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Nissan Auto Lease Trust 2024-A

11/22/2024 | Press release | Distributed by Public on 11/22/2024 14:27

Asset Backed Issuer Distribution Report Form 10 D

NISSAN AUTO LEASE TRUST 2024-A

Servicer's Report


Collection Period Start	1-Oct-24	Distribution Date	15-Nov-24
Collection Period End	31-Oct-24	30/360 Days	30
Beg. of Interest Period	15-Oct-24	Actual/360 Days	31
End of Interest Period	15-Nov-24


SUMMARY

	Coupon Rate			Initial Balance		Beginning Balance	Ending Balance		Pool Factor
Total Portfolio			1,560,158,172.56			1,358,871,337.40		1,333,472,834.86			0.8547036
Total Securities			1,560,158,172.56			1,358,871,337.40		1,333,472,834.86			0.8547036
Class A-1 Notes		5.502000	%		150,000,000.00		0.00			0.00		0.0000000
Class A-2a Notes		5.110000	%		262,000,000.00		236,356,582.42			223,657,331.15		0.8536539
Class A-2b Notes		5.509810	%		262,000,000.00		236,356,582.42			223,657,331.15		0.8536539
Class A-3 Notes		4.910000	%		460,000,000.00		460,000,000.00			460,000,000.00		1.0000000
Class A-4 Notes		4.970000	%		75,120,000.00		75,120,000.00			75,120,000.00		1.0000000
Certificates		0.000000	%		351,038,172.56		351,038,172.56			351,038,172.56		1.0000000

	Principal Payment Due			Interest Payment		Principal per $1000 Face Amount	Interest per $1000 Face Amount
Class A-1 Notes		0.00			0.00		0.0000000			0.0000000
Class A-2a Notes		12,699,251.27			1,006,485.11		48.4704247			3.8415462
Class A-2b Notes		12,699,251.27			1,121,407.66		48.4704247			4.2801819
Class A-3 Notes		0.00			1,882,166.67		0.0000000			4.0916667
Class A-4 Notes		0.00			311,122.00		0.0000000			4.1416667
Certificates		0.00			0.00		0.0000000			0.0000000
Total Securities		25,398,502.54			4,321,181.44


I. COLLECTIONS

Lease Payments: ( Lease Series Assets)
Monthly Principal						13,599,310.22
Monthly Interest						10,845,572.03

Total Monthly Payments						24,444,882.25
Interest Rate Cap Payments						0.00
Advances:
Aggregate Monthly Payment Advances					695,130.78
Aggregate Sales Proceeds Advance					1,616,732.44

Total Advances						2,311,863.22
Vehicle Disposition Proceeds:
Repurchase Payments						0.00
Recoveries						0.00
Net Liquidation Proceeds (includes Reallocation Payments and Net Auction Proceeds)						7,467,958.16
Excess Wear and Tear and Excess Mileage					5,109.34
Remaining Payoffs						0.00
Net Insurance Proceeds						1,067,491.13
Residual Value Surplus						10,177.02

Total Collections						35,307,481.12

Vehicle Disposition Activity for the current month - Terminated and Sold (included in Vehicle Disposition Proceeds)		Reallocation Payments and Net Auction Proceeds			Net Insurance Sales			Lease Payoffs			Count
Early Termination			792,651.00						32
Involuntary Repossession			515,581.00						22
Voluntary Repossession			516,647.00						21
Full Termination			-						-
Bankruptcty			-						-
Insurance Payoff				1,050,158.34					43
Customer Payoff					183,482.32				6
Grounding Dealer Payoff					5,233,732.43				161
Dealer Purchase					-				-

Total			1,824,879.00				1,050,158.34				5,417,214.75			285

II. COLLATERAL POOL BALANCE DATA

	Number			Book Amount			Discount Rate			Securitization Value
Pool Balance - Beginning of Period		47,975				1,562,501,410.34				7.00000	%		1,358,871,337.40
Total Depreciation Received			(13,700,918.06	)				(16,410,111.86	)
Principal Amount of Gross Losses		(88	)			(2,710,504.91	)				(2,459,255.58	)
Repurchase / Reallocation		0				0.00					0.00
Early Terminations		(26	)			(815,518.55	)				(695,087.74	)
Scheduled Terminations		(215	)			(6,544,757.46	)				(5,834,047.36	)

Pool Balance - End of Period		47,646				1,538,729,711.36					1,333,472,834.86
Remaining Pool Balance
Lease Payment					429,143,235.10
Residual Value					904,329,599.76

Total					1,333,472,834.86

NISSAN AUTO LEASE TRUST 2024-A

Servicer's Report


III. DISTRIBUTIONS

Total Collections			35,307,481.12
Reserve Amounts Available for Distribution			0.00

