SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
(Mark One)
[ X ] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the Fiscal Year Ended December 31, 1997 Commission File No.
33-94848
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ________________ to
________________
CATERPILLAR FINANCIAL FUNDING CORPORATION
(Exact name of Registrant as specified in its charter)
Nevada 88-
0342613
(State or other jurisdiction of (I.R.S.
Employer
incorporation or organization)
Identification Number)
Greenview Plaza
2950 East Flamingo Road, Suite C-3B
Las Vegas, Nevada 89121
(Address of principal executive offices) (Zip
Code)
Registrant's telephone number, including area code: (702) 735-
2814
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark whether the Registrant (1) has
filed all reports required to be filed by Section 13 or 15(d) of
the Securities Exchange Act of 1934 during the preceding 12
months (or for such shorter period that the Registrant was
required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes X No
Indicate by check mark if disclosure of delinquent
filers pursuant to Item 405 of Regulation S-K is not contained
herein, and will not be contained, to the best of Registrant's
knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. [ ] Not Applicable.
PART I.
Item 1. Business
Not Applicable.
Item 2. Properties
Caterpillar Financial Asset Trust 1997-A ("Trust-A") is a
trust established under the laws of the State of Delaware by the
Trust Agreement dated May 1, 1997 (the "Trust-A Agreement")
between Caterpillar Financial Funding Corporation (the "Seller")
and Chase Manhattan Bank, Delaware, acting thereunder not in its
individual capacity but solely as trustee of Trust-A.
Caterpillar Financial Services Corporation (the "Servicer") is
the Servicer under a Sale and Servicing Agreement dated May 1,
1997 between the Servicer, the Seller and Trust-A. On May 29,
1997, Trust-A issued:
Asset Backed Certificates
$ 8,666,681 aggregate principal amount at 6.65%
Asset Backed Notes
$ 88,000,000 aggregate principal amount of Class A-1 5.7225%
$128,000,000 aggregate principal amount of Class A-2 6.10%
$108,100,000 aggregate principal amount of Class A-3 6.45%
$ 13,870,000 aggregate principle amount of Class B 6.65%
The Certificates evidence fractional undivided interest in the
Trust-A. The Notes evidence debt obligations of the Trust-A.
Caterpillar Financial Asset Trust 1997-B ("Trust-B") is a
trust established under the laws of the State of Delaware by the
Trust Agreement dated November 1, 1997 (the "Trust-B Agreement")
between the Seller and Chase Manhattan Bank, Delaware, acting
thereunder not in its individual capacity but solely as trustee
of Trust-B. Caterpillar Financial Services Corporation is the
Servicer under a Sale and Servicing Agreement dated November 1,
1997 between the Servicer, the Seller and Trust-B. On November
25, 1997, Trust-B issued:
Asset Backed Certificates
$ 7,861,558 aggregate principal amount at 6.35%
Asset Backed Notes
$ 81,000,000 aggregate principal amount of Class A-1 5.805%
$110,900,000 aggregate principal amount of Class A-2 6.018%
$102,091,000 aggregate principal amount of Class A-3 6.16%
$ 12,577,000 aggregate principle amount of Class B 6.35%
The Certificates evidence fractional undivided interest in the
Trust-B. The Notes evidence debt obligations of the Trust-B.
The property of each Trust includes (i) fixed or variable
rate retail installment sale contracts and/or equipment finance
lease contracts secured by new and/or used machinery manufactured
primarily by Caterpillar Inc. or its affiliate Mitsubishi
Caterpillar Forklift America Inc.(the "Financed Equipment"),
including rights to receive certain payments made with respect to
such contracts sold to the Trust by the Seller, (collectively the
"Receivables")(ii) all monies (including accrued interest) due or
received thereunder on or after the applicable cutoff date, and
(iii) security interests in the Financed Equipment and certain
other cross-collateralized equipment, (iv) amounts on deposit in
certain trust accounts, including a related Collection Account,
any Reserve Account, and Pre-Funding Account and any other
account identified in the related Prospectus Supplement, and the
proceeds thereof, (v) the rights to proceeds from claims on
physical damage, credit life and disability insurance policies,
if any, covering the Financed Equipment or the obligors on the
Receivables, as the case may be, (vi) the proceeds of any
repossessed Financed Equipment, (vii) the rights of the Seller
under the related Purchase Agreement between the Servicer and the
Seller, (viii) the interest of the Seller in any proceeds from
recourse to dealers on such receivables, (ix) interest earned on
short-term investments made by the Trust, and (x) any proceeds of
the foregoing.
As of December 31, 1997, the end of the fiscal year of the
Trust for which this Form 10-K annual report is being filed, the
aggregate principal balance of the Receivables remaining in the
Trust was approximately $563,177,440.
For additional information regarding principal and interest
payments in respect to the Certificates and the Notes and
information regarding servicing compensation and other fees paid
by Trust-A during the year ending December 31, 1997, refer to
Exhibits 99.1 , the Statement to Certificate holders for the
fiscal year ended December 31, 1997 for Trust-A. For additional
information regarding principal and interest payments in respect
of the Certificates and the Notes and information regarding
servicing compensation and other fees paid by Trust-B during the
year ending December 31, 1997, refer to Exhibits 99.4, the
Statement to Certificate holders for the fiscal year ended
December 31, 1997 for Trust-B.
Item 3. Legal Proceedings
The Registrant knows of no material pending legal
proceedings involving either the Trust property, Trustee, Seller
or Servicer in respect of the Trust.
Item 4. Submission of Matters to a Vote of Security Holders
No matter was submitted during the fiscal year covered by
this report to a vote of holders of either the Notes or
Certificates.
PART II.
Item 5. Market for Registrant's Common Equity and Related
Stockholder Matters
(a) To the best knowledge of the Registrant, there is no
established public market for the Certificates.
(b) As of December 31, 1997, there was one Certificate
holder of record.
(c) Not Applicable.
Item 6. Selected Financial Data
Not Applicable
Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operations
Not Applicable.
Item 8. Financial Statements and Supplementary Data
Not Applicable.
Item 9. Changes in and Disagreements with Accountants on
Accounting and Financial Disclosure
None.
PART III.
Item 10. Directors and Executive Officers of the Registrant
Not Applicable.
Item 11. Executive Compensation
Not Applicable.
Item 12. Security Ownership of Certain Beneficial Owners and
Management
Not Applicable.
Item 13. Certain Relationships and Related Transactions
Not Applicable.
PART IV.
Item 14. Exhibits, Financial Statement Schedules, and Reports on
Form 8-K
(a) The following documents are filed as part of this
report:
Exhibit No.
