CNH Equipment Trust 2023-B
11/15/2024 | Press release | Distributed by Public on 11/15/2024 08:27
Asset Backed Issuer Distribution Report Form 10 D
|
CNH Equipment Trust 2023-B |
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|
$227,000,000 Class A-1 5.688% Asset Backed Notes due October 15, 2024 |
|||||||||||||
|
$376,000,000 Class A-2 5.900% Asset Backed Notes due February 16, 2027 |
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|
$376,000,000 Class A-3 5.600% Asset Backed Notes due February 15, 2029 |
|||||||||||||
|
$71,960,000 Class A-4 5.460% Asset Backed Notes due March 17, 2031 |
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|
Please contact Sandy Tomlinson at 262-636-7833 with any questions regarding this report or email [email protected] |
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For additional information consult http://cnhindustrialcapital.com/investor info |
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Cutoff Date |
10/31/2024 |
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|
Date Added |
8/31/2023 |
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|
Pool |
Period |
Pool 1 |
Pool 2 |
Pool 3 |
Pool 4 |
||||||||
|
Scheduled Cashflows |
0 |
9,256,647.50 |
0.00 |
0.00 |
0.00 |
||||||||
|
1 |
7,331,113.52 |
0.00 |
0.00 |
0.00 |
|||||||||
|
2 |
11,174,430.00 |
0.00 |
0.00 |
0.00 |
|||||||||
|
3 |
11,271,123.53 |
0.00 |
0.00 |
0.00 |
|||||||||
|
4 |
9,137,036.00 |
0.00 |
0.00 |
0.00 |
|||||||||
|
5 |
12,023,700.73 |
0.00 |
0.00 |
0.00 |
|||||||||
|
6 |
26,895,669.56 |
0.00 |
0.00 |
0.00 |
|||||||||
|
7 |
25,703,174.63 |
0.00 |
0.00 |
0.00 |
|||||||||
|
8 |
25,569,557.35 |
0.00 |
0.00 |
0.00 |
|||||||||
|
9 |
29,709,534.17 |
0.00 |
0.00 |
0.00 |
|||||||||
|
10 |
24,046,838.21 |
0.00 |
0.00 |
0.00 |
|||||||||
|
11 |
7,723,044.25 |
0.00 |
0.00 |
0.00 |
|||||||||
|
12 |
7,895,742.79 |
0.00 |
0.00 |
0.00 |
|||||||||
|
13 |
8,857,412.64 |
0.00 |
0.00 |
0.00 |
|||||||||
|
14 |
11,151,100.49 |
0.00 |
0.00 |
0.00 |
|||||||||
|
15 |
10,051,508.11 |
0.00 |
0.00 |
0.00 |
|||||||||
|
16 |
8,555,419.62 |
0.00 |
0.00 |
0.00 |
|||||||||
|
17 |
11,684,766.98 |
0.00 |
0.00 |
0.00 |
|||||||||
|
18 |
26,493,309.20 |
0.00 |
0.00 |
0.00 |
|||||||||
|
19 |
25,326,429.50 |
0.00 |
0.00 |
0.00 |
|||||||||
|
20 |
25,115,140.33 |
0.00 |
0.00 |
0.00 |
|||||||||
|
21 |
29,419,612.11 |
0.00 |
0.00 |
0.00 |
|||||||||
|
22 |
23,558,149.35 |
0.00 |
0.00 |
0.00 |
|||||||||
|
23 |
6,787,202.05 |
0.00 |
0.00 |
0.00 |
|||||||||
|
24 |
6,961,554.38 |
0.00 |
0.00 |
0.00 |
|||||||||
|
25 |
7,901,422.18 |
0.00 |
0.00 |
0.00 |
|||||||||
|
26 |
9,774,722.09 |
0.00 |
0.00 |
0.00 |
|||||||||
|
27 |
7,937,625.87 |
0.00 |
0.00 |
0.00 |
|||||||||
|
28 |
7,185,632.48 |
0.00 |
0.00 |
0.00 |
|||||||||
|
29 |
10,254,388.20 |
0.00 |
0.00 |
0.00 |
|||||||||
|
30 |
23,851,213.49 |
0.00 |
0.00 |
0.00 |
|||||||||
|
31 |
23,654,002.12 |
0.00 |
0.00 |
0.00 |
|||||||||
|
32 |
23,298,363.22 |
0.00 |
0.00 |
0.00 |
|||||||||
|
33 |
27,133,283.70 |
0.00 |
0.00 |
0.00 |
|||||||||
|
34 |
21,225,024.28 |
0.00 |
0.00 |
0.00 |
|||||||||
|
35 |
5,800,860.37 |
0.00 |
0.00 |
0.00 |
|||||||||
|
36 |
5,986,237.57 |
0.00 |
0.00 |
0.00 |
|||||||||
|
37 |
6,684,126.34 |
0.00 |
0.00 |
0.00 |
|||||||||
|
38 |
8,559,796.60 |
0.00 |
0.00 |
0.00 |
|||||||||
|
39 |
6,938,365.87 |
0.00 |
0.00 |
0.00 |
|||||||||
|
40 |
5,945,304.52 |
0.00 |
0.00 |
0.00 |
|||||||||
|
41 |
9,121,387.51 |
0.00 |
0.00 |
0.00 |
|||||||||
|
42 |
21,317,946.49 |
0.00 |
0.00 |
0.00 |
|||||||||
|
43 |
