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I. Collection
Account
Summary |
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|
|
Available Funds: |
|
|
|
|
|
|
|
|
|
Payments
Received |
|
|
|
|
|
$23,497,440.17 |
|
|
Liquidation
Proceeds
(excluding
Purchase
Amounts) |
|
|
|
|
|
$0.00 |
|
|
Current Monthly
Advances |
|
|
|
|
|
54,890.17 |
|
|
Amount of
withdrawal, if any,
from the Reserve
Account |
|
|
|
|
|
$0.00 |
|
|
Monthly Advance
Recoveries |
|
|
|
|
|
$0.00 |
|
|
Purchase
Amounts-Warranty and
Administrative
Receivables |
|
|
|
|
|
$269,486.33 |
|
|
Income from
investment of
funds in Trust
Accounts |
|
|
|
|
|
$6,227.13 |
|
Total Available
Funds |
|
|
|
|
|
|
$23,828,043.80 |
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|
|
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|
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|
Amounts Payable
on Distribution
Date: |
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|
|
1. Trustee and
other fees |
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|
|
|
$0.00 |
|
|
2. Servicing Fee |
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|
|
|
|
$868,070.40 |
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|
3. Class A Interest
Distributable
Amount |
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|
|
|
|
|
|
Class A-1 Interest |
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|
|
|
$985,262.50 |
|
|
Class A-2 Interest |
|
|
|
|
|
$456,805.56 |
|
|
Class A-3 Interest |
|
|
|
|
|
$1,525,902.78 |
|
|
4. First Priority
Principal
Distribution
Amount |
|
|
|
|
|
$0.00 |
|
|
5. Class M
Interest
Distributable
Amount |
|
|
|
|
|
$336,818.28 |
|
|
6. Second Priority
Principal
Distribution
Amount |
|
|
|
|
|
$0.00 |
|
|
7. Class B Interest
Distributable
Amount |
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|
|
|
|
$464,454.94 |
|
|
8. Reserve
Account Deposit |
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|
|
|
|
$0.00 |
|
|
9. Regular
Principal
Distribution
Amount |
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|
|
|
$19,190,729.34 |
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10. Certificate
Distribution
Amount |
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|
|
|
$0.00 |
|
Total Amounts
Payable on
Distribution Date |
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|
|
|
|
$23,828,043.80 |
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|
Less: Servicing
Fee |
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|
($868,070.40) |
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Less: Investment
Income |
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($6,227.13) |
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Net Payment to
Trustee |
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|
$22,953,746.27 |
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II. Available Funds |
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Collected Funds
(see IV) |
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Payments
Received |
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|
$23,497,440.17 |
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Liquidation
Proceeds
(excluding
Purchase
Amounts) |
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- |
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Purchase Amounts |
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|
$269,486.33 |
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|
|
|
|
|
|
Monthly Advances
- current Monthly
Period (net) |
|
|
|
|
|
|
$54,890.17 |
|
|
|
|
|
|
|
|
|
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Income from
investment of funds
in Trust Accounts |
|
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|
|
|
|
$6,227.13 |
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Available Funds |
