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Previous: HOME BUILDING BANCORP INC, 8-K, 1999-10-29 |
Next: ASSOCIATED GROUP INC, DEFM14A, 1999-10-29 |
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported) October 15, 1999
-----------------
CASE RECEIVABLES II INC.
------------------------
(Exact Name of Registrant as Specified in its Charter)
Delaware
--------
(State or Other Jurisdiction of Incorporation)
33-84922, 3-992298, 333-52493,333-82741 Commission File Number)
76-0439709 (I.R.S. Employer Identification No.)
------------------
475 Half Day Road, Lincolnshire, Illinois 60069
-----------------------------------------------
(Address of Principal Executive Offices)(Zip Code)
(847) 955-0228
----------------
(Registrant's Telephone Number, Including Area Code)
Not Applicable
---------------
(Former Name or Former Address, if Changed Since Last Report)
<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
- ----------------------------
20.1 Monthly Servicer Report dated October 15, 1999.
<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: October 28, 1999 By: /s/ Ralph Than
----------------------
Ralph Than
Treasurer
<PAGE>
INDEX TO EXHIBITS
ExhibitSequential
No. Document Description
- -------------------------------
20.1 Monthly Servicer Report dated October 15, 1999.
<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
<TABLE>
<CAPTION>
<S><C>
NPV Data Input Section IRR Calc (pool 1) 15-Oct-99
Scheduled cash flows as of the 8.744% Pool 1 Pool 2 Pool 3 Pool 4
- -----------------------------------------------------------------------------------------------------------------------------------
end of the collection period (391,313,488.41) 1,641,887.81 361,139.54 288,818.71 226,689.81
Line 0 is scheduled amount 7,801,356.48 4,465,443.73 641,155.74 338,483.25 461,854.76
delinquent 5,531,018.13 5,798,823.04 847,849.04 501,629.95 417,576.93
6,292,888.88 6,939,298.58 1,199,432.80 641,674.51 393,983.74
6,178,687.37 1,918,510.94 2,023,902.65 549,964.34 287,163.29
6,549,877.43 932,356.14 1,206,671.15 1,953,637.47 381,687.36
5,599,124.19 843,488.34 108,191.94 1,847,645.29 1,892,915.56
11,728,887.23 564,622.13 97,911.51 78,351.72 1,010,930.95
6,044,039.29 564,707.61 77,919.57 48,791.69 71,697.39
14,469,336.82 526,295.50 79,755.13 58,250.60 56,638.39
19,551,134.56 429,208.92 127,901.03 70,752.33 61,366.08
23,450,395.65 742,434.32 189,712.02 50,569.86 80,782.62
8,097,611.75 596,477.09 68,315.33 82,194.29 73,720.41
5,524,121.98 2,189,344.19 240,018.39 48,713.79 173,569.13
5,571,124.03 2,912,175.92 279,942.77 120,729.03 123,059.14
5,781,966.02 3,932,629.07 539,739.69 227,337.05 102,199.39
5,757,754.54 785,586.46 1,126,684.09 220,438.20 85,955.78
6,057,843.66 237,409.48 342,825.36 857,503.15 139,923.85
5,144,760.40 82,064.73 39,467.19 865,646.60 850,973.51
10,457,010.15 49,090.59 6,503.78 32,264.26 437,021.09
5,678,703.73 39,878.65 14,311.58 0.00 16,473.84
14,170,346.24 32,814.96 4,524.48 11,054.43 13,732.69
19,198,808.36 2,578.63 9,409.59 9,265.88 684.40
23,041,630.90 16,930.92 1,838.94 0.00 684.40
7,767,922.51 30,160.45 1,838.94 0.00 684.40
5,180,140.04 97,465.24 1,838.94 20,280.67 12,398.07
5,169,577.15 113,527.33 1,838.94 0.00 684.40
5,402,025.15 119,899.82 89,071.55 21,953.09 684.40
5,315,366.24 19,838.68 39,838.02 48,534.41 684.40
5,562,394.55 24,060.16 0.00 24,070.95 33,389.15
4,707,758.31 0.00 0.00 0.00 7,466.64
9,584,364.45 0.00 0.00 0.00 0.00
5,180,927.58 0.00 0.00 0.00 0.00
13,345,422.82 0.00 0.00 0.00 0.00
18,045,607.49 0.00 0.00 0.00 0.00
21,782,339.07 0.00 0.00 0.00 0.00
6,814,608.24 0.00 0.00 0.00 0.00
4,373,791.80 0.00 0.00 0.00 0.00
4,306,308.12 0.00 0.00 0.00 0.00
4,336,181.80 0.00 1,853.94 0.00 0.00
4,235,875.01 0.00 1,838.94 0.00 0.00
4,212,914.29 0.00 1,838.94 0.00 0.00
3,373,098.70 0.00 1,838.94 0.00 0.00
7,536,129.12 0.00 1,838.94 0.00 0.00
3,795,320.22 0.00 1,838.94 0.00 0.00
11,010,093.10 0.00 1,838.94 0.00 0.00
15,251,123.35 0.00 1,838.94 0.00 0.00
18,472,571.70 0.00 1,838.94 0.00 0.00
4,367,542.68 0.00 0.00 0.00 0.00
2,235,205.10 0.00 0.00 0.00 0.00
1,873,477.21 0.00 0.00 0.00 0.00
1,551,335.06 0.00 0.00 0.00 0.00
1,338,174.06 0.00 0.00 0.00 0.00
1,457,024.39 0.00 0.00 0.00 0.00
1,160,456.33 0.00 0.00 0.00 0.00
3,786,139.76 0.00 0.00 0.00 0.00
1,442,510.91 0.00 0.00 0.00 0.00
6,632,389.86 0.00 0.00 0.00 0.00
9,958,376.91 0.00 0.00 0.00 0.00
12,009,644.97 0.00 0.00 0.00 0.00
2,153,318.14 0.00 0.00 0.00 0.00
423,639.45 0.00 0.00 0.00 0.00
248,739.37 0.00 0.00 0.00 0.00
185,713.82 0.00 0.00 0.00 0.00
79,018.37 0.00 0.00 0.00 0.00
109,450.51 0.00 0.00 0.00 0.00
6,995.43 0.00 0.00 0.00 0.00
54,018.43 0.00 0.00 0.00 0.00
205,992.34 0.00 0.00 0.00 0.00
307,029.80 0.00 0.00 0.00 0.00
510,946.62 0.00 0.00 0.00 0.00
44,076.50 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
Total Time Balance of Scheduled Cash Flows 474,581,504.62 36,649,009.43 9,786,115.16 9,018,555.52 7,417,275.97
</TABLE>
Page 1
<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
<TABLE>
<CAPTION>
<S><C>
Payment Date 15-Oct-99
Collection Period Begin Date 04-Sep-99
Collection Period End Date 05-Oct-99
Days in accrual period (30/360) 30
PART I -- MONTHLY DATA INPUT
Total Receipts During the Period $4,455,726.94
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 $4,455,726.94
Miscellaneous Data
Scheduled Amounts 30 - 59 days past due $794,131.42
Scheduled Amounts 60 days or more past due $722,574.66
Net Losses on Liquidated Receivables $184,688.13
Number of Loans at Beginning of Period 6,030
Number of Loans at End of Period 5,821
Repossessed Equipment not Sold or Reassigned (Beginning) $0.00
Repossessed Equipment not Sold or Reassigned (End) $0.00
Reinvestment Income (including Pre-Funding Account) $68,479.64
Pre-Funding Account Reinvestment Income $0.00
</TABLE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Page 2
<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
<TABLE>
<CAPTION>
<S><C>
Payment Date 15-Oct-99
Collection Period Begin Date 04-Sep-99
Collection Period End Date 05-Oct-99
PART II -- SUMMARY
Total Principal Balance of Notes and Certificates (Beginning of Period) $40,943,947.40
A-1 Note Beginning Principal Balance $0.00
A-2 Note Beginning Principal Balance $15,943,947.40
Certificate Beginning Principal Balance $25,000,000.00
Total Principal Balance of Notes and Certificates (End of Period) $36,740,986.81
A-1 Note Principal Balance (End of Period) $0.00
0.0000000
A-2 Note Principal Balance (End of Period) $11,740,986.81
0.0228869
Certificate Principal Balance (End of Period) $25,000,000.00
1.0000000
Contract Value Decline $4,202,960.59
Pool Balance (Beg. of Collection Period) $63,917,949.97
Pool Balance (End of Collection Period) $59,714,989.38
Total Distribution Amount (TDA) $4,524,206.58
Total Collections and Investment Income for the Period $4,524,206.58
Negative Carry Amount $0.00
Administration Fee Accrued during this Period $166.67
Principal Distribution Amount (PDA) $4,202,960.59
Release from Spread Account to Noteholders as Principal $0.00
A-1 Noteholders' Principal Distributable Amount $0.00
A-2 Noteholders' Principal Distributable Amount $4,202,960.59
Certificateholders' Principal Distributable Amount $0.00
Interest Distributable Amount $321,245.99
Noteholders' Interest Distributable Amount applicable to A-1 Notes $0.00
Noteholders' Interest Distributable Amount applicable to A-2 Notes $73,076.43
Certificateholders' Interest Distributable Amount $121,875.00
Servicing Fees Accrued during this Period $53,264.96
Total Distribution Amount Remaining to Deposit to Spread Account $72,862.94
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 $72,862.94
Distribution from Spread Account for Interest / Principal Shortfall $0.00
Preliminary Spread Account Balance Remaining $12,575,022.96
Specified Spread Account Balance $12,575,022.96
Release from Spread Account to Seller as "Excess Servicing Fee" $0.00
Release from Spread Account to Noteholders as Principal $0.00
Ending Spread Account Balance (after distributions) $12,575,022.96
Credit Enhancement 83.59%
Spread account % of Ending Pool Balance 21.06%
Overcollateralization % of Ending Pool Balance 62.53%
Current Month CPR 28.72%
Life-to-Date CPR 21.80%
Scheduled Amounts 30 - 59 days past due $794,131.42
1.33%
Scheduled Amounts 60 days or more past due $722,574.66
1.21%
Net Losses on Liquidated Receivables $184,688.13
0.31%
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Page 3
<PAGE>
PART III -- SERVICING CALCULATIONS 15-Oct-99
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 $37,709,033.57 $9,817,323.21 $8,987,255.93 $7,404,337.27
Contract Value (End of Collection Period), by origination pool $34,931,734.42 $9,289,501.90 $8,505,503.70 $6,988,249.36
Contract Value Decline $2,777,299.16 $527,821.30 $481,752.23 $416,087.90
Initial Pool Balance $625,108,001.05
Pool Balance (End of Collection Period) $59,714,989.38
Total Collections and Investment Income for the period $4,524,206.58
Negative Carry Amount $0.00
Total Distribution Amount (TDA) $4,524,206.58
Principal Distribution Amount (PDA) $4,202,960.59
Interest Distribution Amount (IDA) $321,245.99
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 $15,943,947.40
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 $4,202,960.59
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 $73,076.43
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 $73,076.43
Interest Accrued on Class A-1 and A-2 Notes this period $73,076.43
Noteholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Noteholders' Interest Distributable Amount $73,076.43
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 $4,524,206.58
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 $4,524,039.91
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 $73,076.43
Noteholders' Interest applicable to A-2 Notes Paid this
Period from TDA $73,076.43
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 $73,076.43
Noteholders' Interest Paid this Period from TDA $73,076.43
Preliminary Noteholders' Interest Carryover Shortfall
(Current Period) $0.00
Total Distribution Amount Remaining $4,450,963.49
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 $4,450,963.49
A-2 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-2 Noteholders' Monthly Principal Distributable Amount $4,202,960.59
A-2 Noteholders' Principal Distributable Amount Paid from TDA $4,202,960.59
Preliminary A-2 Noteholders' Principal Carryover Shortfall
(Current Period) $0.00
Total Distribution Amount Remaining $248,002.90
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 $126,127.90
Certificateholders' Principal Carryover Shortfall (Previous Period) $0.00
Certificateholders' Principal Distributable Amount applicable
to current period $0.00
Page 4
<PAGE>
Certificateholders' Principal Distributable Amount Paid from TDA $0.00
Preliminary Certificateholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $126,127.90
Servicing Fee Shortfall (Previous Period) $0.00
Servicing Fees Accrued during this Period $53,264.96
Servicing Fees Paid this Period from TDA $53,264.96
Servicing Fee Shortfall $0.00
Total Distribution Amount Remaining to Deposit to Spread Acct $72,862.94
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 $72,862.94
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 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 $12,575,022.96
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 $12,575,022.96
Cumulative Realized Losses since 31-January-95 (Cut-off Date) $2,613,882.36
Are Cum. Realized Losses > 2.25% of Initial Pool Balance? NO
12*(Realized Losses during Collection Period + Repos at end of Collection Period) $2,216,257.56
Is 12*Realized Losses + Unliq. Repos > 1.65% of Beg. Pool Balance? YES
60 day or > Delinquent Scheduled Amounts $722,574.66
Are 60 day or > Delinquencies > 2.25% of Ending Pool Balance? NO
Are any of the three conditions "YES"? YES
Case Credit has discovered a systems error in the report used to identify
losses for the trust. The report only identified losses that had been applied
against dealer reserves. It failed to include in the loss figure any losses
that were not covered by dealer reserves. This resulted in an inadvertent and
immaterial understatement of losses in the monthly servicer reports for years
prior to 1999. The systems error had no impact on historical loss figures
reflected in the prospectuses for the ABS transactions, which were generated
separately and were accurate.
As a result of the systems error, Case Credit incorrectly absorbed the losses
that were not included in the monthly servicer reports through its on-book
reserves. Case Credit will not charge these losses back to the trust. The
cumulative amount of losses that were inadvertently absorbed by Case Credit
that should have been charged to the trust was: $144,726.86
If the monthly servicer reports for the trust were restated, the cumulative
loss test would still have been met as indicated below:
Restated Cumulative Realized Losses: $2,758,609.22
Are Cumulative Realized Losses > 2.25% of the Initial Pool Balance? NO
Preliminary A-1 Note Principal Balance (End of Period) $0.00
Preliminary A-2 Note Principal Balance (End of Period) $11,740,986.81
Preliminary Certificate Principal Balance (End of Period) $25,000,000.00
Preliminary Total Principal Balance of Notes and Certificates (End of Period) $36,740,986.81
Specified Spread Account Balance $12,575,022.96
Greater of:
(a) 3.75% of Pool Balance at end of Collection Period; and $2,239,312.10
(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 < = 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 < = 96.25% of Pool Balance) $12,502,160.02
Preliminary Spread Account Balance Remaining $12,575,022.96
Preliminary Excess Amount in Spread Account $0.00
Release from Spread Account to Seller as "Excess Servicing Fee" $0.00
Release from Spread Account to Noteholders as Principal $0.00
Ending Spread Account Balance (after distributions) $12,575,022.96
Net Change in Spread Account Balance $72,862.94
Page 5
<PAGE>
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) $11,740,986.81
Certificate Principal Balance (End of Period) $25,000,000.00
Total Principal Balance of Notes and Certificates (End of Period) $36,740,986.81
A-1 Note Pool Factor (End of Period) 0.0000000
A-2 Note Pool Factor (End of Period) 0.0228869
Certificate Pool Factor (End of Period) 1.0000000
Total Notes & Certificates Pool Factor (End of Period) 0.0587856
Specified Spread Account Balance (after all distributions and adjustments) $12,575,022.96
</TABLE>
Page 6
<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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(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: $4,202,960.59
per $1,000 original principal amount: $8.19290563
(c) Total $4,202,960.59
(2) Interest on the Notes
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00000000
(b) A-2 Notes: $73,076.43
per $1,000 original principal amount: $0.14244917
(c) Total $73,076.43
(3) Pool Balance at the end of the related Collection Period $59,714,989.38
(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: $11,740,986.81
(ii) A-2 Note Pool Factor: 0.0228869
(c) (i) Certificate Balance $25,000,000.00
(ii) Certificate Pool Factor: 1.0000000
(5) Amount of Servicing Fee: $53,264.96
per $1,000 Initial Pool Balance: 0.08520921
(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: $184,688.13
(9) Amount in Spread Account: $12,575,022.96
(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
</TABLE>
Page 7
<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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(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: $4,202,960.59
per $1,000 original principal amount: $8.19290563
(c) Certificates: $0.00
per $1,000 original principal amount: $0.00000000
(d) Total: $4,202,960.59
(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: $73,076.43
per $1,000 original principal amount: $0.14244917
(c) Certificates: $121,875.00
per $1,000 original principal amount: $4.87500000
(d) Total: $194,951.43
(3) Pool Balance at end of related Collection Period: $59,714,989.38
(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: $11,740,986.81
(ii) A-2 Note Pool Factor: 0.0228869
(c) (i) Certificate Balance $25,000,000.00
(ii) Certificate Pool Factor: 1.0000000
(5) Amount of Servicing Fee: $53,264.96
per $1,000 Initial Pool Balance: $0.08520921
(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: $184,688.13
(9) Amount in Spread Account: $12,575,022.96
(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
</TABLE>
Page 8
<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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(1) Payment of Administration Fee to Administrator: $166.67
(2) Noteholders' Interest Distributable Amount to be
deposited into Noteholders' Distribution Account: $73,076.43
(3) Noteholders' Principal Distributable Amount to be
deposited into Noteholders' Distribution Account: $4,202,960.59
(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: $53,264.96
(7) Deposit to Spread Account from Excess Collections over Distributions: $72,862.94
Check for Spread Account Draw NO
Sum of Above Distributions $4,524,206.58
Total Distribution Amount plus Turbo plus Spread Account Draw $4,524,206.58
</TABLE>
Page 9
<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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(1) Total Distribution Amount: $4,524,206.58
(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: $73,076.43
(6) Noteholders' Interest Carryover Shortfall applicable to A-2 Notes: $0.00
(7) Noteholders' Interest Distributable Amount: $73,076.43
(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: $4,202,960.59
(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: $4,202,960.59
(16) Noteholders' Principal Distributable Amount: $4,202,960.59
(17) Noteholders' Distributable Amount: $4,276,037.01
(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: $53,264.96
(26) Deposit to Spread Account (from excess collections): $72,862.94
(27) Specified Spread Account Balance (after all distributions and adjustments) : $12,575,022.96
The greater of:
(a) 3.75% of the Pool Balance at the beginning of the Collection Period
in which the Payment Date occurs; and $2,239,312.10
(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 < = 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 < = 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: $2,613,882.36
(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: $2,216,257.56
(ii) 1.65% of the Pool Balance at the beginning of the Collection Period: $1,054,646.17
(c) (i) Aggregate Scheduled Payments delinquent by more than 60 days
as of the end of the related Collection Period: $722,574.66
(ii) 2.25% of the Pool Balance at the beginning of the Collection Period
in which the Payment Date occurs: $1,343,587.26
(29) Spread Account Balance over the Specified Spread Account Balance: $0.00
(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: $59,714,989.38
Page 10
<PAGE>
(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: $11,740,986.81
A-2 Note Pool Factor: 0.0228869
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: $184,688.13
(37) Spread Account Balance after giving effect to all distributions: $12,575,022.96
(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: $147,113,069.85
(39) Number of Collection Periods since Completion of Funding Period 44
(40) Current Month CPR 28.72%
(41) Life-to-Date CPR 21.80%
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 11
<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
<TABLE>
<CAPTION>
<S><C>
26-Oct-99
10:21 AM
Prepared by Lisa Sorenson, Phone 414-636-6184 File: service\us96b.xls
NPV Data Input Section IRR Calc (pool 1) 31-Aug-96 05-Oct-99
Scheduled cash flows as of the 8.309% Pool 1 Cutoff Pool 1
end of the collection period (467,425,285.55) 1,472,181.16 3,152,274.17
Line 0 is scheduled amount 15,757,657.24 14,285,476.08 3,314,934.58
delinquent 10,488,530.06 10,488,530.06 4,438,401.07
11,648,174.21 11,648,174.21 4,213,170.32
13,676,813.20 13,676,813.20 3,101,734.40
9,531,315.06 9,531,315.06 2,765,049.40
8,372,935.20 8,372,935.20 4,054,890.52
11,722,851.90 11,722,851.90 6,590,321.91
17,207,560.18 17,207,560.18 4,601,168.12
14,691,800.81 14,691,800.81 4,454,729.60
17,197,279.08 17,197,279.08 4,292,884.00
15,504,490.86 15,504,490.86 2,726,383.00
11,904,998.66 11,904,998.66 841,957.12
7,211,819.84 7,211,819.84 1,034,214.18
8,633,057.26 8,633,057.26 1,498,129.32
10,443,070.12 10,443,070.12 1,467,770.95
11,720,349.94 11,720,349.94 881,267.88
8,564,089.35 8,564,089.35 738,451.81
7,479,246.64 7,479,246.64 1,462,996.79
10,611,284.66 10,611,284.66 2,563,444.49
16,496,614.28 16,496,614.28 1,503,066.93
14,115,082.64 14,115,082.64 1,659,563.08
16,562,222.16 16,562,222.16 1,263,174.25
14,840,653.37 14,840,653.37 649,967.40
11,271,867.97 11,271,867.97 184,761.00
6,644,313.99 6,644,313.99 173,210.92
7,693,316.20 7,693,316.20 196,860.10
9,795,133.28 9,795,133.28 131,785.50
10,958,156.04 10,958,156.04 86,568.45
8,033,198.42 8,033,198.42 28,992.18
7,001,521.70 7,001,521.70 214,011.20
10,001,306.67 10,001,306.67 143,784.71
15,686,375.93 15,686,375.93 28,255.69
13,305,308.18 13,305,308.18 91,017.61
15,253,592.56 15,253,592.56 5,560.22
13,439,340.18 13,439,340.18 0.00
9,627,709.80 9,627,709.80 9,386.14
4,845,435.52 4,845,435.52 26,826.02
5,846,192.76 5,846,192.76 0.00
7,626,986.55 7,626,986.55 0.00
8,420,026.39 8,420,026.39 0.00
6,063,594.56 6,063,594.56 0.00
5,223,953.51 5,223,953.51 0.00
7,797,581.78 7,797,581.78 0.00
12,241,335.77 12,241,335.77 0.00
8,547,844.85 8,547,844.85 0.00
9,171,743.38 9,171,743.38 0.00
8,838,821.22 8,838,821.22 0.00
5,892,614.25 5,892,614.25 0.00
1,524,196.03 1,524,196.03 0.00
2,155,353.95 2,155,353.95 0.00
2,948,921.29 2,948,921.29 0.00
3,471,809.78 3,471,809.78 0.00
1,939,596.57 1,939,596.57 0.00
1,711,213.57 1,711,213.57 0.00
3,365,677.46 3,365,677.46 0.00
5,657,510.12 5,657,510.12 0.00
3,605,516.92 3,605,516.92 0.00
3,745,028.73 3,745,028.73 0.00
3,458,411.68 3,458,411.68 0.00
1,765,194.32 1,765,194.32 0.00
308,041.89 308,041.89 0.00
231,422.23 231,422.23 0.00
276,666.19 276,666.19 0.00
336,307.15 336,307.15 0.00
135,733.57 135,733.57 0.00
82,298.61 82,298.61 0.00
356,451.64 356,451.64 0.00
354,314.13 354,314.13 0.00
125,457.56 125,457.56 0.00
223,408.04 223,408.04 0.00
26,132.80 26,132.80 0.00
0.00 0.00 0.00
0.00 0.00 0.00
Total Time Balance of Scheduled Cash Flows 551,413,832.41 551,413,832.41 64,590,965.03
NPV Data Input Section 05-Oct-99 5-Oct-99 5-Oct-99 5-Oct-99 5-Oct-99
Scheduled cash flows as of the Pool 2 Pool 3 Pool 4 Pool 5 Pool 6
end of the collection period 8,109.75 1,740,009.48 2,858,384.71 1,001,561.89 16,928.96
Line 0 is scheduled amount 5,626.36 857,461.73 3,121,562.75 5,617,331.45 69,651.14
delinquent 5,389.93 1,061,983.30 1,106,128.09 2,857,261.58 236,500.67
0.00 990,755.85 964,931.68 1,003,756.89 195,939.62
0.00 644,179.67 697,914.71 581,699.77 38,006.22
0.00 652,199.72 669,942.92 535,965.13 31,093.81
0.00 492,454.93 625,614.83 534,541.37 62,040.74
0.00 430,450.86 583,253.87 669,249.05 62,817.70
0.00 392,099.99 500,762.55 515,982.66 39,593.61
0.00 405,056.34 581,373.01 627,520.22 37,415.21
0.00 602,054.60 730,266.60 606,083.09 41,899.91
0.00 3,700,088.60 1,555,330.73 988,702.02 58,787.66
0.00 1,718,368.21 4,011,328.22 927,821.60 37,415.21
0.00 462,371.55 2,287,284.84 4,559,767.41 59,673.68
0.00 484,150.73 632,599.49 2,107,654.72 154,865.61
0.00 466,867.99 422,452.44 473,491.93 175,490.37
0.00 225,907.67 290,106.29 184,085.31 8,694.66
0.00 176,970.56 234,958.05 169,049.76 5,088.47
0.00 176,086.72 195,056.36 170,133.04 5,088.47
0.00 115,454.55 159,910.19 177,852.09 33,554.60
0.00 76,955.01 125,795.29 103,227.35 6,949.46
0.00 91,859.23 152,779.09 205,138.47 6,949.46
0.00 177,141.73 244,206.45 160,161.10 6,949.46
0.00 1,627,376.90 740,260.07 305,714.21 6,948.46
0.00 685,218.17 1,471,859.91 347,278.41 6,177.45
0.00 179,740.53 996,494.04 1,716,227.86 27,697.96
0.00 106,861.65 302,667.41 1,059,571.21 58,270.12
0.00 135,676.55 87,569.48 185,846.75 59,184.74
0.00 24,385.28 91,733.86 635.46 0.00
0.00 21,930.87 16,249.46 8,545.56 0.00
0.00 358.23 29,437.44 13,046.92 0.00
0.00 0.00 1,178.75 5,510.60 0.00
0.00 0.00 1,178.75 635.46 0.00
0.00 0.00 1,178.75 21,835.04 0.00
0.00 21,298.59 1,178.75 635.46 0.00
0.00 36,160.88 68,577.77 16,637.71 0.00
0.00 0.00 47,688.74 113,652.92 0.00
0.00 0.00 0.00 129,617.15 12,875.66
0.00 0.00 13,719.07 30,987.12 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
Total Time Balance of Scheduled Cash Flows 19,126.04 18,979,936.67 26,622,915.41 28,734,415.74 1,562,549.09
</TABLE>
Page 1
<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
<TABLE>
<CAPTION>
<S><C>
Prepared by Lisa Sorenson, Phone 414-636-6184 10/27/99
04:13 PM
Payment Date 15-Oct-99
Collection Period Begin Date 04-Sep-99
Collection Period End Date 31-Aug-96 05-Oct-99
Days in accrual period (30/360) 30
PART I -- MONTHLY DATA INPUT
Total Receipts During the Period $14,665,831.37
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 $14,665,831.37
Miscellaneous Data
Scheduled Amounts 30 - 59 days past due $2,371,944.10
Scheduled Amounts 60 days or more past due $2,229,929.17
Net Losses on Liquidated Receivables $291,511.63
Number of Loans at Beginning of Period 11,993
Number of Loans at End of Period 11,125
Repossessed Equipment not Sold or Reassigned (Beginning) $0.00
Repossessed Equipment not Sold or Reassigned (End) $0.00
Reinvestment Income (including Pre-Funding Account) $119,311.23
Pre-Funding Account Reinvestment Income $0.00
Additional Class B Notes (max $75,000,000) $0.00
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Page 2
<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
<TABLE>
<CAPTION>
<S><C>
Payment Date 15-Oct-99
Collection Period Begin Date 04-Sep-99
Collection Period End Date 05-Oct-99
PART II -- SUMMARY
Total Principal Balance of Notes and Certificates (Beginning of Period) $126,864,363.85
A-1 Note Beginning Principal Balance $0.00
A-2 Note Beginning Principal Balance $0.00
A-3 Note Beginning Principal Balance $95,709,259.50
B Note Beginning Principal Balance $7,272,740.08
Certificate Beginning Principal Balance $23,882,364.26
Total Principal Balance of Notes and Certificates (End of Period) $112,911,477.65
A-1 Note Principal Balance (End of Period) $0.00
0.0000000
A-2 Note Principal Balance (End of Period) $0.00
0.0000000
A-3 Note Principal Balance (End of Period) $83,258,186.33
0.2530644
B Note Principal Balance (End of Period) $6,326,609.90
0.2530644
Certificate Principal Balance (End of Period) $23,326,681.42
0.6860789
Contract Value Decline $13,892,071.01
Pool Balance (Beg. of Collection Period) 145,076,777.58
Pool Balance (End of Collection Period) $131,184,706.57
Total Distribution Amount (TDA) $14,785,142.60
Total Collections and Investment Income for the Period $14,785,142.60
Negative Carry Amount $0.00
Administration Fee Accrued during this Period $166.67
Principal Distribution Amount (PDA) $13,892,071.01
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 $56,520.33
Release from Spread Account to B Noteholders as Principal $4,294.86
A-1 Noteholders' Principal Distributable Amount $0.00
A-2 Noteholders' Principal Distributable Amount $0.00
A-3 Noteholders' Principal Distributable Amount $12,394,552.85
B Noteholders' Principal Distributable Amount $941,835.32
Certificateholders' Principal Distributable Amount $555,682.84
Interest Distributable Amount $711,192.43
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 $530,388.81
Noteholders' Interest Distributable Amount applicable to B Notes $42,484.92
Certificateholders' Interest Distributable Amount $138,318.69
Servicing Fees Accrued during this Period $120,897.31
Total Distribution Amount Remaining to Deposit to Spread Account $60,815.18
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 $60,815.18
Distribution from Spread Account for Interest / Principal Shortfall $0.00
Preliminary Spread Account Balance Remaining $17,578,608.34
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 29.54%
Spread account % of Ending Pool Balance 13.35%
Overcollateralization % of Ending Pool Balance 16.18%
Life-to-Date CPR 23.42%
Scheduled Amounts 30 - 59 days past due $2,371,944.10
1.81%
Scheduled Amounts 60 days or more past due $2,229,929.17
1.70%
Net Losses on Liquidated Receivables $291,511.63
0.22%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Page 3
<PAGE>
PART III -- SERVICING CALCULATIONS 15-Oct-99
1. Sources and Uses of Collection Account Balance Pool 1 Cutoff Pool 1 Pool 2 Pool 3
Wtd. Avg. APR 8.310% 8.310% 6.782% 9.186%
Contract Value (Beg. of Collection Period), by origination pool $65,053,749.48 $18,932.08 $21,272,219.98
Contract Value (End of Collection Period), by origination pool $467,425,285.55 $60,745,772.02 $19,034.01 $17,549,415.59
Contract Value Decline $4,307,977.46 ($101.93) $3,722,804.39
Initial Pool Balance $875,889,658.01 13,892,071.01
Pool Balance (End of Collection Period) $131,184,706.57
1. Sources and Uses of Collection Account Balance Pool 4 Pool 5 Pool 6
Wtd. Avg. APR 9.025% 9.089% 8.864%
Contract Value (Beg. of Collection Period), by origination pool $29,067,390.33 $28,162,928.90 $1,501,556.81
Contract Value (End of Collection Period), by origination pool $24,710,435.97 $26,708,301.28 $1,451,747.70
Contract Value Decline $4,356,954.36 $1,454,627.62 $49,809.11
Initial Pool Balance
Pool Balance (End of Collection Period)
Total Collections and Investment Income for the period $14,785,142.60
Negative Carry Amount $0.00
Total Distribution Amount (TDA) $14,785,142.60
Principal Distribution Amount (PDA) $13,892,071.01
Interest Distribution Amount (IDA) $893,071.59
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 $95,709,259.50
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 $12,394,552.85
B Note Beginning Principal Balance $7,272,740.08
B Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
B Noteholders' Share of the Principal Distribution Amount 6.78%
B Noteholders' Principal Distributable Amount $941,835.32
Certificate Beginning Principal Balance $23,882,364.26
Certificateholders' Principal Carryover Shortfall (Previous Period) $0.00
Certificateholders' Share of the Principal Distribution Amount 4.00%
Certificateholders' Principal Distributable Amount $555,682.84
Interest Accrued on Class A-1 Notes this period 5.5625% $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 6.25% $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 6.65% $530,388.81
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 $530,388.81
Interest Accrued on Class A-1, A-2 and A-3 Notes this period $530,388.81
Offered Noteholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Offered Noteholders' Interest Distributable Amount $530,388.81
Interest Accrued on Class B Notes this period 7.01% $42,484.92
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 $42,484.92
Interest Accrued on Certificates this period 6.95% $138,318.69
Certificateholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on Above Shortfall $0.00
Certificateholders' Interest Distributable Amount $138,318.69
3. Allocation of Total Distribution Amount
Total Distribution Amount $14,785,142.60
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 $14,784,975.93
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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 $530,388.81
Noteholders' Interest applicable to A-3 Notes Paid this Period from TDA $530,388.81
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 $530,388.81
Offered Noteholders' Interest Paid this Period from TDA $530,388.81
Preliminary Noteholders' Interest Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $14,254,587.12
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 $14,254,587.12
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 $14,254,587.12
A-3 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-3 Noteholders' Monthly Principal Distributable Amount $12,394,552.85
A-3 Noteholders' Principal Distributable Amount Paid from TDA $12,394,552.85
Preliminary A-3 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $1,860,034.27
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 $42,484.92
Noteholders' Interest applicable to B Notes Paid this Period from TDA $42,484.92
Preliminary Noteholders' Interest Carryover Shortfall (Current Period)
applicable to B Notes $0.00
Total Distribution Amount Remaining $1,817,549.35
B Noteholders' Principal Distributable Amount $0.00
B Noteholders' Monthly Principal Distributable Amount $941,835.32
B Noteholders' Principal Distributable Amount Paid from TDA $941,835.32
Preliminary B Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $875,714.03
Certificateholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on Above Shortfall $0.00
Interest Accrued on Certificates this period $138,318.69
Certificateholders' Interest Paid this Period from TDA $138,318.69
Preliminary Certificateholders' Interest Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $737,395.33
Certificateholders' Principal Carryover Shortfall (Previous Period) $0.00
Certificateholders' Principal Distributable Amount applicable to current period $555,682.84
Certificateholders' Principal Distributable Amount Paid from TDA $555,682.84
Preliminary Certificateholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $181,712.49
Servicing Fee Shortfall (Previous Period) $0.00
Servicing Fees Accrued during this Period 1.00% $120,897.31
Servicing Fees Paid this Period from TDA $120,897.31
Servicing Fee Shortfall $0.00
Total Distribution Amount Remaining to Deposit to Spread Acct $60,815.18
4. Reconciliation of Pre-Funding Account
Beginning Pre-Funding Account Balance $0.00
New Collateral Purchased $0.00
Deposit to Spread Account 3.75% $0.00
Payment to Seller $0.00
Ending Pre-Funding Account Balance $0.00
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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 $60,815.18
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 $17,578,608.34
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 $17,578,608.34
Cumulative Realized Losses since 31-August-96 (Cut-off Date) $3,939,149.88
Are Cum. Realized Losses > 2.25% of Initial Pool Balance? NO
12*(Realized Losses during Collection Period + Repos at end of Collection Period) $3,498,139.56
Is 12*Realized Losses + Unliq. Repos > 1.65% of Beg. Pool Balance? YES
60 day or > Delinquent Scheduled Amounts $2,229,929.17
Are 60 day or > Delinquencies > 2.25% of Ending Pool Balance? NO
Are any of the three conditions "YES"? YES
Case Credit has discovered a systems error in the report used to identify
losses for the trust. The report only identified losses that had been applied
against dealer reserves. It failed to include in the loss figure any losses
that were not covered by dealer reserves. This resulted in an inadvertent and
immaterial understatement of losses in the monthly servicer reports for years
prior to 1999. The systems error had no impact on historical loss figures
reflected in the prospectuses for the ABS transactions, which were generated
separately and were accurate.