21,268,595.76 |
0.00 |
0.00 |
0.00 |
|||||||||
|
44 |
20,769,109.76 |
0.00 |
0.00 |
0.00 |
|||||||||
|
45 |
23,972,411.42 |
0.00 |
0.00 |
0.00 |
|||||||||
|
46 |
17,522,361.89 |
0.00 |
0.00 |
0.00 |
|||||||||
|
47 |
1,618,647.94 |
0.00 |
0.00 |
0.00 |
|||||||||
|
48 |
1,436,077.90 |
0.00 |
0.00 |
0.00 |
|||||||||
|
49 |
1,862,365.44 |
0.00 |
0.00 |
0.00 |
|||||||||
|
50 |
2,225,652.26 |
0.00 |
0.00 |
0.00 |
|||||||||
|
51 |
1,585,605.01 |
0.00 |
0.00 |
0.00 |
|||||||||
|
52 |
1,464,569.13 |
0.00 |
0.00 |
0.00 |
|||||||||
|
53 |
1,891,180.11 |
0.00 |
0.00 |
0.00 |
|||||||||
|
54 |
4,038,035.94 |
0.00 |
0.00 |
0.00 |
|||||||||
|
55 |
3,684,924.84 |
0.00 |
0.00 |
0.00 |
|||||||||
|
56 |
3,686,033.52 |
0.00 |
0.00 |
0.00 |
|||||||||
|
57 |
4,697,160.93 |
0.00 |
0.00 |
0.00 |
|||||||||
|
58 |
3,561,118.88 |
0.00 |
0.00 |
0.00 |
|||||||||
|
59 |
803,071.36 |
0.00 |
0.00 |
0.00 |
|||||||||
|
60 |
686,981.33 |
0.00 |
0.00 |
0.00 |
|||||||||
|
61 |
945,121.05 |
0.00 |
0.00 |
0.00 |
|||||||||
|
62 |
1,210,837.76 |
0.00 |
0.00 |
0.00 |
|||||||||
|
63 |
933,852.56 |
0.00 |
0.00 |
0.00 |
|
64 |
763,529.44 |
0.00 |
0.00 |
0.00 |
|
|
65 |
799,535.33 |
0.00 |
0.00 |
0.00 |
|
|
66 |
2,360,333.62 |
0.00 |
0.00 |
0.00 |
|
|
67 |
2,060,388.95 |
0.00 |
0.00 |
0.00 |
|
|
68 |
2,250,320.30 |
0.00 |
0.00 |
0.00 |
|
|
69 |
2,905,539.04 |
0.00 |
0.00 |
0.00 |
|
|
70 |
2,079,458.27 |
0.00 |
0.00 |
0.00 |
|
|
71 |
107,244.45 |
0.00 |
0.00 |
0.00 |
|
|
72 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
73 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
74 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
75 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
76 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
77 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
78 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
79 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
80 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
81 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
82 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
83 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
84 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
85 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
86 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
Total Amount of Scheduled Cashflow |
Total |
767,458,984.09 |
0.00 |
0.00 |
0.00 |
|
Discount Rate |
8.400% |
8.400% |
8.400% |
8.400% |
|
|
Beginning Contract Value |
658,882,224.65 |
0.00 |
0.00 |
0.00 |
|
|
Scheduled Contract Value Decline |
12,220,673.84 |
0.00 |
0.00 |
0.00 |
|
|
Unscheduled Contract Value Decline |
(452,538.94) |
0.00 |
0.00 |
0.00 |
|
|
Additional Contract Value Added |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
Ending Contract Value |
647,114,089.75 |
0.00 |
0.00 |
0.00 |
|
|
aggregate Statistical Contract Value (Outstanding Balance) |
704,670,503.90 |
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|
CNH Equipment Trust 2023-B |
||||||||||||||
|
$227,000,000 Class A-1 5.688% Asset Backed Notes due October 15, 2024 |
||||||||||||||
|
$376,000,000 Class A-2 5.900% Asset Backed Notes due February 16, 2027 |
||||||||||||||
|
$376,000,000 Class A-3 5.600% Asset Backed Notes due February 15, 2029 |
||||||||||||||
|
$71,960,000 Class A-4 5.460% Asset Backed Notes due March 17, 2031 |
||||||||||||||
|
Dated Date (30/360) |
10/15/2024 |
|||||||||||||
|
Dated Date (act/360) |
10/15/2024 |
|||||||||||||
|
Scheduled Payment Date |
11/15/2024 |
|||||||||||||
|