99.1 Trust-A Statement to Certificate Holders *
99.2 Trust-A Statement to Note Holders*
99.3 Trust-A Servicer's Certificate*
99.4 Trust-B Statement to Certificate Holders*
99.5 Trust-B Statement to Note Holders*
99.6 Trust-B Servicer's Certificate
99.4 Fiscal Year-end Statement (unaudited) for the
period ended
December 31, 1997
*Relating to the monthly collection period ending December
31, 1997.
(b) Reports on Form 8-K
Current report on Form 8-K dated February 25, 1998
(Item 7).
(c) Not Applicable.
(d) Not Applicable.
Supplemental information to be furnished with reports filed
pursuant to Section 15(d) of the Act by Registrants which have
not registered Securities pursuant to Section 12 of the Act.
No annual report, proxy statement, form of proxy or other
proxy soliciting material has been sent to certificate holders,
and the Registrant does not presently contemplate sending any
such materials subsequent to the filing of this report.
Signatures
Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
CATERPILLAR FINANCIAL FUNDING CORPORATION
(Registrant)
Dated: March 24,1998 By: /s/Paul J. Gaeto
Paul J. Gaeto, Secretary
Pursuant to the requirements of the Securities Exchange Act
of 1934, this report has been signed below by the following
persons on behalf of the Registrant and in the capacities and on
the dates indicated.
Date Signature
Title
March 24,1998 _/s/Scott E. Harris President
(Principle
(Scott E. Harris) Executive Officer)
March 24,1998 /s/Edward J. Scott Treasurer
(Principal
(Edward J. Scott) Financial
Officer)
March 24,1998 /s/James L. Mills_ CFO (Principle
(James L. Mills) Accounting
Officer)
EXHIBIT INDEX
SEQUENTIALLY
EXHIBIT NO.
NUMBERED PAGE
99.1 Trust-A Statement to Certificate holders*
8
99.2 Trust-A Statement to Note holders*
10
99.3 Trust-A Servicer's Certificate*
12
99.4 Trust-B Statement to Certificate Holders*
16
99.5 Trust-B Statement to Note Holders*
18
99.6 Trust-B Servicer's Certificate
20
99.4 Fiscal Year-end Statement (unaudited) for the
24
period ended December 31, 1997
*Relating to the monthly collection period ending December 31,
1997.
Exhibit 99.4
CATERPILLAR FINANCIAL FUNDING CORPORATION
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(Thousands of dollars)
December 31, 1997
Assets:
Cash and cash equivalents $ 1,408.8
Investment in Caterpillar Financial Asset 16,823.3
Trust
Other Receivables 35,779.5
Deferred income taxes 527.1
Total assets $ 54,538.7
Liabilities and stockholder's equity:
Payable to Caterpillar Financial Services $31,915.0
Corp.
Income taxes payable 5,610.4
Other liabilities 806.4
Total liabilities $ 38,331.8
Common stock - $1 par value 4,204.2
Authorized: 2,000 shares
Issued and outstanding: one share
Retained Earnings 12,002.7
Total stockholder's equity 16,206.9
Total liabilities and stockholder's equity $ 54,538.7
CATERPILLAR FINANCIAL FUNDING CORPORATION
CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED DECEMBER 31,1997
(Thousands of dollars)
Revenues:
Profit on sale of securities $
1,091.9
Securitization income 4,994.5
Miscellaneous income 56.0
Total revenues 6,142.4
Expenses:
General, operating, and 463.2
administrative
Total expenses 463.2
Income before income taxes 5,682.2
Provision for income taxes 1,988.8
Net income 3,693.4
Retained earnings - beginning of year 8,309.3
Retained earnings - end of year $12,002.
7
"Caterpillar Financial Asset Trust, 1997-A"
Statement for Certificateholders Pursuant to Section 5.06(a) Exhibit 99.1
Distribution Date:
( i ) Amount of principal being paid on Notes:
"(a) Class A-1 Notes, CUSIP NO 149114AM28:" "84,048,152.82 "
" per $1,000 original principal amount:" 955.0926457
"(b) Class A-2 Notes, CUSIP NO 149114AN01:" 0.00
" per $1,000 original principal amount:" 0.0000000
"(c) Class A-3 Notes, CUSIP NO 149114AP58:" 0.00
" per $1,000 original principal amount:" 0.0000000
"(d) Class B Notes, CUSIP NO 149114AQ32:" 0.00
" per $1,000 original principal amount:" 0.0000000
(e) Certificates: 0.00
" per $1,000 original principal amount:" 0.00000000
(f) Total: "84,048,152.82 "
(ii) Amount of interest being paid or distributed:
"(a) Class A-1 Notes, CUSIP NO 149114AM28:" "1,960,478.81 "
" per $1,000 original principal amount:" 22.2781682
"(b) Class A-2 Notes, CUSIP NO 149114AN01:" "5,118,577.78 "
" per $1,000 original principal amount:" 39.9888889
"(c) Class A-3 Notes, CUSIP NO 149114AP58:" "4,570,828.33 "
" per $1,000 original principal amount:" 42.2833333
"(d) Class B Notes, CUSIP NO 149114AQ32:" "604,654.94 "
" per $1,000 original principal amount:" 43.5944444
(e) Certificates: "384,222.86 "
" per $1,000 original principal amount:" 44.33333333
(f) Total: "12,638,762.72 "
(iii) Pool Balance at end of related collection period: "265,158,893.06 "
(iv) After giving effect to distributions on this Distribution Date:
(a) (i) outstanding principal amount of Class A-1 Notes: "3,951,847.18 "
(ii) Class A-1 Note Pool Factor: 0.04490735
(b) (i) outstanding principal amount of Class A-2 Notes: "128,000,000.00 "
(ii) Class A-2 Note Pool Factor: 1.00000000
(c) (i) outstanding principal amount of Class A-3 Notes: "108,100,000.00 "
(ii) Class A-3 Note Pool Factor: 1.00000000
(d) (i) outstanding principal amount of Class B Notes: "13,870,000.00 "
(ii) Class B Note Pool Factor: 1.00000000
(e) (i) Certificate Balance: "8,666,681.00 "
(ii) Certificate Pool Factor: 1.00000000
(v) Amount of Servicing Fee paid: "2,039,669.38 "
(vi) Amount of Administration Fee paid: "4,000.00 "
(vii) Aggregate Purchase Amounts for Collection Period: "812,160.32 "
(viii) Aggregate Amount of Realized Losses "36,580.72 "
