Date immediately preceding
such Distribution Date.................... $ 0.00
(4) The amount of the reimbursed Investor Charge-Offs set
forth in paragraph G(2) above, per $1,000 original
Class A Certificate principal amount....... $ 0.00
(5) The aggregate amount of Class B Investor Charge-Offs
for such Monthly Period................... $ 0.00
(6) The aggregate Class B Charge Off per $1000 Original
Certificate Principal Amount ............. $ 0.00
(7) The aggregate amount of Class B Investor Charge-Offs
reimbursed on the Transfer Date immediately preceding
such Distribution Date.................... $ 0.00
(8) The amount of the reimbursed Investor Charge-Offs set
forth in paragraph G(7) above, per $1,000 original
Class B Certificate principal amount....... $ 0.00
(9) The aggregate amount of Investor Charge-Offs
.......................................... $ 0.00
(10) The aggregate Investor Charge Off per $1000 Original
Certificate Principal Amount ............. $ 0.00
(11) The aggregate amount of reimbursed Investor Charge-Offs
......................................... $ 0.00
(12) The amount of the reimbursed Investor Charge-Offs set
forth in paragraph G(11) above, per $1,000 original
Investor principal amount.................. $ 0.00
H) Shared Excess Finance Charge Collection
The aggregate amount of shared Excess Finance Charge Collections
during the preceding Monthly Period which were allocated to the
Series 1996-3 Certificates........................ $ 0.00
<PAGE>
I) Shared Principal Collections
The aggregate amount of Shared Principal Collections during the
preceding Monthly Period which were allocated to the Series
1996-3 Certificates............................... $ 0.00
J) Reallocated Principal Collections
(1) Collections of Principal Receivables allocable to Class
B Certificates paid with respect to Class A
Certificates to make up deficiencies in Class A
Required Amount for any Monthly Period..... $ 0.00
(2) Collections of Principal Receivables allocable to
Collateral Interest paid with respect to Class B
Certificates to make up deficiencies in Class B
Required Amount............................ $ 0.00
K) Monthly Investor Servicing Fee
(1) The amount of the Monthly Investor Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period............................ $ 1,916,222.95
(2) The amount of the Class A Monthly Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period............................ $ 1,715,019.17
(3) The amount of the Class B Monthly Servicing Fee payable
by the Trust to the Servicer for the preceding Monthly
Period.................................... $ 76,647.50
(4) The amount of the Collateral Monthly Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period............................ $ 124,556.28
L) Collateral Interest
(1) The Available Collateral Interest, as of the close of Transfer
Date for the preceding Monthly Period was equal to
.......................................... $ 69,519,786.10
M) Required Collateral Interest
(1) The Required Collateral Interest as of the Transfer
Date for the preceding Monthly Period was equal to
.......................................... $ 69,519,786.10
III. THE POOL FACTOR
A) The Pool Factor for the Record Date for the distribution to be
made on the Distribution date (which represents the ratio of
the amount of the Investor Interest as of such Record Date
(determined after taking into account any reduction in the
Investor Interest which will occur on the Distribution Date)
to the Initial Investor Interest). The amount of a
Certificateholder's pro rata share of the Investor Interest can
be determined by multiplying the original denomination of the
Certificateholder's Certificate by the Pool Factor... 1.00
<PAGE>
FORM OF MONTHLY CERTIFICATEHOLDERS' STATEMENT
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
Chase Manhattan Credit Card Master Trust Series 1996-4
For the August 15, 1997 Distribution Date
For Monthly Period 14
Under Section 5.02 of the Pooling and Servicing Agreement dated as of June
1, 1991 and the Series 1996-4 Supplement dated as of June 1, 1996 (together, the
"Agreement") by and between The Chase Manhattan Bank USA, N.A. ("Chase") and
Yasuda Bank and Trust Company (U.S.A.), as trustee (the "Trustee"), Chase, as
Servicer, is required to prepare certain information each month regarding
current distributions to Series 1996-4 Certificateholders and the performance of
the Chase Manhattan Credit Card Master Trust (the "Trust") and the Series 1996-4
Class A Certificates and Series 1996-4 Class B Certificates during the previous
month. The information which is required to be prepared with respect to the
August 15, 1997 Distribution Date (the "Distribution Date") and with respect to
the performance of the Trust during the month July 1, 1997 (the "Preceding
Monthly Period") is set forth below. Certain of the information is presented on
the basis of an original principal amount of $1,000 per Series 1996-4 Investor
Certificate (a "Certificate"). Certain other information is presented based on
the aggregate amounts for the Trust as a whole. Capitalized terms used in this
Certificate have their respective meanings set forth in the Agreement.