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|
$23,828,043.80 |
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III. Amounts
Payable on
Distribution Date |
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a. |
Taxes due and
unpaid with
respect to the
Trust |
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$0.00 |
|
(not otherwise
paid by AFL or the
Servicer) |
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b. |
Outstanding
Monthly Advances
(not otherwise
reimbursed |
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$0.00 |
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to Servicer and to
be reimbursed on
the Distribution
Date) |
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c. |
Accrued and
unpaid fees (not
otherwise paid by
AFL or the
Servicer): |
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Owner Trustee |
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$0.00 |
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Administrator |
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$0.00 |
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Indenture Trustee |
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$0.00 |
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Lockbox Bank |
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$0.00 |
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Custodian |
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$0.00 |
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d. |
Basic Servicing
Fee (not
otherwise paid to
Servicer) |
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|
$868,070.40 |
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e. |
Supplemental
Servicing Fees
(not otherwise
paid to Servicer) |
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$0.00 |
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g. |
Payable from
Note Interest
Distribution
Account |
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|
Class A-1 Interest
Distributable
Amount |
|
|
|
|
|
$985,262.50 |
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|
Class A-2 Interest
Distributable
Amount |
|
|
|
|
|
$456,805.56 |
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|
Class A-3 Interest
Distributable
Amount |
|
|
|
|
|
$1,525,902.78 |
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|
Class M Interest
Distributable
Amount |
|
|
|
|
|
$336,818.28 |
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|
Class B Interest
Distributable
Amount |
|
|
|
|
|
$464,454.94 |
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h. |
Payable from
Note Principal
Distribution
Account |
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Payable to Class
A-1 Noteholders |
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|
$19,190,729.34 |
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|
Payable to Class
A-2 Noteholders |
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|
$0.00 |
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|
Payable to Class
A-3 Noteholders |
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|
$0.00 |
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Payable to Class
M Noteholders |
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|
$0.00 |
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Payable to Class
B Noteholders |
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|
$0.00 |
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I. |
Reserve Account
Deposit |
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$0.00 |
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|
Total amounts
payable on
Distribution Date |
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|
$23,828,043.80 |
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IV. Collected
Funds |
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Payments