Actual Payment Date |
11/15/2024 |
|||||||||||||
|
Days in accrual period (30/360) |
30 |
|||||||||||||
|
Days in accrual period (act/360) |
31 |
|||||||||||||
|
Note Distribution Account Deposit |
$14,701,763.83 |
|||||||||||||
|
Certificate Distribution Account deposit |
$1,173,818.81 |
|||||||||||||
|
First Principal Payment Amount |
$11,768,134.90 |
|||||||||||||
|
Additional Principal Payment Amount (this period) |
$0.00 |
|||||||||||||
|
Note Monthly Principal Distributable Amount (1) |
$11,768,134.90 |
|||||||||||||
|
Spread Account Initial Deposit |
$21,558,160.86 |
|||||||||||||
|
Amount required to be deposited into the Collection Account during the calendar month |
$16,326,422.89 |
|||||||||||||
|
Collateral Summary |
||||||||||||||
|
Wtd. Average Discount Rate |
8.400% |
|||||||||||||
|
Beginning Contract Value |
658,882,224.65 |
|||||||||||||
|
Scheduled Contract Value Decline |
12,220,673.84 |
|||||||||||||
|
Unscheduled Contract Value Decline |
(452,538.94) |
|||||||||||||
|
Additional Contract Value Purchased |
0.00 |
|||||||||||||
|
Ending Contract Value |
647,114,089.75 |
|||||||||||||
|
Total Beginning Balance (Pool Balance) |
658,882,224.65 |
|||||||||||||
|
Pool Balance as of end of last day of preceding Collection Period |
658,882,224.65 |
|||||||||||||
|
Total Ending Balance (Pool Balance ) |
647,114,089.75 |
|||||||||||||
|
Purchase amount of Receivables purchased due to Modification Events in the related Collection Period |
$0.00 |
|||||||||||||
|
Purchase amount of all other purchases and repurchases in the related Collection Period |
$0.00 |
|||||||||||||
|
Collections and Reinvestment Income |
||||||||||||||
|
Receipts During the period (net of servicer's liquidation expenses) |
$16,326,422.89 |
|||||||||||||
|
Warranty Repurchases |
||||||||||||||
|
Contracts deferred beyond Final Scheduled Maturity Date |
$0.00 |
|||||||||||||
|
Government obligors |
$0.00 |
|||||||||||||
|
Total Warranty Repurchases |
$0.00 |
|||||||||||||
|
Total Collections For The Period |
$16,326,422.89 |
|||||||||||||
|
Reinvestment Income |
$98,394.94 |
|||||||||||||
|
Total Collections + Reinvestment Income For The Period |
$16,424,817.83 |
|||||||||||||
|
Targeted Overcollateralization Amount End of Period |
$37,726,781.50 |
|||||||||||||
|
Targeted Overcollateralization Percentage End of Period |
3.50% |
|||||||||||||
|
Target Overcollateralization Amount met (Yes/No) |
Yes |
|||||||||||||
|
Other |
$0.00 |
|||||||||||||
|
CNH Equipment Trust 2023-B |
|||||||||||||||||||
|
$227,000,000 Class A-1 5.688% Asset Backed Notes due October 15, 2024 |
|||||||||||||||||||
|
$376,000,000 Class A-2 5.900% Asset Backed Notes due February 16, 2027 |
|||||||||||||||||||
|
$376,000,000 Class A-3 5.600% Asset Backed Notes due February 15, 2029 |
|||||||||||||||||||
|
$71,960,000 Class A-4 5.460% Asset Backed Notes due March 17, 2031 |
|||||||||||||||||||
|
Actual Payment Date |
11/15/2024 |
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|
General |
Party Receiving |
||||||||||||||||||
|
Purpose of |
Fee or Expense |
||||||||||||||||||
|
Calculation of Distributable Amounts |
Fee or Expense |
Amount |
|||||||||||||||||
|
NO |
|||||||||||||||||||
|
Current Asset Representation Fee Due |
Provide for Asset Representations Reviewer |
$0.00 |
|||||||||||||||||
|
Past Due Asset Representations Fee |
as required |
Clayton Fixed Income |
$0.00 |
||||||||||||||||
|
Total Asset Representations Fee Due |
Services LLC |
$0.00 |
|||||||||||||||||
|
CNH |
CNH |
