08/05/2024 | Press release | Distributed by Public on 08/05/2024 12:31
Collection Period Ending: |
6/30/24
|
Previous Payment Date:
|
6/25/24
|
Current Payment Date:
|
7/25/24
|
Balances
|
||||||||||||
|
Initial
|
Beginning of Period
|
End of Period
|
|||||||||
Aggregate Securitization Value
|
$ |
1,439,263,098.40
|
$ |
1,091,827,871.12
|
$ |
1,044,923,901.72
|
||||||
Aggregate Discounted ALG Residual Value
|
$ |
823,565,558.28
|
$ |
737,602,466.43
|
$ |
715,212,852.51
|
||||||
Reserve Fund
|
$ |
3,598,157.75
|
$ |
3,598,157.75
|
$ |
3,598,157.75
|
||||||
Notes
|
||||||||||||
Class A-1 Notes
|
$ |
187,500,000.00
|
|
-
|
|
-
|
||||||
Class A-2 Notes
|
$ |
468,750,000.00
|
$ |
272,833,196.22
|
$ |
225,929,226.82
|
||||||
Class A-3 Notes
|
$ |
468,750,000.00
|
$ |
468,750,000.00
|
$ |
468,750,000.00
|
||||||
Class A-4 Notes
|
$ |
125,000,000.00
|
$ |
125,000,000.00
|
$ |
125,000,000.00
|
|
|||||
$ |
1,250,000,000.00
|
$ |
866,583,196.22
|
$ |
819,679,226.82
|
|||||||
Overcollateralization
|
$ |
189,263,098.40
|
$ |
225,244,674.90
|
Current Collection Period
|
||||||||
Beginning Securitization Value
|
$ |
1,091,827,871.12
|
||||||
Principal Reduction Amount
|
46,903,969.40
|
|||||||
Ending Securitization Value
|
$ |
1,044,923,901.72
|
||||||
First Priority Principal
|
||||||||
Aggregate Outstanding Note Balance (Beginning of Period)
|
$ |
866,583,196.22
|
||||||
Aggregate Securitization Value (End of Period)
|
$ |
1,044,923,901.72
|
||||||
First Priority Principal Distribution Amount
|
- | |||||||
Target Note Balance
|
$ |
819,679,226.82
|
||||||
Target Overcollateralization Amount
|
$ |
225,244,674.90
|
||||||
Target Overcollateralization Percentage
|
15.65
|
% | ||||||
Determination of Available Funds
|
||||||||
Collections
|
||||||||
Monthly Payments (net of Daily Advance Reimbursements)*
|
$ |
25,255,962.41
|
||||||
Reallocation Payment
|
237,664.84
|
|||||||
Sale Proceeds
|
4,548,633.98
|
|
||||||
Termination Proceeds
|
32,919,386.36
|
|||||||
Recovery Proceeds
|
3,749.68
|
|||||||
Total Collections
|
$ |
62,965,397.27
|
||||||
Advances
|
|
|||||||
Monthly Payment Advance
|
$ |
1,905,170.52
|
||||||
Sales Proceeds Advance
|
- | |||||||
Total Advances
|
$ |
1,905,170.52
|
||||||
Optional Purchase Price
|
0.00 | |||||||
Net Investment Earnings on SUBI Collection Account
|
- | |||||||
Total Available Funds
|
$ |
64,870,567.79
|
Collection Account
|
||||||||
Total Available Funds
|
$ |
64,870,567.79
|
||||||
Withdrawals from SUBI Collection Account
|
|
|||||||
Payment Date Advance Reimbursement
|
1,679,053.27
|
|||||||
Servicing Fees
|
909,856.56
|
|||||||
Note Distribution Account (Interest Due)
|
4,315,558.35
|
|||||||
Note Distribution Account (First Priority Principal Distribution Amount)
|
- |
|||||||
Reserve Fund Deposit
|
- |
|||||||
Note Distribution Account (Regular Principal Distribution Amount)
|
46,903,969.40
|
|||||||
Amounts paid to Indenture Trustee, Owner Trustee and Asset Representations Reviewer (subject to annual cap)
|
- |
|||||||
Amounts paid to Indenture Trustee, Owner Trustee and Asset Representations Reviewer (not subject to annual cap)
|
- |
|||||||
Certificate Distribution Account (any remaining payments)
|
11,062,130.21
|
|||||||
Total Distributions from SUBI Collection Account
|
$ |
64,870,567.79
|
Servicer Advance Amounts
|
||||||||
Beginning Period Unreimbursed Servicer Advance
|
$ |
2,004,917.61
|
||||||
Current Period Monthly Payment Advance
|
|
1,905,170.52
|
||||||
Current Period Sales Proceeds Advance
|
- | |||||||
Current Reimbursement of Previous Servicer Advance