Received: |
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|
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|
Supplemental
Servicing Fees |
|
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|
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|
$0.00 |
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|
Amount allocable
to interest |
|
|
|
|
|
$12,606,552.98 |
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|
Amount allocable
to principal |
|
|
|
|
|
$10,890,887.19 |
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|
Amount allocable
to Insurance
Add-On Amounts |
|
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|
$0.00 |
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Amount allocable
to Outstanding
Monthly Advances
(reimbursed |
|
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|
$0.00 |
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to the Servicer
prior to deposit in
the Collection
Account) |
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Total Payments
Received |
|
|
|
|
|
|
$23,497,440.17 |
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|
|
|
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Liquidation
Proceeds: |
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|
|
|
|
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|
|
Gross amount
realized with
respect to
Liquidated
Receivables |
|
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|
$0.00 |
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|
|
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|
Less: (i) reasonable
expenses incurred
by Servicer |
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|
$0.00 |
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|
in connection with
the collection of
such Liquidated |
|
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|
|
Receivables and
the repossession
and disposition |
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|
of the related
Financed Vehicles
and (ii) amounts
required to |
|
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|
be refunded to
Obligors on such
Liquidated
Receivables |
|
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|
Net Liquidation
Proceeds |
|
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|
|
|
$0.00 |
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|
|
Total Collected
Funds |
|
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|
|
|
|
$23,497,440.17 |
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|
V. Purchase
Amounts
Deposited in
Collection
Account |
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|
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|
|
Purchase Amounts -
Warranty
Receivables |
|
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|
|
|
|
$269,486.33 |
|
Purchase
Amounts -
Administrative
Receivables |
|
|
|
|
|
|
$0.00 |
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|
|
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|
Total Purchase
Amounts |
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|
|
|
|
$269,486.33 |
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VI. Reimbursement
of Outstanding
Monthly Advances |
|
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|
|
|
|
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|
|
|
Outstanding
Monthly Advances |
|
|
|
|
|
|
$0.00 |
|
|
|
|
|
|
|
|
|
|
Outstanding
Monthly Advances
to be reimbursed
out of |
|
|
|
|
|
|
$54,890.17 |
|
Available Funds
on the Distribution
Date |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Monthly Advances
- Recoveries |
|
|
|
|
|
|
$0.00 |
|
|
|
|
|
|
|
|
|
|
Outstanding
Monthly Advances
- immediately
following the
Distribution Date |
|
|
|
|
|
|
54,890.17 |
|
|
|
|
|
|
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|
|
VII. Calculation of
