<PAGE>
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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 (Date of Earliest Event Reported) November 15, 1998
CASE RECEIVABLES II INC.
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(Exact Name of Registrant as Specified in its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
33-99298 76-0439709
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(Commission File Number) (I.R.S. Employer Identification No.)
233 Lake Street, Racine, Wisconsin 53403
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(Address of Principal Executive Offices) (Zip Code)
(414) 636-6011
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(Registrant's Telephone Number, Including Area Code)
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
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<PAGE>
Item 5. Other Events.
The Registrant is filing the monthly Servicer Reports listed in Item 7(c)
below with respect to each of its outstanding series of publicly-offered
securities.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit
No. Document Description
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20.1 Monthly Servicer Report dated November 15, 1998.
2
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CASE RECEIVABLES II INC.
(Registrant)
Dated: November 30, 1998 By: /s/ Peter Hong
--------------------------
Peter Hong
Treasurer
3
<PAGE>
INDEX TO EXHIBITS
Exhibit Sequential
No. Document Description
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20.1 Monthly Servicer Report dated November 15, 1998.
4
<PAGE>
<TABLE>
<CAPTION>
Case Equipment Loan Trust 1995-A NPV Data Input Section
$576,000,000 7.30% Asset Backed Notes due March 15, 2002 Scheduled Cash Flows as of the Fiscal Month
$24,000,000 7.65% Asset Backed Certificates due March 15, 2002 Line 0 is Scheduled Amount Delinquent
Prepared by Lisa Sorenson Phone 414-636-6184
IRR Calc 16-Nov-98
7.562% Cut-off Date pool 1 pool 2 pool 3
<S><C>
File: service\ 0 (352,717,651.45) 756,797.64 804,165.65 286,111.54 426,512.87
11/18/1998 1 4,418,039.53 3,661,241.89 2,023,880.04 524,032.22 443,698.99
11:36:54 AM 2 4,012,602.90 4,012,602.90 10,224,145.71 852,749.94 1,272,526.87
3 3,907,325.73 3,907,325.73 6,850,686.45 850,893.69 1,002,395.87
4 5,254,112.46 5,254,112.46 3,661,950.25 4,576,247.42 647,587.08
5 6,443,901.17 6,443,901.17 1,191,867.98 5,395,980.68 4,109,676.54
6 5,675,841.78 5,675,841.78 508,926.31 254,790.93 4,883,261.23
7 9,401,221.89 9,401,221.89 324,532.12 116,892.45 76,247.74
8 5,176,887.89 5,176,887.89 602,404.35 83,090.21 116,504.88
9 7,504,062.59 7,504,062.59 905,309.42 80,206.30 243,209.34
10 25,460,912.46 25,460,912.46 613,927.08 212,677.97 69,692.80
11 17,161,198.48 17,161,198.48 891,134.39 214,627.26 143,085.83
12 9,725,133.70 9,725,133.70 563,599.74 137,618.80 200,679.41
13 5,313,727.52 5,313,727.52 1,152,137.58 173,556.56 123,033.03
14 4,141,877.81 4,141,877.81 7,043,841.22 378,115.93 514,217.76
15 3,728,364.97 3,728,364.97 4,254,333.85 414,549.30 534,889.97
16 4,893,554.35 4,893,554.35 1,794,381.70 2,786,682.72 199,390.08
17 6,214,011.07 6,214,011.07 338,869.26 2,887,463.34 1,664,829.67
18 5,387,093.37 5,387,093.37 62,443.27 130,773.76 2,245,285.77
19 8,842,052.74 8,842,052.74 90,471.49 9,950.38 42,000.90
20 4,928,939.62 4,928,939.62 10,516.11 4,098.18 37,231.58
21 7,229,379.49 7,229,379.49 26,897.34 0.00 22,093.78
22 25,037,082.60 25,037,082.60 1,715.60 11,796.59 497.05
23 16,779,221.10 16,779,221.10 11,931.23 32,608.34 4,043.72
24 9,308,425.49 9,308,425.49 17,752.28 0.00 60,175.17
25 4,795,285.30 4,795,285.30 1,715.60 0.00 497.05
26 3,781,783.09 3,781,783.09 145,363.41 0.00 497.05
27 3,273,512.75 3,273,512.75 64,494.56 27,910.39 48,591.28
28 4,371,478.35 4,371,478.35 35,254.58 50,115.97 566.08
29 5,537,022.24 5,537,022.24 18,366.93 10,322.30 171,256.09
30 4,897,672.87 4,897,672.87 692.13 0.00 12,811.40
31 8,011,042.60 8,011,042.60 0.00 0.00 0.00
32 4,491,987.98 4,491,987.98 0.00 0.00 0.00
33 6,683,794.29 6,683,794.29 0.00 0.00 0.00
34 24,058,728.76 24,058,728.76 0.00 0.00 0.00
35 15,848,613.80 15,848,613.80 0.00 0.00 0.00
36 8,320,850.71 8,320,850.71 0.00 0.00 39,254.82
37 3,990,580.08 3,990,580.08 0.00 0.00 0.00
38 2,991,922.80 2,991,922.80 0.00 0.00 0.00
39 2,433,481.82 2,433,481.82 0.00 0.00 0.00
40 3,283,542.26 3,283,542.26 0.00 0.00 0.00
41 4,374,194.28 4,374,194.28 0.00 0.00 0.00
42 3,724,329.06 3,724,329.06 0.00 0.00 0.00
43 6,417,821.23 6,417,821.23 0.00 0.00 0.00
44 3,114,191.49 3,114,191.49 0.00 0.00 0.00
45 4,864,826.68 4,864,826.68 0.00 0.00 0.00
46 20,215,309.91 20,215,309.91 0.00 0.00 0.00
47 12,909,728.71 12,909,728.71 0.00 0.00 0.00
48 6,349,954.88 6,349,954.88 0.00 0.00 0.00
49 2,282,299.00 2,282,299.00 0.00 0.00 0.00
50 1,264,180.73 1,264,180.73 0.00 0.00 0.00
51 684,213.18 684,213.18 0.00 0.00 0.00
52 1,214,774.34 1,214,774.34 0.00 0.00 0.00
53 1,940,632.37 1,940,632.37 0.00 0.00 0.00
54 1,492,868.04 1,492,868.04 0.00 0.00 0.00
55 3,355,837.69 3,355,837.69 0.00 0.00 0.00
56 1,372,485.44 1,372,485.44 0.00 0.00 0.00
57 2,427,126.28 2,427,126.28 0.00 0.00 0.00
58 14,388,915.95 14,388,915.95 0.00 0.00 0.00
59 8,159,079.37 8,159,079.37 0.00 0.00 0.00
60 2,986,211.22 2,986,211.22 0.00 0.00 0.00
61 715,159.00 715,159.00 0.00 0.00 0.00
62 236,175.21 236,175.21 0.00 0.00 0.00
63 27,528.60 27,528.60 0.00 0.00 0.00
64 42,207.34 42,207.34 0.00 0.00 0.00
65 47,609.45 47,609.45 0.00 0.00 0.00
66 8,162.69 8,162.69 0.00 0.00 0.00
67 121,075.68 121,075.68 0.00 0.00 0.00
68 15,557.18 15,557.18 0.00 0.00 0.00
69 101,621.40 101,621.40 0.00 0.00 0.00
70 437,852.74 437,852.74 0.00 0.00 0.00
71 196,938.60 196,938.60 0.00 0.00 0.00
72 61,221.73 61,221.73 0.00 0.00 0.00
73 17,674.81 17,674.81 0.00 0.00 0.00
Total Time Balance of
Scheduled Cash Flows 418,284,034.69 418,284,034.69 44,237,707.63 20,503,863.17 19,356,241.70
<PAGE>
CASE EQUIPMENT LOAN TRUST 1995-A
$576,000,000 7.30% Asset Backed Notes due March 15, 2002
$24,000,000 7.65% Asset Backed Certificates due March 15, 2002
Prepared by Lisa Sorenson Phone 414-636-6184
Payment Date 16-Nov-98
Month Begin 01-Oct-98
Month End 28-Feb-95 31-Oct-98
Days in accrual period (30/360) 30
PART I -- MONTHLY DATA INPUT
Total Receipts During the Period $3,943,537.39
Warranty Repurchases
Contracts deferred beyond final maturity date $0.00
Government obligors $0.00
Total Warranty Repurchases $0.00
Total Collections For The Period $3,943,537.39
Miscellaneous Data
Aggregate Scheduled Amounts 30 - 59 days past due $434,274.73
Aggregate Scheduled Amounts 60 days or more past due $523,612.27
Net Losses on Liquidated Receivables $34,529.18
Number of Loans at Beginning of Period 7,831
Number of Loans at End of Period 7,606
Repossessed Equipment not Sold or Reassigned (Beginning) $0.00
Repossessed Equipment not Sold or Reassigned (End) $0.00
Reinvestment Income $114,796.76
Pre-Funding Account Reinvestment Income $0.00
<PAGE>
PART II -- SERVICING CALCULATIONS 16-Nov-98
1. Sources and Uses of Collection Account Balance Cut-off Date pool 1 pool 2 pool 3
Initial Pool Balance $600,998,991.37
Wtd. Avg. APR 7.564% 7.564% 7.482% 7.806%
Contract Value (Beg. of Month) $44,242,997.09 $20,055,033.64 $19,021,980.42
Contract Value (End of Month) $352,717,651.45 $42,252,716.44 $19,466,747.65 $18,317,126.13
Contract Value Decline $1,990,280.66 $588,285.98 $704,854.29
Total Collections and Investment Income for the period $4,058,334.15
Yield Supplement Amount $0.00
Negative Carry Amount $0.00
Total Distribution Amount (TDA) $4,058,334.15
Principal Distribution Amount (PDA) $3,283,420.93
Interest Distribution Amount (IDA) $774,913.22
2. Calculation of Distributable Amounts
Note Beginning Principal Balance $54,777,918.25
Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
Noteholders' Share of the Principal Distribution Amount 96.00%
Noteholders' Principal Distributable Amount $3,152,084.09
Certificate Beginning Principal Balance $8,214,753.61
Certificateholders' Principal Carryover Shortfall (Previous Period) $0.00
Certificateholders' Share of the Principal Distribution Amount 4.00%
Certificateholders' Principal Distributable Amount $131,336.84
Interest Accrued on Notes this period 7.30% $333,232.34
Noteholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount $333,232.34
Interest Accrued on Certificates this period 7.65% $52,369.05
Certificateholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on Above Beginning Shortfall $0.00
Certificateholders' Interest Distributable Amount $52,369.05
3. Allocation of Total Distribution Amount
Total Distribution Amount $4,058,334.15
Administration Fee Shortfall (Previous Period) $0.00
Administration Fee Accrued during this Period $500/qtr. $166.67
Administration Fee Paid this Period from TDA $166.67
Administration Fee Shortfall $0.00
Total Distribution Amount Remaining $4,058,167.48
Noteholders' Interest Distributable Amount $333,232.34
Noteholders' Interest Paid this Period from TDA $333,232.34
Prelim. Noteholders' Interest Carryover Shortfall $0.00
Total Distribution Amount Remaining $3,724,935.15
Noteholders' Principal Distributable Amount $3,152,084.09
Noteholders' Principal Paid this Period from TDA $3,152,084.09
Prelim. Noteholders' Principal Carryover Shortfall $0.00
<PAGE>
Total Distribution Amount Remaining $572,851.06
Certificateolders' Interest Distributable Amount $52,369.05
Certificateholders' Interest Paid this Period from TDA $52,369.05
Prelim. Certificateholders' Interest Carryover Shortfall $0.00
Total Distribution Amount Remaining $520,482.00
Certificateholders' Principal Distributable Amount $131,336.84
Certificateholders' Principal Paid this Period from TDA $131,336.84
Prelim. Certificateholders' Principal Carryover Shortfall $0.00
Total Distribution Amount Remaining $389,145.17
Servicing Fee Shortfall (Previous Period) $0.00
Servicing Fees Accrued during this Period 1.00% $69,433.34
Servicing Fees Paid this Period from TDA $69,433.34
Servicing Fee Shortfall $0.00
Total Distribution Amount Remaining to Deposit to Spread Acct $319,711.82
4. Reconciliation of Pre-Funding Account
Beginning Pre-Funding Account Balance ($0.00)
New Collateral Purchased $0.00
Deposit to Spread Account $0.00
Deposit to YSA $0.00
Payment to Seller $0.00
Ending Pre-Funding Account Balance ($0.00)
5. Reconciliation of Yield Supplement Account
Beginning Yield Supplement Account Balance $5,715,885.89
Receivables Percentage 100.000%
Yield Supplement Amount $0.00
Cumulative Yield Supplement Amount $15,025,550.11
Deposit to YSA for purchased collateral $0.00
Original YSA Balance $21,522,322.00
Maximum YSA Amount $15,806,006.42
Required YSA Balance $6,496,771.89
Interim Ending YSA Balance $5,715,885.89
YSA Released to Seller $0.00
Ending Yield Supplement Account Balance $5,715,885.89
6. Reconciliation of Negative Carry Account
Beginning Negative Carry Account Balance ($0.00)
Pre-Funded Percentage 0.000%
Negative Carry Amount $0.00
Cumulative Negative Carry Amount $756,233.52
Maximum Negative Carry Amount $0.00
Required Negative Carry Account Balance $0.00
Interim Ending Negative Carry Account Balance ($0.00)
Negative Carry Amount Released to Seller $0.00
Ending Negative Carry Account Balance ($0.00)
<PAGE>
7. Distributions from Spread Account
Beginning Spread Account Balance $15,024,974.78
Deposit to Spread Account from Pre-Funding Account $0.00
Deposit to Spread Account from Excess Collections over Distributions $319,711.82
Distribution from Spread Account to Noteholders' Distr. Account $0.00
Adjustment to Noteholder Interest Carryover Shortfall $0.00
Adjustment to Noteholder Principal Carryover Shortfall $0.00
Prelim. Spread Account Balance Remaining $15,344,686.61
Distribution from Spread Account to Certificateholders' Distr. Account $0.00
Adjustment to Certificateholders' Interest Carryover Shortfall $0.00
Adjustment to Certificateholders' Principal Carryover Shortfall $0.00
Prelim. Spread Account Balance Remaining $15,344,686.61
Cumulative Realized Losses since 28-February-95 (Cut-off Date) $1,535,439.05
Are Cum. Realized Losses > 2.25% of Initial Pool Balance? NO
12*(Realized Losses during Collection Period + Repos at end of Collection Period) $414,350.16
Is 12*Realized Losses + Unliq. Repos > 1.65% of Beg. Pool Balance? NO
60 day or > Delinquent Scheduled Amounts $523,612.27
Are 60 day or > Delinquencies > 2.25% of Ending Pool Balance? NO
Are any of the three conditions "YES"? NO
Preliminary Note Principal Balance (End of Period) $51,625,834.16
Preliminary Certificate Principal Balance (End of Period) $8,083,416.77
Preliminary Total Principal Balance of Notes and Certificates $59,709,250.93
Specified Spread Acct Balance (Before Distribution of 5.06 (b) (ii)) $15,024,974.78
Greater of:
(a) 4.00% of Pool Balance at end of Collection Pd; and 4.00% $3,201,463.61
(b) 2.5% of Initial Balance (Until Outstanding Note and Certificate
Balance = Spread Account) 2.50% $15,024,974.78
Prelim. Spread Account Balance Remaining $15,344,686.61
Prelim. Excess Spread Account Balance $319,711.82
Release from Spread Account to Seller as "Excess Servicing Fee" Turbo Date $0.00
Release from Spread Account to Noteholders as Principal 15-Oct-95 $319,711.82
Ending Spread Account Balance (after distributions) $15,024,974.78
Net Change in Spread Account Balance $0.00
8. Ending Balances
Note Interest Carryover Shortfall (Ending Balance) $0.00
Note Principal Carryover Shortfall (Ending Balance) $0.00
Certificateholders' Interest Carryover Shortfall (Ending Balance) $0.00
Certificateholders' Principal Carryover Shortfall (Ending Balance) $0.00
Note Principal Balance (End of Period) $51,306,122.34
Certificate Principal Balance (End of Period) $8,083,416.77
Total Principal Balance of Notes and Certificates $59,389,539.11
Note Pool Factor (End of Period) $576,000,000.00 0.0890731
Certificate Pool Factor (End of Period) $24,000,000.00 0.3368090
Total Notes & Certificates Pool Factor (End of Period) 0.0989826
Specified Spread Account Balance (after all distributions and adjustments) $15,024,974.78
<PAGE>
CASE EQUIPMENT LOAN TRUST 1995-A
STATEMENT TO NOTEHOLDERS
$576,000,000 7.30% Asset Backed Notes due March 15, 2002
$24,000,000 7.65% Asset Backed Certificates due March 15, 2002
Payment Date: 16-Nov-98
(1) Amount of principal being paid on Notes: $3,471,795.91
per $1,000 original principal amount: 6.02742346
(2) Amount of interest being paid on Notes: $333,232.34
per $1,000 original principal amount: 0.57852836
(3) Pool Balance at end of related Collection Period: $80,036,590.22
(4) After giving effect to distributions on this Payment Date:
(a) (i) outstanding principal amount of notes: $51,306,122.34
(ii) Note Pool Factor: 0.0890731
(b) (i) Certificate Balance $8,083,416.77
(ii) Certificate Pool Factor: 0.3368090
(5) Amount of Servicing Fee: $69,433.34
per $1,000 Original Pool Balance: 0.11552988
(6) Amount of Administration Fee: $166.67
per $1,000 Original Pool Balance: 0.00027732
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $34,529.18
(9) Amount in Spread Account: $15,024,974.78
(10) Amount in Pre-Funding Account: ($0.00)
(11) For the Final payment date with respect to the Funding Period, the NA
Remaining Pre-Funded Amount
(12) Amount in Yield Supplement Account: $5,715,885.89
(13) Amount in Negative Carry Account: ($0.00)
<PAGE>
CASE EQUIPMENT LOAN TRUST 1995-A
STATEMENT TO CERTIFICATEHOLDERS
$576,000,000 7.30% Asset Backed Notes due March 15, 2002
$24,000,000 7.65% Asset Backed Certificates due March 15, 2002
Payment Date: 16-Nov-98
(1) Amount of principal being paid or distributed:
(a) Notes: $3,471,795.91
per $1,000 original principal amount: 6.02742346
(b) Certificates: $131,336.84
per $1,000 original principal amount: 5.47236821
(c) Total: $3,603,132.75
(2) Amount of interest being paid or distributed:
(a) Notes: $333,232.34
per $1,000 original principal amount: 0.57852836
(b) Certificates: $52,369.05
per $1,000 original principal amount: 2.18204393
(c) Total: $385,601.39
(3) Pool Balance at end of related Collection Period: $80,036,590.22
(4) After giving effect to distributions on this Payment Date:
(a) (i) outstanding principal amount of notes: $51,306,122.34
(ii) Note Pool Factor: 0.0890731
(c) (i) Certificate Balance $8,083,416.77
(ii) Certificate Pool Factor: 0.3368090
(5) Amount of Servicing Fee: $69,433.34
per $1,000 Original Pool Balance: 0.11552988
(6) Amount of Administration Fee: $166.67
per $1,000 Original Pool Balance: 0.00027732
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $34,529.18
(9) Amount in Spread Account: $15,024,974.78
(10) Amount in Pre-Funding Account: ($0.00)
(11) For the Final payment date with respect to the Funding Period, the NA
Remaining Pre-Funded Amount
(12) Amount in Yield Supplement Account: $5,715,885.89
(13) Amount in Negative Carry Account: ($0.00)
<PAGE>
CASE EQUIPMENT LOAN TRUST 1995-A
$576,000,000 7.30% Asset Backed Notes due March 15, 2002
$24,000,000 7.65% Asset Backed Certificates due March 15, 2002
PAYMENT AND DEPOSIT INSTRUCTIONS TO INDENTURE TRUSTEE
Payment Date: 16-Nov-98
(1) Payment of Administration Fee to Administrator: $166.67
(2) Noteholders' Interest Distributable Amount to be
deposited into Noteholders' Distribution Account: $333,232.34
(3) Noteholders' Principal Distributable Amount to be
deposited into Noteholders' Distribution Account: $3,471,795.91
(4) Certificateholders' Interest Distributable Amount to be
deposited into Certificateholders' Distribution Account: $52,369.05
(5) Certificateholders' Principal Distributable Amount to be
deposited into Certificateholders' Distribution Account: $131,336.84
(6) Payment of Servicing Fee to Servicer: $69,433.34
(7) Deposit to Spread Account: $319,711.82
Check for Error NO ERROR
Sum of Above Distributions $4,378,045.97
Total Distribution Amount plus Turbo $4,378,045.97
<PAGE>
CASE EQUIPMENT LOAN TRUST 1995-A
SERVICER'S CERTIFICATE
$576,000,000 7.30% Asset Backed Notes due March 15, 2002
$24,000,000 7.65% Asset Backed Certificates due March 15, 2002
Payment Date: 16-Nov-98
(1) Total Distribution Amount: $4,058,334.15
(2) Administration Fee: $166.67
(3) Noteholders' Interest Distributable Amount: $333,232.34
(4) Noteholders' Interest Carryover Shortfall: $0.00
(5) Noteholders' Percentage: 96%
(6) Noteholders' Principal Distributable Amount: $3,471,795.91
(7) Noteholders' Principal Carryover Shortfall: $0.00
(8) Noteholders' Distributable Amount: $3,805,028.25
(9) Certificateholders' Interest Distributable Amount: $52,369.05
(10) Certificateholders' Interest Carryover Shortfall: $0.00
(11) Certificateholders' Percentage: 4%
(12) Certificateholders' Principal Distributable Amount: $131,336.84
(13) Certificateholders' Principal Carryover Shortfall: $0.00
(14) Certificateholders' Distributable Amount: $183,705.89
(15) Servicing Fee: $69,433.34
(16) Deposit to Spread Account (before any distributions of excess): $319,711.82
(17) Specified Spread Account Balance (after all distributions and adjustments) : $15,024,974.78
The greater of:
(a) 4.00% of the Pool Balance at the beginning of the Collection Period
in which the Payment Date occurs plus $3,201,463.61
(b) 2.5% of Initial Balance (Until Outstanding Note and Certificate $15,024,974.78
Balance = Spread Account)
<PAGE>
STATEMENT TO CERTIFICATEHOLDERS
SERVICER'S CERTIFICATE (CONTINUED)
(18) Spread Account Trigger Tests:
(a) (i) Aggregate Realized Losses from the Cutoff Date through
the end of the related Collection Period: $1,535,439.05
(ii) 2.25% of the Original Pool Balance: $13,522,477.31
(b) (i) 12 times the sum of (x) the aggregate Realized Losses during the
related Collection Period and (y) the aggregate Contract Value
of all Receivables as to which the related Finance Equipment
has been repossessed but in which the receivable has not been liquidated: $414,350.16
(ii) 1.65% of the Pool Balance at the beginning of the Collection Period: $1,374,780.18
(c) (i) Aggregate Scheduled Payments delinquent by more than 60 days
as of the end of the related Collection Period: $523,612.27
(ii) 2.25% of the Pool Balance at the beginning of the Collection Period
in which the Payment Date occurs: $1,800,823.28
(19) Spread Account Balance over the Specified Spread Account Balance: $319,711.82
(20) Excess Amount in Spread Account Distributed To:
(a) Seller: $0.00
(b) Seller: Release of Excess Amount in Yield Supplement Account $0.00
(c) Noteholders: $319,711.82
(21) Amount to be withdrawn from the Spread Account and deposited
into the Note Distribution Account (other than as set forth in (32)(b) above): $0.00
(22) Amount to be withdrawn from the Spread Account and deposited
into the Certificate Distribution Account: $0.00
(23) Pool Balance as of the opening of business on the first day of
the Collection Period in which the Payment Date occurs: $80,036,590.22
(24) After giving effect to all distributions on such Payment Date:
Outstanding Principal Balance of Notes: $51,306,122.34
Note Pool Factor: 0.0890731
Outstanding Principal Balance of the Certificates: $8,083,416.77
Certificate Pool Factor: 0.3368090
(25) Aggregate Purchase Amounts for related Collection Period: $0.00
(26) Aggregate Amount of Realized Losses for the related Collection Period: $34,529.18
(27) Spread Account Balance after giving effect to all distributions: $15,024,974.78
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CASE EQUIPMENT LOAN TRUST 1995-B
$100,000,000 Class A-1 5.825% Money Market Asset Backed Notes due September 15,
1996 $230,000,000 Class A-2 5.95% Asset Backed Notes due September 15, 2000 NPV Data Input Section
$294,000,000 Class A-3 6.15% Asset Backed Notes due September 15, 2002 Scheduled Cash Flows as of the End of the Fiscal Month
$26,000,000 6.45% Asset Backed Certificates due September 15, 2002 Line 0 is Scheduled Amount Delinquent
Prepared by Lisa Sorenson Phone 414-636-6184
<S><C>
IRR Calc 16-Nov-98
8.319% pool 1 pool 2 pool 3
0 (375,056,914.00) 1,471,916.25 858,345.61 1,462,853.84
1 7,065,483.08 2,533,436.24 747,620.45 1,353,423.39
2 5,497,424.34 5,725,245.18 1,389,133.26 1,586,476.54
3 6,911,943.75 3,775,961.82 925,521.09 849,985.82
4 13,755,624.68 1,859,643.38 557,891.44 760,000.45
5 10,320,462.30 1,877,692.77 765,140.53 865,801.62
6 6,063,795.64 3,827,177.67 609,101.41 683,110.56
7 6,187,590.06 4,218,249.35 411,947.27 505,612.22
8 10,444,882.53 4,313,891.75 416,348.10 493,577.75
9 11,257,480.67 4,337,479.95 913,771.79 561,602.43
10 12,103,680.98 3,422,796.38 1,892,381.61 708,859.11
11 13,868,539.05 766,065.77 4,231,895.59 2,250,734.38
12 11,237,527.54 557,198.29 303,586.14 3,879,647.72
13 7,211,321.42 1,030,746.73 492,773.91 1,101,594.61
14 5,108,428.29 3,127,817.50 865,210.39 1,037,918.35
15 6,956,327.97 1,932,344.24 466,125.68 424,082.97
16 13,951,027.49 607,227.78 219,068.74 331,443.54
17 10,189,666.03 439,608.77 361,220.12 336,474.88
18 5,786,133.77 1,100,701.26 265,541.94 182,126.18
19 6,008,036.09 1,358,901.85 90,383.59 112,280.94
20 10,019,601.65 1,382,390.50 82,106.52 79,229.13
21 10,876,927.96 1,857,205.76 493,051.49 101,971.72
22 11,717,351.64 1,782,921.03 968,075.07 203,893.91
23 13,292,442.97 256,302.94 2,771,048.20 1,019,259.62
24 10,769,940.61 107,723.12 173,398.49 2,070,145.08
25 6,807,002.99 188,463.47 268,286.03 387,682.46
26 4,622,643.12 154,193.33 197,188.05 285,973.50
27 6,520,941.54 78,059.41 67,627.48 35,044.10
28 13,253,785.46 29,284.76 27,428.60 64,547.67
29 9,545,425.28 531.88 19,070.58 22,892.66
30 5,316,722.42 15,466.48 8,337.26 8,480.59
31 5,492,559.12 6,837.09 2,347.11 0.00
32 9,259,151.29 22,529.51 2,347.11 0.00
33 10,091,918.30 72,892.59 24,179.76 0.00
34 10,667,452.02 9,746.16 2,347.11 0.00
35 11,924,557.05 0.00 19,605.87 74,582.13
36 9,592,980.21 24,406.27 0.00 0.00
37 5,571,999.63 3,000.00 0.00 0.00
38 3,525,826.06 0.00 0.00 0.00
39 5,110,243.54 0.00 0.00 0.00
40 11,200,013.98 0.00 0.00 0.00
41 7,862,891.62 0.00 0.00 0.00
42 4,170,368.98 0.00 0.00 0.00
43 4,180,220.31 0.00 0.00 0.00
44 7,194,052.79 0.00 0.00 0.00
45 7,888,376.20 0.00 0.00 0.00
46 8,111,468.65 0.00 0.00 0.00
47 8,851,625.45 0.00 0.00 0.00
48 6,473,689.43 0.00 0.00 0.00
49 2,558,905.47 0.00 0.00 0.00
50 987,593.55 0.00 0.00 0.00
51 1,988,949.69 0.00 0.00 0.00
52 6,389,191.39 0.00 0.00 0.00
53 4,265,291.38 0.00 0.00 0.00
54 1,579,374.37 0.00 0.00 0.00
55 1,180,951.76 0.00 0.00 0.00
56 2,293,132.32 0.00 0.00 0.00
57 2,688,019.89 0.00 0.00 0.00
58 2,713,276.68 0.00 0.00 0.00
59 3,895,027.62 0.00 0.00 0.00
60 3,049,513.88 0.00 0.00 0.00
61 888,385.50 0.00 0.00 0.00
62 151,117.06 0.00 0.00 0.00
63 381,464.41 0.00 0.00 0.00
64 339,379.02 0.00 0.00 0.00
65 180,746.13 0.00 0.00 0.00
66 87,347.49 0.00 0.00 0.00
67 17,948.98 0.00 0.00 0.00
68 89,040.34 0.00 0.00 0.00
69 217,072.75 0.00 0.00 0.00
70 66,233.26 0.00 0.00 0.00
71 502,016.97 0.00 0.00 0.00
72 0.00 0.00 0.00 0.00
73 0.00 0.00 0.00 0.00
Total Time Balance of
Scheduled Cash Flows 446,347,535.86 54,276,057.23 21,909,453.39 23,841,309.87
<PAGE>
CASE EQUIPMENT LOAN TRUST 1995-B
$100,000,000 CLASS A-1 5.825% MONEY MARKET ASSET BACKED NOTES DUE SEPTEMBER 15,
1996 $230,000,000 CLASS A-2 5.95% ASSET BACKED NOTES DUE SEPTEMBER 15, 2000
$294,000,000 CLASS A-3 6.15% ASSET BACKED NOTES DUE SEPTEMBER 15, 2002
$26,000,000 6.45% ASSET BACKED CERTIFICATES DUE SEPTEMBER 15, 2002
Prepared by Sandra Tomlinson Phone 414-636-7833
Payment Date 16-Nov-98
Month Begin 01-Oct-98
Month End 31-Oct-98
Days in accrual period (30/360) 30
PART I -- MONTHLY DATA INPUT
Total Receipts During the Period $10,215,251.14
Warranty Repurchases
Contracts deferred beyond Final Scheduled Maturity Date $0.00
Government obligors $0.00
Total Warranty Repurchases $0.00
Total Collections For The Period $10,215,251.14
Miscellaneous Data
Aggregate Scheduled Amounts 30 - 59 days past due $1,003,673.48
Aggregate Scheduled Amounts 60 days or more past due $1,109,522.90
Net Losses on Liquidated Receivables $33,884.31
Number of Loans at Beginning of Period 9,164
Number of Loans at End of Period 8,673
Repossessed Equipment not Sold or Reassigned (Beginning) $0.00
Repossessed Equipment not Sold or Reassigned (End) $0.00
Reinvestment Income (including Pre-Funding Account) $126,022.61
Pre-Funding Account Reinvestment Income $0.00
<PAGE>
PART II -- SERVICING CALCULATIONS 16-Nov-98
1. Sources and Uses of Collection Account Balance pool 1 pool 2 pool 3
Initial Pool Balance $650,228,245.97
Wtd. Avg. APR 8.320% 8.820% 8.787%
Contract Value (Beg. of Month) $53,786,533.01 $21,608,984.78 $26,725,639.15
Contract Value (End of Month) $50,995,568.95 $20,120,351.00 $22,012,771.35
Contract Value Decline $2,790,964.06 $1,488,633.78 $4,712,867.80
Total Collections and Investment Income for the period $10,341,273.75
Yield Supplement Amount $0.00
Negative Carry Amount $0.00
Total Distribution Amount (TDA) $10,341,273.75
Principal Distribution Amount (PDA) $8,992,465.65
Interest Distribution Amount (IDA) $1,348,808.10
2. Calculation of Distributable Amounts
A-1 Note Beginning Principal Balance $0.00
A-1 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-1 Noteholders' Share of the Principal Distribution Amount 0.00%
A-1 Noteholders' Principal Distributable Amount $0.00
A-2 Note Beginning Principal Balance $0.00
A-2 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-2 Noteholders' Share of the Principal Distribution Amount 0.00%
A-2 Noteholders' Principal Distributable Amount $0.00
A-3 Note Beginning Principal Balance $76,121,156.68
A-3 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-3 Noteholders' Share of the Principal Distribution Amount 100.00%
A-3 Noteholders' Principal Distributable Amount $8,992,465.65
Certificate Beginning Principal Balance $26,000,000.00
Certificateholders' Principal Carryover Shortfall (Previous Period) $0.00
Certificateholders' Share of the Principal Distribution Amount 0.00%
Certificateholders' Principal Distributable Amount $0.00
Interest Accrued on Class A-1 Notes this period $0.00
Noteholders' Interest Carryover Shortfall (Previous Period) applicable to A-1 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount applicable to A-1 Notes $0.00
Interest Accrued on Class A-2 Notes this period $0.00
Noteholders' Interest Carryover Shortfall (Previous Period) applicable to A-2 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount applicable to A-2 Notes $0.00
Interest Accrued on Class A-3 Notes this period $390,120.93
Noteholders' Interest Carryover Shortfall (Previous Period) applicable to A-3 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount applicable to A-3 Notes $390,120.93
Interest Accrued on Class A-1, A-2, and A-3 Notes this period $390,120.93
Noteholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount $390,120.93
Interest Accrued on Certificates this period $139,750.00
Certificateholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on Above Shortfall $0.00
Certificateholders' Interest Distributable Amount $139,750.00
<PAGE>
3. Allocation of Total Distribution Amount
Total Distribution Amount $10,341,273.75
Administration Fee Shortfall (Previous Period) $0.00
Administration Fee Accrued during this Period $166.67
Administration Fee Paid this Period from TDA $166.67
Administration Fee Shortfall $0.00
Total Distribution Amount Remaining $10,341,107.08
Noteholders' Interest Carryover Shortfall (Previous Period) applicable to A-1
Notes $0.00 Interest Due (in Arrears) on above Shortfall $0.00 Interest Accrued
on Class A-1 Notes this period $0.00 Noteholders' Interest applicable to A-1
Notes Paid this Period from TDA $0.00 Preliminary Noteholders' Interest
Carryover Shortfall (Current Period) applicable to A-1 Notes$0.00
Noteholders' Interest Carryover Shortfall (Previous Period) applicable to A-2
Notes $0.00 Interest Due (in Arrears) on above Shortfall $0.00 Interest Accrued
on Class A-2 Notes this period $0.00 Noteholders' Interest applicable to A-2
Notes Paid this Period from TDA $0.00 Preliminary Noteholders' Interest
Carryover Shortfall (Current Period) applicable to A-2 Notes$0.00
Noteholders' Interest Carryover Shortfall (Previous Period) applicable to A-3
Notes $0.00 Interest Due (in Arrears) on above Shortfall $0.00 Interest Accrued
on Class A-3 Notes this period $390,120.93 Noteholders' Interest applicable to
A-3 Notes Paid this Period from TDA $390,120.93 Preliminary Noteholders'
Interest Carryover Shortfall (Current Period) applicable to A-3 Notes$0.00
Noteholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class A-1, A-2, and A-3 Notes this period $390,120.93
Noteholders' Interest Paid this Period from TDA $390,120.93
Preliminary Noteholders' Interest Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $9,950,986.16
A-1 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-1 Noteholders' Monthly Principal Distributable Amount $0.00
A-1 Noteholders' Principal Distributable Amount Paid from TDA $0.00
Preliminary A-1 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $9,950,986.16
A-2 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-2 Noteholders' Monthly Principal Distributable Amount $0.00
A-2 Noteholders' Principal Distributable Amount Paid from TDA $0.00
Preliminary A-2 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $9,950,986.16
A-3 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-3 Noteholders' Monthly Principal Distributable Amount $8,992,465.65
A-3 Noteholders' Principal Distributable Amount Paid from TDA $8,992,465.65
Prelim. A-3 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $958,520.51
Certificateholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on Above Shortfall $0.00
Interest Accrued on Certificates this period $139,750.00
Certificateholders' Interest Paid this Period from TDA $139,750.00
Preliminary Certificateholders' Interest Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $818,770.51
Certificateholders' Principal Carryover Shortfall (Previous Period) $0.00
Certificateholders' Principal Distributable Amount applicable to current period $0.00
Certificateholders' Principal Distributable Amount Paid from TDA $0.00
Prelim. Certificateholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $818,770.51
<PAGE>
Servicing Fee Shortfall (Previous Period) $0.00
Servicing Fees Accrued during this Period $85,100.96
Servicing Fees Paid this Period from TDA $85,100.96
Servicing Fee Shortfall $0.00
Total Distribution Amount Remaining to Deposit to Spread Acct $733,669.54
4. Reconciliation of Pre-Funding Account
Beginning Pre-Funding Account Balance $0.00
New Collateral Purchased $0.00
Deposit to Spread Account $0.00
Deposit to YSA $0.00
Payment to Seller $0.00
Ending Pre-Funding Account Balance $0.00
5. Reconciliation of Yield Supplement Account
Beginning Yield Supplement Account Balance $1,696,548.43
Receivables Percentage 100.000%
Yield Supplement Amount $0.00
Cumulative Yield Supplement Amount $426,891.58
Deposit to YSA for purchased collateral $0.00
Original YSA Balance $2,284,539.32
Maximum YSA Amount $2,123,440.01
Required YSA Balance $1,857,647.74
Interim Ending YSA Balance $1,696,548.43
YSA Released to Seller $0.00
Ending Yield Supplement Account Balance $1,696,548.43
6. Reconciliation of Negative Carry Account
Beginning Negative Carry Account Balance $0.00
Pre-Funded Percentage 0.000%
Negative Carry Amount $0.00
Cumulative Negative Carry Amount $265,109.61
Maximum Negative Carry Amount $0.00
Required Negative Carry Account Balance $0.00
Interim Ending Negative Carry Account Balance $0.00
Negative Carry Amount Released to Seller $0.00
Ending Negative Carry Account Balance $0.00
7. Distributions from Spread Account
Beginning Spread Account Balance $16,255,706.15
Deposit to Spread Account from Pre-Funding Account $0.00
Deposit to Spread Account from Excess Collections over Distributions $733,669.54
Distribution from Spread Account to Noteholders' Distr. Account $0.00
Adjustment to Preliminary Noteholders' Interest Carryover Shortfall
(Current Period) applicabl $0.00