||||||||||||||||||
|
Current Servicing Fee Due |
$549,068.52 |
||||||||||||||||||
|
Past Due Servicing Fee |
$0.00 |
||||||||||||||||||
|
Total Servicing Fee Due |
Provide for servicer as required |
NH Credit |
$549,068.52 |
||||||||||||||||
|
Company LLC |
|||||||||||||||||||
|
Current Administration Fee Due |
$500.00 |
$166.67 |
|||||||||||||||||
|
Past Due Administration Fee |
$0.00 |
||||||||||||||||||
|
Total Administration Fee Due |
Provide for trust administrator |
CNH Capital |
$166.67 |
||||||||||||||||
|
America LLC |
|||||||||||||||||||
|
Reimbursable Expenses of the Asset Representations Reviewer Due |
$0.00 |
||||||||||||||||||
|
Past Due Reimburseable Expenses of the Asset Representations Reviewer |
$0.00 |
||||||||||||||||||
|
Total Reimbursable Expenses of the Asset Representations Reviewer Due |
$0.00 |
||||||||||||||||||
|
To cover expenses of asset representations reviewer |
|||||||||||||||||||
|
Indemnities of the Asset Representations Reviewer Due |
$0.00 |
||||||||||||||||||
|
Past Due Indemnities of the Asset Representations Reviewer |
$0.00 |
||||||||||||||||||
|
Total Indemnities of the Asset Representations Reviewer Due |
$0.00 |
||||||||||||||||||
|
To indemnify asset representations reviewer |
|||||||||||||||||||
|
Reimburseable Expenses of the Servicer Due |
$0.00 |
||||||||||||||||||
|
Past Due Reimburseable Expenses of the Servicer |
$0.00 |
||||||||||||||||||
|
Total Reimburseable Expenses of the Servicer Due |
To cover expenses of servicer |
NH Credit |
$0.00 |
||||||||||||||||
|
Company LLC |
|||||||||||||||||||
|
Total Principal Balance of Notes (Beginning of Period) |
$621,155,443.15 |
||||||||||||||||||
|
A-1 notes Beginning Principal balance |
$0.00 |
||||||||||||||||||
|
A-2 notes Beginning Principal balance |
$173,195,443.15 |
||||||||||||||||||
|
A-3 notes Beginning Principal balance |
$376,000,000.00 |
||||||||||||||||||
|
A-4 notes Beginning Principal balance |
$71,960,000.00 |
||||||||||||||||||
|
Coupon/ |
Swap Adj. |
||||||||||||||||||
|
Type |
Spread |
Coupon |
Daycount |
||||||||||||||||
|
A-1 notes Current Interest Due |
Fix |
5.68800% |
5.68800% |
act/360 |
$0.00 |
||||||||||||||
|
A-2 notes Current Interest Due |
Fix |
5.90000% |
5.90000% |
30/360 |
$851,544.26 |
||||||||||||||
|
A-3 notes Current Interest Due |
Fix |
5.60000% |
5.60000% |
30/360 |
$1,754,666.67 |
||||||||||||||
|
A-4 notes Current Interest Due |
Fix |
5.46000% |
5.46000% |
30/360 |
$327,418.00 |
||||||||||||||
|
A-1 notes Past Due Interest |
$0.00 |
||||||||||||||||||
|
A-2 notes Past Due Interest |
$0.00 |
||||||||||||||||||
|
A-3 notes Past Due Interest |
$0.00 |
||||||||||||||||||
|
A-4 notes Past Due Interest |
$0.00 |
||||||||||||||||||
|
A-1 notes Interest Due on Past Due Interest |
$0.00 |
||||||||||||||||||
|
A-2 notes Interest Due on Past Due Interest |
$0.00 |
||||||||||||||||||
|
A-3 notes Interest Due on Past Due Interest |
$0.00 |
||||||||||||||||||
|
A-4 notes Interest Due on Past Due Interest |
$0.00 |
||||||||||||||||||
|
A-1 notes Total Interest Due |
$0.00 |
||||||||||||||||||
|
A-2 notes Total Interest Due |
$851,544.26 |
||||||||||||||||||
|
A-3 notes Total Interest Due |
$1,754,666.67 |
||||||||||||||||||
|
A-4 notes Total Interest Due |
$327,418.00 |
||||||||||||||||||
|
A-1 notes Principal Due |
$0.00 |
|
A-2 notes Principal Due |
$11,768,134.90 |
|
A-3 notes Principal Due |
$0.00 |
|
A-4 notes Principal Due |
$0.00 |
|
Total notes Interest Due |
$2,933,628.93 |
|
Total notes Principal Due |
$11,768,134.90 |
|
