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Previous: DEFINED ASSET FUNDS MUNICIPAL INVT TR FD INTERM TERM SER 189, 24F-2NT, 1999-06-30 |
Next: CHASE MANHATTAN BANK USA, 8-K, 1999-06-30 |
<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 15, 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 jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
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 June 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. A copy of the applicable Monthly Report, as defined in the Agreement,
has been furnished to Certificateholders in accordance with the Agreement.
A copy of the Monthly Report is being filed as Exhibit 20.1 to this
Current Report on Form 8-K.
Item 7(c). Exhibits
Exhibits Description
-------- -----------
20.1 Monthly Report with respect to the
June 15, 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 30, 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 Report with respect to
the June 15, 1999 distribution
<PAGE>
CHASE MANHATTAN RV OWNER TRUST 1997-A
MONTHLY SERVICER'S REPORT
<TABLE>
<CAPTION>
Settlement Date 5/31/99
Determination Date 6/10/99
Distribution Date 6/15/99
<S> <C> <C>
I. All Payments on the Contracts 18,136,569.81
II. All Liquidation Proceeds on the Contracts with respect to Principal 457,174.00
III. Repurchased Contracts 0.00
IV. Investment Earnings on Collection Account 0.00
V. Servicer Monthly Advances 398,932.31
VI. Distribution from the Reserve Account 0.00
VII. Deposits from the Pay-Ahead Account (including Investment Earnings) 181,797.48
VIII. Transfers to the Pay-Ahead Account (113,419.68)
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 $19,061,053.92
==============
<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 510,583.68
(b) Class A-5 Note Principal Distribution 15,383,306.01
Aggregate Class A-5 Note Distribution 120.40825522 15,893,889.69
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>
<CAPTION>
<S> <C> <C>
(a) Servicing Fee 209,236.70
(b) Reimbursement of prior Monthly Advances 271,884.34
Total Servicer Payment 481,121.04
13. Deposits to the Reserve Account 592,580.55
Total Distribution Amount $19,061,053.92
==============
Reserve Account distributions:
- --------------------------------------
(a) Amounts to the Sellers (Chase USA) from
Excess Collections 76,028.08
(b) Amounts to the Sellers (Chase Manhattan Bank)
from Excess Collections 516,552.47
(c) Distribution from the Reserve Account to the
Sellers(Chase USA) 44,793.02
(d) Distribution from the Reserve Account to the
Sellers(Chase Manhattan Bank) 304,334.19
Total Amounts to Sellers(Chase USA & Chase Manhattan Bank) = $ 941,707.76
==============
<CAPTION>
<S> <C> <C> <C>
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% 510,583.68
(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 2,359,367.01
(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 3.86805817 510,583.68
(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 2,359,367.01
(k) Class B Certificates 5.45000000 244,679.31
PRINCIPAL
- -------------------------------------------- No. of Contracts
-----------------------
1. Amount of Stated Principal Collected 4,764,013.15
2. Amount of Principal Prepayment Collected 446 9,784,019.13
3. Amount of Liquidated Contract 25 835,273.73
4. Amount of Repurchased Contract 0 0.00
Total Formula Principal Distribution Amount 15,383,306.01
5. Principal Balance before giving effect to Pool Factor
Principal Distribution -------------
(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>
<CAPTION>
<S> <C> <C> <C>
(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
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 116.54019705 15,383,306.01
(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 Pool Factor
Principal Distribution ---------------
(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 0.6506780 85,889,489.71
(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>
<S> <C> <C> <C>
POOL DATA Aggregate
- ------------------------------------------- No. of Contracts Principal Balance
------------------- -----------------
1. Pool Stated Principal Balance as of 5/31/99 17,375 486,784,775.25
2. Delinquency Information % Delinquent
------------
(a) 31-59 Days 130 3,411,868.89 0.701%
(b) 60-89 Days 53 1,468,392.99 0.302%
(c) 90-119 Days 17 445,123.83 0.091%
(d) 120 Days + 117 3,101,269.77 0.637%
3. Contracts Repossessed during the Due Period 19 568,418.90
4. Current Repossession Inventory 50 1,891,684.28
5. Aggregate Net Losses for the preceding
Collection Period
(a) Aggregate Principal Balance of Liquidated
Receivables 25 835,273.73
(b) Net Liquidation Proceeds on any Liquidated
Receivables 457,174.00
---------------
Total Aggregate Net Losses for the preceding
Collection Period 378,099.73
6. Aggregate Losses on all Liquidated Receivables
(Year-To-Date) 2,502,212.86
7. Aggregate Net Losses on all Liquidated Receivables
(Life-To-Date) 399 5,787,477.37
8. Weighted Average Contract Rate of all Outstanding
Contracts 9.261%
9. Weighted Average Remaining Term to Maturity of all
Outstanding Contracts 111.690
</TABLE>
Page 3 of 4
<PAGE>
<TABLE>
<CAPTION>
TRIGGER ANALYSIS
- --------------------------------------------
<S> <C> <C> <C> <C>
1. (a) Average Delinquency Percentage 1.459%
(b) Delinquency Percentage Trigger in effect? NO
2. (a) Average Net Loss Ratio 0.086%
(b) Net Loss Ratio Trigger in effect? NO
(c) Net Loss Ratio (using ending Pool Balance) 0.116%
3. (a) Servicer Replacement Percentage 0.855%
(b) Servicer Replacement Trigger in effect? NO
<CAPTION>
MISCELLANEOUS
- --------------------------------------------
<S> <C> <C>
1. Monthly Servicing Fees 209,236.70
2. Servicer Advances 398,932.31
3. (a) Opening Balance of the Reserve Account 10,043,361.63
(b) Deposits to the Reserve Account 592,580.55
(c) Investment Earnings in the Reserve Account 41,461.09
(d) Distribution from the Reserve Account (941,707.76)
(e) Ending Balance of the Reserve Account 9,735,695.51
4. Specified Reserve Account Balance 9,735,695.51
5. (a) Opening Balance in the Pay-Ahead Account 512,968.44
(b) Deposits to the Pay-Ahead Account from the
Collection Account 113,419.68
(c) Investment Earnings in the Pay-Ahead Account 0.00
(d) Transfers from the Pay-Ahead Account to the
Collection Account (181,797.48)
(e) Ending Balance in the Pay-Ahead Account 444,590.64
</TABLE>
Page 4 of 4
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