EX-99.1 2 brhc10029818_ex99-1.htm EXHIBIT 99.1

Exhibit 99.1

 
Ernst & Young LLP
One Manhattan West
New York, NY 10001
Tel: +1 212 773 3000
Fax: +1 212 773 6350
ey.com

Report of Independent Accountants on Applying Agreed-Upon Procedures

Enterprise Fleet Financing 2021-3, LLC
Enterprise Fleet Management, Inc.
600 Corporate Park Drive
St. Louis, Missouri 63105
12 October 2021

Re:
Enterprise Fleet Financing 2021-3, LLC (the “Issuer”)
Series 2021-3 Asset Backed Notes (the “Notes”)
Sample Lease Agreed-Upon Procedures
 
We have performed the procedures enumerated in Attachment A, which were agreed to and acknowledged as appropriate by the Issuer, Enterprise Fleet Management, Inc. (the “Sponsor”), J.P. Morgan Securities LLC (the “Lead Initial Purchaser”), BofA Securities, Inc. (“BofA Securities”), RBC Capital Markets, LLC (“RBC”) and HSBC Securities (USA) Inc. (“HSBC,” together with the Issuer, Sponsor, Lead Initial Purchaser, BofA Securities and RBC, the “Specified Parties”), for the intended purpose of assisting the Specified Parties in evaluating the accuracy of certain information with respect to a pool of leases (the “Leases”) and the vehicles subject to those Leases relating to the Issuer’s securitization transaction. This report may not be suitable for any other purpose. The procedures performed may not address all of the items of interest to a user of the report and may not meet the needs of all users of the report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. The appropriateness of these procedures is solely the responsibility of the Specified Parties identified in this report. No other party acknowledged the appropriateness of the procedures. Consequently, we make no representation regarding the appropriateness of the procedures described in Attachment A, either for the purpose for which this report has been requested or for any other purpose.

The procedures performed and our associated findings are included in Attachment A.


Page 2 of 4

For the purpose of the procedures described in this report, the Sponsor, on behalf of the Issuer, provided us with:

a.
An electronic data file labeled “DATA_TAPE_202109.accdb” and the corresponding record layout and decode information, as applicable (the “Data File”), that the Sponsor, on behalf of the Issuer, indicated contains information relating to certain leases and the vehicles subject to those leases as of 31 August 2021 (the “Cutoff Date”),

b.
Imaged copies of:

i.
The master equity lease agreement, master walkaway lease agreement, assignment and assumption agreement, open-end lease agreement and any corresponding amendments or addendums or other related documents (collectively and as applicable, the “Master Lease Agreement”),

ii.
Certain printed screen shots from the Sponsor’s servicing system (the “System Screen Shots”),

iii.
The credit review file (the “Credit Review File”),

iv.
The certificate of title and corresponding affidavit of correction, as applicable, certificate of origin for a vehicle, vehicle record, electronic title, certificate of vehicle registration, VTR inquiry, CVR inquiry report, multi- purpose application, current title, application to title, vehicle registration inquiry report, registration certificate or other related documents (collectively and as applicable, the “Title”) and

v.
The vehicle or equipment certificate of insurance, certificate of liability insurance, evidence of property insurance, self-insurance addendum to the Master Lease Agreement, liability and property coverage certificate, certificate of property insurance, certificate of coverage, certificate of liability coverage, lessor evidence of insurance, statement of self-insurance, lessor – additional insured and loss payee, loss payable addendum, intergovernmental risk pool certificate of coverage, insurance lender inquiry, Section 11(a) of the Master Lease Agreement and/or other related documents (collectively and as applicable and available, the “Insurance Source Documents,” together with the Master Lease Agreement, System Screen Shots, Credit Review File and Title, the “Source Documents”)
 that the Sponsor, on behalf of the Issuer, indicated relate to each Sample Lease (as defined in Attachment A),

c.
Certain schedules and the corresponding record layout and decode information, as applicable (the “Accumulated Depreciation Schedules,” together with the Source Documents, the “Sources”), that the Sponsor, on behalf of the Issuer, indicated contain monthly accumulated depreciation amounts for certain Sample Leases,

d.
The list of relevant characteristics (the “Sample Characteristics”) on the Base Data File (as defined in Attachment A), which is shown on Exhibit 1 to Attachment A, and

e.
Instructions, assumptions and methodologies, which are described in Attachment A.

For the purpose of the procedures described in this report, the Base Data File is the “Subject Matter” as of the date of this report.


Page 3 of 4

The procedures included in Attachment A were limited to comparing, observing or recalculating certain information that is further described in Attachment A. The Issuer is responsible for the Subject Matter, Data File, Sources, Sample Characteristics and the determination of the instructions, assumptions and methodologies that are described herein. We were not requested to perform, and we have not performed, any procedures other than those listed in Attachment A. We have not verified, and we make no representation as to, the accuracy, completeness or reasonableness of the Data File, Sources or any other information provided to us, or that we were instructed to obtain, as applicable, by the Sponsor, on behalf of the Issuer, upon which we relied in forming our findings. Accordingly, we make no representation and express no opinion or conclusion as to (a) the existence of the Base Leases (as defined in Attachment A) or Leases, (b) questions of legal or tax interpretation or (c) the appropriateness, accuracy, completeness or reasonableness of any instructions, assumptions and methodologies provided to us by the Sponsor, on behalf of the Issuer, that are described in this report. We undertake no responsibility to update this report for events and circumstances occurring after the date hereof.
 