Net Swap/Termination Payment Due |
$0.00 |
|
Total notes Distributable Amount |
$14,701,763.83 |
|
ī |
||||||||||
|
CNH Equipment Trust 2023-B |
||||||||||
|
$227,000,000 Class A-1 5.688% Asset Backed Notes due October 15, 2024 |
||||||||||
|
$376,000,000 Class A-2 5.900% Asset Backed Notes due February 16, 2027 |
||||||||||
|
$376,000,000 Class A-3 5.600% Asset Backed Notes due February 15, 2029 |
||||||||||
|
$71,960,000 Class A-4 5.460% Asset Backed Notes due March 17, 2031 |
||||||||||
|
Actual Payment Date |
11/15/2024 |
|||||||||
|
Cash Available for Distribution |
||||||||||
|
Total Collections + Reinvestment Income For The Period |
$16,424,817.83 |
|||||||||
|
Beginning Spread Account Balance |
$21,558,160.86 |
|||||||||
|
Deposits from Spread Account to Distribution Account |
$0.00 |
|||||||||
|
Total Cash Available |
$16,424,817.83 |
|||||||||
|
Cash Allocation (Cashflow Waterfall) |
Available Cash |
|||||||||
|
Asset Representation Reviewer Fee, Expenses and Indemnities up to a Maximum of $200,000.00 Per Year Paid |
$0.00 |
|||||||||
|
Asset Representation Reviewer Fee, Expenses and Indemnities up to a Maximum of $200,000.00 Per Year Paid Shortfall |
$0.00 |
|||||||||
|
16,424,817.83 |
||||||||||
|
Servicing Fee Paid |
$549,068.52 |
|||||||||
|
Servicing Fee Shortfall |
$0.00 |
|||||||||
|
$15,875,749.31 |
||||||||||
|
Administration Fee Paid |
$166.67 |
|||||||||
|
Administration Fee Shortfall |
$0.00 |
|||||||||
|
$15,875,582.64 |
||||||||||
|
Remaining Cash Available to Pay Note Interest & Swap Termination Payment |
$15,875,582.64 |
|||||||||
|
Cash Available to Pay Note Interest |
$15,875,582.64 |
|||||||||
|
Cash Available to Pay Termination Payment |
$15,875,582.64 |
|||||||||
|
Class A-1 notes Interest Paid |
$0.00 |
|||||||||
|
Class A-2 notes Interest Paid |
$851,544.26 |
|||||||||
|
Class A-3 notes Interest Paid |
$1,754,666.67 |
|||||||||
|
Class A-4 notes Interest Paid |
$327,418.00 |
|||||||||
|
$12,941,953.71 |
||||||||||
|
Class A-1 notes Interest Shortfall |
$0.00 |
|||||||||
|
Class A-2 notes Interest Shortfall |
$0.00 |
|||||||||
|
Class A-3 notes Interest Shortfall |
$0.00 |
|||||||||
|
Class A-4 notes Interest Shortfall |
$0.00 |
|||||||||
|
First Principal Payment Amount |
$11,768,134.90 |
|||||||||
|
Class A-1 notes Principal Paid |
$0.00 |
|||||||||
|
Class A-2 notes Principal Paid |
$11,768,134.90 |
|||||||||
|
Class A-3 notes Principal Paid |
$0.00 |
|||||||||
|
Class A-4 notes Principal Paid |
$0.00 |
|||||||||
|
1,173,818.81 |
||||||||||
|
Deposits to Spread Account |
$0.00 |
|||||||||
|
Additional Note Monthly Principal Distributable Amount (this Period) |
$0.00 |
|||||||||
|
LTD Additional Note Monthly Principal Distributable Amount |
$10,778,738.53 |
|||||||||
|
1,173,818.81 |
||||||||||
|
Reimbursable Expenses of the Asset Representations Reviewer Paid |
$0.00 |
|||||||||
|
Reimbursable Expenses of the Asset Representations Reviewer Shortfall |
$0.00 |
|||||||||
|
$1,173,818.81 |
||||||||||
|
Reimbursable expenses of the Servicer Paid |
$0.00 |
|||||||||
|
Reimbursable expenses of the Servicer Shortfall |
$0.00 |
|||||||||
|
$1,173,818.81 |
||||||||||
|
Total Principal Balance of Notes (End of Period) |
$609,387,308.25 |
|||||||||
|
A-1 notes Ending Principal balance |
$0.00 |
|||||||||
|
A-2 notes Ending Principal balance |
$161,427,308.25 |
|||||||||
|
A-3 notes Ending Principal balance |
$376,000,000.00 |
|||||||||
|
A-4 notes Ending Principal balance |
$71,960,000.00 |
|||||||||
|
Release excess to the Certificateholders |