Total Available for Distribution			35,307,481.12
1. Amounts due Indenture Trustee as Compensation or Indemnity			0.00
2. Reimbursement of Payment Advance			758,366.24
3. Reimbursement of Sales Proceeds Advance			687,321.04
4. Servicing Fee:
Servicing Fee Due			1,132,392.78
Servicing Fee Paid			1,132,392.78
Servicing Fee Shortfall			0.00

Total Trustee, Advances and Servicing Fee Paid			2,578,080.06
5. Interest:
Class A-1 Notes Monthly Interest
Class A-1 Notes Interest Carryover Shortfall			0.00
Class A-1 Notes Interest on Interest Carryover Shortfall			0.00
Class A-1 Notes Monthly Available Interest Distribution Amount			0.00
Class A-1 Notes Monthly Interest Paid			0.00
Chg in Class A-1 Notes Int. Carryover Shortfall			0.00
Class A-2a Notes Monthly Interest
Class A-2a Notes Interest Carryover Shortfall			0.00
Class A-2a Notes Interest on Interest Carryover Shortfall			0.00
Class A-2a Notes Monthly Available Interest Distribution Amount			1,006,485.11
Class A-2a Notes Monthly Interest Paid			1,006,485.11
Chg in Class A-2a Notes Int. Carryover Shortfall			0.00
Class A-2b Notes Monthly Interest
Class A-2b Notes Interest Carryover Shortfall			0.00
Class A-2b Notes Interest on Interest Carryover Shortfall			0.00
Class A-2b Notes Monthly Available Interest Distribution Amount			1,121,407.66
Class A-2b Notes Monthly Interest Paid			1,121,407.66
Chg in Class A-2b Notes Int. Carryover Shortfall			0.00
Class A-3 Notes Monthly Interest
Class A-3 Notes Interest Carryover Shortfall			0.00
Class A-3 Notes Interest on Interest Carryover Shortfall			0.00
Class A-3 Notes Monthly Available Interest Distribution Amount			1,882,166.67
Class A-3 Notes Monthly Interest Paid			1,882,166.67
Chg in Class A-3 Notes Int. Carryover Shortfall			0.00
Class A-4 Monthly Interest
Class A-4 Notes Interest Carryover Shortfall			0.00
Class A-4 Notes Interest on Interest Carryover Shortfall			0.00
Class A-4 Notes Monthly Available Interest Distribution Amount			311,122.00
Class A-4 Notes Monthly Interest Paid			311,122.00
Chg in Class A-4 Notes Int. Carryover Shortfall			0.00
Certificate Monthly Interest
Certificate Interest Carryover Shortfall			0.00
Certificate Interest on Interest Carryover Shortfall			0.00
Certificate Monthly Available Interest Distribution Amount			0.00
Certificate Monthly Interest Paid			0.00
Chg in Certificate Int. Carryover Shortfall			0.00
Total Note and Certificate Monthly Interest
Total Note and Certificate Monthly Interest Due			4,321,181.44
Total Note and Certificate Monthly Interest Paid			4,321,181.44
Total Note and Certificate Interest Carryover Shortfall			0.00
Chg in Total Note and Certificate Int. Carryover Shortfall			0.00
Total Available for Principal Distribution			28,408,219.62
6. Total Monthly Principal Paid on the Notes
Total Monthly Principal Paid on the Class A Notes			25,398,502.54
Total Class A Noteholders' Principal Carryover Shortfall			0.00
Total Class A Noteholders' Principal Distributable Amount			25,398,502.54
Chg in Total Class A Noteholders' Principal Carryover Shortfall			0.00
7. Total Monthly Principal Paid on the Certificates			0.00
Total Certificateholders' Principal Carryover Shortfall			0.00
Total Certificateholders' Principal Distributable Amount			0.00
Chg in Total Certificateholders' Principal Carryover Shortfall			0.00
Remaining Available Collections			3,009,717.08

NISSAN AUTO LEASE TRUST 2024-A

Servicer's Report


IV. RESERVE ACCOUNT

Initial Reserve Account Amount				6,240,632.69
Required Reserve Account Amount				10,141,028.12
Beginning Reserve Account Balance				10,141,028.12
Additional Cash Infusion				0.00
Reinvestment Income for the Period				0.00
Reserve Fund Available for Distribution				10,141,028.12
Reserve Fund Draw Amount				0.00
Deposit of Remaining Available Collections				3,009,717.08
Gross Reserve Account Balance				13,150,745.20
Remaining Available Collections Released to Seller				3,009,717.08
Total Ending Reserve Account Balance				10,141,028.12

V. POOL STATISTICS

Weighted Average Remaining Maturity				18.90
Monthly Prepayment Speed				50	%
Lifetime Prepayment Speed				35	%

				$			units
Recoveries of Defaulted and Casualty Receivables			2,187,795.75
Securitization Value of Defaulted Receivables and Casualty Receivables			2,459,255.58				88
Aggregate Defaulted and Casualty Gain (Loss)			(271,459.83	)
Pool Balance at Beginning of Collection Period			1,358,871,337.40
Net Loss Ratio
Current Collection Period			-0.0200	%
Preceding Collection Period			-0.0216	%
Second Preceding Collection Period			0.0090	%
Third Preceding Collection Period			-0.0718	%
Cumulative Net Losses for all Periods			0.2035	%			3,174,861.34