A-1 Notes Adjustment to Preliminary Noteholders' Interest
Carryover Shortfall (Current Period) applicabl $0.00
A-2 Notes Adjustment to Preliminary Noteholders' Interest Carryover
Shortfall (Current Period) applicabl $0.00
A-3 Notes Adjustment to Preliminary A-1 Noteholders' Principal Carryover
Shortfall (Current Period) $0.00
Adjustment to Preliminary A-2 Noteholders' Principal Carryover Shortfall
(Current Period) $0.00
Adjustment to Preliminary A-3 Noteholders' Principal Carryover Shortfall
(Current Period) $0.00
Prelim. Spread Account Balance Remaining $16,989,375.69
Distribution from Spread Account to Certificateholders' Distr. Account $0.00
Adjustment to Preliminary Certificateholders' Interest Carryover Shortfall
(Current Period) $0.00
Adjustment to Prelim. Certificateholders' Principal Carryover Shortfall
(Current Period) $0.00
Prelim. Spread Account Balance Remaining $16,989,375.69
<PAGE>
Cumulative Realized Losses since 31-August-95 (Cut-off Date) $2,403,063.84
Are Cum. Realized Losses > 2.25% of Initial Pool Balance? NO
12*(Realized Losses during Collection Period + Repos at end of Collection Period) $406,611.72
Is 12*Realized Losses + Unliq. Repos > 1.65% of Beg. Pool Balance? NO
60 day or > Delinquent Scheduled Amounts $1,109,522.90
Are 60 day or > Delinquencies > 2.25% of Ending Pool Balance? NO
Are any of the three conditions "YES"? NO
A-1 Note Principal Balance (End of Period) $0.00
A-2 Note Principal Balance (End of Period) $0.00
A-3 Note Principal Balance (End of Period) $67,128,691.03
Certificate Principal Balance (End of Period) $26,000,000.00
Total Principal Balance of Notes and Certificates (End of Period) $93,128,691.03
Specified Spread Acct Balance $16,255,706.15
Greater of:
(a) 3.75% of Pool Balance at end of Collection Pd; and $3,492,325.92
(b) 2.5% of Initial Pool Balance (Until Outstanding Note and Certificate
Balance = Spread Account) $16,255,706.15
Prelim. Spread Account Balance Remaining $16,989,375.69
Prelim. Excess Spread Account Balance $733,669.54
Release from Spread Account to Seller as "Excess Servicing Fee" $733,669.54
Ending Spread Account Balance (after distributions) $16,255,706.15
Net Change in Spread Account Balance $0.00
8. Ending Balances
Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-1 Notes $0.00
Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-2 Notes $0.00
Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-3 Notes $0.00
A-1 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
A-2 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
A-3 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Certificateholders' Interest Carryover Shortfall (Ending Balance) $0.00
Certificateholders' Principal Carryover Shortfall (Ending Balance) $0.00
A-1 Note Principal Balance (End of Period) $0.00
A-2 Note Principal Balance (End of Period) $0.00
A-3 Note Principal Balance (End of Period) $67,128,691.03
Certificate Principal Balance (End of Period) $26,000,000.00
Total Principal Balance of Notes and Certificates (End of Period) $93,128,691.03
A-1 Note Pool Factor (End of Period) 0.0000000
A-2 Note Pool Factor (End of Period) 0.0000000
A-3 Note Pool Factor (End of Period) 0.2283289
Certificate Pool Factor (End of Period) 1.0000000
Total Notes & Certificates Pool Factor (End of Period) 0.1432749
Specified Spread Account Balance (after all distributions and adjustments) $16,255,706.15
<PAGE>
CASE EQUIPMENT LOAN TRUST 1995-B
STATEMENT TO NOTEHOLDERS
$100,000,000 Class A-1 5.825% Money Market Asset Backed Notes due September 15,
1996 $230,000,000 Class A-2 5.95% Asset Backed Notes due September 15, 2000
$294,000,000 Class A-3 6.15% Asset Backed Notes due September 15, 2002
$26,000,000 6.45% Asset Backed Certificates due September 15, 2002
Payment Date: 16-Nov-98
(1) Amount of principal being paid on the Notes:
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(b) A-2 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(c) A-3 Notes: $8,992,465.65
per $1,000 original principal amount: $30.58661785
(d) Total $8,992,465.65
(2) Interest on the Notes
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(b) A-2 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(c) A-3 Notes: $390,120.93
per $1,000 original principal amount: $1.32694193
(d) Total $390,120.93
(3) Pool Balance at the end of the related Collection Period $93,128,691.30
(4) After giving effect to distributions on current Payment Date:
(a) (i) outstanding principal amount of A-1 Notes: $0.00
(ii) A-1 Note Pool Factor: 0.0000000
(b) (i) outstanding principal amount of A-2 Notes: $0.00
(ii) A-2 Note Pool Factor: 0.0000000
(c) (i) outstanding principal amount of A-3 Notes: $67,128,691.03
(ii) A-3 Note Pool Factor: 0.2283289
(d) (i) Certificate Balance $26,000,000.00
(ii) Certificate Pool Factor: 1.0000000
(5) Amount of Servicing Fee: $85,100.96
per $1,000 Original Pool Balance: 0.13087860
(6) Amount of Administration Fee: $166.67
per $1,000 Original Pool Balance: 0.00025632
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $33,884.31
(9) Amount in Spread Account: $16,255,706.15
(10) Amount in Pre-Funding Account: $0.00
(11) For the Final payment date with respect to the Funding Period, the NA
Remaining Pre-Funded Amount
(12) Amount in Yield Supplement Account: $1,696,548.43
(13) Amount in Negative Carry Account: $0.00
<PAGE>
CASE EQUIPMENT LOAN TRUST 1995-B
STATEMENT TO CERTIFICATEHOLDERS
$100,000,000 Class A-1 5.825% Money Market Asset Backed Notes due September 15,
1996 $230,000,000 Class A-2 5.95% Asset Backed Notes due September 15, 2000
$294,000,000 Class A-3 6.15% Asset Backed Notes due September 15, 2002
$26,000,000 6.45% Asset Backed Certificates due September 15, 2002
Payment Date: 16-Nov-98
(1) Amount of principal being paid or distributed:
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(b) A-2 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(c) A-3 Notes: $8,992,465.65
per $1,000 original principal amount: $30.58661785
(d) Certificates: $0.00
per $1,000 original principal amount: $0.00000000
(e) Total: $8,992,465.65
(2) Amount of interest being paid or distributed:
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(b) A-2 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(c) A-3 Notes: $390,120.93
per $1,000 original principal amount: $1.32694193
(d) Certificates: $139,750.00
per $1,000 original principal amount: $5.37500000
(e) Total: $139,750.00
(3) Pool Balance at end of related Collection Period: $93,128,691.30
(4) After giving effect to distributions on this Payment Date:
(a) (i) outstanding principal amount of A-1 Notes: $0.00
(ii) A-1 Note Pool Factor: 0.0000000
(b) (i) outstanding principal amount of A-2 Notes: $0.00
(ii) A-2 Note Pool Factor: 0.0000000
(c) (i) outstanding principal amount of A-3 Notes: $67,128,691.03
(ii) A-3 Note Pool Factor: 0.2283289
(d) (i) Certificate Balance $26,000,000.00
(ii) Certificate Pool Factor: 1.0000000
(5) Amount of Servicing Fee: $85,100.96
per $1,000 Original Pool Balance: $0.13087860
(6) Amount of Administration Fee: $166.67
per $1,000 Original Pool Balance: $0.00025632
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $33,884.31
(9) Amount in Spread Account: $16,255,706.15
(10) Amount in Pre-Funding Account: $0.00
(11) For the Final payment date with respect to the Funding Period, the NA
Remaining Pre-Funded Amount
(12) Amount in Yield Supplement Account: $1,696,548.43
(13) Amount in Negative Carry Account: $0.00
<PAGE>
CASE EQUIPMENT LOAN TRUST 1995-B
$100,000,000 Class A-1 5.825% Money Market Asset Backed Notes due September 15,
1996 $230,000,000 Class A-2 5.95% Asset Backed Notes due September 15, 2000
$294,000,000 Class A-3 6.15% Asset Backed Notes due September 15, 2002
$26,000,000 6.45% Asset Backed Certificates due September 15, 2002
PAYMENT AND DEPOSIT INSTRUCTIONS TO INDENTURE TRUSTEE
Payment Date: 16-Nov-98
(1) Payment of Administration Fee to Administrator: $166.67
(2) Noteholders' Interest Distributable Amount to be
deposited into Noteholders' Distribution Account: $390,120.93
(3) Noteholders' Principal Distributable Amount to be
deposited into Noteholders' Distribution Account: $8,992,465.65
(4) Certificateholders' Interest Distributable Amount to be
deposited into Certificateholders' Distribution Account: $139,750.00
(5) Certificateholders' Principal Distributable Amount to be
deposited into Certificateholders' Distribution Account: $0.00
(6) Payment of Servicing Fee to Servicer: $85,100.96
(7) Deposit to Spread Account: $733,669.54
Check for Error NO ERROR
Sum of Above Distributions $10,341,273.75
Total Distribution Amount $10,341,273.75
<PAGE>
CASE EQUIPMENT LOAN TRUST 1995-B
SERVICER'S CERTIFICATE
$100,000,000 Class A-1 5.825% Money Market Asset Backed Notes due September 15,
1996 $230,000,000 Class A-2 5.95% Asset Backed Notes due September 15, 2000
$294,000,000 Class A-3 6.15% Asset Backed Notes due September 15, 2002
$26,000,000 6.45% Asset Backed Certificates due September 15, 2002
Payment Date: 16-Nov-98
(1) Total Distribution Amount: $10,341,273.75
(2) Administration Fee: $166.67
(3) Noteholders' Interest Distributable Amount applicable to A-1 Notes: $0.00
(4) Noteholders' Interest Carryover Shortfall applicable to A-1 Notes: $0.00
(5) Noteholders' Interest Distributable Amount applicable to A-2 Notes: $0.00
(6) Noteholders' Interest Carryover Shortfall applicable to A-2 Notes: $0.00
(7) Noteholders' Interest Distributable Amount applicable to A-3 Notes: $390,120.93
(8) Noteholders' Interest Carryover Shortfall applicable to A-3 Notes: $0.00
(9) Noteholders' Interest Distributable Amount: $390,120.93
(10) A-1 Noteholders' Monthly Principal Distributable Amount: $0.00
(11) % of Principal Distribution Amount applicable to A-1 Noteholders 0%
(12) A-1 Noteholders' Principal Carryover Shortfall: $0.00
(13) A-1 Noteholders' Principal Distributable Amount: $0.00
(14) A-2 Noteholders' Monthly Principal Distributable Amount: $0.00
(15) % of Principal Distribution Amount applicable to A-2 Noteholders 0%
(16) A-2 Noteholders' Principal Carryover Shortfall: $0.00
(17) A-2 Noteholders' Principal Distributable Amount: $0.00
(18) A-3 Noteholders' Monthly Principal Distributable Amount: $8,992,465.65
(19) % of Principal Distribution Amount applicable to A-3 Noteholders 100.00%
(20) A-3 Noteholders' Principal Carryover Shortfall: $0.00
(21) A-3 Noteholders' Principal Distributable Amount: $8,992,465.65
(22) Noteholders' Principal Distributable Amount: $8,992,465.65
(23) Noteholders' Distributable Amount: $9,382,586.58
(24) Certificateholders' Interest Distributable Amount: $139,750.00
(25) Certificateholders' Interest Carryover Shortfall: $0.00
(26) Certificateholders' Percentage: 0%
(27) Certificateholders' Principal Distributable Amount applicable to current period $0.00
(28) Certificateholders' Principal Carryover Shortfall: $0.00
(29) Certificateholders' Principal Distributable Amount: $0.00
(30) Certificateholders' Distributable Amount: $139,750.00
(31) Servicing Fee: $85,100.96
<PAGE>
(32) Deposit to Spread Account (before any distributions of excess): $733,669.54
(33) Specified Spread Account Balance (after all distributions and adjustments):
$16,255,706.15 The greater of (a) 3.75% of the Pool Balance at the
beginning of the Collection Period in which the Payment Date occurs plus $3,492,325.92
(b) 2.5% of Initial Pool Balance (Until Outstanding Note and Certificate $16,255,706.15
Balance = Spread Account)
(34) Spread Account Trigger Tests:
(a) (i) Aggregate Realized Losses from the Initial Cutoff Date through
the end of the related Collection Period: $2,403,063.84
(ii) 2.25% of the Initial Pool Balance: $14,630,135.53
(b) (i) 12 times the sum of (x) the aggregate Realized Losses during
the related Collection Period and (y) the aggregate Contract
Value of all Receivables as to which the related Finance Equipment
has been repossessed but in which the receivable has not been liquidated: $406,611.72
(ii) 1.65% of the Pool Balance at the beginning of the Collection Period: $1,684,999.09
(c) (i) Aggregate Scheduled Payments delinquent by more than 60 days
as of the end of the related Collection Period: $1,109,522.90
(ii) 2.25% of the Pool Balance at the beginning of the Collection Period
in which the Payment Date occurs: $2,095,395.55
(35) Spread Account Balance over the Specified Spread Account Balance: $733,669.54
(36) Excess Amounts Distributed To Seller:
(a) Release of Excess Amount in Spread Account $733,669.54
(b) Release of Excess Amount in Yield Supplement Account 0.00
(c) Release of Excess Amount in Negative Carry Account 0.00
(37) Amount to be withdrawn from the Spread Account and deposited
into the Note Distribution Account $0.00
(38) Amount to be withdrawn from the Spread Account and deposited
into the Certificate Distribution Account: $0.00
(39) Pool Balance as of the opening of business on the first day of
the Collection Period in which the Payment Date occurs: $93,128,691.30
(40) After giving effect to all distributions on such Payment Date:
Outstanding Principal Balance of A-1 Notes: $0.00
A-1 Note Pool Factor: 0.0000000
Outstanding Principal Balance of A-2 Notes: 0.0000000
A-2 Note Pool Factor: 0.0000000
Outstanding Principal Balance of A-3 Notes: 67,128,691.03
A-3 Note Pool Factor: 0.2283289
Outstanding Principal Balance of the Certificates: $26,000,000.00
Certificate Pool Factor: 1.0000000
(41) Aggregate Purchase Amounts for related Collection Period: $0.00
(42) Aggregate Amount of Realized Losses for the related Collection Period: $33,884.31
(43) Spread Account Balance after giving effect to all distributions: $16,255,706.15
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CASE EQUIPMENT LOAN TRUST 1996-A NPV Data Input Section
$87,000,000 Class A-1 5.00% Money Market Asset Backed Notes due February 15, 1997 Scheduled cash flows as of the
$513,000,000 Class A-2 5.50% Asset Backed Notes due February 15, 2003 end of the collection period
$25,000,000 5.85% Asset Backed Certificates due February 15, 2003 Line 0 is scheduled amount delinquent
Prepared by Lisa Sorenson, Phone 414-636-6184
<S><C>
IRR Calc (pool 1) 16-Nov-98
8.744% Pool 1 Pool 2 Pool 3 Pool 4
0 (391,313,488.41) 3,656,582.98 583,170.07 405,732.42 389,084.75
1 7,801,356.48 9,135,581.65 1,345,378.94 824,685.06 603,441.80
2 5,531,018.13 10,797,142.99 1,844,052.50 990,405.84 641,282.98
3 6,292,888.88 3,866,865.41 3,127,858.52 903,533.55 551,916.03
4 6,178,687.37 2,419,905.63 2,009,370.87 3,020,022.46 593,359.93
5 6,549,877.43 2,446,145.51 508,127.67 2,864,467.30 2,833,922.91
6 5,599,124.19 2,404,854.54 420,939.60 411,045.88 1,611,560.62
7 11,728,887.23 2,429,327.17 405,556.70 394,916.94 344,018.65
8 6,044,039.29 2,430,217.91 453,549.53 387,373.32 308,800.43
9 14,469,336.82 1,784,826.16 473,781.69 430,813.40 318,969.64
10 19,551,134.56 2,699,482.62 557,619.62 531,970.99 377,902.90
11 23,450,395.65 2,142,602.57 460,518.64 495,182.39 372,133.23
12 8,097,611.75 5,315,751.71 962,935.10 427,712.00 510,015.69
13 5,524,121.98 7,182,145.32 1,015,975.13 613,939.21 449,765.79
14 5,571,124.03 8,587,456.33 1,482,171.79 807,577.36 503,715.15
15 5,781,966.02 2,304,996.64 2,592,155.20 704,495.04 411,981.73
16 5,757,754.54 1,134,054.12 1,503,374.02 2,513,766.28 447,038.56
17 6,057,843.66 1,066,000.51 192,345.64 2,248,797.38 2,391,211.63
18 5,144,760.40 721,129.77 101,178.26 97,189.48 1,230,865.77
19 10,457,010.15 751,843.25 89,647.06 70,535.55 98,505.54
20 5,678,703.73 754,413.63 98,086.44 70,139.01 69,537.08
21 14,170,346.24 535,324.82 134,952.06 93,846.55 66,700.64
22 19,198,808.36 936,807.05 217,800.06 82,138.79 95,681.31
23 23,041,630.90 739,612.63 57,978.73 134,471.51 88,899.20
24 7,767,922.51 2,804,830.21 480,345.97 73,040.30 187,543.44
25 5,180,140.04 3,888,737.73 373,966.25 178,968.22 145,107.06
26 5,169,577.15 4,957,959.99 699,960.72 268,151.91 146,128.68
27 5,402,025.15 903,168.59 1,377,935.74 311,252.14 89,355.86
28 5,315,366.24 207,753.35 482,924.24 1,186,622.29 170,698.05
29 5,562,394.55 65,750.40 39,467.19 1,048,295.87 1,112,191.86
30 4,707,758.31 57,742.52 1,838.94 33,855.60 597,528.33
31 9,584,364.45 46,461.51 10,943.97 11,334.78 26,427.90
32 5,180,927.58 34,212.45 1,838.94 11,054.43 13,732.41
33 13,345,422.82 3,976.12 7,838.94 9,265.88 684.40
34 18,045,607.49 36,162.00 25,800.04 0.00 684.40
35 21,782,339.07 31,547.77 1,838.94 0.00 684.40
36 6,814,608.24 123,039.75 1,838.94 20,280.67 12,398.07
37 4,373,791.80 283,057.01 1,838.94 0.00 684.40
38 4,306,308.12 43,735.53 123,523.73 21,953.09 684.40
39 4,336,181.80 0.00 39,838.02 46,996.64 684.40
40 4,235,875.01 7,703.97 0.00 27,115.57 33,402.35
41 4,212,914.29 0.00 0.00 0.00 24,550.68
42 3,373,098.70 0.00 0.00 0.00 0.00
43 7,536,129.12 0.00 0.00 0.00 0.00
44 3,795,320.22 0.00 0.00 0.00 0.00
45 11,010,093.10 0.00 0.00 0.00 0.00
46 15,251,123.35 0.00 0.00 0.00 0.00
47 18,472,571.70 0.00 0.00 0.00 0.00
48 4,367,542.68 0.00 0.00 0.00 0.00
49 2,235,205.10 0.00 0.00 0.00 0.00
50 1,873,477.21 0.00 0.00 0.00 0.00
51 1,551,335.06 0.00 0.00 0.00 0.00
52 1,338,174.06 0.00 0.00 0.00 0.00
53 1,457,024.39 0.00 0.00 0.00 0.00
54 1,160,456.33 0.00 0.00 0.00 0.00
55 3,786,139.76 0.00 0.00 0.00 0.00
56 1,442,510.91 0.00 0.00 0.00 0.00
57 6,632,389.86 0.00 0.00 0.00 0.00
58 9,958,376.91 0.00 0.00 0.00 0.00
59 12,009,644.97 0.00 0.00 0.00 0.00
60 2,153,318.14 0.00 0.00 0.00 0.00
61 423,639.45 0.00 0.00 0.00 0.00
62 248,739.37 0.00 0.00 0.00 0.00
63 185,713.82 0.00 0.00 0.00 0.00
64 79,018.37 0.00 0.00 0.00 0.00
65 109,450.51 0.00 0.00 0.00 0.00
66 6,995.43 0.00 0.00 0.00 0.00
67 54,018.43 0.00 0.00 0.00 0.00
68 205,992.34 0.00 0.00 0.00 0.00
69 307,029.80 0.00 0.00 0.00 0.00
70 510,946.62 0.00 0.00 0.00 0.00
71 44,076.50 0.00 0.00 0.00 0.00
72 0.00 0.00 0.00 0.00 0.00
73 0.00 0.00 0.00 0.00 0.00
Total Time Balance of
Scheduled Cash Flows
474,581,504.62 89,738,909.82 24,310,263.35 22,772,945.10 17,873,483.05
<PAGE>
CASE EQUIPMENT LOAN TRUST 1996-A
$87,000,000 Class A-1 5.00% Money Market Asset Backed Notes due February 15, 1997
$513,000,000 Class A-2 5.50% Asset Backed Notes due February 15, 2003
$25,000,000 5.85% Asset Backed Certificates due February 15, 2003
Prepared by Lisa Sorenson, Phone 414-636-6184
Payment Date 16-Nov-98
Collection Period Begin Date 06-Oct-98
Collection Period End Date 05-Nov-98
Days in accrual period (30/360) 30
PART I -- MONTHLY DATA INPUT
Total Receipts During the Period $10,540,380.87
Warranty Repurchases
Contracts deferred beyond Final Scheduled Maturity Date $0.00
Government obligors $0.00
Total Warranty Repurchases $0.00
Total Collections For The Period $10,540,380.87
Miscellaneous Data
Scheduled Amounts 30 - 59 days past due $1,121,221.42
Scheduled Amounts 60 days or more past due $955,809.94
Net Losses on Liquidated Receivables $99,010.36
Number of Loans at Beginning of Period 10,810
Number of Loans at End of Period 10,348
Repossessed Equipment not Sold or Reassigned (Beginning) $0.00
Repossessed Equipment not Sold or Reassigned (End) $0.00
Reinvestment Income (including Pre-Funding Account) $82,508.03
Pre-Funding Account Reinvestment Income $0.00
<PAGE>
CASE EQUIPMENT LOAN TRUST 1996-A
$87,000,000 Class A-1 5.00% Money Market Asset Backed Notes due February 15, 1997
$513,000,000 Class A-2 5.50% Asset Backed Notes due February 15, 2003
$25,000,000 5.85% Asset Backed Certificates due February 15, 2003
Payment Date 16-Nov-98
Collection Period Begin Date 06-Oct-98
Collection Period End Date 05-Nov-98
PART II -- SUMMARY
Total Principal Balance of Notes and Certificates (Beginning of Period) $132,160,901.08
A-1 Note Beginning Principal Balance $0.00
A-2 Note Beginning Principal Balance $107,160,901.08
Certificate Beginning Principal Balance $25,000,000.00
Total Principal Balance of Notes and Certificates (End of Period) $122,278,159.21
A-1 Note Principal Balance (End of Period) $0.00
A-1 Note Pool Factor (End of Period) 0.0000000
A-2 Note Principal Balance (End of Period) $97,278,159.21
A-2 Note Pool Factor (End of Period) 0.1896260
Certificate Principal Balance (End of Period) $25,000,000.00
Certificate Pool Factor (End of Period) 1.0000000
Contract Value Decline $9,479,289.63
Pool Balance (Beg. of Collection Period) $152,341,478.69
Pool Balance (End of Collection Period) $142,862,189.06
Total Distribution Amount (TDA) $10,622,888.90
Total Collections and Investment Income for the Period $10,622,888.90
Negative Carry Amount $0.00
Administration Fee Accrued during this Period $166.67
Principal Distribution Amount (PDA) $9,479,289.63
Release from Spread Account to Noteholders as Principal $403,452.24
A-1 Noteholders' Principal Distributable Amount $0.00
A-2 Noteholders' Principal Distributable Amount $9,479,289.63
Certificateholders' Principal Distributable Amount $0.00
Interest Distributable Amount $1,143,599.27
Noteholders' Interest Distributable Amount applicable to A-1 Notes $0.00
Noteholders' Interest Distributable Amount applicable to A-2 Notes $491,154.13
Certificateholders' Interest Distributable Amount $121,875.00
Servicing Fees Accrued during this Period $126,951.23
Total Distribution Amount Remaining to Deposit to Spread Account $403,452.24
Spread Account
Beginning Spread Account Balance $12,502,160.02
Deposit to Spread Account from Pre-Funding Account $0.00
Deposit to Spread Account from Excess Collections over Distributions $403,452.24
Distribution from Spread Account for Interest / Principal Shortfall $0.00
Preliminary Spread Account Balance Remaining $12,905,612.26
Specified Spread Account Balance $12,502,160.02
Release from Spread Account to Seller as "Excess Servicing Fee" $0.00
Release from Spread Account to Noteholders as Principal $403,452.24
Ending Spread Account Balance (after distributions) $12,502,160.02
Credit Enhancement 25.58%
Spread account % of Ending Pool Balance 8.75%
Overcollateralization % of Ending Pool Balance 16.83%
Current Month CPR 6.85%
Life-to-Date CPR 20.50%
Scheduled Amounts 30 - 59 days past due $1,121,221.42
as % of Ending Pool Balance 0.78%
Scheduled Amounts 60 days or more past due $955,809.94
as % of Ending Pool Balance 0.67%
Net Losses on Liquidated Receivables $99,010.36
as % of Ending Pool Balance 0.07%
<PAGE>
PART III -- SERVICING CALCULATIONS 16-Nov-98
1. Sources and Uses of Collection Account Balance Pool 1 Pool 2 Pool 3 Pool 4
Wtd. Avg. APR 8.745% 8.719% 8.784% 8.644%
Contract Value (Beg. of Collection Period), by origination pool $89,582,991.08 $23,847,760.74 $21,828,866.16 $17,081,860.71
Contract Value (End of Collection Period), by origination pool $83,119,604.77 $22,448,741.83 $20,918,468.21 $16,375,374.24
Contract Value Decline $6,463,386.31 $1,399,018.90 $910,397.95 $706,486.47
Initial Pool Balance 625,108,001.05
Pool Balance (End of Collection Period) 142,862,189.06
Total Collections and Investment Income for the period $10,622,888.90
Negative Carry Amount $0.00
Total Distribution Amount (TDA) $10,622,888.90
Principal Distribution Amount (PDA) $9,479,289.63
Interest Distribution Amount (IDA) $1,143,599.27
2. Calculation of Distributable Amounts
A-1 Note Beginning Principal Balance $0.00
A-1 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-1 Noteholders' Share of the Principal Distribution Amount 0.00%
A-1 Noteholders' Principal Distributable Amount $0.00
A-2 Note Beginning Principal Balance 107,160,901.08
A-2 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-2 Noteholders' Share of the Principal Distribution Amount 100.00%
A-2 Noteholders' Principal Distributable Amount $9,479,289.63
Certificate Beginning Principal Balance $25,000,000.00
Certificateholders' Principal Carryover Shortfall (Previous Period) $0.00
Certificateholders' Share of the Principal Distribution Amount 0.00%
Certificateholders' Principal Distributable Amount $0.00
Interest Accrued on Class A-1 Notes this period $0.00
Noteholders' Interest Carryover Shortfall (Previous Period) applicable
to A-1 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount applicable to A-1 Notes $0.00
Interest Accrued on Class A-2 Notes this period $491,154.13
Noteholders' Interest Carryover Shortfall (Previous Period) applicable
to A-2 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount applicable to A-2 Notes $491,154.13
Interest Accrued on Class A-1 and A-2 Notes this period $491,154.13
Noteholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount $491,154.13
Interest Accrued on Certificates this period $121,875.00
Certificateholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on Above Shortfall $0.00
Certificateholders' Interest Distributable Amount $121,875.00
3. Allocation of Total Distribution Amount
Total Distribution Amount $10,622,888.90
Administration Fee Shortfall (Previous Period) $0.00
Administration Fee Accrued during this Period $166.67
Administration Fee Paid this Period from TDA $166.67
Administration Fee Shortfall $0.00
Total Distribution Amount Remaining $10,622,722.23
Noteholders' Interest Carryover Shortfall (Previous Period) applicable
to A-1 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class A-1 Notes this period $0.00
Noteholders' Interest applicable to A-1 Notes Paid this Period from TDA $0.00
Preliminary Noteholders' Interest Carryover Shortfall (Current Period)
applicable to A-1 Notes $0.00
Noteholders' Interest Carryover Shortfall (Previous Period) applicable
to A-2 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class A-2 Notes this period $491,154.13
Noteholders' Interest applicable to A-2 Notes Paid this Period from TDA $491,154.13
Preliminary Noteholders' Interest Carryover Shortfall (Current Period)
applicable to A-2 Notes $0.00
Noteholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class A-1 and A-2 Notes this period $491,154.13
Noteholders' Interest Paid this Period from TDA $491,154.13
Preliminary Noteholders' Interest Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $10,131,568.10
A-1 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-1 Noteholders' Monthly Principal Distributable Amount $0.00
A-1 Noteholders' Principal Distributable Amount Paid from TDA $0.00
Preliminary A-1 Noteholders' Principal Carryover Shortfall (Current
Period) $0.00
Total Distribution Amount Remaining $10,131,568.10
<PAGE>
A-2 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-2 Noteholders' Monthly Principal Distributable Amount $9,479,289.63
A-2 Noteholders' Principal Distributable Amount Paid from TDA $9,479,289.63
Preliminary A-2 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $652,278.47
Certificateholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on Above Shortfall $0.00
Interest Accrued on Certificates this period $121,875.00
Certificateholders' Interest Paid this Period from TDA $121,875.00
Preliminary Certificateholders' Interest Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $530,403.47
Certificateholders' Principal Carryover Shortfall (Previous Period) $0.00
Certificateholders' Principal Distributable Amount applicable to current period $0.00
Certificateholders' Principal Distributable Amount Paid from TDA $0.00
Preliminary Certificateholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $530,403.47
Servicing Fee Shortfall (Previous Period) $0.00
Servicing Fees Accrued during this Period $126,951.23
Servicing Fees Paid this Period from TDA $126,951.23
Servicing Fee Shortfall $0.00
Total Distribution Amount Remaining to Deposit to Spread Acct $403,452.24
4. Reconciliation of Pre-Funding Account
Beginning Pre-Funding Account Balance $0.00
New Collateral Purchased $0.00
Deposit to Spread Account $0.00
Payment to Seller $0.00
Ending Pre-Funding Account Balance $0.00
Excess Pre-Funded Amount/(Payment to Seller)
Adjusted Ending Pre-Funding Account Balance
5. Reconciliation of Negative Carry Account
Beginning Negative Carry Account Balance $0.00
Pre-Funded Percentage 0.000%
Negative Carry Amount $0.00
Cumulative Negative Carry Amount $433,178.05
Maximum Negative Carry Amount $0.00
Required Negative Carry Account Balance $0.00
Interim Ending Negative Carry Account Balance $0.00
Negative Carry Amount Released to Seller $0.00
Ending Negative Carry Account Balance $0.00
6. Distributions from Spread Account
Beginning Spread Account Balance $12,502,160.02
Deposit to Spread Account from Pre-Funding Account $0.00
Deposit to Spread Account from Excess Collections over Distributions $403,452.24
Distribution from Spread Account to Noteholders' Distr. Account $0.00
Adjustment to Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable
to A-1 Note $0.00
Adjustment to Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable
to A-2 Note $0.00
Adjustment to Preliminary A-1 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Adjustment to Preliminary A-2 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Preliminary Spread Account Balance Remaining $12,905,612.26
Distribution from Spread Account to Certificateholders' Distr. Account $0.00
Adjustment to Preliminary Certificateholders' Interest Carryover Shortfall (Current Period) $0.00
Adjustment to Prelim. Certificateholders' Principal Carryover Shortfall (Current Period) $0.00
Preliminary Spread Account Balance Remaining $12,905,612.26
Cumulative Realized Losses since 31-January-95 (Cut-off Date) $1,337,809.98
Are Cum. Realized Losses > 2.25% of Initial Pool Balance? NO
12*(Realized Losses during Collection Period + Repos at end of Collection Period) $1,188,124.32
Is 12*Realized Losses + Unliq. Repos > 1.65% of Beg. Pool Balance? NO
60 day or > Delinquent Scheduled Amounts $955,809.94
Are 60 day or > Delinquencies > 2.25% of Ending Pool Balance? NO
Are any of the three conditions "YES"? NO
Preliminary A-1 Note Principal Balance (End of Period) $0.00
Preliminary A-2 Note Principal Balance (End of Period) $97,681,611.44
Preliminary Certificate Principal Balance (End of Period) $25,000,000.00
Preliminary Total Principal Balance of Notes and Certificates (End of Period) $122,681,611.44
Specified Spread Account Balance $12,502,160.02
Greater of:
(a) 3.75% of Pool Balance at end of Collection Period; and $5,357,332.09
<PAGE>
(b)(i) 2.50% of Initial Pool Balance (Until Outstanding Note and
Certificate Balance = Spread Account), or $15,627,700.03
(b)(ii) 2.25% of Initial Pool Balance (when principal amount of Notes
and Certificates < or = 97.50% of Pool Balance), or $14,064,930.02
(b)(iii) 2.00% of Initial Pool Balance (when principal amount of Notes
and Certificates < or = 96.25% of Pool Balance) $12,502,160.02
Preliminary Spread Account Balance Remaining $12,905,612.26
Preliminary Excess Amount in Spread Account $403,452.24
Release from Spread Account to Seller as "Excess Servicing Fee" $0.00
Release from Spread Account to Noteholders as Principal $403,452.24
Ending Spread Account Balance (after distributions) $12,502,160.02
Net Change in Spread Account Balance $0.00
7. Ending Balances
Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-1 Notes $0.00
Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-2 Notes $0.00
A-1 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
A-2 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Certificateholders' Interest Carryover Shortfall (Ending Balance) $0.00
Certificateholders' Principal Carryover Shortfall (Ending Balance) $0.00
A-1 Note Principal Balance (End of Period) $0.00
A-2 Note Principal Balance (End of Period) $97,278,159.21
Certificate Principal Balance (End of Period) $25,000,000.00
Total Principal Balance of Notes and Certificates (End of Period) $122,681,611.44
A-1 Note Pool Factor (End of Period) 0.0000000
A-2 Note Pool Factor (End of Period) 0.1896260
Certificate Pool Factor (End of Period) 1.0000000
Total Notes & Certificates Pool Factor (End of Period) 0.1962906
Specified Spread Account Balance (after all distributions and adjustments) $12,502,160.02
<PAGE>
CASE EQUIPMENT LOAN TRUST 1996-A
STATEMENT TO NOTEHOLDERS
$87,000,000 Class A-1 5.00% Money Market Asset Backed Notes due February 15, 1997
$513,000,000 Class A-2 5.50% Asset Backed Notes due February 15, 2003
$25,000,000 5.85% Asset Backed Certificates due February 15, 2003
Payment Date: 16-Nov-98
(1) Amount of principal being paid on the Notes:
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(b) A-2 Notes: $9,882,741.87
per $1,000 original principal amount: $19.26460404
(c) Total $9,882,741.87
(2) Interest on the Notes
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(b) A-2 Notes: $491,154.13
per $1,000 original principal amount: $0.95741546
(c) Total $491,154.13
(3) Pool Balance at the end of the related Collection Period $142,862,189.06
(4) After giving effect to distributions on current Payment Date:
(a) (i) outstanding principal amount of A-1 Notes: $0.00
(ii) A-1 Note Pool Factor:
0.0000000
(b) (i) outstanding principal amount of A-2 Notes: $97,278,159.21
(ii) A-2 Note Pool Factor: 0.1896260
(c) (i) Certificate Balance $25,000,000.00
(ii) Certificate Pool Factor:
1.0000000
(5) Amount of Servicing Fee: $126,951.23
per $1,000 Initial Pool Balance: 0.20308688
(6) Amount of Administration Fee: $166.67
per $1,000 Initial Pool Balance: 0.00026662
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $99,010.36
(9) Amount in Spread Account: $12,502,160.02
(10) Amount in Pre-Funding Account: $0.00
(11) For the Final payment date with respect to the Funding Period, the $0.00
Remaining Pre-Funded Amount
(12) Amount in Negative Carry Account: $0.00
<PAGE>
CASE EQUIPMENT LOAN TRUST 1996-A
STATEMENT TO CERTIFICATEHOLDERS
$87,000,000 Class A-1 5.00% Money Market Asset Backed Notes due February 15, 1997
$513,000,000 Class A-2 5.50% Asset Backed Notes due February 15, 2003
$25,000,000 5.85% Asset Backed Certificates due February 15, 2003
Payment Date: 16-Nov-98
(1) Amount of principal being paid or distributed:
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(b) A-2 Notes: $9,882,741.87
per $1,000 original principal amount: $19.26460404
(c) Certificates: $0.00
per $1,000 original principal amount: $0.00000000