Interest and
Principal
Payments |
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|
A. Calculation of
Class A-1 Interest
Distributable
Amount |
|
|
|
|
|
|
|
|
|
Class A-1 Interest
Rate |
|
|
|
|
|
|
6.854% |
|
Actual Days in
Period |
|
|
|
|
|
|
25 |
|
Class A-1
Balance |
|
|
|
|
|
|
$207,000,000.00 |
|
Class A-1 Interest
Carryover
Shortfall |
|
|
|
|
|
|
$0.00 |
|
Class A-1 Interest
Distributable
Amount |
|
|
|
|
|
|
$985,262.50 |
|
|
|
|
|
|
|
|
|
B. Calculation of
Class A-2 Interest
Distributable
Amount |
|
|
|
|
|
|
|
|
|
Class A-2 Interest
Rate |
|
|
|
|
|
|
7.15% |
|
Days in Period
(30/360
convention) |
|
|
|
|
|
|
25 |
|
Class A-2
Balance |
|
|
|
|
|
|
$92,000,000.00 |
|
Class A-2 Interest
Carryover
Shortfall |
|
|
|
|
|
|
$0.00 |
|
Class A-2 Interest
Distributable
Amount |
|
|
|
|
|
|
$456,805.56 |
|
|
|
|
|
|
|
|
|
C. Calculation of
Class A-3 Interest
Distributable
Amount |
|
|
|
|
|
|
|
|
|
Class A-3 Interest
Rate |
|
|
|
|
|
|
7.30% |
|
Days in Period
(30/360
convention) |
|
|
|
|
|
|
25 |
|
Class A-3
Balance |
|
|
|
|
|
|
$301,000,000.00 |
|
Class A-3 Interest
Carryover
Shortfall |
|
|
|
|
|
|
$0.00 |
|
Class A-3 Interest
Distributable
Amount |
|
|
|
|
|
|
$1,525,902.78 |
|
|
|
|
|
|
|
|
|
D. Calculation of
Class M Interest
Distributable
Amount |
|
|
|
|
|
|
|
|
|
Class M Interest
Rate |
|
|
|
|
|
|
7.51% |
|
Days in Period
(30/360
convention) |
|
|
|
|
|
|
25 |
|
Class M Balance |
|
|
|
|
|
|
$64,583,000.00 |
|
Class M Interest
Carryover
Shortfall |
|
|
|
|
|
|
$0.00 |
|
Class M Interest
Distributable
Amount |
|
|
|
|
|
|
$336,818.28 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
E. Calculation of
Class B Interest
Distributable
Amount |
|
|
|
|
|
|
|
|
|
Class B Interest
Rate |
|
|
|
|
|
|
7.83% |
|
Days in Period
(30/360
convention) |
|
|
|
|
|
|
25 |
|
Class B Balance |
|
|
|
|
|
|
$85,417,000.00 |
|
Class B Interest
Carryover
Shortfall |
|
|
|
|
|
|
$0.00 |
|
Class B Interest
Distributable
Amount |
|
|
|
|
|
|
$464,454.94 |
|
|
|
|
|
|
|
|
|
F. Calculation of
First Priority
Principal
Distribution
Amount |
|
|
|
|
|
|
|
|
|
Class A Note
Balance |
|
|
|
|
|
|
$600,000,000.00 |
|
Pool Balance at
End of Preceding
Collection Period |
|
|
|
|
|
|
$833,347,584.32 |
|
Outstanding
Balance of any
Class of A Notes
on or after the
related Final
Maturity Date |
|
|
|
|
|
|
|
|
First Priority
Principal
Distribution
Amount |
|
|
|
|
|
|
$0.00 |
|
|
|
|
|
|
|
|
|
G. Calculation of
Second Priority
Principal
Distribution
Amount |
|
|
|
|
|
|
|
|
|
Class A + Class
M Note Balance |
|
|
|
|
|
|
$664,583,000.00 |
|
Pool Balance at
End of Preceding
Collection Period |
|
|
|
|
|
|
$833,347,584.32 |
|
First Priority
Principal
Distribution
Amount |
|
|
|
|
|
|
$0.00 |
|
Outstanding
Balance of the
Class M Notes on
or after the related
Final Maturity
Date |
|
|
|
|
|
|
|
|
Second Priority
Principal
Distribution
Amount |
|
|
|
|
|
|
$0.00 |
|
|
|
|
|
|
|
|
|
H. Regular
Principal
Distribution
Amount |
|
|
|
|
|
|
|
|
|
Class A-1
Outstanding
Principal Balance |
|
|
|
|
|
|
$207,000,000.00 |
|
Aggregate Note
Balance |
|
|
|
|
|
|
$750,000,000.00 |
|
Pool Balance at
End of Preceding
Collection Period |
|
|
|
|
|
|
$833,347,584.32 |
|
Specified
Overcollateralization Amount |
|
|
|
|
|
|
$89,584,865.31 |
|
Sum of First and
Second Priority
Principal
Distribution
Amounts |
|
|
|
|
|
|
$0.00 |
|
Outstanding
Balance of the
Class B Notes on
or after the related
Final Maturity
Date |
|
|
|
|
|
|
|
|
Regular Principal
Distribution
Amount |
|
|
|
|
|
|
$207,000,000.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
I. Interest
Distribution
Amount |
|
|
|
|
|
|
|
|
|
Class A-1 Interest
Distributable
Amount |
|
|
|
|
|
|
$985,262.50 |
|
Class A-2 Interest
Distributable
Amount |
|
|
|
|
|
|
$456,805.56 |
|
Class A-3 Interest
Distributable
Amount |
|
|
|
|
|
|
$1,525,902.78 |
|