(ix) Balance of the Reserve Account at end of
related collection period: "7,799,325.00 "
(x) Specified Reserve Account Balance at end of
related collection period: "7,799,325.00 "
(xi) Class A Noteholders Distributable Amount
(a) Interest "11,649,884.92 "
(b) Principal "84,048,152.82 "
(c) amount of the above to be withdrawn from the Reserve and
deposited into the Class A Note Distribution Account pursuant to
Section 5.05 (c ) 0.00
(d) Total "95,698,037.74 "
(xii) Class B Noteholders Distributable Amount
(a) Interest "604,654.94 "
(b) Principal 0.00
(c) amount of the above to be withdrawn from the Reserve and
deposited into the ClassB Note Distribution Account pursuant to
Section 5.05 (d) 0.00
(d) Total "604,654.94 "
(xiii) Certificateholder's Distributable Amount
(a) Interest "384,222.86 "
(b) Principal 0.00
( c) Total
"384,222.86 "
"Caterpillar Financial Asset Trust, 1997-A"
Statement for Noteholders pursuant to Section 5.06(b) Exhibit 99.2
Distribution Date:
( i ) Amount of principal being paid on Notes:
"(a) Class A-1 Notes, CUSIP NO 149114AM28:" "84,048,152.82 "
" per $1,000 original principal amount:" 955.09264571
"(b) Class A-2 Notes, CUSIP NO 149114AN01:" 0.00
" per $1,000 original principal amount:" 0.00000000
"(c) Class A-3 Notes, CUSIP NO 149114AP58:" 0.00
" per $1,000 original principal amount:" 0.00000000
"(d) Class B Notes, CUSIP NO 149114AQ32:" 0.00
" per $1,000 original principal amount:" 0.00000000
(e) Total: "84,048,152.82 "
(ii) Amount of interest being paid or distributed:
"(a) Class A-1 Notes, CUSIP NO 149114AM28:" "1,960,478.81 "
" per $1,000 original principal amount:" 22.27816825
"(b) Class A-2 Notes, CUSIP NO 149114AN01:" "5,118,577.78 "
" per $1,000 original principal amount:" 39.98888889
"(c) Class A-3 Notes, CUSIP NO 149114AP58:" "4,570,828.33 "
" per $1,000 original principal amount:" 42.28333333
"(d) Class B Notes, CUSIP NO 149114AQ32:" "604,654.94 "
" per $1,000 original principal amount:" 43.59444444
(e) Total: "12,254,539.86 "
(iii) Pool Balance at end of related collection period: "265,158,893.06 "
(iv) After giving effect to distributions on this Distribution Date:
(a) (i) outstanding principal amount of Class A-1 Notes: "3,951,847.18 "
(ii) Class A-1 Note Pool Factor: 0.0449074
(b) (i) outstanding principal amount of Class A-2 Notes: "128,000,000.00 "
(ii) Class A-2 Note Pool Factor: 1.0000000
(c) (i) outstanding principal amount of Class A-3 Notes: "108,100,000.00 "
(ii) Class A-3 Note Pool Factor: 1.0000000
(d) (i) outstanding principal amount of Class A-3 Notes: "13,870,000.00 "
(ii) Class B Note Pool Factor: 1.0000000
(e) (i) Certificate Balance: "8,666,681.00 "
(ii) Certificate Pool Factor: 1.0000000
(v) Amount of Servicing Fee paid: "2,039,669.38 "
(vi) Amount of Administration Fee paid: "4,000.00 "
(vii) Aggregate Purchase Amounts for Collection Period: "812,160.32 "
(viii) Aggregate Amount of Realized Losses "36,580.72 "
(ix) Balance of the Reserve Account at end of
related collection period: "7,799,325.00 "
(x) Specified Reserve Account Balance at end of
related collection period: "7,799,325.00 "
(xi) Class A Noteholders Distributable Amount
(a) Interest "11,649,884.92 "
(b) Principal "84,048,152.82 "
(c) amount of the above to be withdrawn from the Reserve and
deposited into the Class A Note Distribution Account pursuant to
Section 5.05 (c ) 0.00
(d) Total
"95,698,037.74 "
(xii) Class B Noteholders Distributable Amount
(a) Interest "604,654.94 "
(b) Principal 0.00
(c) amount of the above to be withdrawn from the Reserve and
deposited into the ClassB Note Distribution Account pursuant to
Section 5.05 (d) 0.00
(d) Total "604,654.94 "
(xiii) Certificateholder's Distributable Amount
(a) Interest "384,222.86 "
(b) Principal 0.00
( c) Total "384,222.86 "
"Caterpillar Financial Asset Trust, 1997-A" Exhibit 99.3
"$ 88,000,000 Class A-1 5.7225% Asset Backed Notes (CUSIP NO149114AM28 )"
"$128,000,000 Class A-2 6.10% Asset Backed Notes (CUSIP NO149114AN01 )"
"$108,100,000 Class A-3 6.45% Asset Backed Notes (CUSIP NO149114AP58 )"
"$ 13,870,000 Class B 6.65% Asset Backed Notes (CUSIP NO149114AQ32) )"
"$ 8,666,681 6.65% Asset Backed Certificates "
Servicing Certificate/Statement to Noteholders and Certificateholders
Distribution Date
Collection Period Month Begin Year End Statement
Collection Period Month End as of 12/31/1997
Original Pool Balance "346,636,681.02 "
Beginning Pool Balance "346,636,681.02 "
Ending Pool Balance "265,158,893.06 "
Total Interest Collections "16,991,071.64 "
Total Principal Collections "80,494,506.42 "
Warranty Repurchases:
Contracts deferred beyond A-3 maturity date 0.00
Administrative Repurchases Final Certification "812,160.32 "
Liquidation Proceeds "134,540.50 "
Reinvestment Income "298,306.04 "
TOTAL COLLECTIONS FOR THE COLLECTION PERIOD "98,730,584.92 "
Miscellaneous Data
Aggregate Scheduled Amounts 31 - 60 days past due "4,276,982.35 "
Aggregate Scheduled Amounts 61 days or more past due "2,398,896.34 "
Net Losses on Liquidated Receivables This Period "36,580.72 "
Number of Loans at Beginning of Period "4,119 "
Number of Loans at End of Period "3,837 "
Repossessed Equipment not Sold or Reassigned (Beginning) 0.00
Repossessed Equipment not Sold or Reassigned (End) "970,303.18 "
Calculation of Distributable Amounts
Original Class A-1 Principal Balance "88,000,000.00 "
Class A-1 Note Beginning Principal Balance "88,000,000.00 "
Class A-1 Noteholders' Principal Carryover Shortfall 0.00
A-1 Noteholders' share of the Principal Distribution Amount 100.00%
Class A-1 Noteholders' Principal Distributable Amount "81,477,787.96 "