$1,173,818.81 |
$1,173,818.81 |
||||||||
|
ī |
||||||||||||||||||
|
CNH Equipment Trust 2023-B |
||||||||||||||||||
|
$227,000,000 Class A-1 5.688% Asset Backed Notes due October 15, 2024 |
||||||||||||||||||
|
$376,000,000 Class A-2 5.900% Asset Backed Notes due February 16, 2027 |
||||||||||||||||||
|
$376,000,000 Class A-3 5.600% Asset Backed Notes due February 15, 2029 |
||||||||||||||||||
|
$71,960,000 Class A-4 5.460% Asset Backed Notes due March 17, 2031 |
||||||||||||||||||
|
Actual Payment Date |
11/15/2024 |
|||||||||||||||||
|
Summary and Factors |
Amount |
Factor |
Per/$1000 |
|||||||||||||||
|
Total Principal Balance of Notes (Beginning of Period) |
$621,155,443.15 |
0.5910362 |
$591.04 |
|||||||||||||||
|
A-1 notes Beginning Principal balance |
$0.00 |
0.0000000 |
$0.00 |
|||||||||||||||
|
A-2 notes Beginning Principal balance |
$173,195,443.15 |
0.4606262 |
$460.63 |
|||||||||||||||
|
A-3 notes Beginning Principal balance |
$376,000,000.00 |
1.0000000 |
$1,000.00 |
|||||||||||||||
|
A-4 notes Beginning Principal balance |
$71,960,000.00 |
1.0000000 |
$1,000.00 |
|||||||||||||||
|
Total Principal Balance of Notes (End of Period) |
WAL |
$609,387,308.25 |
0.5798387 |
$579.84 |
||||||||||||||
|
A-1 notes Ending Principal balance |
0.36 |
$227,000,000.00 |
$0.00 |
0.0000000 |
$0.00 |
|||||||||||||
|
A-2 notes Ending Principal balance |
1.18 |
$376,000,000.00 |
$161,427,308.25 |
0.4293279 |
$429.33 |
|||||||||||||
|
A-3 notes Ending Principal balance |
2.80 |
$376,000,000.00 |
$376,000,000.00 |
1.0000000 |
$1,000.00 |
|||||||||||||
|
A-4 notes Ending Principal balance |
3.97 |
$71,960,000.00 |
$71,960,000.00 |
1.0000000 |
$1,000.00 |
|||||||||||||
|
Class A-1 notes Interest Paid |
$0.00 |
0.0000000 |
$0.00 |
|||||||||||||||
|
Class A-2 notes Interest Paid |
$851,544.26 |
0.0022647 |
$2.26 |
|||||||||||||||
|
Class A-3 notes Interest Paid |
$1,754,666.67 |
0.0046667 |
$4.67 |
|||||||||||||||
|
Class A-4 notes Interest Paid |
$327,418.00 |
0.0045500 |
$4.55 |
|||||||||||||||
|
Class A-1 notes Interest Shortfall |
$0.00 |
0.0000000 |
$0.00 |
|||||||||||||||
|
Class A-2 notes Interest Shortfall |
$0.00 |
0.0000000 |
$0.00 |
|||||||||||||||
|
Class A-3 notes Interest Shortfall |
$0.00 |
0.0000000 |
$0.00 |
|||||||||||||||
|
Class A-4 notes Interest Shortfall |
$0.00 |
0.0000000 |
$0.00 |
|||||||||||||||
|
Class A-1 notes Principal Paid |
$0.00 |
0.0000000 |
$0.00 |
|||||||||||||||
|
Class A-2 notes Principal Paid |
$11,768,134.90 |
0.0312982 |
$31.30 |
|||||||||||||||
|
Class A-3 notes Principal Paid |
$0.00 |
0.0000000 |
$0.00 |
|||||||||||||||
|
Class A-4 notes Principal Paid |
$0.00 |
0.0000000 |
$0.00 |
|||||||||||||||
|
Spread Account |
||||||||||||||||||
|
Required Spread Account Deposit (Add Loans) |
2.00% |
$0.00 |
||||||||||||||||
|
Required Spread Account |
$21,558,160.86 |
|||||||||||||||||
|
Beginning Spread Account Balance |
$21,558,160.86 |
|||||||||||||||||
|
Spread Account Withdrawals to Distribution Account |
$0.00 |
|||||||||||||||||
|
Spread Account Deposits from Excess Cash |
$0.00 |
|||||||||||||||||
|
Spread Account Released to Seller |
$0.00 |
|||||||||||||||||
|
Ending Spread Account Balance |
$21,558,160.86 |
|||||||||||||||||
|
Original |
||||||||||||||||||
|
Purchases |
Cut-Off |
Closing |
Pool |
|||||||||||||||
|
Units |
Date |
Date |
Balance |
|||||||||||||||
|
Initial Purchase |
15,301 |
8/31/23 |
9/27/23 |
1,077,908,042.97 |
||||||||||||||
|
Subsequent Purchase #1 |
0 |
0.00 |
||||||||||||||||
|