(d) Total: $9,882,741.87
(2) Amount of interest being paid or distributed:
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(b) A-2 Notes: $491,154.13
per $1,000 original principal amount: $0.95741546
(c) Certificates: $121,875.00
per $1,000 original principal amount: $4.87500000
(d) Total: $613,029.13
(3) Pool Balance at end of related Collection Period: $142,862,189.06
(4) After giving effect to distributions on this Payment Date:
(a) (i) outstanding principal amount of A-1 Notes: $0.00
(ii) A-1 Note Pool Factor: 0.0000000
(b) (i) outstanding principal amount of A-2 Notes: $97,278,159.21
(ii) A-2 Note Pool Factor: 0.1896260
(c) (i) Certificate Balance $25,000,000.00
(ii) Certificate Pool Factor: 1.0000000
(5) Amount of Servicing Fee: $126,951.23
per $1,000 Initial Pool Balance: $0.20308688
(6) Amount of Administration Fee: $166.67
per $1,000 Initial Pool Balance: $0.00026662
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $99,010.36
(9) Amount in Spread Account: $12,502,160.02
(10) Amount in Pre-Funding Account: $0.00
(11) For the Final payment date with respect to the Funding Period, the $0.00
Remaining Pre-Funded Amount
(12) Amount in Negative Carry Account: $0.00
<PAGE>
CASE EQUIPMENT LOAN TRUST 1996-A
PAYMENT AND DEPOSIT INSTRUCTIONS TO INDENTURE TRUSTEE
$87,000,000 Class A-1 5.00% Money Market Asset Backed Notes due February 15, 1997
$513,000,000 Class A-2 5.50% Asset Backed Notes due February 15, 2003
$25,000,000 5.85% Asset Backed Certificates due February 15, 2003
Payment Date: 16-Nov-98
(1) Payment of Administration Fee to Administrator: $166.67
(2) Noteholders' Interest Distributable Amount to be
deposited into Noteholders' Distribution Account: $491,154.13
(3) Noteholders' Principal Distributable Amount to be
deposited into Noteholders' Distribution Account: $9,882,741.87
(4) Certificateholders' Interest Distributable Amount to be
deposited into Certificateholders' Distribution Account: $121,875.00
(5) Certificateholders' Principal Distributable Amount to be
deposited into Certificateholders' Distribution Account: $0.00
(6) Payment of Servicing Fee to Servicer: $126,951.23
(7) Deposit to Spread Account from Excess Collections over Distributions: $403,452.24
Check for Spread Account Draw NO
Sum of Above Distributions $11,026,341.14
Total Distribution Amount plus Turbo $11,026,341.14
<PAGE>
CASE EQUIPMENT LOAN TRUST 1996-A
SERVICER'S CERTIFICATE
$87,000,000 Class A-1 5.00% Money Market Asset Backed Notes due February 15, 1997
$513,000,000 Class A-2 5.50% Asset Backed Notes due February 15, 2003
$25,000,000 5.85% Asset Backed Certificates due February 15, 2003
Payment Date: 16-Nov-98
(1) Total Distribution Amount: $10,622,888.90
(2) Administration Fee: $166.67
(3) Noteholders' Interest Distributable Amount applicable to A-1 Notes: $0.00
(4) Noteholders' Interest Carryover Shortfall applicable to A-1 Notes: $0.00
(5) Noteholders' Interest Distributable Amount applicable to A-2 Notes: $491,154.13
(6) Noteholders' Interest Carryover Shortfall applicable to A-2 Notes: $0.00
(7) Noteholders' Interest Distributable Amount: $491,154.13
(8) A-1 Noteholders' Monthly Principal Distributable Amount: $0.00
(9) % of Principal Distribution Amount applicable to A-1 Noteholders 0.00%
(10) A-1 Noteholders' Principal Carryover Shortfall: $0.00
(11) A-1 Noteholders' Principal Distributable Amount: $0.00
(12) A-2 Noteholders' Monthly Principal Distributable Amount: $9,479,289.63
(13) % of Principal Distribution Amount applicable to A-2 Noteholders 100.00%
(14) A-2 Noteholders' Principal Carryover Shortfall: $0.00
(15) A-2 Noteholders' Principal Distributable Amount: $9,882,741.87
(16) Noteholders' Principal Distributable Amount: $9,882,741.87
(17) Noteholders' Distributable Amount: $10,373,896.00
(18) Certificateholders' Interest Distributable Amount: $121,875.00
(19) Certificateholders' Interest Carryover Shortfall: $0.00
(20) Certificateholders' Percentage: 0.00%
(21) Certificateholders' Principal Distributable Amount applicable to current period $0.00
(22) Certificateholders' Principal Carryover Shortfall: $0.00
(23) Certificateholders' Principal Distributable Amount: $0.00
(24) Certificateholders' Distributable Amount: $121,875.00
(25) Servicing Fee: $126,951.23
(26) Deposit to Spread Account (from excess collections): $403,452.24
(27) Specified Spread Account Balance (after all distributions and adjustments) : $12,502,160.02
The greater of:
(a) 3.75% of the Pool Balance at the beginning of the Collection Period
in which the Payment Date occurs; and $5,357,332.09
(b)(i) 2.50% of Initial Pool Balance (Until Outstanding Note and Certificate
Balance = Spread Account), or $15,627,700.03
(b)(ii) 2.25% of the Initial Pool Balance when principal amount of Notes
and Certificates < or = 97.50% of Pool Balance $14,064,930.02
(b)(iii) 2.00% of the Initial Pool Balance when principal amount of Notes
and Certificates < or = 96.25% of Pool Balance $12,502,160.02
(28) Spread Account Trigger Tests:
(a) (i) Aggregate Realized Losses from the Initial Cutoff Date through
the end of the related Collection Period: $1,337,809.98
(ii) 2.25% of the Initial Pool Balance: $14,064,930.02
(b) (i) 12 times the sum of (x) the aggregate Realized Losses during the
related Collection Period and (y) the aggregate Contract Value
of all Receivables as to which the related Finance Equipment
has been repossessed but in which the receivable has not been liquidated: $1,188,124.32
(ii) 1.65% of the Pool Balance at the beginning of the Collection Period: $2,513,634.40
(c) (i) Aggregate Scheduled Payments delinquent by more than 60 days
as of the end of the related Collection Period: $955,809.94
(ii) 2.25% of the Pool Balance at the beginning of the Collection Period
<PAGE>
in which the Payment Date occurs: $3,214,399.25
(29) Spread Account Balance over the Specified Spread Account Balance: $403,452.24
(30) Excess Amounts Distributed To Seller:
(a) Release of Excess Amount in Spread Account $0.00
(b) Release of Excess Amount in Negative Carry Account 0
(31) Amount to be withdrawn from the Spread Account and deposited
into the Note Distribution Account $0.00
(32) Amount to be withdrawn from the Spread Account and deposited
into the Certificate Distribution Account: $0.00
(33) Pool Balance as of the opening of business on the first day of
the Collection Period in which the Payment Date occurs: $142,862,189.06
(34) After giving effect to all distributions on such Payment Date:
Outstanding Principal Balance of A-1 Notes: $0.00
A-1 Note Pool Factor: 0.0000000
Outstanding Principal Balance of A-2 Notes: $97,278,159.21
A-2 Note Pool Factor: 0.1896260
Outstanding Principal Balance of the Certificates: $25,000,000.00
Certificate Pool Factor: 1.0000000
(35) Aggregate Purchase Amounts for related Collection Period: $0.00
(36) Aggregate Amount of Realized Losses for the related Collection Period: $99,010.36
(37) Spread Account Balance after giving effect to all distributions: $12,502,160.02
(38) Originally Scheduled Pool Balance as of the opening of business on the
first day of the Collection Period in which the Payment Date occurs: $268,466,222.25
(39) Number of Collection Periods since Completion of Funding Period 33
(40) Current Month CPR 6.85%
(41) Life-to-Date CPR 20.50%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CASE EQUIPMENT LOAN TRUST 1996-B
$125,000,000 Class A-1 5.5625% Asset Backed Notes due September 15, 1997
$362,000,000 Class A-2 6.25% Asset Backed Notes due September 15, 2003
$329,000,000 Class A-3 6.65% Asset Backed Notes due September 15, 2003 NPV Data Input Section
$25,000,000 Class B Asset Backed Notes due September 15, 2003 Scheduled cash flows as of the end of the collection period
$34,000,000 6.95% Asset Backed Certificates due September 15, 2003 Line 0 is scheduled amount delinquent
<S><C>
Prepared by Lisa Sorenson, Phone 414-636-6184
IRR Calc (pool 1) 05-Nov-98 05-Nov-98 5-Nov-98 5-Nov-98 5-Nov-98 5-Nov-98
8.309% Pool 1 Pool 2 Pool 3 Pool 4 Pool 5 Pool 6
0 (467,425,285.55) 3,741,295.08 33,419.78 1,638,186.65 2,630,934.41 3,187,931.45 66,896.60
1 15,757,657.24 6,847,149.06 22,838.90 1,561,406.89 1,664,875.79 3,753,646.23 245,438.09
2 10,488,530.06 6,890,008.58 29,623.12 1,623,149.88 1,536,593.25 1,460,607.12 256,522.17
3 11,648,174.21 5,339,934.06 0.00 1,083,743.01 1,235,035.03 930,763.97 52,248.60
4 13,676,813.20 4,658,824.50 8,447.17 1,107,014.31 1,079,757.71 817,297.50 59,757.98
5 9,531,315.06 6,508,223.53 0.00 936,767.30 1,171,545.30 968,049.37 77,994.83
6 8,372,935.20 10,373,505.92 0.00 777,289.34 1,069,548.69 1,076,256.39 80,452.53
7 11,722,851.90 8,861,489.88 0.00 698,280.20 886,728.02 884,749.28 67,235.61
8 17,207,560.18 10,202,055.01 0.00 711,711.30 997,319.87 987,945.46 55,050.04
9 14,691,800.81 8,430,771.29 0.00 1,115,555.45 1,154,027.34 945,043.32 59,322.32
10 17,197,279.08 5,794,981.16 0.00 5,765,067.39 2,640,170.55 1,504,879.22 94,303.63
11 15,504,490.86 3,162,900.50 0.00 2,811,163.69 6,056,760.00 1,457,868.81 54,650.50
12 11,904,998.66 3,791,372.16 0.00 1,031,377.07 3,713,523.77 6,857,306.37 85,180.91
13 7,211,819.84 5,091,499.04 0.00 1,135,468.99 1,261,603.72 3,476,920.95 299,637.80
14 8,633,057.26 5,058,527.36 0.00 1,150,494.77 1,165,665.67 1,171,551.91 246,922.57
15 10,443,070.12 3,781,928.98 0.00 780,054.24 884,577.31 728,100.60 44,855.29
16 11,720,349.94 3,416,984.62 0.00 805,572.05 814,706.23 644,586.94 39,654.59
17 8,564,089.35 5,017,901.22 0.00 621,678.13 765,522.53 685,941.94 55,435.04
18 7,479,246.64 7,936,207.40 0.00 517,524.24 751,543.06 811,864.13 73,059.22
19 10,611,284.66 5,521,510.16 0.00 466,050.40 614,899.86 633,088.35 56,810.43
20 16,496,614.28 5,497,079.88 0.00 481,583.08 721,089.04 776,473.30 47,656.73
21 14,115,082.64 5,095,942.50 0.00 760,168.21 836,997.95 705,817.68 52,141.43
22 16,562,222.16 3,230,750.96 0.00 4,614,351.86 2,101,701.56 1,146,007.56 69,029.18
23 14,840,653.37 944,038.36 0.00 2,112,349.84 4,673,538.59 1,156,179.48 47,656.73
24 11,271,867.97 1,206,127.87 0.00 592,127.61 2,852,000.65 5,669,719.86 73,421.15
25 6,644,313.99 1,857,881.20 0.00 629,774.79 742,533.43 2,604,932.94 214,637.97
26 7,693,316.20 1,916,244.26 0.00 596,812.36 513,675.18 525,747.07 222,609.69
27 9,795,133.28 1,082,362.95 0.00 274,787.20 392,571.54 246,333.49 10,864.84
28 10,958,156.04 955,427.66 0.00 277,111.90 316,330.45 184,715.64 7,448.27
29 8,033,198.42 1,868,440.02 0.00 229,577.00 267,294.80 240,831.16 7,448.27
30 7,001,521.70 3,025,721.95 0.00 153,909.14 265,858.35 222,788.65 10,930.99
31 10,001,306.67 1,924,709.71 0.00 91,601.02 179,819.44 122,055.15 16,639.55
32 15,686,375.93 2,145,401.79 0.00 106,970.69 193,422.18 247,840.25 9,309.26
33 13,305,308.18 1,559,791.43 0.00 299,235.68 312,286.25 179,220.65 9,308.26
34 15,253,592.56 822,854.03 0.00 2,180,254.55 1,038,063.58 361,746.76 8,537.25
35 13,439,340.18 211,896.12 0.00 885,026.69 1,955,238.78 419,914.72 8,537.25
36 9,627,709.80 175,674.42 0.00 292,941.80 1,406,412.20 2,255,464.49 30,057.76
37 4,845,435.52 206,829.81 0.00 134,973.47 292,047.70 1,445,799.32 101,765.59
38 5,846,192.76 169,089.19 0.00 196,517.55 107,726.67 197,218.58 80,586.36
39 7,626,986.55 106,778.73 0.00 59,650.18 90,591.82 16,492.77 0.00
40 8,420,026.39 23,819.43 0.00 21,930.87 7,967.18 42,541.21 0.00
41 6,063,594.56 208,412.81 0.00 358.23 22,259.18 72,378.22 0.00
42 5,223,953.51 189,230.68 0.00 0.00 1,178.75 6,349.83 0.00
43 7,797,581.78 63,017.17 0.00 0.00 1,178.75 2,611.64 0.00
44 12,241,335.77 155,591.48 0.00 0.00 1,178.75 17,465.92 0.00
45 8,547,844.85 0.00 0.00 21,298.52 1,178.75 1,474.69 0.00
46 9,171,743.38 0.00 0.00 37,282.02 68,591.52 38,177.92 0.00
<PAGE>
47 8,838,821.22 9,386.14 0.00 0.00 100,531.27 80,814.05 0.00
48 5,892,614.25 0.00 0.00 0.00 1,934.52 152,353.15 12,875.67
49 1,524,196.03 0.00 0.00 0.00 0.00 0.00 0.00
50 2,155,353.95 0.00 0.00 0.00 0.00 0.00 0.00
51 2,948,921.29 0.00 0.00 0.00 0.00 0.00 0.00
52 3,471,809.78 0.00 0.00 0.00 0.00 0.00 0.00
53 1,939,596.57 0.00 0.00 0.00 0.00 0.00 0.00
54 1,711,213.57 0.00 0.00 0.00 0.00 0.00 0.00
55 3,365,677.46 0.00 0.00 0.00 0.00 0.00 0.00
56 5,657,510.12 0.00 0.00 0.00 0.00 0.00 0.00
57 3,605,516.92 0.00 0.00 0.00 0.00 0.00 0.00
58 3,745,028.73 0.00 0.00 0.00 0.00 0.00 0.00
59 3,458,411.68 0.00 0.00 0.00 0.00 0.00 0.00
60 1,765,194.32 0.00 0.00 0.00 0.00 0.00 0.00
61 308,041.89 0.00 0.00 0.00 0.00 0.00 0.00
62 231,422.23 0.00 0.00 0.00 0.00 0.00 0.00
63 276,666.19 0.00 0.00 0.00 0.00 0.00 0.00
64 336,307.15 0.00 0.00 0.00 0.00 0.00 0.00
65 135,733.57 0.00 0.00 0.00 0.00 0.00 0.00
66 82,298.61 0.00 0.00 0.00 0.00 0.00 0.00
67 356,451.64 0.00 0.00 0.00 0.00 0.00 0.00
68 354,314.13 0.00 0.00 0.00 0.00 0.00 0.00
69 125,457.56 0.00 0.00 0.00 0.00 0.00 0.00
70 223,408.04 0.00 0.00 0.00 0.00 0.00 0.00
71 26,132.80 0.00 0.00 0.00 0.00 0.00 0.00
72 0.00 0.00 0.00 0.00 0.00 0.00 0.00
73 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Time Balance of
Scheduled Cash Flows
551,413,832.41 155,079,570.06 94,328.97 41,388,149.56 51,560,536.94 52,123,865.46 3,112,890.95
<PAGE>
CASE EQUIPMENT LOAN TRUST 1996-B
$125,000,000 Class A-1 5.5625% Asset Backed Notes due September 15, 1997
$362,000,000 Class A-2 6.25% Asset Backed Notes due September 15, 2003
$329,000,000 Class A-3 6.65% Asset Backed Notes due September 15, 2003
$25,000,000 Class B Asset Backed Notes due September 15, 2003
$34,000,000 6.95% Asset Backed Certificates due September 15, 2003
Prepared by Lisa Sorenson, Phone 414-636-6184 11/18/98
03:58 PM
Payment Date 16-Nov-98
Collection Period Begin Date 06-Oct-98
Collection Period End Date 31-Aug-96 05-Nov-98
Days in accrual period (30/360) 30
PART I -- MONTHLY DATA INPUT
Total Receipts During the Period $20,942,076.61
Warranty Repurchases
Contracts deferred beyond Final Scheduled Maturity Date $0.00
Government obligors $0.00
Total Warranty Repurchases $0.00
Total Collections For The Period $20,942,076.61
Miscellaneous Data
Scheduled Amounts 30 - 59 days past due $3,724,936.48
Scheduled Amounts 60 days or more past due $1,553,098.04
Net Losses on Liquidated Receivables $82,387.46
Number of Loans at Beginning of Period 19,493
Number of Loans at End of Period 18,999
Repossessed Equipment not Sold or Reassigned (Beginning) $0.00
Repossessed Equipment not Sold or Reassigned (End) $0.00
Reinvestment Income (including Pre-Funding Account) $143,479.32
Pre-Funding Account Reinvestment Income $0.00
Additional Class B Notes (max $75,000,000) $0.00
<PAGE>
CASE EQUIPMENT LOAN TRUST 1996-B
$125,000,000 Class A-1 5.5625% Asset Backed Notes due September 15, 1997
$362,000,000 Class A-2 6.25% Asset Backed Notes due September 15, 2003
$329,000,000 Class A-3 6.65% Asset Backed Notes due September 15, 2003
$25,000,000 Class B Asset Backed Notes due September 15, 2003
$34,000,000 6.95% Asset Backed Certificates due September 15, 2003
Payment Date 16-Nov-98
Collection Period Begin Date 06-Oct-98
Collection Period End Date 05-Nov-98
PART II -- SUMMARY
Total Principal Balance of Notes and Certificates (Beginning of Period) $277,968,586.90
A-1 Note Beginning Principal Balance $0.00
A-2 Note Beginning Principal Balance $0.00
A-3 Note Beginning Principal Balance $230,624,788.44
B Note Beginning Principal Balance $17,524,679.97
Certificate Beginning Principal Balance $29,819,118.49
Total Principal Balance of Notes and Certificates (End of Period) $258,680,898.76
A-1 Note Principal Balance (End of Period) $0.00
A-1 Note Pool Factor (End of Period) 0.0000000
A-2 Note Principal Balance (End of Period) $0.00
A-2 Note Pool Factor (End of Period) 0.0000000
A-3 Note Principal Balance (End of Period) $213,403,436.06
A-3 Note Pool Factor (End of Period) 0.6486427
B Note Principal Balance (End of Period) $16,216,066.57
B Note Pool Factor (End of Period) 0.6486427
Certificate Principal Balance (End of Period) $29,061,396.14
Certificate Pool Factor (End of Period) 0.8547469
Contract Value Decline $18,943,058.85
Pool Balance (Beg. of Collection Period) 293,495,633.29
Pool Balance (End of Collection Period) $274,552,574.44
Total Distribution Amount (TDA) $21,085,555.93
Total Collections and Investment Income for the Period $21,085,555.93
Negative Carry Amount $0.00
Administration Fee Accrued during this Period $166.67
Principal Distribution Amount (PDA) $18,943,058.85
Release from Spread Account to A-1 Noteholders as Principal $0.00
Release from Spread Account to A-2 Noteholders as Principal $0.00
Release from Spread Account to A-3 Noteholders as Principal $320,291.06
Release from Spread Account to B Noteholders as Principal $24,338.23
A-1 Noteholders' Principal Distributable Amount $0.00
A-2 Noteholders' Principal Distributable Amount $0.00
A-3 Noteholders' Principal Distributable Amount $16,901,061.32
B Noteholders' Principal Distributable Amount $1,284,275.18
Certificateholders' Principal Distributable Amount $757,722.35
Interest Distributable Amount $1,553,121.44
Noteholders' Interest Distributable Amount applicable to A-1 Notes $0.00
Noteholders' Interest Distributable Amount applicable to A-2 Notes $0.00
Noteholders' Interest Distributable Amount applicable to A-3 Notes $1,278,045.70
Noteholders' Interest Distributable Amount applicable to B Notes $102,373.34
<PAGE>
Certificateholders' Interest Distributable Amount $172,702.39
Servicing Fees Accrued during this Period $244,579.69
Total Distribution Amount Remaining to Deposit to Spread Account $344,629.29
Spread Account
Beginning Spread Account Balance $17,517,793.16
Deposit to Spread Account from Pre-Funding Account/Additional Class B Notes $0.00
Deposit to Spread Account from Excess Collections over Distributions $344,629.29
Distribution from Spread Account for Interest / Principal Shortfall $0.00
Preliminary Spread Account Balance Remaining $17,862,422.45
Specified Spread Account Balance $17,517,793.16
Release from Spread Account to Seller as "Excess Servicing Fee" $0.00
Ending Spread Account Balance (after distributions) $17,517,793.16
Credit Enhancement 12.52%
Spread account % of Ending Pool Balance 6.38%
Overcollateralization % of Ending Pool Balance 6.14%
Life-to-Date CPR 23.69%
Scheduled Amounts 30 - 59 days past due $3,724,936.48
as % of Ending Pool Balance 1.36%
Scheduled Amounts 60 days or more past due $1,553,098.04
as % of Ending Pool Balance 0.57%
Net Losses on Liquidated Receivables $82,387.46
as % of Ending Pool Balance 0.03%
<PAGE>
PART III -- SERVICING CALCULATIONS 16-Nov-98
1. Sources and Uses of
Collection Account Balance Pool 1 Pool 2 Pool 3 Pool 4 Pool 5 Pool 6
Wtd. Avg. APR 8.310% 6.782% 9.186% 9.025% 9.089% 8.864%
Contract Value (Beg. of
Collection Period), by
origination pool $148,921,034.61 $132,090.95 $38,882,127.26 $50,772,511.35 $51,853,779.04 $2,934,090.08
Contract Value (End of
Collection Period),
by origination pool $142,190,281.21 $93,680.30 $36,990,798.32 $45,970,914.24 $46,512,122.39 $2,794,777.98
Contract Value Decline $6,730,753.40 $38,410.65 $1,891,328.94 $4,801,597.11 $5,341,656.65 $139,312.10
Initial Pool Balance $875,889,658.01 18,943,058.85
Pool Balance (End of
Collection Period) $274,552,574.44
Total Collections and
Investment Income for the
period $21,085,555.93
Negative Carry Amount $0.00
Total Distribution Amount
(TDA) $21,085,555.93
Principal Distribution Amount
(PDA) $18,943,058.85
Interest Distribution Amount
(IDA) $2,142,497.08
2. Calculation of
Distributable Amounts
A-1 Note Beginning Principal
Balance $0.00
A-1 Noteholders' Principal
Carryover Shortfall
(Previous Period) $0.00
A-1 Noteholders' Share of
the Principal Distribution
Amount 0.00%
A-1 Noteholders' Principal
Distributable Amount $0.00
A-2 Note Beginning Principal
Balance $0.00
A-2 Noteholders' Principal
Carryover Shortfall
(Previous Period) $0.00
A-2 Noteholders' Share of the
Principal Distribution Amount 0.00%
A-2 Noteholders' Principal
Distributable Amount $0.00
A-3 Note Beginning Principal
Balance $230,624,788.44
A-3 Noteholders' Principal
Carryover Shortfall
(Previous Period) $0.00
A-3 Noteholders' Share of the
Principal Distribution Amount 89.22%
A-3 Noteholders' Principal
Distributable Amount $16,901,061.32
B Note Beginning Principal
Balance $17,524,679.97
B Noteholders' Principal
Carryover Shortfall
(Previous Period) $0.00
B Noteholders' Share of the
Principal Distribution Amount 6.78%
B Noteholders' Principal
Distributable Amount $1,284,275.18
Certificate Beginning
Principal Balance $29,819,118.49
Certificateholders'
Principal Carryover
Shortfall (Previous Period) $0.00
Certificateholders' Share of
the Principal Distribution
Amount 4.00%
Certificateholders' Principal
Distributable Amount $757,722.35
Interest Accrued on Class A-1
Notes this period $0.00
Noteholders' Interest
Carryover Shortfall
(Previous Period) applicable
to A-1 Notes $0.00
Interest Due (in Arrears) on
above Shortfall $0.00
Noteholders' Interest
Distributable Amount
applicable to A-1 Notes $0.00
Interest Accrued on
Class A-2 Notes this period $0.00
Noteholders' Interest
Carryover Shortfall
(Previous Period)
applicable to A-2 Notes $0.00
Interest Due (in Arrears)
on above Shortfall $0.00
Noteholders' Interest
Distributable Amount
applicable to A-2 Notes $0.00
Interest Accrued on
Class A-3 Notes this period $1,278,045.70
Noteholders' Interest
Carryover Shortfall
(Previous Period)
applicable to A-3 Notes $0.00
Interest Due (in Arrears) on
above Shortfall $0.00
<PAGE>
Noteholders' Interest Distributable Amount applicable to A-3 Notes $1,278,045.70
Interest Accrued on Class A-1, A-2 and A-3 Notes this period $1,278,045.70
Offered Noteholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Offered Noteholders' Interest Distributable Amount $1,278,045.70
Interest Accrued on Class B Notes this period $102,373.34
Noteholders' Interest Carryover Shortfall (Previous Period) applicable to B Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount applicable to B Notes $102,373.34
Interest Accrued on Certificates this period $172,702.39
Certificateholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on Above Shortfall $0.00
Certificateholders' Interest Distributable Amount $172,702.39
3. Allocation of Total Distribution Amount
Total Distribution Amount $21,085,555.93
Administration Fee Shortfall (Previous Period) $0.00
Administration Fee Accrued during this Period . $166.67
Administration Fee Paid this Period from TDA $166.67
Administration Fee Shortfall $0.00
Total Distribution Amount Remaining $21,085,389.26
<PAGE>
Noteholders' Interest Carryover Shortfall (Previous Period) applicable to A-1 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class A-1 Notes this period $0.00
Noteholders' Interest applicable to A-1 Notes Paid this Period from TDA $0.00
Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-1 Notes $0.00
Noteholders' Interest Carryover Shortfall (Previous Period) applicable to A-2 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class A-2 Notes this period $0.00
Noteholders' Interest applicable to A-2 Notes Paid this Period from TDA $0.00
Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-2 Notes $0.00
Noteholders' Interest Carryover Shortfall (Previous Period) applicable to A-3 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class A-3 Notes this period $1,278,045.70
Noteholders' Interest applicable to A-3 Notes Paid this Period from TDA $1,278,045.70
Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-3 Notes $0.00
Offered Noteholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class A-1, A-2 and A-3 Notes this period $1,278,045.70
Offered Noteholders' Interest Paid this Period from TDA $1,278,045.70
Preliminary Noteholders' Interest Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $19,807,343.56
A-1 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-1 Noteholders' Monthly Principal Distributable Amount $0.00
A-1 Noteholders' Principal Distributable Amount Paid from TDA $0.00
Preliminary A-1 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $19,807,343.56
A-2 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-2 Noteholders' Monthly Principal Distributable Amount $0.00
A-2 Noteholders' Principal Distributable Amount Paid from TDA $0.00
Preliminary A-2 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $19,807,343.56
A-3 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-3 Noteholders' Monthly Principal Distributable Amount $16,901,061.32
A-3 Noteholders' Principal Distributable Amount Paid from TDA $16,901,061.32
Preliminary A-3 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $2,906,282.24
Noteholders' Interest Carryover Shortfall (Previous Period) applicable to B Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class B Notes this period $102,373.34
Noteholders' Interest applicable to B Notes Paid this Period from TDA $102,373.34
Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to B Notes $0.00
Total Distribution Amount Remaining $2,803,908.90
B Noteholders' Principal Distributable Amount $0.00
B Noteholders' Monthly Principal Distributable Amount $1,284,275.18
B Noteholders' Principal Distributable Amount Paid from TDA $1,284,275.18
Preliminary B Noteholders' Principal Carryover Shortfall (Current Period) $0.00
<PAGE>
Total Distribution Amount Remaining $1,519,633.73
Certificateholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on Above Shortfall $0.00
Interest Accrued on Certificates this period $172,702.39
Certificateholders' Interest Paid this Period from TDA $172,702.39
Preliminary Certificateholders' Interest Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $1,346,931.33
Certificateholders' Principal Carryover Shortfall (Previous Period) $0.00
Certificateholders' Principal Distributable Amount applicable to current period $757,722.35
Certificateholders' Principal Distributable Amount Paid from TDA $757,722.35
Preliminary Certificateholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $589,208.98
Servicing Fee Shortfall (Previous Period) $0.00
Servicing Fees Accrued during this Period $244,579.69
Servicing Fees Paid this Period from TDA $244,579.69
Servicing Fee Shortfall $0.00
Total Distribution Amount Remaining to Deposit to Spread Acct $344,629.29
4. Reconciliation of Pre-Funding Account
Beginning Pre-Funding Account Balance $0.00
New Collateral Purchased $0.00
Deposit to Spread Account $0.00
Payment to Seller $0.00
Ending Pre-Funding Account Balance $0.00
<PAGE>
Excess Pre-Funded Amount/(Payment to Seller) $0.00
Adjusted Ending Pre-Funding Account Balance $0.00
5. Reconciliation of Negative Carry Account
Beginning Negative Carry Account Balance $0.00
Pre-Funded Percentage 0.000%
Negative Carry Amount $0.00
Cumulative Negative Carry Amount $1,279,542.53
Maximum Negative Carry Amount $0.00
Required Negative Carry Account Balance $0.00
Interim Ending Negative Carry Account Balance $0.00
Negative Carry Amount Released to Seller $0.00
Ending Negative Carry Account Balance $0.00
6. Distributions from Spread Account
Beginning Spread Account Balance $17,517,793.16
Deposit to Spread Account from Pre-Funding Account/Additional Class B Notes $0.00
Deposit to Spread Account from Excess Collections over Distributions $344,629.29
Distribution from Spread Account to Noteholders' Distr. Account $0.00
Adjustment to Preliminary Noteholders' Interest Carryover Shortfall (Current Period)
applicable to A-1 Notes $0.00
Adjustment to Preliminary Noteholders' Interest Carryover Shortfall (Current Period)
applicable to A-2 Notes $0.00
Adjustment to Preliminary Noteholders' Interest Carryover Shortfall (Current Period)
applicable to A-3 Notes $0.00
Adjustment to Preliminary Noteholders' Interest Carryover Shortfall (Current Period)
applicable to B Notes $0.00
Adjustment to Preliminary A-1 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Adjustment to Preliminary A-2 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Adjustment to Preliminary A-3 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Adjustment to Preliminary B Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Preliminary Spread Account Balance Remaining $17,862,422.45
Distribution from Spread Account to Certificateholders' Distr. Account $0.00
Adjustment to Preliminary Certificateholders' Interest Carryover Shortfall (Current Period) $0.00
Adjustment to Prelim. Certificateholders' Principal Carryover Shortfall (Current Period) $0.00
Preliminary Spread Account Balance Remaining $17,862,422.45
Cumulative Realized Losses since 31-August-96 (Cut-off Date) $2,221,700.44
Are Cum. Realized Losses > 2.25% of Initial Pool Balance? NO
12*(Realized Losses during Collection Period + Repos at end of Collection Period) $988,649.52
Is 12*Realized Losses + Unliq. Repos > 1.65% of Beg. Pool Balance? NO
60 day or > Delinquent Scheduled Amounts $1,553,098.04
Are 60 day or > Delinquencies > 2.25% of Ending Pool Balance? NO
Are any of the three conditions "YES"? NO
Preliminary A-1 Note Principal Balance (End of Period) $0.00
Preliminary A-2 Note Principal Balance (End of Period) $0.00
Preliminary A-3 Note Principal Balance (End of Period) $213,723,727.12
Preliminary B Note Principal Balance (End of Period) $16,240,404.80
Preliminary Certificate Principal Balance (End of Period) $29,061,396.14
Preliminary Total Principal Balance of Notes and Certificates (End of Period) $259,025,528.05
Specified Spread Account Balance $17,517,793.16
Greater of:
(a) 3.75% of Pool Balance at end of Collection Period; and $10,295,721.54
<PAGE>
(b)(i) 2.50% of Initial Pool Balance (Until Outstanding Note and
Certificate Balance = Spread Account), or $21,897,241.45
(b)(ii) 2.25% of Initial Pool Balance (when principal amount of Notes
and Certificates Less Than or Equal to 97.50% of Pool Balance), or $19,707,517.31
(b)(iii) 2.00% of Initial Pool Balance (when principal amount of Notes
and Certificates Less Than or Equal To 96.25% of Pool Balance) $17,517,793.16
Preliminary Spread Account Balance Remaining $17,862,422.45
Preliminary Excess Amount in Spread Account $344,629.29
Release from Spread Account to Seller as "Excess Servicing Fee" $0.00
Release from Spread Account to A-1 Noteholders as Principal $0.00
Release from Spread Account to A-2 Noteholders as Principal $0.00
Release from Spread Account to A-3 Noteholders as Principal $320,291.06
Release from Spread Account to B Noteholders as Principal $24,338.23
Ending Spread Account Balance (after distributions) $17,517,793.16
Net Change in Spread Account Balance $0.00
7. Ending Balances
Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-1 Notes $0.00
Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-2 Notes $0.00
Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-3 Notes $0.00
Noteholders' Interest Carryover Shortfall (Current Period) applicable to B Notes $0.00
A-1 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
A-2 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
A-3 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
B Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Certificateholders' Interest Carryover Shortfall (Ending Balance) $0.00
Certificateholders' Principal Carryover Shortfall (Ending Balance) $0.00
A-1 Note Principal Balance (End of Period) $0.00
A-2 Note Principal Balance (End of Period) $0.00
A-3 Note Principal Balance (End of Period) $213,403,436.06
B Note Principal Balance (End of Period) $16,216,066.57
Certificate Principal Balance (End of Period) $29,061,396.14
Total Principal Balance of Notes and Certificates (End of Period) $258,680,898.76
A-1 Note Pool Factor (End of Period) 0.0000000
A-2 Note Pool Factor (End of Period) 0.0000000
A-3 Note Pool Factor (End of Period) 0.6486427
B Note Pool Factor (End of Period) 0.6486427
Certificate Pool Factor (End of Period) 0.8547469
Total Notes & Certificates Pool Factor (End of Period) 0.2956353
Specified Spread Account Balance (after all distributions and adjustments) $17,517,793.16
<PAGE>
CASE EQUIPMENT LOAN TRUST 1996-B
STATEMENT TO NOTEHOLDERS
$125,000,000 Class A-1 5.5625% Asset Backed Notes due September 15, 1997
$362,000,000 Class A-2 6.25% Asset Backed Notes due September 15, 2003
$329,000,000 Class A-3 6.65% Asset Backed Notes due September 15, 2003
$25,000,000 Class B Asset Backed Notes due September 15, 2003
$34,000,000 6.95% Asset Backed Certificates due September 15, 2003
Payment Date: 16-Nov-98
(1) Amount of principal being paid on the Notes:
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(b) A-2 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(c) A-3 Notes: $17,221,352.38
per $1,000 original principal amount: $52.34453611
(d) B Notes: $1,308,613.40
per $1,000 original principal amount: $52.34453611
(e) Total $18,529,965.78
(2) Interest on the Notes
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(b) A-2 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(c) A-3 Notes: $1,278,045.70
per $1,000 original principal amount: $3.88463739
(d) B Notes: $102,373.34
per $1,000 original principal amount: $4.09493355
(e) Total $1,380,419.04
(3) Pool Balance at the end of the related Collection Period $274,552,574.44
(4) After giving effect to distributions on current Payment Date:
(a) (i) outstanding principal amount of A-1 Notes: $0.00
(ii) A-1 Note Pool Factor: 0.0000000
(b) (i) outstanding principal amount of A-2 Notes: $0.00
(ii) A-2 Note Pool Factor: 0.0000000
(c) (i) outstanding principal amount of A-3 Notes: $213,403,436.06
(ii) A-3 Note Pool Factor: $0.6486427
(d) (i) outstanding principal amount of A-3 Notes: $16,216,066.57
(ii) A-3 Note Pool Factor: $0.6486427
<PAGE>
(e) (i) Certificate Balance $29,061,396.14
(ii) Certificate Pool Factor: 0.8547469
(5) Amount of Servicing Fee: $244,579.69
per $1,000 Beginning of Collection Period: 0.27923573
(6) Amount of Administration Fee: $166.67
per $1,000 Beginning of Collection Period: 0.00019028
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $82,387.46
(9) Amount in Spread Account: $17,517,793.16
(10) Amount in Pre-Funding Account: $0.00