I. INFORMATION REGARDING THE CURRENT MONTHLY DISTRIBUTION TO THE CLASS A
AND CLASS B CERTIFICATEHOLDERS (STATED ON THE BASIS OF $1,000 ORIGINAL
CERTIFICATE PRINCIPAL AMOUNT)
A) The total amount of the distribution to Series 1996-4
Certificateholders on August 15, 1997, per $1,000 original
certificate principal amount
(1) Class A Certificateholders.............. 5.608333
(2) Class B Certificateholders.............. 5.741667
B) The amount of the distribution set forth in paragraph 1 above
in respect of principal of the 1996-4 Certificates, per $1,000
original certificate principal amount
(1) Class A Certificateholders.............. 0.000000
(2) Class B Certificateholders.............. 0.000000
C) The amount of the distribution set forth in paragraph 1 above
in respect of interest on the 1996-4 Certificates, per $1,000
original certificate principal amount
(1) Class A Certificates.................... 5.608333
(2) Class B Certificates.................... 5.741667
II. INFORMATION REGARDING THE PERFORMANCE OF THE TRUST
A) Collections
(1) The aggregate amount of Collections processed with respect
to the preceding Monthly
Period and allocated to the Series 1996-4 Certificates
was equal to............................ $ 140,496,257.58
(2) The Payment Rate with respect to the preceding Monthly Period
was equal to............................ 12.73%
For 13 Monthly Period (the 2nd
preceding Monthly Period), the monthly payment rate was
equal to................................ 12.58%
For the 12 Monthly Period (the 3rd
preceding Monthly Period), the monthly payment
rate was equal to....................... 12.40%
(3) The aggregate amount of Collections of Principal Receivables
processed with respect to the
preceding Monthly Period which were allocated in respect of
the Series 1996-4 Certificates ......... $ 124,359,843.04
(4) The aggregate amount of Collections of Finance Charge Receivables
processed with respect to the
preceding Monthly Period which were allocated in respect of the
Series 1996-4 Certificates.............. $ 16,136,414.54
<PAGE>
B) Deficit Controlled Amortization Amount................. $ 0.00
C) Principal Receivables in the Trust and Allocation Percentages
(1) The aggregate amount of Principal Receivables in the Trust
as of the end of the preceding Monthly Period (which reflects
the Principal Receivables represented by the Seller Interest,
by the Investor Interest of Series 1996-4, and by the
Investor Interest of all other outstanding Series)
........................................ $ 7,542,315,410.43
(2) The Investor Interest as of the last day of the preceding
Monthly Period
(a) Investor Interest................... $ 1,069,519,786.10
(b) Class A Investor Interest........... $ 957,220,000.00
(c) Class B Investor Interest........... $ 42,780,000.00
(d) Collateral Interest................. $ 69,519,786.10
(3) The Investor Interest set forth in paragraph C(2)(a)
above as a percentage of the aggregate amount of
Principal Receivables set forth in paragraph
C(1) above.............................. 14.18%
(4) The Class A Investor Interest set forth in paragraph
C(2)(b) above as a percentage of the aggregate amount
of Principal Receivables set forth in paragraph C(1)
above .................................... 12.69%
(5) The Class B Investor Interest set forth in paragraph
C(2)(c) above as a percentage of the aggregate amount
of Principal Receivables set forth in paragraph C(1)
above ................................... 0.57%
(6) The Collateral Interest set forth in paragraph C(2)(d)
above as a percentage of the aggregate amount of
Principal Receivables set forth in paragraph C(1)
above .................................. 0.92%
(7) The Class A Floating Percentage.......... 89.50%
(8) The Class B Floating Percentage.......... 4.00%
(9) The Class B Principal Percentage......... 4.00%
(10) The Collateral Floating Percentage...... 6.50%
(11) The Collateral Principal Percentage..... 6.50%
(12) The Floating Allocation Percentage...... 14.34%
(13) The Principal Allocation Percentage..... 14.34%
<PAGE>
D) Portfolio Yield and Base Rate
(1) The annualized Portfolio Yield for the preceding Monthly Period
was equal to............................. 18.11%
For the 13 Monthly Period (the 2nd
preceding Monthly Period), the annualized
portfolio yield was equal to............. 17.97%
For the 12 Monthly Period (the
3rd preceding Monthly Period), the annualized
portfolio yield was equal to............. 18.16%
The three month average Portfolio Yield was
equal to................................. 18.08%
(2) Base Rate for the preceding Monthly Period was equal to
......................................... 8.84%
For the 13 Monthly Period (the
2nd preceding Monthly Period), the Base Rate was
equal to................................. 8.84%
For the 12 Monthly Period (the 3rd
preceding Monthly Period), the Base Rate was
equal to................................. 8.84%
E) Delinquent Balances
The aggregate amount of outstanding balances in the Accounts which were
delinquent as of the end of the last day of the preceding Monthly Period
by:
Aggregate As a Percentage
Account of Aggregate
Balance Receivables
(1) Upto 29 Days $ 419,855,880.46 5.44%
(2) 30 - 59 Days $ 123,526,094.52 1.60%
(3) 60 - 89 Days $ 79,132,735.74 1.03%
(4) 90 or More Days $ 164,401,287.55 2.13%
Total $ 786,915,998.27 10.20%
F) Investor Default Amount
(1) The aggregate amount of all defaulted Principal
Receivables written off as uncollectible with respect