Original Class A-2 Principal Balance "128,000,000.00 "
Class A-2 Note Beginning Principal Balance "128,000,000.00 "
A-2 Noteholders' Percentage 100.00%
Class A-2 Noteholders' Principal Carryover Shortfall 0.00
A-2 Noteholders' share of Principal Distribution Amount 0.00%
Class A-2 Noteholders' Principal Distributable Amount 0.00
Original Class A-3 Principal Balance "108,100,000.00 "
Class A-3 Note Beginning Principal Balance "108,100,000.00 "
A-3 Noteholders' Percentage 100.00%
Class A-3 Noteholders' Principal Carryover Shortfall 0.00
A-3 Noteholders' share of Principal Distribution Amount 0.00%
Class A-3 Noteholders' Principal Distributable Amount 0.00
Original Class B Principal Balance "13,870,000.00 "
Class B Note Beginning Principal Balance "13,870,000.00 "
B Noteholders' Percentage 100.00%
Class B Noteholders' Principal Carryover Shortfall 0.00
B Noteholders' share of Principal Distribution Amount 0.00%
Class B Noteholders' Principal Distributable Amount 0.00
Original Certificate Principal Balance "8,666,681.00 "
Certificate Beginning Principal Balance "8,666,681.00 "
Certificateholders' Principal Carryover Shortfall 0.00
Certificateholders' Principal Distributable Amount 0.00
Total Beginning Principal Balance of Notes and Certificates "346,636,681.00 "
Allocation of Total Distribution Amount (TDA)
Interest Distribution Amount (IDA) "17,252,796.96 "
Principal Distribution Amount (PDA) "81,477,787.96 "
Total Distribution Amount (TDA) "98,730,584.92 "
Administration Fee Shortfall (Beginning of Period) 0.00
Administration Fees Accrued during this Period "4,000.00 "
Administration Fees Paid this Period from TDA "4,000.00 "
Administration Fee Shortfall (End of Period Shortfall) 0.00
Total Distribution Amount Remaining "98,726,584.92 "
A-1 Noteholders' Interest Carryover Shortfall (Beginning) 0.00
Interest Due (in Arrears) on Above Beginning Shortfall 0.00
A-1 Noteholders' Prepayment Premium 0.00
A-1 Noteholders' Interest Distributable Amount 5.7225% "1,960,478.81 "
A-1 Noteholders' Interest Paid this Period from TDA "1,960,478.81 "
Prelim. A-1 Noteholders' Interest Carryover Shortfall (End) 0.00
A-2 Noteholders' Interest Carryover Shortfall (Beginning) 0.00
Interest Due (in Arrears) on Above Beginning Shortfall 0.00
A-2 Noteholders' Prepayment Premium 0.00
A-2 Noteholders' Interest Distributable Amount 6.10% "5,118,577.78 "
A-2 Noteholders' Interest Paid this Period from TDA "5,118,577.78 "
Prelim. A-2 Noteholders' Interest Carryover Shortfall (End) 0.00
A-3 Noteholders' Interest Carryover Shortfall (Beginning) 0.00
Interest Due (in Arrears) on Above Beginning Shortfall 0.00
A-3 Noteholders' Prepayment Premium 0.00
A-3 Noteholders' Interest Distributable Amount 6.45% "4,570,828.33 "
A-3 Noteholders' Interest Paid this Period from TDA "4,570,828.33 "
Prelim. A-3 Noteholders' Interest Carryover Shortfall (End) 0.00
B Noteholders' Interest Carryover Shortfall (Beginning) 0.00
Interest Due (in Arrears) on Above Beginning Shortfall 0.00
B Noteholders' Prepayment Premium 0.00
B Noteholders' Interest Distributable Amount 6.65% "604,654.94 "
B Noteholders' Interest Paid this Period from TDA "604,654.94 "
Prelim. B Noteholders' Interest Carryover Shortfall (End) 0.00
Noteholders' Interest Carryover Shortfall (Beginning) 0.00
Interest Due (in Arrears) on Above Beginning Shortfall 0.00
Noteholders' Prepayment Premium 0.00
Noteholders' Interest Distributable Amount "12,254,539.86 "
Noteholders' Interest Paid this Period from TDA "12,254,539.86 "
Prelim. Noteholders' Interest Carryover Shortfall (End) 0.00
Total Distribution Amount Remaining "86,472,045.06 "
Class A-1 Noteholders' Principal Carryover Shortfall (Beginning) 0.00
A-1 Noteholders' Principal Distributable Amount this Period "81,477,787.96 "
A-1 Noteholders' Principal Paid this Period from TDA "81,477,787.96 "
Prelim. Class A-1 Noteholders' Principal Carryover Shortfall (End) 0.00
Total Distribution Amount Remaining "4,994,257.10 "
Class A-2 Noteholders' Principal Carryover Shortfall (Beginning) 0.00
A-2 Noteholders' Principal Distributable Amount this Period 0.00
A-2 Noteholders' Principal Paid this Period from TDA 0.00
Prelim. Class A-2 Noteholders' Principal Carryover Shortfall (End) 0.00
Total Distribution Amount Remaining "4,994,257.10 "
Class A-3 Noteholders' Principal Carryover Shortfall (Beginning) 0.00
A-3 Noteholders' Principal Distributable Amount this Period 0.00
A-3 Noteholders' Principal Paid this Period from TDA 0.00
Prelim. Class A-3 Noteholders' Principal Carryover Shortfall (End) 0.00
Total Distribution Amount Remaining "4,994,257.10 "
Class B Noteholders' Principal Carryover Shortfall (Beginning) 0.00
B Noteholders' Principal Distributable Amount this Period 0.00
B Noteholders' Principal Paid this Period from TDA 0.00
Prelim. Class B Noteholders' Principal Carryover Shortfall (End) 0.00
Total Distribution Amount Remaining "4,994,257.10 "
Servicing Fee Shortfall (Beginning of Period) 0.00
Servicing Fees Accrued during this Period 1.00% "2,039,669.38 "
Servicing Fees Paid this Period from TDA "2,039,669.38 "
Servicing Fee Shortfall (End of Period) 0.00
Total Distribution Amount Remaining "2,954,587.72 "
Specified Reserve Account Balance "7,799,325.00 "
Reserve Account Balance "7,799,325.00 "
Deposit to Reserve Account Balance 0.00
Total Distribution Amount Remaining "2,954,587.72 "
Certificateholders' Interest Carryover Shortfall (Beginning) 0.00
Interest Due (in Arrears) on Above Beginning Shortfall 0.00
Certificateholders' Prepayment Premium 0.00
Certificateholders' Earned Interest 6.65% "384,222.86 "