(11) For the Final payment date with respect to the Funding Period, the NA
Remaining Pre-Funded Amount
(12) Amount in Negative Carry Account: $0.00
<PAGE>
CASE EQUIPMENT LOAN TRUST 1996-B
STATEMENT TO CERTIFICATEHOLDERS
$125,000,000 Class A-1 5.5625% Asset Backed Notes due September 15, 1997
$362,000,000 Class A-2 6.25% Asset Backed Notes due September 15, 2003
$329,000,000 Class A-3 6.65% Asset Backed Notes due September 15, 2003
$25,000,000 Class B Asset Backed Notes due September 15, 2003
$34,000,000 6.95% Asset Backed Certificates due September 15, 2003
Payment Date: 16-Nov-98
(1) Amount of principal being paid or distributed:
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(b) A-2 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(c) A-3 Notes: 17,221,352.38
per $1,000 original principal amount: 52.34453611
(d) B Notes: 1,308,613.40
per $1,000 original principal amount: 52.34453611
(e) Certificates: $757,722.35
per $1,000 original principal amount: $22.28595159
(f) Total: $19,287,688.14
(2) Amount of interest being paid or distributed:
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(b) A-2 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(c) A-3 Notes: $1,278,045.70
per $1,000 original principal amount: $3.88463739
(d) B Notes: $102,373.34
per $1,000 original principal amount: $4.09493355
(e) Certificates: $172,702.39
per $1,000 original principal amount: $5.07948219
(f) Total: $1,553,121.44
(3) Pool Balance at end of related Collection Period: $274,552,574.44
(4) After giving effect to distributions on this Payment Date:
(a) (i) outstanding principal amount of A-1 Notes: $0.00
(ii) A-1 Note Pool Factor: 0.0000000
(b) (i) outstanding principal amount of A-2 Notes: $0.00
(ii) A-2 Note Pool Factor: 0.0000000
<PAGE>
(c) (i) outstanding principal amount of A-3 Notes: $213,403,436.06
(ii) A-3 Note Pool Factor: 0.6486427
(d) (i) outstanding principal amount of B Notes: $16,216,066.57
(ii) B Note Pool Factor: 0.6486427
(e) (i) Certificate Balance $29,061,396.14
(ii) Certificate Pool Factor: 0.8547469
(5) Amount of Servicing Fee: $244,579.69
per $1,000 Beginning of Collection Period: $0.27923573
(6) Amount of Administration Fee: $166.67
per $1,000 Beginning of Collection Period: $0.00019028
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $82,387.46
(9) Amount in Spread Account: $17,517,793.16
(10) Amount in Pre-Funding Account: $0.00
(11) For the Final payment date with respect to the Funding Period, the NA
Remaining Pre-Funded Amount
(12) Amount in Negative Carry Account: $0.00
<PAGE>
CASE EQUIPMENT LOAN TRUST 1996-B
PAYMENT AND DEPOSIT INSTRUCTIONS TO INDENTURE TRUSTEE
$125,000,000 Class A-1 5.5625% Asset Backed Notes due September 15, 1997
$362,000,000 Class A-2 6.25% Asset Backed Notes due September 15, 2003
$329,000,000 Class A-3 6.65% Asset Backed Notes due September 15, 2003
$25,000,000 Class B Asset Backed Notes due September 15, 2003
$34,000,000 6.95% Asset Backed Certificates due September 15, 2003
Payment Date: 16-Nov-98
(1) Payment of Administration Fee to Administrator: $166.67
(2) Offered Noteholders' Interest Distributable Amount & Class B Noteholders'
Interest Distributable Amount deposited into Note Distribution Account: $1,380,419.04
(3) Noteholders' Principal Distributable Amount to be
deposited into Noteholders' Distribution Account: $18,529,965.78
(4) Certificateholders' Interest Distributable Amount to be
deposited into Certificateholders' Distribution Account: $172,702.39
(5) Certificateholders' Principal Distributable Amount to be
deposited into Certificateholders' Distribution Account: $757,722.35
(6) Payment of Servicing Fee to Servicer: $244,579.69
(7) Deposit to Spread Account from Excess Collections over Distributions: $344,629.29
Check for Error NO ERROR
Sum of Above Distributions $21,430,185.22
Total Distribution Amount plus Turbo $21,430,185.22
<PAGE>
CASE EQUIPMENT LOAN TRUST 1996-B
SERVICER'S CERTIFICATE
$125,000,000 Class A-1 5.5625% Asset Backed Notes due September 15, 1997
$362,000,000 Class A-2 6.25% Asset Backed Notes due September 15, 2003
$329,000,000 Class A-3 6.65% Asset Backed Notes due September 15, 2003
$25,000,000 Class B Asset Backed Notes due September 15, 2003
$34,000,000 6.95% Asset Backed Certificates due September 15, 2003
Payment Date: 16-Nov-98
(1) Total Distribution Amount: $21,085,555.93
(2) Administration Fee: $166.67
(3) Noteholders' Interest Distributable Amount applicable to A-1 Notes: $0.00
(4) Noteholders' Interest Carryover Shortfall applicable to A-1 Notes: $0.00
(5) Noteholders' Interest Distributable Amount applicable to A-2 Notes: $0.00
(6) Noteholders' Interest Carryover Shortfall applicable to A-2 Notes: $0.00
(7) Noteholders' Interest Distributable Amount applicable to A-3 Notes: $1,278,045.70
(8) Noteholders' Interest Carryover Shortfall applicable to A-3 Notes: $0.00
(9) Noteholders' Interest Distributable Amount applicable to B Notes: $102,373.34
(10) Noteholders' Interest Carryover Shortfall applicable to B Notes: $0.00
(11) Offered Noteholders' Interest Distributable Amount & Class B Noteholders' $1,380,419.04
Interest Distributable Amount deposited into Note Distribution Account:
(12) A-1 Noteholders' Monthly Principal Distributable Amount: $0.00
(13) % of Principal Distribution Amount applicable to A-1 Noteholders 0.00%
(14) A-1 Noteholders' Principal Carryover Shortfall: $0.00
(15) A-1 Noteholders' Principal Distributable Amount: $0.00
(16) A-2 Noteholders' Monthly Principal Distributable Amount: $0.00
(17) % of Principal Distribution Amount applicable to A-2 Noteholders 0.00%
(18) A-2 Noteholders' Principal Carryover Shortfall: $0.00
(19) A-2 Noteholders' Principal Distributable Amount: $0.00
(20) A-3 Noteholders' Monthly Principal Distributable Amount: $16,901,061.32
(21) % of Principal Distribution Amount applicable to A-3 Noteholders 89.22%
(22) A-3 Noteholders' Principal Carryover Shortfall: $0.00
(23) A-3 Noteholders' Principal Distributable Amount: $17,221,352.38
<PAGE>
(24) B Noteholders' Monthly Principal Distributable Amount: $1,284,275.18
(25) % of Principal Distribution Amount applicable to B Noteholders 6.78%
(26) B Noteholders' Principal Carryover Shortfall: $0.00
(27) B Noteholders' Principal Distributable Amount: $1,308,613.40
(28) Noteholders' Principal Distribution Amount: $18,529,965.78
(29) Noteholders' Distributable Amount: $19,910,384.82
(30) Certificateholders' Interest Distributable Amount: $172,702.39
(31) Certificateholders' Interest Carryover Shortfall: $0.00
(32) Certificateholders' Percentage: 4.00%
(33) Certificateholders' Principal Distributable Amount applicable to current period $757,722.35
(34) Certificateholders' Principal Carryover Shortfall: $0.00
(35) Certificateholders' Principal Distributable Amount: $757,722.35
(36) Certificateholders' Distributable Amount: $930,424.75
(37) Servicing Fee: $244,579.69
(38) Deposit to Spread Account (from excess collections): $344,629.29
<PAGE>
(39) Specified Spread Account Balance (after all distributions and adjustments) : $17,517,793.16
The greater of:
(a) 3.75% of the Pool Balance at the beginning of the Collection Period
in which the Payment Date occurs; and $10,295,721.54
(b)(i) 2.50% of Initial Pool Balance (Until Outstanding Note and Certificate
Balance = Spread Account), or $21,897,241.45
(b)(ii) 2.25% of the Initial Pool Balance when principal amount of Notes
and Certificates Less Than or Equal To 97.50% of Pool Balance $19,707,517.31
(b)(iii) 2.00% of the Initial Pool Balance when principal amount of Notes
and Certificates Less Than or Equal To 96.25% of Pool Balance $17,517,793.16
(40) Spread Account Trigger Tests:
(a) (i) Aggregate Realized Losses from the Initial Cutoff Date through
the end of the related Collection Period: $2,221,700.44
(ii) 2.25% of the Initial Pool Balance: $19,707,517.31
(b) (i) 12 times the sum of (x) the aggregate Realized Losses during the
related Collection Period and (y) the aggregate Contract Value
of all Receivables as to which the related Finance Equipment
has been repossessed but in which the receivable has not been liquidated: $988,649.52
(ii) 1.65% of the Pool Balance at the beginning of the Collection Period: $4,794,265.46
(c) (i) Aggregate Scheduled Payments delinquent by more than 60 days
as of the end of the related Collection Period: $1,553,098.04
(ii) 2.25% of the Pool Balance at the beginning of the Collection Period
in which the Payment Date occurs: $6,114,550.42
(41) Spread Account Balance over the Specified Spread Account Balance: $344,629.29
(42) Excess Amounts Distributed To Seller:
(a) Release of Excess Amount in Spread Account $0.00
(b) Release of Excess Amount in Negative Carry Account 0.00
(43) Amount to be withdrawn from the Spread Account and deposited
into the Note Distribution Account $0.00
(44) Amount to be withdrawn from the Spread Account and deposited
into the Certificate Distribution Account: $0.00
(45) Pool Balance as of the opening of business on the first day of
the Collection Period in which the Payment Date occurs: $274,552,574.44
(46) After giving effect to all distributions on such Payment Date:
Outstanding Principal Balance of A-1 Notes: $0.00
A-1 Note Pool Factor: 0.0000000
Outstanding Principal Balance of A-2 Notes: $0.00
A-2 Note Pool Factor: 0.0000000
Outstanding Principal Balance of A-3 Notes: $213,403,436.06
A-3 Note Pool Factor: 0.6486427
<PAGE>
Outstanding Principal Balance of B Notes: $16,216,066.57
B Note Pool Factor: 0.6486427
Outstanding Principal Balance of the Certificates: $29,061,396.14
Certificate Pool Factor: 0.8547469
(47) Aggregate Purchase Amounts for related Collection Period: $0.00
(48) Aggregate Amount of Realized Losses for the related Collection Period: $82,387.46
(49) Spread Account Balance after giving effect to all distributions: $17,517,793.16
(50) Originally Scheduled Pool Balance as of the opening of business on the
first day of the Collection Period in which the Payment Date occurs: $4,867,871.38
(51) Number of Collection Periods since Completion of Funding Period 26
(53) Life-to-Date (From Jan-97 Collection Period) CPR 23.69%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CASE EQUIPMENT LOAN TRUST 1997-A
$71,500,000 Class A-1 5.597% Asset Backed Notes due March 15, 1998
$282,000,000 Class A-2 6.000% Asset Backed Notes due March 15, 2004 NPV Data Input Section
$259,125,000 Class A-3 6.450% Asset Backed Notes due March 15, 2004 Scheduled cash flows as of the
$26,000,000 Class B 6.700% Asset Backed Notes due March 15, 2004 end of the collection period
$11,375,000 6.700% Asset Backed Certificates due March 15, 2004 Line 0 is scheduled amount delinquent
07:11 AM
Prepared by Lisa Sorenson,
Phone 414-636-6184 File: us97a.xls
<S><C>
---------------------------------------------------------------------------------------
28-Feb-97 05-Nov-98 05-Nov-98 05-Nov-98 05-Nov-98
---------------------------------------------------------------------------------------
Pool 1 Cutoff Pool 1 Pool 2 Pool 3 Pool 4
0 - 2,519,136.95 669,916.42 1,225,529.53 709,685.65
1 6,224,948.06 7,850,834.76 1,229,645.58 1,730,291.49 1,572,354.74
2 4,087,399.27 13,005,708.12 1,513,382.81 2,110,137.69 1,696,528.89
3 4,191,051.44 10,191,631.16 1,357,748.85 1,794,111.12 1,280,152.53
4 4,860,539.72 5,176,261.07 5,429,364.78 1,799,761.05 1,147,138.47
5 4,890,016.88 2,591,819.57 3,871,168.27 8,506,308.17 1,903,941.56
6 8,243,609.27 2,367,910.05 700,756.78 3,435,370.73 5,983,050.33
7 4,447,750.58 2,437,425.94 720,442.61 1,072,584.28 2,114,519.80
8 6,498,644.13 2,676,357.53 740,165.92 1,197,589.48 1,101,306.79
9 14,972,196.07 2,786,884.32 792,178.19 1,465,322.10 984,725.53
10 23,007,915.80 3,249,416.68 911,031.97 1,386,299.40 1,070,999.01
11 15,613,409.45 2,617,180.98 886,702.61 1,392,996.03 1,001,327.28
12 7,785,366.54 3,569,164.32 772,267.03 1,269,187.26 1,284,536.36
13 3,880,079.26 7,238,207.67 1,108,109.00 1,505,210.86 1,390,859.22
14 3,600,829.31 12,401,755.52 1,351,798.72 1,835,956.56 1,597,280.53
15 3,835,204.18 9,477,488.52 1,295,912.75 1,675,278.65 1,175,349.07
16 4,406,106.30 4,542,708.54 5,229,450.44 1,710,997.97 1,052,246.21
17 4,331,724.09 2,013,526.42 3,674,937.57 8,241,710.85 1,812,831.33
18 7,068,300.66 1,772,131.88 498,461.62 3,027,590.79 5,759,449.22
19 3,940,812.53 1,841,455.76 531,122.95 746,311.34 1,812,814.35
20 6,159,747.89 1,965,414.07 533,156.93 818,595.87 798,553.98
21 14,561,634.89 2,084,992.10 585,641.83 1,001,610.45 715,931.97
22 22,594,768.79 2,567,209.25 658,953.02 1,030,430.18 785,804.96
23 15,235,344.04 1,885,449.73 626,080.03 936,478.78 729,541.88
24 7,445,650.52 2,731,221.41 510,759.04 910,178.26 905,184.71
25 3,579,468.36 6,069,987.60 775,394.19 999,665.99 1,022,969.51
26 3,299,938.35 10,353,749.01 1,001,252.58 1,260,980.18 1,126,631.16
27 3,563,571.09 6,743,604.63 978,889.94 1,200,732.20 878,123.05
28 3,983,635.33 2,601,637.36 3,427,609.24 1,120,089.29 748,617.07
29 4,043,413.87 731,266.08 2,219,727.05 4,891,914.89 1,262,389.71
30 6,668,398.88 492,727.02 121,740.83 1,675,022.74 3,186,820.72
31 3,721,394.41 566,296.12 136,051.42 227,216.70 965,879.01
32 5,930,985.23 628,319.46 122,997.84 234,914.65 223,523.36
33 14,048,509.71 704,458.69 160,309.03 290,359.15 187,682.72
34 21,617,434.15 1,030,236.91 221,938.28 437,723.88 242,494.73
35 14,319,031.03 573,447.22 146,723.85 322,477.22 201,147.58
36 6,622,218.98 1,070,385.24 129,227.82 272,258.16 247,589.65
37 2,794,527.41 2,928,540.43 243,886.08 288,606.14 381,858.92
38 2,537,050.75 6,114,616.34 481,225.67 580,001.51 356,372.82
39 2,704,903.39 3,583,925.62 435,491.41 575,691.39 306,319.01
40 3,060,906.46 1,142,539.28 1,643,554.96 449,298.02 198,032.91
41 3,177,927.21 74,551.43 1,020,497.90 2,469,178.11 514,856.02
42 5,473,838.49 7,196.42 267.12 778,258.79 1,641,690.60
43 2,780,181.99 36,113.18 2,303.49 36,775.45 379,852.27
44 4,848,252.59 3,213.89 23,745.42 34,332.55 54,206.65
45 12,421,394.48 81,684.76 0.00 41,579.86 5,255.21
46 19,846,926.73 8,933.99 55,264.82 51,626.76 17,006.17
47 10,668,299.66 63,474.27 12,905.25 22,299.64 5,255.21
48 4,018,932.10 313,887.50 0.00 55,730.44 76,106.75
49 999,620.21 295,136.28 0.00 18,636.70 23,663.05
50 715,596.94 307,437.94 15,465.97 54,034.69 7,808.38
51 729,463.38 27,075.01 41,797.19 47,420.37 102,488.79
52 978,501.21 0.00 74,792.25 53,891.58 2,211.33
53 1,067,113.54 0.00 0.00 62,076.00 77,306.84
54 2,553,275.87 0.00 0.00 0.00 77,266.73
55 800,506.74 0.00 0.00 0.00 0.00
56 2,078,844.49 0.00 0.00 0.00 0.00
57 7,648,805.10 0.00 0.00 0.00 0.00
58 12,223,538.12 0.00 0.00 0.00 0.00
59 6,284,273.88 0.00 0.00 0.00 0.00
60 1,911,175.78 0.00 0.00 0.00 0.00
61 92,369.69 0.00 0.00 0.00 0.00
62 41,527.82 0.00 0.00 0.00 0.00
63 38,987.30 0.00 0.00 0.00 0.00
64 13,226.62 0.00 0.00 0.00 0.00
65 99,942.27 0.00 0.00 0.00 0.00
66 66,826.08 0.00 0.00 0.00 0.00
67 60,733.30 0.00 0.00 0.00 0.00
68 655,358.90 0.00 0.00 0.00 0.00
69 584,135.41 0.00 0.00 0.00 0.00
70 430,830.03 0.00 0.00 0.00 0.00
71 139,155.22 0.00 0.00 0.00 0.00
72 0.00 0.00 0.00 0.00 0.00
73 0.00 0.00 0.00 0.00 0.00
Total Time Balance of
Scheduled Cash Flows 158,115,734.00 49,692,215.32 70,378,631.94 54,907,540.30
<PAGE>
CASE EQUIPMENT LOAN TRUST 1997-A
$71,500,000 Class A-1 5.597% Asset Backed Notes due March 15, 1998
$282,000,000 Class A-2 6.000% Asset Backed Notes due March 15, 2004
$259,125,000 Class A-3 6.450% Asset Backed Notes due March 15, 2004
$26,000,000 Class B 6.700% Asset Backed Notes due March 15, 2004
$11,375,000 6.700% Asset Backed Certificates due March 15, 2004
Prepared by Lisa Sorenson, Phone 414-636-6184 11/19/98
07:11 AM
Payment Date 16-Nov-98
Collection Period Begin Date 06-Oct-98
Collection Period End Date 28-Feb-97 05-Nov-98
Days in accrual period (30/360) 30
PART I -- MONTHLY DATA INPUT
Total Receipts During the Period $12,080,766.53
Warranty Repurchases
Contracts deferred beyond Final Scheduled Maturity Date $0.00
Government obligors $0.00
Total Warranty Repurchases $0.00
Total Collections For The Period $12,080,766.53
Miscellaneous Data
Scheduled Amounts 30 - 59 days past due $1,588,519.98
Scheduled Amounts 60 days or more past due $1,154,489.63
Net Losses on Liquidated Receivables $214,123.51
Number of Loans at Beginning of Period 15,118
Number of Loans at End of Period 14,871
Repossessed Equipment not Sold or Reassigned (Beginning) $0.00
Repossessed Equipment not Sold or Reassigned (End) $0.00
Reinvestment Income (including Pre-Funding Account and Spread Account) $93,659.91
Pre-Funding Account Reinvestment Income $0.00
<PAGE>
CASE EQUIPMENT LOAN TRUST 1997-A
$71,500,000 Class A-1 5.597% Asset Backed Notes due March 15, 1998
$282,000,000 Class A-2 6.000% Asset Backed Notes due March 15, 2004
$259,125,000 Class A-3 6.450% Asset Backed Notes due March 15, 2004
$26,000,000 Class B 6.700% Asset Backed Notes due March 15, 2004
$11,375,000 6.700% Asset Backed Certificates due March 15, 2004
Payment Date 16-Nov-98
Collection Period Begin Date 06-Oct-98
Collection Period End Date 05-Nov-98
PART II -- SUMMARY
Total Principal Balance of Notes and Certificates (Beginning of Period) $307,089,421.64
A-1 Note Beginning Principal Balance $0.00
A-2 Note Beginning Principal Balance $10,589,421.64
A-3 Note Beginning Principal Balance $259,125,000.00
B Note Beginning Principal Balance $26,000,000.00
Certificate Beginning Principal Balance $11,375,000.00
Total Principal Balance of Notes and Certificates (End of Period) $297,042,142.83
A-1 Note Principal Balance (End of Period) $0.00
A-1 Note Pool Factor (End of Period) 0.0000000
A-2 Note Principal Balance (End of Period) $542,142.83
A-2 Note Pool Factor (End of Period) 0.0019225
A-3 Note Principal Balance (End of Period) $295,125,000.00
A-3 Note Pool Factor (End of Period) 1.0000000
B Note Principal Balance (End of Period) $26,000,000.00
B Note Pool Factor (End of Period) 1.0000000
Certificate Principal Balance (End of Period) $11,375,000.00
Certificate Pool Factor (End of Period) 1.0000000
Contract Value Decline $10,047,278.81
Pool Balance (Beg. of Collection Period) $307,094,640.73
Pool Balance (End of Collection Period) $297,047,361.92
Total Distribution Amount (TDA) $12,174,426.44
Total Collections and Investment Income for the Period $12,174,426.44
Negative Carry Amount $0.00
Administration Fee Accrued during this Period ($500 per Quarter) $166.67
Principal Distribution Amount (PDA) $10,047,278.81
Principal Allocation to Notes and Certificates
A-1 Noteholders' Principal Distributable Amount $0.00
A-2 Noteholders' Principal Distributable Amount $10,047,278.81
A-3 Noteholders' Principal Distributable Amount $0.00
B Noteholders' Principal Distributable Amount $0.00
Certificateholders' Principal Distributable Amount $0.00
Interest Distributable Amount $1,654,421.08
Noteholders' Interest Distributable Amount applicable to A-1 Notes $0.00
Noteholders' Interest Distributable Amount applicable to A-2 Notes $52,947.11
Noteholders' Interest Distributable Amount applicable to A-3 Notes $1,392,796.88
Noteholders' Interest Distributable Amount applicable to B Notes $145,166.67
Certificateholders' Interest Distributable Amount $63,510.42
Servicing Fees Accrued during this Period $255,912.20
Total Distribution Amount Remaining to Deposit to Spread Account $216,647.68
Spread Account
Beginning Spread Account Balance $13,000,000.00
Deposit to Spread Account from Pre-Funding Account $0.00
Deposit to Spread Account from Excess Collections over Distributions $216,647.68
Distribution from Spread Account for Interest / Principal Shortfall $0.00
0.00 $0.00
Specified Spread Account Balance $13,000,000.00
Release from Spread Account to Seller as "Excess Servicing Fee" $216,647.68
Ending Spread Account Balance (after distributions) $13,000,000.00
Credit Enhancement 4.38%
Spread account % of Ending Pool Balance 4.38%
Overcollateralization % of Ending Pool Balance 0.00%
Scheduled Amounts 30 - 59 days past due $1,588,519.98
as % of Ending Pool Balance 0.53%
Scheduled Amounts 60 days or more past due $1,154,489.63
as % of Ending Pool Balance 0.39%
Net Losses on Liquidated Receivables $214,123.51
as % of Ending Pool Balance 0.07%
<PAGE>
PART III -- SERVICING CALCULATIONS 16-Nov-98
1. Sources and Uses of Collection Account Balance Pool 1 Cutoff Pool 1 Pool 2 Pool 3 Pool 4
Wtd. Avg. APR 8.823% 8.823% 8.701% 8.302% 8.479%
Contract Value (Beg. of Collection Period), by
origination pool $146,497,855.43 $45,375,883.27 $64,649,134.15 $50,571,767.88
Contract Value (End of Collection Period), by
origination pool $335,052,501.00 $140,923,327.35 $44,310,518.24 $62,950,296.06 $48,863,220.27
--------------- -------------- -------------- --------------
Contract Value Decline $5,574,528.08 $1,065,365.03 $1,698,838.09 $1,708,547.61
3.81% 2.35% 2.63% 3.38%
Initial Pool Balance $307,094,640.73
Pool Balance (End of Collection Period) $297,047,361.92
Total Collections and Investment Income for the
period $12,174,426.44
Negative Carry Amount $0.00
Total Distribution Amount (TDA) $12,174,426.44
Principal Distribution Amount (PDA) $10,047,278.81 83%
Interest Distribution Amount (IDA) $2,127,147.63 17%
2. Calculation of Distributable Amounts
A-1 Note Beginning Principal Balance $0.00
A-1 Noteholders' Principal Carryover Shortfall
(Previous Period) $0.00
A-1 Noteholders' Share of the Principal
Distribution Amount 0.00%
A-1 Noteholders' Principal Distributable Amount $0.00
Principal Distribution Amount Remaining $10,047,278.81
A-2 Note Beginning Principal Balance $10,589,421.64
A-2 Noteholders' Principal Carryover Shortfall
(Previous Period) $0.00
A-2 Noteholders' Share of the Principal
Distribution Amount 100.00%
A-2 Noteholders' Principal Distributable Amount $10,047,278.81
Principal Distribution Amount Remaining $0.00
A-3 Note Beginning Principal Balance $259,125,000.00
A-3 Noteholders' Principal Carryover Shortfall
(Previous Period) $0.00
A-3 Noteholders' Share of the Principal
Distribution Amount 0.00%
A-3 Noteholders' Principal Distributable Amount $0.00
Principal Distribution Amount Remaining $0.00
B Note Beginning Principal Balance $26,000,000.00
B Noteholders' Principal Carryover Shortfall
(Previous Period) $0.00
B Noteholders' Share of the Principal
Distribution Amount 0.00%
B Noteholders' Principal Distributable Amount $0.00
Principal Distribution Amount Remaining $0.00
Certificate Beginning Principal Balance $11,375,000.00
Certificateholders' Principal Carryover Shortfall
(Previous Period) $0.00
Certificateholders' Share of the Principal
Distribution Amount 0.00%
Certificateholders' Principal Distributable Amount $0.00
Interest Accrued on Class A-1 Notes this period 5.597% $0.00
Noteholders' Interest Carryover Shortfall
(Previous Period) applicable to A-1 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount
applicable to A-1 Notes $0.00
Interest Accrued on Class A-2 Notes this period 6.000% $52,947.11
Noteholders' Interest Carryover Shortfall
(Previous Period) applicable to A-2 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount
applicable to A-2 Notes $52,947.11
Interest Accrued on Class A-3 Notes this period 6.450% $1,392,796.88
Noteholders' Interest Carryover Shortfall
(Previous Period) applicable to A-3 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount
applicable to A-3 Notes $1,392,796.88
Interest Accrued on Class A-1, A-2 and A-3
Notes this period $1,445,743.99
Offered Noteholders' Interest Carryover Shortfall
(Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Offered Noteholders' Interest Distributable Amount $1,445,743.99
Interest Accrued on Class B Notes this period 6.700% $145,166.67
Noteholders' Interest Carryover Shortfall
(Previous Period) applicable to B Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount
applicable to B Notes $145,166.67
Interest Accrued on Certificates this period 6.700% $63,510.42
Certificateholders' Interest Carryover Shortfall
(Previous Period) $0.00
Interest Due (in Arrears) on Above Shortfall $0.00
Certificateholders' Interest Distributable Amount $63,510.42
3. Allocation of Total Distribution Amount
Total Distribution Amount $12,174,426.44
Administration Fee Shortfall (Previous Period) $0.00
Administration Fee Accrued during this Period
($500 per Quarter) $500.00 $166.67
Administration Fee Paid this Period from TDA $166.67
Administration Fee Shortfall $0.00
Total Distribution Amount Remaining $12,174,259.77
Noteholders' Interest Carryover Shortfall
(Previous Period) applicable to A-1 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class A-1 Notes this period $0.00
Noteholders' Interest applicable to A-1 Notes
Paid this Period from TDA $0.00
Preliminary Noteholders' Interest Carryover
Shortfall (Current Period) applicable to A-1 Notes $0.00
Noteholders' Interest Carryover Shortfall
(Previous Period) applicable to A-2 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class A-2 Notes this period $52,947.11
Noteholders' Interest applicable to A-2 Notes
Paid this Period from TDA $52,947.11
Preliminary Noteholders' Interest Carryover Shortfall
(Current Period) applicable to A-2 Notes $0.00
Noteholders' Interest Carryover Shortfall
(Previous Period) applicable to A-3 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class A-3 Notes this period $1,392,796.88
Noteholders' Interest applicable to A-3 Notes
Paid this Period from TDA $1,392,796.88
Preliminary Noteholders' Interest Carryover Shortfall
(Current Period) applicable to A-3 Notes $0.00
<PAGE>
Offered Noteholders' Interest Carryover Shortfall
(Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class A-1, A-2 and A-3 Notes
this period $1,445,743.99
Offered Noteholders' Interest Paid this Period
from TDA $1,445,743.99
Preliminary Noteholders' Interest Carryover
Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $10,728,515.78
Noteholders' Interest Carryover Shortfall (Previous
Period) applicable to B Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class B Notes this period $145,166.67
Noteholders' Interest applicable to B Notes Paid
this Period from TDA $145,166.67
Preliminary Noteholders' Interest Carryover Shortfall
(Current Period) applicable to B Notes $0.00
Total Distribution Amount Remaining $10,583,349.11
A-1 Noteholders' Principal Carryover Shortfall
(Previous Period) $0.00
A-1 Noteholders' Monthly Principal Distributable Amount $0.00
A-1 Noteholders' Principal Distributable Amount Paid
from TDA $0.00
Preliminary A-1 Noteholders' Principal Carryover
Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $10,583,349.11
A-2 Noteholders' Principal Carryover Shortfall
(Previous Period) $0.00
A-2 Noteholders' Monthly Principal Distributable Amount $10,047,278.81
A-2 Noteholders' Principal Distributable Amount Paid
from TDA $10,047,278.81
Preliminary A-2 Noteholders' Principal Carryover
Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $536,070.30
A-3 Noteholders' Principal Carryover Shortfall
(Previous Period) $0.00
A-3 Noteholders' Monthly Principal Distributable Amount $0.00
A-3 Noteholders' Principal Distributable Amount Paid
from TDA $0.00
Preliminary A-3 Noteholders' Principal Carryover Shortfall
(Current Period) $0.00
Total Distribution Amount Remaining $536,070.30
B Noteholders' Principal Distributable Amount $0.00
B Noteholders' Monthly Principal Distributable Amount $0.00
B Noteholders' Principal Distributable Amount Paid
from TDA $0.00
Preliminary B Noteholders' Principal Carryover Shortfall
(Current Period) $0.00
Total Distribution Amount Remaining $536,070.30
Certificateholders' Interest Carryover Shortfall
(Previous Period) $0.00
Interest Due (in Arrears) on Above Shortfall $0.00
Interest Accrued on Certificates this period $63,510.42
Certificateholders' Interest Paid this Period from TDA $63,510.42
Preliminary Certificateholders' Interest Carryover
Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $472,559.88
Certificateholders' Principal Carryover Shortfall
(Previous Period) $0.00
Certificateholders' Principal Distributable Amount
applicable to current period $0.00
Certificateholders' Principal Distributable Amount
Paid from TDA $0.00
Preliminary Certificateholders' Principal Carryover
Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $472,559.88
Servicing Fee Shortfall (Previous Period) $0.00
Servicing Fees Accrued during this Period 1.00% $255,912.20
Total Servicing Fees Due $255,912.20
Servicing Fees Paid this Period from TDA $255,912.20
Servicing Fee Shortfall $0.00
Total Distribution Amount Available to Deposit
to Spread Acct $216,647.68
4. Reconciliation of Pre-Funding Account
Beginning Pre-Funding Account Balance $0.00
New Collateral Purchased $0.00
Deposit to Spread Account 2.00% $0.00
Payment to Seller $0.00
Ending Pre-Funding Account Balance $0.00
Excess Pre-Funded Amount/(Payment to Seller) $0.00
Adjusted Ending Pre-Funding Account Balance $0.00
5. Reconciliation of Negative Carry Account
Beginning Negative Carry Account Balance 177 days $0.00
Pre-Funded Percentage 0.000%
Negative Carry Withdrawls $0.00
Cumulative Negative Carry Withdrawls $0.00
Maximum Negative Carry Amount 150 days $0.00
Required Negative Carry Account Balance $0.00
Interim Ending Negative Carry Account Balance $0.00
Negative Carry Amount Released to Seller $0.00
Ending Negative Carry Account Balance $0.00
6. Distributions from Spread Account
Beginning Spread Account Balance $13,000,000.00
Deposit to Spread Account from Pre-Funding Account $0.00
Deposit to Spread Account from Excess Collections
over Distributions $216,647.68
Distribution from Spread Account to Noteholders'
Distr. Account $0.00
Adj to Preliminary Noteholders' Interest Carryover
Shortfall (Current Period) applicable to A-1 Notes $0.00
Adj to Preliminary Noteholders' Interest Carryover
Shortfall (Current Period) applicable to A-2 Notes $0.00
Adj to Preliminary Noteholders' Interest Carryover
Shortfall (Current Period) applicable to A-3 Notes $0.00
Adj to Preliminary Noteholders' Interest Carryover
Shortfall (Current Period) applicable to B Notes $0.00
<PAGE>
Adj to Preliminary A-1 Noteholders' Principal
Carryover Shortfall (Current Period) $0.00
Adj to Preliminary A-2 Noteholders' Principal
Carryover Shortfall (Current Period) $0.00
Adj to Preliminary A-3 Noteholders' Principal
Carryover Shortfall (Current Period) $0.00
Adj to Preliminary B Noteholders' Principal
Carryover Shortfall (Current Period) $0.00
Preliminary Spread Account Balance Remaining $13,216,647.68
Cumulative Realized Losses since 28-February-97
(Cut-off Date) $1,284,002.72
Are Cum. Realized Losses > 2.25% of Initial Pool Balance? NO
12*(Realized Losses during Collection Period + Repos at end
of Collection Period) $2,569,482.12
Is 12*Realized Losses + Unliq. Repos > 1.65% of Beg. Pool
Balance? NO
60 day or > Delinquent Scheduled Amounts $1,154,489.63
Are 60 day or > Delinquencies > 2.25% of Ending Pool Balance? NO
Are any of the three conditions "YES"? NO
Preliminary A-1 Note Principal Balance (End of Period) $0.00
Preliminary A-2 Note Principal Balance (End of Period) $542,142.83
Preliminary A-3 Note Principal Balance (End of Period) $259,125,000.00
Preliminary B Note Principal Balance (End of Period) $26,000,000.00
Preliminary Certificate Principal Balance (End of Period) $11,375,000.00
Preliminary Total Principal Balance of Notes and
Certificates (End of Period) $297,042,142.83
Specified Spread Account Balance $13,000,000.00
Lesser of:
(a) 2.00% of the Initial Pool Balance 2.00% 13,000,000.00
(b) the Note Balance 297,042,142.83
Preliminary Spread Account Balance Remaining $13,216,647.68
Preliminary Excess Amount in Spread Account $216,647.68
Release from Spread Account to Seller as "Excess
Servicing Fee" $216,647.68
Ending Spread Account Balance (after distributions) $13,000,000.00
Net Change in Spread Account Balance $0.00
7. Ending Balances
Noteholders' Interest Carryover Shortfall (Current
Period) applicable to A-1 Notes $0.00
Noteholders' Interest Carryover Shortfall (Current
Period) applicable to A-2 Notes $0.00
Noteholders' Interest Carryover Shortfall (Current
Period) applicable to A-3 Notes $0.00
Noteholders' Interest Carryover Shortfall (Current
Period) applicable to B Notes $0.00
A-1 Noteholders' Principal Carryover Shortfall
(Current Period) $0.00
A-2 Noteholders' Principal Carryover Shortfall
(Current Period) $0.00
A-3 Noteholders' Principal Carryover Shortfall
(Current Period) $0.00
B Noteholders' Principal Carryover Shortfall
(Current Period) $0.00
Certificateholders' Interest Carryover
Shortfall (Ending Balance) $0.00
Certificateholders' Principal Carryover
Shortfall (Ending Balance) $0.00
A-1 Note Principal Balance (End of Period) $0.00
A-2 Note Principal Balance (End of Period) $542,142.83
A-3 Note Principal Balance (End of Period) $259,125,000.00
B Note Principal Balance (End of Period) $26,000,000.00
Certificate Principal Balance (End of Period) $11,375,000.00
Total Principal Balance of Notes and
Certificates (End of Period) $297,042,142.83
A-1 Note Pool Factor (End of Period) $71,500,000.00 0.0000000
A-2 Note Pool Factor (End of Period) $282,000,000.00 0.0019225
A-3 Note Pool Factor (End of Period) $259,125,000.00 1.0000000
B Note Pool Factor (End of Period) $26,000,000.00 1.0000000
Certificate Pool Factor (End of Period) $11,375,000.00 1.0000000
Total Notes & Certificates Pool Factor
(End of Period) 0.4569879
Specified Spread Account Balance (after all
distributions and adjustments) $13,000,000.00
<PAGE>
CASE EQUIPMENT LOAN TRUST 1997-A
STATEMENT TO NOTEHOLDERS
$71,500,000 Class A-1 5.597% Asset Backed Notes due March 15, 1998
$282,000,000 Class A-2 6.000% Asset Backed Notes due March 15, 2004
$259,125,000 Class A-3 6.450% Asset Backed Notes due March 15, 2004
$26,000,000 Class B 6.700% Asset Backed Notes due March 15, 2004
$11,375,000 6.700% Asset Backed Certificates due March 15, 2004
Payment Date: 16-Nov-98
(1) Amount of principal being paid on the Notes:
(a) A-1 Notes: $0.00
per $1,000 original principal amount: 0.0000000
(b) A-2 Notes: $10,047,278.81