As a result of the systems error, Case Credit incorrectly absorbed the losses
that were not included in the monthly servicer reports through its on-book
reserves. Case Credit will not charge these losses back to the trust. The
cumulative amount of losses that were inadvertently absorbed by Case Credit
that should
have been charged to the trust was: 642,178.54
If the monthly servicer reports for the trust were restated, the cumulative
loss test would still have been met as indicated below:
Restated Cumulative Realized Losses: 4,581,328.42
Are Cumulative Realized Losses > 2.25% of the Initial Pool Balance? 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) $83,314,706.65
Preliminary B Note Principal Balance (End of Period) $6,330,904.76
Preliminary Certificate Principal Balance (End of Period) $23,326,681.42
Preliminary Total Principal Balance of Notes and Certificates (End of Period) $112,972,292.84
Specified Spread Account Balance $17,517,793.16
Greater of:
(a) 3.75% of Pool Balance at end of Collection Period; and 3.75% $4,919,426.50
(b)(i) 2.50% of Initial Pool Balance (Until Outstanding Note and
Certificate Balance = Spread Account), or 2.50% $21,897,241.45
(b)(ii) 2.25% of Initial Pool Balance (when principal amount of Notes
and Certificates < = 97.50% of Pool Balance), or 2.25% $19,707,517.31
(b)(iii) 2.00% of Initial Pool Balance (when principal amount of Notes
and Certificates < = 96.25% of Pool Balance) 2.00% $17,517,793.16
Preliminary Spread Account Balance Remaining $17,578,608.34
Preliminary Excess Amount in Spread Account $60,815.18
Release from Spread Account to Seller as "Excess Servicing Fee" Turbo Date $0.00
Release from Spread Account to A-1 Noteholders as Principal 15-Jul-97 $0.00
Release from Spread Account to A-2 Noteholders as Principal $0.00
Release from Spread Account to A-3 Noteholders as Principal $56,520.33
Release from Spread Account to B Noteholders as Principal $4,294.86
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) $83,258,186.33
B Note Principal Balance (End of Period) $6,326,609.90
Certificate Principal Balance (End of Period) $23,326,681.42
Total Principal Balance of Notes and Certificates (End of Period) $112,911,477.65
A-1 Note Pool Factor (End of Period) $125,000,000.00 0.0000000
A-2 Note Pool Factor (End of Period) $362,000,000.00 0.0000000
A-3 Note Pool Factor (End of Period) $329,000,000.00 0.2530644
B Note Pool Factor (End of Period) $25,000,000.00 0.2530644
Certificate Pool Factor (End of Period) $34,000,000.00 0.6860789
Total Notes & Certificates Pool Factor (End of Period) 0.1290417
Specified Spread Account Balance (after all distributions and adjustments) $17,517,793.16
</TABLE>
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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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(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: $12,451,073.17
per $1,000 original principal amount: $37.84520721
(d) B Notes: $946,130.18
per $1,000 original principal amount: $37.84520721
(e) Total $13,397,203.35
(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: $530,388.81
per $1,000 original principal amount: $1.61212405
(d) B Notes: $42,484.92
per $1,000 original principal amount: $1.69939693
(e) Total $572,873.74
(3) Pool Balance at the end of the related Collection Period $131,184,706.57
(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: $83,258,186.33
(ii) A-3 Note Pool Factor: $0.2530644
(d) (i) outstanding principal amount of A-3 Notes: $6,326,609.90
(ii) A-3 Note Pool Factor: $0.2530644
(e) (i) Certificate Balance $23,326,681.42
(ii) Certificate Pool Factor: 0.6860789
(5) Amount of Servicing Fee: $120,897.31
per $1,000 Beginning of Collection Period: 0.13802801
(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: $291,511.63
(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
</TABLE>
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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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(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: 12,451,073.17
per $1,000 original principal amount: 37.84520721
(d) B Notes: 946,130.18
per $1,000 original principal amount: 37.84520721
(e) Certificates: $555,682.84
per $1,000 original principal amount: $16.34361295
(f) Total: $13,952,886.19
(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: $530,388.81
per $1,000 original principal amount: $1.61212405
(d) B Notes: $42,484.92
per $1,000 original principal amount: $1.69939693
(e) Certificates: $138,318.69
per $1,000 original principal amount: $4.06819685
(f) Total: $711,192.43
(3) Pool Balance at end of related Collection Period: $131,184,706.57
(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: $83,258,186.33
(ii) A-3 Note Pool Factor: 0.2530644
(d) (i) outstanding principal amount of B Notes: $6,326,609.90
(ii) B Note Pool Factor: 0.2530644
(e) (i) Certificate Balance $23,326,681.42
(ii) Certificate Pool Factor: 0.6860789
(5) Amount of Servicing Fee: $120,897.31
per $1,000 Beginning of Collection Period: $0.13802801
(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: $291,511.63
(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
</TABLE>
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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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(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: $572,873.74
(3) Noteholders' Principal Distributable Amount to be
deposited into Noteholders' Distribution Account: $13,397,203.35
(4) Certificateholders' Interest Distributable Amount to be
deposited into Certificateholders' Distribution Account: $138,318.69
(5) Certificateholders' Principal Distributable Amount to be
deposited into Certificateholders' Distribution Account: $555,682.84
(6) Payment of Servicing Fee to Servicer: $120,897.31
(7) Deposit to Spread Account from Excess Collections over Distributions: $60,815.18
Check for Error NO ERROR
Sum of Above Distributions $14,845,957.78
Total Distribution Amount plus Turbo $14,845,957.78
</TABLE>
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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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(1) Total Distribution Amount: $14,785,142.60
(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: $530,388.81
(8) Noteholders' Interest Carryover Shortfall applicable to A-3 Notes: $0.00
(9) Noteholders' Interest Distributable Amount applicable to B Notes: $42,484.92
(10) Noteholders' Interest Carryover Shortfall applicable to B Notes: $0.00
(11) Offered Noteholders' Interest Distributable Amount & Class B Noteholders' $572,873.74
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: $12,394,552.85
(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: $12,451,073.17
(24) B Noteholders' Monthly Principal Distributable Amount: $941,835.32
(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: $946,130.18
(28) Noteholders' Principal Distribution Amount: $13,397,203.35
(29) Noteholders' Distributable Amount: $13,970,077.09
(30) Certificateholders' Interest Distributable Amount: $138,318.69
(31) Certificateholders' Interest Carryover Shortfall: $0.00
(32) Certificateholders' Percentage: 4.00%
(33) Certificateholders' Principal Distributable Amount applicable to current period $555,682.84
(34) Certificateholders' Principal Carryover Shortfall: $0.00
(35) Certificateholders' Principal Distributable Amount: $555,682.84
(36) Certificateholders' Distributable Amount: $694,001.53
(37) Servicing Fee: $120,897.31
(38) Deposit to Spread Account (from excess collections): $60,815.18
Page 10
<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 $4,919,426.50
(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 < = 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 < = 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: $3,939,149.88
(ii) 2.25% of the Initial Pool Balance: 2.25% $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: $3,498,139.56
(ii) 1.65% of the Pool Balance at the beginning of the Collection Period: 1.65% $2,368,991.14
(c) (i) Aggregate Scheduled Payments delinquent by more than 60 days
as of the end of the related Collection Period: $2,229,929.17
(ii) 2.25% of the Pool Balance at the beginning of the Collection Period
in which the Payment Date occurs: 2.25% $2,918,991.57
(41) Spread Account Balance over the Specified Spread Account Balance: $60,815.18
(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: $131,184,706.57
(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: $83,258,186.33
A-3 Note Pool Factor: 0.2530644
Outstanding Principal Balance of B Notes: $6,326,609.90
B Note Pool Factor: 0.2530644
Outstanding Principal Balance of the Certificates: $23,326,681.42
Certificate Pool Factor: 0.6860789
(47) Aggregate Purchase Amounts for related Collection Period: $0.00
(48) Aggregate Amount of Realized Losses for the related Collection Period: $291,511.63
(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: $3,661,949.95
(51) Number of Collection Periods since Completion of Funding Period 37
(53) Life-to-Date (From Jan-97 Collection Period) CPR 23.42%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
</TABLE>
Page 11
<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
06:00 PM
Prepared by Lisa Sorenson, Phone 414-636-6184 File: us97a.xls
<TABLE>
<CAPTION>
<S><C>
----------------------------------------------------------------------------------
NPV Data Input Section 28-Feb-97 05-Oct-99 05-Oct-99 05-Oct-99 05-Oct-99
----------------------------------------------------------------------------------
Scheduled cash flows as of the Pool 1 Cutoff Pool 1 Pool 2 Pool 3 Pool 4
end of the collection period - 2,754,853.04 600,715.72 1,332,377.09 882,008.84
Line 0 is scheduled amount 6,224,948.06 3,100,502.73 633,867.69 1,106,125.84 1,089,476.59
delinquent 4,087,399.27 6,071,938.32 956,194.55 1,409,128.95 1,130,008.63
4,191,051.44 10,550,034.21 1,196,251.84 1,477,446.26 1,322,557.43
4,860,539.72 7,718,091.68 1,105,775.14 1,264,672.64 1,009,807.28
4,890,016.88 3,853,849.54 4,454,140.70 1,389,206.59 822,895.61
8,243,609.27 1,747,125.29 3,092,925.78 7,108,065.57 1,448,802.44
4,447,750.58 1,458,313.85 387,962.44 2,507,221.99 5,012,776.11
6,498,644.13 1,606,248.76 412,044.21 596,317.78 1,554,796.05
14,972,196.07 1,648,307.64 432,518.01 643,848.94 640,084.23
23,007,915.80 1,668,886.61 469,283.76 750,556.56 579,654.95
15,613,409.45 1,928,721.71 544,009.80 845,495.80 561,582.59
7,785,366.54 1,637,278.61 506,055.25 666,228.68 608,194.43
3,880,079.26 2,247,097.05 394,947.42 688,232.95 727,900.36
3,600,829.31 4,933,270.33 627,059.29 810,966.70 773,913.66
3,835,204.18 8,767,007.36 812,769.15 918,171.83 952,592.71
4,406,106.30 5,264,920.78 800,122.70 854,685.39 761,094.40
4,331,724.09 2,166,962.02 2,880,281.39 826,284.51 579,217.79
7,068,300.66 652,947.92 1,821,547.35 4,040,046.75 954,544.16
3,940,812.53 384,258.44 97,826.96 1,357,210.47 2,692,697.41
6,159,747.89 499,329.41 105,637.92 174,760.48 845,202.51
14,561,634.89 515,535.70 111,315.55 200,815.27 192,011.68
22,594,768.79 516,360.26 148,179.38 201,324.77 138,197.53
15,235,344.04 634,574.57 207,607.66 386,740.91 135,540.44
7,445,650.52 643,014.50 125,482.90 210,403.08 176,361.15
3,579,468.36 835,870.01 76,097.07 225,396.82 192,214.73
3,299,938.35 2,311,607.53 194,026.25 250,158.21 237,006.76
3,563,571.09 5,117,112.46 410,670.15 359,698.69 289,977.24
3,983,635.33 2,810,360.67 398,223.41 416,961.67 284,748.51
4,043,413.87 961,435.69 1,372,600.47 359,659.59 138,074.35
6,668,398.88 99,271.49 830,281.70 2,015,038.95 372,403.59
3,721,394.41 7,196.42 2,540.13 568,817.60 1,303,573.85
5,930,985.23 39,230.61 2,250.64 36,775.45 339,350.65
14,048,509.71 14,356.23 25,369.20 34,332.55 38,504.43
21,617,434.15 47,941.31 0.00 28,033.61 1,013.53
14,319,031.03 8,933.99 55,264.82 51,626.76 12,424.09
6,622,218.98 90,434.08 39,162.38 22,299.64 17,341.47
2,794,527.41 229,189.95 0.00 55,730.44 26,766.74
2,537,050.75 235,383.93 0.00 18,636.70 673.13
2,704,903.39 206,263.22 15,465.97 34,101.19 6,265.18
3,060,906.46 30,586.53 41,797.19 0.00 105,359.76
3,177,927.21 10,510.96 74,792.25 35,238.87 673.13
5,473,838.49 0.00 11,420.11 42,142.50 51,861.78
2,780,181.99 0.00 0.00 0.00 42,250.21
4,848,252.59 0.00 0.00 0.00 0.00
12,421,394.48 0.00 0.00 0.00 0.00
19,846,926.73 0.00 0.00 0.00 0.00
10,668,299.66 0.00 0.00 0.00 0.00
4,018,932.10 0.00 0.00 0.00 0.00
999,620.21 0.00 0.00 5,516.38 0.00
715,596.94 0.00 0.00 0.00 0.00
729,463.38 0.00 0.00 0.00 0.00
978,501.21 0.00 0.00 0.00 0.00
1,067,113.54 0.00 0.00 0.00 0.00
2,553,275.87 0.00 0.00 0.00 0.00
800,506.74 0.00 0.00 0.00 0.00
2,078,844.49 0.00 0.00 0.00 0.00
7,648,805.10 0.00 0.00 0.00 0.00
12,223,538.12 0.00 0.00 0.00 0.00
6,284,273.88 0.00 0.00 0.00 0.00
1,911,175.78 0.00 0.00 0.00 0.00
92,369.69 0.00 0.00 0.00 0.00
41,527.82 0.00 0.00 0.00 0.00
38,987.30 0.00 0.00 0.00 0.00
13,226.62 0.00 0.00 0.00 0.00
99,942.27 0.00 0.00 0.00 0.00
66,826.08 0.00 0.00 0.00 0.00
60,733.30 0.00 0.00 0.00 0.00
655,358.90 0.00 0.00 0.00 0.00
584,135.41 0.00 0.00 0.00 0.00
430,830.03 0.00 0.00 0.00 0.00
139,155.22 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
Total Time Balance of Scheduled Cash Flows 86,025,115.41 26,474,484.30 36,326,501.42 29,052,402.11
</TABLE>
Page 1
<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
<TABLE>
<CAPTION>
<S><C>
Prepared by Lisa Sorenson, Phone 414-636-6184 10/27/99
06:00 PM
Payment Date 15-Oct-99
Collection P 04-Sep-99
Collection P 28-Feb-97 05-Oct-99
Days in accrual period (30/360) 30
PART I -- MONTHLY DATA INPUT
Total Receipts During the Period $8,143,796.64
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 $8,143,796.64
Miscellaneous Data
Scheduled Amounts 30 - 59 days past due $1,342,492.05
Scheduled Amounts 60 days or more past due $2,185,154.32
Net Losses on Liquidated Receivables $149,023.54
Number of Loans at Beginning of Period 11,736
Number of Loans at End of Period 11,541
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) $81,405.27
Pre-Funding Account Reinvestment Income $0.00
</TABLE>
Page 2
<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
<TABLE>
<CAPTION>
<S><C>
Payment Date 15-Oct-99
Collection Period Begin Date 04-Sep-99
Collection Period End Date 05-Oct-99
PART II -- SUMMARY
Total Principal Balance of Notes and Certificates (Beginning of Period) $170,756,185.71
A-1 Note Beginning Principal Balance $0.00
A-2 Note Beginning Principal Balance $0.00
A-3 Note Beginning Principal Balance $133,381,185.71
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) $163,672,770.20
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) $126,297,770.20
A-3 Note Pool Factor (End of Period) 0.4874009
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 $7,083,415.51
Pool Balance (Beg. of Collection Period) $170,761,404.80
Pool Balance (End of Collection Period) $163,677,989.29
Total Distribution Amount (TDA) $8,225,201.91
Total Collections and Investment Income for the Period $8,225,201.91
Negative Carry Amount $0.00
Administration Fee Accrued during this Period ($500 per Quarter) $166.67
Principal Distribution Amount (PDA) $7,083,415.51
Principal Allocation to Notes and Certificates
A-1 Noteholders' Principal Distributable Amount $0.00
A-2 Noteholders' Principal Distributable Amount $0.00
A-3 Noteholders' Principal Distributable Amount $7,083,415.51
B Noteholders' Principal Distributable Amount $0.00
Certificateholders' Principal Distributable Amount $0.00
Interest Distributable Amount $925,600.96
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 $716,923.87
Noteholders' Interest Distributable Amount applicable to B Notes $145,166.67
Certificateholders' Interest Distributable Amount $63,510.42
Servicing Fees Accrued during this Period $142,301.17
Total Distribution Amount Remaining to Deposit to Spread Account $73,717.60
Spread Account
Beginning Spread Account Balance $13,016,886.44
Deposit to Spread Account from Pre-Funding Account $0.00
Deposit to Spread Account from Excess Collections over Distributions $73,717.60
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" $90,604.04
Ending Spread Account Balance (after distributions) $13,000,000.00
Credit Enhancement 7.95%
Spread account % of Ending Pool Balance 7.94%
Overcollateralization % of Ending Pool Balance 0.00%
Scheduled Amounts 30 - 59 days past due $1,342,492.05
as % of Ending Pool Balance 0.82%
Scheduled Amounts 60 days or more past due $2,185,154.32
as % of Ending Pool Balance 1.34%
Net Losses on Liquidated Receivables $149,023.54
as % of Ending Pool Balance 0.09%
Page 3
<PAGE>
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
PART III -- SERVICING CALCULATIONS 15-Oct-99
1. Sources and Uses of Collection Account Balance Pool 1 Cutoff Pool 1 Pool 2
Wtd. Avg. APR 8.823% 8.823% 8.701%
Contract Value (Beg. of Collection Period), by origination pool $82,218,247.70 $25,367,075.25
Contract Value (End of Collection Period), by origination pool $335,052,501.00 $79,185,804.68 $24,309,618.84
Contract Value Decline $3,032,443.02 $1,057,456.41
3.69% 4.17%
Initial Pool Balance $170,761,404.80
Pool Balance (End of Collection Period) $163,677,989.29
Total Collections and Investment Income for the period $8,225,201.91
Negative Carry Amount $0.00
Total Distribution Amount (TDA) $8,225,201.91
Principal Distribution Amount (PDA) $7,083,415.51 86%
Interest Distribution Amount (IDA) $1,141,786.40 14%
1. Sources and Uses of Collection Account Balance Pool 3 Pool 4
Wtd. Avg. APR 8.302% 8.479%
Contract Value (Beg. of Collection Period), by origination pool $35,386,704.76 $27,789,377.09
Contract Value (End of Collection Period), by origination pool $33,492,970.73 $26,689,595.04
Contract Value Decline $1,893,734.03 $1,099,782.05
5.35% 3.96%
Initial Pool Balance
Pool Balance (End of Collection Period)
Total Collections and Investment Income for the period
Negative Carry Amount
Total Distribution Amount (TDA)
Principal Distribution Amount (PDA)
Interest Distribution Amount (IDA)
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 $7,083,415.51
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
Principal Distribution Amount Remaining $7,083,415.51
A-3 Note Beginning Principal Balance $133,381,185.71
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 $7,083,415.51
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% $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 6.450% $716,923.87
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 $716,923.87
Interest Accrued on Class A-1, A-2 and A-3 Notes this period $716,923.87
Offered Noteholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Offered Noteholders' Interest Distributable Amount $716,923.87
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 $8,225,201.91
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 $8,225,035.24
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 $716,923.87
Noteholders' Interest applicable to A-3 Notes Paid this Period from TDA $716,923.87
Preliminary Noteholders' Interest Carryover Shortfall (Current Period)
applicable to A-3 Notes $0.00
Page 4
<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 $716,923.87
Offered Noteholders' Interest Paid this Period from TDA $716,923.87
Preliminary Noteholders' Interest Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $7,508,111.37
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 $7,362,944.70
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 $7,362,944.70
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 $7,362,944.70
A-3 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-3 Noteholders' Monthly Principal Distributable Amount $7,083,415.51
A-3 Noteholders' Principal Distributable Amount Paid from TDA $7,083,415.51
Preliminary A-3 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $279,529.19
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 $279,529.19
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 $216,018.77
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 $216,018.77
Servicing Fee Shortfall (Previous Period) $0.00
Servicing Fees Accrued during this Period 1.00% $142,301.17
Total Servicing Fees Due $142,301.17
Servicing Fees Paid this Period from TDA $142,301.17
Servicing Fee Shortfall $0.00
Total Distribution Amount Available to Deposit to Spread Acct $73,717.60
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 $13,016,886.44
Deposit to Spread Account from Pre-Funding Account $0.00
Deposit to Spread Account from Excess Collections over Distributions $73,717.60
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
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
Page 5
<PAGE>
Adj to Preliminary B Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Preliminary Spread Account Balance Remaining $13,090,604.04
Cumulative Realized Losses since 28-February-97 (Cut-off Date) $2,996,762.19
Are Cum. Realized Losses > 2.25% of Initial Pool Balance? NO
12*(Realized Losses during Collection Period + Repos at end of Collection Period) $1,788,282.48
Is 12*Realized Losses + Unliq. Repos > 1.65% of Beg. Pool Balance? NO
60 day or > Delinquent Scheduled Amounts $2,185,154.32
Are 60 day or > Delinquencies > 2.25% of Ending Pool Balance? NO
Are any of the three conditions "YES"? NO
Case Credit has discovered a systems error in the report used to identify
losses for the trust. The report only identified losses that had been applied
against dealer reserves. It failed to include in the loss figure any losses
that were not covered by dealer reserves. This resulted in an inadvertent and
immaterial understatement of losses in the monthly servicer reports for years
prior to 1999. The systems error had no impact on historical loss figures
reflected in the prospectuses for the ABS transactions, which were generated
separately and were accurate.