Certificateholders' Interest Paid this Period from TDA "384,222.86 "
Prelim. Certificateholders' Interest Carryover Shortfall (End) 0.00
Total Distribution Amount Remaining "2,570,364.86 "
Certificateholders' Principal Carryover Shortfall (Beginning) 0.00
Certificateholders' Principal Distributable Amount 0.00
Certificateholders' Principal Paid this Period from TDA 0.00
Prelim. Certificateholders' Principal Carryover Shortfall (End) 0.00
Total Distribution Amount Remaining "2,570,364.86 "
Distributions to/from Reserve Account
Reserve Account Balance at beginning of period "7,799,325.00 "
Deposit to Reserve Account from Excess Collections "2,570,364.86 "
Distribute from Reserve Account to Noteholders' Distr. Account 0.00
Adjustment to A-1 Interest Carryover Shortfall 0.00
Adjustment to A-2 Interest Carryover Shortfall 0.00
Adjustment to A-3 Interest Carryover Shortfall 0.00
Adjustment to B Interest Carryover Shortfall 0.00
Adjustment to A-1 Principal Carryover Shortfall 0.00
Adjustment to A-2 Principal Carryover Shortfall 0.00
Adjustment to A-3 Principal Carryover Shortfall 0.00
Adjustment to B Principal Carryover Shortfall 0.00
Reserve Account Balance Remaining "10,369,689.86 "
Class A-1 Note Principal Balance (End of Period-Prior to distibution of excess
reserve) "6,522,212.04 "
Class A-2 Note Principal Balance (End of Period- Prior to distribution of excess
reserve) "128,000,000.00 "
Class A-3 Note Principal Balance (End of Period- Prior to distribution of excess
reserve) "108,100,000.00 "
Class B Note Principal Balance (End of Period- Prior to distribution of excess
reserve) "13,870,000.00 "
Certificate Principal Balance (End of Period) "8,666,681.00 "
Total Principal Balance of Notes and Certificates "265,158,893.04 "
Specified Reserve Account Balance "7,799,325.00 "
Lesser of:
Outstanding Aggregate Principal Amount of the Notes "256,492,212.04 "
" $7,799,325 (2.25% of the Initial Pool Balance)" "7,799,325.00 "
Reserve Account Balance Remaining "10,369,689.86 "
Excess Reserve Account Balance "2,570,364.86 "
Release from Reserve Account to A-1 Noteholders as Principal "2,570,364.86 "
Release from Reserve Account to A-2 Noteholders as Principal 0.00
Release from Reserve Account to A-3 Noteholders as Principal 0.00
Release from Reserve Account to B Noteholders as Principal 0.00
Release from Reserve Account to Seller 0.00
Ending Reserve Account Balance (after distributions) "7,799,325.00 "
Net Change in Reserve Account Balance 0.00
Ending Balances/Factors
Class A-1 Interest Carryover Shortfall (Ending Balance) 0.00
Class A-2 Interest Carryover Shortfall (Ending Balance) 0.00
Class A-3 Interest Carryover Shortfall (Ending Balance) 0.00
Class B Interest Carryover Shortfall (Ending Balance) 0.00
Noteholders' Interest Carryover Shortfall (Ending Balance) 0.00
Class A-1 Principal Carryover Shortfall (Ending Balance) 0.00
Class A-2 Principal Carryover Shortfall (Ending Balance) 0.00
Class A-3 Principal Carryover Shortfall (Ending Balance) 0.00
Class B Principal Carryover Shortfall (Ending Balance) 0.00
Certificateholders' Interest Carryover Shortfall (Ending Balance) 0.00
Certificateholders' Principal Carryover Shortfall (Ending Balance) 0.00
Class A-1 Note Principal Balance (End of Period) "3,951,847.18 "
Class A-2 Note Principal Balance (End of Period) "128,000,000.00 "
Class A-3 Note Principal Balance (End of Period) "108,100,000.00 "
Class B Note Principal Balance (End of Period) "13,870,000.00 "
Certificate Principal Balance (End of Period) "8,666,681.00 "
Total Principal Balance of Notes and Certificates "262,588,528.18 "
Class A-1 Note Pool Factor (End of Period) 0.0449074
Class A-2 Note Pool Factor (End of Period) 1.0000000
Class A-3 Note Pool Factor (End of Period) 1.0000000
Class B Note Pool Factor (End of Period) 1.0000000
Certificate Pool Factor (End of Period) 1.0000000
Total Notes & Certificates Pool Factor (End of Period) 0.7575324
Specified Reserve Account Balance (after distributions) "7,799,325.00 "
"Caterpillar Financial Asset Trust, 1997-B"
Statement for Certificateholders Pursuant to Section 5.07(a) Exhibit 99.4
Distribution Date:
( i ) Amount of principal being paid on Notes:
"(a) Class A-1 Notes, CUSIP NO 149114AR1 :" "16,732,936.33 "
" per $1,000 original principal amount:" 206.5794608
"(b) Class A-2 Notes, CUSIP NO 149114AS9:" 0.00
" per $1,000 original principal amount:" 0.0000000
"(c) Class A-3 Notes, CUSIP NO 149114AT7 :" 0.00
" per $1,000 original principal amount:" 0.0000000
"(d) Class B Notes, CUSIP NO 149114AU4 :" 0.00
" per $1,000 original principal amount:" 0.0000000
(e) Certificates: 0.00
" per $1,000 original principal amount:" 0.00000000
(f) Total: "16,732,936.33 "
(ii) Amount of interest being paid or distributed:
"(a) Class A-1 Notes, CUSIP NO 149114AR1 :" "762,989.36 "
" per $1,000 original principal amount:" 9.4196217
"(b) Class A-2 Notes, CUSIP NO 149114AS9 :" "1,112,327.00 "
" per $1,000 original principal amount:" 10.0300000
"(c) Class A-3 Notes, CUSIP NO 149114AT7:" "1,048,134.27 "
" per $1,000 original principal amount:" 10.2666667
"(d) Class B Notes, CUSIP NO 149114AU4:" "133,106.58 "
" per $1,000 original principal amount:" 10.5833333
(e) Certificates: "83,201.49 "
" per $1,000 original principal amount:" 10.58333333
(f) Total: "3,139,758.69 "
(iii) Pool Balance at end of related collection period: "298,018,547.12 "
(iv) After giving effect to distributions on this Distribution Date:
(a) (i) outstanding principal amount of Class A-1 Notes: "64,267,063.67 "
(ii) Class A-1 Note Pool Factor: 0.79342054
(b) (i) outstanding principal amount of Class A-2 Notes: "110,900,000.00 "