per $1,000 original principal amount: $35.62864826
(c) A-3 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(d) B Notes: $0.00
per $1,000 original principal amount: $0.00000000
(e) Total $10,047,278.81
(2) Interest on the Notes
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(b) A-2 Notes: $52,947.11
per $1,000 original principal amount: $0.18775571
(c) A-3 Notes: $1,392,796.88
per $1,000 original principal amount: $5.37500002
(d) B Notes: $145,166.67
per $1,000 original principal amount: $5.58333346
(e) Total $1,590,910.66
(3) Pool Balance at the end of the related Collection Period $297,047,361.92
(4) After giving effect to distributions on current Payment Date:
(a) (i) outstanding principal amount of A-1 Notes: $0.00
(ii) A-1 Note Pool Factor: 0.0000000
(b) (i) outstanding principal amount of A-2 Notes: $542,142.83
(ii) A-2 Note Pool Factor: 0.0019225
(c) (i) outstanding principal amount of A-3 Notes: $259,125,000.00
(ii) A-3 Note Pool Factor: $1.0000000
(d) (i) outstanding principal amount of A-3 Notes: $26,000,000.00
(ii) A-3 Note Pool Factor: $1.0000000
(e) (i) Certificate Balance $11,375,000.00
(ii) Certificate Pool Factor: 1.0000000
(5) Amount of Servicing Fee: $255,912.20
per $1,000 Beginning of Collection Period: 0.83333333
(6) Amount of Administration Fee: $166.67
per $1,000 Beginning of Collection Period: 0.00054273
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $214,123.51
(9) Amount in Spread Account: $13,000,000.00
(10) Amount in Pre-Funding Account: $0.00
(11) For the Final payment date with respect to the
Funding Period, the Remaining Pre-Funded Amount NA
(12) Amount in Negative Carry Account: $0.00
<PAGE>
CASE EQUIPMENT LOAN TRUST 1997-A
STATEMENT TO CERTIFICATEHOLDERS
$71,500,000 Class A-1 5.597% Asset Backed Notes due March 15, 1998
$282,000,000 Class A-2 6.000% Asset Backed Notes due March 15, 2004
$259,125,000 Class A-3 6.450% Asset Backed Notes due March 15, 2004
$26,000,000 Class B 6.700% Asset Backed Notes due March 15, 2004
$11,375,000 6.700% Asset Backed Certificates due March 15, 2004
Payment Date: 16-Nov-98
(1) Amount of principal being paid or distributed:
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(b) A-2 Notes: $10,047,278.81
per $1,000 original principal amount: $35.62864826
(c) A-3 Notes: 0.00
per $1,000 original principal amount: 0.00000000
(d) B Notes: 0.00
per $1,000 original principal amount: 0.00000000
(e) Certificates: $0.00
per $1,000 original principal amount: $0.00000000
(f) Total: $10,047,278.81
(2) Amount of interest being paid or distributed:
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(b) A-2 Notes: $52,947.11
per $1,000 original principal amount: $0.18775571
(c) A-3 Notes: $1,392,796.88
per $1,000 original principal amount: $5.37500002
(d) B Notes: $145,166.67
per $1,000 original principal amount: $5.58333346
(e) Certificates: $63,510.42
per $1,000 original principal amount: $5.58333363
(f) Total: $1,654,421.08
(3) Pool Balance at end of related Collection Period: $297,047,361.92
(4) After giving effect to distributions on this Payment Date:
(a) (i) outstanding principal amount of A-1 Notes: $0.00
(ii) A-1 Note Pool Factor: 0.0000000
(b) (i) outstanding principal amount of A-2 Notes: $542,142.83
(ii) A-2 Note Pool Factor: 0.0019225
(c) (i) outstanding principal amount of A-3 Notes: $259,125,000.00
(ii) A-3 Note Pool Factor: 1.0000000
(d) (i) outstanding principal amount of B Notes: $26,000,000.00
(ii) B Note Pool Factor: 1.0000000
(e) (i) Certificate Balance $11,375,000.00
(ii) Certificate Pool Factor: 1.0000000
(5) Amount of Servicing Fee: $255,912.20
per $1,000 Beginning of Collection Period: $0.83333333
(6) Amount of Administration Fee: $166.67
per $1,000 Beginning of Collection Period: $0.00054273
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $214,123.51
(9) Amount in Spread Account: $13,000,000.00
(10) Amount in Pre-Funding Account: $0.00
(11) For the Final payment date with respect to the
Funding Period, the Remaining Pre-Funded Amount NA
(12) Amount in Negative Carry Account: $0.00
<PAGE>
CASE EQUIPMENT LOAN TRUST 1997-A
PAYMENT AND DEPOSIT INSTRUCTIONS TO INDENTURE TRUSTEE
$71,500,000 Class A-1 5.597% Asset Backed Notes due March 15, 1998
$282,000,000 Class A-2 6.000% Asset Backed Notes due March 15, 2004
$259,125,000 Class A-3 6.450% Asset Backed Notes due March 15, 2004
$26,000,000 Class B 6.700% Asset Backed Notes due March 15, 2004
$11,375,000 6.700% Asset Backed Certificates due March 15, 2004
Payment Date: 16-Nov-98
(1) Payment of Administration Fee to Administrator: $166.67
(2) Offered Noteholders' Interest Distributable Amount
deposited into Note Distribution Account: $1,590,910.66
(3) Noteholders' Principal Distributable Amount to be
deposited into Noteholders' Distribution Account: $10,047,278.81
(4) Certificateholders' Interest Distributable Amount to be
deposited into Certificateholders' Distribution Account: $63,510.42
(5) Certificateholders' Principal Distributable Amount to be
deposited into Certificateholders' Distribution Account: $0.00
(6) Payment of Servicing Fee to Servicer: $255,912.20
(7) Release to Seller from Excess Collections over Distributions $216,647.68
Check for Error NO ERROR
Sum of Above Distributions $12,174,426.44
Total Distribution Amount plus Releases to Seller $12,174,426.44
<PAGE>
CASE EQUIPMENT LOAN TRUST 1997-A
SERVICER'S CERTIFICATE
$71,500,000 Class A-1 5.597% Asset Backed Notes due March 15, 1998
$282,000,000 Class A-2 6.000% Asset Backed Notes due March 15, 2004
$259,125,000 Class A-3 6.450% Asset Backed Notes due March 15, 2004
$26,000,000 Class B 6.700% Asset Backed Notes due March 15, 2004
$11,375,000 6.700% Asset Backed Certificates due March 15, 2004
Payment Date: 16-Nov-98
(1) Total Distribution Amount: $12,174,426.44
(2) Administration Fee: $166.67
(3) Noteholders' Interest Distributable Amount applicable to A-1 Notes: $0.00
(4) Noteholders' Interest Carryover Shortfall applicable to A-1 Notes: $0.00
(5) Noteholders' Interest Distributable Amount applicable to A-2 Notes: $52,947.11
(6) Noteholders' Interest Carryover Shortfall applicable to A-2 Notes: $0.00
(7) Noteholders' Interest Distributable Amount applicable to A-3 Notes: $1,392,796.88
(8) Noteholders' Interest Carryover Shortfall applicable to A-3 Notes: $0.00
(9) Noteholders' Interest Distributable Amount applicable to B Notes: $145,166.67
(10) Noteholders' Interest Carryover Shortfall applicable to B Notes: $0.00
(11) Offered Noteholders' Interest Distributable Amount' $1,590,910.66
deposited into Note Distribution Account:
(12) A-1 Noteholders' Monthly Principal Distributable Amount: $0.00
(13) % of Principal Distribution Amount applicable to A-1 Noteholders 0.00%
(14) A-1 Noteholders' Principal Carryover Shortfall: $0.00
(15) A-1 Noteholders' Principal Distributable Amount: $0.00
(16) A-2 Noteholders' Monthly Principal Distributable Amount: $10,047,278.81
(17) % of Principal Distribution Amount applicable to A-2 Noteholders 100.00%
(18) A-2 Noteholders' Principal Carryover Shortfall: $0.00
(19) A-2 Noteholders' Principal Distributable Amount: $10,047,278.81
(20) A-3 Noteholders' Monthly Principal Distributable Amount: $0.00
(21) % of Principal Distribution Amount applicable to A-3 Noteholders 0.00%
(22) A-3 Noteholders' Principal Carryover Shortfall: $0.00
(23) A-3 Noteholders' Principal Distributable Amount: $0.00
(24) B Noteholders' Monthly Principal Distributable Amount: $0.00
(25) % of Principal Distribution Amount applicable to B Noteholders 0.00%
(26) B Noteholders' Principal Carryover Shortfall: $0.00
(27) B Noteholders' Principal Distributable Amount: $0.00
(28) Noteholders' Principal Distribution Amount: $10,047,278.81
(29) Noteholders' Distributable Amount: $11,638,189.47
(30) Certificateholders' Interest Distributable Amount: $63,510.42
(31) Certificateholders' Interest Carryover Shortfall: $0.00
(32) Certificateholders' Percentage: 0.00%
(33) Certificateholders' Principal Distributable Amount applicable
to current period $0.00
(34) Certificateholders' Principal Carryover Shortfall: $0.00
(35) Certificateholders' Principal Distributable Amount: $0.00
(36) Certificateholders' Distributable Amount: $63,510.42
(37) Servicing Fee: $255,912.20
(38) Deposit to Spread Account (from excess collections): $216,647.68
(39) Specified Spread Account Balance (after all distributions
and adjustments): $13,000,000.00
The Lesser of:
(a) 2.00% of the Initial Pool Balance $13,000,000.00
(b) the Note Balance $297,042,142.83
(40) Spread Account Balance over the Specified Spread Account Balance: $216,647.68
(41) Excess Amounts Distributed To Seller:
(a) Release of Excess Amount in Spread Account $216,647.68
(b) Release of Excess Amount in Negative Carry Account 0.00
(42) Amount to be withdrawn from the Spread Account and deposited
into the Note Distribution Account $0.00
(44) Pool Balance as of the opening of business on the first day of
the Collection Period in which the Payment Date occurs: $307,094,640.73
(45) After giving effect to all distributions on such Payment Date:
<PAGE>
Outstanding Principal Balance of A-1 Notes: $0.00
A-1 Note Pool Factor: 0.0000000
Outstanding Principal Balance of A-2 Notes: $542,142.83
A-2 Note Pool Factor: 0.0019225
Outstanding Principal Balance of A-3 Notes: $259,125,000.00
A-3 Note Pool Factor: 1.0000000
Outstanding Principal Balance of B Notes: $26,000,000.00
B Note Pool Factor: 1.0000000
Outstanding Principal Balance of the Certificates: $11,375,000.00
Certificate Pool Factor: 1.0000000
(46) Aggregate Purchase Amounts for related Collection Period: $0.00
(47) Aggregate Amount of Realized Losses for the related
Collection Period: $214,123.51
(48) Spread Account Balance after giving effect to all distributions: $13,000,000.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CASE EQUIPMENT LOAN TRUST 1997-B
$90,000,000 Class A-1 5.612% Asset Backed Notes due October 13, 1998 NPV Data Input Section
$204,500,000 Class A-2 5.914% Asset Backed Notes due September 15, 2000 Scheduled cash flows as of the
$237,000,000 Class A-3 6.240% Asset Backed Notes due September 15, 2004
$188,591,000 Class A-4 6.410% Asset Backed Notes due September 15, 2004
$97,960,250 Class B Floating Rate Asset Backed Notes due September 15, 2004
$37,719,000 Class C 6.410% Asset Backed Notes due September 15, 2004
$15,190,000 6.410% Asset Backed Certificates due September 15, 2004
<S><C>
19-Nov-98
07:34 AM
Prepared by Lisa Sorenson (414)636-6184 File: us97b.xls
---------------------------------------------------------------------------------------------
31-Aug-97 05-Nov-98 05-Nov-98 05-Nov-98 05-Nov-98
---------------------------------------------------------------------------------------------
Pool 1 Cutoff Pool 1 Pool 2 Pool 3 Pool 4
0 1,177,249.91 3,990,777.34 1,815,961.23 2,213,759.14 7,924,684.83
1 6,659,719.81 6,798,850.23 2,291,022.52 1,915,213.10 8,165,957.23
2 6,534,773.62 7,179,525.72 2,325,709.25 1,777,235.98 3,196,705.97
3 6,984,610.38 5,182,769.97 1,537,501.76 1,145,078.75 2,156,374.27
4 10,446,903.15 4,536,158.36 1,583,854.29 976,873.58 2,106,690.69
5 8,329,023.40 5,250,758.26 1,544,365.80 1,237,194.62 2,094,760.20
6 6,232,683.33 6,819,687.15 1,190,831.37 1,013,255.62 2,061,104.70
7 6,320,726.36 11,100,621.61 1,113,184.62 1,022,513.22 1,843,043.71
8 8,485,392.69 10,252,365.33 1,752,938.77 1,167,931.89 2,068,785.27
9 12,048,887.10 10,099,113.31 1,414,267.80 1,005,638.32 2,317,326.09
10 14,644,000.73 7,037,782.71 6,845,419.54 1,699,073.86 3,122,750.13
11 14,137,496.87 4,520,897.92 3,927,594.46 6,217,597.28 3,008,796.18
12 11,667,759.49 4,687,161.40 1,664,789.21 2,768,794.81 15,183,040.58
13 6,930,958.47 6,160,369.91 1,870,795.33 1,774,665.76 8,449,842.63
14 6,299,823.14 6,430,768.81 2,004,758.18 1,617,784.05 3,300,190.75
15 6,824,045.37 4,841,540.67 1,362,078.06 1,064,833.05 1,936,618.27
16 10,425,799.25 4,227,934.44 1,285,727.54 896,092.84 1,914,013.55
17 7,966,016.16 4,898,093.53 1,417,709.73 1,129,456.18 1,885,627.02
18 5,872,271.46 6,481,342.85 1,067,864.71 883,297.70 1,846,687.33
19 5,987,805.41 10,487,968.34 1,020,273.90 915,063.48 1,661,109.56
20 8,167,460.88 9,360,187.00 1,645,520.92 1,021,386.77 1,839,029.89
21 11,705,614.28 9,020,373.45 1,317,405.15 913,175.40 1,959,008.58
22 14,220,372.77 5,947,398.52 6,541,118.52 1,584,847.53 2,780,739.11
23 13,761,263.49 3,452,988.23 3,657,191.64 5,915,632.90 2,729,996.07
24 11,210,927.99 3,476,877.97 1,433,159.10 2,514,152.36 14,515,961.88
25 6,624,361.87 4,711,839.73 1,568,580.60 1,531,365.51 7,246,773.23
26 5,740,355.70 4,777,397.22 1,726,937.31 1,367,529.59 2,463,114.21
27 6,424,415.91 3,484,062.00 1,101,166.04 876,503.00 1,504,283.43
28 9,775,715.64 2,970,325.67 961,041.17 741,448.18 1,467,138.35
29 7,482,998.61 3,355,075.68 1,044,650.38 878,658.44 1,392,654.38
30 5,557,953.05 4,079,698.57 790,019.08 673,028.89 1,332,811.13
31 5,609,822.66 5,983,941.53 746,454.59 719,647.50 1,179,102.98
32 7,669,989.82 5,766,975.99 1,295,148.65 794,456.30 1,358,240.88
33 11,162,718.67 5,410,298.40 1,038,015.24 678,912.04 1,410,271.90
34 13,235,556.56 3,163,441.55 5,205,968.20 1,273,826.51 2,199,581.83
35 12,542,910.53 1,136,619.77 2,575,163.89 4,530,643.02 1,943,086.92
36 9,928,723.89 1,136,439.53 936,865.78 1,795,741.55 11,817,070.08
37 5,129,980.46 1,957,731.93 941,006.61 947,579.42 5,622,920.81
38 4,354,845.95 2,166,111.13 957,999.74 780,187.30 1,540,456.96
39 4,889,943.50 1,280,459.22 500,353.46 309,365.15 710,623.85
40 7,657,111.36 894,014.68 322,545.97 269,873.98 688,839.99
41 5,443,438.38 1,029,369.93 487,834.03 366,536.19 545,415.38
42 4,072,147.80 1,327,386.40 277,155.45 232,539.64 428,829.52
43 4,042,827.78 2,554,376.46 231,798.24 256,352.71 356,187.78
44 5,247,728.10 2,453,379.11 531,729.84 322,836.63 579,098.58
45 7,108,867.81 2,617,618.78 443,963.18 220,404.35 539,388.81
46 8,298,173.11 1,531,326.09 2,588,184.57 507,801.59 1,137,949.82
47 7,976,566.27 260,729.02 1,591,365.04 2,531,673.17 1,066,077.46
48 5,851,367.78 188,228.57 399,020.97 1,059,274.73 8,675,270.33
49 2,223,150.62 280,402.08 307,838.26 470,662.77 3,963,399.73
50 1,416,948.02 207,776.51 370,545.52 432,512.54 895,414.59
51 1,718,257.67 35,037.52 194,879.96 63,326.35 212,978.56
52 3,905,247.51 96,647.36 10,745.87 65,757.39 141,387.22
53 2,481,818.67 65,708.02 20,472.81 46,218.20 35,684.41
54 1,355,344.38 98,825.23 6,909.31 5,165.46 26,487.28
55 1,259,850.35 71,709.76 2,920.75 40,132.30 11,506.00
56 1,818,367.28 95,095.47 2,920.75 5,165.46 41,465.87
57 2,613,174.13 16,959.53 39,514.11 5,165.46 32,006.10
58 3,895,634.50 7,940.28 110,263.20 43,764.44 49,782.69
59 4,162,542.10 0.00 13,379.00 133,457.81 147,236.19
60 3,316,944.40 0.00 0.00 0.00 112,839.77
61 839,878.60 0.00 0.00 0.00 0.00
62 207,734.88 19,782.45 0.00 0.00 0.00
63 306,822.64 0.00 0.00 0.00 0.00
64 524,009.56 0.00 0.00 0.00 0.00
65 131,373.18 0.00 0.00 0.00 0.00
66 35,339.32 0.00 0.00 0.00 0.00
67 109,901.23 0.00 0.00 0.00 0.00
68 167,092.62 0.00 0.00 0.00 0.00
69 102,874.99 0.00 0.00 0.00 0.00
70 189,709.96 0.00 0.00 0.00 0.00
71 129,985.21 0.00 0.00 0.00 0.00
72 0.00 0.00 0.00 0.00 0.00
73 0.00 0.00 0.00 0.00 0.00
Total Time Balance of
Scheduled Cash Flows 427,782,108.54 227,475,044.20 82,974,400.97 69,368,061.76 162,944,221.51
<PAGE>
CASE EQUIPMENT LOAN TRUST 1997-B
$90,000,000 Class A-1 5.612% Asset Backed Notes due October 13, 1998
$204,500,000 Class A-2 5.914% Asset Backed Notes due September 15, 2000
$237,000,000 Class A-3 6.240% Asset Backed Notes due September 15, 2004
$188,591,000 Class A-4 6.410% Asset Backed Notes due September 15, 2004
$97,960,250 Class B Floating Rate Asset Backed Notes due September 15, 2004
$37,719,000 Class C 6.410% Asset Backed Notes due September 15, 2004
$15,190,000 6.410% Asset Backed Certificates due September 15, 2004
Prepared by Lisa Sorenson (414)636-6184 11/19/98
07:34 AM
Payment Date 16-Nov-98
Collection Period Begin Date 06-Oct-98
Collection Period End Date 31-Aug-97 05-Nov-98
Days in accrual period (30/360) 30
Days in accrual period (ACT/360) 32
One-Month LIBOR 5.40859%
PART I -- MONTHLY DATA INPUT
FIXED RATE COLLATERAL
Receipts During the Period $31,701,388.36
Warranty Repurchases
Contracts deferred beyond Final Scheduled Maturity Date $0.00
Government obligors $0.00
Total Warranty Repurchases $0.00
Total Fixed Rate Collections For The Period $31,701,388.36
FLOATING RATE COLLATERAL
Receipts During the Period $2,914,110.46
Warranty Repurchases
Contracts deferred beyond Final Scheduled Maturity Date $0.00
Government obligors $0.00
Total Warranty Repurchases $0.00
Total Floating Rate Collections For The Period $2,914,110.46
Pool Balance (Beg. of Collection Period) $54,835,025.21
Pool Balance (End of Collection Period) $52,256,863.16
Total Collection $34,615,498.82
Negative Carry Amount $0.00
Reinvestment Income (including Pre-Funding Account and Spread Account) $182,114.95
Pre-Funding Account Reinvestment Income $0.00
Total Distribution Amount $34,797,613.77
MISCELLANEOUS DATA
FIXED RATE COLLATERAL
Scheduled Amounts 30 - 59 days past due $4,128,795.99
Scheduled Amounts 60 days or more past due $1,627,424.62
Net Losses on Liquidated Receivables $21,295.13
Number of Loans at Beginning of Period 20,188
Number of Loans at End of Period 19,789
Repossessed Equipment not Sold or Reassigned (Beginning) $0.00
Repossessed Equipment not Sold or Reassigned (End) $0.00
FLOATING RATE COLLATERAL
Scheduled Amounts 30 - 59 days past due $253,964.15
Scheduled Amounts 60 days or more past due $156,483.15
Net Losses on Liquidated Receivables $0.00
Number of Loans at Beginning of Period 3,557
Number of Loans at End of Period 3,485
Repossessed Equipment not Sold or Reassigned (Beginning) $0.00
Repossessed Equipment not Sold or Reassigned (End) $0.00
TOTAL COLLATERAL
Scheduled Amounts 30 - 59 days past due $4,382,760.14
Scheduled Amounts 60 days or more past due $1,783,907.77
Net Losses on Liquidated Receivables $21,295.13
Number of Loans at Beginning of Period 23,745
Number of Loans at End of Period 23,274
Repossessed Equipment not Sold or Reassigned (Beginning) $0.00
Repossessed Equipment not Sold or Reassigned (End) $0.00
Pre-Funding Account Reinvestment Income $0.00
<PAGE>
CASE EQUIPMENT LOAN TRUST 1997-B
$90,000,000 Class A-1 5.612% Asset Backed Notes due October 13, 1998
$204,500,000 Class A-2 5.914% Asset Backed Notes due September 15, 2000
$237,000,000 Class A-3 6.240% Asset Backed Notes due September 15, 2004
$188,591,000 Class A-4 6.410% Asset Backed Notes due September 15, 2004
$97,960,250 Class B Floating Rate Asset Backed Notes due September 15, 2004
$37,719,000 Class C 6.410% Asset Backed Notes due September 15, 2004
$15,190,000 6.410% Asset Backed Certificates due September 15, 2004
PAYMENT DATE 16-Nov-98
Collection Period Begin Date 06-Oct-98
Collection Period End Date 05-Nov-98
PART II -- SUMMARY
Total Principal Balance of Notes and Certificates (Beginning of Period) $554,252,322.94
A-1 Note Beginning Principal Balance $0.00
A-2 Note Beginning Principal Balance $36,460,690.62
A-3 Note Beginning Principal Balance $237,000,000.00
A-4 Note Beginning Principal Balance $188,591,000.00
B Note Beginning Principal Balance $54,835,024.38
C Note Beginning Principal Balance $22,175,607.94
Certificate Beginning Principal Balance $15,190,000.00
Total Principal Balance of Notes and Certificates (End of Period) $523,417,647.26
A-1 Note Principal Balance (End of Period) $0.00
A-1 Note Pool Factor (End of Period) 0.0000000
A-2 Note Principal Balance (End of Period) $9,437,584.98
A-2 Note Pool Factor (End of Period) 0.0461496
A-3 Note Principal Balance (End of Period) $237,000,000.00
A-3 Note Pool Factor (End of Period) 1.0000000
A-4 Note Principal Balance (End of Period) $188,591,000.00
A-4 Note Pool Factor (End of Period) 1.0000000
B Note Principal Balance (End of Period) 52,256,862.33
B Note Pool Factor (End of Period) 0.5334497
C Note Principal Balance (End of Period) $20,942,199.95
C Note Pool Factor (End of Period) 0.6031913
Certificate Principal Balance (End of Period) $15,190,000.00
Certificate Pool Factor (End of Period) 1.0000000
FIXED RATE CONTRACT VALUE DECLINE $28,256,513.63
Pool Balance (Beg. of Collection Period) $499,545,752.18
Pool Balance (End of Collection Period) $471,289,238.55
Fixed Rate Distribution Amount (FxDA) $31,883,503.31
Total Collections and Investment Income for the Period $31,883,503.31
Negative Carry Amount $0.00
Fixed Rate Principal Distribution Amount (FxPDA) $28,256,513.63
FLOATING RATE CONTRACT VALUE DECLINE $2,578,162.05
Pool Balance (Beg. of Collection Period) $54,835,025.21
Pool Balance (End of Collection Period) $52,256,863.16
Floating Rate Distribution Amount (FltDA) $2,914,110.46
Principal Allocation to Notes and Certificates
A-1 Noteholders' Principal Distributable Amount $0.00
A-2 Noteholders' Principal Distributable Amount $27,023,105.64
A-3 Noteholders' Principal Distributable Amount $0.00
A-4 Noteholders' Principal Distributable Amount $0.00
B Noteholders' Principal Distributable Amount $2,578,162.05
C Noteholders' Principal Distributable Amount $1,233,407.99
Certificateholders' Principal Distributable Amount $0.00
Interest Distributable Amount $1,623,664.43
Noteholders' Interest Distributable Amount applicable to A-1 Notes $0.00
Noteholders' Interest Distributable Amount applicable to A-2 Notes $191,669.80
Noteholders' Interest Distributable Amount applicable to A-3 Notes $1,232,400.00
Noteholders' Interest Distributable Amount applicable to A-4 Notes $1,007,390.26
Noteholders' Interest Distributable Amount applicable to B Notes $273,375.26
Noteholders' Interest Distributable Amount applicable to C Notes $118,454.71
Certificateholders' Interest Distributable Amount $81,139.92
Spread Account
Beginning Spread Account Balance $17,359,205.00
Deposit to Spread Account from Pre-Funding Account $0.00
Deposit to Spread Account from Excess Collections over Distributions $1,139,481.39
Distribution from Spread Account for Interest / Principal Shortfall $0.00
Specified Spread Account Balance $17,359,205.00
Ending Spread Account Balance (after distributions) $17,359,205.00
Credit Enhancement 3.34%
Spread account % of Ending Pool Balance 3.32%
Overcollateralization % of Ending Pool Balance 0.02%
Scheduled Amounts 30 - 59 days past due $4,382,760.14
as % of Ending Pool Balance 0.84%
Scheduled Amounts 60 days or more past due $1,783,907.77
as % of Ending Pool Balance 0.34%
Net Losses on Liquidated Receivables $21,295.13
as % of Ending Pool Balance 0.00%
<PAGE>
PART III -- SERVICING CALCULATIONS 16-Nov-98
1. Sources and Uses of Collection Account
Balance Pool 1 Cutoff Pool 1 Pool 2 Pool 3 Pool 4
FIXED RATE POOL
Wtd. Avg. APR 8.637% 8.637% 8.833% 8.872% 8.799%
Fixed Rate Contract Value (Beg. of
Collection Period), by origination pool $207,569,907.78 $74,774,741.45 $65,765,529.45 $151,435,573.50
Fixed Rate Contract Value (End of
Collection Period), by origination pool $358,115,964.52 $200,449,757.57 $71,533,539.89 $59,576,393.85 $139,729,547.24
Fixed Rate Contract Value Decline $7,120,150.21 $3,241,201.56 $6,189,135.60 $11,706,026.26
3.43% 4.33% 9.41% 7.73%
Fixed Rate Initial Pool Balance $499,545,752.18
Fixed Rate Pool Balance (End of Collection
Period) $471,289,238.55
Fixed Rate Collections and Investment Income
for the period $31,883,503.31
Negative Carry Amount $0.00
Fixed Rate Distribution Amount (FxDA) $31,883,503.31
Fixed Rate Principal Distribution Amount
(FxPDA) $28,256,513.63
Initial C Percentage 4.000%
Fixed Rate Unscheduled Principal (per pool) $0.00 $0.00 $430,579.30 $0.00
Total Fixed Rate Unscheduled Principal $430,579.30
FLOATING RATE POOL
Floating Rate Contract Value (Beg. of
Collection Period) $54,835,025.21
Floating Rate Contract Value (End of
Collection Period) $52,256,863.16
Floating Rate Contract Value Decline $2,578,162.05
Floating Rate Distribution Amount (FltDA) $2,914,110.46
Floating Rate Principal Distribution
Amount (FltPDA) $2,578,162.05
2. Calculation of Distributable Amounts
A-1 Note Beginning Principal Balance $0.00
A-1 Noteholders' Principal Carryover
Shortfall (Previous Period) $0.00
A-1 Noteholders' Share of the Fixed Rate
Principal Distribution Amount 0.00%
A-1 Noteholders' Principal Distributable
Amount $0.00
Fixed Rate Principal Distribution Amount
Remaining $28,256,513.63
Floating Rate Principal Distribution
Amount Remaining $2,578,162.05
A-2 Note Beginning Principal Balance $36,460,690.62
A-2 Noteholders' Principal Carryover
Shortfall (Previous Period) $0.00
A-2 Noteholders' Share of the Fixed Rate
Principal Distribution Amount 95.63%
A-2 Noteholders' Principal Distributable
Amount $27,023,105.64
Fixed Rate Principal Distribution Amount
Remaining $1,233,407.99
Floating Rate Principal Distribution
Amount Remaining $2,578,162.05
A-3 Note Beginning Principal Balance $237,000,000.00
A-3 Noteholders' Principal Carryover
Shortfall (Previous Period) $0.00
A-3 Noteholders' Share of the Fixed Rate
Principal Distribution Amount 0.00%
A-3 Noteholders' Principal Distributable
Amount $0.00
Fixed Rate Principal Distribution Amount
Remaining $1,233,407.99
Floating Rate Principal Distribution
Amount Remaining $2,578,162.05
A-4 Note Beginning Principal Balance $188,591,000.00
A-4 Noteholders' Principal Carryover
Shortfall (Previous Period) $0.00
A-4 Noteholders' Share of the Fixed Rate
Principal Distribution Amount 0.00%
A-4 Noteholders' Principal Distributable
Amount $0.00
Fixed Rate Principal Distribution Amount
Remaining $1,233,407.99
Floating Rate Principal Distribution
Amount Remaining $2,578,162.05
B Note Beginning Principal Balance $54,835,024.38
B Noteholders' Principal Carryover
Shortfall (Previous Period) $0.00
B Noteholders' Share of the Floating Rate
Principal Distribution Amount 100.00%
B Noteholders' Principal Distributable Amount $2,578,162.05
Fixed Rate Principal Distribution Amount
Remaining $1,233,407.99
Floating Rate Principal Distribution Amount
Remaining $0.00
C Note Beginning Principal Balance $22,175,607.94
C Noteholders' Principal Carryover Shortfall
(Previous Period) $0.00
C Noteholders' Share of the Fixed Rate &
Floating Rate Principal Distribution
Amounts 4.00%
C Noteholders' Principal Distributable
Amount $1,233,407.99
Fixed Rate Principal Distribution Amount
Remaining $0.00
Floating Rate Principal Distribution Amount
Remaining $0.00
Certificate Beginning Principal Balance $15,190,000.00
Certificateholders' Principal Carryover
Shortfall (Previous Period) $0.00
Certificateholders' Share of the Fixed Rate
& Floating Rate Principal Distribution
Amounts 0.00%
Certificateholders' Principal Distributable
Amount $0.00
Interest Accrued on Class A-1 Notes this period 5.6120% $0.00
Noteholders' Interest Carryover Shortfall
(Previous Period) applicable to A-1 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount
applicable to A-1 Notes $0.00
Interest Accrued on Class A-2 Notes this period 5.9140% $191,669.80
Noteholders' Interest Carryover Shortfall
(Previous Period) applicable to A-2 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount
applicable to A-2 Notes $191,669.80
Interest Accrued on Class A-3 Notes this period 6.2400% $1,232,400.00
Noteholders' Interest Carryover Shortfall
(Previous Period) applicable to A-3 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount
applicable to A-3 Notes $1,232,400.00
Interest Accrued on Class A-4 Notes this period 6.4100% $1,007,390.26
Noteholders' Interest Carryover Shortfall
(Previous Period) applicable to A-4 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount
applicable to A-4 Notes $1,007,390.26
Interest Accrued on Class A-1, A-2, A-3 and
A-4 Notes this period $2,431,460.06
Offered Noteholders' Interest Carryover
Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
<PAGE>
Offered Noteholders' Interest Distributable
Amount $2,431,460.06
Class B Notes Net Funds Cap 6.89235%
Class B Accrual Rate (Min(Net Funds Cap,
1 Month Libor +20bp)) 5.60859%
Net Funds Cap? NO
Interest Accrued on Class B Notes this period 1 Month Libor + $273,375.26
Noteholders' Interest Carryover Shortfall
(Previous Period) applicable to B Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount
applicable to B Notes $273,375.26
Preliminary Class B Net Funds Cap Carryover
Amount $0.00
Interest Accrued on Class C Notes this period 6.4100% $118,454.71
Noteholders' Interest Carryover Shortfall
(Previous Period) applicable to C Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount
applicable to C Notes $118,454.71
Interest Accrued on Certificates this period 6.4100% $81,139.92
Certificateholders' Interest Carryover
Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on Above Shortfall $0.00
Certificateholders' Interest Distributable
Amount $81,139.92
3. Allocation of Fixed Rate and Floating
Rate Distribution Amounts
a. FIXED RATE DISTRIBUTION AMOUNT (FxDA) $31,883,503.31
Fixed Rate Percentage of Administration
Fee Shortfall (Previous Period) $0.00
Fixed Rate Percentage of Administration
Fee Accrued during this Period $500.00 $150.18
Fixed Rate Percentage of Administration
Fee Paid this Period from FxDA $150.18
Fixed Rate Percentage of Administration
Fee Shortfall $0.00
Total Fixed Rate Distribution Amount
Remaining $31,883,353.13
Noteholders' Interest Carryover Shortfall
(Previous Period) applicable to A-1 Notes $0.00
Interest Due (in Arrears) on above
Shortfall $0.00
Interest Accrued on Class A-1 Notes this
period $0.00
Noteholders' Interest applicable to A-1
Notes Paid this Period from FxDA $0.00
Preliminary Noteholders' Interest
Carryover Shortfall (Current Period)
applicable to A-1 Notes $0.00
Noteholders' Interest Carryover Shortfall
(Previous Period) applicable to A-2 Notes $0.00
Interest Due (in Arrears) on above
Shortfall $0.00
Interest Accrued on Class A-2 Notes this
period $191,669.80
Noteholders' Interest applicable to A-2
Notes Paid this Period from FxDA $191,669.80
Preliminary Noteholders' Interest
Carryover Shortfall (Current Period)
applicable to A-2 Notes $0.00
Noteholders' Interest Carryover Shortfall
(Previous Period) applicable to A-3
Notes $0.00
Interest Due (in Arrears) on above
Shortfall $0.00
Interest Accrued on Class A-3 Notes this
period $1,232,400.00
Noteholders' Interest applicable to A-3
Notes Paid this Period from FxDA $1,232,400.00
Preliminary Noteholders' Interest
Carryover Shortfall (Current Period)
applicable to A-3 Notes $0.00
Noteholders' Interest Carryover Shortfall
(Previous Period) applicable to A-4
Notes $0.00
Interest Due (in Arrears) on above
Shortfall $0.00
Interest Accrued on Class A-4 Notes this
period $1,007,390.26
Noteholders' Interest applicable to A-4
Notes Paid this Period from FxDA $1,007,390.26
Preliminary Noteholders' Interest
Carryover Shortfall (Current Period)
applicable to A-4 Notes $0.00
Offered Noteholders' Interest Carryover
Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on above
Shortfall $0.00
Interest Accrued on Class A-1, A-2, A-3
and A-4 Notes this period $2,431,460.06
Offered Noteholders' Interest Paid this
Period from FxDA $2,431,460.06
Preliminary A Noteholders' Interest
Carryover Shortfall (Current Period) $0.00
Total Fixed Rate Distribution Amount
Remaining $29,451,893.07
Noteholders' Interest Carryover Shortfall
(Previous Period) applicable to C Notes $0.00
Interest Due (in Arrears) on above
Shortfall $0.00
Interest Accrued on Class C Notes this
period $118,454.71
Noteholders' Interest applicable to C
Notes Paid this Period from FxDA $118,454.71
Preliminary Noteholders' Interest
Carryover Shortfall (Current Period)
applicable to C Notes $0.00
Total Fixed Rate Distribution Amount
Remaining $29,333,438.36
A-1 Noteholders' Principal Carryover
Shortfall (Previous Period) $0.00
A-1 Noteholders' Monthly Principal
Distributable Amount $0.00
A-1 Noteholders' Principal Distributable
Amount Paid from FxDA $0.00
Preliminary A-1 Noteholders' Principal
Carryover Shortfall (Current Period) $0.00
Total Fixed Rate Distribution Amount
Remaining $29,333,438.36
A-2 Noteholders' Principal Carryover
Shortfall (Previous Period) $0.00
A-2 Noteholders' Monthly Principal
Distributable Amount $27,023,105.64
A-2 Noteholders' Principal Distributable
Amount Paid from FxDA $27,023,105.64
Preliminary A-2 Noteholders' Principal
Carryover Shortfall (Current Period) $0.00
Total Fixed Rate Distribution Amount
Remaining $2,310,332.72
A-3 Noteholders' Principal Carryover
Shortfall (Previous Period) $0.00
A-3 Noteholders' Monthly Principal
Distributable Amount $0.00
A-3 Noteholders' Principal Distributable
Amount Paid from FxDA $0.00
Preliminary A-3 Noteholders' Principal
Carryover Shortfall (Current Period) $0.00
Total Fixed Rate Distribution Amount
Remaining $2,310,332.72
A-4 Noteholders' Principal Carryover
Shortfall (Previous Period) $0.00
A-4 Noteholders' Monthly Principal
Distributable Amount $0.00
A-4 Noteholders' Principal Distributable
Amount Paid from FxDA $0.00
Preliminary A-4 Noteholders' Principal
Carryover Shortfall (Current Period) $0.00
Total Fixed Rate Excess Distribution
Amount $2,310,332.72
b. FLOATING RATE DISTRIBUTION AMOUNT (FltDA) $2,914,110.46
Floating Rate Percentage of Administration
Fee Shortfall (Previous Period) $0.00
Floating Rate Percentage of Administration
Fee Accrued during this Period $16.49
Floating Rate Percentage of Administration
Fee Paid this Period from FltDA $16.49
Floating Rate Percentage of Administration
Fee Shortfall $0.00
Total Floating Rate Distribution Amount
Remaining $2,914,093.97
Noteholders' Interest Carryover Shortfall
(Previous Period) applicable to B Notes $0.00
<PAGE>
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class B Notes this period $273,375.26
Noteholders' Interest applicable to B
Notes Paid this Period from FltDA $273,375.26
Preliminary Noteholders' Interest Carryover Shortfall
(Current Period) applicable to B Notes $0.00
Total Floating Rate Distribution Amount Remaining $2,640,718.71
B Noteholders' Principal Carryover
Shortfall (Previous Period) $0.00