to Billing Cycles ending during preceding Monthly Period
allocable to the Investor Interest less Recoveries
allocable to the Investor Interest (the "Series
1996-4 Aggregate Investor Default Amount")
........................................... $ 6,226,150.36
(2) The portion of the series 1996-4 Aggregate Investor
Default Amount allocable to the Class A Investor
Interest (the "Class A Investor Default Amount")
.......................................... $ 5,572,403.36
(3) The portion of the Series 1996-4 Aggregate Investor
Default Amount allocable to the Class B Investor
Interest (the "Class B Investor Default Amount")
.......................................... $ 249,041.41
(4) The portion of the Series 1996-4 Aggregate Investor
Default Amount allocable to the Collateral Investor
Interest (the "Collateral Investor Default Amount")
.......................................... $ 404,705.59
(5) The annualized investor default percentage ((Series
1996-4 Aggregate Investor Default Amount/Investor
Interest) x 12) for the preceding Monthly Period was
equal to ................................. 6.99%
For the 14 Monthly Period (the 2nd
preceding Monthly Period), the annualized investor
default percentage was equal to ........... 6.98%
For the 12 Monthly Period (the 3rd
preceding Monthly Period), the annualized investor
default percentage was equal to ........... 8.40%
<PAGE>
G) Investor Charge Offs
(1) The aggregate amount of Class A Investor Charge-Offs
for the preceding Monthly Period.......... $ 0.00
(2) The aggregate Class A Charge-Offs per $1000 Original
Certificate Principal Amount ............. $ 0.00
(3) The aggregate amount of Class A Investor Charge-Offs
reimbursed on the Transfer Date immediately preceding
such Distribution Date.................... $ 0.00
(4) The amount of the reimbursed Investor Charge-Offs set
forth in paragraph G(2) above, per $1,000 original
Class A Certificate principal amount....... $ 0.00
(5) The aggregate amount of Class B Investor Charge-Offs
for such Monthly Period................... $ 0.00
(6) The aggregate Class B Charge Off per $1000 Original
Certificate Principal Amount ............. $ 0.00
(7) The aggregate amount of Class B Investor Charge-Offs
reimbursed on the Transfer Date immediately preceding
such Distribution Date.................... $ 0.00
(8) The amount of the reimbursed Investor Charge-Offs set
forth in paragraph G(7) above, per $1,000 original
Class B Certificate principal amount....... $ 0.00
(9) The aggregate amount of Investor Charge-Offs
.......................................... $ 0.00
(10) The aggregate Investor Charge Off per $1000 Original
Certificate Principal Amount ............. $ 0.00
(11) The aggregate amount of reimbursed Investor Charge-Offs
......................................... $ 0.00
(12) The amount of the reimbursed Investor Charge-Offs set
forth in paragraph G(11) above, per $1,000 original
Investor principal amount.................. $ 0.00
H) Shared Excess Finance Charge Collection
The aggregate amount of shared Excess Finance Charge Collections
during the preceding Monthly Period which were allocated to the
Series 1996-4 Certificates........................ $ 0.00
I) Shared Principal Collections
The aggregate amount of Shared Principal Collections during the
preceding Monthly Period which were allocated to the Series
1996-4 Certificates............................... $ 0.00
J) Reallocated Principal Collections
(1) Collections of Principal Receivables allocable to Class
B Certificates paid with respect to Class A
Certificates to make up deficiencies in Class A
Required Amount for any Monthly Period..... $ 0.00
(2) Collections of Principal Receivables allocable to
Collateral Interest paid with respect to Class B
Certificates to make up deficiencies in Class B
Required Amount............................ $ 0.00
<PAGE>
K) Monthly Investor Servicing Fee
(1) The amount of the Monthly Investor Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period............................ $ 1,916,222.95
(2) The amount of the Class A Monthly Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period............................ $ 1,715,019.17
(3) The amount of the Class B Monthly Servicing Fee payable
by the Trust to the Servicer for the preceding Monthly
Period.................................... $ 76,647.50
(4) The amount of the Collateral Monthly Servicing Fee
payable by the Trust to the Servicer for the preceding
Monthly Period............................ $ 124,556.28
L) Collateral Interest
(1) The Available Collateral Interest, as of the close of Transfer
Date for the preceding Monthly Period was equal to
.......................................... $ 69,519,786.10
M) Required Collateral Interest
(1) The Required Collateral Interest as of the Transfer
Date for the preceding Monthly Period was equal to
.......................................... $ 69,519,786.10
III. THE POOL FACTOR
A) The Pool Factor for the Record Date for the distribution to be
made on the Distribution date (which represents the ratio of
the amount of the Investor Interest as of such Record Date
(determined after taking into account any reduction in the
Investor Interest which will occur on the Distribution Date)
to the Initial Investor Interest). The amount of a
Certificateholder's pro rata share of the Investor Interest can
be determined by multiplying the original denomination of the
Certificateholder's Certificate by the Pool Factor... 1.00