(ii) Class A-2 Note Pool Factor: 1.00000000
(c) (i) outstanding principal amount of Class A-3 Notes: "102,091,000.00 "
(ii) Class A-3 Note Pool Factor: 1.00000000
(d) (i) outstanding principal amount of Class B Notes: "12,577,000.00 "
(ii) Class B Note Pool Factor: 1.00000000
(e) (i) Certificate Balance: "7,861,558.00 "
(ii) Certificate Pool Factor: 1.00000000
(v) Amount of Servicing Fee paid: "518,519.23 "
(vi) Amount of Administration Fee paid: "1,000.00 "
(vii) Aggregate Purchase Amounts for Collection Period: 0.00
(viii) Aggregate Amount of Realized Losses 0.00
(ix) Balance of the Reserve Account at end of
related collection period: "7,074,665.00 "
(x) Specified Reserve Account Balance at end of
related collection period: "7,074,665.00 "
(x) Yield Supplement Account balance at end of
related collection period: "645,135.15 "
(xi) Class A Noteholders Distributable Amount
(a) Interest "2,923,450.62 "
(b) Principal "16,732,936.33 "
(c) amount of the above to be withdrawn from the Reserve and
deposited into the Class A Note Distribution Account pursuant to
Section 5.05 (c ) 0.00
(d) Total
"19,656,386.95 "
(xii) Class B Noteholders Distributable Amount
(a) Interest "133,106.58 "
(b) Principal 0.00
(c) amount of the above to be withdrawn from the Reserve and
deposited into the ClassB Note Distribution Account pursuant to
Section 5.05 (d) 0.00
(d) Total "133,106.58 "
(xiii) Certificateholder's Distributable Amount
(a) Interest "83,201.49 "
(b) Principal 0.00
( c) Total
"83,201.49 "
"Caterpillar Financial Asset Trust, 1997-B"
Statement for Noteholders pursuant to Section 5.07(b) Exhibit 99.5
Distribution Date:
( i ) Amount of principal being paid on Notes:
"(a) Class A-1 Notes, CUSIP NO 149114AR1 :" "16,732,936.33 "
" per $1,000 original principal amount:" 206.57946083
"(b) Class A-2 Notes, CUSIP NO 149114AS9 :" 0.00
" per $1,000 original principal amount:" 0.00000000
"(c) Class A-3 Notes, CUSIP NO 149114AT7 :" 0.00
" per $1,000 original principal amount:" 0.00000000
"(d) Class B Notes, CUSIP NO 149114AU4:" 0.00
" per $1,000 original principal amount:" 0.00000000
(e) Total: "16,732,936.33 "
(ii) Amount of interest being paid or distributed:
"(a) Class A-1 Notes, CUSIP NO 149114AR1 :" "762,989.36 "
" per $1,000 original principal amount:" 9.41962168
"(b) Class A-2 Notes, CUSIP NO149114AS9 :" "1,112,327.00 "
" per $1,000 original principal amount:" 10.03000000
"(c) Class A-3 Notes, CUSIP NO 149114AT7 :" "1,048,134.27 "
" per $1,000 original principal amount:" 10.26666667
"(d) Class B Notes, CUSIP NO 149114AU4:" "133,106.58 "
" per $1,000 original principal amount:" 10.58333333
(e) Total: "3,056,557.21 "
(iii) Pool Balance at end of related collection period: "298,018,547.12 "
(iv) After giving effect to distributions on this Distribution Date:
(a) (i) outstanding principal amount of Class A-1 Notes: "64,267,063.67 "
(ii) Class A-1 Note Pool Factor: 0.7934205
(b) (i) outstanding principal amount of Class A-2 Notes: "110,900,000.00 "
(ii) Class A-2 Note Pool Factor: 1.0000000
(c) (i) outstanding principal amount of Class A-3 Notes: "102,091,000.00 "
(ii) Class A-3 Note Pool Factor: 1.0000000
(d) (i) outstanding principal amount of Class A-3 Notes: "12,577,000.00 "
(ii) Class B Note Pool Factor: 1.0000000
(e) (i) Certificate Balance: "7,861,558.00 "
(ii) Certificate Pool Factor: 1.0000000
(v) Amount of Servicing Fee paid: "518,519.23 "
(vi) Amount of Administration Fee paid: "1,000.00 "
(vii) Aggregate Purchase Amounts for Collection Period: 0.00
(viii) Aggregate Amount of Realized Losses 0.00
(ix) Balance of the Reserve Account at end of
related collection period: "7,074,665.00 "
(x) Specified Reserve Account Balance at end of
related collection period: "7,074,665.00 "
(xi) Class A Noteholders Distributable Amount
(a) Interest "2,923,450.62 "
(b) Principal "16,732,936.33 "
(c) amount of the above to be withdrawn from the Reserve and
deposited into the Class A Note Distribution Account pursuant to
Section 5.05 (c ) 0.00
(d) Total
"19,656,386.95 "
(xii) Class B Noteholders Distributable Amount
(a) Interest "133,106.58 "
(b) Principal 0.00
(c) amount of the above to be withdrawn from the Reserve and
deposited into the ClassB Note Distribution Account pursuant to
Section 5.05 (d) 0.00
(d) Total "133,106.58 "
(xiii) Certificateholder's Distributable Amount
(a) Interest "83,201.49 "
(b) Principal 0.00
( c) Total "83,201.49 "
(xiv) Yield Supplement Account balance at end of
related collection period: "645,135.15 "
(xv) Specified (Maximum) Yield Supplement Amount for such Distribution Date
"645,135.15 "
"Caterpillar Financial Asset Trust, 1997-B" Exhibit 99.6
"$ 81,000,000 Class A-1 5.805% Asset Backed Notes (CUSIP NO 149114AR1)"
"$110,900,000 Class A-2 6.018% Asset Backed Notes (CUSIP NO 149114AS9)"
"$102,091,000 Class A-3 6.16% Asset Backed Notes (CUSIP NO 149114AT7)"
"$ 12,577,000 Class B 6.35% Asset Backed Notes (CUSIP NO149114AU4) )"
"$ 7,861,558 6.35% Asset Backed Certificates "
Servicing Certificate/Statement to Noteholders and Certificateholders
Distribution Date
Collection Period Month Begin Year-End Statement
Collection Period Month End as of 12/31/97
Original Pool Balance "314,429,558.18 "
Beginning Pool Balance "314,429,558.18 "
Ending Pool Balance "298,018,547.12 "
Total Interest Collections "3,865,987.60 "
Deposit from Yield Supplement Account "70,677.13 "
Total Principal Collections "16,411,011.06 "
Warranty Repurchases:
Contracts deferred beyond A-3 maturity date 0.00
Administrative Repurchases 0.00
Liquidation Proceeds 0.00