B Noteholders' Monthly Principal
Distributable Amount $2,578,162.05
B Noteholders' Principal Distributable
Amount Paid from FltDA $2,578,162.05
Preliminary B Noteholders' Principal
Carryover Shortfall (Current Period) $0.00
Total Floating Rate Excess Distribution
Amount $62,556.66
c. ALLOCATION OF FIXED RATE EXCESS
DISTRIBUTION AMOUNT $2,310,332.72
Preliminary Noteholders' Interest
Carryover Shortfall (Current Period)
applicable to B Notes $0.00
B Noteholders' Interest Carryover
Shortfall paid from Fx Excess DA $0.00
Preliminary Noteholders' Interest
Carryover Shortfall (Current Period)
applicable to B Notes Remaining $0.00
Preliminary B Noteholders' Principal
Carryover Shortfall (Current Period) $0.00
B Noteholders' Principal Carryover
Shortfall paid from Fx Excess DA $0.00
Preliminary B Noteholders' Principal
Carryover Shortfall (Current Period)
Remaining $0.00
Remaining Fixed Rate Excess Distribution
Amount $2,310,332.72
d. ALLOCATION OF FLOATING RATE EXCESS
DISTRIBUTION AMOUNT $62,556.66
Preliminary A Noteholders' Interest
Carryover Shortfall (Current Period) $0.00
A Noteholders' Interest Carryover
Shortfall paid from Flt Excess DA $0.00
Preliminary A Noteholders' Interest
Carryover Shortfall (Current Period)
Remaining $0.00
Preliminary Noteholders' Interest
Carryover Shortfall (Current Period)
applicable to C Notes $0.00
C Noteholders' Interest Carryover
Shortfall paid from Flt Excess DA $0.00
Preliminary C Noteholders' Interest
Carryover Shortfall (Current Period)
Remaining $0.00
Preliminary A Noteholders' Principal
Carryover Shortfall (Current Period) $0.00
A Noteholders' Principal Carryover
Shortfall paid from Flt Excess DA $0.00
Preliminary A Noteholders' Principal
Carryover Shortfall (Current Period)
Remaining $0.00
Remaining Floating Rate Excess
Distribution Amount $62,556.66
e. ALLOCATION OF REMAINING FIXED AND
FLOATING RATE EXCESS DISTRIBUTION
AMOUNTS $2,372,889.38
C Noteholders' Principal Carryover
Shortfall (Previous Period) $0.00
C Noteholders' Monthly Principal
Distributable Amount $1,233,407.99
C Noteholders' Principal Distributable
Amount Paid from Fx and Flt Excess DA $1,233,407.99
Preliminary C Noteholders' Principal
Carryover Shortfall (Current Period) $0.00
Total Fixed and Floating Rate Excess
Distribution Amount Remaining $1,139,481.39
4. Reconciliation of Pre-Funding Account
Beginning Pre-Funding Account Balance $0.00
New Collateral Purchased $0.00
Deposit to Spread Account 2.00% $0.00
Payment to Seller $0.00
Ending Pre-Funding Account Balance $0.00
Excess Pre-Funded Amount/(Payment to
Seller) $0.00
Adjusted Ending Pre-Funding Account
Balance $0.00
5. Reconciliation of Negative Carry
Account
Beginning Negative Carry Account Balance 142 days $0.00
Pre-Funded Percentage 0.000%
Negative Carry Withdrawls $0.00
Cumulative Negative Carry Withdrawls $4,724,734.08
Maximum Negative Carry Amount 89 days $0.00
Required Negative Carry Account Balance $0.00
Interim Ending Negative Carry Account
Balance $0.00
Negative Carry Amount Released to Seller $0.00
Ending Negative Carry Account Balance $0.00
6. Distributions from Spread Account
Beginning Spread Account Balance $17,359,205.00
Deposit to Spread Account from Pre-Funding
Account $0.00
Deposit to Spread Account from Excess
Collections over Distributions $1,139,481.39
Distribution from Spread Account to
Noteholders' Distr. Account $0.00
Adj to Preliminary Noteholders' Interest
Carryover Shortfall (Current Period)
applicable to A-1 Notes $0.00
Adj to Preliminary Noteholders' Interest
Carryover Shortfall (Current Period)
applicable to A-2 Notes $0.00
Adj to Preliminary Noteholders' Interest
Carryover Shortfall (Current Period)
applicable to A-3 Notes $0.00
Adj to Preliminary Noteholders' Interest
Carryover Shortfall (Current Period)
applicable to A-4 Notes $0.00
Adj to Preliminary Noteholders' Interest
Carryover Shortfall (Current Period)
applicable to B Notes $0.00
Adj to Preliminary A-1 Noteholders'
Principal Carryover Shortfall (Current
Period) $0.00
Adj to Preliminary A-2 Noteholders'
Principal Carryover Shortfall (Current
Period) $0.00
Adj to Preliminary A-3 Noteholders'
Principal Carryover Shortfall (Current
Period) $0.00
Adj to Preliminary A-4 Noteholders'
Principal Carryover Shortfall (Current
Period) $0.00
Adj to Preliminary B Noteholders'
Principal Carryover Shortfall (Current
Period) $0.00
Adj to Preliminary Noteholders' Interest
Carryover Shortfall (Current Period)
applicable to C Notes $0.00
Adj to Preliminary C Noteholders'
Principal Carryover Shortfall (Current
Period) $0.00
Preliminary Spread Account Balance
Remaining $18,498,686.39
Cumulative Realized Losses since
31-August-97 (Cut-off Date) $237,206.39
Are Cum. Realized Losses > 2.25% of
Initial Pool Balance? NO
12*(Realized Losses during Collection
Period + Repos at end of Collection
Period) $255,541.56
Is 12*Realized Losses + Unliq. Repos >
1.65% of Beg. Pool Balance? NO
60 day or > Delinquent Scheduled Amounts $1,783,907.77
Are 60 day or > Delinquencies > 2.25% of
Ending Pool Balance? NO
<PAGE>
Are any of the three conditions "YES"? NO
Preliminary A-1 Note Principal Balance
(End of Period) $0.00
Preliminary A-2 Note Principal Balance
(End of Period) $9,437,584.98
Preliminary A-3 Note Principal Balance
(End of Period) $237,000,000.00
Preliminary A-4 Note Principal Balance
(End of Period) $188,591,000.00
Preliminary B Note Principal Balance (End
of Period) $52,256,862.33
Preliminary C Note Principal Balance (End
of Period) $20,942,199.95
Preliminary Total Principal Balance of
Notes (End of Period) $508,227,647.26
Specified Spread Account Balance 17,359,205.00
Lesser of:
(a) 2.00% of the Initial Pool Balance 2.00% 17,359,205.00
(b) the Note Balance 508,227,647.26
Preliminary Spread Account Balance
Remaining $18,498,686.39
Preliminary Excess Amount in Spread
Account $1,139,481.39
Preliminary Shortfall Amount in Spread
Account $0.00
Deposit to Spread Account from Remaing
Fixed and Floating Rate Excess
Distribution $0.00
Spread Account Excess $1,139,481.39
Ending Spread Account Balance (after
distributions) $17,359,205.00
Net Change in Spread Account Balance $0.00
7. Distribution to Class B Net Funds Cap,
Certificate Distributions and
Servicing Fees
Total Fixed and Floating Rate Excess
Distribution Amount Remaining $1,139,481.39
Preliminary Class B Net Funds Cap
Carryover Amount $0.00
Preliminary Class B Net Funds Cap
Carryover Amount Paid from Fixed and
Floating Rate Excess $0.00
Class B Net Funds Cap Carryover Amount $0.00
Total Fixed and Floating Rate Excess
Distribution Amount Remaining $1,139,481.39
Certificateholders' Interest Carryover
Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on Above
Shortfall $0.00
Interest Accrued on Certificates this
period $81,139.92
Certificateholders' Interest Paid from
Fixed and Floating Rate Excess
Distribution $81,139.92
Preliminary Certificateholders' Interest
Carryover Shortfall (Current Period) $0.00
Total Fixed and Floating Rate Excess
Distribution Amount Remaining $1,058,341.47
Certificateholders' Principal Carryover
Shortfall (Previous Period) $0.00
Certificateholders' Principal
Distributable Amount applicable to
current period $0.00
Certificateholders' Principal
Distributable Amount Paid from Fixed and
Floating Rate Excess Distrbution $0.00
Preliminary Certificateholders' Principal
Carryover Shortfall (Current Period) $0.00
Total Fixed and Floating Rate Excess
Distribution Amount Remaining $1,058,341.47
Servicing Fee Shortfall (Previous Period) 0.00
Servicing Fees Accrued during this Period 1.00% $461,983.98
Servicing Fees Paid this Period from Fixed
and Floating Rate Excess $461,983.98
Adjustment to Servicing Fee $0.00
Adjustment to Excess Distribution Amount
Remaining $0.00
Servicing Fee Shortfall $0.00
Total Fixed and Floating Rate Excess
Distribution Amount Remaining $596,357.49
8. Ending Balances
Noteholders' Interest Carryover Shortfall
(Current Period) applicable to A-1 Notes $0.00
Noteholders' Interest Carryover Shortfall
(Current Period) applicable to A-2 Notes $0.00
Noteholders' Interest Carryover Shortfall
(Current Period) applicable to A-3 Notes $0.00
Noteholders' Interest Carryover Shortfall
(Current Period) applicable to A-4 Notes $0.00
Noteholders' Interest Carryover Shortfall
(Current Period) applicable to B Notes $0.00
Noteholders' Interest Carryover Shortfall
(Current Period) applicable to C Notes $0.00
A-1 Noteholders' Principal Carryover
Shortfall (Current Period) $0.00
A-2 Noteholders' Principal Carryover
Shortfall (Current Period) $0.00
A-3 Noteholders' Principal Carryover
Shortfall (Current Period) $0.00
A-4 Noteholders' Principal Carryover
Shortfall (Current Period) $0.00
B Noteholders' Principal Carryover
Shortfall (Current Period) $0.00
C Noteholders' Principal Carryover
Shortfall (Current Period) $0.00
Certificateholders' Interest Carryover
Shortfall (Ending Balance) $0.00
Certificateholders' Principal Carryover
Shortfall (Ending Balance) $0.00
A-1 Note Principal Balance (End of Period) $0.00
A-2 Note Principal Balance (End of Period) $9,437,584.98
A-3 Note Principal Balance (End of Period) $237,000,000.00
A-4 Note Principal Balance (End of Period) $188,591,000.00
B Note Principal Balance (End of Period) $52,256,862.33
C Note Principal Balance (End of Period) $20,942,199.95
Certificate Principal Balance (End of
Period) $15,190,000.00
Total Principal Balance of Notes and
Certificates (End of Period) $523,417,647.26
A-1 Note Pool Factor (End of Period) $90,000,000.00 0.0000000
A-2 Note Pool Factor (End of Period) $204,500,000.00 0.0461496
A-3 Note Pool Factor (End of Period) $237,000,000.00 1.0000000
A-4 Note Pool Factor (End of Period) $188,591,000.00 1.0000000
B Note Pool Factor (End of Period) $97,960,250.00 0.5334497
C Note Pool Factor (End of Period) $34,719,000.00 0.6031913
Certificate Pool Factor (End of Period) $15,190,000.00 1.0000000
Total Notes & Certificates Pool Factor
(End of Period) 0.6030433
Specified Spread Account Balance (after
all distributions and adjustments) $17,359,205.00
<PAGE>
CASE EQUIPMENT LOAN TRUST 1997-B
STATEMENT TO NOTEHOLDERS
$90,000,000 Class A-1 5.612% Asset Backed Notes due October 13, 1998
$204,500,000 Class A-2 5.914% Asset Backed Notes due September 15, 2000
$237,000,000 Class A-3 6.240% Asset Backed Notes due September 15, 2004
$188,591,000 Class A-4 6.410% Asset Backed Notes due September 15, 2004
$97,960,250 Class B Floating Rate Asset Backed Notes due September 15, 2004
$37,719,000 Class C 6.410% Asset Backed Notes due September 15, 2004
$15,190,000 6.410% Asset Backed Certificates due September 15, 2004
Payment Date: 16-Nov-98
(1) Amount of principal being paid on the Notes:
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00
(b) A-2 Notes: $27,023,105.64
per $1,000 original principal amount: $132.14
(c) A-3 Notes: $0.00
per $1,000 original principal amount: $0.00
(d) A-4 Notes: $0.00
per $1,000 original principal amount: $0.00
(e) B Notes: $2,578,162.05
per $1,000 original principal amount: $26.32
(f) C Notes: $1,233,407.99
per $1,000 original principal amount: $35.53
(g) Total $30,834,675.68
(2) Interest on the Notes
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00
(b) A-2 Notes: $191,669.80
per $1,000 original principal amount: $0.94
(c) A-3 Notes: $1,232,400.00
per $1,000 original principal amount: $5.20
(d) A-4 Notes: $1,007,390.26
per $1,000 original principal amount: $5.34
(e) B Notes: $273,375.26
per $1,000 original principal amount: $2.79
(f) C Notes: $118,454.71
per $1,000 original principal amount: $3.41
(g) Total $2,823,290.03
(3) Pool Balance at the end of the related Collection Period $523,546,101.71
(4) After giving effect to distributions on current Payment Date:
(a) (i) outstanding principal amount of A-1 Notes: $0.00
(ii) A-1 Note Pool Factor: 0.0000000
(b) (i) outstanding principal amount of A-2 Notes: $9,437,584.98
(ii) A-2 Note Pool Factor: 0.0461496
(c) (i) outstanding principal amount of A-3 Notes: $237,000,000.00
(ii) A-3 Note Pool Factor: 1.0000000
(d) (i) outstanding principal amount of A-4 Notes: $188,591,000.00
(ii) A-4 Note Pool Factor: 1.0000000
(e) (i) outstanding principal amount of B Notes: $52,256,862.33
(ii) B Note Pool Factor: 0.5334497
(f) (i) outstanding principal amount of C Notes: $20,942,199.95
(ii) C Note Pool Factor: 0.6031913
(g) (i) Certificate Balance $15,190,000.00
(ii) Certificate Pool Factor: 1.0000000
(5) Amount of Servicing Fee: $461,983.98
perp$1,0000BeginningaofPCollectionePeriod: 1.76057659
(6) Amount of Administration Fee: $166.67
perp$1,0000BeginningaofPCollectionePeriod: 0.00063515
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $21,295.13
(9) Amount in Spread Account: $17,359,205.00
(10) Amount in Pre-Funding Account: $0.00
(11) For the Final payment date with respect to the Funding Period, the NA
Remaining Pre-Funded Amount
(12) Amount in Negative Carry Account: $0.00
<PAGE>
CASE EQUIPMENT LOAN TRUST 1997-B
STATEMENT TO CERTIFICATEHOLDERS
$90,000,000 Class A-1 5.612% Asset Backed Notes due October 13, 1998
$204,500,000 Class A-2 5.914% Asset Backed Notes due September 15, 2000
$237,000,000 Class A-3 6.240% Asset Backed Notes due September 15, 2004
$188,591,000 Class A-4 6.410% Asset Backed Notes due September 15, 2004
$97,960,250 Class B Floating Rate Asset Backed Notes due September 15, 2004
$37,719,000 Class C 6.410% Asset Backed Notes due September 15, 2004
$15,190,000 6.410% Asset Backed Certificates due September 15, 2004
Payment Date: 16-Nov-98
(1) Amount of principal being paid or distributed:
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00
(b) A-2 Notes: $27,023,105.64
per $1,000 original principal amount: $132.14
(c) A-3 Notes: $0.00
per $1,000 original principal amount: $0.00
(d) A-4 Notes: $0.00
per $1,000 original principal amount: $0.00
(e) B Notes: $2,578,162.05
per $1,000 original principal amount: $26.32
(f) C Notes: $1,233,407.99
per $1,000 original principal amount: $35.53
(g) Certificates: $0.00
per $1,000 original principal amount: $0.00
(h) Total: $30,834,675.68
(2) Amount of interest being paid or distributed:
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00
(b) A-2 Notes: $191,669.80
per $1,000 original principal amount: $0.94
(c) A-3 Notes: $1,232,400.00
per $1,000 original principal amount: $5.20
(d) A-4 Notes: $1,007,390.26
per $1,000 original principal amount: $5.34
(e) B Notes: $273,375.26
per $1,000 original principal amount: $2.79
(f) C Notes: $118,454.71
per $1,000 original principal amount: $3.41
(g) Certificates: $81,139.92
per $1,000 original principal amount: $5.34
(h) Total: $2,631,054.69
(3) Pool Balance at end of related Collection Period: $523,546,101.71
(4) After giving effect to distributions on this Payment Date:
(a) (i) outstanding principal amount of A-1 Notes: $0.00
(ii) A-1 Note Pool Factor: 0.0000000
(b) (i) outstanding principal amount of A-2 Notes: $9,437,584.98
(ii) A-2 Note Pool Factor: 0.0461496
(c) (i) outstanding principal amount of A-3 Notes: $237,000,000.00
(ii) A-3 Note Pool Factor: 1.0000000
(d) (i) outstanding principal amount of A-4 Notes: $188,591,000.00
(ii) A-4 Note Pool Factor: 1.0000000
(e) (i) outstanding principal amount of B Notes: $52,256,862.33
(ii) B Note Pool Factor: 0.5334497
(f) (i) outstanding principal amount of C Notes: $20,942,199.95
(ii) C Note Pool Factor: 0.6031913
(g) (i) Certificate Balance $15,190,000.00
(ii) Certificate Pool Factor: 1.0000000
(5) Amount of Servicing Fee: $461,983.98
per $1,000 Beginning of Collection Period: 1.7605766
(6) Amount of Administration Fee: $166.67
per $1,000 Beginning of Collection Period: 0.0006352
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $21,295.13
(9) Amount in Spread Account: $17,359,205.00
(10) Amount in Pre-Funding Account: $0.00
(11) For the Final payment date with respect to the Funding Period, the NA
Remaining Pre-Funded Amount
(12) Amount in Negative Carry Account: $0.00
<PAGE>
CASE EQUIPMENT LOAN TRUST 1997-B
PAYMENT AND DEPOSIT INSTRUCTIONS TO INDENTURE TRUSTEE
$90,000,000 Class A-1 5.612% Asset Backed Notes due October 13, 1998
$204,500,000 Class A-2 5.914% Asset Backed Notes due September 15, 2000
$237,000,000 Class A-3 6.240% Asset Backed Notes due September 15, 2004
$188,591,000 Class A-4 6.410% Asset Backed Notes due September 15, 2004
$97,960,250 Class B Floating Rate Asset Backed Notes due September 15, 2004
$37,719,000 Class C 6.410% Asset Backed Notes due September 15, 2004
$15,190,000 6.410% Asset Backed Certificates due September 15, 2004
Payment Date: 16-Nov-98
(1) Payment of Administration Fee to Administrator: $166.67
(2) Offered Noteholders' Interest Distributable Amount
deposited into Note Distribution Account: $2,823,290.03
(3) Noteholders' Principal Distributable Amount to be
deposited into Noteholders' Distribution Account: $30,834,675.68
(4) Certificateholders' Interest Distributable Amount to be
deposited into Certificateholders' Distribution Account: $81,139.92
(5) Certificateholders' Principal Distributable Amount to be
deposited into Certificateholders' Distribution Account: $0.00
(6) Payment of Servicing Fee to Servicer: $461,983.98
(7) Release to Seller from Excess Collections over Distributions $596,357.49
Check for Error NO ERROR
Sum of Above Distributions $34,797,613.77
Total Distribution Amount plus Releases to Seller $34,797,613.77
<PAGE>
CASE EQUIPMENT LOAN TRUST 1997-B
SERVICER'S CERTIFICATE
$90,000,000 Class A-1 5.612% Asset Backed Notes due October 13, 1998
$204,500,000 Class A-2 5.914% Asset Backed Notes due September 15, 2000
$237,000,000 Class A-3 6.240% Asset Backed Notes due September 15, 2004
$188,591,000 Class A-4 6.410% Asset Backed Notes due September 15, 2004
$97,960,250 Class B Floating Rate Asset Backed Notes due September 15, 2004
$37,719,000 Class C 6.410% Asset Backed Notes due September 15, 2004
$15,190,000 6.410% Asset Backed Certificates due September 15, 2004
Payment Date: 16-Nov-98
(1) Total Distribution Amount: $34,797,613.77
(2) Administration Fee: $166.67
(3) Noteholders' Interest Distributable Amount applicable to A-1 Notes: $0.00
(4) Noteholders' Interest Carryover Shortfall applicable to A-1 Notes: $0.00
(5) Noteholders' Interest Distributable Amount applicable to A-2 Notes: $191,669.80
(6) Noteholders' Interest Carryover Shortfall applicable to A-2 Notes: $0.00
(7) Noteholders' Interest Distributable Amount applicable to A-3 Notes: $1,232,400.00
(8) Noteholders' Interest Carryover Shortfall applicable to A-3 Notes: $0.00
(9) Noteholders' Interest Distributable Amount applicable to A-4 Notes: $1,007,390.26
(10) Noteholders' Interest Carryover Shortfall applicable to A-4 Notes: $0.00
(11) Noteholders' Interest Distributable Amount applicable to B Notes: $273,375.26
(12) Noteholders' Interest Carryover Shortfall applicable to B Notes: $0.00
(13) Noteholders' Interest Distributable Amount applicable to C Notes: $118,454.71
(14) Noteholders' Interest Carryover Shortfall applicable to C Notes: $0.00
(15) Offered Noteholders' Interest Distributable Amount' $2,823,290.03
deposited into Note Distribution Account:
(16) A-1 Noteholders' Monthly Principal Distributable Amount: $0.00
(17) % of Fixed Rate Principal Distribution Amount applicable to A-1 Noteholders 0.00%
(18) A-1 Noteholders' Principal Carryover Shortfall: $0.00
(19) A-1 Noteholders' Principal Distributable Amount: $0.00
(20) A-2 Noteholders' Monthly Principal Distributable Amount: $27,023,105.64
(21) % of Fixed Rate Principal Distribution Amount applicable to A-2 Noteholders 95.63%
(22) A-2 Noteholders' Principal Carryover Shortfall: $0.00
(23) A-2 Noteholders' Principal Distributable Amount: $27,023,105.64
(24) A-3 Noteholders' Monthly Principal Distributable Amount: $0.00
(25) % of Fixed Rate Principal Distribution Amount applicable to A-3 Noteholders 0.00%
(26) A-3 Noteholders' Principal Carryover Shortfall: $0.00
(27) A-3 Noteholders' Principal Distributable Amount: $0.00
(28) A-4 Noteholders' Monthly Principal Distributable Amount: $0.00
(29) % of Fixed Rate Principal Distribution Amount applicable to A-4 Noteholders 0.00%
(30) A-4 Noteholders' Principal Carryover Shortfall: $0.00
(31) A-4 Noteholders' Principal Distributable Amount: $0.00
(32) B Noteholders' Monthly Principal Distributable Amount: $2,578,162.05
(33) % of Floating Rate Principal Distribution Amount applicable to B Noteholders 100.00%
(34) B Noteholders' Principal Carryover Shortfall: $0.00
(35) B Noteholders' Principal Distributable Amount: $2,578,162.05
(36) C Noteholders' Monthly Principal Distributable Amount: $1,233,407.99
(37) % of Fixed Rate & Floating Rate Principal Distribution Amount applicable to C Noteholders 4.00%
(38) C Noteholders' Principal Carryover Shortfall: $0.00
(39) C Noteholders' Principal Distributable Amount: $1,233,407.99
(40) Noteholders' Principal Distribution Amount: $30,834,675.68
(41) Noteholders' Distributable Amount: $33,657,965.71
(42) Deposit to Spread Account (from excess collections): $1,139,481.39
(43) Specified Spread Account Balance (after all distributions and adjustments) : $17,359,205.00
The Lesser of:
(a) 2.00% of the Initial Pool Balance $17,359,205.00
(b) the Note Balance $508,227,647.26
(44) Spread Account Balance over the Specified Spread Account Balance: $1,139,481.39
(45) Class B Net Funds Cap Carryover Amount paid from Excess $0.00
<PAGE>
(46) Ending Class B Net Funds Cap Carryover Amount $0.00
(47) Certificateholders' Interest Distributable Amount: $81,139.92
(48) Certificateholders' Interest Carryover Shortfall: $0.00
(49) % of Fixed Rate & Floating Rate Principal Distribution Amount applicable to Certificat holders 0.00%
(50) Certificateholders' Principal Distributable Amount applicable to current period $0.00
(51) Certificateholders' Principal Carryover Shortfall: $0.00
(52) Certificateholders' Principal Distributable Amount: $0.00
(53) Certificateholders' Distributable Amount: $81,139.92
(54) Servicing Fee: $461,983.98
(55) Excess Amounts Distributed To Seller:
(a) Release of Remaining Fixed and Floating Rate Excess Distributions $596,357.49
(b) Release of Excess Amount in Negative Carry Account $0.00
(56) Amount to be withdrawn from the Spread Account and deposited
into the Note Distribution Account $0.00
(57) Pool Balance as of the opening of business on the first day of
the Collection Period in which the Payment Date occurs: $554,380,777.39
(58) After giving effect to all distributions on such Payment Date:
Outstanding Principal Balance of A-1 Notes: $0.00
A-1 Note Pool Factor: 0.0000000
Outstanding Principal Balance of A-2 Notes: $9,437,584.98
A-2 Note Pool Factor: 0.0461496
Outstanding Principal Balance of A-3 Notes: $237,000,000.00
A-3 Note Pool Factor: 1.0000000
Outstanding Principal Balance of A-4 Notes: $188,591,000.00
A-4 Note Pool Factor: 1.0000000
Outstanding Principal Balance of B Notes: $52,256,862.33
B Note Pool Factor: 0.5334497
Outstanding Principal Balance of C Notes: $20,942,199.95
C Note Pool Factor: 0.6031913
Outstanding Principal Balance of the Certificates: $15,190,000.00
Certificate Pool Factor: 1.0000000
(59) Aggregate Purchase Amounts for related Collection Period: $0.00
(60) Aggregate Amount of Realized Losses for the related Collection Period: $21,295.13
(61) Spread Account Balance after giving effect to all distributions: $17,359,205.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CASE EQUIPMENT LOAN TRUST 1998-A
$72,113,000 Class A-1 5.545% Asset Backed Notes due March 15, 1999
$190,750,000 Class A-2 5.592% Asset Backed Notes due July 16, 2001
$145,750,000 Class A-3 5.740% Asset Backed Notes due August 15, 2002
$180,449,000 Class A-4 5.830% Asset Backed Notes due February 15,2005 NPV Data Input Section
$25,000,000 Class B 5.940% Asset Backed Notes due February 15, 2005 Scheduled cash flows as of the indicated cutoff date
$10,938,000 5.940% Asset Backed Certificates due February 15, 2005 Row 0 is total delinquent amount valued without discounting
<S><C>
Prepared by Shawn Ostrowski (414) 636-5284
05-Nov-98 05-Nov-98 05-Nov-98 05-Nov-98 05-Nov-98
-------------- ------------ ------------ ------------ ----------
Pool 1 Pool 2 Pool 3 Pool 4 Pool 5
0 3,122,775.64 1,008,234.52 806,692.97 561,292.97 3,454.84
1 17,601,924.77 2,228,041.58 2,648,590.93 1,277,540.98 17,807.09
2 20,266,671.97 3,758,862.25 2,766,251.57 1,532,672.68 31,844.83
3 7,093,218.39 7,573,773.60 2,292,789.37 1,097,806.51 29,548.48
4 3,783,423.43 4,367,302.20 7,803,606.51 1,318,787.65 15,763.69
5 3,318,671.40 1,468,598.83 5,224,445.18 4,052,694.40 36,107.16
6 3,136,447.55 1,478,915.99 1,558,530.39 2,505,368.54 75,852.17
7 3,160,131.45 1,328,154.40 1,491,938.25 1,007,365.95 17,697.34
8 3,564,417.66 1,431,427.61 1,571,199.84 984,366.24 4,194.05
9 3,858,648.78 1,636,987.58 1,749,355.51 1,031,130.58 29,548.48
10 5,232,503.64 1,829,174.30 2,074,579.08 1,160,095.76 31,844.83
11 3,838,549.41 1,399,070.98 1,681,967.50 1,172,449.80 15,763.69
12 4,543,566.51 1,660,809.29 1,594,424.34 1,041,706.28 36,413.95
13 17,330,547.20 2,132,505.01 2,543,416.99 1,205,137.98 17,807.09
14 19,643,289.10 3,716,296.27 2,698,637.15 1,358,744.03 31,844.83
15 7,066,968.53 7,425,046.57 2,249,652.68 1,059,966.75 29,548.48
16 3,407,171.94 4,228,934.86 7,658,576.18 1,279,946.01 15,763.69
17 2,979,997.70 1,496,690.66 5,066,109.51 3,948,873.52 36,107.16
18 2,873,497.23 1,343,623.77 1,409,079.58 2,458,797.52 47,489.16
19 2,874,334.96 1,191,559.13 1,347,190.31 968,508.89 17,697.34
20 3,189,967.91 1,303,463.17 1,397,758.51 944,617.69 4,194.05
21 3,547,127.32 1,518,560.92 1,567,223.40 980,586.47 29,548.48
22 4,742,163.78 1,676,382.39 1,900,923.46 1,120,585.71 31,844.83
23 3,500,280.40 1,240,007.80 1,513,801.97 1,096,907.79 15,763.69
24 4,173,004.70 1,515,583.38 1,432,825.00 978,264.69 36,413.95
25 16,558,940.98 1,954,180.81 2,338,562.88 1,123,546.43 17,807.09
26 18,560,354.73 3,532,644.17 2,478,051.20 1,285,053.07 31,844.83
27 6,110,624.38 7,013,116.78 2,076,362.45 1,017,620.98 29,548.48
28 2,670,726.95 3,896,155.89 7,392,926.19 1,213,948.03 15,763.69
29 2,267,345.93 1,052,879.85 4,625,070.00 3,766,345.81 36,107.16
30 2,142,131.62 1,019,123.00 1,117,004.47 2,268,504.93 39,902.17
31 2,101,776.17 875,648.72 1,007,212.61 776,158.89 14,618.07
32 2,298,456.85 983,430.42 1,033,563.00 759,886.25 4,194.05
33 2,744,838.08 1,163,066.78 1,178,313.04 806,084.18 29,548.48
34 3,782,855.39 1,231,372.28 1,372,497.43 931,024.64 31,844.83
35 2,654,595.73 894,626.82 1,109,452.36 892,370.82 15,763.69
36 3,209,765.32 1,154,557.70 1,026,925.48 786,065.03 36,413.95
37 14,096,573.85 1,377,506.23 1,776,738.96 881,310.44 15,763.69
38 14,480,450.83 2,984,467.97 1,807,508.14 1,039,465.91 31,844.83
39 4,338,477.86 4,982,777.29 1,570,595.39 842,428.31 29,548.48
40 1,434,663.72 2,649,568.89 5,056,000.72 1,044,122.19 15,763.69
41 1,043,079.20 501,207.92 3,022,972.47 3,151,117.53 36,107.16
42 924,060.42 380,884.65 679,598.14 1,542,952.16 36,400.10
43 881,334.09 334,453.57 365,782.61 288,441.72 14,013.10
44 1,041,711.48 356,960.30 400,322.23 244,063.02 3,589.08
45 1,239,710.48 515,283.91 547,839.48 307,934.14 28,943.51
46 2,237,394.53 599,219.20 563,146.13 392,564.21 15,158.72
47 1,448,037.30 355,373.79 426,017.56 322,186.20 15,158.72
48 1,872,324.12 536,569.78 389,150.79 273,708.46 35,808.98
49 10,822,160.72 607,660.91 772,190.07 311,650.19 15,158.72
50 11,206,749.74 2,169,895.20 1,077,523.71 478,600.02 15,158.72
51 2,775,281.07 3,360,921.04 1,011,904.03 297,638.52 28,943.51
52 401,515.91 1,363,448.80 3,670,194.20 522,611.10 15,158.72
53 206,667.51 166,033.22 1,719,494.21 1,878,605.14 35,502.19
54 88,543.79 56,229.44 117,032.49 749,815.55 35,808.98
55 21,078.16 8,922.70 103,879.14 80,674.31 24,208.81
56 33,148.80 20,459.18 63,079.26 2,190.77 0.00
57 150,184.51 68,999.39 22,211.70 19,828.82 0.00
58 120,657.01 32,189.86 31,394.35 65,419.72 0.00
59 135,835.91 7,144.08 17,979.75 21,738.25 0.00
60 159,188.60 31,367.97 0.00 20,654.60 0.00
61 457,841.08 64,233.80 56,987.58 1,253.18 0.00
62 261,767.33 463,240.88 23,920.99 13,253.17 0.00
63 0.00 190,529.57 38,491.14 1,253.18 0.00
64 0.00 0.00 139,928.13 93,127.58 0.00
65 0.00 0.00 0.00 146,039.51 0.00
66 0.00 0.00 0.00 0.00 0.00
67 0.00 0.00 0.00 0.00 0.00
68 0.00 0.00 0.00 0.00 0.00
69 0.00 0.00 0.00 0.00 0.00
70 0.00 0.00 0.00 0.00 0.00
71 0.00 0.00 0.00 0.00 0.00
72 0.00 0.00 0.00 0.00 0.00
73 0.00 0.00 0.00 0.00 0.00
Total Time Balance
of Scheduled Cash Flows 294,830,151.52 108,914,359.82 116,277,390.66 66,805,472.35 1,411,259.55
<PAGE>
CASE EQUIPMENT LOAN TRUST 1998-A
$72,113,000 Class A-1 5.545% Asset Backed Notes due March 15, 1999
$190,750,000 Class A-2 5.592% Asset Backed Notes due July 16, 2001
$145,750,000 Class A-3 5.740% Asset Backed Notes due August 15, 2002
$180,449,000 Class A-4 5.830% Asset Backed Notes due February 15, 2005
$25,000,000 Class B 5.940% Asset Backed Notes due February 15, 2005
$10,938,000 5.940% Asset Backed Certificates due February 15, 2005
Prepared by Shawn Ostrowski (414) 636-5284 11/8/98
Scheduled Payment Date 15-Nov-98
Actual Payment Date 16-Nov-98
Collection Period Begin Date 06-Oct-98
Collection Period End Date 31-Jan-98 05-Nov-98
Days in accrual period (30/360) 30
Days in accrual period (ACT/360) 32
PART I -- MONTHLY DATA INPUT
Receipts During the Period $18,766,180.31
Warranty Repurchases
Contracts deferred beyond Final Scheduled Maturity Date $0.00
Government obligors $0.00
Total Warranty Repurchases $0.00
Total Collections For The Period $18,766,180.31
Pool Balance (Beg. of Collection Period) $517,740,169.23
Pool Balance (End of Collection Period) $502,789,604.60
Total Collection $18,766,180.31
Negative Carry Withdrawls $0.00
Reinvestment Income (including Pre-Funding Account and Spread Account) $122,632.73
Pre-Funding Account Reinvestment Income $0.00
Total Distribution Amount $18,888,813.04
MISCELLANEOUS DATA
TOTAL COLLATERAL
Scheduled Amounts 30 - 59 days past due $1,643,068.23
Scheduled Amounts 60 days or more past due $504,802.35
Net Losses on Liquidated Receivables $4,977.09
Number of Loans at Beginning of Period 15,048
Number of Loans at End of Period 14,823
Repossessed Equipment not Sold or Reassigned (Beginning) $0.00
Repossessed Equipment not Sold or Reassigned (End) $0.00
Pre-Funding Account Reinvestment Income $0.00
<PAGE>
CASE EQUIPMENT LOAN TRUST 1998-A
$72,113,000 Class A-1 5.545% Asset Backed Notes due March 15, 1999
$190,750,000 Class A-2 5.592% Asset Backed Notes due July 16, 2001
$145,750,000 Class A-3 5.740% Asset Backed Notes due August 15, 2002
$180,449,000 Class A-4 5.830% Asset Backed Notes due February 15, 2005
$25,000,000 Class B 5.940% Asset Backed Notes due February 15, 2005
$10,938,000 5.940% Asset Backed Certificates due February 15, 2005
Actual Payment Date 16-Nov-98
Collection Period Begin Date 06-Oct-98
Collection Period End Date 05-Nov-98
PART II -- SUMMARY
Total Principal Balance of Notes and Certificates (Beginning of Period) $517,740,169.23
A-1 Note Beginning Principal Balance $0.00
A-2 Note Beginning Principal Balance $159,893,562.46
A-3 Note Beginning Principal Balance $145,750,000.00
A-4 Note Beginning Principal Balance $180,449,000.00
B Note Beginning Principal Balance $20,709,606.77
Certificate Beginning Principal Balance $10,938,000.00
Total Principal Balance of Notes and Certificates (End of Period) $502,789,604.60
A-1 Note Principal Balance (End of Period) $0.00
A-1 Note Pool Factor (End of Period) 0.0000000
A-2 Note Principal Balance (End of Period) $145,541,020.42
A-2 Note Pool Factor (End of Period) 0.7629936
A-3 Note Principal Balance (End of Period) $145,750,000.00
A-3 Note Pool Factor (End of Period) 1.0000000
A-4 Note Principal Balance (End of Period) $180,449,000.00
A-4 Note Pool Factor (End of Period) 1.0000000
B Note Principal Balance (End of Period) $20,111,584.18
B Note Pool Factor (End of Period) 0.8044634
Certificate Principal Balance (End of Period) $10,938,000.00
Certificate Pool Factor (End of Period) 1.0000000
COLLATERAL VALUE DECLINE $14,950,564.63
Pool Balance (Beg. of Collection Period) $517,740,169.23
Pool Balance (End of Collection Period) $502,789,604.60
Total Distribution Amount (TDA) $18,888,813.04
Total Collections and Investment Income for the Period $18,888,813.04
Negative Carry Withdrawls $0.00
Principal Distribution Amount (PDA) $14,950,564.63
Principal Allocation to Notes and Certificates $14,950,564.63
A-1 Noteholders' Principal Distributable Amount $0.00
A-2 Noteholders' Principal Distributable Amount $14,352,542.04
A-3 Noteholders' Principal Distributable Amount $0.00
A-4 Noteholders' Principal Distributable Amount $0.00
B Noteholders' Principal Distributable Amount $598,022.59
Certificateholders' Principal Distributable Amount $0.00
Interest Distributable Amount $2,525,285.47
Noteholders' Interest Distributable Amount applicable to A-1 Notes $0.00
Noteholders' Interest Distributable Amount applicable to A-2 Notes $794,777.60
Noteholders' Interest Distributable Amount applicable to A-3 Notes $697,170.83
Noteholders' Interest Distributable Amount applicable to A-4 Notes $876,681.39
Noteholders' Interest Distributable Amount applicable to B Notes $102,512.55
Certificateholders' Interest Distributable Amount $54,143.10
Spread Account
Beginning Spread Account Balance $12,499,977.37
Deposit to Spread Account from Pre-Funding Account $0.00
Deposit to Spread Account from Excess Collections over Distributions $1,466,939.37
Distribution from Spread Account for Interest / Principal Shortfall $0.00
Specified Spread Account Balance $12,499,977.37
Ending Spread Account Balance (after distributions) $12,499,977.37
Credit Enhancement 2.49%
Spread account % of Ending Pool Balance 2.49%
Overcollateralization % of Ending Pool Balance 0.00%
Scheduled Amounts 30 - 59 days past due $1,643,068.23
as % of Ending Pool Balance 0.33%
Scheduled Amounts 60 days or more past due $504,802.35
as % of Ending Pool Balance 0.10%
Net Losses on Liquidated Receivables $4,977.09
