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): October 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.
<PAGE>
Item 5. OTHER EVENTS
Attached hereto as Exhibit 99.1 is the Monthly Statement for
September 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 September 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 September 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 9/30/96
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)] 3,587,914.89
Less: Collections to reimburse Servicer Advances (749,193.51)
[4.7(c)(i)]
Less: Collections from Repurchased Leases or 0.00
Substituted Leases [4.7(c)(ii)]
Add: Servicer Advances [3.3] 742,404.37
Add: Investment Earnings 15,787.68
Available Amount 3,596,913.43
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 (53,874.39)
<C> <S> <C> <C>
(d) Class A Interest Arrearage 0.00 0.00
(e) Class A Interest Payment Amount (268,044.14) 268,044.14
(f) Class B Interest Arrearage 0.00 0.00
(g) Class B Interest Payment Amount (38,105.75) 38,105.75
(h) Class A Principal Payment Amount (2,957,853.36) 2,957,853.36
(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 (279,035.79) 279,035.79
to Class B Holders
(j) Class B Holders, if Restrcting Event exists 0.00 0.00
(k) Certificateholders (0.00)
Subtotal (3,596,913.43) 3,543,039.04
Distributions to Noteholders (3,543,039.04)
Ending Balance 0.00 0.00
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</TABLE>
TL Lease Funding Corp. IV
TLFC IV Equipment Lease Trust 1995-1
Monthly Statement
For the Collection Period ended 9/30/96
<TABLE>
SUBORDINATION AMOUNT
<S> <C>
Aggregate Discounted Lease Balance $61,301,222
(on the last day of the Collection Period)
Add: Available Amount less Servicing Fee, 279,036
Class A&B Interest Payment Amount and
Class A Principal Payment Amount
Less: Outstanding Class A Principal Balance (47,300,423)
(after current Payment Date)
Subordination Amount $14,297,835
Minimum Required Subordination Amount $4,590,968
Subordination Shortfall 0
RESTRICTING EVENT CALCULATIONS
(1) Average Aggregate Delinquencies-trailing 6 months 640,625
Average Aggregate Discounted Lease Balance - 69,779,128
Trailing 6 months
Delinquency Ratio .92%
Maximum Delinquency Ratio 2.00%
(2) Aggregate Discounted Lease Balance of Charged-off 1,139,596
Leases - trailing 6 months
Annualized Net Charge-offs 2,279,191
Average Aggregate Discounted Lease Balance - 69,779,128
Trailing 6 months
Charge-off Ratio 3.27%
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
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<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 $61,301,222
(on the last day of the Collection Period)
Less: Outstanding Class A Principal Balance ($50,258,276)
(on the last day of the Collection Period)
Substitution Subordination Amount $11,042,946
Greater of:
a) 17% of ADLB on the last day of the Collection $10,421,208
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 $3,363,945
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 9/30/96
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 $32.9900811
Interest Payment $2.9895998
CLASS B
Principal Payment $25.8312107
Interest Payment $3.5275678
Remaining outstanding principal balance, Class A $527.5598839
(per $1,000 of initial principal balance)
Remaining outstanding principal balance, Class B $534.8418338
(per $1,000 of initial principal balance)
Class A Pool Factor 52.7559884%
(remaining outstanding principal balance/initial
outstanding principal balance, after current payment)
Class B Pool Factor 53.4841834%
(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 61,301,222
ADLRB on the last day of the Collection Period 67,530,689
LOSS AND DELINQUENCY DATA
DLB of Defaulted Leases for the Collection Period $351,876.35
# of Defaulted Leases 28
DLB of Early Termination Leases for the Collection Period $166,700.53
# of Early Termination Leases 56
DLB of Repurchased Leases for the Collection Period $.00
# of Repurchased Leases 0
DLB of delinquent Leases (90 days delinquent) $532,650.27
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 9/30/96
<TABLE>
ADLB
PER AR AGING PERCENT
<S> <C> <C>
Current 58,945,886 95.98%
31-60 Days Past Due 1,211,022 1.97%
61-90 Days Past Due 722,038 1.18%
Over 90 Days Past Due 532,650 0.87%
Total $61,411,596 100.00%
</TABLE>