|
1,679,053.27
|
|||||||
Ending Period Unreimbursed Previous Servicer Advances
|
$ |
2,231,034.86
|
Note Distribution Account
|
||||||||
|
||||||||
Amount Deposited from the Collection Account
|
$ |
51,219,527.75
|
||||||
Amount Deposited from the Reserve Fund
|
- | |||||||
Amount Paid to Noteholders
|
$ |
51,219,527.75
|
Payments to Indenture Trustee, Owner Trustee and Asset Representations Reviewer
|
||||||||
Indenture Trustee
|
||||||||
Amount due and payable to Indenture Trustee before giving effect to payments on current Payment Date:
|
|
-
|
||||||
Amount due and payable to Indenture Trustee after giving effect to payments on current Payment Date:
|
-
|
|||||||
Owner Trustee
|
||||||||
Amount due and payable to Owner Trustee before giving effect to payments on current Payment Date:
|
|
- |
||||||
Amount due and payable to Owner Trustee after giving effect to payments on current Payment Date:
|
- | |||||||
Asset Representations Reviewer Trustee
|
||||||||
Amount due and payable to Asset Representations Reviewer before giving effect to payments on current Payment Date:
|
|
-
|
||||||
Amount due and payable to Asset Representations Reviewer after giving effect to payments on current Payment Date:
|
- |
Distributions
|
||||||||||||||||||||||||
Priority Principal
|
||||||||||||||||||||||||
Aggregate Outstanding Note Principal
|
$ |
866,583,196.22
|
||||||||||||||||||||||
Monthly Principal Distributable Amount
|
First Priority Principal
|
Current Payment
|
Total Payment
|
Ending Balance
|
Per $1,000
|
Note Factor
|
||||||||||||||||||
Class A-1 Notes
|
- |
|
-
|
|
-
|
|
-
|
- |
-
|
|||||||||||||||
Class A-2 Notes
|
- |
$ |
46,903,969.40
|
$ |
46,903,969.40 |
$ |
225,929,226.82
|
100 | 0.48 | |||||||||||||||
Class A-3 Notes
|
- |
|
-
|
|
-
|
$ |
468,750,000.00
|
- | 1.00 | |||||||||||||||
Class A-4 Notes
|
- | - | - | $ |
125,000,000.00
|
- | 1.00 | |||||||||||||||||
- | $ |
46,903,969.40
|
$ |
46,903,969.40
|
$ |
819,679,226.82
|
||||||||||||||||||
Interest Distributable Amount
|
Interest Rate
|
Current Payment
|
Per $1,000
|
|||||||||||||||||||||
Class A-1 Notes
|
5.68700 | % |
|
-
|
0.00 | |||||||||||||||||||
Class A-2 Notes
|
5.95000
|
% |
$ |
1,352,797.93
|
2.89
|
|||||||||||||||||||
Class A-3 Notes
|
5.99000
|
% | $ |
2,339,843.75
|
4.99
|
|||||||||||||||||||
Class A-4 Notes
|
5.98000
|
% | $ |
622,916.67
|
4.98
|
|||||||||||||||||||
$ |
4,315,558.35
|
Carryover Shortfalls
|
||||||||||||
Prior Period Carryover
|
Current Payment
|
Current Period Carryover
|
||||||||||
Class A-1 Interest Carryover Shortfall
|
- | - | - | |||||||||
Class A-2 Interest Carryover Shortfall
|
- | - | - | |||||||||
Class A-3 Interest Carryover Shortfall
|
- | - | - | |||||||||
Class A-4 Interest Carryover Shortfall
|
- | - | - |
Reserve Fund
|
||||||||
Beginning Period Required Amount
|
$ |
3,598,157.75
|
||||||
Beginning Period Amount
|
3,598,157.75
|
|||||||
Current Period Deposit
|
- | |||||||
Net Investment Earnings
|
15,502.51
|
|||||||
Reserve Fund Draw Amount
|
- | |||||||
Release to Certificateholder
|
15,502.51
|
|||||||
Ending Period Required Amount
|
3,598,157.75
|
|||||||
Ending Period Amount
|
$ |
3,598,157.75
|
Pool Characteristics
|
||||||||||||
Initial
|
End of Period
|
|||||||||||
Number of Specified Leases
|
32,105
|
25,031
|
||||||||||
Weighted Average Remaining Term
|
24.00
|
15.51
|
||||||||||
Weighted Average Original Term
|
36.00
|
35.97
|
||||||||||
Weighted Average Seasoning
|
12.00
|
20.46
|
||||||||||
Units
|
Securitization Value
|
|||||||||||
Early Terminations