as % of Ending Pool Balance 0.00%
<PAGE>
PART III -- SERVICING CALCULATIONS 16-Nov-98
1. SOURCES AND USES OF COLLECTION ACCOUNT BALANCE Pool 1 Pool 2 Pool 3 Pool 4 Pool 5
Wtd. Avg. APR 8.758% 8.597% 8.491% 9.174% 9.428%
Contract Value (Beg. of Collection Period), by
origination pool $260,758,846.79 $95,610,775.45 $102,148,252.02 $58,044,674.52 $1,177,620.45
Contract Value (End of Collection Period), by
origination pool $252,279,866.74 $93,413,833.91 $99,687,305.30 $56,256,437.33 $1,152,161.32
Contract Value Decline $8,478,980.05 $2,196,941.54 $2,460,946.72 $1,788,237.19 $25,459.13
3.25% 2.30% 2.41% 3.08% 2.16%
Initial Pool Balance $624,998,868.47
Pool Balance (End of Collection Period) $502,789,604.60
Collections and Investment Income for the period $18,888,813.04
Negative Carry Withdrawls $0.00
Total Distribution Amount (TDA) $18,888,813.04
Principal Distribution Amount (PDA) $14,950,564.63
Initial B Percentage 4.000%
Unscheduled Principal (per pool) $2,755,476.47 $309,783.58 $615,803.54 $600,557.56
Total Unscheduled Principal $4,281,621.15
2. CALCULATION OF DISTRIBUTABLE AMOUNTS
A-1 Note Beginning Principal Balance $0.00
A-1 Noteholders' Principal Carryover Shortfall
(Previous Period) $0.00
A-1 Noteholders' Share of the Principal Distribution
Amount 0.00%
Preliminary A-1 Noteholders' Principa; Distributable
Amount $0.00
One-Time Excess Prefunding Account Payment $0.00
A-1 Noteholders' Principal Distributable Amount $0.00
Principal Distribution Amount Remaining $14,950,564.63
A-2 Note Beginning Principal Balance $159,893,562.46
A-2 Noteholders' Principal Carryover Shortfall
(Previous Period) $0.00
A-2 Noteholders' Share of the Principal Distribution
Amount 96.00%
A-2 Noteholders' Principal Distributable Amount $14,352,542.04
Principal Distribution Amount Remaining $598,022.59
A-3 Note Beginning Principal Balance $145,750,000.00
A-3 Noteholders' Principal Carryover Shortfall
(Previous Period) $0.00
A-3 Noteholders' Share of the Principal Distribution
Amount 0.00%
A-3 Noteholders' Principal Distributable Amount $0.00
Principal Distribution Amount Remaining $598,022.59
A-4 Note Beginning Principal Balance $180,449,000.00
A-4 Noteholders' Principal Carryover Shortfall
(Previous Period) $0.00
A-4 Noteholders' Share of the Principal Distribution
Amount 0.00%
A-4 Noteholders' Principal Distributable Amount $0.00
Principal Distribution Amount Remaining $598,022.59
B Note Beginning Principal Balance $20,709,606.77
B Noteholders' Principal Carryover Shortfall
(Previous Period) $0.00
B Noteholders' Share of the Principal Distribution
Amount 4.00%
B Noteholders' Principal Distributable Amount $598,022.59
Principal Distribution Amount Remaining $0.00
Certificate Beginning Principal Balance $10,938,000.00
Certificateholders' Principal Carryover Shortfall
(Previous Period) $0.00
Certificateholders' Share of the Principal
Distribution Amount 0.00%
Certificateholders' Principal Distributable Amount $0.00
Interest Accrued on Class A-1 Notes this period $0.00
Noteholders' Interest Carryover Shortfall (Previous
Period) applicable to A-1 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount applicable
to A-1 Notes $0.00
Interest Accrued on Class A-2 Notes this period $794,777.60
Noteholders' Interest Carryover Shortfall (Previous
Period) applicable to A-2 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount applicable
to A-2 Notes $794,777.60
Interest Accrued on Class A-3 Notes this period $697,170.83
Noteholders' Interest Carryover Shortfall (Previous
Period) applicable to A-3 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount applicable
to A-3 Notes $697,170.83
Interest Accrued on Class A-4 Notes this period $876,681.39
Noteholders' Interest Carryover Shortfall (Previous
Period) applicable to A-4 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount applicable
to A-4 Notes $876,681.39
Interest Accrued on Class A-1, A-2, A-3 and A-4 Notes
this period $2,368,629.82
Offered Noteholders' Interest Carryover Shortfall
(Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Offered Noteholders' Interest Distributable Amount $2,368,629.82
<PAGE>
Interest Accrued on Class B Notes this period $102,512.55
Noteholders' Interest Carryover Shortfall (Previous Period) applicable to B Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount applicable to B Notes $102,512.55
Interest Accrued on Certificates this period $54,143.10
Certificateholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on Above Shortfall $0.00
Certificateholders' Interest Distributable Amount $54,143.10
3. ALLOCATION OF DISTRIBUTION AMOUNTS
a. Total Distribution Amount (TDA) $18,888,813.04
Administration Fee Shortfall (Previous Period) $0.00
Administration Fee Accrued during this Period $166.67
Administration Fee Paid this Period from TDA $166.67
Administration Fee Shortfall $0.00
Total Distribution Amount Remaining $18,888,646.37
Noteholders' Interest Carryover Shortfall (Previous Period) applicable to A-1 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class A-1 Notes this period $0.00
Noteholders' Interest applicable to A-1 Notes Paid this Period from TDA $0.00
Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-1 Notes $0.00
Noteholders' Interest Carryover Shortfall (Previous Period) applicable to A-2 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class A-2 Notes this period $794,777.60
Noteholders' Interest applicable to A-2 Notes Paid this Period from TDA $794,777.60
Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-2 Notes $0.00
Noteholders' Interest Carryover Shortfall (Previous Period) applicable to A-3 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class A-3 Notes this period $697,170.83
Noteholders' Interest applicable to A-3 Notes Paid this Period from TDA $697,170.83
Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-3 Notes $0.00
Noteholders' Interest Carryover Shortfall (Previous Period) applicable to A-4 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class A-4 Notes this period $876,681.39
Noteholders' Interest applicable to A-4 Notes Paid this Period from TDA $876,681.39
Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-4 Notes $0.00
Offered Noteholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class A-1, A-2, A-3 and A-4 Notes this period $2,368,629.82
Offered Noteholders' Interest Paid this Period from TDA $2,368,629.82
Preliminary A Noteholders' Interest Carryover Shortfall (Current Period) $0.00
Total A Noteholders' Principal Carryover Shortfall $0.00
Total Distribution Amount Remaining $16,520,016.55
Noteholders' Interest Carryover Shortfall (Previous Period) applicable to B Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on B Notes this period $102,512.55
Noteholders' Interest applicable to B Notes Paid this Period from TDA $102,512.55
Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to B Notes $0.00
Total Distribution Amount Remaining $16,417,504.00
A-1 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-1 Noteholders' Monthly Principal Distributable Amount $0.00
A-1 Noteholders' Principal Distributable Amount Paid from TDA $0.00
Preliminary A-1 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $16,417,504.00
A-2 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-2 Noteholders' Monthly Principal Distributable Amount $14,352,542.04
A-2 Noteholders' Principal Distributable Amount Paid from TDA $14,352,542.04
Preliminary A-2 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $2,064,961.96
A-3 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-3 Noteholders' Monthly Principal Distributable Amount $0.00
A-3 Noteholders' Principal Distributable Amount Paid from TDA $0.00
Preliminary A-3 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $2,064,961.96
A-4 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-4 Noteholders' Monthly Principal Distributable Amount $0.00
A-4 Noteholders' Principal Distributable Amount Paid from TDA $0.00
Preliminary A-4 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $2,064,961.96
<PAGE>
B Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
B Noteholders' Monthly Principal Distributable Amount $598,022.59
B Noteholders' Principal Distributable Amount Paid from TDA $598,022.59
Preliminary B Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Excess Distribution Amount Remaining $1,466,939.37
4. RECONCILIATION OF PRE-FUNDING ACCOUNT
Beginning Pre-Funding Account Balance $0.00
New Collateral Purchased $0.00
Deposit to Spread Account $0.00
Payment to Seller $0.00
Payment to Class A-1 after Funding is Complete $0.00
Ending Pre-Funding Account Balance $0.00
Excess Pre-Funded Amount/(Payment to Sellers) $0.00
Adjusted Ending Pre-Funding Account Balance $0.00
5. RECONCILIATION OF NEGATIVE CARRY ACCOUNT
Beginning Negative Carry Account Balance $0.00
Negative Carry 3.209816%
Number of Days Remaining 0 days
Pre-Funded Percentage 0.000%
Negative Carry Withdrawls $0.00
Cumulative Negative Carry Withdrawls $4,595,626.41
Maximum Negative Carry Amount $0.00
Required Negative Carry Account Balance $0.00
Interim Ending Negative Carry Account Balance $0.00
Negative Carry Amount Released to Seller $0.00
Ending Negative Carry Account Balance $0.00
6. DISTRIBUTIONS FROM SPREAD ACCOUNT
Beginning Spread Account Balance $12,499,977.37
Deposit to Spread Account from Pre-Funding Account $0.00
Deposit to Spread Account from Excess Collections over Distributions $1,466,939.37
Distribution from Spread Account to Noteholders' Distr. Account $0.00
Adj to Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-1 Notes $0.00
Adj to Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-2 Notes $0.00
Adj to Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-3 Notes $0.00
Adj to Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-4 Notes $0.00
Adj to Preliminary A-1 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Adj to Preliminary A-2 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Adj to Preliminary A-3 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Adj to Preliminary A-4 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Adj to Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to B Notes $0.00
Adj to Preliminary B Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Preliminary Spread Account Balance Remaining $13,966,916.74
Cumulative Realized Losses since 31-January-98 (Cut-off Date) $45,438.64
Are Cum. Realized Losses > 2.25% of Initial Pool Balance?
12*(Realized Losses during Collection Period + Repos at end of Collection Period) $59,725.08
Is 12*Realized Losses + Unliq. Repos > 1.65% of Beg. Pool Balance?
60 day or > Delinquent Scheduled Amounts $504,802.35
Are 60 day or > Delinquencies > 2.25% of Ending Pool Balance?
Are any of the three conditions "YES"?
Preliminary A-1 Note Principal Balance (End of Period) $0.00
Preliminary A-2 Note Principal Balance (End of Period) $145,541,020.42
Preliminary A-3 Note Principal Balance (End of Period) $145,750,000.00
Preliminary A-4 Note Principal Balance (End of Period) $180,449,000.00
Preliminary B Note Principal Balance (End of Period) $20,111,584.18
Preliminary Total Principal Balance of Notes (End of Period) $491,851,604.60
Specified Spread Account Balance 12,499,977.37
Lesser of:
(a) 2.00% of the Initial Pool Balance 12,499,977.37
(b) the Note Balance 491,851,604.60
<PAGE>
Preliminary Spread Account Balance Remaining $13,966,916.74
Preliminary Excess Amount in Spread Account $1,466,939.37
Preliminary Shortfall Amount in Spread Account $0.00
Deposit to Spread Account from Remaing Excess Distribution $0.00
Spread Account Excess $1,466,939.37
Ending Spread Account Balance (after distributions) $12,499,977.37
Net Change in Spread Account Balance $0.00
Total Excess Distribution Amount Remaining $1,466,939.37
Certificateholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on Above Shortfall $0.00
Interest Accrued on Certificates this period $54,143.10
Certificateholders' Interest Paid from Excess Distribution $54,143.10
Preliminary Certificateholders' Interest Carryover Shortfall (Current Period) $0.00
Total Excess Distribution Amount Remaining $1,412,796.27
Certificateholders' Principal Carryover Shortfall (Previous Period) $0.00
Certificateholders' Principal Distributable Amount applicable to current period $0.00
Certificateholders' Principal Distributable Amount Paid from Fixed and Floating Rate Excess Distrbution $0.00
Preliminary Certificateholders' Principal Carryover Shortfall (Current Period) $0.00
Total Excess Distribution Amount Remaining $1,412,796.27
Servicing Fee Shortfall (Previous Period) $0.00
Servicing Fees Accrued during this Period $431,450.14
Adjustment to Servicing Fee $0.00
Adjustment to Excess Distribution Amount Remaining $0.00
Servicing Fees Paid this Period from Excess Distribution $431,450.14
Servicing Fee Shortfall $0.00
Total Excess Distribution Amount Remaining $981,346.13
7. ENDING BALANCES
Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-1 Notes $0.00
Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-2 Notes $0.00
Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-3 Notes $0.00
Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-4 Notes $0.00
Noteholders' Interest Carryover Shortfall (Current Period) applicable to B Notes $0.00
A-1 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
A-2 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
A-3 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
A-4 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
B Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Certificateholders' Interest Carryover Shortfall (Ending Balance) $0.00
Certificateholders' Principal Carryover Shortfall (Ending Balance) $0.00
A-1 Note Principal Balance (End of Period) $0.00
A-2 Note Principal Balance (End of Period) $145,541,020.42
A-3 Note Principal Balance (End of Period) $145,750,000.00
A-4 Note Principal Balance (End of Period) $180,449,000.00
B Note Principal Balance (End of Period) $20,111,584.18
Certificate Principal Balance (End of Period) $10,938,000.00
Total Principal Balance of Notes and Certificates (End of Period) $502,789,604.60
A-1 Note Pool Factor (End of Period) 0.0000000
A-2 Note Pool Factor (End of Period) 0.7629936
A-3 Note Pool Factor (End of Period) 1.0000000
A-4 Note Pool Factor (End of Period) 1.0000000
B Note Pool Factor (End of Period) 0.8044634
Certificate Pool Factor (End of Period) 1.0000000
Total Notes & Certificates Pool Factor (End of Period) 0.8044634
Specified Spread Account Balance (after all distributions and adjustments) $12,499,977.37
<PAGE>
CASE EQUIPMENT LOAN TRUST 1998-A
STATEMENT TO NOTEHOLDERS
$72,113,000 Class A-1 5.545% Asset Backed Notes due March 15, 1999
$190,750,000 Class A-2 5.592% Asset Backed Notes due July 16, 2001
$145,750,000 Class A-3 5.740% Asset Backed Notes due August 15, 2002
$180,449,000 Class A-4 5.830% Asset Backed Notes due February 15, 2005
$25,000,000 Class B 5.940% Asset Backed Notes due February 15, 2005
$10,938,000 5.940% Asset Backed Certificates due February 15, 2005
Payment Date: 16-Nov-98
(1) Amount of principal being paid on the Notes:
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00
(b) A-2 Notes: $14,352,542.04
per $1,000 original principal amount: $75.24
(c) A-3 Notes: $0.00
per $1,000 original principal amount: $0.00
(d) A-4 Notes: $0.00
per $1,000 original principal amount: $0.00
(e) B Notes: $598,022.59
per $1,000 original principal amount: $23.92
(f) Total $14,950,564.63
(2) Interest on the Notes
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00
(b) A-2 Notes: $794,777.60
per $1,000 original principal amount: $4.17
(c) A-3 Notes: $697,170.83
per $1,000 original principal amount: $4.78
(d) A-4 Notes: $876,681.39
per $1,000 original principal amount: $4.86
(e) B Notes: $102,512.55
per $1,000 original principal amount: $4.10
(f) Total $2,471,142.37
(3) Pool Balance at the end of the related Collection Period $502,789,604.60
(4) After giving effect to distributions on current Payment Date:
(a) (i) outstanding principal amount of A-1 Notes: $0.00
(ii) A-1 Note Pool Factor: 0.0000000
(b) (i) outstanding principal amount of A-2 Notes: $145,541,020.42
(ii) A-2 Note Pool Factor: 0.7629936
(c) (i) outstanding principal amount of A-3 Notes: $145,750,000.00
(ii) A-3 Note Pool Factor: 1.0000000
(d) (i) outstanding principal amount of A-4 Notes: $180,449,000.00
(ii) A-4 Note Pool Factor: 1.0000000
(e) (i) outstanding principal amount of B Notes: $20,111,584.18
(ii) B Note Pool Factor: 0.8044634
(f) (i) Certificate Balance $10,938,000.00
(ii) Certificate Pool Factor: 1.0000000
(5) Amount of Servicing Fee: $431,450.14
per $1,000 Beginning of Collection Period: 1.65459445
(6) Amount of Administration Fee: $166.67
per $1,000 Beginning of Collection Period: 0.00063916
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $4,977.09
(9) Amount in Spread Account: $12,499,977.37
(10) Amount in Pre-Funding Account: $0.00
(11) For the Final payment date with respect to the Funding Period, the NA
Remaining Pre-Funded Amount
(12) Amount in Negative Carry Account: $0.00
<PAGE>
CASE EQUIPMENT LOAN TRUST 1998-A
STATEMENT TO CERTIFICATEHOLDERS
$72,113,000 Class A-1 5.545% Asset Backed Notes due March 15, 1999
$190,750,000 Class A-2 5.592% Asset Backed Notes due July 16, 2001
$145,750,000 Class A-3 5.740% Asset Backed Notes due August 15, 2002
$180,449,000 Class A-4 5.830% Asset Backed Notes due February 15, 2005
$25,000,000 Class B 5.940% Asset Backed Notes due February 15, 2005
$10,938,000 5.940% Asset Backed Certificates due February 15, 2005
Payment Date: 16-Nov-98
(1) Amount of principal being paid or distributed:
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00
(b) A-2 Notes: $14,352,542.04
per $1,000 original principal amount: $75.24
(c) A-3 Notes: $0.00
per $1,000 original principal amount: $0.00
(d) A-4 Notes: $0.00
per $1,000 original principal amount: $0.00
(e) B Notes: $598,022.59
per $1,000 original principal amount: $23.92
(f) Certificates: $0.00
per $1,000 original principal amount: $0.00
(g) Total: $14,950,564.63
(2) Amount of interest being paid or distributed:
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00
(b) A-2 Notes: $794,777.60
per $1,000 original principal amount: $4.17
(c) A-3 Notes: $697,170.83
per $1,000 original principal amount: $4.78
(d) A-4 Notes: $876,681.39
per $1,000 original principal amount: $4.86
(e) B Notes: $102,512.55
per $1,000 original principal amount: $4.10
(f) Certificates: $54,143.10
per $1,000 original principal amount: $4.95
(g) Total: $2,525,285.47
(3) Pool Balance at end of related Collection Period: $502,789,604.60
(4) After giving effect to distributions on this Payment Date:
(a) (i) outstanding principal amount of A-1 Notes: $0.00
(ii) A-1 Note Pool Factor: 0.0000000
(b) (i) outstanding principal amount of A-2 Notes: $145,541,020.42
(ii) A-2 Note Pool Factor: 0.7629936
(c) (i) outstanding principal amount of A-3 Notes: $145,750,000.00
(ii) A-3 Note Pool Factor: 1.0000000
(d) (i) outstanding principal amount of A-4 Notes: $180,449,000.00
(ii) A-4 Note Pool Factor: 1.0000000
(e) (i) outstanding principal amount of B Notes: $20,111,584.18
(ii) C Note Pool Factor: 0.8044634
(f) (i) Certificate Balance $10,938,000.00
(ii) Certificate Pool Factor: 1.0000000
(5) Amount of Servicing Fee: $431,450.14
per $1,000 Beginning of Collection Period: 1.6545945
(6) Amount of Administration Fee: $166.67
per $1,000 Beginning of Collection Period: 0.0006392
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $4,977.09
(9) Amount in Spread Account: $12,499,977.37
(10) Amount in Pre-Funding Account: $0.00
(11) For the Final payment date with respect to the Funding Period, the NA
Remaining Pre-Funded Amount
(12) Amount in Negative Carry Account: $0.00
<PAGE>
CASE EQUIPMENT LOAN TRUST 1998-A
PAYMENT AND DEPOSIT INSTRUCTIONS TO INDENTURE TRUSTEE
$72,113,000 Class A-1 5.545% Asset Backed Notes due March 15, 1999
$190,750,000 Class A-2 5.592% Asset Backed Notes due July 16, 2001
$145,750,000 Class A-3 5.740% Asset Backed Notes due August 15, 2002
$180,449,000 Class A-4 5.830% Asset Backed Notes due February 15, 2005
$25,000,000 Class B 5.940% Asset Backed Notes due February 15, 2005
$10,938,000 5.940% Asset Backed Certificates due February 15, 2005
Payment Date: 16-Nov-98
(1) Payment of Administration Fee to Administrator: $166.67
(2) Offered Noteholders' Interest Distributable Amount
deposited into Note Distribution Account: $2,471,142.37
(3) Noteholders' Principal Distributable Amount to be
deposited into Noteholders' Distribution Account: $14,950,564.63
(4) Certificateholders' Interest Distributable Amount to be
deposited into Certificateholders' Distribution Account: $54,143.10
(5) Certificateholders' Principal Distributable Amount to be
deposited into Certificateholders' Distribution Account: $0.00
(6) Payment of Servicing Fee to Servicer: $431,450.14
(7) Release to Seller from Excess Collections over Distributions $981,346.13
Check for Error NO ERROR
Sum of Above Distributions $18,888,813.04
Total Distribution Amount plus Releases to Seller $18,888,813.04
<PAGE>
CASE EQUIPMENT LOAN TRUST 1998-A
SERVICER'S CERTIFICATE
$72,113,000 Class A-1 5.545% Asset Backed Notes due March 15, 1999
$190,750,000 Class A-2 5.592% Asset Backed Notes due July 16, 2001
$145,750,000 Class A-3 5.740% Asset Backed Notes due August 15, 2002
$180,449,000 Class A-4 5.830% Asset Backed Notes due February 15, 2005
$25,000,000 Class B 5.940% Asset Backed Notes due February 15, 2005
$10,938,000 5.940% Asset Backed Certificates due February 15, 2005
Payment Date: 16-Nov-98
(1) Total Distribution Amount: $18,888,813.04
(2) Administration Fee: $166.67
(3) Noteholders' Interest Distributable Amount applicable to A-1 Notes: $0.00
(4) Noteholders' Interest Carryover Shortfall applicable to A-1 Notes: $0.00
(5) Noteholders' Interest Distributable Amount applicable to A-2 Notes: $794,777.60
(6) Noteholders' Interest Carryover Shortfall applicable to A-2 Notes: $0.00
(7) Noteholders' Interest Distributable Amount applicable to A-3 Notes: $697,170.83
(8) Noteholders' Interest Carryover Shortfall applicable to A-3 Notes: $0.00
(9) Noteholders' Interest Distributable Amount applicable to A-4 Notes: $876,681.39
(10) Noteholders' Interest Carryover Shortfall applicable to A-4 Notes: $0.00
(11) Noteholders' Interest Distributable Amount applicable to b Notes: $102,512.55
(12) Noteholders' Interest Carryover Shortfall applicable to B Notes: $0.00
(13) Offered Noteholders' Interest Distributable Amount $2,471,142.37
deposited into Note Distribution Account:
(14) A-1 Noteholders' Monthly Principal Distributable Amount: $0.00
(15) % of Fixed Rate Principal Distribution Amount applicable to A-1 Noteholders 0.00%
(16) A-1 Noteholders' Principal Carryover Shortfall: $0.00
(17) A-1 Noteholders' Principal Distributable Amount: $0.00
(18) A-2 Noteholders' Monthly Principal Distributable Amount: $14,352,542.04
(19) % of Fixed Rate Principal Distribution Amount applicable to A-2 Noteholders 96.00%
(20) A-2 Noteholders' Principal Carryover Shortfall: $0.00
(21) A-2 Noteholders' Principal Distributable Amount: $14,352,542.04
(22) A-3 Noteholders' Monthly Principal Distributable Amount: $0.00
(23) % of Fixed Rate Principal Distribution Amount applicable to A-3 Noteholders 0.00%
(24) A-3 Noteholders' Principal Carryover Shortfall: $0.00
(25) A-3 Noteholders' Principal Distributable Amount: $0.00
(26) A-4 Noteholders' Monthly Principal Distributable Amount: $0.00
(27) % of Fixed Rate Principal Distribution Amount applicable to A-4 Noteholders 0.00%
(28) A-4 Noteholders' Principal Carryover Shortfall: $0.00
(29) A-4 Noteholders' Principal Distributable Amount: $0.00
(30) B Noteholders' Monthly Principal Distributable Amount: $598,022.59
(31) % of Fixed Rate & Floating Rate Principal Distribution Amount applicable to B Noteholders 4.00%
(32) B Noteholders' Principal Carryover Shortfall: $0.00
(33) B Noteholders' Principal Distributable Amount: $598,022.59
(34) Noteholders' Principal Distribution Amount: $14,950,564.63
(35) Noteholders' Distributable Amount: $17,421,707.00
(36) Deposit to Spread Account (from excess collections): $1,466,939.37
<PAGE>
(37) Specified Spread Account Balance (after all distributions and adjustments) : $12,499,977.37
The Lesser of:
(a) 2.00% of the Initial Pool Balance $12,499,977.37
(b) the Note Balance $491,851,604.60
(38) Spread Account Balance over the Specified Spread Account Balance: $1,466,939.37
(39) Certificateholders' Interest Distributable Amount: $54,143.10
(40) Certificateholders' Interest Carryover Shortfall: $0.00
(41) % of Fixed Rate & Floating Rate Principal Distribution Amount applicable to Certificateholders 0.00%
(42) Certificateholders' Principal Distributable Amount applicable to current period $0.00
(43) Certificateholders' Principal Carryover Shortfall: $0.00
(44) Certificateholders' Principal Distributable Amount: $0.00
(45) Certificateholders' Distributable Amount: $54,143.10
(46) Servicing Fee: $431,450.14
(47) Excess Amounts Distributed To Seller:
(a) Release of Remaining Fixed and Floating Rate Excess Distributions $981,346.13
(b) Release of Excess Amount in Negative Carry Account $0.00
(48) Amount to be withdrawn from the Spread Account and deposited
into the Note Distribution Account $0.00
(49) Pool Balance as of the opening of business on the first day of
the Collection Period in which the Payment Date occurs: $517,740,169.23
(50) After giving effect to all distributions on such Payment Date:
Outstanding Principal Balance of A-1 Notes: $0.00
A-1 Note Pool Factor: 0.0000000
Outstanding Principal Balance of A-2 Notes: $145,541,020.42
A-2 Note Pool Factor: 0.7629936
Outstanding Principal Balance of A-3 Notes: $145,750,000.00
A-3 Note Pool Factor: 1.0000000
Outstanding Principal Balance of A-4 Notes: $180,449,000.00
A-4 Note Pool Factor: 1.0000000
Outstanding Principal Balance of B Notes: $20,111,584.18
B Note Pool Factor: 0.8044634
Outstanding Principal Balance of the Certificates: $10,938,000.00
Certificate Pool Factor: 1.0000000
(51) Aggregate Purchase Amounts for related Collection Period: $0.00
(52) Aggregate Amount of Realized Losses for the related Collection Period: $4,977.09
(53) Spread Account Balance after giving effect to all distributions: $12,499,977.37
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CASE EQUIPMENT LOAN TRUST 1998-B
$112,706,000 Class A-1 5.6075% Asset Backed Notes due September 15, 1999
$200,000,000 Class A-2 5.700% Asset Backed Notes due May 15, 2002
$140,000,000 Class A-3 5.810% Asset Backed Notes due May 15, 2003 NPV Data Input Section
$134,794,000 Class A-4 5.920% Asset Backed Notes due October 17, 2005 Scheduled cash flows as of the indicated cutoff date
$25,000,000 Class B 5.990% Asset Backed Notes due October 17, 2005 Row 0 is total delinquent amount valued without
$12,400,000 Deferred Purchase Price discounting
$100,000 5.990% Asset Backed Certificates due October 17, 2005
Prepared by Sally Nelson (414) 636-5637
---------------------------------------------------------------
05-Nov-98 05-Nov-98 05-Nov-98
---------------------------------------------------------------
Pool 1 Pool 2 Pool 3
<S> <C> <C> <C>
0 4,156,136.52 1,046,836.61 791,503.45
1 9,851,648.06 2,006,173.19 1,930,168.86
2 12,308,254.88 1,895,308.45 2,090,048.18
3 8,714,601.12 1,733,248.54 2,260,253.06
4 8,204,682.27 1,710,240.00 1,738,032.19
5 14,883,459.06 1,832,888.74 1,725,901.91
6 17,711,696.07 1,815,858.54 1,735,640.48
7 16,332,577.45 1,820,659.92 1,801,579.12
8 15,894,669.44 1,753,857.31 2,170,212.67
9 10,237,455.73 1,799,277.05 6,180,721.58
10 8,564,710.28 1,798,472.01 4,277,937.71
11 7,777,019.75 1,749,818.07 1,777,169.04
12 8,503,248.57 1,808,747.51 2,071,723.45
13 9,663,620.40 1,900,412.05 2,026,795.43
14 11,786,615.31 1,831,536.58 2,203,876.59
15 8,402,292.96 1,629,695.64 2,135,524.11
16 7,933,993.06 1,584,561.49 1,667,650.31
17 14,563,295.58 1,695,262.80 1,659,807.57
18 17,270,034.35 1,655,760.40 1,657,869.26
19 15,733,678.46 1,643,032.69 1,642,554.57
20 15,236,947.06 1,593,241.77 1,994,587.96
21 9,532,790.96 1,617,943.45 6,069,045.75
22 7,790,433.31 1,601,399.53 3,932,288.97
23 6,928,414.39 1,542,293.24 1,638,490.63
24 7,781,049.90 1,557,476.16 1,908,611.47
25 8,863,989.00 1,596,162.79 1,947,401.87
26 10,658,084.22 1,498,044.87 1,984,839.90
27 7,375,155.86 1,357,756.08 1,979,485.66
28 7,173,147.86 1,286,323.96 1,542,983.34
29 13,685,732.49 1,346,173.80 1,502,907.94
30 16,121,364.89 1,239,780.61 1,488,533.72
31 14,196,227.61 1,198,025.65 1,499,404.05
32 13,473,460.19 1,103,355.51 1,843,149.25
33 7,698,931.27 1,110,220.28 5,776,348.22
34 5,931,369.16 1,094,327.16 3,595,875.12
35 4,836,861.53 1,017,652.15 1,307,142.44
36 5,664,117.05 1,000,009.74 1,513,026.66
37 6,500,952.92 1,083,599.72 1,519,268.11
38 7,783,747.25 974,358.95 1,603,019.35
39 5,319,230.14 834,592.11 1,534,202.40
40 4,979,181.66 789,295.20 1,156,890.08
41 8,118,034.16 782,710.90 1,143,764.80
42 11,025,042.64 709,524.67 1,114,840.07
43 9,328,849.96 612,559.97 1,168,439.98
44 8,656,024.38 570,616.43 1,393,507.02
45 4,229,557.17 543,589.28 4,460,029.73
46 2,648,737.11 479,180.07 2,262,223.91
47 1,737,786.15 452,326.48 438,356.17
48 2,382,371.26 419,621.03 602,571.84
49 2,989,579.87 458,250.41 680,424.25
50 3,882,954.69 391,117.66 763,103.44
51 2,241,099.67 327,816.63 670,956.36
52 2,130,166.53 250,070.42 417,190.39
53 4,359,209.33 245,080.91 283,198.90
54 6,566,688.67 235,345.44 300,741.81
55 5,340,196.38 131,987.45 304,139.58
56 5,076,510.46 98,226.32 601,586.41
57 1,661,804.31 47,534.40 2,589,154.35
58 397,508.45 26,996.20 1,291,725.63
59 176,461.01 26,996.20 79,632.67
60 239,938.63 17,246.87 191,528.38
61 286,781.18 74,475.21 156,510.52
62 235,416.36 7,755.20 139,820.39
63 51,992.08 7,755.20 25,908.95
64 50,016.70 7,755.20 7,965.05
65 376,441.84 7,755.20 5,002.91
66 546,577.06 23,865.28 5,002.91
67 120,207.95 0.00 5,002.91
68 224,262.64 0.00 89,387.07
69 0.00 0.00 80,572.23
70 0.00 0.00 0.00
71 0.00 0.00 0.00
72 0.00 0.00 0.00
73 0.00 0.00 0.00
74 0.00 0.00 0.00
Total Time Balance of Scheduled Cash Flows 501,105,094.68 68,109,839.35 112,154,761.06
<PAGE>
CASE EQUIPMENT LOAN TRUST 1998-B
$112,706,000 Class A-1 5.6075% Asset Backed Notes due September 15, 1999
$200,000,000 Class A-2 5.700% Asset Backed Notes due May 15, 2002
$140,000,000 Class A-3 5.810% Asset Backed Notes due May 15, 2003
$134,794,000 Class A-4 5.920% Asset Backed Notes due October 17, 2005
$25,000,000 Class B 5.990% Asset Backed Notes due October 17, 2005
$12,400,000 Deferred Purchase Price
$100,000 5.990% Asset Backed Certificates due October 17, 2005
Prepared by Sally Nelson (414) 636-5637
Scheduled Payment Date 15-Nov-98
Actual Payment Date 16-Nov-98
Collection Period Begin Date 06-Oct-98
Collection Period End Date 05-Nov-98
Days in accrual period (30/360) 30
Days in accrual period (ACT/360) 32
PART I -- MONTHLY DATA INPUT
Receipts During the Period $19,106,496.75
Warranty Repurchases
Contracts deferred beyond Final Scheduled Maturity Date $0.00
Government obligors $0.00
Total Warranty Repurchases $0.00
Total Collections For The Period $19,106,496.75
Pool Balance (Beg. of Collection Period) $594,194,734.31
Pool Balance (End of Collection Period) $579,445,153.17
Total Receivables Collection $19,106,496.75
Negative Carry Withdrawls $0.00
Yield Supplement Withdrawals $0.00
Spread Account Withdrawals to Pay NoteHolders $0.00
Release from Pre-Funding Amount to Paydown A1 Principal $0.00
Reinvestment Income (including Pre-Funding Account, Spread Account and YSA) $124,791.69
Pre-Funding Account Reinvestment Income $0.00
Total Distribution Amount $19,231,288.44
MISCELLANEOUS DATA
Total Collateral
----------------
Scheduled Amounts 30 - 59 days past due $1,620,729.36
Scheduled Amounts 60 days or more past due $248,919.41
Net Losses on Liquidated Receivables $0.00
Number of Loans at Beginning of Period 20,219
Number of Loans at End of Period 20,000
Repossessed Equipment not Sold or Reassigned (Beginning) $0.00
Repossessed Equipment not Sold or Reassigned (End) $0.00
Pre-Funding Account Reinvestment Income $0.00
<PAGE>
CASE EQUIPMENT LOAN TRUST 1998-B
$112,706,000 Class A-1 5.6075% Asset Backed Notes due September 15, 1999
$200,000,000 Class A-2 5.700% Asset Backed Notes due May 15, 2002
$140,000,000 Class A-3 5.810% Asset Backed Notes due May 15, 2003
$134,794,000 Class A-4 5.920% Asset Backed Notes due October 17, 2005
$25,000,000 Class B 5.990% Asset Backed Notes due October 17, 2005
$12,400,000 Deferred Purchase Price
$100,000 5.990% Asset Backed Certificates due October 17, 2005
Actual Payment Date 16-Nov-98
Collection Period Begin Date 06-Oct-98
Collection Period End Date 05-Nov-98
PART II -- SUMMARY
Total Principal Balance of Notes, Deferred Purchase Price and Certificates (Beginning of Period) $594,194,734.31
A-1 Note Beginning Principal Balance $83,132,944.94
A-2 Note Beginning Principal Balance $200,000,000.00
A-3 Note Beginning Principal Balance $140,000,000.00
A-4 Note Beginning Principal Balance $134,794,000.00
B Note Beginning Principal Balance $23,767,789.37
Deferred Purchase Price Beginning Principal Balance $12,400,000.00
Certificate Beginning Principal Balance $100,000.00
Total Principal Balance of Notes, Deferred Purchase Price and Certificates (End of Period) $579,445,153.17
A-1 Note Principal Balance (End of Period) $68,973,347.04
A-1 Note Pool Factor (End of Period) 0.6119758
A-2 Note Principal Balance (End of Period) $200,000,000.00
A-2 Note Pool Factor (End of Period) 1.0000000
A-3 Note Principal Balance (End of Period) $140,000,000.00
A-3 Note Pool Factor (End of Period) 1.0000000
A-4 Note Principal Balance (End of Period) $134,794,000.00
A-4 Note Pool Factor (End of Period) 1.0000000
B Note Principal Balance (End of Period) $23,177,806.13
B Note Pool Factor (End of Period) 0.9271122
Deferred Purchase Price Principal Balance (End of Period) $12,400,000.00