Reinvestment Income "44,538.46 "
TOTAL COLLECTIONS FOR THE COLLECTION PERIOD "20,392,214.25 "
Miscellaneous Data
Aggregate Scheduled Amounts 31 - 60 days past due "2,682,283.10 "
Aggregate Scheduled Amounts 61 days or more past due "633,361.56 "
Net Losses on Liquidated Receivables This Period 0.00
Number of Loans at Beginning of Period "3,568 "
Number of Loans at End of Period "3,535 "
Repossessed Equipment not Sold or Reassigned (Beginning) 0.00
Repossessed Equipment not Sold or Reassigned (End) "55,239.81 "
Calculation of Distributable Amounts
Original Class A-1 Principal Balance "81,000,000.00 "
Class A-1 Note Beginning Principal Balance "81,000,000.00 "
Class A-1 Noteholders' Principal Carryover Shortfall 0.00
A-1 Noteholders' share of the Principal Distribution Amount 100.00%
Class A-1 Noteholders' Principal Distributable Amount "16,411,011.06 "
Original Class A-2 Principal Balance "110,900,000.00 "
Class A-2 Note Beginning Principal Balance "110,900,000.00 "
A-2 Noteholders' Percentage 100.00%
Class A-2 Noteholders' Principal Carryover Shortfall 0.00
A-2 Noteholders' share of Principal Distribution Amount 0.00%
Class A-2 Noteholders' Principal Distributable Amount 0.00
Original Class A-3 Principal Balance "102,091,000.00 "
Class A-3 Note Beginning Principal Balance "102,091,000.00 "
A-3 Noteholders' Percentage 100.00%
Class A-3 Noteholders' Principal Carryover Shortfall 0.00
A-3 Noteholders' share of Principal Distribution Amount 0.00%
Class A-3 Noteholders' Principal Distributable Amount 0.00
Original Class B Principal Balance "12,577,000.00 "
Class B Note Beginning Principal Balance "12,577,000.00 "
B Noteholders' Percentage 100.00%
Class B Noteholders' Principal Carryover Shortfall 0.00
B Noteholders' share of Principal Distribution Amount 0.00%
Class B Noteholders' Principal Distributable Amount 0.00
Original Certificate Principal Balance "7,861,558.00 "
Certificate Beginning Principal Balance "7,861,558.00 "
Certificateholders' Principal Carryover Shortfall 0.00
Certificateholders' Principal Distributable Amount 0.00
Total Beginning Principal Balance of Notes and Certificates "314,429,558.00 "
Allocation of Total Distribution Amount (TDA)
Interest Distribution Amount (IDA) "3,981,203.19 "
Principal Distribution Amount (PDA) "16,411,011.06 "
Total Distribution Amount (TDA) "20,392,214.25 "
Administration Fee Shortfall (Beginning of Period) 0.00
Administration Fees Accrued during this Period "1,000.00 "
Administration Fees Paid this Period from TDA "1,000.00 "
Administration Fee Shortfall (End of Period Shortfall) 0.00
Total Distribution Amount Remaining "20,391,214.25 "
A-1 Noteholders' Interest Carryover Shortfall (Beginning) 0.00
Interest Due (in Arrears) on Above Beginning Shortfall 0.00
A-1 Noteholders' Prepayment Premium 0.00
A-1 Noteholders' Interest Distributable Amount 5.805% "762,989.36 "
A-1 Noteholders' Interest Paid this Period from TDA "762,989.36 "
Prelim. A-1 Noteholders' Interest Carryover Shortfall (End) 0.00
A-2 Noteholders' Interest Carryover Shortfall (Beginning) 0.00
Interest Due (in Arrears) on Above Beginning Shortfall 0.00
A-2 Noteholders' Prepayment Premium 0.00
A-2 Noteholders' Interest Distributable Amount 6.018% "1,112,327.00 "
A-2 Noteholders' Interest Paid this Period from TDA "1,112,327.00 "
Prelim. A-2 Noteholders' Interest Carryover Shortfall (End) 0.00
A-3 Noteholders' Interest Carryover Shortfall (Beginning) 0.00
Interest Due (in Arrears) on Above Beginning Shortfall 0.00
A-3 Noteholders' Prepayment Premium 0.00
A-3 Noteholders' Interest Distributable Amount 6.16% "1,048,134.27 "
A-3 Noteholders' Interest Paid this Period from TDA "1,048,134.27 "
Prelim. A-3 Noteholders' Interest Carryover Shortfall (End) 0.00
B Noteholders' Interest Carryover Shortfall (Beginning) 0.00
Interest Due (in Arrears) on Above Beginning Shortfall 0.00
B Noteholders' Prepayment Premium 0.00
B Noteholders' Interest Distributable Amount 6.35% "133,106.58 "
B Noteholders' Interest Paid this Period from TDA "133,106.58 "
Prelim. B Noteholders' Interest Carryover Shortfall (End) 0.00
Noteholders' Interest Carryover Shortfall (Beginning) 0.00
Interest Due (in Arrears) on Above Beginning Shortfall 0.00
Noteholders' Prepayment Premium 0.00
Noteholders' Interest Distributable Amount "3,056,557.21 "
Noteholders' Interest Paid this Period from TDA "3,056,557.21 "
Prelim. Noteholders' Interest Carryover Shortfall (End) 0.00
Total Distribution Amount Remaining "17,334,657.04 "
Class A-1 Noteholders' Principal Carryover Shortfall (Beginning) 0.00
A-1 Noteholders' Principal Distributable Amount this Period "16,411,011.06 "
A-1 Noteholders' Principal Paid this Period from TDA "16,411,011.06 "
Prelim. Class A-1 Noteholders' Principal Carryover Shortfall (End) 0.00
Total Distribution Amount Remaining "923,645.98 "
Class A-2 Noteholders' Principal Carryover Shortfall (Beginning) 0.00
A-2 Noteholders' Principal Distributable Amount this Period 0.00
A-2 Noteholders' Principal Paid this Period from TDA 0.00
Prelim. Class A-2 Noteholders' Principal Carryover Shortfall (End) 0.00
Total Distribution Amount Remaining "923,645.98 "
Class A-3 Noteholders' Principal Carryover Shortfall (Beginning) 0.00
A-3 Noteholders' Principal Distributable Amount this Period 0.00
A-3 Noteholders' Principal Paid this Period from TDA 0.00
Prelim. Class A-3 Noteholders' Principal Carryover Shortfall (End) 0.00
Total Distribution Amount Remaining "923,645.98 "
Class B Noteholders' Principal Carryover Shortfall (Beginning) 0.00
B Noteholders' Principal Distributable Amount this Period 0.00