As a result of the systems error, Case Credit incorrectly absorbed the losses
that were not included in the monthly servicer reports through its on-book
reserves. Case Credit will not charge these losses back to the trust. The
cumulative amount of losses that were inadvertently absorbed by Case Credit
that should have been charged to the trust was: 861,558.07
If the monthly servicer reports for the trust were restated, the cumulative
loss test would still have been met as indicated below:
Restated Cumulative Realized Losses: 3,858,320.26
Are Cumulative Realized Losses > 2.25% of the Initial Pool Balance? 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) $126,297,770.20
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) $163,672,770.20
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 163,672,770.20
Preliminary Spread Account Balance Remaining $13,090,604.04
Preliminary Excess Amount in Spread Account $90,604.04
Release from Spread Account to Seller as "Excess Servicing Fee" $90,604.04
Ending Spread Account Balance (after distributions) $13,000,000.00
Net Change in Spread Account Balance ($16,886.44)
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) $126,297,770.20
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) $163,672,770.20
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 0.0000000
A-3 Note Pool Factor (End of Period) $259,125,000.00 0.4874009
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) 0.2518043
Specified Spread Account Balance (after all distributions and adjustments) $13,000,000.00
</TABLE>
Page 6
<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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(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: $0.00
per $1,000 original principal amount: $0.00000000
(c) A-3 Notes: $7,083,415.51
per $1,000 original principal amount: $27.33590163
(d) B Notes: $0.00
per $1,000 original principal amount: $0.00000000
(e) Total $7,083,415.51
(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: $716,923.87
per $1,000 original principal amount: $2.76671055
(d) B Notes: $145,166.67
per $1,000 original principal amount: $5.58333346
(e) Total $862,090.54
(3) Pool Balance at the end of the related Collection Period $163,677,989.29
(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: $126,297,770.20
(ii) A-3 Note Pool Factor: $0.4874009
(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: $142,301.17
per $1,000 Beginning of Collection Period: 0.83333333
(6) Amount of Administration Fee: $166.67
per $1,000 Beginning of Collection Period: 0.00097604
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $149,023.54
(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 NA
Remaining Pre-Funded Amount
(12) Amount in Negative Carry Account: $0.00
</TABLE>
Page 7
<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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(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: 7,083,415.51
per $1,000 original principal amount: 27.33590163
(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: $7,083,415.51
(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: $716,923.87
per $1,000 original principal amount: $2.76671055
(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: $925,600.96
(3) Pool Balance at end of related Collection Period: $163,677,989.29
(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: $126,297,770.20
(ii) A-3 Note Pool Factor: 0.4874009
(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: $142,301.17
per $1,000 Beginning of Collection Period: $0.83333333
(6) Amount of Administration Fee: $166.67
per $1,000 Beginning of Collection Period: $0.00097604
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $149,023.54
(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 NA
Remaining Pre-Funded Amount
(12) Amount in Negative Carry Account: $0.00
</TABLE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Page 8
<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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(1) Payment of Administration Fee to Administrator: $166.67
(2) Offered Noteholders' Interest Distributable Amount
deposited into Note Distribution Account: $862,090.54
(3) Noteholders' Principal Distributable Amount to be
deposited into Noteholders' Distribution Account: $7,083,415.51
(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: $142,301.17
(7) Release to Seller from Excess Collections over Distributions $73,717.60
Check for Error
Sum of Above Distributions
Total Distribution Amount plus Releases to Seller
</TABLE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Page 9
<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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(1) Total Distribution Amount: $8,225,201.91
(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: $716,923.87
(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' $862,090.54
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: $7,083,415.51
(21) % of Principal Distribution Amount applicable to A-3 Noteholders 100.00%
(22) A-3 Noteholders' Principal Carryover Shortfall: $0.00
(23) A-3 Noteholders' Principal Distributable Amount: $7,083,415.51
(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: $7,083,415.51
(29) Noteholders' Distributable Amount: $7,945,506.05
(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: $142,301.17
(38) Deposit to Spread Account (from excess collections): $73,717.60
(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 $163,672,770.20
(40) Spread Account Balance over the Specified Spread Account Balance: $90,604.04
(41) Excess Amounts Distributed To Seller:
(a) Release of Excess Amount in Spread Account $90,604.04
(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: $170,761,404.80
(45) After giving effect to all distributions on such Payment Date:
Outstanding Principal Balance of A-1 Notes: $0.00
Page 10
<PAGE>
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: $126,297,770.20
A-3 Note Pool Factor: 0.4874009
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: $149,023.54
(48) Spread Account Balance after giving effect to all distributions: $13,000,000.00
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 11
<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
27-Oct-99
07:06 PM
Prepared by Lisa Sorenson (414)636-6184 File: us97b.xls
<TABLE>
<CAPTION>
<S><C>
---------------------------------------------------------------------------------
NPV Data Input Section 31-Aug-97 05-Oct-99 05-Oct-99 05-Oct-99 05-Oct-99
---------------------------------------------------------------------------------
Scheduled cash flows as of the Pool 1 Cutoff Pool 1 Pool 2 Pool 3 Pool 4
1,177,249.91 4,753,744.71 2,776,234.40 3,060,378.74 2,049,654.39
6,659,719.81 4,031,481.04 1,372,722.29 2,189,995.06 10,624,198.28
6,534,773.62 5,262,785.93 1,647,933.82 1,425,519.06 4,736,543.48
6,984,610.38 5,360,749.73 1,746,892.46 1,261,740.58 2,393,618.79
10,446,903.15 3,833,695.41 1,182,280.30 853,367.66 1,570,793.83
8,329,023.40 3,472,676.84 1,040,004.99 695,528.78 1,503,420.48
6,232,683.33 4,058,805.11 1,214,484.42 897,597.96 1,525,566.31
6,320,726.36 5,450,665.29 887,159.23 734,577.97 1,464,193.48
8,485,392.69 8,748,786.62 811,848.10 722,994.94 1,311,650.88
12,048,887.10 7,644,924.55 1,213,267.58 780,557.41 1,420,401.59
14,644,000.73 7,551,039.22 1,001,999.62 765,747.70 1,605,284.94
14,137,496.87 4,850,186.66 5,266,154.54 1,324,331.58 2,119,544.46
11,667,759.49 2,764,139.47 2,937,820.87 4,933,044.45 2,210,882.50
6,930,958.47 2,811,166.99 1,075,416.14 1,931,022.41 10,004,794.04
6,299,823.14 3,746,827.37 1,274,689.09 1,187,255.28 4,010,463.84
6,824,045.37 3,867,300.61 1,258,704.75 1,068,262.19 1,774,950.27
10,425,799.25 2,723,764.66 932,115.74 671,699.51 1,213,701.39
7,966,016.16 2,403,902.38 765,467.11 536,511.88 1,153,509.28
5,872,271.46 2,735,313.18 867,514.90 687,345.99 1,110,948.92
5,987,805.41 3,364,926.26 653,900.25 552,484.68 1,044,412.32
8,167,460.88 4,914,498.80 592,586.11 552,941.80 909,143.81
11,705,614.28 4,551,062.10 922,919.22 591,503.27 1,030,072.03
14,220,372.77 4,451,059.41 771,634.55 563,001.97 1,143,920.19
13,761,263.49 2,596,576.88 3,916,560.55 1,070,268.67 1,608,655.14
11,210,927.99 933,887.97 1,991,431.59 3,706,990.01 1,544,317.60
6,624,361.87 915,048.89 673,457.11 1,319,957.22 7,578,999.98
5,740,355.70 1,495,711.90 831,757.66 738,069.76 2,712,245.23
6,424,415.91 1,766,539.17 674,427.91 580,174.95 977,061.41
9,775,715.64 887,672.99 449,608.99 221,847.88 535,760.22
7,482,998.61 711,837.10 238,120.49 166,281.57 496,870.65
5,557,953.05 841,283.54 423,621.42 296,605.94 421,409.41
5,609,822.66 1,050,698.84 247,397.40 212,881.90 313,553.55
7,669,989.82 1,992,776.86 190,604.94 191,284.10 237,614.63
11,162,718.67 2,084,309.72 448,834.57 229,626.50 390,874.46
13,235,556.56 2,059,714.56 333,803.72 204,128.20 400,756.32
12,542,910.53 1,314,040.90 2,004,076.47 428,914.35 762,564.07
9,928,723.89 216,032.53 1,266,435.86 2,189,841.59 798,647.80
5,129,980.46 162,251.65 250,114.82 792,476.24 4,931,789.57
4,354,845.95 292,004.98 299,289.36 363,711.68 1,710,207.37
4,889,943.50 179,972.22 225,982.75 277,846.96 550,316.42
7,657,111.36 15,490.91 218,561.32 25,984.66 164,384.31
5,443,438.38 27,309.39 9,923.47 9,469.58 81,437.51
4,072,147.80 26,593.74 7,761.47 23,109.08 34,771.67
4,042,827.78 46,551.14 6,086.91 2,580.39 25,574.54
5,247,728.10 31,951.60 2,098.35 37,547.23 10,593.26
7,108,867.81 73,420.31 2,098.35 2,580.39 15,577.03
8,298,173.11 3,455.97 14,410.23 2,580.39 31,093.36
7,976,566.27 16,233.26 62,809.84 12,141.83 38,372.51
5,851,367.78 0.00 59,806.74 130,837.06 122,822.17
2,223,150.62 0.00 0.00 0.00 95,506.60
1,416,948.02 31,674.52 0.00 0.00 0.00
1,718,257.67 0.00 0.00 0.00 0.00
3,905,247.51 0.00 0.00 10,668.03 0.00
2,481,818.67 0.00 0.00 0.00 0.00
1,355,344.38 0.00 0.00 0.00 0.00
1,259,850.35 0.00 0.00 0.00 0.00
1,818,367.28 0.00 0.00 0.00 0.00
2,613,174.13 0.00 0.00 0.00 0.00
3,895,634.50 0.00 0.00 0.00 0.00
4,162,542.10 0.00 0.00 0.00 0.00
3,316,944.40 0.00 0.00 0.00 0.00
839,878.60 0.00 0.00 0.00 0.00
207,734.88 0.00 0.00 0.00 0.00
306,822.64 0.00 0.00 0.00 0.00
524,009.56 0.00 0.00 0.00 0.00
131,373.18 0.00 0.00 0.00 0.00
35,339.32 0.00 0.00 0.00 0.00
109,901.23 0.00 0.00 0.00 0.00
167,092.62 0.00 0.00 0.00 0.00
102,874.99 0.00 0.00 0.00 0.00
189,709.96 0.00 0.00 0.00 0.00
129,985.21 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
Total Time Balance of Scheduled Cash Flows 427,782,108.54 123,126,543.88 47,062,832.77 41,235,817.03 84,523,446.29
</TABLE>
Page 1 of 12
<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
<TABLE>
<CAPTION>
<S><C>
Prepared by Lisa Sorenson (414)636-6184 10/27/99
07:06 PM
Payment Date 15-Oct-99
Collection Period Begin Date 04-Sep-99
Collection Period End Date 31-Aug-97 05-Oct-99
Days in accrual period (30/360) 30
Days in accrual period (ACT/360) 30
One-Month LIBOR 5.38000%
PART I -- MONTHLY DATA INPUT
FIXED RATE COLLATERAL
Receipts During the Period $20,898,837.55
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 $20,898,837.55
FLOATING RATE COLLATERAL
Receipts During the Period $1,619,574.32
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 $1,619,574.32
Pool Balance (Beg. of Collection Period) $29,772,385.24
Pool Balance (End of Collection Period) $28,234,970.03
Total Collection $22,518,411.87
Negative Carry Amount $0.00
Reinvestment Income (including Pre-Funding Account and Spread Account) $137,049.12
Pre-Funding Account Reinvestment Income $0.00
Total Distribution Amount $22,655,460.99
MISCELLANEOUS DATA
FIXED RATE COLLATERAL
Scheduled Amounts 30 - 59 days past due $3,724,446.80
Scheduled Amounts 60 days or more past due $3,378,624.98
Net Losses on Liquidated Receivables $536,520.61
Number of Loans at Beginning of Period 15,742
Number of Loans at End of Period 15,279
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 $197,673.40
Scheduled Amounts 60 days or more past due $290,771.68
Net Losses on Liquidated Receivables $82,615.46
Number of Loans at Beginning of Period 2,510
Number of Loans at End of Period 2,425
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 $3,922,120.20
Scheduled Amounts 60 days or more past due $3,669,396.66
Net Losses on Liquidated Receivables $619,136.07
Number of Loans at Beginning of Period 18,252
Number of Loans at End of Period 17,704
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
</TABLE>
Page 2 of 12
<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
<TABLE>
<CAPTION>
<S><C>
Payment Date 15-Oct-99
Collection Period Begin Date 04-Sep-99
Collection Period End Date 05-Oct-99
PART II -- SUMMARY
Total Principal Balance of Notes and Certificates (Beginning of Period) $315,738,918.16
A-1 Note Beginning Principal Balance $0.00
A-2 Note Beginning Principal Balance $0.00
A-3 Note Beginning Principal Balance $69,550,624.13
A-4 Note Beginning Principal Balance $188,591,000.00
B Note Beginning Principal Balance $29,772,384.41
C Note Beginning Principal Balance $12,634,909.62
Certificate Beginning Principal Balance $15,190,000.00
Total Principal Balance of Notes and Certificates (End of Period) $294,851,927.76
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) $51,036,542.76
A-3 Note Pool Factor (End of Period) 0.2153441
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) 28,234,969.20
B Note Pool Factor (End of Period) 0.2882288
C Note Principal Balance (End of Period) $11,799,415.80
C Note Pool Factor (End of Period) 0.3398547
Certificate Principal Balance (End of Period) $15,190,000.00
Certificate Pool Factor (End of Period) 1.0000000
FIXED RATE CONTRACT VALUE DECLINE $19,349,575.19
Pool Balance (Beg. of Collection Period) $286,094,987.37
Pool Balance (End of Collection Period) $266,745,412.18
Fixed Rate Distribution Amount (FxDA) $21,035,886.67
Total Collections and Investment Income for the Period $21,035,886.67
Negative Carry Amount $0.00
Fixed Rate Principal Distribution Amount (FxPDA) $19,349,575.19
FLOATING RATE CONTRACT VALUE DECLINE $1,537,415.21
Pool Balance (Beg. of Collection Period) $29,772,385.24
Pool Balance (End of Collection Period) $28,234,970.03
Floating Rate Distribution Amount (FltDA) $1,619,574.32
Principal Allocation to Notes and Certificates
A-1 Noteholders' Principal Distributable Amount $0.00
A-2 Noteholders' Principal Distributable Amount $0.00
A-3 Noteholders' Principal Distributable Amount $18,514,081.38
A-4 Noteholders' Principal Distributable Amount $0.00
B Noteholders' Principal Distributable Amount $1,537,415.21
C Noteholders' Principal Distributable Amount $835,493.81
Certificateholders' Principal Distributable Amount $0.00
Interest Distributable Amount $510,294.65
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 $361,663.25
Noteholders' Interest Distributable Amount applicable to A-4 Notes $1,007,390.26
Noteholders' Interest Distributable Amount applicable to B Notes $82,159.11
Noteholders' Interest Distributable Amount applicable to C Notes $67,491.48
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 $249,599.82
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 5.93%
Spread account % of Ending Pool Balance 5.88%
Overcollateralization % of Ending Pool Balance 0.04%
Scheduled Amounts 30 - 59 days past due $3,922,120.20
as % of Ending Pool Balance 1.33%
Scheduled Amounts 60 days or more past due $3,669,396.66
as % of Ending Pool Balance 1.24%
Net Losses on Liquidated Receivables $619,136.07
as % of Ending Pool Balance 0.21%
Page 3 of 12
<PAGE>
PART III -- SERVICING CALCULATIONS 15-Oct-99
1. Sources and Uses of Collection Account Balance Pool 1 Cutoff Pool 1 Pool 2
FIXED RATE POOL
Wtd. Avg. APR 8.637% 8.637% 8.833%
Fixed Rate Contract Value (Beg. of Collection Period), by origination pool $118,714,592.00 $46,993,322.57
Fixed Rate Contract Value (End of Collection Period), by origination pool $358,115,964.52 $112,060,063.69 $42,065,826.30
--------------- --------------- --------------
Fixed Rate Contract Value Decline $6,654,528.31 $4,927,496.27
5.61% 10.49%
Fixed Rate Initial Pool Balance $286,094,987.37
Fixed Rate Pool Balance (End of Collection Period) $266,745,412.18
Fixed Rate Collections and Investment Income for the period $21,035,886.67
Negative Carry Amount $0.00
Fixed Rate Distribution Amount (FxDA) $21,035,886.67
Fixed Rate Principal Distribution Amount (FxPDA) $19,349,575.19
Initial C Percentage 4.000%
Fixed Rate Unscheduled Principal (per pool) $0.00 $0.00
Total Fixed Rate Unscheduled Principal $0.00
FLOATING RATE POOL
Floating Rate Contract Value (Beg. of Collection Period) $29,772,385.24
Floating Rate Contract Value (End of Collection Period) $28,234,970.03
Floating Rate Contract Value Decline $1,537,415.21
Floating Rate Distribution Amount (FltDA) $1,619,574.32
Floating Rate Principal Distribution Amount (FltPDA) $1,537,415.21
1. Sources and Uses of Collection Account Balance Pool 3 Pool 4
FIXED RATE POOL
Wtd. Avg. APR 8.872% 8.799%
Fixed Rate Contract Value (Beg. of Collection Period), by origination pool $40,797,305.21 $79,589,767.59
Fixed Rate Contract Value (End of Collection Period), by origination pool $36,850,638.40 $75,768,883.79
-------------- --------------
Fixed Rate Contract Value Decline $3,946,666.81 $3,820,883.80
9.67% 4.80%
Fixed Rate Initial Pool Balance
Fixed Rate Pool Balance (End of Collection Period)
Fixed Rate Collections and Investment Income for the period
Negative Carry Amount
Fixed Rate Distribution Amount (FxDA)
Fixed Rate Principal Distribution Amount (FxPDA)
Initial C Percentage
Fixed Rate Unscheduled Principal (per pool) $0.00 $0.00
Total Fixed Rate Unscheduled Principal
FLOATING RATE POOL
Floating Rate Contract Value (Beg. of Collection Period)
Floating Rate Contract Value (End of Collection Period)
Floating Rate Contract Value Decline
Floating Rate Distribution Amount (FltDA)
Floating Rate Principal Distribution Amount (FltPDA)
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 $19,349,575.19
Floating Rate Principal Distribution Amount Remaining $1,537,415.21
A-2 Note Beginning Principal Balance $0.00
A-2 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-2 Noteholders' Share of the Fixed Rate Principal Distribution Amount 0.00%
A-2 Noteholders' Principal Distributable Amount $0.00
Fixed Rate Principal Distribution Amount Remaining $19,349,575.19
Floating Rate Principal Distribution Amount Remaining $1,537,415.21
A-3 Note Beginning Principal Balance $69,550,624.13
A-3 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-3 Noteholders' Share of the Fixed Rate Principal Distribution Amount 95.68%
A-3 Noteholders' Principal Distributable Amount $18,514,081.38
Fixed Rate Principal Distribution Amount Remaining $835,493.81
Floating Rate Principal Distribution Amount Remaining $1,537,415.21
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 $835,493.81
Floating Rate Principal Distribution Amount Remaining $1,537,415.21
B Note Beginning Principal Balance $29,772,384.41
B Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
B Noteholders' Share of the Floating RatePrincipal Distribution Amount 100.00%
B Noteholders' Principal Distributable Amount $1,537,415.21
Fixed Rate Principal Distribution Amount Remaining $835,493.81
Floating Rate Principal Distribution Amount Remaining $0.00
C Note Beginning Principal Balance $12,634,909.62
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 $835,493.81
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% $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 6.2400% $361,663.25
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 $361,663.25
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 $1,369,053.51
Offered Noteholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Offered Noteholders' Interest Distributable Amount $1,369,053.51
Class B Notes Net Funds Cap 3.31149%
Class B Accrual Rate (Min(Net Funds Cap, 1 Month Libor +20bp)) 3.31149%
Net Funds Cap? YES
Interest Accrued on Class B Notes this period 1 Month Libor + $82,159.11
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 $82,159.11
Preliminary Class B Net Funds Cap Carryover Amount $56,282.48
Interest Accrued on Class C Notes this period 6.4100% $67,491.48
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 $67,491.48
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) $21,035,886.67
Fixed Rate Percentage of Administration Fee Shortfall (Previous Period) $0.00
Fixed Rate Percentage of Administration Fee Accrued during this Period $500.00 $150.96
Fixed Rate Percentage of Administration Fee Paid this Period from FxDA $150.96
Fixed Rate Percentage of Administration Fee Shortfall $0.00
Page 4 of 12
<PAGE>
Total Fixed Rate Distribution Amount Remaining $21,035,735.71
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 $0.00
Noteholders' Interest applicable to A-2 Notes Paid this Period from FxDA $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 $361,663.25
Noteholders' Interest applicable to A-3 Notes Paid this Period from FxDA $361,663.25
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 $1,369,053.51
Offered Noteholders' Interest Paid this Period from FxDA $1,369,053.51
Preliminary A Noteholders' Interest Carryover Shortfall (Current Period) $0.00
Total Fixed Rate Distribution Amount Remaining $19,666,682.20
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 $67,491.48
Noteholders' Interest applicable to C Notes Paid this Period from FxDA $67,491.48
Preliminary Noteholders' Interest Carryover Shortfall (Current Period)
applicable to C Notes $0.00
Total Fixed Rate Distribution Amount Remaining $19,599,190.72
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 $19,599,190.72
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 FxDA $0.00
Preliminary A-2 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Fixed Rate Distribution Amount Remaining $19,599,190.72
A-3 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-3 Noteholders' Monthly Principal Distributable Amount $18,514,081.38
A-3 Noteholders' Principal Distributable Amount Paid from FxDA $18,514,081.38
Preliminary A-3 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Fixed Rate Distribution Amount Remaining $1,085,109.35
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 $1,085,109.35
b. FLOATING RATE DISTRIBUTION AMOUNT (FltDA) $1,619,574.32
Floating Rate Percentage of Administration Fee Shortfall (Previous Period) $0.00
Floating Rate Percentage of Administration Fee Accrued during this Period $15.71
Floating Rate Percentage of Administration Fee Paid this Period from FltDA $15.71
Floating Rate Percentage of Administration Fee Shortfall $0.00
Total Floating Rate Distribution Amount Remaining $1,619,558.61
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 $82,159.11
Noteholders' Interest applicable to B Notes Paid this Period from FltDA $82,159.11
Preliminary Noteholders' Interest Carryover Shortfall (Current Period)
applicable to B Notes $0.00
Total Floating Rate Distribution Amount Remaining $1,537,399.50
B Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
B Noteholders' Monthly Principal Distributable Amount $1,537,415.21
B Noteholders' Principal Distributable Amount Paid from FltDA $1,537,399.50
Preliminary B Noteholders' Principal Carryover Shortfall (Current Period) $15.71
Total Floating Rate Excess Distribution Amount $0.00
c. ALLOCATION OF FIXED RATE EXCESS DISTRIBUTION AMOUNT $1,085,109.35
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) $15.71
B Noteholders' Principal Carryover Shortfall paid from Fx Excess DA $15.71
Preliminary B Noteholders' Principal Carryover Shortfall (Current
Period) Remaining $0.00
Remaining Fixed Rate Excess Distribution Amount $1,085,093.64
d. ALLOCATION OF FLOATING RATE EXCESS DISTRIBUTION AMOUNT $0.00
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 $0.00
e. ALLOCATION OF REMAINING FIXED AND FLOATING RATE EXCESS DISTRIBUTION AMOUNTS $1,085,093.64
C Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
C Noteholders' Monthly Principal Distributable Amount $835,493.81
C Noteholders' Principal Distributable Amount Paid from Fx and Flt Excess DA $835,493.81
Preliminary C Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Fixed and Floating Rate Excess Distribution Amount Remaining $249,599.82
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
Page 5 of 12
<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 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 $249,599.82
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 $17,608,804.82
Cumulative Realized Losses since 31-August-97 (Cut-off Date) $3,712,097.76
Are Cum. Realized Losses > 2.25% of Initial Pool Balance? NO
12*(Realized Losses during Collection Period + Repos at end of Collection
Period) $6,438,247.32
Is 12*Realized Losses + Unliq. Repos > 1.65% of Beg. Pool Balance? YES
60 day or > Delinquent Scheduled Amounts $3,669,396.66
Are 60 day or > Delinquencies > 2.25% of Ending Pool Balance? NO
Are any of the three conditions "YES"? YES
Case Credit has discovered a systems error in the report used to identify
losses for the trust. The report only identified losses that had been applied
against dealer reserves. It failed to include in the loss figure any losses
that were not covered by dealer reserves. This resulted in an inadvertent and
immaterial understatement of losses in the monthly servicer reports for years
prior to 1999. The systems error had no impact on historical loss figures
reflected in the prospectuses for the ABS transactions, which were generated
separately and were accurate.
As a result of the systems error, Case Credit incorrectly absorbed the losses
that were not included in the monthly servicer reports through its on-book
reserves. Case Credit will not charge these losses back to the trust. The
cumulative amount of losses that were inadvertently absorbed by Case Credit
that should
have been charged to the trust was: 1,165,589.54
If the monthly servicer reports for the trust were restated, the cumulative
loss test would still have been met as indicated below:
Restated Cumulative Realized Losses: 4,877,687.30
Are Cumulative Realized Losses > 2.25% of the Initial Pool Balance? 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) $51,036,542.76
Preliminary A-4 Note Principal Balance (End of Period) $188,591,000.00
Preliminary B Note Principal Balance (End of Period) $28,234,969.20
Preliminary C Note Principal Balance (End of Period) $11,799,415.80
Preliminary Total Principal Balance of Notes (End of Period) $279,661,927.76
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 279,661,927.76
Preliminary Spread Account Balance Remaining $17,608,804.82
Preliminary Excess Amount in Spread Account $249,599.82
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 $249,599.82
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 $249,599.82
Preliminary Class B Net Funds Cap Carryover Amount $56,282.48
Preliminary Class B Net Funds Cap Carryover Amount Paid from Fixed and
Floating Rate Excess $56,282.48
Class B Net Funds Cap Carryover Amount $0.00
Total Fixed and Floating Rate Excess Distribution Amount Remaining $193,317.34
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 $112,177.42
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 $112,177.42
Servicing Fee Shortfall (Previous Period) 18,871.18
Servicing Fees Accrued during this Period 1.00% $263,222.81
Servicing Fees Paid this Period from Fixed and Floating Rate Excess $112,177.42
Adjustment to Servicing Fee $0.00
Adjustment to Excess Distribution Amount Remaining $0.00
Servicing Fee Shortfall $169,916.56
Total Fixed and Floating Rate Excess Distribution Amount Remaining $0.00
8. Ending Balances
Page 6 of 12
<PAGE>
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) $0.00
A-3 Note Principal Balance (End of Period) $51,036,542.76
A-4 Note Principal Balance (End of Period) $188,591,000.00
B Note Principal Balance (End of Period) $28,234,969.20
C Note Principal Balance (End of Period) $11,799,415.80
Certificate Principal Balance (End of Period) $15,190,000.00
Total Principal Balance of Notes and Certificates (End of Period) $294,851,927.76
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 0.0000000
A-3 Note Pool Factor (End of Period) $237,000,000.00 0.2153441
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 0.2882288
C Note Pool Factor (End of Period) $34,719,000.00 0.3398547
Certificate Pool Factor (End of Period) $15,190,000.00 1.0000000
Total Notes & Certificates Pool Factor (End of Period) 0.3397067
Specified Spread Account Balance (after all distributions and adjustments) $17,359,205.00
</TABLE>
Page 7 of 12
<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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(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: $0.00
per $1,000 original principal amount: $0.00
(c) A-3 Notes: $18,514,081.38
per $1,000 original principal amount: $78.12
(d) A-4 Notes: $0.00
per $1,000 original principal amount: $0.00
(e) B Notes: $1,537,415.21
per $1,000 original principal amount: $15.69
(f) C Notes: $835,493.81
per $1,000 original principal amount: $24.06
(g) Total $20,886,990.40
(2) Interest on the Notes
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00
(b) A-2 Notes: $0.00
per $1,000 original principal amount: $0.00
(c) A-3 Notes: $361,663.25
per $1,000 original principal amount: $1.53
(d) A-4 Notes: $1,007,390.26
per $1,000 original principal amount: $5.34
(e) B Notes: $138,441.59
per $1,000 original principal amount: $1.41
(f) C Notes: $67,491.48
per $1,000 original principal amount: $1.94
(g) Total $1,574,986.58
(3) Pool Balance at the end of the related Collection Period $294,980,382.21
(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: $51,036,542.76
(ii) A-3 Note Pool Factor: 0.2153441
(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: $28,234,969.20
(ii) B Note Pool Factor: 0.2882288
(f) (i) outstanding principal amount of C Notes: $11,799,415.80
(ii) C Note Pool Factor: 0.3398547
(g) (i) Certificate Balance $15,190,000.00
(ii) Certificate Pool Factor: 1.0000000
(5) Amount of Servicing Fee: $112,177.42
per $1,000 Beginning of Collection Period: 0.75546978
(6) Amount of Administration Fee: $166.67
per $1,000 Beginning of Collection Period: 0.00112243
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $619,136.07
(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
</TABLE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Page 8 of 12
<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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(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: $0.00
per $1,000 original principal amount: $0.00
(c) A-3 Notes: $18,514,081.38
per $1,000 original principal amount: $78.12
(d) A-4 Notes: $0.00
per $1,000 original principal amount: $0.00
(e) B Notes: $1,537,415.21
per $1,000 original principal amount: $15.69
(f) C Notes: $835,493.81
per $1,000 original principal amount: $24.06
(g) Certificates: $0.00
per $1,000 original principal amount: $0.00
(h) Total: $20,886,990.40
(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: $0.00
per $1,000 original principal amount: $0.00
(c) A-3 Notes: $361,663.25
per $1,000 original principal amount: $1.53
(d) A-4 Notes: $1,007,390.26
per $1,000 original principal amount: $5.34
(e) B Notes: $138,441.59
per $1,000 original principal amount: $1.41
(f) C Notes: $67,491.48
per $1,000 original principal amount: $1.94
(g) Certificates: $81,139.92
per $1,000 original principal amount: $5.34
(h) Total: $1,517,684.91
(3) Pool Balance at end of related Collection Period: $294,980,382.21
(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: $51,036,542.76
(ii) A-3 Note Pool Factor: 0.2153441
(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: $28,234,969.20
(ii) B Note Pool Factor: 0.2882288
(f) (i) outstanding principal amount of C Notes: $11,799,415.80
(ii) C Note Pool Factor: 0.3398547
(g) (i) Certificate Balance $15,190,000.00
(ii) Certificate Pool Factor: 1.0000000
(5) Amount of Servicing Fee: $112,177.42
per $1,000 Beginning of Collection Period: 0.7554698
(6) Amount of Administration Fee: $166.67
per $1,000 Beginning of Collection Period: 0.0011224
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $619,136.07
(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
</TABLE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Page 9 of 12
<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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(1) Payment of Administration Fee to Administrator: $166.67
(2) Offered Noteholders' Interest Distributable Amount
deposited into Note Distribution Account: $1,574,986.58
(3) Noteholders' Principal Distributable Amount to be
deposited into Noteholders' Distribution Account: $20,886,990.40
(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: $112,177.42
(7) Release to Seller from Excess Collections over Distributions $0.00
Check for Error NO ERROR
Sum of Above Distributions $22,655,460.99
Total Distribution Amount plus Releases to Seller $22,655,460.99
</TABLE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Page 10 of 12
<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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(1) Total Distribution Amount: $22,655,460.99
(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: $361,663.25
(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: $138,441.59
(12) Noteholders' Interest Carryover Shortfall applicable to B Notes: $0.00
(13) Noteholders' Interest Distributable Amount applicable to C Notes: $67,491.48
(14) Noteholders' Interest Carryover Shortfall applicable to C Notes: $0.00
(15) Offered Noteholders' Interest Distributable Amount' $1,574,986.58
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: $0.00
(21) % of Fixed Rate Principal Distribution Amount applicable to A-2 Noteholders 0.00%
(22) A-2 Noteholders' Principal Carryover Shortfall: $0.00
(23) A-2 Noteholders' Principal Distributable Amount: $0.00
(24) A-3 Noteholders' Monthly Principal Distributable Amount: $18,514,081.38
(25) % of Fixed Rate Principal Distribution Amount applicable to A-3 Noteholders 95.68%
(26) A-3 Noteholders' Principal Carryover Shortfall: $0.00
(27) A-3 Noteholders' Principal Distributable Amount: $18,514,081.38
(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: $1,537,415.21
(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: $1,537,415.21
(36) C Noteholders' Monthly Principal Distributable Amount: $835,493.81
(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: $835,493.81
(40) Noteholders' Principal Distribution Amount: $20,886,990.40
(41) Noteholders' Distributable Amount: $22,461,976.98
(42) Deposit to Spread Account (from excess collections): $249,599.82
(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 $279,661,927.76
(44) Spread Account Balance over the Specified Spread Account Balance: $249,599.82
(45) Class B Net Funds Cap Carryover Amount paid from Excess $56,282.48
(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: $112,177.42
(55) Excess Amounts Distributed To Seller:
(a) Release of Remaining Fixed and Floating Rate Excess Distributions $0.00
(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: $315,867,372.61
Page 11 of 12
<PAGE>
(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: $0.00
A-2 Note Pool Factor: 0.0000000
Outstanding Principal Balance of A-3 Notes: $51,036,542.76
A-3 Note Pool Factor: 0.2153441
Outstanding Principal Balance of A-4 Notes: $188,591,000.00
A-4 Note Pool Factor: 1.0000000
Outstanding Principal Balance of B Notes: $28,234,969.20
B Note Pool Factor: 0.2882288
Outstanding Principal Balance of C Notes: $11,799,415.80
C Note Pool Factor: 0.3398547
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: $619,136.07
(61) Spread Account Balance after giving effect to all distributions: $17,359,205.00
</TABLE>
Page 12 of 12
<PAGE>
Page 1 of 12
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
<TABLE>
<CAPTION>
<S><C>
27-Oct-99
08:33 PM
Prepared by Sally Nelson (414) 636-5637 File: us98a7.xls
------------------------------------------------------
NPV Data Input Section 31-Jan-98 05-Oct-99 05-Oct-99
------------------------------------------------------
Scheduled cash flows as of the indicated cutoff date Pool 1 Cutoff Pool 1 Pool 2
Row 0 is total delinquent amount valued without discounting 815,587.26 2,973,027.78 1,311,164.18
4,904,442.92 3,746,499.84 1,345,463.55
3,906,018.00 9,167,519.12 1,619,541.61
3,877,741.53 12,890,396.13 2,818,072.77
3,927,499.76 5,372,968.97 5,490,637.68
4,489,141.08 2,559,006.21 3,372,718.59
4,701,496.18 2,388,969.92 1,212,184.36
8,608,827.19 2,370,482.72 1,117,547.77
4,561,811.29 2,365,724.13 1,015,856.11
5,865,268.62 2,571,520.66 1,104,738.67
20,726,727.40 2,700,349.40 1,252,013.10
24,544,023.77 3,221,448.08 1,372,074.27
8,064,830.34 2,573,149.64 1,060,390.19
4,158,520.71 3,198,917.64 1,141,364.37
3,890,264.88 8,550,085.39 1,421,172.82
3,782,816.20 11,983,233.48 2,623,845.12
3,690,091.18 4,620,341.77 5,225,847.56
4,197,628.53 1,936,503.75 3,110,056.46
4,469,435.87 1,762,553.03 843,689.05
7,285,555.72 1,706,186.22 835,668.94
4,356,548.05 1,703,919.49 740,986.66
5,597,282.58 1,813,395.85 831,589.18
20,571,819.38 2,021,044.65 931,250.29
23,941,222.86 2,446,272.65 1,009,940.41
8,115,920.90 1,891,439.96 723,438.08
3,796,254.95 2,409,134.35 830,249.82
3,520,590.84 6,623,352.24 1,005,730.46
3,368,827.89 8,492,810.89 2,156,487.85
3,377,685.71 3,113,050.75 3,635,072.55
3,818,250.80 922,325.20 1,981,118.40
4,125,981.11 774,277.20 370,519.60
6,713,278.92 702,841.81 314,263.44
3,988,716.36 688,935.65 295,152.26
5,217,950.91 801,683.54 317,647.47
19,826,622.88 906,044.72 426,179.48
22,666,521.85 1,343,179.07 476,345.35
7,002,127.42 1,014,262.19 274,874.40
3,029,669.36 1,320,426.63 321,623.23
2,680,058.07 4,435,275.98 484,546.81
2,516,935.39 5,897,330.16 1,479,485.38
2,496,244.13 1,897,831.27 2,234,837.82
2,737,191.06 219,920.68 872,161.79
3,153,886.68 162,079.76 152,781.86
5,582,477.12 75,246.66 41,126.45
3,015,189.84 8,915.45 7,144.08
4,018,584.24 20,986.09 18,680.56
17,054,595.16 11,301.89 67,220.77
17,892,686.71 111,252.99 30,411.24
5,006,379.02 66,628.55 21,658.41
1,575,797.74 72,413.27 31,367.97
1,274,914.81 261,503.20 45,344.72
1,052,722.95 173,354.59 343,257.95
1,025,672.10 0.00 49,822.55
1,269,487.16 0.00 0.00
1,401,868.59 9,000.00 0.00
3,543,191.20 0.00 0.00
1,602,040.53 0.00 0.00
2,451,098.98 0.00 0.00
13,381,249.09 0.00 0.00
14,147,441.09 0.00 0.00
3,183,367.95 0.00 0.00
425,818.48 0.00 0.00
225,353.33 0.00 0.00
88,204.01 0.00 0.00
21,872.59 0.00 0.00
61,007.90 0.00 0.00
150,978.94 0.00 0.00
183,957.52 0.00 0.00
138,009.37 0.00 0.00
263,256.47 0.00 0.00
476,922.25 0.00 0.00
290,667.90 0.00 0.00
- 0.00 0.00
- 0.00 0.00
-
Total Time Balance of Scheduled Cash Flows 397,076,542.31 141,070,321.26 61,816,364.46
---------------------------------------------
NPV Data Input Section 05-Oct-99 05-Oct-99 05-Oct-99
