Nissan Auto Lease Trust 2024-A

10/28/2024 | Press release | Distributed by Public on 10/28/2024 14:21

Asset Backed Issuer Distribution Report Form 10 D

Nissan Auto Lease Trust 2024-A

Servicer's Report

Collection Period Start 1-Sep-24 Distribution Date

15-Oct-24

Collection Period End 30-Sep-24 30/360 Days

30

Beg. of Interest Period 16-Sep-24 Actual/360 Days

29

End of Interest Period 15-Oct-24
SUMMARY
Coupon Rate Initial Balance Beginning Balance Ending Balance Pool Factor

Total Portfolio

1,560,158,172.56 1,382,334,646.32 1,358,871,337.40 0.8709831

Total Securities

1,560,158,172.56 1,382,334,646.32 1,358,871,337.40 0.8709831

Class A-1 Notes

5.502000 % 150,000,000.00 0.00 0.00 0.0000000

Class A-2a Notes

5.110000 % 262,000,000.00 248,088,236.88 236,356,582.42 0.9021244

Class A-2b Notes

5.842070 % 262,000,000.00 248,088,236.88 236,356,582.42 0.9021244

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

11,731,654.46 1,056,442.41 44.7773071 4.0322229

Class A-2b Notes

11,731,654.46 1,167,531.01 44.7773071 4.4562252

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

23,463,308.92 4,417,262.09

I. COLLECTIONS

Lease Payments: ( Lease Series Assets)

Monthly Principal

13,299,356.58

Monthly Interest

10,752,978.92

Total Monthly Payments

24,052,335.50

Interest Rate Cap Payments

0.00

Advances:

Aggregate Monthly Payment Advances

789,986.70

Aggregate Sales Proceeds Advance

802,191.01

Total Advances

1,592,177.71

Vehicle Disposition Proceeds:

Repurchase Payments

0.00

Recoveries

0.00

Net Liquidation Proceeds (includes Reallocation Payments and Net Auction Proceeds)

5,657,025.73

Excess Wear and Tear and Excess Mileage

4,353.95

Remaining Payoffs

0.00

Net Insurance Proceeds

1,285,681.83

Residual Value Surplus

3,902.21

Total Collections

32,595,476.93
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

411,346.00 16

Involuntary Repossession

271,151.00 11

Voluntary Repossession

382,163.00 13

Full Termination

- -

Bankruptcty

62,091.00 2

Insurance Payoff

1,261,764.65 47

Customer Payoff

83,678.22 3

Grounding Dealer Payoff

4,235,545.88 134

Dealer Purchase

- -

Total

1,126,751.00 1,261,764.65 4,319,224.10 226

II. COLLATERAL POOL BALANCE DATA

Number Book Amount Discount Rate Securitization
Value

Pool Balance - Beginning of Period

48,230 1,584,163,969.85 7.00000 % 1,382,334,646.32

Total Depreciation Received

(13,781,329.83 ) (16,412,269.62 )

Principal Amount of Gross Losses

(87 ) (2,710,982.21 ) (2,414,310.03 )

Repurchase / Reallocation

0 0.00 0.00

Early Terminations

(15 ) (508,782.42 ) (445,895.79 )

Scheduled Terminations

(153 ) (4,661,465.05 ) (4,190,833.48 )