|
172 | $ |
7,217,988.81
|
|||||||||
Scheduled Terminations
|
872 |
$ |
24,976,964.10
|
|||||||||
Residual Value Losses for the Current Period
|
Beginning
|
Current Period
|
Cumulative
|
|||||||||
Sales and Termination Proceeds
|
$
|
206,559,590.13
|
$ |
35,752,343.33
|
$ |
242,311,933.46
|
||||||
ALG Residual Values
|
157,463,282.93
|
29,587,491.00
|
187,050,773.93
|
|||||||||
Residual Value Loss / (Gain)
|
|
$ |
(6,164,852.33
|
) | $ |
(55,261,159.53
|
) | |||||
Cumulative Residual Value Loss / (Gain) as of the end of the prior period
|
$ |
(49,096,307.20
|
) |
|||||||||
Cumulative Residual Value Loss / (Gain) as of the end of the 2nd preceding period
|
$ |
(41,366,431.55
|
) |
|||||||||
Cumulative Residual Value Loss / (Gain) as of the end of the 3rd preceding period
|
$ |
(33,910,722.53
|
) |
|||||||||
Delinquencies as of the end of the current period
|
Units
|
Securitization Value
|
Percentage
|
|||||||||
31-60 Days Delinquent
|
96 |
4,888,446.62
|
0.47
|
% | ||||||||
61-90 Days Delinquent
|
43 |
2,306,777.52
|
0.22
|
% | ||||||||
91-120 Days Delinquent
|
18 |
845,345.38
|
0.08
|
% | ||||||||
121 - 150 Days Delinquent
|
9 |
398,824.47
|
0.04
|
% | ||||||||
151 Days or More Delinquent
|
0 |
0.00
|
0.00
|
% | ||||||||
Total 30+ Days Past Due as of the end of the current period
|
166 |
$ |
8,439,393.99
|
0.81
|
% | |||||||
Total 60+ Days Past Due as of the end of the current period |
70 |
$ |
3,550,947.37
|
0.34
|
% | |||||||
Delinquencies as of the end of prior periods
|
||||||||||||
Total 30+ Days Past Due as of the end of the prior period
|
0.68
|
% | ||||||||||
Total 30+ Days Past Due as of the end of the 2nd preceding period
|
0.59
|
% | ||||||||||
Total 30+ Days Past Due as of the end of the 3rd preceding period
|
0.67
|
% | ||||||||||
Credit Losses as of the end of the current period
|
Units
|
Dollar Amount
|
||||||||||
Gross Credit Losses
|
1 | 4,687.44 | ||||||||||
Recoveries
|
1 |
110.89
|
||||||||||
|
||||||||||||
Net Credit Losses
|
|
4,576.55
|
|
|||||||||
Cumulative Net Credit Losses
|
13 | $ |
97,026.19
|
|
||||||||
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.01
|
% | ||||||||||
Charge Off Rate ***
|
0.01
|
% | ||||||||||
Average of Net Credit Losses ****
|
$ |
7,463.55
|
Historical Loss Information
|
||||||||
Credit Losses as of the end of the prior period
|
Units
|
Dollar Amount
|
||||||
Gross Credit Losses
|
4 |
|
24,575.02
|
|||||
Recoveries
|
1 |
3,039.02
|
|
|||||
Net Credit Losses
|
21,536.00
|
|
||||||
Cumulative Net Credit Losses
|
12 |
$ |
92,449.64
|
|||||
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.01
|
% | ||||||
Charge Off Rate ***
|
0.01
|
% | ||||||
Average of Net Credit Losses ****
|
|
7,704.14
|
||||||
Credit Losses as of the end of the 2nd preceding period
|
Units
|
Dollar Amount
|
||||||
Gross Credit Losses
|
2 |
2,573.21
|
||||||
Recoveries
|
0 | - | ||||||
Net Credit Losses
|
2,573.21
|
|
||||||
Cumulative Net Credit Losses
|
8 |
$ |
70,913.64
|
|||||
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.01
|
% | ||||||
Charge Off Rate ***
|
0.00
|
% | ||||||
Average of Net Credit Losses ****
|
8,864.21
|
|||||||
Credit Losses as of the end of the 3rd preceding period
|
Units
|
Dollar Amount
|
||||||
Gross Credit Losses
|
2 |
9,172.23
|
||||||
Recoveries
|
1 |
8,500.00
|
||||||
Net Credit Losses
|
672.23
|
|
||||||
Cumulative Net Credit Losses
|
6 | $ |
68,340.43
|
|||||
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.01
|
% | ||||||
Charge Off Rate ***
|
0.00
|
% | ||||||
Average of Net Credit Losses ****
|
11,390.07
|