---------------------------------------------
Scheduled cash flows as of the indicated cutoff date Pool 3 Pool 4 Pool 5
Row 0 is total delinquent amount valued without discounting 1,250,784.18 914,165.15 3,816.46
1,453,457.40 901,846.12 2,319.53
1,986,215.27 995,183.05 4,362.93
1,948,754.53 1,064,878.51 2,319.53
1,898,176.82 834,656.13 2,319.53
6,088,879.99 1,037,809.59 2,319.53
4,252,141.85 3,132,204.11 2,319.53
1,215,019.94 2,023,060.14 13,394.74
1,138,117.20 806,079.03 15,822.82
1,160,316.33 792,732.65 2,319.53
1,261,125.84 838,640.65 2,319.53
1,478,066.87 917,273.29 2,319.53
1,248,110.61 924,941.02 2,319.53
1,157,545.09 790,393.42 2,319.53
1,753,950.68 885,145.37 4,362.93
1,721,839.53 988,304.18 2,319.53
1,689,114.19 799,149.34 2,319.53
5,857,232.91 982,373.48 2,319.53
3,836,492.37 2,984,201.64 2,319.53
939,387.30 1,880,377.29 5,807.75
845,506.66 657,178.55 12,743.55
847,721.82 648,851.01 2,319.53
927,216.06 704,065.30 2,319.53
992,776.81 773,569.68 2,319.53
922,430.99 787,485.64 2,319.53
810,692.14 638,570.38 2,319.53
1,312,930.12 681,663.50 2,319.53
1,205,581.94 801,587.56 2,319.53
1,284,177.53 662,482.73 2,319.53
3,929,956.10 849,908.67 2,319.53
2,440,184.40 2,462,997.07 2,319.53
525,059.00 1,269,775.20 2,319.53
323,540.29 240,706.93 12,138.58
325,053.35 209,357.45 1,714.56
408,975.40 276,294.97 1,714.56
413,819.04 316,167.12 1,714.56
350,203.90 277,770.31 1,714.56
298,397.94 199,686.47 1,714.56
504,576.43 205,422.24 1,714.56
598,416.32 347,958.46 1,714.56
784,467.72 210,335.31 1,714.56
2,653,382.09 423,430.38 1,714.56
1,392,998.68 1,471,931.28 1,714.56
116,447.70 632,224.75 1,714.56
82,019.37 56,067.13 10,424.02
52,720.43 1,253.18 0.00
22,211.70 18,891.23 0.00
31,394.35 34,425.13 0.00
17,979.75 16,253.18 0.00
0.00 1,253.18 0.00
56,987.58 1,253.18 0.00
23,920.99 13,253.17 0.00
38,491.14 1,253.18 0.00
151,969.91 64,806.11 0.00
0.00 111,544.81 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
Total Time Balance of Scheduled Cash Flows 68,026,936.55 40,563,088.60 159,722.19
</TABLE>
<PAGE>
Page 2 of 12
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
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
<TABLE>
<CAPTION>
<S><C>
Prepared by Sally Nelson (414) 636-5637 10/27/99
Scheduled Payment Date 15-Oct-99
Actual Payment Date 15-Oct-99
Collection Period Begin Date 04-Sep-99
Collection Period End Date 31-Jan-98 05-Oct-99
Days in accrual period (30/360) 30
Days in accrual period (ACT/360) 31
PART I -- MONTHLY DATA INPUT
Receipts During the Period $11,741,216.10
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 $11,741,216.10
Pool Balance (Beg. of Collection Period) $286,432,668.64
Pool Balance (End of Collection Period) $276,215,637.06
Total Collection $11,741,216.10
Negative Carry Withdrawls $0.00
Reinvestment Income (including Pre-Funding Account and Spread Account) $88,504.99
Pre-Funding Account Reinvestment Income $0.00
Total Distribution Amount $11,829,721.09
MISCELLANEOUS DATA
TOTAL COLLATERAL
Scheduled Amounts 30 - 59 days past due $1,703,364.95
Scheduled Amounts 60 days or more past due $2,187,399.79
Net Losses on Liquidated Receivables $505,042.53
Number of Loans at Beginning of Period 11,809
Number of Loans at End of Period 11,623
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
</TABLE>
<PAGE>
Page 3 of 12
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
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
<TABLE>
<CAPTION>
<S><C>
Actual Payment Date 15-Oct-99
Collection Period Begin Date 04-Sep-99
Collection Period End Date 05-Oct-99
PART II -- SUMMARY
Total Principal Balance of Notes and Certificates (Beginning of Period) $286,432,668.64
A-1 Note Beginning Principal Balance $0.00
A-2 Note Beginning Principal Balance $0.00
A-3 Note Beginning Principal Balance $83,588,361.89
A-4 Note Beginning Principal Balance $180,449,000.00
B Note Beginning Principal Balance $11,457,306.75
Certificate Beginning Principal Balance $10,938,000.00
Total Principal Balance of Notes and Certificates (End of Period) $276,215,637.06
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) $73,780,011.58
A-3 Note Pool Factor (End of Period) 0.5062093
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) $11,048,625.48
B Note Pool Factor (End of Period) 0.4419450
Certificate Principal Balance (End of Period) $10,938,000.00
Certificate Pool Factor (End of Period) 1.0000000
COLLATERAL VALUE DECLINE $10,217,031.58
Pool Balance (Beg. of Collection Period) $286,432,668.64
Pool Balance (End of Collection Period) $276,215,637.06
Total Distribution Amount (TDA) $11,829,721.09
Total Collections and Investment Income for the Period $11,829,721.09
Negative Carry Withdrawls $0.00
Principal Distribution Amount (PDA) $10,217,031.58
Principal Allocation to Notes and Certificates $10,217,031.58
A-1 Noteholders' Principal Distributable Amount $0.00
A-2 Noteholders' Principal Distributable Amount $0.00
A-3 Noteholders' Principal Distributable Amount $9,808,350.32
A-4 Noteholders' Principal Distributable Amount $0.00
B Noteholders' Principal Distributable Amount $408,681.26
Certificateholders' Principal Distributable Amount $0.00
Interest Distributable Amount $1,387,369.16
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 $399,831.00
Noteholders' Interest Distributable Amount applicable to A-4 Notes $876,681.39
Noteholders' Interest Distributable Amount applicable to B Notes $56,713.67
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 $279,296.78
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 4.53%
Spread account % of Ending Pool Balance 4.53%
Overcollateralization % of Ending Pool Balance 0.00%
Scheduled Amounts 30 - 59 days past due $1,703,364.95
as % of Ending Pool Balance 0.62%
Scheduled Amounts 60 days or more past due $2,187,399.79
as % of Ending Pool Balance 0.79%
Net Losses on Liquidated Receivables $505,042.53
as % of Ending Pool Balance 0.18%
<PAGE>
Page 4 of 12
PART III -- SERVICING CALCULATIONS 15-Oct-99
1. SOURCES AND USES OF COLLECTION ACCOUNT BALANCE Pool 1 Cutoff Pool 1 Pool 2
Wtd. Avg. APR 8.758% 8.758% 8.597%
Contract Value (Beg. of Collection Period), by origination pool $130,609,102.13 $56,439,057.84
Contract Value (End of Collection Period), by origination pool $325,333,194.29 $125,425,047.45 $54,903,982.75
--------------- --------------- ---------------
Contract Value Decline $5,184,054.68 $1,535,075.09
3.97% 2.72%
Initial Pool Balance $624,998,868.47
Pool Balance (End of Collection Period) $276,215,637.06
Collections and Investment Income for the period $11,829,721.09
Negative Carry Withdrawls $0.00
Total Distribution Amount (TDA) $11,829,721.09
Principal Distribution Amount (PDA) $10,217,031.58
Initial B Percentage 4.000%
Unscheduled Principal (per pool) $0.00 $0.00
Total Unscheduled Principal $0.00
1. Sources and Uses of Collection Account Balance Pool 3 Pool 4 Pool 5
Wtd. Avg. APR 8.491% 9.174% 9.428%
Contract Value (Beg. of Collection Period), by origination pool $62,646,343.31 $36,601,816.98 $136,348.38
Contract Value (End of Collection Period), by origination pool $60,318,048.03 $35,431,362.93 $137,195.90
-------------- --------------- --------------
Contract Value Decline $2,328,295.28 $1,170,454.05 ($847.52)
3.72% 3.20% -0.62%
Initial Pool Balance
Pool Balance (End of Collection Period)
Collections and Investment Income for the period
Negative Carry Withdrawls
Total Distribution Amount (TDA)
Principal Distribution Amount (PDA)
Initial B Percentage
Unscheduled Principal (per pool) $0.00 $0.00 $0.00
Total Unscheduled Principal
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 $10,217,031.58
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
Principal Distribution Amount Remaining $10,217,031.58
A-3 Note Beginning Principal Balance $83,588,361.89
A-3 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-3 Noteholders' Share of the Principal Distribution Amount 96.00%
A-3 Noteholders' Principal Distributable Amount $9,808,350.32
Principal Distribution Amount Remaining $408,681.26
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 $408,681.26
B Note Beginning Principal Balance $11,457,306.75
B Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
B Noteholders' Share of the Principal Distribution Amount 4.00%
B Noteholders' Principal Distributable Amount $408,681.26
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 5.5450% $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 5.5920% $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 5.7400% $399,831.00
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 $399,831.00
Interest Accrued on Class A-4 Notes this period 5.8300% $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 $1,276,512.39
Offered Noteholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Offered Noteholders' Interest Distributable Amount $1,276,512.39
<PAGE>
Page 5 of 12
Interest Accrued on Class B Notes this period 5.9400% $56,713.67
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 $56,713.67
Interest Accrued on Certificates this period 5.9400% $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) $11,829,721.09
Administration Fee Shortfall (Previous Period) $0.00
Administration Fee Accrued during this Period $500.00 $166.67
Administration Fee Paid this Period from TDA $166.67
Administration Fee Shortfall $0.00
Total Distribution Amount Remaining $11,829,554.42
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 $399,831.00
Noteholders' Interest applicable to A-3 Notes Paid this Period from TDA $399,831.00
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 $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 $1,276,512.39
Offered Noteholders' Interest Paid this Period from TDA $1,276,512.39
Preliminary A Noteholders' Interest Carryover Shortfall (Current Period) $0.00
Total A Noteholders' Principal Carryover Shortfall $0.00
Total Distribution Amount Remaining $10,553,042.03
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 $56,713.67
Noteholders' Interest applicable to B Notes Paid this Period from TDA $56,713.67
Preliminary Noteholders' Interest Carryover Shortfall (Current Period)
applicable to B Notes $0.00
Total Distribution Amount Remaining $10,496,328.36
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 TDA $0.00
Preliminary A-1 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $10,496,328.36
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 $10,496,328.36
A-3 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-3 Noteholders' Monthly Principal Distributable Amount $9,808,350.32
A-3 Noteholders' Principal Distributable Amount Paid from TDA $9,808,350.32
Preliminary A-3 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $687,978.05
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 $687,978.05
<PAGE>
Page 6 of 12
B Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
B Noteholders' Monthly Principal Distributable Amount $408,681.26
B Noteholders' Principal Distributable Amount Paid from TDA $408,681.26
Preliminary B Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Excess Distribution Amount Remaining $279,296.78
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
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 $279,296.78
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 $12,779,274.15
Cumulative Realized Losses since 31-January-98 (Cut-off Date) $2,610,176.53
Are Cum. Realized Losses > 2.25% of Initial Pool Balance? NO
12*(Realized Losses during Collection Period + Repos at end of Collection Period) $6,060,510.36
Is 12*Realized Losses + Unliq. Repos > 1.65% of Beg. Pool Balance? YES
60 day or > Delinquent Scheduled Amounts $2,187,399.79
Are 60 day or > Delinquencies > 2.25% of Ending Pool Balance? NO
Are any of the three conditions "YES"? YES
Case Credit has discovered a systems error in the report used to
identify losses for the trust. The report only identified losses that had
been applied against dealer reserves. It failed to include in the loss
figure any losses that were not covered by dealer reserves. This resulted in
an inadvertent and immaterial understatement of losses in the monthly
servicer reports for years prior to 1999. The systems error had no impact on
historical loss figures reflected in the prospectuses for the ABS
transactions, which were generated separately and were accurate.
As a result of the systems error, Case Credit incorrectly absorbed the
losses that were not included in the monthly servicer reports through its
on-book reserves.
Case Credit will not charge these losses back to the trust. The cumulative
amount of losses that were inadvertently absorbed by Case Credit that should
have been charged
to the trust was: $ 360,728.75
If the monthly servicer reports for the trust were restated, the cumulative
loss test would would still have been met as indicated below:
Restated Cumulative Realized Losses: 2,970,905.28
Are Cumulative Realized Losses > 2.25% of the Initial Pool Balance? 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) $73,780,011.58
Preliminary A-4 Note Principal Balance (End of Period) $180,449,000.00
Preliminary B Note Principal Balance (End of Period) $11,048,625.48
Preliminary Total Principal Balance of Notes (End of Period) $265,277,637.06
Specified Spread Account Balance 12,499,977.37
Lesser of:
(a) 2.00% of the Initial Pool Balance 2.00% 12,499,977.37
(b) the Note Balance 265,277,637.06
Preliminary Spread Account Balance Remaining $12,779,274.15
Preliminary Excess Amount in Spread Account $279,296.78
Preliminary Shortfall Amount in Spread Account $0.00
Deposit to Spread Account from Remaing Excess Distribution $0.00
Spread Account Excess $279,296.78
Ending Spread Account Balance (after distributions) $12,499,977.37
Net Change in Spread Account Balance $0.00
<PAGE>
Page 7 of 12
Total Excess Distribution Amount Remaining $279,296.78
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 $225,153.68
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 $225,153.68
Servicing Fee Shortfall (Previous Period) $0.00
Servicing Fees Accrued during this Period 1.00% $238,693.89
Adjustment to Servicing Fee $0.00
Adjustment to Excess Distribution Amount Remaining ($0.00)
Servicing Fees Paid this Period from Excess Distribution $225,153.68
Servicing Fee Shortfall $13,540.21
Total Excess Distribution Amount Remaining $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 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) $0.00
A-3 Note Principal Balance (End of Period) $73,780,011.58
A-4 Note Principal Balance (End of Period) $180,449,000.00
B Note Principal Balance (End of Period) $11,048,625.48
Certificate Principal Balance (End of Period) $10,938,000.00
Total Principal Balance of Notes and Certificates (End of Period) $276,215,637.06
A-1 Note Pool Factor (End of Period) $72,113,000.00 0.0000000
A-2 Note Pool Factor (End of Period) $190,750,000.00 0.0000000
A-3 Note Pool Factor (End of Period) $145,750,000.00 0.5062093
A-4 Note Pool Factor (End of Period) $180,449,000.00 1.0000000
B Note Pool Factor (End of Period) $25,000,000.00 0.4419450
Certificate Pool Factor (End of Period) $10,938,000.00 1.0000000
Total Notes & Certificates Pool Factor (End of Period) 0.4419450
Specified Spread Account Balance (after all distributions and adjustments) $12,499,977.37
</TABLE>
<PAGE>
Page 8 of 12
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(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: $0.00
per $1,000 original principal amount: $0.00
(c) A-3 Notes: $9,808,350.32
per $1,000 original principal amount: $67.30
(d) A-4 Notes: $0.00
per $1,000 original principal amount: $0.00
(e) B Notes: $408,681.26
per $1,000 original principal amount: $16.35
(f) Total $10,217,031.58
(2) Interest on the Notes
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00
(b) A-2 Notes: $0.00
per $1,000 original principal amount: $0.00
(c) A-3 Notes: $399,831.00
per $1,000 original principal amount: $2.74
(d) A-4 Notes: $876,681.39
per $1,000 original principal amount: $4.86
(e) B Notes: $56,713.67
per $1,000 original principal amount: $2.27
(f) Total $1,333,226.06
(3) Pool Balance at the end of the related Collection Period $276,215,637.06
(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: $0.00
(ii) A-2 Note Pool Factor: 0.0000000
(c) (i) outstanding principal amount of A-3 Notes: $73,780,011.58
(ii) A-3 Note Pool Factor: 0.5062093
(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: $11,048,625.48
(ii) B Note Pool Factor: 0.4419450
(f) (i) Certificate Balance $10,938,000.00
(ii) Certificate Pool Factor: 1.0000000
(5) Amount of Servicing Fee: $225,153.68
per $1,000 Beginning of Collection Period: 1.72387437
(6) Amount of Administration Fee: $166.67
per $1,000 Beginning of Collection Period: 0.00127607
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $505,042.53
(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
</TABLE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
<PAGE>
Page 9 of 12
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(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: $0.00
per $1,000 original principal amount: $0.00
(c) A-3 Notes: $9,808,350.32
per $1,000 original principal amount: $67.30
(d) A-4 Notes: $0.00
per $1,000 original principal amount: $0.00
(e) B Notes: $408,681.26
per $1,000 original principal amount: $16.35
(f) Certificates: $0.00
per $1,000 original principal amount: $0.00
(g) Total: $10,217,031.58
(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: $0.00
per $1,000 original principal amount: $0.00
(c) A-3 Notes: $399,831.00
per $1,000 original principal amount: $2.74
(d) A-4 Notes: $876,681.39
per $1,000 original principal amount: $4.86
(e) B Notes: $56,713.67
per $1,000 original principal amount: $2.27
(f) Certificates: $54,143.10
per $1,000 original principal amount: $4.95
(g) Total: $1,387,369.16
(3) Pool Balance at end of related Collection Period: $276,215,637.06
(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: $0.00
(ii) A-2 Note Pool Factor: 0.0000000
(c) (i) outstanding principal amount of A-3 Notes: $73,780,011.58
(ii) A-3 Note Pool Factor: 0.5062093
(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: $11,048,625.48
(ii) C Note Pool Factor: 0.4419450
(f) (i) Certificate Balance $10,938,000.00
(ii) Certificate Pool Factor: 1.0000000
(5) Amount of Servicing Fee: $225,153.68
per $1,000 Beginning of Collection Period: 1.7238744
(6) Amount of Administration Fee: $166.67
per $1,000 Beginning of Collection Period: 0.0012761
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $505,042.53
(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
</TABLE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
<PAGE>
Page 10 of 12
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(1) Payment of Administration Fee to Administrator: $166.67
(2) Offered Noteholders' Interest Distributable Amount
deposited into Note Distribution Account: $1,333,226.06
(3) Noteholders' Principal Distributable Amount to be
deposited into Noteholders' Distribution Account: $10,217,031.58
(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: $225,153.68
(7) Release to Seller from Excess Collections over Distributions $0.00
Check for Error NO ERROR
Sum of Above Distributions $11,829,721.09
Total Distribution Amount plus Releases to Seller $11,829,721.09
</TABLE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
<PAGE>
Page 11 of 12
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(1) Total Distribution Amount: $11,829,721.09
(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: $399,831.00
(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: $56,713.67
(12) Noteholders' Interest Carryover Shortfall applicable to B Notes: $0.00
(13) Offered Noteholders' Interest Distributable Amount' $1,333,226.06
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: $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: $9,808,350.32
(23) % of Fixed Rate Principal Distribution Amount applicable to A-3 Noteholders 96.00%
(24) A-3 Noteholders' Principal Carryover Shortfall: $0.00
<PAGE>
Page 12 of 12
(25) A-3 Noteholders' Principal Distributable Amount: $9,808,350.32
(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: $408,681.26
(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: $408,681.26
(34) Noteholders' Principal Distribution Amount: $10,217,031.58
(35) Noteholders' Distributable Amount: $11,550,257.64
(36) Deposit to Spread Account (from excess collections): $279,296.78
(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 $265,277,637.06
(38) Spread Account Balance over the Specified Spread Account Balance: $279,296.78
(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: $225,153.68
(47) Excess Amounts Distributed To Seller:
(a) Release of Remaining Fixed and Floating Rate Excess Distributions $0.00
(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: $286,432,668.64
(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: $0.00
A-2 Note Pool Factor: 0.0000000
Outstanding Principal Balance of A-3 Notes: $73,780,011.58
A-3 Note Pool Factor: 0.5062093
Outstanding Principal Balance of A-4 Notes: $180,449,000.00
A-4 Note Pool Factor: 1.0000000
Outstanding Principal Balance of B Notes: $11,048,625.48
B Note Pool Factor: 0.4419450
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: $505,042.53
(53) Spread Account Balance after giving effect to all distributions: $12,499,977.37
</TABLE>
<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
26-Oct-99
10:33 AM
Prepared by Sally Nelson (414) 636-5637 File: us98b1.xls
<TABLE>
<CAPTION>
<S><C>
---------------------------------------------------------------------
NPV Data Input Section 31-Jul-98 31-Jul-98 31-Aug-98
Scheduled cash flows as of the indicated cutoff date ---------------------------------------------------------------------
Row 0 is total delinquent amount valued without discounting Pool 1 (Retail) Cutoff Pool 2 (FPL) Cutoff Pool 3 (Retail) Cutoff
1,223,550.43 488,950.11 227,513.66
12,106,658.00 2,516,183.49 2,550,465.05
8,409,202.39 1,893,688.39 1,992,727.52
8,997,726.43 1,960,786.46 1,993,691.84
10,171,208.37 2,063,823.67 2,155,489.86
12,715,731.73 1,954,159.58 2,312,038.62
9,099,256.42 1,792,726.48 1,787,823.30
8,535,974.50 1,766,075.80 1,788,562.35
15,306,449.46 1,890,605.11 1,798,508.17
18,443,017.15 1,881,117.92 1,865,546.07
16,957,243.00 1,877,027.40 2,236,650.41
16,376,885.05 1,817,623.64 6,367,990.47
10,651,992.79 1,866,206.49 4,393,608.36
9,163,394.05 1,889,230.81 1,851,865.86
8,086,054.38 1,816,250.01 2,143,268.38
8,842,211.38 1,872,281.06 2,093,064.00
10,005,085.81 1,964,666.24 2,267,816.18
12,231,104.34 1,898,030.47 2,189,581.36
8,797,636.97 1,687,469.97 1,720,098.07
8,255,782.24 1,644,541.62 1,725,097.62
14,973,400.70 1,754,779.58 1,723,639.47
17,996,394.47 1,717,963.17 1,708,763.23
16,387,208.39 1,697,653.50 2,062,832.44
15,692,745.55 1,647,572.33 6,249,025.98
9,927,634.13 1,673,274.10 4,029,935.57
8,258,696.56 1,681,124.45 1,708,178.19
7,198,681.74 1,595,209.75 1,969,787.75
8,082,732.30 1,613,786.06 2,011,316.11
9,188,498.36 1,637,923.98 2,047,578.88
11,121,258.86 1,539,370.45 2,034,695.16
7,667,179.49 1,398,649.52 1,595,005.29
7,462,994.43 1,326,009.93 1,568,248.09
14,024,372.46 1,372,213.36 1,550,840.17
16,752,855.26 1,282,023.39 1,565,138.66
14,788,215.88 1,223,618.90 1,911,851.22
13,836,398.02 1,133,716.33 5,930,710.61
8,036,258.20 1,138,664.27 3,703,440.80
6,279,376.38 1,125,940.91 1,377,443.44
5,034,136.82 1,045,792.71 1,580,903.96
5,901,975.89 1,024,587.50 1,585,785.91
6,752,591.27 1,106,606.17 1,661,452.56
8,045,835.19 999,458.48 1,582,206.12
5,513,567.92 845,330.20 1,205,325.13
5,192,319.67 805,200.79 1,201,516.28
8,386,321.78 787,865.67 1,176,550.16
11,514,765.67 726,022.34 1,228,403.34
9,777,959.48 626,005.45 1,446,777.59
8,899,382.72 580,109.26 4,590,105.48
4,477,511.85 557,076.29 2,336,437.52
2,817,291.23 491,193.77 455,453.41
1,810,888.90 460,441.81 615,074.75
2,565,938.18 427,320.86 690,160.74
3,186,828.87 463,747.29 781,567.09
4,092,686.58 409,038.86 677,424.20
2,363,732.39 336,499.67 424,618.93
2,264,572.85 254,756.54 294,399.44
4,476,612.63 250,249.73 310,690.14
6,906,236.81 238,339.80 313,886.41
5,629,888.08 131,056.39 609,968.32
5,295,239.38 97,868.67 2,664,290.64
1,725,376.78 47,534.40 1,347,398.15
458,843.05 26,996.20 89,447.45
171,032.59 26,996.20 193,827.50
260,367.62 17,246.87 156,510.52
282,397.46 74,475.21 139,820.39
239,911.47 7,755.20 25,908.95
53,028.41 7,755.20 7,965.05
52,287.49 7,755.20 5,002.91
378,380.01 7,755.20 5,002.91
547,106.25 23,865.28 5,002.91
121,960.35 - 89,387.07
224,027.78 - 80,572.23
- - -
- - -
- - -
Total Time Balance of Scheduled Cash Flows 547,472,069.46 76,013,641.91 119,788,682.38
---------------------------------------------------------------------
NPV Data Input Section 05-Oct-99 05-Oct-99 05-Oct-99
Scheduled cash flows as of the indicated cutoff date ---------------------------------------------------------------------
Row 0 is total delinquent amount valued without discounting Pool 1 Pool 2 Pool 3
6,252,960.13 1,662,132.59 1,606,792.32
7,305,442.09 1,533,813.00 1,801,802.34
8,233,083.76 1,620,725.20 1,781,391.71
9,594,700.07 1,534,227.44 1,843,484.29
7,075,497.63 1,361,420.90 1,835,110.99
6,578,267.06 1,312,939.51 1,431,504.81
12,489,334.17 1,392,670.11 1,391,567.97
14,283,042.04 1,371,516.09 1,398,150.97
13,033,120.60 1,367,442.70 1,384,899.33
12,351,334.17 1,310,281.44 1,699,833.58
7,842,370.49 1,344,882.27 4,900,109.08
6,099,029.25 1,328,937.38 3,131,944.18
5,842,385.11 1,263,753.11 1,392,658.16
6,216,478.56 1,295,197.53 1,546,790.23
7,166,954.91 1,345,685.39 1,657,656.61
8,349,978.12 1,242,420.66 1,654,091.22
6,096,104.44 1,139,018.84 1,686,319.68
5,882,880.48 1,078,701.83 1,310,487.95
11,748,589.71 1,113,668.98 1,255,199.67
13,251,785.21 1,016,330.76 1,244,215.52
11,651,165.79 985,682.86 1,252,538.46
10,770,085.63 899,840.46 1,555,730.35
6,336,750.55 916,524.95 4,541,354.77
4,535,180.41 909,406.26 2,856,441.52
4,122,841.41 821,751.90 1,121,688.36
4,466,382.38 809,716.02 1,235,429.55
5,178,844.01 896,546.12 1,301,089.69
5,848,317.05 786,160.52 1,351,700.62
4,367,495.95 682,163.66 1,339,887.60
3,980,135.92 653,532.12 1,013,192.81
6,711,029.57 641,191.11 970,004.78
8,770,494.19 559,031.11 957,993.23
7,534,576.99 474,443.66 1,011,403.44
6,764,848.07 437,435.79 1,190,436.37
3,420,023.96 419,683.87 3,461,223.06
1,949,776.39 360,612.76 1,767,633.32
1,492,984.81 336,891.89 411,138.05
1,777,805.32 311,775.33 509,286.04
2,321,152.35 357,042.09 601,777.23
2,795,445.41 290,837.64 652,266.12
1,818,442.50 262,100.24 601,343.64
1,646,489.99 191,008.89 366,967.36
3,631,676.39 188,078.32 252,552.57
5,097,921.44 180,280.46 261,868.80
4,171,894.30 101,894.15 256,678.66
3,842,574.83 70,491.56 533,688.34
1,355,684.05 30,143.41 1,907,617.74
385,047.93 11,335.03 924,574.26
151,869.05 11,335.03 77,110.55
232,424.05 17,246.87 163,764.26
223,347.70 74,475.21 117,940.57
187,405.04 7,755.20 123,909.86
47,889.12 7,755.20 29,650.65
45,210.03 7,755.20 7,715.05
435,221.59 7,755.20 4,752.91
366,742.70 23,865.28 4,752.91
105,043.01 0.00 4,752.91
172,450.72 0.00 89,137.07
1,170.70 0.00 71,323.39
1,170.70 0.00 1,363.14
1,170.70 0.00 1,363.14
0.00 0.00 1,363.14
0.00 0.00 1,363.14
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
Total Time Balance of Scheduled Cash Flows 304,409,520.70 40,379,311.10 70,861,780.04
</TABLE>
<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
Settle Date
Prepared by Sally Nelson (414) 636-5637 10/26/99 10:33 AM
<TABLE>
<CAPTION>
<S><C>
Scheduled Payment Date 15-Oct-99
Actual Payment Date 15-Oct-99
Collection Period Begin Date 04-Sep-99
Collection Period End Date 31-Jul-98 31-Jul-98 31-Aug-98 05-Oct-99
Days in accrual period (30/360) 30
Days in accrual period (ACT/360) 30
PART I -- MONTHLY DATA INPUT
Receipts During the Period $17,163,735.80
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 $17,163,735.80
Pool Balance (Beg. of Collection Period) $381,380,533.03
Pool Balance (End of Collection Period) $365,919,486.36
Total Receivables Collection $17,163,735.80
Negative Carry Withdrawls $0.00
Yield Supplement Withdrawals $285,585.91
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) $122,956.84
Pre-Funding Account Reinvestment Income $0.00
Total Distribution Amount $17,572,278.55
MISCELLANEOUS DATA
TOTAL COLLATERAL
Scheduled Amounts 30 - 59 days past due $2,865,609.15
Scheduled Amounts 60 days or more past due $3,240,413.21
Net Losses on Liquidated Receivables $982,717.40
Number of Loans at Beginning of Period 16,909
Number of Loans at End of Period 16,669
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
</TABLE>
<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
<TABLE>
<CAPTION>
<S><C>
Actual Payment Date 15-Oct-99
Collection Period Begin Date 04-Sep-99
Collection Period End Date 05-Oct-99
PART II -- SUMMARY
Total Principal Balance of Notes, Deferred Purchase Price and
Certificates (Beginning of Period) $381,380,533.03
A-1 Note Beginning Principal Balance $0.00
A-2 Note Beginning Principal Balance $78,831,311.71
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 $15,255,221.32
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) $365,919,486.36
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) $63,988,706.91
A-2 Note Pool Factor (End of Period) 0.3199435
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) $14,636,779.45
B Note Pool Factor (End of Period) 0.5854712
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 (endof Period) 1.0000000
COLLATERAL VALUE DECLINE $15,461,046.67
Pool Balance (Beg. of Collection Period) $381,380,533.03
Pool Balance (End of Collection Period) $365,919,486.36
Total Distribution Amount (TDA) $17,572,278.55
Total Collections and Investment Income for the Period $17,286,692.64
Negative Carry Withdrawls $0.00
Yield Supplement Withdrawals $285,585.91
Principal Distribution Amount (PDA) $15,461,046.67
Principal Allocation to Notes, Deferred Purchase Price and Certificates $15,461,046.67
A-1 Noteholders' Principal Distributable Amount (including Carryover Shortfall) $0.00
A-2 Noteholders' Principal Distributable Amount (including Carryover Shortfall) $14,842,604.80
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) $618,441.87
Deferred Purchase Price Principal Distributable Amount (including Carryover Shortfall) $0.00
Certificateholders' Principal Distribuatable Amount (including Carryover Shortfall) $0.00
Interest Distributable Amount $1,855,810.61
Noteholders' Interest Distributable Amount applicable to A-1 Notes $0.00
Noteholders' Interest Distributable Amount applicable to A-2 Notes $374,448.73
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 $76,148.98
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 $317,650.44
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 3.42%
Spread account % of Ending Pool Balance 3.42%
Overcollateralization % of Ending Pool Balance 0.00%
Scheduled Amounts 30 - 59 days past due $2,865,609.15
as % of Ending Pool Balance 0.78%
Scheduled Amounts 60 days or more past due $3,240,413.21
as % of Ending Pool Balance 0.89%
Net Losses on Liquidated Receivables $982,717.40
as % of Ending Pool Balance 0.27%
<PAGE>
PART III -- SERVICING CALCULATIONS
1. SOURCES AND USES OF COLLECTION ACCOUNT BALANCE Pool 1 (Retail) Cutoff Pool 2 (FPL) Cutoff Pool 3 (Retail) Cutoff
Wtd. Avg. APR 8.559% 8.559% 8.668%
Contract Value (Beg. of Collection Period), by origination pool
Contract Value (End of Collection Period), by origination pool $459,900,298.88 $65,328,940.14 $99,766,610.37
--------------- -------------- --------------
Contract Value Decline
Initial Pool Balance
Pool Balance (End of Collection Period)
Collections and Investment Income for the period
Negative Carry Withdrawls
Yield Supplement Withdrawals
Total Distribution Amount (TDA)
Principal Distribution Amount (PDA)
Initial B Percentage
Unscheduled Principal (per pool)
Total Unscheduled Principal
2. CALCULATION OF DISTRIBUTABLE AMOUNTS
Principal Distributable Amount 15,461,046.67
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' Principal Distributable Amount
(including One-Time Excess Prefund Acct. Pmt.) $0.00
One-Time Excess Prefunding Account Payment $0.00
A-1 Noteholders' Principal Distributable Amount (including
Carryover Shortfall) $0.00
Principal Distributable Amount Remaining $15,461,046.67
A-2 Note Beginning Principal Balance $78,831,311.71
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 (including
Carryover Shortfall) $14,842,604.80
Principal Distributable Amount Remaining $618,441.87
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 $618,441.87
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 $618,441.87
B Note Beginning Principal Balance $15,255,221.32
B Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
B Noteholders' Share of the Principal Distribution Amount 4.00%
B Noteholders' Principal Distributable Amount (including
Carryover Shortfall) $618,441.87
Principal Distributable Amount Remaining $0.00
Deferred Purchase Price Beginning Principal Balance $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 5.6075% ACT/360 $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 5.7000% 30/360 $374,448.73
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 $374,448.73
Interest Accrued on Class A-3 Notes this period 5.8100% 30/360 $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 5.9200% 30/360 $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
15-Oct-99
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 $277,126,406.73 $38,088,463.59 $66,165,662.71
Contract Value (End of Collection Period), by origination pool $267,990,655.75 $36,248,694.14 $61,680,136.47
--------------- -------------- --------------
Contract Value Decline $9,135,750.98 $1,839,769.45 $4,485,526.24
3.30% 4.83% 6.78%
Initial Pool Balance $624,995,849.39
Pool Balance (End of Collection Period) $365,919,486.36
Collections and Investment Income for the period $17,286,692.64
Negative Carry Withdrawls $0.00
Yield Supplement Withdrawals $285,585.91
Total Distribution Amount (TDA) $17,572,278.55
Principal Distribution Amount (PDA) $15,461,046.67
Initial B Percentage 4.000%
Unscheduled Principal (per pool) $0.00 $0.00 $700,517.37
Total Unscheduled Principal $700,517.37
<PAGE>
Interest Accrued on Class A-1, A-2, A-3 and A-4 Notes this period $1,717,265.79
Offered Noteholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Offered Noteholders' Interest Distributable Amount $1,717,265.79
Interest Accrued on Class B Notes this period 5.9900% 30/360 $76,148.98
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 $76,148.98
Interest Accrued on Deferred Purchase Price this period 5.9900% 30/360 $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 5.9900% 30/360 $499.17
Certificateholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on Above Shortfall $0.00
Certificateholders' Interest Distributable Amount $499.17
3. ALLOCATION OF DISTRIBUTION AMOUNTS
a. Total Distribution Amount (TDA) $17,572,278.55
Administration Fee Shortfall (Previous Period) $0.00
Administration Fee Accrued during this Period $500.00 per quarter $166.67
Administration Fee Paid this Period from TDA $166.67
Administration Fee Shortfall $0.00
Total Distribution Amount Remaining $17,572,111.88
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 $374,448.73
Noteholders' Interest applicable to A-2 Notes Paid this Period from TDA $374,448.73
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 $1,717,265.79
Offered Noteholders' Interest Paid this Period from TDA $1,717,265.79
Preliminary A Noteholders' Interest Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $15,854,846.09
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 $76,148.98
Noteholders' Interest applicable to B Notes Paid this Period from TDA $76,148.98
Preliminary Noteholders' Interest Carryover Shortfall (Current Period)
applicable to B Notes $0.00
Total Distribution Amount Remaining $15,778,697.11
A-1 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-1 Noteholders' Monthly Principal Distributable Amount (including
Caryover Shortfall) $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 $15,778,697.11
A-2 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-2 Noteholders' Monthly Principal Distributable Amount (including
Caryover Shortfall) $14,842,604.80
A-2 Noteholders' Principal Distributable Amount Paid from TDA $14,842,604.80
Preliminary A-2 Noteholders' Principal Carryover Shortfall (Current
Period) $0.00
Total Distribution Amount Remaining $936,092.31
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 $936,092.31
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 $936,092.31
B Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
B Noteholders' Monthly Principal Distributable Amount (including
Caryover Shortfall) $618,441.87
B Noteholders' Principal Distributable Amount Paid from TDA $618,441.87
Preliminary B Noteholders' Principal Carryover Shortfall (Current
Period) $0.00
Total Excess Distribution Amount Remaining $317,650.44
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
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
<PAGE>
Negative Carry 3.268374%
Number of Days Remaining 0 days
Pre-Funded Percentage 0.000%
Negative Carry Withdrawls $0.00
Cumulative Negative Carry Withdrawls $300,471.65
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. RECONCILATION OF YIELD SUPPLEMENT ACCOUNT
Beginning Yield Supplement Account Balance $2,120,564.15
Deposit to Yield Supplement Account from Pre-Funding Account $0.00
Receivables Percentage 100.00%
Withdrawal of Yield Supplement Amount $285,585.91
Maximum Yield Supplement Amount $1,834,978.24
Required Yield Supplement Amount $1,834,978.24
Interim Yield Supplement Account Balance $1,834,978.24
Yield Supplement Amount Released to Seller $0.00
Ending Yield Supplement Account Balance $1,834,978.24
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 $317,650.44
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 $12,817,567.43
<PAGE>
Cumulative Realized Losses since 31-July-98 (Cut-off Date) $3,446,866.12
Are Cum. Realized Losses > 2.25% of Initial Pool Balance? NO
12*(Realized Losses during Collection Period + Repos at end of Collection
Period) $11,792,608.80
Is 12*Realized Losses + Unliq. Repos > 1.65% of Beg. Pool Balance? YES
60 day or > Delinquent Scheduled Amounts $3,240,413.21
Are 60 day or > Delinquencies > 2.25% of Ending Pool Balance? NO
Are any of the three conditions "YES"? YES
Case Credit has discovered a systems error in the report used to identify
losses for the trust. The report only identified losses that had been applied
against dealer reserves. It failed to include in the loss figure any losses
that were not covered by dealer reserves. This resulted in an inadvertent and
immaterial understatement of losses in the monthly servicer reports for years
prior to 1999. The systems error had no impact on historical loss figures
reflected in the prospectuses for the ABS transactions, which were generated
separately and were accurate.