	% of BOP Pool Balance			Amount			Number
Delinquent Receivables:
31-60 Days Delinquent		0.77	%			10,494,485.42			354
61-90 Days Delinquent		0.14	%			1,906,195.74			62
91-120 Days Delinquent		0.05	%			644,432.98			22
More than 120 Days		0.00	%			65,903.79			2

Total Delinquent Receivables:		0.96	%			13,111,017.93			440

				Amount			Number
61+ Days Delinquencies as Percentage of Receivables
Current Collection Period			0.19	%			0.18	%
Preceding Collection Period			0.20	%			0.18	%
Second Preceding Collection Period			0.22	%			0.22	%
Third Preceding Collection Period			0.19	%			0.18	%
60 Day Delinquent Receivables			3,245,272.53
Delinquency Percentage			0.24	%
Delinquency Trigger			4.40	%
Does the Delinquency Percentage exceed the Delinquency Trigger?			No

				$			units
Aggregate Sales Performance of Auctioned Vehicles
Sales Proceeds			792,651.00				32
Securitization Value			877,830.39				32

Aggregate Residual Value Surplus (Loss)			(85,179.39	)

				$			units
Cumulative Sales Performance of Auctioned Vehicles
Cumulative Sales Proceeds			4,679,263.62				185
Cumulative Securitization Value			5,303,542.84				185

Cumulative Residual Value Surplus (Loss)			(624,279.22	)


VI. RECONCILIATION OF ADVANCES

Beginning Balance of Residual Advance				1,131,420.55
Reimbursement of Outstanding Advance				687,321.04
Additional Advances for current period				1,616,732.44

Ending Balance of Residual Advance				2,060,831.95

Beginning Balance of Payment Advance				2,160,826.05
Reimbursement of Outstanding Payment Advance				758,366.24
Additional Payment Advances for current period				695,130.78

Ending Balance of Payment Advance				2,097,590.59

NISSAN AUTO LEASE TRUST 2024-A

Servicer's Report



VII. STATEMENTS TO NOTEHOLDERS

1. Has there been any material change in practices with respect to charge- offs, collection and management of delinquent Leases, and the effect of any grace period, re-aging, re-structuring, partial payments or other practices on delinquency and loss experience?				NO

2. Have there been any material modifications, extensions or waivers to Lease terms, fees, penalties or payments during the Collection Period?				NO

3. Have there been any material breaches of representations, warranties or covenants contained in the Leases?				NO

4. Has there been any new issuance of notes or other securities backed by the Series Assets Assets?				NO

5. Has there been any material additions, removals or substitutions of Series Assets Assets, or repurchases of Series Assets Assets?				NO

6. Has there been any material change in the underwriting, origination or acquisition of Leases?				NO

VIII. CREDIT RISK RETENTION

On the Closing Date, Nissan Auto Leasing LLC II, the depositor, an affiliate of Nissan Motor Acceptance Company LLC ("NMAC"), the sponsor, retained a sufficient portion of the Certificates to satisfy the obligations of NMAC under the requirements of (a) the SEC's credit risk retention rules codified at 17 C.F.R. Part 246 ("Regulation RR") and (b) the EU Risk Retention Requirements and the UK Risk Retention Requirements (each as defined in the preliminary prospectus for the Notes dated January 9, 2024 (the "Preliminary Prospectus"). The portion of Certificates being retained to satisfy the EU Risk Retention Requirements and the UK Risk Retention Requirements is referred to herein as the "Retained Interest".

NMAC, as "originator" for the purposes of the EU Risk Retention Requirements and the UK Risk Retention Requirements, currently retains a material net economic interest that is not less than 5% in the securitization transaction described in the Preliminary Prospectus, in the form of retention of the first loss tranche in accordance with paragraph (d) of Article 6(3) of the EU Securitization Regulation and paragraph (d) of Article 6(3) of the UK Securitization Regulation (each as defined in the Preliminary Prospectus), in each case as in effect on the Closing Date, by holding all the membership interest in the depositor, which in turn holds Certificates representing at least 5% of the aggregate nominal value of the leases and related leased vehicles.

NMAC has not sold, hedged or otherwise mitigated its credit risk under or associated with the Retained Interest (and has not permitted the depositor or any of its other affiliates to sell, hedge or otherwise mitigate its credit risk under or associated with the Retained Interest) except to the extent permitted in accordance with the EU Risk Retention Requirements and the UK Risk Retention Requirements or Regulation RR.

NMAC has not changed the manner in which it retains the Retained Interest, except in accordance with the EU Risk Retention Requirements and the UK Risk Retention Requirements or Regulation RR.

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