Class M Interest
Distributable
Amount |
|
|
|
|
|
|
$336,818.28 |
|
Class B Interest
Distributable
Amount |
|
|
|
|
|
|
$464,454.94 |
|
Total Interest
Distributable
Amount |
|
|
|
|
|
|
$3,769,244.06 |
|
|
|
|
|
|
|
|
|
J. Principal
Distribution
Amount |
|
|
|
|
|
|
|
|
|
First Priority
Principal
Distribution
Amount |
|
|
|
|
|
|
$0.00 |
|
Second Priority
Principal
Distribution
Amount |
|
|
|
|
|
|
$0.00 |
|
Regular Principal
Distribution
Amount |
|
|
|
|
|
|
$207,000,000.00 |
|
Principal
Distribution
Amount |
|
|
|
|
|
|
$207,000,000.00 |
|
|
|
|
|
|
|
|
|
VIII. Reserve
Account
Computations |
|
|
|
|
|
|
|
|
|
Reserve Account
Balance at
Beginning of
Period |
|
|
|
|
|
|
$4,166,737.92 |
|
Reserve Draw |
|
|
|
|
|
|
$0.00 |
|
Specified Reserve
Account Balance |
|
|
|
|
|
|
$4,166,737.92 |
|
Required Deposit
to Reserve
Account |
|
|
|
|
|
|
$0.00 |
|
|
|
|
|
|
|
|
|
IX. Specified
Credit
Enhancement
Amount |
|
|
|
|
|
|
|
$93,751,603.24 |
|
|
|
|
|
|
|
|
|
X. Specified
Overcollateralization Amount |
|
|
|
|
|
|
|
$89,584,865.31 |
|
|
|
|
|
|
|
|
|
XI. Calculation of
Servicing Fees |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aggregate Principal
Balance as of the
first day of the
Monthly Period |
|
|
|
|
|
|
$833,347,584.32 |
|
Multiplied by
Basic Servicing
Fee Rate |
|
|
|
|
|
|
1.25% |
|
Divided by
months per year |
|
|
|
|
|
|
12 |
|
|
|
|
|
|
|
|
|
|
Basic Servicing Fee |
|
|
|
|
|
|
$868,070.40 |
|
Supplemental
Servicing Fees |
|
|
|
|
|
|
$0.00 |
|
Total of Basic
Servicing Fees
and Supplemental
Servicing Fees |
|
|
|
|
|
|
$868,070.40 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
XII. Payment
Waterfall |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts Payable
on Distribution
Date: |
|
|
|
|
|
|
|
|
|
1. Reimbursement
of Monthly
Advances |
|
|
|
|
|
$0.00 |
|
|
2. Trustee and
other fees |
|
|
|
|
|
$0.00 |
|
|
3. Servicing Fee |
|
|
|
|
|
$868,070.40 |
|
|
4. Class A Interest
Distributable
Amount |
|
|
|
|
|
|
|
|
Class A-1 Interest |
|
|
|
|
|
$985,262.50 |
|
|
Class A-2 Interest |
|
|
|
|
|
$456,805.56 |
|
|
Class A-3 Interest |
|
|
|
|
|
$1,525,902.78 |
|
|
5. First Priority
Principal
Distribution
Amount |
|
|
|
|
|
$0.00 |
|
|
6. Class M
Interest
Distributable
Amount |
|
|
|
|
|
$336,818.28 |
|
|
7. Second Priority
Principal
Distribution
Amount |
|
|
|
|
|
$0.00 |
|
|
8. Class B Interest
Distributable
Amount |
|
|
|
|
|
$464,454.94 |
|
|
9. Reserve
Account Deposit |
|
|
|
|
|
$0.00 |
|
|
10. Regular
Principal
Distribution
Amount |
|
|
|
|
|
$19,190,729.34 |
|
|
11. Certificate
Distribution
Amount |
|
|
|
|
|
$0.00 |
|
Total Amounts
Payable on
Distribution Date |
|
|
|
|
|
|
$23,828,043.80 |
|
|
|
|
|
|
|
|
|
XIII. Information
for Preparation of
Statements to
Noteholders |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
a. Aggregate
principal balance of
the Notes as of first
day of Monthly
Period |
|
|
|
|
|
|
|
|
|
Class A-1 Notes |
|
|
|
|
|
$207,000,000.00 |
|
|
Class A-2 Notes |
|
|
|
|
|
$92,000,000.00 |
|
|
Class A-3 Notes |
|
|
|
|
|
$301,000,000.00 |
|
|
Class M Notes |
|
|
|
|
|
$64,583,000.00 |
|
|
Class B Notes |
|
|
|
|
|
$85,417,000.00 |
|
|
|
|
|
|
|
|
|
|
b. Amount
distributed to
Noteholders
allocable to
principal |
|
|
|
|
|
|
|
|
|
Class A-1 Notes |
|
|
|
|
|
$19,190,729.34 |
|
|
Class A-2 Notes |
|
|
|
|
|
$0.00 |
|
|
Class A-3 Notes |
|
|
|
|
|
$0.00 |
|
|
Class M Notes |
|
|
|
|
|
$0.00 |
|
|
Class B Notes |
|
|
|
|
|
$0.00 |
|
|
|
|
|
|
|
|
|
|
c. Aggregate
principal balance of
the Notes (after
giving effect to
distributions on the
Distribution Date) |
|
|
|
|
|
|
|
|
|
Class A-1 Notes |
|
|
|
|
|
$187,809,270.66 |
|
|
Class A-2 Notes |
|
|
|
|
|
$92,000,000.00 |
|
|
Class A-3 Notes |
|
|
|
|
|
$301,000,000.00 |
|
|
Class M Notes |
|
|
|
|
|
$64,583,000.00 |
|
|
Class B Notes |
|
|
|
|
|
$85,417,000.00 |
|
