08/05/2024 | Press release | Distributed by Public on 08/05/2024 12:30
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
|
$ |
1,151,428,801.99
|
$ |
610,535,390.08
|
$ |
575,408,297.21
|
||||||
Aggregate Discounted ALG Residual Value
|
$ |
668,004,165.88
|
$ |
474,026,863.52
|
$ |
453,392,006.17
|
||||||
Reserve Fund
|
$ |
2,878,572.00
|
$ |
2,878,572.00
|
$ |
2,878,572.00
|
||||||
Notes
|
||||||||||||
Class A-1 Notes
|
$ |
155,000,000.00
|
|
-
|
|
-
|
||||||
Class A-2 Notes
|
$ |
370,500,000.00
|
|
-
|
|
-
|
||||||
Class A-3 Notes
|
$ |
370,500,000.00
|
$ |
326,336,782.57
|
$ |
291,209,689.70
|
||||||
Class A-4 Notes
|
$ |
104,000,000.00
|
$ |
104,000,000.00
|
$ |
104,000,000.00
|
|
|||||
$ |
1,000,000,000.00
|
$ |
430,336,782.57
|
$ |
395,209,689.70
|
|||||||
Overcollateralization
|
$ |
151,428,801.99
|
$ |
180,198,607.51
|
Current Collection Period
|
||||||||
Beginning Securitization Value
|
$ |
610,535,390.08
|
||||||
Principal Reduction Amount
|
35,127,092.87
|
|||||||
Ending Securitization Value
|
$ |
575,408,297.21
|
||||||
First Priority Principal
|
||||||||
Aggregate Outstanding Note Balance (Beginning of Period)
|
$ |
430,336,782.57
|
||||||
Aggregate Securitization Value (End of Period)
|
$ |
575,408,297.21 |
||||||
First Priority Principal Distribution Amount
|
- | |||||||
Target Note Balance
|
$ |
395,209,689.70
|
||||||
Target Overcollateralization Amount
|
$ |
180,198,607.51
|
||||||
Target Overcollateralization Percentage
|
15.65
|
% | ||||||
Determination of Available Funds
|
||||||||
Collections
|
||||||||
Monthly Payments (net of Daily Advance Reimbursements)*
|
$ |
14,445,958.56
|
||||||
Reallocation Payment
|
76,906.21
|
|||||||
Sale Proceeds
|
4,377,054.29
|
|
||||||
Termination Proceeds
|
25,764,863.75
|
|||||||
Recovery Proceeds
|
69,601.69
|
|||||||
Total Collections
|
$ |
44,734,384.50
|
||||||
Advances
|
|
|||||||
Monthly Payment Advance
|
$ |
1,130,140.76
|
||||||
Sales Proceeds Advance
|
- | |||||||
Total Advances
|
$ |
1,130,140.76
|
||||||
Optional Purchase Price
|
0.00 | |||||||
Net Investment Earnings on SUBI Collection Account
|
- | |||||||
Total Available Funds
|
$ |
45,864,525.26
|
Collection Account
|
||||||||
Total Available Funds
|
$ |
45,864,525.26
|
||||||
Withdrawals from SUBI Collection Account
|
|
|||||||
Payment Date Advance Reimbursement
|
1,043,975.85
|
|||||||
Servicing Fees
|
508,779.49
|
|||||||
Note Distribution Account (Interest Due)
|
1,842,648.17
|
|||||||
Note Distribution Account (First Priority Principal Distribution Amount)
|
- |
|||||||
Reserve Fund Deposit
|
- |
|||||||
Note Distribution Account (Regular Principal Distribution Amount)
|
35,127,092.87
|
|||||||
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)
|
7,342,028.88
|
|||||||
Total Distributions from SUBI Collection Account
|
$ |
45,864,525.26
|
Servicer Advance Amounts
|
||||||||
Beginning Period Unreimbursed Servicer Advance
|
$ |
1,217,243.38
|
||||||
Current Period Monthly Payment Advance
|
|
1,130,140.76
|
||||||
Current Period Sales Proceeds Advance
|
- | |||||||
Current Reimbursement of Previous Servicer Advance
|
1,043,975.85
|
|||||||
Ending Period Unreimbursed Previous Servicer Advances
|
$ |
1,303,408.29
|
Note Distribution Account
|
||||||||
|
||||||||
Amount Deposited from the Collection Account
|
$ |
36,969,741.04
|
||||||
Amount Deposited from the Reserve Fund
|
- | |||||||
Amount Paid to Noteholders
|
$ |
36,969,741.04
|
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
|
$ |
430,336,782.57
|
||||||||||||||||||||||
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
|
- |
|
-
|
|
-
|
|
-
|
- |
- |
|||||||||||||||
Class A-3 Notes
|
- |
$ |
35,127,092.87
|
$ |
35,127,092.87
|
$ |
291,209,689.70
|
95 | 0.79 | |||||||||||||||
Class A-4 Notes
|
- | - | - | $ |
104,000,000.00
|
- | 1.00 | |||||||||||||||||
- | $ |
35,127,092.87
|
$ |
35,127,092.87
|
$ |
395,209,689.70
|
||||||||||||||||||
Interest Distributable Amount
|
Interest Rate
|
Current Payment
|
Per $1,000
|
|||||||||||||||||||||
Class A-1 Notes
|
4.83100
|
% |
|
-
|
0.00
|
|||||||||||||||||||
Class A-2 Notes
|
5.27000
|
% |
|
-
|
0.00
|
|||||||||||||||||||
Class A-3 Notes
|
5.16000
|
% | $ |
1,403,248.17
|
3.79
|
|||||||||||||||||||
Class A-4 Notes
|
5.07000
|
% | $ |
439,400.00
|
4.23
|
|||||||||||||||||||
$ |
1,842,648.17
|
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
