SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): July 15, 1997
TL LEASE FUNDING CORP. IV
(Exact Name of Registrant as Specified in Charter)
Delaware 33-95108 51-0366091
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number Identification
Number)
The Corporation Trust Company
1209 Orange Street
Wilmington, Delaware 19801
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (302) 658-7851
Page 1 of 8 sequentially-numbered pages.
Exhibit Index appears on page 4.
Item 5. OTHER EVENTS
Attached hereto as Exhibit 99.1 is the Monthly Statement for June
1997 with respect to TLFC IV Equipment Lease Trust 1995-1, a Delaware business
trust (the "Trust"), which isssued $89,658,869 aggregate principal amount of
its Class A 6.40% Equipment Lease Backed Notes and $10,802,273 aggregate
principal amount of its Class B 7.55% Equipment Lease Backed Notes pursuant to
an Indenture, dated as of October 6, 1995, between the Trust and Manufacturers
and Traders Trust Company, as indenture trustee.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibits:
99.1 Monthly Statement for June 1997 with respect to TLFC IV
Equipment Lease Trust 1995-1.
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.
TL LEASE FUNDING CORP. IV
By: /s/ Stephen Hupp
Name: Stephen Hupp
Title: Vice President - Finance
Dated: July 22, 1997
EXHIBIT INDEX
Exhibit No. Description Page No.
99.1 Monthly Statement for June 1997 with respect
to TLFC IV Equipment Lease Trust 1995-1 5
<PAGE>
TL Lease Funding Corp. IV
TLFC IV Equipment Lease Trust 1995-1
Monthly Statement
For the Collection Period ended 6/30/97
NOTE
COLLECTION DISTRIBUTION
ACCOUNT ACCOUNT
<TABLE>
<S> <C>
Beginning Balance $0.00
Deposit of Collections and Other Amounts
Collections during the Collection Period [4.7(b)] 2,279,623.50
Less: Collections to reimburse Servicer Advances (551,729.27)
[4.7(c)(i)]
Less: Collections from Repurchased Leases or 0.00
Substituted Leases [4.7(c)(ii)]
Add: Servicer Advances [3.3] 614,460.51
Add: Investment Earnings 10,686.75
Available Amount 2,353,041.49
Payments on Payment Date [4.8]
(a) Unreimbursed Servicer Advances to the Servicer 0.00
(when deemed by Servicer to be uncollectible)
(b) Servicing Fee Arrearage to the Servicer 0.00
(c) Servicing Fee to the Servicer (33,426.29)
<C> <S> <C> <C>
(d) Class A Interest Arrearage 0.00 0.00
(e) Class A Interest Payment Amount (147,795.79) 147,795.79
(f) Class B Interest Arrearage 0.00 0.00
(g) Class B Interest Payment Amount (26,626.47) 26,626.47
(h) Class A Principal Payment Amount (1,834,060.54) 1,834,060.54
(i) Class B Principal Payment Amount as follows:
1) to Class A Holders to extent of 0.00 0.00
Subordination Shortfall
2) remainder to Class A Holders if (311,132.40) 311,132.40
Restricting Event exists
3) if no Restricting Event, remainder 0.00 0.00
to Class B Holders
(j) Class B Holders, if Restrcting Event exists 0.00 0.00
(k) Certificateholders 0.00
Subtotal (2,353,041.49) 2,319,615.20
Distributions to Noteholders (2,319,615.20)
Ending Balance 0.00 0.00
<PAGE>
</TABLE>
TL Lease Funding Corp. IV
TLFC IV Equipment Lease Trust 1995-1
Monthly Statement
For the Collection Period ended 6/30/97
<TABLE>
SUBORDINATION AMOUNT
<S> <C>
Aggregate Discounted Lease Balance $38,085,478
(on the last day of the Collection Period)
Add: Available Amount less Servicing Fee, (0)
Class A&B Interest Payment Amount and
Class A Principal Payment Amount
Less: Outstanding Class A Principal Balance (25,566,518)
(after current Payment Date)
Subordination Amount $12,518,960
Minimum Required Subordination Amount $4,590,968
Subordination Shortfall 0
RESTRICTING EVENT CALCULATIONS
(1) Average Aggregate Delinquencies-trailing 6 months 612,219