B Noteholders' Principal Paid this Period from TDA 0.00
Prelim. Class B Noteholders' Principal Carryover Shortfall (End) 0.00
Total Distribution Amount Remaining "923,645.98 "
Servicing Fee Shortfall (Beginning of Period) 0.00
Servicing Fees Accrued during this Period 1.00% "518,519.23 "
Servicing Fees Paid this Period from TDA "518,519.23 "
Servicing Fee Shortfall (End of Period) 0.00
Total Distribution Amount Remaining "405,126.76 "
Specified Reserve Account Balance "7,074,655.00 "
Reserve Account Balance "7,074,655.00 "
Deposit to Reserve Account Balance 0.00
Total Distribution Amount Remaining "405,126.76 "
Certificateholders' Interest Carryover Shortfall (Beginning) 0.00
Interest Due (in Arrears) on Above Beginning Shortfall 0.00
Certificateholders' Prepayment Premium 0.00
Certificateholders' Earned Interest 6.35% "83,201.49 "
Certificateholders' Interest Paid this Period from TDA "83,201.49 "
Prelim. Certificateholders' Interest Carryover Shortfall (End) 0.00
Total Distribution Amount Remaining "321,925.27 "
Certificateholders' Principal Carryover Shortfall (Beginning) 0.00
Certificateholders' Principal Distributable Amount 0.00
Certificateholders' Principal Paid this Period from TDA 0.00
Prelim. Certificateholders' Principal Carryover Shortfall (End) 0.00
Total Distribution Amount Remaining "321,925.27 "
Distributions to/from Reserve Account
Reserve Account Balance at beginning of period "7,074,665.00 "
Deposit to Reserve Account from Excess Collections "321,925.27 "
Distribute from Reserve Account to Noteholders' Distr. Account 0.00
Adjustment to A-1 Interest Carryover Shortfall 0.00
Adjustment to A-2 Interest Carryover Shortfall 0.00
Adjustment to A-3 Interest Carryover Shortfall 0.00
Adjustment to B Interest Carryover Shortfall 0.00
Adjustment to A-1 Principal Carryover Shortfall 0.00
Adjustment to A-2 Principal Carryover Shortfall 0.00
Adjustment to A-3 Principal Carryover Shortfall 0.00
Adjustment to B Principal Carryover Shortfall 0.00
Reserve Account Balance Remaining "7,396,590.27 "
Class A-1 Note Principal Balance (End of Period-Prior to distibution of excess
reserve) "64,588,988.94 "
Class A-2 Note Principal Balance (End of Period- Prior to distribution of excess
reserve) "110,900,000.00 "
Class A-3 Note Principal Balance (End of Period- Prior to distribution of excess
reserve) "102,091,000.00 "
Class B Note Principal Balance (End of Period- Prior to distribution of excess
reserve) "12,577,000.00 "
Certificate Principal Balance (End of Period) "7,861,558.00 "
Total Principal Balance of Notes and Certificates "298,018,546.94 "
Specified Reserve Account Balance "7,074,665.00 "
Lesser of:
Outstanding Aggregate Principal Amount of the Notes "290,156,988.94 "
" $7,074,655 (2.25% of the Initial Pool Balance)" "7,074,655.00 "
Reserve Account Balance Remaining "7,396,590.27 "
Excess Reserve Account Balance "321,925.27 "
Release from Reserve Account to A-1 Noteholders as Principal "321,925.27 "
Release from Reserve Account to A-2 Noteholders as Principal 0.00
Release from Reserve Account to A-3 Noteholders as Principal 0.00
Release from Reserve Account to B Noteholders as Principal 0.00
Release from Reserve Account to Seller 0.00
Ending Reserve Account Balance (after distributions) "7,074,665.00 "
Net Change in Reserve Account Balance 0.00
Distributions to/from Yield Supplement Account
Yield Supplement Account Balance at beginning of period "715,911.00 "
Reinvestment Income on Yield Supplement Account "4,067.07 "
Deposit from Yield Supplement Account to Collection Account "70,677.13 "
Yield Supplement Account Balance Remaining "649,300.94 "
Specified Yield Supplement Account Balance (Maximum YSA) "645,135.15 "
Outstanding Aggregate Principal Amount of Discounted Receivables
"135,225,740.00 "
Required Rate 7.03%
Yield Supplement Account Balance Remaining "649,300.94 "
Excess Yield Supplement Account Balance "4,165.79 "
Release from Yield Supplement Account to Seller "4,165.79 "
Ending Yield Supplement Account Balance (after distributions) "645,135.15 "
Net Change in Yield Supplement Account Balance "(70,775.85)"
Ending Balances/Factors
Class A-1 Interest Carryover Shortfall (Ending Balance) 0.00
Class A-2 Interest Carryover Shortfall (Ending Balance) 0.00
Class A-3 Interest Carryover Shortfall (Ending Balance) 0.00
Class B Interest Carryover Shortfall (Ending Balance) 0.00
Noteholders' Interest Carryover Shortfall (Ending Balance) 0.00
Class A-1 Principal Carryover Shortfall (Ending Balance) 0.00
Class A-2 Principal Carryover Shortfall (Ending Balance) 0.00
Class A-3 Principal Carryover Shortfall (Ending Balance) 0.00
Class B Principal Carryover Shortfall (Ending Balance) 0.00
Certificateholders' Interest Carryover Shortfall (Ending Balance) 0.00
Certificateholders' Principal Carryover Shortfall (Ending Balance) 0.00
Class A-1 Note Principal Balance (End of Period) "64,267,063.67 "
Class A-2 Note Principal Balance (End of Period) "110,900,000.00 "
Class A-3 Note Principal Balance (End of Period) "102,091,000.00 "
Class B Note Principal Balance (End of Period) "12,577,000.00 "
Certificate Principal Balance (End of Period) "7,861,558.00 "
Total Principal Balance of Notes and Certificates "297,696,621.67 "
Class A-1 Note Pool Factor (End of Period) 0.7934205
Class A-2 Note Pool Factor (End of Period) 1.0000000
Class A-3 Note Pool Factor (End of Period) 1.0000000
Class B Note Pool Factor (End of Period) 1.0000000
Certificate Pool Factor (End of Period) 1.0000000
Total Notes & Certificates Pool Factor (End of Period) 0.9467832
Specified Reserve Account Balance (after distributions) "7,074,665.00 "