As a result of the systems error, Case Credit incorrectly absorbed the losses
that were not included in the monthly servicer reports through its on-book
reserves. Case Credit will not charge these losses back to the trust. The
cumulative amount of losses that were inadvertently absorbed by Case Credit
that should have been charged to the trust was $47,514.04
If the monthly servicer reports for the trust were restated, the cumulative
loss test would still have been met as indicated below:
Restated Cumulative Realized Losses: 3,494,380.16
Are Cum. Realized Losses > 2.25% of Initial Pool Balance? NO
Preliminary A-1 Note Principal Balance (End of Period) $0.00
Preliminary A-2 Note Principal Balance (End of Period) $63,988,706.91
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) $14,636,779.45
Preliminary Total Principal Balance of Notes (End of Period) $353,419,486.36
Specified Spread Account Balance 12,499,916.99
Lesser of:
(a) 2.00% of the Initial Pool Balance 2.00% 12,499,916.99
(b) the Note Balance 353,419,486.36
Preliminary Spread Account Balance Remaining $12,817,567.43
Preliminary Excess Amount in Spread Account $317,650.44
Preliminary Shortfall Amount in Spread Account $0.00
Deposit to Spread Account from Remaing Excess Distribution $0.00
Spread Account Excess $317,650.44
Ending Spread Account Balance (after distributions) $12,499,916.99
Net Change in Spread Account Balance $0.00
Total Excess Distribution Amount Remaining $317,650.44
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 $255,254.60
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 $255,254.60
Servicing Fee Shortfall (Previous Period) $0.00
Servicing Fees Accrued during this Period 1.00% $317,817.11
Adjustment to Servicing Fee $0.00
Adjustment to Excess Distribution Amount Remaining $0.00
Servicing Fees Paid this Period from Excess Distribution $255,254.60
Servicing Fee Shortfall $62,562.51
Total Excess Distribution Amount Remaining $0.00
<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) $0.00
A-2 Note Principal Balance (End of Period) $63,988,706.91
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) $14,636,779.45
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) $365,919,486.36
A-1 Note Pool Factor (End of Period) $112,706,000.00 0.0000000
A-2 Note Pool Factor (End of Period) $200,000,000.00 0.3199435
A-3 Note Pool Factor (End of Period) $140,000,000.00 1.0000000
A-4 Note Pool Factor (End of Period) $134,794,000.00 1.0000000
B Note Pool Factor (End of Period) $25,000,000.00 0.5854712
Deferred Purchase Price Pool Factor (End of Period) $12,400,000.00 1.0000000
Certificate Pool Factor (endof Period) $100,000.00 1.0000000
Total Notes, Deferred Purchase Price & Certificates Pool Factor
(End of Period) 0.5854712
Specified Spread Account Balance (after all distributions and
adjustments) $12,499,916.99
Yield Supplement Account Balance (after alldistributions and
adjustment): $1,834,978.24
</TABLE>
<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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(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: $14,842,604.80
per $1,000 original principal amount: $74.21
(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: $618,441.87
per $1,000 original principal amount: $24.74
(f) Total $15,461,046.67
(2) Interest Paid on the Notes
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00
(b) A-2 Notes: $374,448.73
per $1,000 original principal amount: $1.87
(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: $76,148.98
per $1,000 original principal amount: $3.05
(f) Total $1,793,414.77
(3) Pool Balance at the end of the related Collection Period $365,919,486.36
(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: $63,988,706.91
(ii) A-2 Note Pool Factor: 0.3199435
(c) (i) outstanding principal amount of A-3 Notes: $140,000,000.00
(ii) A-3 Note Pool Fac 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: $14,636,779.45
(ii) B Note Pool Factor: 0.5854712
(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: $255,254.60
per $1,000 Beginning of Collection Period: 0.92107643
(6) Amount of Administration Fee: $166.67
per $1,000 Beginning of Collection Period: 0.00060141
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $982,717.40
(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: $1,834,978.24
</TABLE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(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: $14,842,604.80
per $1,000 original principal amount: $74.21
(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
<PAGE>
(e) B Notes: $618,441.87
per $1,000 original principal amount: $24.74
(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: $15,461,046.67
(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: $374,448.73
per $1,000 original principal amount: $1.87
(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: $76,148.98
per $1,000 original principal amount: $3.05
(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: $1,855,810.61
(3) Pool Balance at end of related Collection Period: $365,919,486.36
(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: $63,988,706.91
(ii) A-2 Note Pool Factor: 0.3199435
(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: $14,636,779.45
(ii) C Note Pool Factor: 0.5854712
(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: $255,254.60
per $1,000 Beginning of Collection Period: 0.9210764
(6) Amount of Administration Fee: $166.67
per $1,000 Beginning of Collection Period: 0.0006014
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $982,717.40
(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: $1,834,978.24
</TABLE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(1) Payment of Administration Fee to Administrator: $166.67
(2) Offered Noteholders' Interest Distributable Amount
deposited into Note Distribution Account: $1,793,414.77
(3) Noteholders' Principal Distributable Amount to be
deposited into Noteholders' Distribution Account: $15,461,046.67
(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: $255,254.60
(9) Release to Seller from Excess Collections over Distributions $0.00
Check for Error NO ERROR
Sum of Above Distributions $17,572,278.55
Total Distribution Amount plus Releases to Seller $17,572,278.55
</TABLE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
<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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(1) Total Distribution Amount: $17,572,278.55
(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: $374,448.73
(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: $76,148.98
(12) Noteholders' Interest Carryover Shortfall applicable to B Notes: $0.00
(13) Offered Noteholders' Interest Distributable Amount' $1,793,414.77
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: $14,842,604.80
(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: $14,842,604.80
(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: $618,441.87
(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: $618,441.87
(34) Noteholders' Principal Distribution Amount: $15,461,046.67
(35) Noteholders' Distributable Amount: $17,254,461.44
(36) Deposit to Spread Account (from excess collections): $317,650.44
(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 $353,419,486.36
(38) Spread Account Balance over the Specified Spread Account Balance: $317,650.44
(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
(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
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
<PAGE>
(46) Servicing Fee: $255,254.60
</TABLE>
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
<TABLE>
<CAPTION>
<S><C>
Payment Date: 00-Jan-00
(47) Excess Amounts Distributed To Seller:
(a) Release of Remaining Fixed and Floating Rate Excess Distributions $0.00
(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: $381,380,533.03
(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: $63,988,706.91
A-2 Note Pool Factor: 0.3199435
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: $14,636,779.45
B Note Pool Factor: 0.5854712
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: $982,717.40
(53) Spread Account Balance after giving effect to all distributions: $12,499,916.99
</TABLE>
<PAGE>
CASE EQUIPMENT LOAN TRUST 1998-C
$86,400,000 Class A-1 5.42% Asset Backed Notes due December 15, 1999
$250,000,000 Class A-2 5.49% Asset Backed Notes due August 15, 2002
$110,000,000 Class A-3 5.52% Asset Backed Notes due June 15, 2003
$148,350,000 Class A-4 5.61% Asset Backed Notes due April 15, 2005
$34,125,000 Class B 6.20% Asset Backed Notes due April 15, 2005
$21,025,000 6.20% Deferred Purchase Price
$100,000 6.20% Asset Backed Certificates
<TABLE>
<CAPTION>
<S><C>
27-Oct-99
09:43 PM
Prepared by Sally Nelson (414) 636-5637 File: us98-c3.xls
---------------------------------------------------------------------
NPV Data Input Section 31-Oct-98 31-Oct-98 30-Nov-98
---------------------------------------------------------------------
Scheduled cash flows as of the indicated cutoff date Pool 1 (Retail) Cutoff Pool 2 (LPL) Cutoff Pool 3 (Retail) Cutoff
Row 0 is total delinquent amount valued without discounting 1,575,417.93 893,634.21 219,386.35
12,428,455.95 4,354,139.23 2,644,522.52
7,371,846.12 4,674,788.83 1,584,402.47
5,289,520.70 2,544,216.93 1,855,974.40
5,549,122.56 2,881,522.46 1,704,737.57
5,505,194.10 3,871,835.68 1,961,839.20
4,841,682.97 2,994,089.99 1,921,414.50
4,735,558.70 2,501,055.77 1,868,954.33
7,284,400.76 1,980,387.14 2,141,734.04
7,653,812.72 2,680,818.10 3,617,113.04
21,545,307.93 3,075,152.55 2,351,879.43
17,563,069.20 2,396,425.69 12,867,986.46
13,896,057.40 3,406,721.59 8,634,128.19
7,630,180.31 3,038,517.25 2,795,157.06
7,333,548.54 5,607,985.11 1,931,437.32
4,538,294.37 2,660,146.64 1,726,348.93
4,735,598.76 3,431,092.35 1,693,724.42
4,676,012.46 4,794,930.31 1,953,339.63
4,279,116.05 3,585,222.15 1,847,727.58
4,258,063.42 2,918,011.82 1,804,299.69
4,834,936.67 2,702,553.33 2,020,268.67
5,837,618.11 3,052,838.45 3,250,869.84
18,406,951.02 3,387,245.79 2,265,861.38
14,429,414.68 2,874,484.95 12,693,501.44
9,799,857.01 3,050,881.01 8,518,011.39
5,747,699.28 3,304,658.17 2,534,168.99
6,646,864.59 4,872,982.01 1,826,923.92
4,073,116.36 2,529,108.55 1,607,600.24
4,242,598.85 3,440,621.84 1,589,325.37
4,301,149.03 3,598,961.33 1,820,250.82
3,931,310.80 3,438,274.88 1,696,093.38
3,817,604.92 2,477,709.00 1,678,611.69
4,410,871.91 1,630,415.36 1,892,656.68
5,306,408.17 2,041,407.37 2,959,438.93
17,223,090.60 2,413,573.36 1,977,856.42
13,550,783.42 2,055,505.92 12,344,536.46
8,821,655.67 1,957,189.55 8,124,445.59
4,882,176.71 1,759,653.26 2,137,158.76
5,611,324.84 2,311,011.13 1,494,488.17
3,289,450.23 1,618,491.96 1,264,402.10
3,234,177.22 1,965,389.75 1,214,337.67
3,204,975.44 2,085,981.24 1,371,092.65
2,927,498.69 2,155,442.07 1,336,450.33
2,942,625.98 2,048,778.26 1,288,553.24
3,391,248.11 1,282,570.89 1,535,024.03
4,120,665.41 1,428,449.02 2,344,258.90
14,086,732.21 1,063,786.42 1,574,209.35
9,773,524.10 1,066,070.37 10,399,765.13
5,934,968.38 1,193,865.28 6,707,017.01
2,864,720.06 1,091,887.29 1,370,272.60
3,473,332.00 1,511,046.96 914,610.17
1,547,204.93 921,688.02 643,093.43
1,532,851.50 729,104.05 539,291.51
1,383,990.96 1,047,778.43 630,126.48
1,093,526.42 1,351,693.73 647,505.70
1,159,104.92 1,095,311.66 593,611.52
1,490,135.83 222,192.60 805,506.57
2,415,661.06 80,369.23 1,473,600.06
10,473,190.48 301,655.28 855,709.82
6,749,706.28 80,861.17 8,044,965.35
3,600,290.25 89,459.32 5,281,694.34
1,181,371.47 137,361.69 890,749.68
1,317,014.18 7,213.44 508,368.45
220,165.78 19,217.85 136,994.39
157,479.31 9,491.94 89,798.40
254,513.22 100,609.82 66,207.24
21,238.46 34,119.17 57,752.19
22,370.17 130,382.97 22,016.45
133,181.56 - 37,634.02
118,180.66 - 192,217.79
541,767.57 - 284,885.72
352,439.24 - 449,919.50
- - -
- - -
- - -
Total Time Balance of Scheduled Cash Flows 393,574,995.64 142,060,038.94 183,129,817.04
NPV Data Input Section 31-Dec-98 05-Oct-99 05-Oct-99
Scheduled cash flows as of the indicated cutoff date Pool 4 Cutoff Pool 1 Pool 2
Row 0 is total delinquent amount valued without discounting 33,131.38 9,290,403.01 2,135,787.84
373,024.70 12,336,231.00 2,921,638.49
331,825.70 6,970,252.27 2,910,998.68
198,202.41 6,152,077.17 4,801,808.95
253,145.06 3,968,179.05 2,331,173.51
182,192.78 3,934,163.37 2,636,573.17
308,642.59 3,949,682.65 4,361,406.73
219,274.67 3,639,314.74 3,165,163.71
1,091,139.13 3,686,622.89 2,667,677.95
221,591.35 3,950,849.42 2,447,686.39
1,318,785.71 4,822,696.02 2,547,960.82
6,880,653.60 13,517,166.38 2,529,491.03
2,171,880.61 11,705,310.13 2,578,266.35
526,293.33 8,453,912.56 2,581,470.63
267,480.99 4,990,235.14 2,952,098.45
238,436.12 5,379,901.67 3,982,715.82
260,467.73 3,513,644.62 2,319,672.43
190,044.34 3,542,086.29 2,654,046.25
338,461.53 3,605,245.74 3,079,189.04
193,705.53 3,325,978.05 3,045,896.88
896,254.51 3,266,934.05 2,168,991.88
215,171.81 3,524,183.77 1,295,338.39
1,366,028.67 4,335,455.18 1,628,368.80
6,824,318.61 12,584,004.25 1,697,336.72
2,152,830.95 10,847,415.86 1,808,967.69
525,487.46 7,520,394.86 1,767,434.49
266,675.12 4,211,327.39 1,558,154.71
237,630.25 4,543,033.10 1,848,833.14
258,887.95 2,832,491.06 1,279,260.92
186,115.89 2,661,183.45 1,648,111.53
336,881.75 2,671,724.50 1,784,793.77
192,125.75 2,448,607.46 1,739,579.63
884,331.10 2,511,022.59 1,721,749.08
213,592.03 2,700,538.33 1,042,180.76
1,327,375.07 3,325,993.85 1,200,653.25
6,754,523.64 9,971,721.07 761,117.12
2,077,491.32 7,680,348.65 875,017.72
496,715.29 4,907,385.51 800,285.55
224,642.11 2,418,130.44 840,568.08
199,130.89 2,738,032.96 1,126,205.61
244,162.29 1,292,736.46 801,354.75
171,390.23 1,168,195.97 652,583.98
308,779.73 1,088,298.89 918,365.05
173,123.92 882,233.82 1,260,968.74
805,125.15 962,800.76 962,650.42
192,425.66 1,096,899.81 171,405.85
1,290,026.06 1,876,970.59 63,389.74
6,558,541.95 7,132,150.15 216,549.56
1,935,987.48 4,946,367.71 70,380.29
416,832.34 3,009,917.44 78,963.44
136,546.60 1,069,268.18 79,663.44
128,776.08 1,055,517.94 7,213.44
182,994.25 216,942.88 19,217.85
87,351.94 106,817.43 9,491.94
244,252.16 85,867.63 90,113.94
113,441.22 10,868.86 23,623.29
585,805.47 19,147.27 30,510.00
130,959.21 97,450.34 0.00
1,155,440.97 70,524.58 0.00
6,214,444.85 502,774.38 0.00
1,670,381.52 249,821.62 0.00
282,761.68 0.00 0.00
69,159.38 0.00 0.00
74,593.28 0.00 0.00
61,103.02 0.00 0.00
13,216.03 0.00 0.00
26,734.25 0.00 0.00
3,901.29 0.00 0.00
100,576.33 0.00 0.00
7,375.08 0.00 0.00
563,848.78 0.00 0.00
175,873.46 0.00 0.00
- 0.00 0.00
- 0.00 0.00
- 0.00 0.00
Total Time Balance of Scheduled Cash Flows 65,360,521.09 245,375,453.21 92,700,117.68
NPV Data Input Section 05-Oct-99 05-Oct-99
Scheduled cash flows as of the indicated cutoff date Pool 3 Pool 4
Row 0 is total delinquent amount valued without discounting 1,739,411.80 208,940.18
11,128,793.43 1,209,922.66
7,599,989.20 5,941,824.50
2,585,493.27 1,872,822.92
1,711,038.89 419,206.31
1,560,373.94 221,285.60
1,506,172.97 196,893.46
1,736,012.14 181,965.78
1,673,428.74 169,015.37
1,572,214.11 243,819.05
1,767,621.95 172,750.75
2,586,568.11 643,485.24
1,858,884.22 158,899.32
10,896,798.46 1,258,117.68
7,475,702.87 5,866,542.61
2,331,268.76 1,820,081.72
1,615,767.88 419,206.31
1,461,291.91 221,285.60
1,407,180.63 196,893.46
1,607,374.71 181,965.78
1,537,232.90 166,666.70
1,457,612.60 239,570.92
1,656,636.30 172,750.75
2,325,707.47 633,141.61
1,733,647.26 158,899.32
10,550,329.79 1,221,043.86
7,090,413.43 5,798,815.06
1,969,274.00 1,741,714.32
1,317,889.61 401,427.24
1,145,130.18 179,473.71
1,097,131.72 184,794.84
1,236,473.01 169,867.16
1,208,492.18 154,568.08
1,113,363.69 222,620.24
1,344,427.86 160,652.13
1,844,460.75 606,359.32
1,375,071.80 144,835.92
8,831,351.08 1,193,021.44
5,843,861.04 5,666,299.92
1,278,640.63 1,654,436.52
812,910.04 349,671.36
583,690.63 104,997.03
497,129.08 125,572.76
575,059.61 122,243.76
587,958.39 84,148.62
479,463.78 164,949.23
723,582.46 110,237.90
1,184,302.27 451,438.08
759,812.54 91,403.61
6,727,298.56 1,081,078.98
4,640,927.32 5,345,153.19
844,941.54 1,409,730.99
457,578.81 222,280.53
115,601.72 69,159.38
84,766.14 74,593.28
61,174.98 22,874.39
52,714.93 13,216.03
16,984.19 26,734.25
33,147.29 3,901.29
175,524.25 86,013.14
259,107.82 7,735.93
370,324.18 522,119.66
0.00 143,625.51
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
Total Time Balance of Scheduled Cash Flows 141,822,535.82 53,108,762.26
</TABLE>
<PAGE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
CASE EQUIPMENT LOAN TRUST 1998-C
$86,400,000 Class A-1 5.42% Asset Backed Notes due December 15, 1999
$250,000,000 Class A-2 5.49% Asset Backed Notes due August 15, 2002
$110,000,000 Class A-3 5.52% Asset Backed Notes due June 15, 2003
$148,350,000 Class A-4 5.61% Asset Backed Notes due April 15, 2005
$34,125,000 Class B 6.20% Asset Backed Notes due April 15, 2005
$21,025,000 6.20% Deferred Purchase Price
$100,000 6.20% Asset Backed Certificates
Settle Date 18-Nov-98
Prepared by Sally Nelson (414) 636-5637 10/27/99 09:43 PM
<TABLE>
<CAPTION>
<S><C>
Scheduled Payment Date 15-Oct-99
Actual Payment Date 15-Oct-99
Collection Period Begin Date 04-Sep-99
Collection Period End Date 31-Oct-98 31-Oct-98 30-Nov-98 31-Dec-98 05-Oct-99
Days in accrual period (30/360) 30
Days in accrual period (ACT/360) 30
PART I -- MONTHLY DATA INPUT
Receipts During the Period $39,272,934.54
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 $39,272,934.54
Pool Balance (Beg. of Collection Period) $496,676,500.55
Pool Balance (End of Collection Period) $460,566,522.60
Total Receivables Collection $39,272,934.54
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) $177,141.40
Pre-Funding Account Reinvestment Income $0.00
Total Distribution Amount $39,450,075.94
MISCELLANEOUS DATA
TOTAL COLLATERAL
Scheduled Amounts 30 - 59 days past due $4,540,156.58
Scheduled Amounts 60 days or more past due $1,619,300.43
Net Losses on Liquidated Receivables $376,627.11
Number of Loans at Beginning of Period 14,745
Number of Loans at End of Period 14,119
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
</TABLE>
<PAGE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
CASE EQUIPMENT LOAN TRUST 1998-C
$86,400,000 Class A-1 5.42% Asset Backed Notes due December 15, 1999
$250,000,000 Class A-2 5.49% Asset Backed Notes due August 15, 2002
$110,000,000 Class A-3 5.52% Asset Backed Notes due June 15, 2003
$148,350,000 Class A-4 5.61% Asset Backed Notes due April 15, 2005
$34,125,000 Class B 6.20% Asset Backed Notes due April 15, 2005
$21,025,000 6.20% Deferred Purchase Price
$100,000 6.20% Asset Backed Certificates
<TABLE>
<CAPTION>
<S><C>
Actual Payment Date 15-Oct-99
Collection Period Begin Date 04-Sep-99
Collection Period End Date 05-Oct-99
PART II -- SUMMARY
Total Principal Balance of Notes, Deferred Purchase Price and Certificates (Beginning of Period) $496,665,712.83
A-1 Note Beginning Principal Balance $0.00
A-2 Note Beginning Principal Balance $191,115,196.55
A-3 Note Beginning Principal Balance $110,000,000.00
A-4 Note Beginning Principal Balance $148,350,000.00
B Note Beginning Principal Balance $26,075,516.28
Deferred Purchase Price Beginning Principal Balance $21,025,000.00
Certificate Beginning Principal Balance $100,000.00
Total Principal Balance of Notes, Deferred Purchase Price and Certificates (End of Period) $460,555,734.88
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) $156,900,992.44
A-2 Note Pool Factor (End of Period) 0.6276040
A-3 Note Principal Balance (End of Period) $110,000,000.00
A-3 Note Pool Factor (End of Period) 1.0000000
A-4 Note Principal Balance (End of Period) $148,350,000.00
A-4 Note Pool Factor (End of Period) 1.0000000
B Note Principal Balance (End of Period) $24,179,742.44
B Note Pool Factor (End of Period) 0.7085639
Deferred Purchase Price Principal Balance (End of Period) $21,025,000.00
Deferred Purchase Price Pool Factor (End of Period) 1.0000000
Certificate Principal Balance (end of Period) $100,000.00
Certificate Pool Factor (endof Period) 1.0000000
COLLATERAL VALUE DECLINE $36,109,977.95
Pool Balance (Beg. of Collection Period) $496,676,500.55
Pool Balance (End of Collection Period) $460,566,522.60
Total Distribution Amount (TDA) $39,450,075.94
Total Collections and Investment Income for the Period $39,450,075.94
Negative Carry Withdrawls $0.00
Yield Supplement Withdrawals $0.00
Principal Distribution Amount (PDA) $36,109,977.95
Principal Allocation to Notes, Deferred Purchase Price and Certificates $36,109,977.95
A-1 Noteholders' Principal Distributable Amount (including Carryover Shortfall) $0.00
A-2 Noteholders' Principal Distributable Amount (including Carryover Shortfall) $34,214,204.11
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) $1,895,773.84
Deferred Purchase Price Principal Distributable Amount (including Carryover Shortfall) $0.00
Certificateholders' Principal Distribuatable Amount (including Carryover Shortfall) $0.00
Interest Distributable Amount $2,317,757.61
Noteholders' Interest Distributable Amount applicable to A-1 Notes $0.00
Noteholders' Interest Distributable Amount applicable to A-2 Notes $874,352.02
Noteholders' Interest Distributable Amount applicable to A-3 Notes $506,000.00
Noteholders' Interest Distributable Amount applicable to A-4 Notes $693,536.25
Noteholders' Interest Distributable Amount applicable to B Notes $134,723.50
Deferred Purchase Price Interest Distributable Amount $108,629.17
Certificateholders' Interest Distributable Amount $516.67
Spread Account
Beginning Spread Account Balance $13,000,215.75
Deposit to Spread Account from Pre-Funding Account $0.00
Deposit to Spread Account from Excess Collections over Distributions $1,131,319.55
Distribution from Spread Account for Interest / Principal Shortfall $0.00
Specified Spread Account Balance $13,000,215.75
Ending Spread Account Balance (after distributions) $13,000,215.75
Credit Enhancement 2.82%
Spread account % of Ending Pool Balance 2.82%
Overcollateralization % of Ending Pool Balance 0.00%
Scheduled Amounts 30 - 59 days past due $4,540,156.58
as % of Ending Pool Balance 0.99%
Scheduled Amounts 60 days or more past due $1,619,300.43
as % of Ending Pool Balance 0.35%
Net Losses on Liquidated Receivables $376,627.11
as % of Ending Pool Balance 0.08%
<PAGE>
PART III -- SERVICING CALCULATIONS 15-Oct-99
1. SOURCES AND USES OF COLLECTION ACCOUNT BALANCE Pool 1 (Retail) Cutoff Pool 2 (LPL) Cutoff
Wtd. Avg. APR 8.689% 8.689%
Contract Value (Beg. of Collection Period), by origination pool
Contract Value (End of Collection Period), by origination pool $327,736,982.68 $120,892,288.63
Contract Value Decline
Initial Pool Balance
Pool Balance (End of Collection Period)
Collections and Investment Income for the period
Negative Carry Withdrawls
Yield Supplement Withdrawals
Total Distribution Amount (TDA)
Principal Distribution Amount (PDA)
Initial B Percentage
Unscheduled Principal (per pool)
Total Unscheduled Principal
1. SOURCES AND USES OF COLLECTION ACCOUNT BALANCE Pool 3 (Retail) Cutoff Pool 4 Cutoff Pool 1
Wtd. Avg. APR 8.577% 8.504% 8.689%
Contract Value (Beg. of Collection Period), by origination pool $237,134,188.67
Contract Value (End of Collection Period), by origination pool $149,354,402.32 $52,027,114.09 $212,263,960.76
Contract Value Decline $24,870,227.91
10.49%
Initial Pool Balance $2,916,332,054.19
Pool Balance (End of Collection Period) $460,566,522.60
Collections and Investment Income for the period $39,450,075.94
Negative Carry Withdrawls $0.00
Yield Supplement Withdrawals $0.00
Total Distribution Amount (TDA) $39,450,075.94
Principal Distribution Amount (PDA) $36,109,977.95
Initial B Percentage 5.250%
Unscheduled Principal (per pool) $177,079.17
Total Unscheduled Principal $4,758,728.89
1. SOURCES AND USES OF COLLECTION ACCOUNT BALANCE Pool 2 Pool 3 Pool 4
Wtd. Avg. APR 8.689% 8.577% 8.504%
Contract Value (Beg. of Collection Period), by origination pool $85,268,244.96 $127,338,054.65 $46,936,012.27
Contract Value (End of Collection Period), by origination pool $82,180,049.79 $121,531,406.99 $44,591,105.06
Contract Value Decline $3,088,195.17 $5,806,647.66 $2,344,907.21
3.62% 4.56% 5.00%
Initial Pool Balance
Pool Balance (End of Collection Period)
Collections and Investment Income for the period
Negative Carry Withdrawls
Yield Supplement Withdrawals
Total Distribution Amount (TDA)
Principal Distribution Amount (PDA)
Initial B Percentage
Unscheduled Principal (per pool) $0.00 $2,553,245.48 $2,028,404.24
Total Unscheduled Principal
2. CALCULATION OF DISTRIBUTABLE AMOUNTS
Principal Distributable Amount 36,109,977.95
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' Principal Distributable Amount (including
One-Time Excess Prefund Acct. Pmt.) $0.00
One-Time Excess Prefunding Account Payment $0.00
A-1 Noteholders' Principal Distributable Amount (including Carryover Shortfall) $0.00
Principal Distributable Amount Remaining $36,109,977.95
A-2 Note Beginning Principal Balance $191,115,196.55
A-2 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-2 Noteholders' Share of the Principal Distribution Amount 94.75%
A-2 Noteholders' Principal Distributable Amount (including Carryover Shortfall) $34,214,204.11
Principal Distributable Amount Remaining $1,895,773.84
A-3 Note Beginning Principal Balance $110,000,000.00
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 $1,895,773.84
A-4 Note Beginning Principal Balance $148,350,000.00
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 $1,895,773.84
B Note Beginning Principal Balance $26,075,516.28
B Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
B Noteholders' Share of the Principal Distribution Amount 5.25%
B Noteholders' Principal Distributable Amount (including Carryover Shortfall) $1,895,773.84
Principal Distributable Amount Remaining $0.00
Deferred Purchase Price Beginning Principal Balance $21,025,000.00
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 5.4200% ACT/360 $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 5.4900% 30/360 $874,352.02
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 $874,352.02
Interest Accrued on Class A-3 Notes this period 5.5200% 30/360 $506,000.00
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 $506,000.00
Interest Accrued on Class A-4 Notes this period 5.6100% 30/360 $693,536.25
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 $693,536.25
Interest Accrued on Class A-1, A-2, A-3 and A-4 Notes this period $2,073,888.27
Offered Noteholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Offered Noteholders' Interest Distributable Amount $2,073,888.27
Interest Accrued on Class B Notes this period 6.2000% 30/360 $134,723.50
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 $134,723.50
Interest Accrued on Deferred Purchase Price this period 6.2000% 30/360 $108,629.17
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 $108,629.17
Interest Accrued on Certificates this period 6.2000% 30/360 $516.67
Certificateholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on Above Shortfall $0.00
Certificateholders' Interest Distributable Amount $516.67
<PAGE>
3. ALLOCATION OF DISTRIBUTION AMOUNTS
a. Total Distribution Amount (TDA) $39,450,075.94
Administration Fee Shortfall (Previous Period) $0.00
Administration Fee Accrued during this Period $500.00 per quarter $166.67
Administration Fee Paid this Period from TDA $166.67
Administration Fee Shortfall $0.00
Total Distribution Amount Remaining $39,449,909.27
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 $874,352.02
Noteholders' Interest applicable to A-2 Notes Paid this Period from TDA $874,352.02
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 $506,000.00
Noteholders' Interest applicable to A-3 Notes Paid this Period from TDA $506,000.00
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 $693,536.25
Noteholders' Interest applicable to A-4 Notes Paid this Period from TDA $693,536.25
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 $2,073,888.27
Offered Noteholders' Interest Paid this Period from TDA $2,073,888.27
Preliminary A Noteholders' Interest Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $37,376,021.00
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 $134,723.50
Noteholders' Interest applicable to B Notes Paid this Period from TDA $134,723.50
Preliminary Noteholders' Interest Carryover Shortfall (Current Period)
applicable to B Notes $0.00