Average Aggregate Discounted Lease Balance - 43,825,479
Trailing 6 months
Delinquency Ratio 1.40%
Maximum Delinquency Ratio 2.00%
(2) Aggregate Discounted Lease Balance of Charged-off 1,132,051
Leases - trailing 6 months
Annualized Net Charge-offs 2,264,103
Average Aggregate Discounted Lease Balance - 43,825,479
Trailing 6 months
Charge-off Ratio 5.17%
Maximum Charge-off Ratio 5.00%
Restricting Event YES
SUBSTITUTION CALCULATIONS (SECTION 5.1)
(1) Cumulative Discounted Lease Balance of Leases $0
substituted for Leases subject to Defaulted Leases
<PAGE>
<S> <C>
Maximum ADLB of substituted Leases $6,481,364
(6% of ADLB at Closing Date)
(2) Cumulative Discounted Lease Balance of Leases $0
Substituted for Leases subject to Warranty Event
Maximum ADLB of substituted Leases $5,401,137
(5% of ADLB at Closing Date)
(3) Cumulative Discounted Lease Balance of Leases $2,134,730
Substitituted for Leases
Maximum ADLB of substituted Leases $10,802,273
(10% of ADLB at Closing Date)
(4) Aggregate Discounted Lease Balance $38,085,478
(on the last day of the Collection Period)
Less: Outstanding Class A Principal Balance ($27,711,711)
(on the last day of the Collection Period)
Substitution Subordination Amount $10,373,767
Greater of:
a) 17% of ADLB on the last day of the Collection $6,474,531
Period
b) Minimum Required Subordination Amount $4,590,968
If substitution subordination amount does not
exceed the Greater of (a) and (b),there can
be no substitutions for Early Termination
Leases or Warranty Events
EARLY TERMINATION LEASES (Section 3.2(b))
Aggregate principal amount of all Leases which have $5,381,161
Become Early Termination Leases
Less: Cumulative Discounted Lease Balance of leases ($2,134,730)
substituted for Early Termination Leases
Net Aggregate Discounted Lease Balance of Early Termination $3,246,431
Leases
Maximum Early Termination Leases $3,448,849
(3% of ADLRB at Cut-Off Date)
<PAGE>
</TABLE>
TL Lease Funding Corp. IV
TLFC IV Equipment Lease Trust 1995-1
Monthly Statement
For the Collection Period ended 6/30/97
PAYMENTS ON CLASS A & B SECURITIES (PER $1,000 OF INITIAL PRINCIPAL
BALANCE, PER PAGE 35 & 36 OF PROSPECTUS)
<TABLE>
CLASS A
<S> <C>
Principal Payment $23.9261655
Interest Payment $1.6484235
CLASS B
Principal Payment $0.0000000
Interest Payment $2.4648951
Remaining outstanding principal balance, Class A $285.1532509
(per $1,000 of initial principal balance)
Remaining outstanding principal balance, Class B $391.7714457
(per $1,000 of initial principal balance)
Class A Pool Factor 28.5153251%
(remaining outstanding principal balance/initial
outstanding principal balance, after current payment)
Class B Pool Factor 39.1771446%
(remaining outstanding principal balance/initial
outstanding principal balance, after current payment)
DISCOUNTED LEASE AND RESIDUAL DATA
ADLB on the last day of the Collection Period 38,085,478
ADLRB on the last day of the Collection Period 43,172,316
LOSS AND DELINQUENCY DATA
DLB of Defaulted Leases for the Collection Period $96,416
# of Defaulted Leases 17
DLB of Early Termination Leases for the Collection Period $219,537
# of Early Termination Leases 50
DLB of Repurchased Leases for the Collection Period $0
# of Repurchased Leases 0
DLB of delinquent Leases (90 days delinquent) $711,362
for the Collection Period
<PAGE>
</TABLE>
TL Lease Funding Corp. IV
TLFC IV Equipment Lease Trust 1995-1
Monthly Statement
For the Collection Period ended 6/30/97
<TABLE>
ADLB
PER AR AGING PERCENT
<S> <C> <C>
Current 35,597,310 93.47%
31-60 Days Past Due 1,213,938 3.19%
61-90 Days Past Due 562,868 1.48%
Over 90 Days Past Due 711,362 1.87%
Total $38,085,478 100.00%
</TABLE>
