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): November 15, 1996
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 October
1996 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 October 1996 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: June 26, 1997
EXHIBIT INDEX
Exhibit No. Description Page No.
99.1 Monthly Statement for October 1996 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 10/31/96
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)] 3,931,041.82
Less: Collections to reimburse Servicer Advances (717,487.39)
[4.7(c)(i)]
Less: Collections from Repurchased Leases or 0.00
Substituted Leases [4.7(c)(ii)]
Add: Servicer Advances [3.3] 647,359.22
Add: Investment Earnings 13,093.51
Available Amount 3,874,007.16
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 (51,084.35)
<C> <S> <C> <C>
(d) Class A Interest Arrearage 0.00 0.00
(e) Class A Interest Payment Amount (252,268.92) 252,268.92
(f) Class B Interest Arrearage 0.00 0.00
(g) Class B Interest Payment Amount (36,350.15) 36,350.15
(h) Class A Principal Payment Amount (3,008,218.91) 3,008,218.91
(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 0.00 0.00
Restricting Event exists
3) if no Restricting Event, remainder (439,566.75) 439,566.75
to Class B Holders
(j) Class B Holders, if Restrcting Event exists 0.00 0.00
(k) Certificateholders (86,518.08)
Subtotal (3,874,007.16) 3,736,404.73
Distributions to Noteholders (3,736,404.73)
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 10/31/96
<TABLE>
SUBORDINATION AMOUNT
<S> <C>
Aggregate Discounted Lease Balance $57,835,623
(on the last day of the Collection Period)
Add: Available Amount less Servicing Fee, 526,085
Class A&B Interest Payment Amount and
Class A Principal Payment Amount
Less: Outstanding Class A Principal Balance (44,292,204)
(after current Payment Date)
Subordination Amount $14,069,504
Minimum Required Subordination Amount $4,590,968
Subordination Shortfall 0
RESTRICTING EVENT CALCULATIONS
(1) Average Aggregate Delinquencies-trailing 6 months 628,791
Average Aggregate Discounted Lease Balance - 66,330,538
Trailing 6 months
Delinquency Ratio .95%
Maximum Delinquency Ratio 2.00%
(2) Aggregate Discounted Lease Balance of Charged-off 1,199,006
Leases - trailing 6 months
Annualized Net Charge-offs 2,398,013
Average Aggregate Discounted Lease Balance - 66,330,538
Trailing 6 months
Charge-off Ratio 3.62%
Maximum Charge-off Ratio 5.00%
Restricting Event NO
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 $0
Substitituted for Leases
Maximum ADLB of substituted Leases $10,802,273
(10% of ADLB at Closing Date)
(4) Aggregate Discounted Lease Balance $57,835,623
(on the last day of the Collection Period)
Less: Outstanding Class A Principal Balance ($47,300,423)
(on the last day of the Collection Period)
Substitution Subordination Amount $10,535,201
Greater of:
a) 17% of ADLB on the last day of the Collection $9,832,056
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 $3,773,917
Become Early Termination 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 10/31/96
PAYMENTS ON CLASS A & B SECURITIES (PER $1,000 OF INITIAL PRINCIPAL
BALANCE, PER PAGE 35 & 26 OF PROSPECTUS)
<TABLE>
CLASS A
<S> <C>
Principal Payment $33.5518275
Interest Payment $2.8136527
CLASS B
Principal Payment $40.6920608
Interest Payment $3.3650464
Remaining outstanding principal balance, Class A $494.0080564
(per $1,000 of initial principal balance)
Remaining outstanding principal balance, Class B $494.1497729
(per $1,000 of initial principal balance)
Class A Pool Factor 49.4008056%
(remaining outstanding principal balance/initial
outstanding principal balance, after current payment)
Class B Pool Factor 49.4149773%
(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 57,835,623
ADLRB on the last day of the Collection Period 63,916,274
LOSS AND DELINQUENCY DATA
DLB of Defaulted Leases for the Collection Period $261,768.59
# of Defaulted Leases 34
DLB of Early Termination Leases for the Collection Period $409,971.69
# of Early Termination Leases 58
DLB of Repurchased Leases for the Collection Period $.00
# of Repurchased Leases 0
DLB of delinquent Leases (90 days delinquent) $627,476.88
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 10/31/96
<TABLE>
ADLB
PER AR AGING PERCENT
<S> <C> <C>
Current 55,084,693 95.06%
31-60 Days Past Due 1,584,814 2.73%
61-90 Days Past Due 649,585 1.12%
Over 90 Days Past Due 627,477 1.08%
Total $57,946,569 100.00%
</TABLE>