Total Distribution Amount Remaining $37,241,297.50
A-1 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-1 Noteholders' Monthly Principal Distributable Amount (including Caryover Shortfall) $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 $37,241,297.50
A-2 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-2 Noteholders' Monthly Principal Distributable Amount (including Caryover Shortfall) $34,214,204.11
A-2 Noteholders' Principal Distributable Amount Paid from TDA $34,214,204.11
Preliminary A-2 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $3,027,093.39
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 $3,027,093.39
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 $3,027,093.39
B Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
B Noteholders' Monthly Principal Distributable Amount (including Caryover Shortfall) $1,895,773.84
B Noteholders' Principal Distributable Amount Paid from TDA $1,895,773.84
Preliminary B Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Excess Distribution Amount Remaining $1,131,319.55
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
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 3.052000%
Number of Days Remaining 177 days 0 days
Pre-Funded Percentage 0.000%
Negative Carry Withdrawls $0.00
Cumulative Negative Carry Withdrawls $593,232.45
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. RECONCILATION OF YIELD SUPPLEMENT ACCOUNT
Beginning Yield Supplement Account Balance $513,057.49
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 $513,057.49
Required Yield Supplement Amount $513,057.49
Interim Yield Supplement Account Balance $513,057.49
Yield Supplement Amount Released to Seller $0.00
Ending Yield Supplement Account Balance $513,057.49
7. DISTRIBUTIONS FROM SPREAD ACCOUNT
Beginning Spread Account Balance $13,000,215.75
Deposit to Spread Account from Pre-Funding Account $0.00
Deposit to Spread Account from Excess Collections over Distributions $1,131,319.55
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
<PAGE>
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 $14,131,535.30
Cumulative Realized Losses since 31-July-98 (Cut-off Date) $819,050.69
Are Cum. Realized Losses > 2.25% of Initial Pool Balance? NO
12*(Realized Losses during Collection Period + Repos at end of Collection Period) $4,519,525.32
Is 12*Realized Losses + Unliq. Repos > 1.65% of Beg. Pool Balance? NO
60 day or > Delinquent Scheduled Amounts $1,619,300.43
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) $156,900,992.44
Preliminary A-3 Note Principal Balance (End of Period) $110,000,000.00
Preliminary A-4 Note Principal Balance (End of Period) $148,350,000.00
Preliminary B Note Principal Balance (End of Period) $24,179,742.44
Preliminary Total Principal Balance of Notes (End of Period) $439,430,734.88
Specified Spread Account Balance 13,000,215.75
Lesser of:
(a) 2.00% of the Initial Pool Balance 2.00% 13,000,215.75
(b) the Note Balance 439,430,734.88
Preliminary Spread Account Balance Remaining $14,131,535.30
Preliminary Excess Amount in Spread Account $1,131,319.55
Preliminary Shortfall Amount in Spread Account $0.00
Deposit to Spread Account from Remaing Excess Distribution $0.00
Spread Account Excess $1,131,319.55
Ending Spread Account Balance (after distributions) $13,000,215.75
Net Change in Spread Account Balance $0.00
Total Excess Distribution Amount Remaining $1,131,319.55
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 $108,629.17
Deferred Purchase Price Interest Paid from Excess Distribution $108,629.17
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 $516.67
Certificateholders' Interest Paid from Excess Distribution $516.67
Certificateholders' Interest Carryover Shortfall (Current Period) $0.00
Total Excess Distribution Amount Remaining $1,022,173.71
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 $1,022,173.71
Servicing Fee Shortfall (Previous Period) $0.00
Servicing Fees Accrued during this Period 1.00% $413,897.08
Adjustment to Servicing Fee $0.00
Adjustment to Excess Distribution Amount Remaining $0.00
Servicing Fees Paid this Period from Excess Distribution $413,897.08
Servicing Fee Shortfall $0.00
Total Excess Distribution Amount Remaining $608,276.63
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) $0.00
A-2 Note Principal Balance (End of Period) $156,900,992.44
A-3 Note Principal Balance (End of Period) $110,000,000.00
A-4 Note Principal Balance (End of Period) $148,350,000.00
B Note Principal Balance (End of Period) $24,179,742.44
Deferred Purchase Price Principal Balance (End of Period) $21,025,000.00
Certificate Principal Balance (end of Period) $100,000.00
Total Principal Balance of Notes, Deferred Purchase Price and
Certificates (End of Period) $460,555,734.88
A-1 Note Pool Factor (End of Period) $86,400,000.00 0.0000000
A-2 Note Pool Factor (End of Period) $250,000,000.00 0.6276040
A-3 Note Pool Factor (End of Period) $110,000,000.00 1.0000000
A-4 Note Pool Factor (End of Period) $148,350,000.00 1.0000000
B Note Pool Factor (End of Period) $34,125,000.00 0.7085639
Deferred Purchase Price Pool Factor (End of Period) $21,025,000.00 1.0000000
Certificate Pool Factor (endof Period) $100,000.00 1.0000000
Total Notes, Deferred Purchase Price & Certificates Pool Factor (End of Period) 0.7085473
Specified Spread Account Balance (after all distributions and adjustments) $13,000,215.75
Yield Supplement Account Balance (after alldistributions and adjustment): $513,057.49
</TABLE>
<PAGE>
CASE EQUIPMENT LOAN TRUST 1998-C
STATEMENT TO NOTEHOLDERS
$86,400,000 Class A-1 5.42% Asset Backed Notes due December 15, 1999
$250,000,000 Class A-2 5.49% Asset Backed Notes due August 15, 2002
$110,000,000 Class A-3 5.52% Asset Backed Notes due June 15, 2003
$148,350,000 Class A-4 5.61% Asset Backed Notes due April 15, 2005
$34,125,000 Class B 6.20% Asset Backed Notes due April 15, 2005
$21,025,000 6.20% Deferred Purchase Price
$100,000 6.20% Asset Backed Certificates
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(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: $34,214,204.11
per $1,000 original principal amount: $136.86
(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: $1,895,773.84
per $1,000 original principal amount: $55.55
(f) Total $36,109,977.95
(2) Interest Paid on the Notes
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00
(b) A-2 Notes: $874,352.02
per $1,000 original principal amount: $3.50
(c) A-3 Notes: $506,000.00
per $1,000 original principal amount: $4.60
(d) A-4 Notes: $693,536.25
per $1,000 original principal amount: $4.68
(e) B Notes: $134,723.50
per $1,000 original principal amount: $3.95
(f) Total $2,208,611.77
(3) Pool Balance at the end of the related Collection Period $460,566,522.60
(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: $156,900,992.44
(ii) A-2 Note Pool Factor: 0.6276040
(c) (i) outstanding principal amount of A-3 Notes: $110,000,000.00
(ii) A-3 Note Pool Fac 1.0000000
(d) (i) outstanding principal amount of A-4 Notes: $148,350,000.00
(ii) A-4 Note Pool Factor: 1.0000000
(e) (i) outstanding principal amount of B Notes: $24,179,742.44
(ii) B Note Pool Factor: 0.7085639
(f) (i) Deferred Purchase Price Balance $21,025,000.00
(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: $413,897.08
per $1,000 Beginning of Collection Period: 1.74541295
(6) Amount of Administration Fee: $166.67
per $1,000 Beginning of Collection Period: 0.00070284
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $376,627.11
(9) Amount in Spread Account: $13,000,215.75
(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: $513,057.49
</TABLE>
<PAGE>
CASE EQUIPMENT LOAN TRUST 1998-C
STATEMENT TO CERTIFICATEHOLDERS
$86,400,000 Class A-1 5.42% Asset Backed Notes due December 15, 1999
$250,000,000 Class A-2 5.49% Asset Backed Notes due August 15, 2002
$110,000,000 Class A-3 5.52% Asset Backed Notes due June 15, 2003
$148,350,000 Class A-4 5.61% Asset Backed Notes due April 15, 2005
$34,125,000 Class B 6.20% Asset Backed Notes due April 15, 2005
$21,025,000 6.20% Deferred Purchase Price
$100,000 6.20% Asset Backed Certificates
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(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: $34,214,204.11
per $1,000 original principal amount: $136.86
(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: $1,895,773.84
per $1,000 original principal amount: $55.55
(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: $36,109,977.95
(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: $874,352.02
per $1,000 original principal amount: $3.50
(c) A-3 Notes: $506,000.00
per $1,000 original principal amount: $4.60
(d) A-4 Notes: $693,536.25
per $1,000 original principal amount: $4.68
(e) B Notes: $134,723.50
per $1,000 original principal amount: $3.95
(f) Deferred Purchase Price: $108,629.17
per $1,000 original principal amount: $5.17
(g) Certificates: $516.67
per $1,000 original principal amount: $5.17
(h) Total: $2,317,757.61
(3) Pool Balance at end of related Collection Period: $460,566,522.60
(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: $156,900,992.44
(ii) A-2 Note Pool Factor: 0.6276040
(c) (i) outstanding principal amount of A-3 Notes: $110,000,000.00
(ii) A-3 Note Pool Factor: 1.0000000
(d) (i) outstanding principal amount of A-4 Notes: $148,350,000.00
(ii) A-4 Note Pool Factor: 1.0000000
(e) (i) outstanding principal amount of B Notes: $24,179,742.44
(ii) C Note Pool Factor: 0.7085639
(f) (i) Deferred Purchase Price Balance $21,025,000.00
(ii) Certificate Pool Factor: 1.0000000
(g) (i) Certificate Balance 100,000.00
(ii) Certificate Pool Factor: 1.0000000
(5) Amount of Servicing Fee: $413,897.08
per $1,000 Beginning of Collection Period: 1.7454129
(6) Amount of Administration Fee: $166.67
per $1,000 Beginning of Collection Period: 0.0007028
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $376,627.11
(9) Amount in Spread Account: $13,000,215.75
(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: $513,057.49
</TABLE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
<PAGE>
CASE EQUIPMENT LOAN TRUST 1998-C
PAYMENT AND DEPOSIT INSTRUCTIONS TO INDENTURE TRUSTEE
$86,400,000 Class A-1 5.42% Asset Backed Notes due December 15, 1999
$250,000,000 Class A-2 5.49% Asset Backed Notes due August 15, 2002
$110,000,000 Class A-3 5.52% Asset Backed Notes due June 15, 2003
$148,350,000 Class A-4 5.61% Asset Backed Notes due April 15, 2005
$34,125,000 Class B 6.20% Asset Backed Notes due April 15, 2005
$21,025,000 6.20% Deferred Purchase Price
$100,000 6.20% Asset Backed Certificates
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(1) Payment of Administration Fee to Administrator: $166.67
(2) Offered Noteholders' Interest Distributable Amount
deposited into Note Distribution Account: $2,208,611.77
(3) Noteholders' Principal Distributable Amount to be
deposited into Noteholders' Distribution Account: $36,109,977.95
(4) Deferred Purchase Price Interest Distributable Amount to be
deposited into Deferred Purchase Price Distribution Account: $108,629.17
(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: $516.67
(7) Certificateholders' Principal Distributable Amount to be
deposited into Certificateholders' Distribution Account: $0.00
(8) Payment of Servicing Fee to Servicer: $413,897.08
(9) Release to Seller from Excess Collections over Distributions $608,276.63
Check for Error NO ERROR
Sum of Above Distributions $39,450,075.94
Total Distribution Amount plus Releases to Seller $39,450,075.94
</TABLE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
<PAGE>
CASE EQUIPMENT LOAN TRUST 1998-C
SERVICER'S CERTIFICATE
$86,400,000 Class A-1 5.42% Asset Backed Notes due December 15, 1999
$250,000,000 Class A-2 5.49% Asset Backed Notes due August 15, 2002
$110,000,000 Class A-3 5.52% Asset Backed Notes due June 15, 2003
$148,350,000 Class A-4 5.61% Asset Backed Notes due April 15, 2005
$34,125,000 Class B 6.20% Asset Backed Notes due April 15, 2005
$21,025,000 6.20% Deferred Purchase Price
$100,000 6.20% Asset Backed Certificates
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(1) Total Distribution Amount: $39,450,075.94
(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: $874,352.02
(6) Noteholders' Interest Carryover Shortfall applicable to A-2 Notes: $0.00
(7) Noteholders' Interest Distributable Amount applicable to A-3 Notes: $506,000.00
(8) Noteholders' Interest Carryover Shortfall applicable to A-3 Notes: $0.00
(9) Noteholders' Interest Distributable Amount applicable to A-4 Notes: $693,536.25
(10) Noteholders' Interest Carryover Shortfall applicable to A-4 Notes: $0.00
(11) Noteholders' Interest Distributable Amount applicable to b Notes: $134,723.50
(12) Noteholders' Interest Carryover Shortfall applicable to B Notes: $0.00
(13) Offered Noteholders' Interest Distributable Amount' $2,208,611.77
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: $34,214,204.11
(19) % of Fixed Rate Principal Distribution Amount applicable to A-2 Noteholders 94.75%
(20) A-2 Noteholders' Principal Carryover Shortfall: $0.00
(21) A-2 Noteholders' Principal Distributable Amount: $34,214,204.11
(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: $1,895,773.84
(31) % of Fixed Rate & Floating Rate Principal Distribution Amount
applicable to B Noteholders 5.25%
(32) B Noteholders' Principal Carryover Shortfall: $0.00
(33) B Noteholders' Principal Distributable Amount: $1,895,773.84
(34) Noteholders' Principal Distribution Amount: $36,109,977.95
(35) Noteholders' Distributable Amount: $38,318,589.72
(36) Deposit to Spread Account (from excess collections): $1,131,319.55
(37) Specified Spread Account Balance (after all distributions and adjustments) : $13,000,215.75
The Lesser of:
(a) 2.00% of the Initial Pool Balance $13,000,215.75
(b) the Note Balance $439,430,734.88
(38) Spread Account Balance over the Specified Spread Account Balance: $1,131,319.55
(39) Deffered Purchase Price Interest Distribution Amount: $108,629.17
(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: $108,629.17
(39) Certificateholders' Interest Distribution Amount: $516.67
(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: $516.67
(46) Servicing Fee: $413,897.08
</TABLE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
CASE EQUIPMENT LOAN TRUST 1998-C
SERVICER'S CERTIFICATE
$86,400,000 Class A-1 5.42% Asset Backed Notes due December 15, 1999
$250,000,000 Class A-2 5.49% Asset Backed Notes due August 15, 2002
$110,000,000 Class A-3 5.52% Asset Backed Notes due June 15, 2003
$148,350,000 Class A-4 5.61% Asset Backed Notes due April 15, 2005
$34,125,000 Class B 6.20% Asset Backed Notes due April 15, 2005
$21,025,000 6.20% Deferred Purchase Price
$100,000 6.20% Asset Backed Certificates
<TABLE>
<CAPTION>
<S><C>
Payment Date: 00-Jan-00
(47) Excess Amounts Distributed To Seller:
(a) Release of Remaining Fixed and Floating Rate Excess Distributions $608,276.63
(b) Release of Excess Amount in Negative Carry Account $0.00
(b) Release of Excess Amount in Yield Supplement Account $0.00
<PAGE>
(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: $496,676,500.55
(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: $156,900,992.44
A-2 Note Pool Factor: 0.6276040
Outstanding Principal Balance of A-3 Notes: $110,000,000.00
A-3 Note Pool Factor: 1.0000000
Outstanding Principal Balance of A-4 Notes: $148,350,000.00
A-4 Note Pool Factor: 1.0000000
Outstanding Principal Balance of B Notes: $24,179,742.44
B Note Pool Factor: 0.7085639
Outstanding Principal Balance of the Deferred Purchase Price: $21,025,000.00
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: $376,627.11
(53) Spread Account Balance after giving effect to all distributions: $13,000,215.75
</TABLE>
<PAGE>
27-Oct-99
Mr. Bruce Fabrikant
Senior Analyst
Moody's Investors Service
99 Church Street, 4th Floor
New York, NY 10007
Subject: Case Equipment Loan Trust 1998-C
Dear Bruce:
Per our agreement at closing, the following information regarding the Case
Equipment Loan Trust 1998-C is provided to Moody's for the following collection
period.
<TABLE>
<CAPTION>
<S><C>
Pool Balance on 04-Sep-99
$496,676,500.55
Pool Balance on 05-Oct-99
$460,566,522.60
Realized Losses during collection period: $376,627.11
Aggregate Scheduled Payments delinquent by more
than 60 days at the end of collection period: $1,619,300.43
Aggregate Contract Value of all Receivables as to
which the related Financed Equipment has been
repossessed but in which the Receivable has not
been liquidated at the end of the collection period: $0.00
Total Collections During the Collection Period: $39,450,075.94
</TABLE>
Sincerely,
Ralph Than
Case Credit Corporation
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
<PAGE>
CASE EQUIPMENT LOAN TRUST 1999-A
$75,550,000 Class A-1 4.950% Asset Backed Notes due April 7, 2000
$294,000,000 Class A-2 5.285% Asset Backed Notes due September 15, 2002
$137,000,000 Class A-3 5.600% Asset Backed Notes due July 15, 2003
$221,950,000 Class A-4 5.770% Asset Backed Notes due August 15, 2005
$31,000,000 Class B 5.960% Asset Backed Notes due August 15, 2005
$15,500,000 5.960% Asset Backed Certificates
Prepared by Lisa Sorenson (414)636-6184
<TABLE>
<CAPTION>
<S><C>
------------------------------------------------------------------
NPV Data Input Section 05-Oct-99 05-Oct-99 05-Oct-99 05-Oct-99
Scheduled cash flows as of the ------------------------------------------------------------------
Pool 1A (Retail) Pool 1B (FPL) Pool 1C (Forestry) Pool 2
2,630,657.95 1,049,534.47 486,752.68 907,945.81
5,483,843.40 1,329,466.86 475,529.92 1,852,155.33
12,750,303.89 1,353,237.13 464,759.04 2,176,972.91
19,203,094.47 1,386,808.30 458,861.40 2,286,089.61
12,070,405.80 1,248,201.14 435,130.82 2,580,371.13
6,105,704.02 1,395,897.95 441,061.88 7,754,938.01
3,981,614.80 1,140,510.47 428,506.97 5,082,130.62
3,761,201.50 1,173,732.07 431,502.37 1,671,113.17
3,900,000.64 1,083,040.33 430,144.96 1,497,604.80
4,395,338.15 1,143,853.70 453,110.07 1,565,315.66
4,393,143.52 1,085,956.55 448,333.42 1,660,159.00
5,172,433.49 1,095,630.64 448,333.36 1,864,495.43
3,990,740.11 1,109,816.36 445,726.99 1,768,118.99
5,220,050.66 1,080,016.48 445,726.99 1,802,983.15
12,454,548.82 1,295,002.65 445,726.99 2,087,429.08
19,739,718.99 1,139,635.01 442,516.65 2,335,084.07
11,672,956.00 949,974.65 414,380.52 2,519,052.29
5,713,568.64 1,119,572.18 415,751.98 7,568,693.55
3,595,237.99 948,567.36 406,035.07 4,887,862.12
3,392,575.59 967,493.56 411,147.37 1,655,224.58
3,475,482.06 894,443.18 411,147.37 1,386,633.36
3,928,326.96 990,177.48 433,424.78 1,439,433.87
4,059,055.30 968,286.65 431,968.68 1,507,978.17
4,683,615.02 892,734.66 424,702.38 1,730,421.82
3,581,539.80 938,231.80 422,809.08 1,656,838.35
4,778,638.93 923,026.74 420,321.31 1,693,474.87
11,836,988.80 911,179.41 418,311.34 1,876,467.72
19,267,887.60 1,002,538.64 397,107.34 2,246,537.77
11,117,623.82 765,682.54 345,731.08 2,435,899.53
5,054,847.56 886,401.09 328,697.69 7,415,658.79
2,890,898.27 783,460.00 301,596.66 4,584,284.00
2,645,664.23 812,769.53 305,455.49 1,345,267.40
2,728,250.16 737,816.93 305,455.49 1,101,413.05
3,023,010.34 804,019.29 322,634.33 1,160,145.90
3,123,102.85 765,915.34 316,559.31 1,214,971.06
3,560,844.01 688,937.05 303,848.99 1,420,886.18
2,813,399.66 681,858.39 302,009.24 1,350,782.34
3,929,967.27 653,195.01 302,009.24 1,447,456.79
9,807,458.83 579,214.55 298,287.40 1,561,426.14
15,017,516.40 632,354.97 247,984.78 1,608,591.51
7,895,046.97 437,169.17 152,543.54 2,004,933.82
3,294,522.68 474,412.98 92,904.86 5,253,277.51
1,295,824.30 440,279.03 37,858.86 3,038,664.27
1,066,737.65 434,815.39 38,344.55 580,804.13
1,138,892.30 391,359.46 38,244.55 352,680.77
1,345,110.03 456,148.44 57,724.68 423,253.83
1,393,442.32 370,412.13 54,904.40 455,635.21
1,822,352.99 367,049.35 48,495.96 611,859.59
1,180,324.71 311,220.39 48,495.96 543,644.62
2,083,788.10 284,679.14 48,495.96 528,306.54
6,807,477.99 148,371.13 41,777.80 595,699.84
11,595,745.02 148,130.36 38,111.23 827,648.07
5,189,752.88 65,316.11 36,804.20 1,079,855.48
1,327,986.82 54,814.58 20,038.82 3,442,012.41
170,354.28 6,166.33 3,349.37 1,721,255.01
66,624.33 6,166.33 3,349.37 145,925.55
123,263.85 6,166.33 0.00 23,894.07
77,474.50 37,471.47 0.00 29,302.94
146,133.26 13,429.95 0.00 33,321.98
150,169.54 10,397.43 0.00 20,739.44
27,411.04 5,469.16 0.00 10,862.76
564,283.87 14,656.36 0.00 44,465.13
1,151,282.72 19,292.98 0.00 46,607.70
2,178,446.35 23,359.07 0.00 195,224.02
378,400.63 1,859.80 0.00 370,311.21
0.00 0.00 0.00 234,130.17
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
------------------------------------------------------------------
Total Time Balance of Scheduled Cash Flows 323,422,105.43 43,936,803.98 16,630,545.54 118,322,624.00
----------------------------------------------
NPV Data Input Section 05-Oct-99 05-Oct-99 05-Oct-99
Scheduled cash flows as of the ----------------------------------------------
Pool 3 Pool 4 Pool 5
812,656.28 844,982.45 203,957.87
2,218,542.75 2,039,628.94 418,153.30
2,290,477.91 2,377,007.11 474,272.76
2,717,039.31 2,446,226.45 595,029.76
2,171,695.46 1,788,249.21 418,010.96
2,437,854.65 1,789,337.97 371,002.28
7,784,902.90 2,393,756.93 498,041.04
5,508,138.13 5,716,216.03 472,680.04
1,756,446.64 3,734,027.34 1,181,255.46
1,892,377.50 1,649,781.58 1,149,059.84
1,913,995.26 1,986,841.15 435,750.17
1,938,976.35 2,274,185.70 445,640.22
2,177,040.10 1,766,889.59 373,635.36
2,183,398.33 2,024,307.79 437,486.95
2,266,854.04 2,344,131.26 438,450.60
2,720,850.39 2,421,143.48 610,534.68
2,098,727.21 1,766,745.94 410,878.76
2,359,764.14 1,762,570.76 360,066.99
7,714,627.44 2,367,032.75 484,612.40
5,370,924.64 5,608,670.52 460,086.27
1,649,663.92 3,653,678.89 1,174,724.13
1,785,071.15 1,571,201.51 1,098,592.04
1,798,318.17 1,924,962.27 417,828.76
1,823,098.23 2,200,627.55 425,783.36
2,064,229.36 1,687,077.84 345,587.14
2,007,063.16 1,949,063.08 413,426.80
2,144,472.57 2,251,689.05 420,584.62
2,605,812.03 2,353,729.85 584,611.33
1,963,790.70 1,689,921.12 363,012.36
2,270,062.88 1,717,276.57 341,426.67
7,512,616.32 2,299,696.38 463,709.04
5,073,580.56 5,741,920.21 441,816.18
1,327,879.88 3,472,199.93 1,121,468.45
1,425,656.34 1,363,446.72 1,032,644.09
1,413,605.76 1,674,348.88 364,446.17
1,448,778.80 1,936,944.40 362,708.40
1,628,987.12 1,450,638.78 290,767.27
1,548,316.89 1,686,658.70 352,874.76
1,685,865.51 1,936,000.80 333,458.95
2,155,365.95 2,066,545.84 474,712.62
1,593,186.23 1,436,534.62 297,973.91
1,708,051.38 1,369,310.98 262,179.55
5,236,685.09 1,910,264.87 390,453.82
3,102,207.69 4,556,185.60 358,174.31
503,727.64 2,689,154.85 817,405.73
553,055.48 670,885.60 686,782.97
573,753.30 886,507.15 191,067.53
651,540.49 1,068,951.69 194,167.52
756,819.55 707,314.28 127,403.18
678,422.31 846,061.49 185,024.34
792,741.91 1,143,717.87 149,165.46
1,081,566.46 1,192,602.95 339,926.23
729,466.08 712,220.45 146,982.24
884,998.18 691,954.45 113,134.87
3,093,136.68 1,051,624.08 169,944.12
1,591,482.28 3,308,287.04 189,335.30
52,272.77 1,406,084.12 567,081.38
43,551.04 94,573.70 376,541.18
28,884.69 127,832.16 27,191.37
109,805.78 264,794.79 37,967.97
84,013.51 73,490.50 1,227.75
14,168.87 104,641.14 29,142.93
24,016.42 270,999.79 6,021.59
118,940.99 106,826.20 71,460.23
58,522.65 49,387.16 651.02
269,431.51 25,280.22 19,583.76
239,442.00 321,737.64 1,227.75
0.00 354,142.20 15,675.09
0.00 0.00 51,763.67
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
----------------------------------------------
Total Time Balance of Scheduled Cash Flows 130,241,415.71 121,170,728.91 26,887,445.62
</TABLE>
Page 1 of 10
<PAGE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
CASE EQUIPMENT LOAN TRUST 1999-A
$75,550,000 Class A-1 4.950% Asset Backed Notes due April 7, 2000
$294,000,000 Class A-2 5.285% Asset Backed Notes due September 15, 2002
$137,000,000 Class A-3 5.600% Asset Backed Notes due July 15, 2003
$221,950,000 Class A-4 5.770% Asset Backed Notes due August 15, 2005
$31,000,000 Class B 5.960% Asset Backed Notes due August 15, 2005
$15,500,000 5.960% Asset Backed Certificates
Prepared by Lisa Sorenson (414)636-6184
<TABLE>
<CAPTION>
<S><C>
Scheduled Payment Date 15-Oct-99
Actual Payment Date 15-Oct-99
Collection Period Begin D 04-Sep-99
Collection Period End Dat 05-Oct-99
Days in accrual period (30/360) 30
Days in accrual period (ACT/360) 30
PART I -- MONTHLY DATA INPUT
Receipts During the Period $28,668,581.57
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 $28,668,581.57
Total Collection $28,668,581.57
Negative Carry Withdrawls $0.00
Yield Supplement Withdrawals $0.00
Reinvestment Income (including Pre-Funding Account, Spread Account (and YSA if any)) $165,255.97
Pre-Funding Account Reinvestment Income $0.00
Total Distribution Amount $28,833,837.54
MISCELLANEOUS DATA
TOTAL COLLATERAL
Scheduled Amounts 30 - 59 days past due $2,296,619.29
Scheduled Amounts 60 days or more past due $880,663.40
Net Losses on Liquidated Receivables $153,572.93
Number of Loans at Beginning of Period 21,456
Number of Loans at End of Period 21,101
Repossessed Equipment not Sold or Reassigned (Beginning) $0.00
Repossessed Equipment not Sold or Reassigned (End) $0.00
</TABLE>
Page 2 of 10
<PAGE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
CASE EQUIPMENT LOAN TRUST 1999-A
$75,550,000 Class A-1 4.950% Asset Backed Notes due April 7, 2000
$294,000,000 Class A-2 5.285% Asset Backed Notes due September 15, 2002
$137,000,000 Class A-3 5.600% Asset Backed Notes due July 15, 2003
$221,950,000 Class A-4 5.770% Asset Backed Notes due August 15, 2005
$31,000,000 Class B 5.960% Asset Backed Notes due August 15, 2005
$15,500,000 5.960% Asset Backed Certificates
<TABLE>
<CAPTION>
<S><C>
Actual Payment Date 15-Oct-99
Collection Period Begin Date 04-Sep-99
Collection Period End Date 05-Oct-99
PART II -- SUMMARY
Total Principal Balance of Notes and Certificates (Beginning of Period) $689,986,891.96
A-1 Note Beginning Principal Balance $0.00
A-2 Note Beginning Principal Balance $287,937,385.04
A-3 Note Beginning Principal Balance $137,000,000.00
A-4 Note Beginning Principal Balance $221,950,000.00
B Note Beginning Principal Balance $27,599,506.92
Certificate Beginning Principal Balance $15,500,000.00
Total Principal Balance of Notes and Certificates (End of Period) $666,218,946.83
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) $265,120,157.72
A-2 Note Pool Factor (End of Period) 0.9017692
A-3 Note Principal Balance (End of Period) $137,000,000.00
A-3 Note Pool Factor (End of Period) 1.0000000
A-4 Note Principal Balance (End of Period) $221,950,000.00
A-4 Note Pool Factor (End of Period) 1.0000000
B Note Principal Balance (End of Period) $26,648,789.11
B Note Pool Factor (End of Period) 0.8596384
Certificate Principal Balance (End of Period) $15,500,000.00
Certificate Pool Factor (End of Period) 1.0000000
CONTRACT VALUE DECLINE $23,767,945.13
Pool Balance (Beg. of Collection Period) $689,987,672.94
Pool Balance (End of Collection Period) $666,219,727.81
Total Distribution Amount (TDA) $28,833,837.54
Total Collections and Investment Income for the Period $28,833,837.54
Negative Carry Amount $0.00
Principal Distribution Amount (PDA) $23,767,945.13
Principal Allocation to Notes and Certificates $23,767,945.13
A-1 Noteholders' Principal Distributable Amount $0.00
A-2 Noteholders' Principal Distributable Amount $22,817,227.32
A-3 Noteholders' Principal Distributable Amount $0.00
A-4 Noteholders' Principal Distributable Amount $0.00
B Noteholders' Principal Distributable Amount $950,717.81
Certificateholders' Principal Distributable Amount $0.00
Interest Distributable Amount $2,121,518.44
Noteholders' Interest Distributable Amount applicable to A-1 Notes $0.00
Noteholders' Interest Distributable Amount applicable to A-2 Notes $1,268,124.23
Noteholders' Interest Distributable Amount applicable to A-3 Notes $639,333.33
Noteholders' Interest Distributable Amount applicable to A-4 Notes $1,067,209.58
Noteholders' Interest Distributable Amount applicable to B Notes $137,077.55
Certificateholders' Interest Distributable Amount $76,983.33
Spread Account
Beginning Spread Account Balance $15,500,015.62
Deposit to Spread Account from Pre-Funding Account $0.00
Deposit to Spread Account from Excess Collections over Distributions $1,953,981.05
Distribution from Spread Account for Interest / Principal Shortfall $0.00
Specified Spread Account Balance $15,500,015.62
Ending Spread Account Balance (after distributions) $15,500,015.62