|
$ |
2,878,572.00
|
||||||
Beginning Period Amount
|
2,878,572.00
|
|||||||
Current Period Deposit
|
- | |||||||
Net Investment Earnings
|
12,402.20
|
|||||||
Reserve Fund Draw Amount
|
- | |||||||
Release to Certificateholder
|
12,402.20
|
|||||||
Ending Period Required Amount
|
2,878,572.00
|
|||||||
Ending Period Amount
|
$ |
2,878,572.00
|
Pool Characteristics
|
||||||||||||
Initial
|
End of Period
|
|||||||||||
Number of Specified Leases
|
26,919
|
15,375
|
||||||||||
Weighted Average Remaining Term
|
24.00
|
9.83
|
||||||||||
Weighted Average Original Term
|
36.00
|
35.99
|
||||||||||
Weighted Average Seasoning
|
12.00
|
26.16
|
||||||||||
Units
|
Securitization Value
|
|||||||||||
Early Terminations
|
123
|
$ |
4,381,625.19
|
|||||||||
Scheduled Terminations
|
727
|
$ |
20,886,961.04
|
|||||||||
Residual Value Losses for the Current Period
|
Beginning
|
Current Period
|
Cumulative
|
|||||||||
Sales and Termination Proceeds
|
$
|
368,951,039.87
|
$ |
28,674,643.74
|
$ |
397,625,683.61
|
||||||
ALG Residual Values
|
289,731,597.28
|
24,558,373.20
|
314,289,970.48
|
|||||||||
Residual Value Loss / (Gain)
|
|
$ |
(4,116,270.54
|
) |
$ |
(83,335,713.13
|
) | |||||
Cumulative Residual Value Loss / (Gain) as of the end of the prior period
|
$ |
(79,219,442.59
|
) |
|||||||||
Cumulative Residual Value Loss / (Gain) as of the end of the 2nd preceding period
|
$ |
(73,731,565.91
|
) |
|||||||||
Cumulative Residual Value Loss / (Gain) as of the end of the 3rd preceding period
|
$ |
(67,554,259.42
|
) |
|||||||||
Delinquencies as of the end of the current period
|
Units
|
Securitization Value
|
Percentage
|
|||||||||
31-60 Days Delinquent
|
78 |
3,180,799.47
|
0.55
|
% | ||||||||
61-90 Days Delinquent
|
32 |
1,262,694.66
|
0.22
|
% | ||||||||
91-120 Days Delinquent
|
10 |
395,368.99
|
0.07
|
% | ||||||||
121 - 150 Days Delinquent
|
4 |
134,507.68
|
0.02
|
% | ||||||||
151 Days or More Delinquent
|
0 |
0.00
|
0.00
|
% | ||||||||
Total 30+ Days Past Due as of the end of the current period
|
124 | $ |
4,973,370.80
|
0.86
|
% | |||||||
Total 60+ Days Past Due as of the end of the current period |
46 |
$ |
1,792,571.33
|
0.31
|
% | |||||||
Delinquencies as of the end of prior periods
|
||||||||||||
Total 30+ Days Past Due as of the end of the prior period
|
0.72
|
% | ||||||||||
Total 30+ Days Past Due as of the end of the 2nd preceding period
|
0.67
|
% | ||||||||||
Total 30+ Days Past Due as of the end of the 3rd preceding period
|
0.78
|
% | ||||||||||
Credit Losses as of the end of the current period
|
Units
|
Dollar Amount
|
||||||||||
Gross Credit Losses
|
8 |
58,826.44
|
||||||||||
Recoveries
|
3 |
65,011.94
|
||||||||||
|
||||||||||||
Net Credit Losses
|
|
-6,185.50
|
|
|||||||||
Cumulative Net Credit Losses
|
45 | $ |
434,334.06
|
|
||||||||
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.07
|
% | ||||||||||
Charge Off Rate ***
|
0.04
|
% | ||||||||||
Average of Net Credit Losses ****
|
$ |
9,651.87
|
Historical Loss Information
|
|||||||||
Credit Losses as of the end of the prior period
|
Units
|
Dollar Amount
|
|||||||
Gross Credit Losses
|
4 |
|
63,101.72
|
||||||
Recoveries
|
2 |
34,255.00
|
|
||||||
Net Credit Losses
|
28,846.72
|
|
|||||||
Cumulative Net Credit Losses
|
37 |
$ |
440,519.56
|
||||||
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.07
|
% | |||||||
Charge Off Rate ***
|
0.04
|
% | |||||||
Average of Net Credit Losses ****
|
|
11,905.93
|
|||||||
Credit Losses as of the end of the 2nd preceding period
|
Units
|
Dollar Amount
|
|||||||
Gross Credit Losses
|
4 |
43,450.72
|
|||||||
Recoveries
|
1 |
13,000.00
|
|||||||
Net Credit Losses
|
30,450.72
|
|
|||||||
Cumulative Net Credit Losses
|
33 |
$ |
411,672.84
|
||||||
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.06
|
% | |||||||
Charge Off Rate ***
|
0.04
|
% | |||||||
Average of Net Credit Losses ****
|
12,474.93
|
||||||||
Credit Losses as of the end of the 3rd preceding period
|
Units
|
Dollar Amount
|
|||||||
Gross Credit Losses
|
8 | 105,263.08 | |||||||
Recoveries
|
2 |
2,934.31
|
|||||||
Net Credit Losses
|
102,328.77
|
|
|||||||
Cumulative Net Credit Losses
|
29 | $ |
381,222.12
|
||||||
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.05
|
% | |||||||
Charge Off Rate ***
|
0.03
|
% | |||||||
Average of Net Credit Losses ****
|
13,145.59
|