World Omni Auto Receivables Trust 2023-C
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Monthly Servicer Certificate
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May 31, 2024
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Dates Covered
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Collections Period
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05/01/24 - 05/31/24
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Interest Accrual Period
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05/15/24 - 06/16/24
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30/360 Days
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30
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Actual/360 Days
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33
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Distribution Date
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06/17/24
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Collateral Pool Balance Data
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$ Amount
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# of Accounts
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Pool Balance at 04/30/24
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751,931,629.35
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35,667
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Yield Supplement Overcollateralization Amount 04/30/24
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75,427,513.91
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0
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Receivables Balance 04/30/24
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827,359,143.26
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35,667
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Principal Payments
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33,880,044.93
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725
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Defaulted Receivables
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908,124.67
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29
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Repurchased Accounts
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0.00
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0
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Yield Supplement Overcollateralization Amount at 05/31/24
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71,224,672.70
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0
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Pool Balance at 05/31/24
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721,346,300.96
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34,913
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Pool Statistics
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$ Amount
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# of Accounts
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Pool Factor
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68.12
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%
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Prepayment ABS Speed
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1.76
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%
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Aggregate Starting Principal Balance
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1,163,498,581.79
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43,008
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Delinquent Receivables:
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Past Due 31-60 days
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9,152,265.07
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338
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Past Due 61-90 days
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1,922,348.32
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84
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Past Due 91-120 days
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732,032.28
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29
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Past Due 121+ days
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0.00
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0
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Total
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11,806,645.67
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451
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Total 31+ Delinquent as % Aggregate Ending Principal Balance
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1.49
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%
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Total 61+ Delinquent as % Aggregate Ending Principal Balance
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0.33
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%
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Delinquency Trigger Occurred
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NO
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Recoveries
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1,003,079.27
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Aggregate Net Losses/(Gains) - May 2024
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(94,954.60
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Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
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Current Net Losses/(Gains) Ratio
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-0.14
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%
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Prior Net Losses/(Gains) Ratio
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0.31
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%
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Second Prior Net Losses/(Gains) Ratio
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0.82
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%
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Third Prior Net Losses/(Gains) Ratio
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0.58
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%
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Four Month Average
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0.39
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%
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Cumulative Net Loss as a % of Aggregate Starting Principal Balance
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0.30
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%
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Overcollateralization Target Amount
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8,295,482.46
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Actual Overcollateralization
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8,295,482.46
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Weighted Average Contract Rate
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5.96
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%
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Weighted Average Contract Rate, Yield Adjusted
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10.98
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%
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Weighted Average Remaining Term
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50.92
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Flow of Funds
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$ Amount
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Collections
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38,947,693.87
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Investment Earnings on Cash Accounts
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16,962.46
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Servicing Fee
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(689,465.95
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Transfer to Collection Account
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-
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Available Funds
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38,275,190.38
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Distributions of Available Funds
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(1) Asset Representation Reviewer Amounts (up to $150,000 per year)
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-
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(2) Class A Interest
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3,158,710.53
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(3) Noteholders' First Priority Principal Distributable Amount
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-
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(4) Class B Interest
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139,360.00
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(5) Noteholders' Second Priority Principal Distributable Amount
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6,288,114.65
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(6) Class C Interest
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71,859.58
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(7) Noteholders' Third Priority Principal Distributable Amount
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15,650,000.00
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(8) Required Reserve Account
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-
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(9) Noteholders' Principal Distributable Amount
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8,295,482.46
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(10) Asset Representation Reviewer Amounts (in excess of 1)
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-
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(11) Distribution to Certificateholders
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4,671,663.16
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Total Distributions of Available Funds
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38,275,190.38
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Servicing Fee
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689,465.95
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Unpaid Servicing Fee
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-
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Change in amount of the unpaid servicing fee from the prior period
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-
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Distribution per $1,000 of Notes
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Total
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Total Interest Distribution Amount
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3.2442167
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Total Interest Carryover Shortfall
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0.0000000
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Total Principal Distribution Amount
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29.1057493
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Total Distribution Amount
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32.3499660
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A-1 Interest Distribution Amount
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0.0000000
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A-1 Interest Carryover Shortfall
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0.0000000
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A-1 Principal Distribution Amount
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0.0000000
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Total A-1 Distribution Amount
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0.0000000
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A-2a Interest Distribution Amount
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3.6606052
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A-2a Interest Carryover Shortfall
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0.0000000
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A-2a Principal Distribution Amount
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80.5155715
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Total A-2a Distribution Amount
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84.1761767
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A-2b Interest Distribution Amount
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4.1450150
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A-2b Interest Carryover Shortfall
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0.0000000
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A-2b Principal Distribution Amount
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80.5155716
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Total A-2b Distribution Amount
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84.6605866
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A-3 Interest Distribution Amount
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4.2916667
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A-3 Interest Carryover Shortfall
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0.0000000
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A-3 Principal Distribution Amount
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0.0000000
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Total A-3 Distribution Amount
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4.2916667
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A-4 Interest Distribution Amount
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4.1916667
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A-4 Interest Carryover Shortfall
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0.0000000
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A-4 Principal Distribution Amount
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0.0000000
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Total A-4 Distribution Amount
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4.1916667
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B Interest Distribution Amount
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4.4666667
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B Interest Carryover Shortfall
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0.0000000
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B Principal Distribution Amount
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0.0000000
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Total B Distribution Amount
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4.4666667
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C Interest Distribution Amount
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4.5916665
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C Interest Carryover Shortfall
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0.0000000
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C Principal Distribution Amount
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0.0000000
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Total C Distribution Amount
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4.5916665
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Noteholders' First Priority Principal Distributable Amount
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0.00
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Noteholders' Second Priority Principal Distributable Amount
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207.98
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Noteholders' Third Priority Principal Distributable Amount
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517.64
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Noteholders' Principal Distributable Amount
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274.38
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Account Balances
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$ Amount
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Reserve Account
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Balance as of 05/15/24
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2,603,351.22
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Investment Earnings
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11,597.33
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Investment Earnings Paid
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(11,597.33
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Deposit/(Withdrawal)
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-
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Balance as of 06/17/24
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2,603,351.22
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Change
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-
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Required Reserve Amount
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2,603,351.22
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Other Servicing Information
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Current Month
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Prior Month
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Two Months Prior
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Principal Balance of Receivables extended during the Collection Period
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$
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4,494,313.49
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5,333,191.96
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4,901,671.64
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Number of Extensions
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157
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170
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157
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Ratio of extensions to Beginning of Period Receivables Balance
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0.54
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%
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0.62
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%
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0.55
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%
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