Pool Balance - End of Period

47,975 1,562,501,410.34 1,358,871,337.40

Remaining Pool Balance

Lease Payment

453,821,786.87

Residual Value

905,049,550.53

Total

1,358,871,337.40

NISSAN AUTO LEASE TRUST 2024-A

Servicer Report

III. DISTRIBUTIONS

Total Collections

32,595,476.93

Reserve Amounts Available for Distribution

0.00

Total Available for Distribution

32,595,476.93

1. Amounts due Indenture Trustee as Compensation or Indemnity

0.00

2. Reimbursement of Payment Advance

637,943.07

3. Reimbursement of Sales Proceeds Advance

422,704.84

4. Servicing Fee:

Servicing Fee Due

1,151,945.54

Servicing Fee Paid

1,151,945.54

Servicing Fee Shortfall

0.00

Total Trustee, Advances and Servicing Fee Paid

2,212,593.45

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

1,056,442.41

Class A-2a Notes Monthly Interest Paid

1,056,442.41

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

1,167,531.01

Class A-2b Notes Monthly Interest Paid

1,167,531.01

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

4,417,262.09

Total Note and Certificate Monthly Interest Paid

4,417,262.09

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

25,965,621.39

6. Total Monthly Principal Paid on the Notes

Total Monthly Principal Paid on the Class A Notes

23,463,308.92

Total Class A Noteholders' Principal Carryover Shortfall

0.00

Total Class A Noteholders' Principal Distributable Amount

23,463,308.92

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

2,502,312.47

NISSAN AUTO LEASE TRUST 2024-A

Servicer 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

2,502,312.47

Gross Reserve Account Balance

12,643,340.59

Remaining Available Collections Released to Seller

2,502,312.47

Total Ending Reserve Account Balance

10,141,028.12
V. POOL STATISTICS

Weighted Average Remaining Maturity

19.88

Monthly Prepayment Speed

41 %

Lifetime Prepayment Speed

33 %
$ units

Recoveries of Defaulted and Casualty Receivables

2,116,097.64

Securitization Value of Defaulted Receivables and Casualty Receivables

2,414,310.03 87

Aggregate Defaulted and Casualty Gain (Loss)

(298,212.39 )

Pool Balance at Beginning of Collection Period

1,382,334,646.32

Net Loss Ratio

Current Collection Period

-0.0216 %

Preceding Collection Period

0.0090 %

Second Preceding Collection Period

-0.0718 %

Third Preceding Collection Period

-0.0199 %

Cumulative Net Losses for all Periods

0.1861 % 2,903,401.51
% of BOP Pool Balance Amount Number

Delinquent Receivables:

31-60 Days Delinquent

0.69 % 9,479,825.18 314

61-90 Days Delinquent

0.14 % 1,938,998.52 64

91-120 Days Delinquent

0.04 % 617,155.16 21

More than 120 Days

0.01 % 145,838.03 4

Total Delinquent Receivables:

0.88 % 12,181,816.89 403
Amount Number

61+ Days Delinquencies as Percentage of Receivables

Current Collection Period

0.20 % 0.18 %

Preceding Collection Period

0.22 % 0.22 %

Second Preceding Collection Period

0.19 % 0.18 %

Third Preceding Collection Period

0.19 % 0.18 %

60 Day Delinquent Receivables

3,017,802.39

Delinquency Percentage

0.22 %

Delinquency Trigger

4.40 %

Does the Delinquency Percentage exceed the Delinquency Trigger?

No
$ units

Aggregate Sales Performance of Auctioned Vehicles

Sales Proceeds

411,346.00 16

Securitization Value

487,531.49 16

Aggregate Residual Value Surplus (Loss)

(76,185.49 )
$ units

Cumulative Sales Performance of Auctioned Vehicles

Cumulative Sales Proceeds

3,886,612.62 153

Cumulative Securitization Value

4,425,712.45 153

Cumulative Residual Value Surplus (Loss)

(539,099.83 )
VI. RECONCILIATION OF ADVANCES

Beginning Balance of Residual Advance

751,934.38

Reimbursement of Outstanding Advance

422,704.84

Additional Advances for current period

802,191.01

Ending Balance of Residual Advance

1,131,420.55

Beginning Balance of Payment Advance

2,008,782.42

Reimbursement of Outstanding Payment Advance

637,943.07

Additional Payment Advances for current period

789,986.70

Ending Balance of Payment Advance

2,160,826.05

NISSAN AUTO LEASE TRUST 2024-A

Servicer 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.