Subsequent Purchase #2 |
0 |
0.00 |
||||||||||||||||
|
Total |
15,301 |
1,077,908,042.97 |
||||||||||||||||
|
Total Release to Seller |
$1,723,054.00 |
|||||||||||||||||
|
"The Administrator hereby directs the Indenture Trustee to pay on the Payment Date set forth above from the Certificate Distribution Account to the Certificateholders, on a pro rata basis, zero payment." |
||||||||||||||||||
|
POOL STATISTICS |
||||||||||||
|
Collateral Composition |
||||||||||||
|
Number of Receivables at Beginning of Period |
12,343 |
|||||||||||
|
Number of Receivables at End of Period |
12,248 |
|||||||||||
|
Weighted Average Coupon on Receivables |
4.20 |
|||||||||||
|
Weighted Average Original Term on Receivables |
62.89 |
|||||||||||
|
Weighted Average Remaining Term on Receivables |
44.98 |
|||||||||||
|
Pool Factor |
0.57984 |
|||||||||||
|
A-1 Note Pool Factor |
- |
|||||||||||
|
A-2 Note Pool Factor |
0.42933 |
|||||||||||
|
A-3 Note Pool Factor |
1.00000 |
|||||||||||
|
A-4 Note Pool Factor |
1.00000 |
|||||||||||
|
Unscheduled Contract Value Decline - Monthly |
(452,538.94) |
|||||||||||
|
Unscheduled Contract Value Decline - Life-to-Date |
209,422,652.02 |
|||||||||||
|
Call Factor - based on Ending Contract Value |
60.03% |
|||||||||||
|
Collateral Performance |
||||||||||||
|
Contractural Delinquency (1): |
Count |
% |
Amount |
% |
||||||||
|
31-60 Days delinquent |
112 |
0.91% |
6,460,327.02 |
0.92% |
||||||||
|
61-90 Days delinquent |
45 |
0.37% |
4,214,541.70 |
0.60% |
||||||||
|
91-120 Days delinquent |
35 |
0.29% |
2,963,934.48 |
0.42% |
||||||||
|
121-150 Days delinquent |
26 |
0.21% |
1,600,536.74 |
0.23% |
||||||||
|
151-180 Days delinquent |
23 |
0.19% |
2,131,498.00 |
0.30% |
||||||||
|
181 + Days delinquent |
54 |
0.44% |
4,018,655.34 |
0.57% |
||||||||
|
TOTAL |
295 |
2.41% |
21,389,493.27 |
3.04% |
||||||||
|
Amounts Past Due (2) |
||||||||||||
|
Scheduled Amounts 30 - 59 days past due |
$356,538.91 |
0.06% |
||||||||||
|
Scheduled Amounts 60 days or more past due (3) |
$823,501.04 |
0.13% |
||||||||||
|
ARR Delinquency Trigger (61+ Days Delinquent Receivables) |
||||||||||||
|
Period (from Cutoff Date ) |
||||||||||||
|
1-12 |
10.00% |
|||||||||||
|
13-48+ |
16.00% |
Variance |
Trigger |
|||||||||
|
End of Collection Period 61+ days delinquent Receivables as a percentage of the aggregate Statistical Contract Value |
2.12% |
13.8814% |
16.00% |
|||||||||
|
Do end of Collection Period 61+ days delinquent Receivables as a percentage of the aggregate Statistical Contract Value meet or exceed the applicable ARR Delinquency Trigger percentage (did Delinquency Trigger occur)? |
NO |
|||||||||||
|
Net and Realized Losses |
Amount |
Count (4) |
% |
|||||||||
|
Net Losses (5) |
$314,154.71 |
37 |
0.05% |
|||||||||
|
Write Down Amount on 180 Day Receivables |
$215,890.99 |
|||||||||||
|
Monthly Realized Losses (Total) |
$530,045.70 |
|||||||||||
|
Net Losses as a % of the Average Pool Balance |
0.048% |
|||||||||||
|
Average Net Losses on all Receivables that have experienced a Net Loss this period |
$8,490.67 |
|||||||||||
|
Life-to-Date Net Losses |
$2,254,521.44 |
116 |
||||||||||
|
Cumulative Write Down Amount on 180 Day Receivables |
$579,184.04 |
|||||||||||
|
Cumulative Realized Losses (Total) |
$2,833,705.48 |
|||||||||||
|
Life-to-Date Net Losses as a % of the Initial Pool Balance |
0.209% |
|||||||||||
|
Average Net Loss on all Receivables that have experienced a Net Loss |
$19,435.53 |
|||||||||||
|
Cumulative Net Loss Ratio |
0.2629% |