Credit Enhancement 2.33%
Spread account % of Ending Pool Balance 2.33%
Overcollateralization % of Ending Pool Balance 0.00%
Scheduled Amounts 30 - 59 days past due $2,296,619.29
as % of Ending Pool Balance 0.34%
Scheduled Amounts 60 days or more past due $880,663.40
as % of Ending Pool Balance 0.13%
Net Losses on Liquidated Receivables $153,572.93
as % of Ending Pool Balance 0.02%
PART III -- SERVICING CALCULATIONS 15-Oct-99
Page 3 of 10
<PAGE>
1. SOURCES AND USES OF COLLECTION ACCOUNT BALANCE Pool 1A (Retail) Pool 1B (FPL)Pool 1C (Forestry)
Wtd. Avg. APR 8.519% 8.519% 8.519%
Contract Value (Beg. of Collection Period), by origination pool $287,642,607.75 $39,642,304.89 $17,221,114.43
Contract Value (End of Collection Period), by origination pool $275,718,399.91 $38,292,918.76 $14,582,376.20
--------------- -------------- -------------
Contract Value Decline $11,924,207.84 $1,349,386.13 $2,638,738.23
4.15% 3.40% 15.32%
Initial Pool Balance $689,987,672.94
Pool Balance (End of Collection Period) $666,219,727.81
Collections and Investment Income for the period $28,833,837.54
Negative Carry Amount $0.00
Total Distribution Amount (TDA) $28,833,837.54
Principal Distribution Amount (PDA) $23,767,945.13
Initial B Percentage 4.000%
Unscheduled Principal (per pool) $6,397,794.49 $0.00 $1,628,644.02
Total Unscheduled Principal $9,146,233.04
1. SOURCES AND USES OF COLLECTION ACCOUNT BALANCE Pool 2 Pool 3 Pool 4 Pool 5
Wtd. Avg. APR 8.163% 7.995% 8.337% 8.088%
Contract Value (Beg. of Collection Period), by origination pool $104,051,795.10 $114,189,014.92 $104,121,728.18 $23,119,107.67
Contract Value (End of Collection Period), by origination pool $101,323,335.22 $111,593,433.35 $101,943,571.76 $22,765,692.61
--------------- --------------- --------------- --------------
Contract Value Decline $2,728,459.88 $2,595,581.57 $2,178,156.42 $353,415.06
2.62% 2.27% 2.09% 1.53%
Initial Pool Balance
Pool Balance (End of Collection Period)
Collections and Investment Income for the period
Negative Carry Amount
Total Distribution Amount (TDA)
Principal Distribution Amount (PDA)
Initial B Percentage
Unscheduled Principal (per pool) $560,369.83 $294,339.37 $265,085.33 $0.00
Total Unscheduled Principal
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 $23,767,945.13
A-2 Note Beginning Principal Balance $287,937,385.04
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 $22,817,227.32
Principal Distribution Amount Remaining $950,717.81
A-3 Note Beginning Principal Balance $137,000,000.00
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 $0.00
Principal Distribution Amount Remaining $950,717.81
A-4 Note Beginning Principal Balance $221,950,000.00
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 $950,717.81
B Note Beginning Principal Balance $27,599,506.92
B Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
B Noteholders' Share of the Principal Distribution Amounts 4.00%
B Noteholders' Principal Distributable Amount $950,717.81
Principal Distribution Amount Remaining $0.00
Certificate Beginning Principal Balance $15,500,000.00
Certificateholders' Principal Carryover Shortfall (Previous Period) $0.00
Certificateholders' Share of the Principal Distribution Amounts 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 $1,268,124.23
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 $1,268,124.23
Interest Accrued on Class A-3 Notes this period $639,333.33
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 $639,333.33
Interest Accrued on Class A-4 Notes this period $1,067,209.58
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 $1,067,209.58
Interest Accrued on Class A-1, A-2, A-3 and A-4 Notes this period $2,974,667.14
Offered Noteholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Offered Noteholders' Interest Distributable Amount $2,974,667.14
Interest Accrued on Class B Notes this period $137,077.55
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 $137,077.55
Interest Accrued on Certificates this period $76,983.33
Certificateholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on Above Shortfall $0.00
Certificateholders' Interest Distributable Amount $76,983.33
3. ALLOCATION OF DISTRIBUTION AMOUNTS
a. TOTAL DISTRIBUTION AMOUNT (TDA) $28,833,837.54
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 $28,833,670.87
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 $1,268,124.23
Noteholders' Interest applicable to A-2 Notes Paid this Period from TDA $1,268,124.23
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 $639,333.33
Noteholders' Interest applicable to A-3 Notes Paid this Period from TDA $639,333.33
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 $1,067,209.58
Noteholders' Interest applicable to A-4 Notes Paid this Period from TDA $1,067,209.58
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 $2,974,667.14
Offered Noteholders' Interest Paid this Period from TDA $2,974,667.14
Preliminary A Noteholders' Interest Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $25,859,003.73
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 $137,077.55
Noteholders' Interest applicable to B Notes Paid this Period from TDA $137,077.55
Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to B Notes $0.00
Page 4 of 10
<PAGE>
Total Distribution Amount Remaining $25,721,926.18
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 $25,721,926.18
A-2 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-2 Noteholders' Monthly Principal Distributable Amount $22,817,227.32
A-2 Noteholders' Principal Distributable Amount Paid from TDA $22,817,227.32
Preliminary A-2 Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $2,904,698.86
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 $2,904,698.86
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 $2,904,698.86
B Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
B Noteholders' Monthly Principal Distributable Amount $950,717.81
B Noteholders' Principal Distributable Amount Paid from TDA $950,717.81
Preliminary B Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Excess Distribution Amount Remaining $1,953,981.05
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 (will be necessary only if required by rating agencies) $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 $0.00
Negative Carry 3.0361990%
Number of Days Remaining 30.00
Pre-Funded Percentage 0.000%
Negative Carry Withdrawls $0.00
Cumulative Negative Carry Withdrawls $0.00
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. RECONCILATION OF YIELD SUPPLEMENT ACCOUNT - ONLY NECESSARY IF REQUIRED BY RATING AGENCIES
Beginning Yield Supplement Account Balance $0.00
Deposit to Yield Supplement Account from Pre-Funding Account $0.00
Receivables Percentage 0.00%
Withdrawal of Yield Supplement Amount $0.00
Maximum Yield Supplement Amount $0.00
Required Yield Supplement Amount $0.00
Interim Yield Supplement Account Balance $0.00
Yield Supplement Amount Released to Seller $0.00
Ending Yield Supplement Account Balance $0.00
7. DISTRIBUTIONS FROM SPREAD ACCOUNT
Beginning Spread Account Balance $15,500,015.62
Deposit to Spread Account from Pre-Funding Account $0.00
Deposit to Spread Account from Excess Collections over Distributions $1,953,981.05
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 Distribution from Spread Account to Noteholders' Distr. Account $0.00
Adj to Preliminary Noteholders' Interest Carryover Shortfall (Current Period) applicable to B Notes $0.00
Remaining Distribution from Spread Account 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 Distribution from Spread Account to Noteholders' Distr. Account $0.00
Adj to Preliminary B Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Preliminary Spread Account Balance Remaining $17,453,996.67
Cumulative Realized Losses since 28-February-99 (Cut-off Date) $261,676.78
Are Cum. Realized Losses > 2.25% of Initial Pool Balance? NO
12*(Realized Losses during Collection Period + Repos at end of Collection Period) $1,842,875.16
Is 12*Realized Losses + Unliq. Repos > 1.65% of Beg. Pool Balance? NO
60 day or > Delinquent Scheduled Amounts $880,663.40
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) $265,120,157.72
Preliminary A-3 Note Principal Balance (End of Period) $137,000,000.00
Preliminary A-4 Note Principal Balance (End of Period) $221,950,000.00
Preliminary B Note Principal Balance (End of Period) $26,648,789.11
Preliminary Total Principal Balance of Notes (End of Period) $650,718,946.83
Specified Spread Account Balance 15,500,015.62
Lesser of:
(a) 2.00% of the Initial Pool Balance 15,500,015.62
(b) the Note Balance 650,718,946.83
Preliminary Spread Account Balance Remaining $17,453,996.67
Preliminary Excess Amount in Spread Account $1,953,981.05
Preliminary Shortfall Amount in Spread Account $0.00
Deposit to Spread Account from Remaing Excess Distribution $0.00
Spread Account Excess $1,953,981.05
Ending Spread Account Balance (after distributions) $15,500,015.62
Net Change in Spread Account Balance $0.00
Page 5 of 10
<PAGE>
8. CERTIFICATE DISTRIBUTIONS AND SERVICING FEES
Total Excess Distribution Amount Remaining $1,953,981.05
Certificateholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on Above Shortfall $0.00
Interest Accrued on Certificates this period $76,983.33
Certificateholders' Interest Paid from Excess Distribution $76,983.33
Preliminary Certificateholders' Interest Carryover Shortfall (Current Period) $0.00
Total Excess Distribution Amount Remaining $1,876,997.72
Certificateholders' Principal Carryover Shortfall (Previous Period) $0.00
Certificateholders' Principal Distributable Amount applicable to current period $0.00
Certificateholders' Principal Distributable Amount Paid from Excess Distrbution $0.00
Preliminary Certificateholders' Principal Carryover Shortfall (Current Period) $0.00
Total Excess Distribution Amount Remaining $1,876,997.72
Servicing Fee Shortfall (Previous Period) 0.00
Servicing Fees Accrued during this Period $574,989.73
Servicing Fees Paid this Period Excess Distribution $574,989.73
Adjustment to Servicing Fee $0.00
Adjustment to Excess Distribution Amount Remaining $0.00
Servicing Fee Shortfall $0.00
Total Excess Distribution Amount Remaining $1,302,008.00
9. 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) $265,120,157.72
A-3 Note Principal Balance (End of Period) $137,000,000.00
A-4 Note Principal Balance (End of Period) $221,950,000.00
B Note Principal Balance (End of Period) $26,648,789.11
Certificate Principal Balance (End of Period) $15,500,000.00
Total Principal Balance of Notes and Certificates (End of Period) $666,218,946.83
A-1 Note Pool Factor (End of Period) 0.0000000
A-2 Note Pool Factor (End of Period) 0.9017692
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) 0.8596384
Certificate Pool Factor (End of Period) 1.0000000
Total Notes & Certificates Pool Factor (End of Period) 0.8596374
Specified Spread Account Balance (after all distributions and adjustments) $15,500,015.62
Yield Supplement Account Balance (after alldistributions and adjustment): $0.00
</TABLE>
Page 6 of 10
<PAGE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
CASE EQUIPMENT LOAN TRUST 1999-A
STATEMENT TO NOTEHOLDERS
$75,550,000 Class A-1 4.950% Asset Backed Notes due April 7, 2000
$294,000,000 Class A-2 5.285% Asset Backed Notes due September 15, 2002
$137,000,000 Class A-3 5.600% Asset Backed Notes due July 15, 2003
$221,950,000 Class A-4 5.770% Asset Backed Notes due August 15, 2005
$31,000,000 Class B 5.960% Asset Backed Notes due August 15, 2005
$15,500,000 5.960% Asset Backed Certificates
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(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: $22,817,227.32
per $1,000 original principal amount: $77.61
(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: $950,717.81
per $1,000 original principal amount: $30.67
(f) Total $23,767,945.13
(2) Interest on the Notes
(a) A-1 Notes: $0.00
per $1,000 original principal amount: $0.00
(b) A-2 Notes: $1,268,124.23
per $1,000 original principal amount: $4.31
(c) A-3 Notes: $639,333.33
per $1,000 original principal amount: $4.67
(d) A-4 Notes: $1,067,209.58
per $1,000 original principal amount: $4.81
(e) B Notes: $137,077.55
per $1,000 original principal amount: $4.42
(f) Total $3,111,744.69
(3) Pool Balance at the end of the related Collection Period $666,219,727.81
(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: $265,120,157.72
(ii) A-2 Note Pool Factor: 0.9017692
(c) (i) outstanding principal amount of A-3 Notes: $137,000,000.00
(ii) A-3 Note Pool 1.0000000
(d) (i) outstanding principal amount of A-4 Notes: $221,950,000.00
(ii) A-4 Note Pool Factor: 1.0000000
(e) (i) outstanding principal amount of B Notes: $26,648,789.11
(ii) B Note Pool Factor: 0.8596384
(f) (i) Certificate Balance $15,500,000.00
(ii) Certificate Pool Factor: 1.0000000
(5) Amount of Servicing Fee: $574,989.73
per $1,000 Beginning of Collection Period: 0.83333333
(6) Amount of Administration Fee: $166.67
per $1,000 Beginning of Collection Period: 0.00024155
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $153,572.93
(9) Amount in Spread Account: $15,500,015.62
(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: $0.00
</TABLE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Page 7 of 10
<PAGE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
CASE EQUIPMENT LOAN TRUST 1999-A
STATEMENT TO CERTIFICATEHOLDERS
$75,550,000 Class A-1 4.950% Asset Backed Notes due April 7, 2000
$294,000,000 Class A-2 5.285% Asset Backed Notes due September 15, 2002
$137,000,000 Class A-3 5.600% Asset Backed Notes due July 15, 2003
$221,950,000 Class A-4 5.770% Asset Backed Notes due August 15, 2005
$31,000,000 Class B 5.960% Asset Backed Notes due August 15, 2005
$15,500,000 5.960% Asset Backed Certificates
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(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: $22,817,227.32
per $1,000 original principal amount: $77.61
(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: $950,717.81
per $1,000 original principal amount: $30.67
(f) Certificates: $0.00
per $1,000 original principal amount: $0.00
(g) Total: $23,767,945.13
(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: $1,268,124.23
per $1,000 original principal amount: $4.31
(c) A-3 Notes: $639,333.33
per $1,000 original principal amount: $4.67
(d) A-4 Notes: $1,067,209.58
per $1,000 original principal amount: $4.81
(e) B Notes: $137,077.55
per $1,000 original principal amount: $4.42
(f) Certificates: $76,983.33
per $1,000 original principal amount: $4.97
(g) Total: $3,188,728.02
(3) Pool Balance at end of related Collection Period: $666,219,727.81
(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: $265,120,157.72
(ii) A-2 Note Pool Factor: 0.9017692
(c) (i) outstanding principal amount of A-3 Notes: $137,000,000.00
(ii) A-3 Note Pool Factor: 1.0000000
(d) (i) outstanding principal amount of A-4 Notes: $221,950,000.00
(ii) A-4 Note Pool Factor: 1.0000000
(e) (i) outstanding principal amount of B Notes: $26,648,789.11
(ii) B Note Pool Factor: 0.8596384
(f) (i) Certificate Balance $15,500,000.00
(ii) Certificate Pool Factor: 1.0000000
(5) Amount of Servicing Fee: $574,989.73
per $1,000 Beginning of Collection Period: 0.8333333
(6) Amount of Administration Fee: $166.67
per $1,000 Beginning of Collection Period: 0.0002416
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $153,572.93
(9) Amount in Spread Account: $15,500,015.62
(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: $0.00
</TABLE>
Page 8 of 10
<PAGE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
CASE EQUIPMENT LOAN TRUST 1999-A
PAYMENT AND DEPOSIT INSTRUCTIONS TO INDENTURE TRUSTEE
$75,550,000 Class A-1 4.950% Asset Backed Notes due April 7, 2000
$294,000,000 Class A-2 5.285% Asset Backed Notes due September 15, 2002
$137,000,000 Class A-3 5.600% Asset Backed Notes due July 15, 2003
$221,950,000 Class A-4 5.770% Asset Backed Notes due August 15, 2005
$31,000,000 Class B 5.960% Asset Backed Notes due August 15, 2005
$15,500,000 5.960% Asset Backed Certificates
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(1) Payment of Administration Fee to Administrator: $166.67
(2) Offered Noteholders' Interest Distributable Amount
deposited into Note Distribution Account: $3,111,744.69
(3) Noteholders' Principal Distributable Amount to be
deposited into Noteholders' Distribution Account: $23,767,945.13
(4) Certificateholders' Interest Distributable Amount to be
deposited into Certificateholders' Distribution Account: $76,983.33
(5) Certificateholders' Principal Distributable Amount to be
deposited into Certificateholders' Distribution Account: $0.00
(6) Payment of Servicing Fee to Servicer: $574,989.73
(7) Release to Seller from Excess Collections over Distributions $1,302,008.00
Check for Error NO ERROR
Sum of Above Distributions $28,833,837.54
Total Distribution Amount plus Releases to Seller $28,833,837.54
</TABLE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Page 9 of 10
<PAGE>
CASE EQUIPMENT LOAN TRUST 1999-A
SERVICER'S CERTIFICATE
$75,550,000 Class A-1 4.950% Asset Backed Notes due April 7, 2000
$294,000,000 Class A-2 5.285% Asset Backed Notes due September 15, 2002
$137,000,000 Class A-3 5.600% Asset Backed Notes due July 15, 2003
$221,950,000 Class A-4 5.770% Asset Backed Notes due August 15, 2005
$31,000,000 Class B 5.960% Asset Backed Notes due August 15, 2005
$15,500,000 5.960% Asset Backed Certificates
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(1) Total Distribution Amount: $28,833,837.54
(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: $1,268,124.23
(6) Noteholders' Interest Carryover Shortfall applicable to A-2 Notes: $0.00
(7) Noteholders' Interest Distributable Amount applicable to A-3 Notes: $639,333.33
(8) Noteholders' Interest Carryover Shortfall applicable to A-3 Notes: $0.00
(9) Noteholders' Interest Distributable Amount applicable to A-4 Notes: $1,067,209.58
(10) Noteholders' Interest Carryover Shortfall applicable to A-4 Notes: $0.00
(11) Noteholders' Interest Distributable Amount applicable to B Notes: $137,077.55
(12) Noteholders' Interest Carryover Shortfall applicable to B Notes: $0.00
(13) Offered Noteholders' Interest Distributable Amount' $3,111,744.69
deposited into Note Distribution Account:
(14) A-1 Noteholders' Monthly Principal Distributable Amount: $0.00
(15) % of 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: $22,817,227.32
(19) % of 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: $22,817,227.32
(22) A-3 Noteholders' Monthly Principal Distributable Amount: $0.00
(23) % of 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 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: $950,717.81
(31) % of Principal Distribution Amount applicable to B Noteholders 4.00%
(32) B Noteholders' Principal Carryover Shortfall: $0.00
(33) B Noteholders' Principal Distributable Amount: $950,717.81
(34) Noteholders' Principal Distribution Amount: $23,767,945.13
(35) Noteholders' Distributable Amount: $26,879,689.82
(36) Deposit to Spread Account (from excess collections): $1,953,981.05
(37) Specified Spread Account Balance (after all distributions and adjustments) : $15,500,015.62
The Lesser of:
(a) 2.00% of the Initial Pool Balance $15,500,015.62
(b) the Note Balance $650,718,946.83
(38) Spread Account Balance over the Specified Spread Account Balance: $1,953,981.05
(39) Certificateholders' Interest Distributable Amount: $76,983.33
(40) Certificateholders' Interest Carryover Shortfall: $0.00
(41) % of Principal Distribution Amount applicable to Certificat holders 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: $76,983.33
(46) Servicing Fee: $574,989.73
(47) Excess Amounts Distributed To Seller:
(a) Release of Remaining Excess Distributions $1,302,008.00
(b) Release of Excess Amount in Negative Carry Account $0.00
(c) 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: $689,987,672.94
(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: $265,120,157.72
A-2 Note Pool Factor: 0.9017692
Outstanding Principal Balance of A-3 Notes: $137,000,000.00
A-3 Note Pool Factor: 1.0000000
Outstanding Principal Balance of A-4 Notes: $221,950,000.00
A-4 Note Pool Factor: 1.0000000
Outstanding Principal Balance of B Notes: $26,648,789.11
B Note Pool Factor: 0.8596384
Outstanding Principal Balance of the Certificates: $15,500,000.00
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: $153,572.93
(53) Spread Account Balance after giving effect to all distributions: $15,500,015.62
</TABLE>
Page 10 of 10
<PAGE>
CASE EQUIPMENT LOAN TRUST 1999-B
$68,629,000 Class A-1 5.674% Asset Backed Notes due September 15, 2000
$300,000,000 Class A-2 6.330% Asset Backed Notes due October 15, 2003
$100,000,000 Class A-3 6.660% Asset Backed Notes due June 15, 2004
$182,371,000 Class A-4 6.900% Asset Backed Notes due June 15, 2006
$31,500,000 Class B 7.050% Asset Backed Notes due June 15, 2006
$17,500,000 7.050% Asset Backed Certificates
Prepared by Sally Nelson (414)636-5637
<TABLE>
<CAPTION>
<S><C>
------------------------------------------------------------------------------
NPV Data Input Section 05-Oct-99 05-Oct-99 05-Oct-99 05-Oct-99
------------------------------------------------------------------------------
Scheduled cash flows as of the Pool 1A (Retail) Pool 1B (FPL) Pool 1C (Forestry) Pool 1D (Trucks)
1,192,314.14 326,937.01 312,052.75 799,244.01
3,787,708.75 884,589.14 543,810.97 1,355,022.02
4,634,419.93 1,220,474.32 543,830.81 1,368,319.33
5,009,078.15 839,720.12 540,320.20 1,371,790.63
3,975,734.33 756,246.15 528,477.46 1,335,365.47
3,970,809.26 860,928.45 534,003.08 1,263,675.43
3,919,829.15 990,719.76 519,654.26 1,320,482.38
4,809,209.36 1,014,586.53 531,958.84 1,355,068.64
8,299,602.66 1,037,975.60 531,958.84 1,369,447.92
10,535,543.84 792,963.06 537,931.21 1,347,493.30
6,298,821.21 752,853.60 538,103.93 1,351,243.69
4,119,354.48 747,930.57 538,103.93 1,346,848.40
3,620,753.73 730,015.58 537,522.47 1,333,584.19
3,839,773.60 826,955.74 535,655.30 1,321,354.18
4,740,794.33 796,310.34 534,873.72 1,343,554.33
5,096,716.25 818,166.17 532,427.94 1,351,440.79
3,928,846.56 740,179.02 521,476.15 1,297,399.84
3,912,290.48 786,213.10 528,696.94 1,234,464.78
3,832,586.69 897,703.32 512,692.19 1,277,107.92
4,693,026.36 1,312,323.40 521,594.17 1,298,478.56
8,102,925.01 987,116.91 518,003.38 1,321,416.90
10,313,023.91 771,690.89 523,612.11 1,287,082.71
6,026,587.99 706,882.87 522,919.41 1,278,830.96
3,881,945.05 700,149.83 522,919.41 1,257,174.68
3,442,873.44 679,369.74 522,919.41 1,251,122.30
3,647,385.67 778,451.38 522,919.41 1,233,677.00
4,531,887.12 748,805.32 517,098.48 1,244,418.50
4,930,763.41 830,586.57 510,741.93 1,242,214.71
3,758,506.36 731,333.24 501,519.70 1,177,396.15
3,770,887.45 705,452.33 505,909.85 1,104,533.48
3,619,573.18 1,146,767.93 479,811.58 1,136,649.35
4,450,159.36 959,993.30 451,775.47 1,143,046.52
7,635,238.50 850,506.84 428,154.61 1,139,730.80
9,630,887.18 672,006.85 399,589.17 1,145,964.94
5,207,959.80 670,653.99 377,137.18 1,034,473.78
2,997,833.15 613,301.96 371,791.85 1,004,348.66
2,615,176.00 586,829.50 371,791.85 980,817.91
2,757,172.74 670,130.36 358,762.60 967,223.60
3,515,986.24 661,708.73 351,532.06 916,788.61
3,755,303.87 690,789.34 341,335.41 879,706.03
2,833,208.26 587,653.01 332,161.88 831,529.48
2,911,241.13 515,133.62 333,092.55 761,487.91
2,558,691.81 605,847.16 307,072.62 757,066.38
2,785,102.87 712,324.91 236,164.61 724,824.03
5,335,067.12 661,984.09 176,586.18 671,076.19
6,520,826.04 439,721.89 143,267.31 602,313.64
3,361,905.61 380,534.60 86,997.85 565,942.50
1,569,584.06 354,838.32 86,997.85 503,605.47
1,263,951.15 305,072.97 86,997.85 493,874.58
1,307,124.95 384,294.64 83,049.50 488,952.53
1,976,991.89 384,092.90 80,499.68 486,692.72
2,106,891.93 417,459.23 80,499.68 443,782.71
1,410,147.67 264,675.33 78,718.65 427,203.82
1,499,997.73 375,904.36 114,744.15 390,656.88
1,168,078.55 327,930.15 60,226.34 391,345.14
1,330,568.72 391,173.16 52,009.78 386,638.34
3,288,075.94 349,650.89 35,496.15 307,894.30
4,146,364.50 122,580.51 22,502.91 184,981.41
1,571,847.48 87,018.13 2,585.27 127,335.18
314,515.24 34,736.52 0.00 25,015.28
75,532.88 1,449.40 0.00 10,581.77
132,943.66 1,449.40 0.00 10,581.77
256,603.49 1,449.40 0.00 10,581.77
58,917.25 0.00 0.00 10,581.77
13,059.81 0.00 0.00 8,343.73
40,978.93 0.00 0.00 8,343.73
83,229.11 15,694.17 0.00 8,343.73
52,328.99 0.00 0.00 8,343.73
31,515.26 0.00 0.00 199,643.75
55,550.47 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
------------------------------------------------------------------------------
Total Time Balance of Scheduled Cash Flows 242,870,131.19 40,018,987.62 21,925,060.84 58,635,567.64
------------------------------------------------------
NPV Data Input Section 05-Oct-99 05-Oct-99 05-Oct-99
------------------------------------------------------
Scheduled cash flows as of the Pool 2A Pool 2B Pool 3
454,730.95 908,237.22 95,839.52
1,505,304.06 1,022,550.96 1,707,117.64
1,687,135.57 868,525.05 1,634,611.17
1,780,942.43 736,958.45 1,769,944.09
1,832,625.49 355,778.07 1,613,186.95
1,491,648.94 381,701.08 1,709,469.35
1,627,674.51 396,931.79 1,441,675.06
1,444,191.67 273,162.89 1,299,264.84
1,565,946.87 199,630.05 1,251,771.34
1,997,978.00 543,640.52 1,285,473.37
5,308,407.05 506,173.47 1,678,813.61
5,333,971.33 1,802,144.18 10,066,617.28
1,482,369.62 876,363.61 4,348,630.98
1,931,913.15 572,960.89 2,109,341.91
1,867,432.30 343,028.05 2,099,226.88
2,028,388.35 61,742.54 2,129,834.23
1,824,178.05 75,624.78 1,752,202.63
1,475,625.19 23,685.06 1,726,621.14
1,546,089.41 14,940.93 1,437,542.16
1,404,103.75 0.00 1,314,043.94
1,507,432.64 0.00 1,238,967.43
1,914,669.80 0.00 1,262,684.69
5,127,369.87 0.00 1,631,891.51
5,102,102.10 17,258.76 9,740,178.60
1,407,738.18 26,362.87 4,275,375.05
1,940,901.72 0.00 2,039,949.43
1,770,990.28 0.00 2,033,425.17
1,941,948.02 0.00 2,053,767.59
1,751,895.19 0.00 1,650,153.23
1,386,698.08 0.00 1,624,877.93
1,406,504.66 0.00 1,338,393.87
1,330,439.45 0.00 1,230,284.22
1,437,554.28 0.00 1,155,244.35
1,790,846.43 0.00 1,174,630.41
4,973,744.17 0.00 1,547,570.24
4,873,275.73 0.00 9,440,542.40
1,208,310.06 0.00 4,057,340.07
1,618,342.56 0.00 1,830,259.35
1,525,397.64 0.00 1,799,189.89
1,696,353.97 0.00 1,832,085.23
1,483,539.35 0.00 1,446,019.93
1,154,474.85 0.00 1,265,798.03
1,164,259.04 0.00 1,105,556.14
1,099,498.07 0.00 1,003,090.37
1,194,081.96 0.00 950,348.43
1,513,318.54 0.00 971,064.49
3,894,951.51 0.00 1,311,226.01
3,791,725.79 0.00 7,849,023.12
638,355.94 0.00 2,969,983.42
1,039,341.76 0.00 1,283,811.71
951,281.75 0.00 1,249,138.03
1,126,187.33 0.00 1,264,847.32
914,523.12 0.00 898,302.42
539,886.69 0.00 675,414.51
684,029.22 0.00 561,508.52
530,489.84 0.00 483,444.61
661,461.92 0.00 433,159.45
911,069.40 0.00 467,352.17
2,922,040.45 0.00 740,434.57
2,792,026.43 0.00 6,533,150.32
166,497.31 0.00 2,043,163.70
524,670.80 0.00 724,831.38
194,969.01 0.00 378,718.73
300,029.47 0.00 466,062.25
49,802.39 0.00 158,838.64
17,956.65 0.00 49,120.12
19,977.24 0.00 3,249.54
52,887.72 0.00 42,050.82
153,821.33 0.00 5,348.62
316,968.67 0.00 50,483.65
225,348.27 0.00 128,018.24
0.00 0.00 216,268.82
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
------------------------------------------------------
Total Time Balance of Scheduled Cash Flows 116,332,643.34 10,007,401.22 133,156,866.82
</TABLE>
Page 1 of 10
<PAGE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
CASE EQUIPMENT LOAN TRUST 1999-B
$68,629,000 Class A-1 5.674% Asset Backed Notes due September 15, 2000
$300,000,000 Class A-2 6.330% Asset Backed Notes due October 15, 2003
$100,000,000 Class A-3 6.660% Asset Backed Notes due June 15, 2004
$182,371,000 Class A-4 6.900% Asset Backed Notes due June 15, 2006
$31,500,000 Class B 7.050% Asset Backed Notes due June 15, 2006
$17,500,000 7.050% Asset Backed Certificates
13-Sep-99
Prepared by Sally Nelson (414)636-5637
<TABLE>
<CAPTION>
<S><C>
Scheduled Payment Date 15-Oct-99
Actual Payment Date 15-Oct-99
Collection Period Begin Date 01-Aug-99
Collection Period End Date 05-Oct-99
Days in accrual period (30/360) 32
Days in accrual period (ACT/360) 32
PART I -- MONTHLY DATA INPUT
Receipts During the Period $28,248,835.07
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 $28,248,835.07
Total Collection $28,248,835.07
Negative Carry Withdrawls $2,123,150.59
Yield Supplement Withdrawals $0.00