Deferred Purchase Price Pool Factor (End of Period) 1.0000000
Certificate Principal Balance (end of Period) $100,000.00
Certificate Pool Factor (end of Period) 1.0000000
COLLATERAL VALUE DECLINE $14,749,581.14
Pool Balance (Beg. of Collection Period) $594,194,734.31
Pool Balance (End of Collection Period) $579,445,153.17
Total Distribution Amount (TDA) $19,231,288.44
Total Collections and Investment Income for the Period $19,231,288.44
Negative Carry Withdrawls $0.00
Yield Supplement Withdrawals $0.00
Principal Distribution Amount (PDA) $14,749,581.14
Principal Allocation to Notes, Deferred Purchase Price and Certificates $14,749,581.14
A-1 Noteholders' Principal Distributable Amount (including Carryover Shortfall) $14,159,597.89
A-2 Noteholders' Principal Distributable Amount (including Carryover Shortfall) $0.00
A-3 Noteholders' Principal Distributable Amount (including Carryover Shortfall) $0.00
A-4 Noteholders' Principal Distributable Amount (including Carryover Shortfall) $0.00
B Noteholders' Principal Distributable Amount (including Carryover Shortfall) $589,983.25
Deferred Purchase Price Principal Distributable Amount (including Carryover Shortfall) $0.00
Certificateholders' Principal Distribuatable Amount (including Carryover Shortfall) $0.00
Interest Distributable Amount $2,888,225.33
Noteholders' Interest Distributable Amount applicable to A-1 Notes $414,371.55
Noteholders' Interest Distributable Amount applicable to A-2 Notes $950,000.00
Noteholders' Interest Distributable Amount applicable to A-3 Notes $677,833.33
Noteholders' Interest Distributable Amount applicable to A-4 Notes $664,983.73
Noteholders' Interest Distributable Amount applicable to B Notes $118,640.88
Deferred Purchase Price Interest Distributable Amount $61,896.67
Certificateholders' Interest Distributable Amount $499.17
Spread Account
Beginning Spread Account Balance $12,499,916.99
Deposit to Spread Account from Pre-Funding Account $0.00
Deposit to Spread Account from Excess Collections over Distributions $1,655,711.14
Distribution from Spread Account for Interest / Principal Shortfall $0.00
Specified Spread Account Balance $12,499,916.99
Ending Spread Account Balance (after distributions) $12,499,916.99
Credit Enhancement 2.16%
Spread account % of Ending Pool Balance 2.16%
Overcollateralization % of Ending Pool Balance 0.00%
Scheduled Amounts 30 - 59 days past due $1,620,729.36
as % of Ending Pool Balance 0.28%
Scheduled Amounts 60 days or more past due $248,919.41
as % of Ending Pool Balance 0.04%
Net Losses on Liquidated Receivables $0.00
as % of Ending Pool Balance 0.00%
<PAGE>
PART III -- SERVICING CALCULATIONS 16-Nov-98
1. SOURCES AND USES OF COLLECTION ACCOUNT BALANCE Pool 1 Pool 2 Pool 3
Wtd. Avg. APR 8.559% 8.559% 8.668%
Contract Value (Beg. of Collection Period), by origination pool $436,803,136.72 $60,899,822.74 $96,491,774.85
Contract Value (End of Collection Period), by origination pool $426,262,767.01 $59,028,174.25 $94,154,211.91
--------------- -------------- --------------
Contract Value Decline $10,540,369.71 $1,871,648.49 $2,337,562.94
2.41% 3.07% 2.42%
Initial Pool Balance $624,995,849.39
Pool Balance (End of Collection Period) $579,445,153.17
Collections and Investment Income for the period $19,231,288.44
Negative Carry Withdrawls $0.00
Yield Supplement Withdrawals $0.00
Total Distribution Amount (TDA) $19,231,288.44
Principal Distribution Amount (PDA) $14,749,581.14
Initial B Percentage 4.000%
Unscheduled Principal (per pool) $1,476,615.94 $0.00 $441,252.71
Total Unscheduled Principal $1,917,868.65
2. CALCULATION OF DISTRIBUTABLE AMOUNTS
Principal Distributable Amount 14,749,581.14
A-1 Note Beginning Principal Balance $83,132,944.94
A-1 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-1 Noteholders' Share of the Principal Distribution Amount 96.00%
Preliminary A-1 Noteholders' Principal Distributable Amount
(including One-Time Excess Prefund Acct. Pmt.) $14,159,597.89
One-Time Excess Prefunding Account Payment $0.00
A-1 Noteholders' Principal Distributable Amount (including Carryover
Shortfall) $14,159,597.89
Principal Distributable Amount Remaining $589,983.25
A-2 Note Beginning Principal Balance $200,000,000.00
A-2 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-2 Noteholders' Share of the Principal Distribution Amount 0.00%
A-2 Noteholders' Principal Distributable Amount (including Carryover
Shortfall) $0.00
Principal Distributable Amount Remaining $589,983.25
A-3 Note Beginning Principal Balance $140,000,000.00
A-3 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-3 Noteholders' Share of the Principal Distribution Amount 0.00%
A-3 Noteholders' Principal Distributable Amount (including Carryover
Shortfall) $0.00
Principal Distributable Amount Remaining $589,983.25
A-4 Note Beginning Principal Balance $134,794,000.00
A-4 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-4 Noteholders' Share of the Principal Distribution Amount 0.00%
A-4 Noteholders' Principal Distributable Amount (including Carryover
Shortfall) $0.00
Principal Distributable Amount Remaining $589,983.25
B Note Beginning Principal Balance $23,767,789.37
B Noteholders' Principal Carryover Shortfall (Previous Peri $0.00
B Noteholders' Share of the Principal Distribution Amount 4.00%
B Noteholders' Principal Distributable Amount (including Carryover
Shortfall) $589,983.25
Principal Distributable Amount Remaining $0.00
Deferred Purchase Price Beginning Principal Balanc $12,400,000.00
Deferred Purchase Price Principal Carryover Shortfall (Previous Period) $0.00
Deferred Purchase Price Share of the Principal Distribution Amount 0.00%
Deferred Purchase Price Principal Distributable Amount (including Carryover
Shortfall) $0.00
Certificate Purchase Price Beginning Principal Balance $100,000.00
Certificateholders' Principal Carryover Shortfall (Previous Period) $0.00
Certificateholders' Share of the Principal Distribution Amount 0.00%
Certificateholders' Principal Distributable Amount (including Carryover
Shortfall) $0.00
Interest Accrued on Class A-1 Notes this period $414,371.55
Noteholders' Interest Carryover Shortfall (Previous Period) applicable
to A-1 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount applicable to A-1 Notes $414,371.55
Interest Accrued on Class A-2 Notes this period $950,000.00
Noteholders' Interest Carryover Shortfall (Previous Period) applicable
to A-2 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount applicable to A-2 Notes $950,000.00
Interest Accrued on Class A-3 Notes this period $677,833.33
Noteholders' Interest Carryover Shortfall (Previous Period) applicable
to A-3 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount applicable to A-3 Notes $677,833.33
Interest Accrued on Class A-4 Notes this period $664,983.73
Noteholders' Interest Carryover Shortfall (Previous Period) applicable
to A-4 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount applicable to A-4 Notes $664,983.73
Interest Accrued on Class A-1, A-2, A-3 and A-4 Notes this period $2,707,188.61
Offered Noteholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Offered Noteholders' Interest Distributable Amount $2,707,188.61
Interest Accrued on Class B Notes this period $118,640.88
Noteholders' Interest Carryover Shortfall (Previous Period) applicable
to B Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount applicable to B Notes 118,640.88
Interest Accrued on Deferred Purchase Price this period $61,896.67
Deferred Purchase Price Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on Above Shortfall $0.00
Deferred Purchase Price Interest Distributable Amount $61,896.67
Interest Accrued on Certificates this period $499.17
Certificateholders' Interest Carryover Shortfall (Previous Period) $0.00
<PAGE>
Interest Due (in Arrears) on Above Shortfall $0.00
Certificateholders' Interest Distributable Amount $499.17
<PAGE>
3. ALLOCATION OF DISTRIBUTION AMOUNTS
a. Total Distribution Amount (TDA) $19,231,288.44
Administration Fee Shortfall (Previous Period) $0.00
Administration Fee Accrued during this Period $166.67
Administration Fee Paid this Period from TDA $166.67
Administration Fee Shortfall $0.00
Total Distribution Amount Remaining $19,231,121.77
Noteholders' Interest Carryover Shortfall (Previous Period) applicable to A-1 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class A-1 Notes this period $414,371.55
Noteholders' Interest applicable to A-1 Notes Paid this Period from TDA $414,371.55
Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-1 Notes $0.00
Noteholders' Interest Carryover Shortfall (Previous Period) applicable to A-2 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class A-2 Notes this period $950,000.00
Noteholders' Interest applicable to A-2 Notes Paid this Period from TDA $950,000.00
Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-2 Notes $0.00
Noteholders' Interest Carryover Shortfall (Previous Period) applicable to A-3 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class A-3 Notes this period $677,833.33
Noteholders' Interest applicable to A-3 Notes Paid this Period from TDA $677,833.33
Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-3 Notes $0.00
Noteholders' Interest Carryover Shortfall (Previous Period) applicable to A-4 Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class A-4 Notes this period $664,983.73
Noteholders' Interest applicable to A-4 Notes Paid this Period from TDA $664,983.73
Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-4 Notes $0.00
Offered Noteholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class A-1, A-2, A-3 and A-4 Notes this period $2,707,188.61
Offered Noteholders' Interest Paid this Period from TDA $2,707,188.61
Preliminary A Noteholders' Interest Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $16,523,933.16
Noteholders' Interest Carryover Shortfall (Previous Period) applicable to B Notes $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on B Notes this period $118,640.88
Noteholders' Interest applicable to B Notes Paid this Period from TDA $118,640.88
Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to B Notes $0.00
Total Distribution Amount Remaining $16,405,292.28
A-1 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-1 Noteholders' Monthly Principal Distributable Amount (including Caryover Shortfall) $14,159,597.89
A-1 Noteholders' Principal Distributable Amount Paid from TDA $14,159,597.89
Preliminary A-1 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $2,245,694.39
A-2 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-2 Noteholders' Monthly Principal Distributable Amount (including Caryover Shortfall) $0.00
A-2 Noteholders' Principal Distributable Amount Paid from TDA $0.00
Preliminary A-2 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $2,245,694.39
A-3 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-3 Noteholders' Monthly Principal Distributable Amount (including Caryover Shortfall) $0.00
A-3 Noteholders' Principal Distributable Amount Paid from TDA $0.00
Preliminary A-3 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $2,245,694.39
A-4 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-4 Noteholders' Monthly Principal Distributable Amount (including Caryover Shortfall) $0.00
A-4 Noteholders' Principal Distributable Amount Paid from TDA $0.00
Preliminary A-4 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $2,245,694.39
B Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
B Noteholders' Monthly Principal Distributable Amount (including Caryover Shortfall) $589,983.25
B Noteholders' Principal Distributable Amount Paid from TDA $589,983.25
Preliminary B Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Excess Distribution Amount Remaining $1,655,711.14
4. RECONCILIATION OF PRE-FUNDING ACCOUNT
Beginning Pre-Funding Account Balance $0.00
New Collateral Purchased $0.00
Deposit to Spread Account $0.00
Deposit to Yield Supplement Account $0.00
Payment to Seller $0.00
Payment to Class A-1 after Funding is Complete $0.00
Ending Pre-Funding Account Balance $0.00
Excess Pre-Funded Amount/(Payment to Sellers) $0.00
Adjusted Ending Pre-Funding Account Balance $0.00
5. RECONCILIATION OF NEGATIVE CARRY ACCOUNT
Beginning Negative Carry Account Balance $0.00
Negative Carry 3.268374%
Number of Days Remaining 89 days
Pre-Funded Percentage 0.000%
Negative Carry Withdrawls $0.00
Cumulative Negative Carry Withdrawls $300,471.65
Maximum Negative Carry Amount $0.00
<PAGE>
Required Negative Carry Account Balance $0.00
Interim Ending Negative Carry Account Balance $0.00
Negative Carry Amount Released to Seller $0.00
Ending Negative Carry Account Balance $0.00
<PAGE>
6. RECONCILATION OF YIELD SUPPLEMENT ACCOUNT
Beginning Yield Supplement Account Balance $2,245,332.87
Deposit to Yield Supplement Account from Pre-Funding Account $0.00
Receivables Percentage 100.00%
Withdrawal of Yield Supplement Amount $0.00
Maximum Yield Supplement Amount $2,245,332.87
Required Yield Supplement Amount $2,245,332.87
Interim Yield Supplement Account Balance $2,245,332.87
Yield Supplement Amount Released to Seller $0.00
Ending Yield Supplement Account Balance $2,245,332.87
7. DISTRIBUTIONS FROM SPREAD ACCOUNT
Beginning Spread Account Balance $12,499,916.99
Deposit to Spread Account from Pre-Funding Account $0.00
Deposit to Spread Account from Excess Collections over Distributions $1,655,711.14
Distribution from Spread Account to Noteholders' Distr. Account $0.00
Adj to Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-1 Notes $0.00
Adj to Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-2 Notes $0.00
Adj to Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-3 Notes $0.00
Adj to Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-4 Notes $0.00
Remaining Distributed Spread Account Amount to Noteholders' Distr. Account $0.00
Adj to Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to B Notes $0.00
Remaining Distributed Spread Account Amount to Noteholders' Distr. Account $0.00
Adj to Preliminary A-1 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Adj to Preliminary A-2 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Adj to Preliminary A-3 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Adj to Preliminary A-4 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Remaining Distributed Spread Account Amount to Noteholders' Distr. Account $0.00
Adj to Preliminary B Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Preliminary Spread Account Balance Remaining $14,155,628.13
Cumulative Realized Losses since 31-July-98 (Cut-off Date) $0.00
Are Cum. Realized Losses > 2.25% of Initial Pool Balance? NO
12*(Realized Losses during Collection Period + Repos at end of Collection Period) $0.00
Is 12*Realized Losses + Unliq. Repos > 1.65% of Beg. Pool Balance? NO
60 day or > Delinquent Scheduled Amounts $248,919.41
Are 60 day or > Delinquencies > 2.25% of Ending Pool Balance? NO
Are any of the three conditions "YES"? NO
Preliminary A-1 Note Principal Balance (End of Period) $68,973,347.04
Preliminary A-2 Note Principal Balance (End of Period) $200,000,000.00
Preliminary A-3 Note Principal Balance (End of Period) $140,000,000.00
Preliminary A-4 Note Principal Balance (End of Period) $134,794,000.00
Preliminary B Note Principal Balance (End of Period) $23,177,806.13
Preliminary Total Principal Balance of Notes (End of Period) $566,945,153.17
Specified Spread Account Balance 12,499,916.99
Lesser of:
(a) 2.00% of the Initial Pool Balance 12,499,916.99
(b) the Note Balance 566,945,153.17
Preliminary Spread Account Balance Remaining $14,155,628.13
Preliminary Excess Amount in Spread Account $1,655,711.14
Preliminary Shortfall Amount in Spread Account $0.00
Deposit to Spread Account from Remaing Excess Distribution $0.00
Spread Account Excess $1,655,711.14
Ending Spread Account Balance (after distributions) $12,499,916.99
Net Change in Spread Account Balance $0.00
Total Excess Distribution Amount Remaining $1,655,711.14
Deferred Purchase Price Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on Above Shortfall $0.00
Interest Accrued on Deferred Purchase Price this period $61,896.67
Deferred Purchase Price Interest Paid from Excess Distribution $61,896.67
Preliminary Deferred Purchase Price Interest Carryover Shortfall (Current Period) $0.00
Certificateholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on Above Shortfall $0.00
Interest Accrued on Certificates this period $499.17
Certificateholders' Interest Paid from Excess Distribution $499.17
Certificateholders' Interest Carryover Shortfall (Current Period) $0.00
Total Excess Distribution Amount Remaining $1,593,315.30
Deferred Purchase Price Principal Carryover Shortfall (Previous Period) $0.00
Deferred Purchase Price Principal Distributable Amount current period (including Carryover Shortfall) $0.00
Deferred Purchase Price Principal Distributable Amount Paid from Fixed and Floating Rate Excess Distrbution $0.00
Preliminary Deferred Purchase Price Principal Carryover Shortfall (Current Period) $0.00
Certificateholders' Principal Carryover Shortfall (Previous Period) $0.00
Certificateholders' Principal Distributable Amount current period (including Carryover Shortfall) $0.00
Certificateholders' Principal Distributable Amount Paid from Fixed and Floating Rate Excess Distrbution $0.00
Preliminary Certificateholders' Principal Carryover Shortfall (Current Period) $0.00
Total Excess Distribution Amount Remaining $1,593,315.30
Servicing Fee Shortfall (Previous Period) $0.00
Servicing Fees Accrued during this Period $495,162.28
Adjustment to Servicing Fee $0.00
Adjustment to Excess Distribution Amount Remaining $0.00
Servicing Fees Paid this Period from Excess Distribution $495,162.28
Servicing Fee Shortfall $0.00
<PAGE>
Total Excess Distribution Amount Remaining $1,098,153.02
<PAGE>
8. ENDING BALANCES
Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-1 Notes $0.00
Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-2 Notes $0.00
Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-3 Notes $0.00
Noteholders' Interest Carryover Shortfall (Current Period) applicable to A-4 Notes $0.00
Noteholders' Interest Carryover Shortfall (Current Period) applicable to B Notes $0.00
A-1 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
A-2 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
A-3 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
A-4 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
B Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Deferred Purchase Price Interest Carryover Shortfall (Current Period) $0.00
Deferred Purchase Price Principal Carryover Shortfall (Current Period) $0.00
Certificateholders' Interest Carryover Shortfall (Current Period) $0.00
Certificateholders' Principal Carryover Shortfall (Current Period) $0.00
A-1 Note Principal Balance (End of Period) $68,973,347.04
A-2 Note Principal Balance (End of Period) $200,000,000.00
A-3 Note Principal Balance (End of Period) $140,000,000.00
A-4 Note Principal Balance (End of Period) $134,794,000.00
B Note Principal Balance (End of Period) $23,177,806.13
Deferred Purchase Price Principal Balance (End of Period) $12,400,000.00
Certificate Principal Balance (end of Period) $100,000.00
Total Principal Balance of Notes, Deferred Purchase Price and Certificates (End of Period) $579,445,153.17
A-1 Note Pool Factor (End of Period) 0.6119758
A-2 Note Pool Factor (End of Period) 1.0000000
A-3 Note Pool Factor (End of Period) 1.0000000
A-4 Note Pool Factor (End of Period) 1.0000000
B Note Pool Factor (End of Period) 0.9271122
Deferred Purchase Price Pool Factor (End of Period) 1.0000000
Certificate Pool Factor (endof Period) 1.0000000
Total Notes, Deferred Purchase Price & Certificates Pool Factor (End of Period) 0.9271122
Specified Spread Account Balance (after all distributions and adjustments) $12,499,916.99
Yield Supplement Account Balance (after alldistributions and adjustment): $2,245,332.87
<PAGE>
CASE EQUIPMENT LOAN TRUST 1998-B
STATEMENT TO NOTEHOLDERS
$112,706,000 Class A-1 5.6075% Asset Backed Notes due September 15, 1999
$200,000,000 Class A-2 5.700% Asset Backed Notes due May 15, 2002
$140,000,000 Class A-3 5.810% Asset Backed Notes due May 15, 2003
$134,794,000 Class A-4 5.920% Asset Backed Notes due October 17, 2005
$25,000,000 Class B 5.990% Asset Backed Notes due October 17, 2005
$12,400,000 Deferred Purchase Price
$100,000 5.990% Asset Backed Certificates due October 17, 2005
Payment Date: 16-Nov-98
(1) Amount of principal being paid on the Notes:
(a) A-1 Notes: $14,159,597.89
per $1,000 original principal amount: $125.63
(b) A-2 Notes: $0.00
per $1,000 original principal amount: $0.00
(c) A-3 Notes: $0.00
per $1,000 original principal amount: $0.00
(d) A-4 Notes: $0.00
per $1,000 original principal amount: $0.00
(e) B Notes: $589,983.25
per $1,000 original principal amount: $23.60
(f) Total $14,749,581.14
(2) Interest Paid on the Notes
(a) A-1 Notes: $414,371.55
per $1,000 original principal amount: $3.68
(b) A-2 Notes: $950,000.00
per $1,000 original principal amount: $4.75
(c) A-3 Notes: $677,833.33
per $1,000 original principal amount: $4.84
(d) A-4 Notes: $664,983.73
per $1,000 original principal amount: $4.93
(e) B Notes: $118,640.88
per $1,000 original principal amount: $4.75
(f) Total $2,825,829.49
(3) Pool Balance at the end of the related Collection Period $579,445,153.17
(4) After giving effect to distributions on current Payment Date:
(a) (i) outstanding principal amount of A-1 Notes: $68,973,347.04
(ii) A-1 Note Pool Factor: 0.6119758
(b) (i) outstanding principal amount of A-2 Notes: $200,000,000.00
(ii) A-2 Note Pool Factor: 1.0000000
(c) (i) outstanding principal amount of A-3 Notes: $140,000,000.00
(ii) A-3 Note Pool Factor: 1.0000000
(d) (i) outstanding principal amount of A-4 Notes: $134,794,000.00
(ii) A-4 Note Pool Factor: 1.0000000
(e) (i) outstanding principal amount of B Notes: $23,177,806.13
(ii) B Note Pool Factor: 0.9271122
(f) (i) Deferred Purchase Price Balance $12,400,000.00
(ii) Deferred Purchase Price Pool Factor: 1.0000000
(g) (i) Certificate Balance $100,000.00
(ii) Certificate Pool Factor: 1.00000000
(5) Amount of Servicing Fee: $495,162.28
per $1,000 Beginning of Collection Period: 1.13360513
(6) Amount of Administration Fee: $166.67
per $1,000 Beginning of Collection Period: 0.00038156
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $0.00
(9) Amount in Spread Account: $12,499,916.99
(10) Amount in Pre-Funding Account: $0.00
(11) For the Final payment date with respect to the Funding Period, the NA
Remaining Pre-Funded Amount
(12) Amount in Negative Carry Account: $0.00
(13) Amount in Yield Supplement Account: $2,245,332.87
<PAGE>
CASE EQUIPMENT LOAN TRUST 1998-B
STATEMENT TO CERTIFICATEHOLDERS
$112,706,000 Class A-1 5.6075% Asset Backed Notes due September 15, 1999
$200,000,000 Class A-2 5.700% Asset Backed Notes due May 15, 2002
$140,000,000 Class A-3 5.810% Asset Backed Notes due May 15, 2003
$134,794,000 Class A-4 5.920% Asset Backed Notes due October 17, 2005
$25,000,000 Class B 5.990% Asset Backed Notes due October 17, 2005
$12,400,000 Deferred Purchase Price
$100,000 5.990% Asset Backed Certificates due October 17, 2005
Payment Date: 16-Nov-98
(1) Amount of principal being paid or distributed:
(a) A-1 Notes: $14,159,597.89
per $1,000 original principal amount: $125.63
(b) A-2 Notes: $0.00
per $1,000 original principal amount: $0.00
(c) A-3 Notes: $0.00
per $1,000 original principal amount: $0.00
(d) A-4 Notes: $0.00
per $1,000 original principal amount: $0.00
(e) B Notes: $589,983.25
per $1,000 original principal amount: $23.60
(f) Deferred Purchase Price: $0.00
per $1,000 original principal amount: $0.00
(g) Certificates: 0.00
per $1,000 original principal amount: $0.00
(h) Total: $14,749,581.14
(2) Amount of interest being paid or distributed:
(a) A-1 Notes: $414,371.55
per $1,000 original principal amount: $3.68
(b) A-2 Notes: $950,000.00
per $1,000 original principal amount: $4.75
(c) A-3 Notes: $677,833.33
per $1,000 original principal amount: $4.84
(d) A-4 Notes: $664,983.73
per $1,000 original principal amount: $4.93
(e) B Notes: $118,640.88
per $1,000 original principal amount: $4.75
(f) Deferred Purchase Price: $61,896.67
per $1,000 original principal amount: $4.99
(g) Certificates: $499.17
per $1,000 original principal amount: $4.99
(h) Total: $2,888,225.33
(3) Pool Balance at end of related Collection Period: $579,445,153.17
(4) After giving effect to distributions on this Payment Date:
(a) (i) outstanding principal amount of A-1 Notes: $68,973,347.04
(ii) A-1 Note Pool Factor: 0.6119758
(b) (i) outstanding principal amount of A-2 Notes: $200,000,000.00
(ii) A-2 Note Pool Factor: 1.0000000
(c) (i) outstanding principal amount of A-3 Notes: $140,000,000.00
(ii) A-3 Note Pool Factor: 1.0000000
(d) (i) outstanding principal amount of A-4 Notes: $134,794,000.00
(ii) A-4 Note Pool Factor: 1.0000000
(e) (i) outstanding principal amount of B Notes: $23,177,806.13
(ii) C Note Pool Factor: 0.9271122
(f) (i) Deferred Purchase Price Balance $12,400,000.00
(ii) Certificate Pool Factor: 1.0000000
(g) (i) Certificate Balance 100,000.00
(ii) Certificate Pool Factor: 1.0000000
(5) Amount of Servicing Fee: $495,162.28
per $1,000 Beginning of Collection Period: 1.1336051
(6) Amount of Administration Fee: $166.67
per $1,000 Beginning of Collection Period: 0.0003816
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $0.00
(9) Amount in Spread Account: $12,499,916.99
(10) Amount in Pre-Funding Account: $0.00
(11) For the Final payment date with respect to the Funding Period, the
Remaining Pre-Funded Amount
(12) Amount in Negative Carry Account: $0.00
(13) Amount in Yield Supplement Account: $2,245,332.87
<PAGE>
CASE EQUIPMENT LOAN TRUST 1998-B
PAYMENT AND DEPOSIT INSTRUCTIONS TO INDENTURE TRUSTEE
$112,706,000 Class A-1 5.6075% Asset Backed Notes due September 15, 1999
$200,000,000 Class A-2 5.700% Asset Backed Notes due May 15, 2002
$140,000,000 Class A-3 5.810% Asset Backed Notes due May 15, 2003
$134,794,000 Class A-4 5.920% Asset Backed Notes due October 17, 2005
$25,000,000 Class B 5.990% Asset Backed Notes due October 17, 2005
$12,400,000 Deferred Purchase Price
$100,000 5.990% Asset Backed Certificates due October 17, 2005
Payment Date: 16-Nov-98
(1) Payment of Administration Fee to Administrator: $166.67
(2) Offered Noteholders' Interest Distributable Amount
deposited into Note Distribution Account: $2,825,829.49
(3) Noteholders' Principal Distributable Amount to be
deposited into Noteholders' Distribution Account: $14,749,581.14
(4) Deferred Purchase Price Interest Distributable Amount to be
deposited into Deferred Purchase Price Distribution Account: $61,896.67
(5) Deferred Purchase Price Principal Distributable Amount to be
deposited into Deferred Purchase Price Distribution Account: $0.00
(6) Certificateholders' Interest Distributable Amount to be
deposited into Certificateholders' Distribution Account: $499.17
(7) Certificateholders' Principal Distributable Amount to be
deposited into Certificateholders' Distribution Account: $0.00
(8) Payment of Servicing Fee to Servicer: $495,162.28
(9) Release to Seller from Excess Collections over Distributions $1,098,153.02
Check for Error NO ERROR
Sum of Above Distributions $19,231,288.44
Total Distribution Amount plus Releases to Seller $19,231,288.44
<PAGE>
CASE EQUIPMENT LOAN TRUST 1998-B
SERVICER'S CERTIFICATE
$112,706,000 Class A-1 5.6075% Asset Backed Notes due September 15, 1999
$200,000,000 Class A-2 5.700% Asset Backed Notes due May 15, 2002
$140,000,000 Class A-3 5.810% Asset Backed Notes due May 15, 2003
$134,794,000 Class A-4 5.920% Asset Backed Notes due October 17, 2005
$25,000,000 Class B 5.990% Asset Backed Notes due October 17, 2005
$12,400,000 Deferred Purchase Price
$100,000 5.990% Asset Backed Certificates due October 17, 2005
Payment Date: 16-Nov-98
(1) Total Distribution Amount: $19,231,288.44
(2) Administration Fee: $166.67
(3) Noteholders' Interest Distributable Amount applicable to A-1 Notes: $414,371.55
(4) Noteholders' Interest Carryover Shortfall applicable to A-1 Notes: $0.00
(5) Noteholders' Interest Distributable Amount applicable to A-2 Notes: $950,000.00
(6) Noteholders' Interest Carryover Shortfall applicable to A-2 Notes: $0.00
(7) Noteholders' Interest Distributable Amount applicable to A-3 Notes: $677,833.33
(8) Noteholders' Interest Carryover Shortfall applicable to A-3 Notes: $0.00
(9) Noteholders' Interest Distributable Amount applicable to A-4 Notes: $664,983.73
(10) Noteholders' Interest Carryover Shortfall applicable to A-4 Notes: $0.00
(11) Noteholders' Interest Distributable Amount applicable to b Notes: $118,640.88
(12) Noteholders' Interest Carryover Shortfall applicable to B Notes: $0.00
(13) Offered Noteholders' Interest Distributable Amount' $2,825,829.49
deposited into Note Distribution Account:
(14) A-1 Noteholders' Monthly Principal Distributable Amount: $14,159,597.89
(15) % of Fixed Rate Principal Distribution Amount applicable to A-1 Noteholders 96.00%
(16) A-1 Noteholders' Principal Carryover Shortfall: $0.00
(17) A-1 Noteholders' Principal Distributable Amount: $14,159,597.89
(18) A-2 Noteholders' Monthly Principal Distributable Amount: $0.00
(19) % of Fixed Rate Principal Distribution Amount applicable to A-2 Noteholders 0.00%
(20) A-2 Noteholders' Principal Carryover Shortfall: $0.00
(21) A-2 Noteholders' Principal Distributable Amount: $0.00
(22) A-3 Noteholders' Monthly Principal Distributable Amount: $0.00
(23) % of Fixed Rate Principal Distribution Amount applicable to A-3 Noteholders 0.00%
(24) A-3 Noteholders' Principal Carryover Shortfall: $0.00
(25) A-3 Noteholders' Principal Distributable Amount: $0.00
(26) A-4 Noteholders' Monthly Principal Distributable Amount: $0.00
(27) % of Fixed Rate Principal Distribution Amount applicable to A-4 Noteholders 0.00%
(28) A-4 Noteholders' Principal Carryover Shortfall: $0.00
(29) A-4 Noteholders' Principal Distributable Amount: $0.00
(30) B Noteholders' Monthly Principal Distributable Amount: $589,983.25
(31) % of Fixed Rate & Floating Rate Principal Distribution Amount applicable to B Noteholders 4.00%
(32) B Noteholders' Principal Carryover Shortfall: $0.00
(33) B Noteholders' Principal Distributable Amount: $589,983.25
(34) Noteholders' Principal Distribution Amount: $14,749,581.14
(35) Noteholders' Distributable Amount: $17,575,410.63
(36) Deposit to Spread Account (from excess collections): $1,655,711.14
(37) Specified Spread Account Balance (after all distributions and adjustments) : $12,499,916.99
The Lesser of:
(a) 2.00% of the Initial Pool Balance $12,499,916.99
(b) the Note Balance $566,945,153.17
(38) Spread Account Balance over the Specified Spread Account Balance: $1,655,711.14
(39) Deffered Purchase Price Interest Distribution Amount: $61,896.67
(40) Deffered Purchase Price Interest Carryover Shortfall: $0.00
(41) % of Fixed Rate & Floating Rate Principal Distribution Amount applicable to Deffered Purchase Price 0.00%
(42) Deffered Purchase Price Principal Distributable Amount applicable to current period $0.00
(43) Deffered Purchase Price Principal Carryover Shortfall: $0.00
(44) Deffered Purchase Price Principal Distribution Amount: $0.00
(45) Deffered Purchase Price Distribution Amount: $61,896.67
<PAGE>
(39) Certificateholders' Interest Distribution Amount: $499.17
(40) Certificateholders' Interest Carryover Shortfall: $0.00
(41) % of Fixed Rate & Floating Rate Principal Distribution Amount applicable to Certificates 0.00%
(42) Certificates Principal Distributable Amount applicable to current period $0.00
(43) Certificates Principal Carryover Shortfall: $0.00
(44) Certificates Principal Distribution Amount: $0.00
(45) Certificates Distribution Amount: $499.17
(46) Servicing Fee: $495,162.28
<PAGE>
CASE EQUIPMENT LOAN TRUST 1998-B
SERVICER'S CERTIFICATE
$112,706,000 Class A-1 5.6075% Asset Backed Notes due September 15, 1999
$200,000,000 Class A-2 5.700% Asset Backed Notes due May 15, 2002
$140,000,000 Class A-3 5.810% Asset Backed Notes due May 15, 2003
$134,794,000 Class A-4 5.920% Asset Backed Notes due October 17, 2005
$25,000,000 Class B 5.990% Asset Backed Notes due October 17, 2005
$12,400,000 Deferred Purchase Price
$100,000 5.990% Asset Backed Certificates due October 17, 2005
Payment Date: 00-Jan-00
(47) Excess Amounts Distributed To Seller:
(a) Release of Remaining Fixed and Floating Rate Excess Distributions $1,098,153.02
(b) Release of Excess Amount in Negative Carry Account $0.00
(b) Release of Excess Amount in Yield Supplement Account $0.00
(48) Amount to be withdrawn from the Spread Account and deposited
into the Note Distribution Account $0.00
(49) Pool Balance as of the opening of business on the first day of
the Collection Period in which the Payment Date occurs: $594,194,734.31
(50) After giving effect to all distributions on such Payment Date:
Outstanding Principal Balance of A-1 Notes: $68,973,347.04
A-1 Note Pool Factor: 0.6119758
Outstanding Principal Balance of A-2 Notes: $200,000,000.00
A-2 Note Pool Factor: 1.0000000
Outstanding Principal Balance of A-3 Notes: $140,000,000.00
A-3 Note Pool Factor: 1.0000000
Outstanding Principal Balance of A-4 Notes: $134,794,000.00
A-4 Note Pool Factor: 1.0000000
Outstanding Principal Balance of B Notes: $23,177,806.13
B Note Pool Factor: 0.9271122
Outstanding Principal Balance of the Deferred Purchase Price: $12,400,000.00
Deferred Purchase Price Pool Factor: 1.0000000
Outstanding Principal Balance of the Certificates: 100,000.00
Certificate Pool Factor: 1.0000000
(51) Aggregate Purchase Amounts for related Collection Period: $0.00
(52) Aggregate Amount of Realized Losses for the related Collection Period: $0.00
(53) Spread Account Balance after giving effect to all distributions: $12,499,916.99
</TABLE>