|||||||||||
|
Repossession Inventory and 180-Day Receivables |
||||||||||||
|
Repossessed Equipment not Sold or Reassigned (Beginning) (6) |
$2,744,830.96 |
|||||||||||
|
Repossessed Equipment not Sold or Reassigned (End) |
$3,263,259.24 |
|||||||||||
|
Balance of 180 Day Receivables (Beg of month) (7) |
$1,037,812.37 |
|||||||||||
|
Balance of 180 Day Receivables (End of month) |
$1,654,516.61 |
|||||||||||
|
(1) Delinquent amount represents, for all Receivables (including 180 Day and Repossessed Receivables, but excluding Liquidated or Purchased Receivables) with respect to which any amounts are delinquent, the outstanding principal balance plus any missed interest, with Repossessed Receivables stated at their estimated realizable value. |
||||||||||||
|
(2) Scheduled amount past due represents the amount of missed principal and interest payments plus any fees. |
||||||||||||
|
(3) This number is utilized to calculate Delinquency Ratio with respect to the Specified Spread Account Reduction Trigger. |
|
(4) The sum of the monthly count of Receivables will not equal the life-to-date count of Receivables due to loss activity on the same Receivable occurring in multiple months. Duplicate Receivables have been removed from the life-to-date count. |
|
|
(5) Net Losses are the sum of (a) the estimated realizable loss at the time of repossession, (b) full charge-off if written off without a repossession and (c) adjustment to the estimated realizable loss for proceeds from the liquidation of Repossessed Receivables. Net Loss percentages and Average Net Losses are based on Net Losses excluding Write Down Amounts on 180-Day Receivables. |
|
|
(6) Repossessed Receivables are stated at estimated realized value. |
|
|
(7) Balance of 180- Day Receivables is stated at outstanding principal balance and any fees. |
|
|
STATEMENTS TO NOTEHOLDERS |
|
|
1 Has there been a material change in practices with respect to charge offs, collection and management of delinquent Receivables, 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 Receivables 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 Receivables ? |
NO |
|
4 Has there been an issuance of notes or other securities backed by the Receivables ? |
NO |
|
5 Has there been a material change in the underwriting, origination or acquisition of Receivables ? |
NO |
|
Interest and principal Payments Pursuant to Section 5.6 (d) and (e) (II) of the sale and Servicing Agreement |
|||||||
|
Distribution Amount |
Class A-1 Notes |
||||||
|
1. Interest Due on each Payment Date (assuming no Principal Reduction) |
|||||||
|
|
|||||||
|
10/16/2023 |
|
||||||
|
11/15/2023 |
|
||||||
|
12/15/2023 |
|
||||||
|
1/16/2024 |
|
||||||
|
2/15/2024 |
|
||||||
|
3/15/2024 |
|
||||||
|
4/15/2024 |
|
||||||
|
5/15/2024 |
|
||||||
|
6/17/2024 |
|
||||||
|
7/15/2024 |
|
||||||
|
8/15/2024 |
|
||||||
|
9/16/2024 |
|
||||||
|
10/15/2024 |
|
||||||
|
2. Total Outstanding Principal Payment Due at Final Scheduled Maturity Date |
0.00 |
||||||
|
3. Final Scheduled Maturity Date |
October 15, 2024 |
||||||
|
Distribution Amount |
Class A-2 Notes |
Class A-3 Notes |
Class A-4 Notes |
||||
|
1. Interest Due on each following Payment Date (assuming no Principal Reduction) |
851,544.26 |
1,754,666.67 |
327,418.00 |
||||
|
2. Total Outstanding Principal Payment Due at Final Scheduled Maturity Date |
161,427,308.25 |
376,000,000.00 |
71,960,000.00 |
||||
|
3. Final Scheduled Maturity Date |
February 16, 2027 |
February 15, 2029 |
March 17, 2031 |
||||