Reinvestment Income (including Pre-Funding Account, Spread Account
(and YSA if any)) $1,378,460.87
Pre-Funding Account Reinvestment Income $0.00
Total Distribution Amount $31,750,446.53
MISCELLANEOUS DATA
TOTAL COLLATERAL
Scheduled Amounts 30 - 59 days past due $1,122,299.52
Scheduled Amounts 60 days or more past due $111,152.44
Net Losses on Liquidated Receivables $9,183.86
Number of Loans at Beginning of Period 0
Number of Loans at End of Period 17,416
Repossessed Equipment not Sold or Reassigned (Beginning) $0.00
Repossessed Equipment not Sold or Reassigned (End) $0.00
</TABLE>
Page 2 of 10
<PAGE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
CASE EQUIPMENT LOAN TRUST 1999-B
$68,629,000 Class A-1 5.674% Asset Backed Notes due September 15, 2000
$300,000,000 Class A-2 6.330% Asset Backed Notes due October 15, 2003
$100,000,000 Class A-3 6.660% Asset Backed Notes due June 15, 2004
$182,371,000 Class A-4 6.900% Asset Backed Notes due June 15, 2006
$31,500,000 Class B 7.050% Asset Backed Notes due June 15, 2006
$17,500,000 7.050% Asset Backed Certificates
<TABLE>
<CAPTION>
<S><C>
Actual Payment Date 15-Oct-99
Collection Period Begin Date 01-Aug-99
Collection Period End Date 05-Oct-99
PART II -- SUMMARY
Total Principal Balance of Notes and Certificates (Beginning of Period) $700,000,000.00
A-1 Note Beginning Principal Balance $68,629,000.00
A-2 Note Beginning Principal Balance $300,000,000.00
A-3 Note Beginning Principal Balance $100,000,000.00
A-4 Note Beginning Principal Balance $182,371,000.00
B Note Beginning Principal Balance $31,500,000.00
Certificate Beginning Principal Balance $17,500,000.00
Total Principal Balance of Notes and Certificates (End of Period) $678,981,052.80
A-1 Note Principal Balance (End of Period) $48,611,185.22
A-1 Note Pool Factor (End of Period) 0.7083184
A-2 Note Principal Balance (End of Period) $300,000,000.00
A-2 Note Pool Factor (End of Period) 1.0000000
A-3 Note Principal Balance (End of Period) $100,000,000.00
A-3 Note Pool Factor (End of Period) 1.0000000
A-4 Note Principal Balance (End of Period) $182,371,000.00
A-4 Note Pool Factor (End of Period) 1.0000000
B Note Principal Balance (End of Period) $30,498,867.58
B Note Pool Factor (End of Period) 0.9682180
Certificate Principal Balance (End of Period) $17,500,000.00
Certificate Pool Factor (End of Period) 1.0000000
CONTRACT VALUE DECLINE $21,018,947.20
Pool Balance (Beg. of Collection Period) $322,989,181.27
Pool Balance (End of Collection Period) $520,453,505.93
Total Distribution Amount (TDA) $31,750,446.53
Total Collections and Investment Income for the Period $29,627,295.94
Negative Carry Amount $2,123,150.59
Principal Distribution Amount (PDA) $21,018,947.20
Principal Allocation to Notes and Certificates $21,018,947.20
A-1 Noteholders' Principal Distributable Amount $20,017,814.78
A-2 Noteholders' Principal Distributable Amount $0.00
A-3 Noteholders' Principal Distributable Amount $0.00
A-4 Noteholders' Principal Distributable Amount $0.00
B Noteholders' Principal Distributable Amount $1,001,132.42
Certificateholders' Principal Distributable Amount $0.00
Interest Distributable Amount $3,992,677.94
Noteholders' Interest Distributable Amount applicable to A-1 Notes $346,134.17
Noteholders' Interest Distributable Amount applicable to A-2 Notes $1,688,000.00
Noteholders' Interest Distributable Amount applicable to A-3 Notes $592,000.00
Noteholders' Interest Distributable Amount applicable to A-4 Notes $1,118,542.13
Noteholders' Interest Distributable Amount applicable to B Notes $197,400.00
Certificateholders' Interest Distributable Amount $50,601.64
Spread Account
Beginning Spread Account Balance $8,074,729.53
Deposit to Spread Account from Pre-Funding Account $5,492,792.80
Deposit to Spread Account from Excess Collections over Distributions $6,789,256.36
Distribution from Spread Account for Interest / Principal Shortfall $0.00
Specified Spread Account Balance $10,818,932.64
Ending Spread Account Balance (after distributions) $10,818,932.64
Credit Enhancement 1.90%
Spread account % of Ending Pool Balance 2.08%
Overcollateralization % of Ending Pool Balance (0.18)%
Scheduled Amounts 30 - 59 days past due $1,122,299.52
as % of Ending Pool Balance 0.22%
Scheduled Amounts 60 days or more past due $111,152.44
as % of Ending Pool Balance 0.02%
Net Losses on Liquidated Receivables $9,183.86
as % of Ending Pool Balance 0.00%
Page 3 of 10
<PAGE>
PART III -- SERVICING CALCULATIONS 15-Oct-99
1. SOURCES AND USES OF COLLECTION ACCOUNT BALANCE Pool 1A (Retail) Pool 1B (FPL) Pool 1C (Forestry)
Wtd. Avg. APR 8.911% 8.911% 8.911%
Contract Value (Beg. of Collection Period), by origination pool $211,934,021.03 $35,325,733.39 $20,029,803.03
Contract Value (End of Collection Period), by origination pool $202,752,873.42 $33,635,005.21 $18,801,363.08
---------------- --------------- ---------------
Contract Value Decline $9,181,147.61 $1,690,728.18 $1,228,439.95
4.33% 4.79% 6.13%
Initial Pool Balance $542,700,893.08
Pool Balance (End of Collection Period) $520,453,505.93
Collections and Investment Income for the period $29,627,295.94
Negative Carry Amount $2,123,150.59
Total Distribution Amount (TDA) $31,750,446.53
Principal Distribution Amount (PDA) $21,018,947.20
Initial B Percentage 4.500%
Unscheduled Principal (per pool) $5,210,006.75 $745,234.99 $478,668.13
Total Unscheduled Principal $10,862,791.03
Pool 1D (Trucks) Pool 2A Pool 2B
Wtd. Avg. APR 8.911% 8.300% 8.300%
Contract Value (Beg. of Collection Period), by origination pool $55,699,623.82 $97,873,471.02 $11,894,653.18
Contract Value (End of Collection Period), by origination pool $49,594,260.01 $96,387,377.85 $9,538,026.13
--------------- --------------- --------------
Contract Value Decline $6,105,363.81 $1,486,093.17 $2,356,627.05
10.96% 1.52% 19.81%
Initial Pool Balance
Pool Balance (End of Collection Period)
Collections and Investment Income for the period
Negative Carry Amount
Total Distribution Amount (TDA)
Principal Distribution Amount (PDA)
Initial B Percentage
Unscheduled Principal (per pool) $4,276,492.68 $152,388.48 $0.00
Total Unscheduled Principal
Pool 3
Wtd. Avg. APR 8.156%
Contract Value (Beg. of Collection Period), by origination pool $109,943,587.61
Contract Value (End of Collection Period), by origination pool $109,744,600.23
---------------
Contract Value Decline $198,987.38
0.18%
Initial Pool Balance
Pool Balance (End of Collection Period)
Collections and Investment Income for the period
Negative Carry Amount
Total Distribution Amount (TDA)
Principal Distribution Amount (PDA)
Initial B Percentage
Unscheduled Principal (per pool) $0.00
Total Unscheduled Principal
2. CALCULATION OF DISTRIBUTABLE AMOUNTS
A-1 Note Beginning Principal Balance $68,629,000.00
A-1 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-1 Noteholders' Share of the Principal Distribution Amount 95.24%
A-1 Noteholders' Principal Distributable Amount $20,017,814.78
Principal Distribution Amount Remaining $1,001,132.42
A-2 Note Beginning Principal Balance $300,000,000.00
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 $0.00
Principal Distribution Amount Remaining $1,001,132.42
A-3 Note Beginning Principal Balance $100,000,000.00
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 $0.00
Principal Distribution Amount Remaining $1,001,132.42
A-4 Note Beginning Principal Balance $182,371,000.00
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 $1,001,132.42
B Note Beginning Principal Balance $31,500,000.00
B Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
B Noteholders' Share of the Principal Distribution Amounts 4.76%
B Noteholders' Principal Distributable Amount $1,001,132.42
Principal Distribution Amount Remaining $0.00
Certificate Beginning Principal Balance $17,500,000.00
Certificateholders' Principal Carryover Shortfall (Previous Period) $0.00
Certificateholders' Share of the Principal Distribution Amounts 0.00%
Certificateholders' Principal Distributable Amount $0.00
Interest Accrued on Class A-1 Notes this period $346,134.17
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 $346,134.17
Interest Accrued on Class A-2 Notes this period $1,688,000.00
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 $1,688,000.00
Interest Accrued on Class A-3 Notes this period $592,000.00
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 $592,000.00
Interest Accrued on Class A-4 Notes this period $1,118,542.13
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 $1,118,542.13
Interest Accrued on Class A-1, A-2, A-3 and A-4 Notes this period $3,744,676.30
Offered Noteholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Offered Noteholders' Interest Distributable Amount $3,744,676.30
Interest Accrued on Class B Notes this period $197,400.00
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 $197,400.00
Interest Accrued on Certificates this period $50,601.64
Certificateholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on Above Shortfall $0.00
Certificateholders' Interest Distributable Amount $50,601.64
3. ALLOCATION OF DISTRIBUTION AMOUNTS
a. TOTAL DISTRIBUTION AMOUNT (TDA) $31,750,446.53
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 $31,750,279.86
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 $346,134.17
Noteholders' Interest applicable to A-1 Notes
Paid this Period from TDA $346,134.17
Preliminary Noteholders' Interest Carryover Shortfall (Current Period)
applicable 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 $1,688,000.00
Noteholders' Interest applicable to A-2 Notes Paid this Period from TDA $1,688,000.00
Preliminary Noteholders' Interest Carryover Shortfall (Current Period)
applicable 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 $592,000.00
Noteholders' Interest applicable to A-3 Notes Paid this Period from TDA $592,000.00
Preliminary Noteholders' Interest Carryover Shortfall (Current Period)
applicable 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 $1,118,542.13
Noteholders' Interest applicable to A-4 Notes Paid this Period from TDA $1,118,542.13
Preliminary Noteholders' Interest Carryover Shortfall (Current Period)
applicable 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 $3,744,676.30
Offered Noteholders' Interest Paid this Period from TDA $3,744,676.30
Preliminary A Noteholders' Interest Carryover Shortfall (Current Period) $0.00
Total Distribution Amount Remaining $28,005,603.56
Noteholders' Interest Carryover Shortfall (Previous Period)
applicable to B Note $0.00
Interest Due (in Arrears) on above Shortfall $0.00
Interest Accrued on Class B Notes this period $197,400.00
Noteholders' Interest applicable to B Notes Paid this Period from TDA $197,400.00
Preliminary Noteholders' Interest Carryover Shortfall (Current Period)
applicabl B Notes $0.00
Total Distribution Amount Remaining $27,808,203.56
A-1 Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
A-1 Noteholders' Monthly Principal Distributable Amount $20,017,814.78
A-1 Noteholders' Principal Distributable Amount Paid from TDA $20,017,814.78
Preliminary A-1 Noteholders' Principal Carryover Shortfall
(Current Period) $0.00
Total Distribution Amount Remaining $7,790,388.79
Page 4 of 10
<PAGE>
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 $7,790,388.79
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 $7,790,388.79
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 $7,790,388.79
B Noteholders' Principal Carryover Shortfall (Previous Period) $0.00
B Noteholders' Monthly Principal Distributable Amount $1,001,132.42
B Noteholders' Principal Distributable Amount Paid from TDA $1,001,132.42
Preliminary B Noteholders' Principal Carryover Shortfall (Current Period) $0.00
Total Excess Distribution Amount Remaining $6,789,256.36
Page 5 of 10
<PAGE>
4. RECONCILIATION OF PRE-FUNDING ACCOUNT
Beginning Pre-Funding Account Balance $377,010,818.73
New Collateral Purchased $219,711,711.81
Deposit to Spread Account $5,492,792.80
Deposit to Yield Supplement Account (will be necessary only if
required by ratig agencies) $0.00
-----
Payment to Seller $214,218,919.01
Ending Pre-Funding Account Balance $157,299,106.92
Excess Pre-Funded Amount/(Payment to Seller) $0.00
Adjusted Ending Pre-Funding Account Balance $157,299,106.92
5. RECONCILIATION OF NEGATIVE CARRY ACCOUNT
Beginning Negative Carry Account Balance $6,204,895.65
Negative Carry 3.9979280%
Number of Days Remaining 120.00
Pre-Funded Percentage 53.86%
Negative Carry Withdrawls $2,123,150.59
Cumulative Negative Carry Withdrawls $2,123,150.59
Maximum Negative Carry Amount $2,043,829.13
Required Negative Carry Account Balance $2,043,829.13
Interim Ending Negative Carry Account Balance $4,081,745.06
Negative Carry Amount Released to Seller $2,037,915.93
Ending Negative Carry Account Balance $2,043,829.13
6. RECONCILATION OF YIELD SUPPLEMENT ACCOUNT - ONLY NECESSARY IF REQUIRED
BY RATING AGENCIES
Beginning Yield Supplement Account Balance $0.00
Deposit to Yield Supplement Account from Pre-Funding Account $0.00
Receivables Percentage 46.14%
Withdrawal of Yield Supplement Amount $0.00
Maximum Yield Supplement Amount $0.00
Required Yield Supplement Amount $0.00
Interim Yield Supplement Account Balance $0.00
Yield Supplement Amount Released to Seller $0.00
Ending Yield Supplement Account Balance $0.00
7. DISTRIBUTIONS FROM SPREAD ACCOUNT
Beginning Spread Account Balance $8,074,729.53
Deposit to Spread Account from Pre-Funding Account $5,492,792.80
Deposit to Spread Account from Excess Collections over Distributions $6,789,256.36
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) applicabble to A-4 Notes $0.00
Notes Remaining Distribution from Spread Account to Noteholders'
Distr. Account $0.00
Adj to Preliminary Noteholders' Interest Carryover Shortfall
(Current Period) applicable to B Notes $0.00
Remaining Distribution from Spread Account 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 Distribution from Spread Account to Noteholders' Distr. Account $0.00
Adj to Preliminary B Noteholders' Principal Carryover Shortfall
(Current Period) $0.00
Preliminary Spread Account Balance Remaining $20,356,778.69
Cumulative Realized Losses since 28-February-99 (Cut-off Date) $9,183.86
Are Cum. Realized Losses > 2.25% of Initial Pool Balance? NO
12*(Realized Losses during Collection Period + Repos at end of Collection $110,206.32
Is 12*Realized Losses + Unliq. Repos > 1.65% of Beg. Pool Balance? NO
60 day or > Delinquent Scheduled Amounts $111,152.44
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) $48,611,185.22
Preliminary A-2 Note Principal Balance (End of Period) $300,000,000.00
Preliminary A-3 Note Principal Balance (End of Period) $100,000,000.00
Preliminary A-4 Note Principal Balance (End of Period) $182,371,000.00
Preliminary B Note Principal Balance (End of Period) $30,498,867.58
Preliminary Total Principal Balance of Notes (End of Period) $661,481,052.80
Specified Spread Account Balance 10,818,932.64
Lesser of:
(a) 2.50% of the Initial Pool Balance during Pre-Fund, 2.0% Thereafter 10,818,932.64
(b) the Note Balance 661,481,052.80
Preliminary Spread Account Balance Remaining $20,356,778.69
Preliminary Excess Amount in Spread Account $9,537,846.05
Preliminary Shortfall Amount in Spread Account $0.00
Deposit to Spread Account from Remaing Excess Distribution $0.00
Spread Account Excess $9,537,846.05
Ending Spread Account Balance (after distributions) $10,818,932.64
Net Change in Spread Account Balance $2,744,203.11
8. CERTIFICATE DISTRIBUTIONS AND SERVICING FEES
Total Excess Distribution Amount Remaining $6,789,256.36
Certificateholders' Interest Carryover Shortfall (Previous Period) $0.00
Interest Due (in Arrears) on Above Shortfall $0.00
Interest Accrued on Certificates this period $50,601.64
Certificateholders' Interest Paid from Excess Distribution $50,601.64
Preliminary Certificateholders' Interest Carryover Shortfall
(Current Period) $0.00
Total Excess Distribution Amount Remaining $6,738,654.72
Certificateholders' Principal Carryover Shortfall (Previous Period) $0.00
Certificateholders' Principal Distributable Amount applicable to
current period $0.00
Certificateholders' Principal Distributable Amount Paid from
Excess Distrbution $0.00
Preliminary Certificateholders' Principal Carryover Shortfall
(Current Period) $0.00
Total Excess Distribution Amount Remaining $6,738,654.72
Servicing Fee Shortfall (Previous Period) $0.00
Servicing Fees Accrued during this Period $629,788.74
Servicing Fees Paid this Period Excess Distribution $629,788.74
Adjustment to Servicing Fee $0.00
Adjustment to Excess Distribution Amount Remaining $0.00
Servicing Fee Shortfall $0.00
Total Excess Distribution Amount Remaining $6,108,865.98
9. 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) $48,611,185.22
A-2 Note Principal Balance (End of Period) $300,000,000.00
A-3 Note Principal Balance (End of Period) $100,000,000.00
A-4 Note Principal Balance (End of Period) $182,371,000.00
B Note Principal Balance (End of Period) $30,498,867.58
Page 6 of 10
<PAGE>
Certificate Principal Balance (End of Period) $17,500,000.00
Total Principal Balance of Notes and Certificates (End of Period) $678,981,052.80
A-1 Note Pool Factor (End of Period) 0.7083184
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) 0.9682180
Certificate Pool Factor (End of Period) 1.0000000
Total Notes & Certificates Pool Factor (End of Period) 0.9699729
Specified Spread Account Balance (after all distributions and
adjustments) $10,818,932.64
Yield Supplement Account Balance (after all distributions and adjustment): $0.00
</TABLE>
Page 7 of 10
<PAGE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
CASE EQUIPMENT LOAN TRUST 1999-B
STATEMENT TO NOTEHOLDERS
$68,629,000 Class A-1 5.674% Asset Backed Notes due September 15, 2000
$300,000,000 Class A-2 6.330% Asset Backed Notes due October 15, 2003
$100,000,000 Class A-3 6.660% Asset Backed Notes due June 15, 2004
$182,371,000 Class A-4 6.900% Asset Backed Notes due June 15, 2006
$31,500,000 Class B 7.050% Asset Backed Notes due June 15, 2006
$17,500,000 7.050% Asset Backed Certificates
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(1) Amount of principal being paid on the Notes:
(a) A-1 Notes: $20,017,814.78
per $1,000 original principal amount: $291.68
(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: $1,001,132.42
per $1,000 original principal amount: $31.78
(f) Total $21,018,947.20
(2) Interest on the Notes
(a) A-1 Notes: $346,134.17
per $1,000 original principal amount: $5.04
(b) A-2 Notes: $1,688,000.00
per $1,000 original principal amount: $5.63
(c) A-3 Notes: $592,000.00
per $1,000 original principal amount: $5.92
(d) A-4 Notes: $1,118,542.13
per $1,000 original principal amount: $6.13
(e) B Notes: $197,400.00
per $1,000 original principal amount: $6.27
(f) Total $3,942,076.30
(3) Pool Balance at the end of the related Collection Period $520,453,505.93
(4) After giving effect to distributions on current Payment Date:
(a) (i) outstanding principal amount of A-1 Notes: $48,611,185.22
(ii) A-1 Note Pool Factor: 0.7083184
(b) (i) outstanding principal amount of A-2 Notes: $300,000,000.00
(ii) A-2 Note Pool Factor: 1.0000000
(c) (i) outstanding principal amount of A-3 Notes: $100,000,000.00
(ii) A-3 Note Pool Factor: 1.0000000
(d) (i) outstanding principal amount of A-4 Notes: $182,371,000.00
(ii) A-4 Note Pool Factor: 1.0000000
(e) (i) outstanding principal amount of B Notes: $30,498,867.58
(ii) B Note Pool Factor: 0.9682180
(f) (i) Certificate Balance $17,500,000.00
(ii) Certificate Pool Factor: 1.0000000
(5) Amount of Servicing Fee: $629,788.74
per $1,0000 Beginning of Collection Period: 1.94987565
(6) Amount of Administration Fee: $166.67
per $1,0000 Beginning of Collection Period: 0.00051601
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $9,183.86
(9) Amount in Spread Account: $10,818,932.64
(10) Amount in Pre-Funding Account: $157,299,106.92
(11) For the Final payment date with respect to the Funding Period, the NA
Remaining Pre-Funded Amount
(12) Amount in Negative Carry Account: $2,043,829.13
(13) Amount in Yield Supplement Account: $0.00
</TABLE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
CASE EQUIPMENT LOAN TRUST 1999-B
STATEMENT TO CERTIFICATEHOLDERS
$68,629,000 Class A-1 5.674% Asset Backed Notes due September 15, 2000
$300,000,000 Class A-2 6.330% Asset Backed Notes due October 15, 2003
$100,000,000 Class A-3 6.660% Asset Backed Notes due June 15, 2004
$182,371,000 Class A-4 6.900% Asset Backed Notes due June 15, 2006
$31,500,000 Class B 7.050% Asset Backed Notes due June 15, 2006
$17,500,000 7.050% Asset Backed Certificates
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(1) Amount of principal being paid or distributed:
(a) A-1 Notes: $20,017,814.78
per $1,000 original principal amount: $291.68
(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: $1,001,132.42
per $1,000 original principal amount: $31.78
(f) Certificates: $0.00
per $1,000 original principal amount: $0.00
(g) Total: $21,018,947.20
(2) Amount of interest being paid or distributed:
(a) A-1 Notes: $346,134.17
per $1,000 original principal amount: $5.04
(b) A-2 Notes: $1,688,000.00
per $1,000 original principal amount: $5.63
(c) A-3 Notes: $592,000.00
per $1,000 original principal amount: $5.92
(d) A-4 Notes: $1,118,542.13
per $1,000 original principal amount: $6.13
(e) B Notes: $197,400.00
per $1,000 original principal amount: $6.27
(f) Certificates: $50,601.64
per $1,000 original principal amount: $2.89
(g) Total: $3,992,677.94
(3) Pool Balance at end of related Collection Period: $520,453,505.93
(4) After giving effect to distributions on this Payment Date:
(a) (i) outstanding principal amount of A-1 Notes: $48,611,185.22
Page 8 of 10
<PAGE>
(ii) A-1 Note Pool Factor: 0.7083184
(b) (i) outstanding principal amount of A-2 Notes: $300,000,000.00
(ii) A-2 Note Pool Factor: 1.0000000
(c) (i) outstanding principal amount of A-3 Notes: $100,000,000.00
(ii) A-3 Note Pool Factor: 1.0000000
(d) (i) outstanding principal amount of A-4 Notes: $182,371,000.00
(ii) A-4 Note Pool Factor: 1.0000000
(e) (i) outstanding principal amount of B Notes: $30,498,867.58
(ii) B Note Pool Factor: 0.9682180
(f) (i) Certificate Balance $17,500,000.00
(ii) Certificate Pool Factor: 1.0000000
(5) Amount of Servicing Fee: $629,788.74
per $1,000 Beginning of Collection Period: 1.9498756
(6) Amount of Administration Fee: $166.67
per $1,000 Beginning of Collection Period: 0.0005160
(7) Aggregate Purchase Amounts for Collection Period: $0.00
(8) Aggregate amount of Realized Losses for the
Collection Period: $9,183.86
(9) Amount in Spread Account: $10,818,932.64
(10) Amount in Pre-Funding Account: $157,299,106.92
(11) For the Final payment date with respect to the Funding Period, the NA
Remaining Pre-Funded Amount
(12) Amount in Negative Carry Account: $2,043,829.13
(13) Amount in Yield Supplement Account: $0.00
</TABLE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
CASE EQUIPMENT LOAN TRUST 1999-B
PAYMENT AND DEPOSIT INSTRUCTIONS TO INDENTURE TRUSTEE
$68,629,000 Class A-1 5.674% Asset Backed Notes due September 15, 2000
$300,000,000 Class A-2 6.330% Asset Backed Notes due October 15, 2003
$100,000,000 Class A-3 6.660% Asset Backed Notes due June 15, 2004
$182,371,000 Class A-4 6.900% Asset Backed Notes due June 15, 2006
$31,500,000 Class B 7.050% Asset Backed Notes due June 15, 2006
$17,500,000 7.050% Asset Backed Certificates
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(1) Payment of Administration Fee to Administrator: $166.67
(2) Offered Noteholders' Interest Distributable Amount
deposited into Note Distribution Account: $3,942,076.30
(3) Noteholders' Principal Distributable Amount to be
deposited into Noteholders' Distribution Account: $21,018,947.20
(4) Certificateholders' Interest Distributable Amount to be
deposited into Certificateholders' Distribution Account: $50,601.64
(5) Certificateholders' Principal Distributable Amount to be
deposited into Certificateholders' Distribution Account: $0.00
(6) Payment of Servicing Fee to Servicer: $629,788.74
(7) Release to Seller from Excess Collections over Distributions $6,108,865.98
Check for Error NO ERROR
Sum of Above Distributions $31,750,446.53
Total Distribution Amount plus Releases to Seller $31,750,446.53
</TABLE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Page 9 of 10
<PAGE>
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
CASE EQUIPMENT LOAN TRUST 1999-B
SERVICER'S CERTIFICATE
$68,629,000 Class A-1 5.674% Asset Backed Notes due September 15, 2000
$300,000,000 Class A-2 6.330% Asset Backed Notes due October 15, 2003
$100,000,000 Class A-3 6.660% Asset Backed Notes due June 15, 2004
$182,371,000 Class A-4 6.900% Asset Backed Notes due June 15, 2006
$31,500,000 Class B 7.050% Asset Backed Notes due June 15, 2006
$17,500,000 7.050% Asset Backed Certificates
<TABLE>
<CAPTION>
<S><C>
Payment Date: 15-Oct-99
(1) Total Distribution Amount: $31,750,446.53
(2) Administration Fee: $166.67
(3) Noteholders' Interest Distributable Amount applicable to A-1 Notes: $346,134.17
(4) Noteholders' Interest Carryover Shortfall applicable to A-1 Notes: $0.00
(5) Noteholders' Interest Distributable Amount applicable to A-2 Notes: $1,688,000.00
(6) Noteholders' Interest Carryover Shortfall applicable to A-2 Notes: $0.00
(7) Noteholders' Interest Distributable Amount applicable to A-3 Notes: $592,000.00
(8) Noteholders' Interest Carryover Shortfall applicable to A-3 Notes: $0.00
(9) Noteholders' Interest Distributable Amount applicable to A-4 Notes: $1,118,542.13
(10) Noteholders' Interest Carryover Shortfall applicable to A-4 Notes: $0.00
(11) Noteholders' Interest Distributable Amount applicable to B Notes: $197,400.00
(12) Noteholders' Interest Carryover Shortfall applicable to B Notes: $0.00
(13) Offered Noteholders' Interest Distributable Amount' $3,942,076.30
deposited into Note Distribution Account:
(14) A-1 Noteholders' Monthly Principal Distributable Amount: $20,017,814.78
(15) % of Principal Distribution Amount applicable to A-1 Noteholders 95.24%
(16) A-1 Noteholders' Principal Carryover Shortfall: $0.00
(17) A-1 Noteholders' Principal Distributable Amount: $20,017,814.78
(18) A-2 Noteholders' Monthly Principal Distributable Amount: $0.00
(19) % of 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 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 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: $1,001,132.42
(31) % of Principal Distribution Amount applicable to B Noteholders 4.76%
(32) B Noteholders' Principal Carryover Shortfall: $0.00
(33) B Noteholders' Principal Distributable Amount: $1,001,132.42
(34) Noteholders' Principal Distribution Amount: $21,018,947.20
(35) Noteholders' Distributable Amount: $24,961,023.50
(36) Deposit to Spread Account (from excess collections): $6,789,256.36
(37) Specified Spread Account Balance (after all distributions and
adjustmen$10,818,932.64 The Lesser of:
(a) 2.00% of the Initial Pool Balance $10,818,932.64
(b) the Note Balance $661,481,052.80
(38) Spread Account Balance over the Specified Spread Account Balance: $9,537,846.05
(39) Certificateholders' Interest Distributable Amount: $50,601.64
(40) Certificateholders' Interest Carryover Shortfall: $0.00
(41) % of Principal Distribution Amount applicable to Certificat holders 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: $50,601.64
(46) Servicing Fee: $629,788.74
(47) Excess Amounts Distributed To Seller:
(a) Release of Remaining Excess Distributions $6,108,865.98
(b) Release of Excess Amount in Negative Carry Account $2,037,915.93
(c) 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: $322,989,181.27
(50) After giving effect to all distributions on such Payment Date:
Outstanding Principal Balance of A-1 Notes: $48,611,185.22
A-1 Note Pool Factor: 0.7083184
Outstanding Principal Balance of A-2 Notes: $300,000,000.00
A-2 Note Pool Factor: 1.0000000
Outstanding Principal Balance of A-3 Notes: $100,000,000.00
A-3 Note Pool Factor: 1.0000000
Outstanding Principal Balance of A-4 Notes: $182,371,000.00
A-4 Note Pool Factor: 1.0000000
Outstanding Principal Balance of B Notes: $30,498,867.58
B Note Pool Factor: 0.9682180
Outstanding Principal Balance of the Certificates: $17,500,000.00
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: $9,183.86
(53) Spread Account Balance after giving effect to all distributions: $10,818,932.64
</TABLE>
Page 10 of 10
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