|
|
|
|
|
|
|
|
|
d. Interest
distributed to
Noteholders |
|
|
|
|
|
|
|
|
|
Class A-1 Notes |
|
|
|
|
|
$985,262.50 |
|
|
Class A-2 Notes |
|
|
|
|
|
$456,805.56 |
|
|
Class A-3 Notes |
|
|
|
|
|
$1,525,902.78 |
|
|
Class M Notes |
|
|
|
|
|
$336,818.28 |
|
|
Class B Notes |
|
|
|
|
|
$464,454.94 |
|
|
|
|
|
|
|
|
|
|
e. 1. Class A-1 Interest Carryover Shortfall, if any (and change in amount from preceding statement) |
$0.00 |
|
2. Class A-2 Interest Carryover Shortfall, if any (and change in amount from preceding statement) |
$0.00 |
|
3. Class A-3 Interest Carryover Shortfall, if any (and change in amount from preceding statement) |
$0.00 |
|
4. Class M Interest Carryover Shortfall, if any (and change in amount from preceding statement) |
$0.00 |
|
5. Class B Interest Carryover Shortfall, if any (and change in amount from preceding statement) |
$0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
g. Total of Basic
Servicing Fee,
Supplemental
Servicing Fees and
other fees, if any,
paid by the Trustee |
|
|
|
|
|
|
|
|
on behalf of the
Trust |
|
|
|
|
|
|
$868,070.40 |
|
|
|
|
|
|
|
|
|
|
h. Note Pool
Factors (after
giving effect to
distributions on the
Distribution Date) |
|
|
|
|
|
|
|
|
|
Class A-1 Notes |
|
|
|
|
|
90.73% |
|
|
Class A-2 Notes |
|
|
|
|
|
100.00% |
|
|
Class A-3 Notes |
|
|
|
|
|
100.00% |
|
|
Class M Notes |
|
|
|
|
|
100.00% |
|
|
Class B Notes |
|
|
|
|
|
100.00% |
|
|
|
|
|
|
|
|
|
XIV. Pool Balance
and Aggregate
Principal Balance |
|
|
|
|
|
|
|
|
|
Pool Balance at
beginning of
Monthly Period |
|
|
|
|
|
|
$833,347,584.32 |
|
Pool Balance at
end of Monthly
Period |
|
|
|
|
|
|
$822,187,210.80 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Monthly Period
Liquidated
Receivables |
|
|
|
|
Monthly Period
Warranty
Receivables |
|
|
|
|
|
|
|
|
|
|
|
|
Loan # |
|
|
Amount |
|
|
Loan # |
|
Amount |
see attached
listing |
|
|
$0.00 |
|
|
see attached
listing |
|
$269,486.33 |
|
|
|
|
|
|
|
|
|
XV. Performance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Original Pool
Balance |
|
|
|
|
|
|
$833,347,584.32 |
|
Current Pool
Balance |
|
|
|
|
|
|
$822,187,210.80 |
|
Age of the Pool
(months) |
|
|
|
|
|
|
1 |
|
|
|
|
|
|
|
|
|
Delinquency Rate |
|
|
|
|
|
|
|
|
|
Sum of Principal
Balance of
Accounts 30 or
more Days
Delinquent |
|
|
|
|
|
|
$4,362,696.92 |
|
Delinquency Ratio |
|
|
|
|
|
|
0.53% |
|
|
|
|
|
|
|
|
|
Default Rate |
|
|
|
|
|
|
|
|
|
Cumulative
balance of
defaults as of the
current
Accounting Date |
|
|
|
|
|
|
$0.00 |
|
|
|
|
|
|
|
|
|
|
Sum of Principal
Balances of
Receivables that
became Liquidated
Receivables |
|
|
|
|
|
|
$269,486.33 |
|
during the
Monthly Period or
that became
Purchased
Receivables
during Monthly
Period |
|
|
|
|
|
|
|
|
(if delinquent
more than 30
days with respect
to any portion of a
Scheduled
Payment at time |
|
|
|
|
|
|
|
|
of purchase) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative balance
of defaults as of the
current Accounting
Date |
|
|
|
|
|
|
$269,486.33 |
|
|
|
|
|
|
|
|
|
Net Loss Rate |
|
|
|
|
|
|
|
|
|
Cumulative net
losses as of the
preceding
Accounting Date |
|
|
|
|
|
|
$0.00 |
|
|
|
|
|
|
|
|
|
|
Aggregate of
Principal Balances
as of the
Accounting Date |
|
|
|
|
|
|
$1,813.06 |
|
(plus accrued and
unpaid interest
thereon to the end
of the |
|
|
|
|
|
|
|
|
Monthly Period) of
all Receivables
that became
Liquidated |
|
|
|
|
|
|
|
|
Receivables or
that became
Purchased
Receivables |
|
|
|
|
|
|
|
|
and that were
delinquent more
than 30 days with |
|
|
|
|
|
|
|
|
respect to any
portion of a
Scheduled
Payment as of the
|
|
|
|
|
|
|
|
|
Accounting Date |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liquidation
Proceeds Received
by Trust |
|
|
|
|
|
|
$0.00 |
|
|
|
|
|
|
|
|
|
|
Cumulative net
losses as of the
current Accounting
Date |
|
|
|
|
|
|
$1,813.06 |