This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants (the “AICPA”). An agreed-upon procedures engagement involves the practitioner performing specific procedures that the Specified Parties have agreed to and acknowledged to be appropriate for the purpose of the engagement and reporting on findings based on the procedures performed. We were not engaged to, and did not, conduct an examination to express an opinion or a review to express a conclusion in accordance with attestation standards established by the AICPA on any of the items referred to herein. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.

The agreed-upon procedures described in this report were not performed for the purpose of:

a.
Satisfying any criteria for due diligence published by a nationally recognized statistical rating organization (a “rating agency”) or

b.
Making any findings with respect to:

i.
Whether the origination of the Leases conformed to, or deviated from, stated underwriting or credit extension guidelines, standards, criteria, or other requirements,

ii.
The value of the collateral securing the Leases,

iii.
Whether the originator(s) of the Leases complied with federal, state or local laws or regulations or

iv.
Any other factor or characteristic of the Leases that would be material to the likelihood that the issuer of the Notes will pay interest and principal in accordance with applicable terms and conditions.
 
We are required to be independent of the Issuer and to meet our other ethical responsibilities, as applicable for agreed- upon procedures engagements set forth in the Preface: Applicable to All Members and Part 1 – Members in Public Practice of the Code of Professional Conduct established by the AICPA. Independence requirements for agreed-upon procedure engagements are less restrictive than independence requirements for audit and other attestation services.


Page 4 of 4

This report is intended solely for the information and use of the Specified Parties and is not intended to be, and should not be, used by anyone other than the Specified Parties. It is not intended to be, and should not be, used by any other person or entity, including investors and rating agencies, who are not identified in the report as Specified Parties but who may have access to this report as required by law or regulation.
 
/s/ Ernst & Young LLP

12 October 2021


Attachment A
Page 1 of 3
 
Procedures performed and our associated findings
 
Attachment A Page 1 of 3


1.
As instructed by the Sponsor, on behalf of the Issuer, we removed the leases and the vehicles subject to those leases from the Data File with a financial issuance description (FIN_ISS_DSC) not containing the word “Base,” as shown on the Data File.

The Data File, as adjusted, is hereinafter referred to as the “Base Data File.” The Sponsor, on behalf of the Issuer, indicated that the leases and the vehicles subject to those leases on the Base Data File are the “Base Leases” and are expected to be representative of the Leases.
 

2.
As instructed by the Sponsor, on behalf of the Issuer, we randomly selected a sample of 150 Base Leases from the Base Data File (the “Sample Leases”). For the purpose of this procedure, the Sponsor, on behalf of the Issuer, did not inform us as to the basis for how they determined the number of Sample Leases or the methodology they instructed us to use to select the Sample Leases from the Base Data File.

For the purpose of the procedures described in this report, the 150 Sample Leases are referred to as Sample Lease Numbers 1 through 150.


3.
For each Sample Lease, we:


a.
Compared the Sample Characteristics listed on Exhibit 1 to Attachment A, as shown on the Base Data File, to the corresponding information located on, or to the corresponding information we recalculated using information located on, the corresponding Sources, subject to the instructions, assumptions and methodologies provided by the Sponsor, on behalf of the Issuer, described in the notes to Exhibit 1 to Attachment A. The Source(s) that we were instructed by the Sponsor, on behalf of the Issuer, to use for each Sample Characteristic are shown on Exhibit 1 to Attachment A. All such compared information was found to be in agreement.
 

b.
Observed that the corresponding Master Lease Agreement contained a signature in the lessee signature section of such Master Lease Agreement. We performed no procedures to determine the validity of the signature contained in the lessee signature section of such Master Lease Agreement.
 

c.
Observed that the corresponding Credit Review File contained either a line of credit authorization form or an addendum to the line of credit authorization form that had an (i) approval and (ii) electronic signature. We performed no procedures to determine the validity of the approval or electronic signature contained in such Credit Review File.
 

d.
Compared the completed date, as shown in the corresponding Credit Review File, to the Cutoff Date, and, except for the Sample Leases listed on Exhibit 2 to Attachment A, observed that the completed date, as shown in such Credit Review File, was during the 12 month period ending on the Cutoff Date.


Attachment A
Page 2 of 3

3. (continued)


e.
Observed the party listed as owner name or for Sample Lease Number 145, name of purchaser, or for Sample Leases with a Title from the state of Oregon, security interest holder/lessor name, all as shown in the corresponding Title, all of which the Sponsor, on behalf of the Issuer, indicated is the “Owner.” As instructed by the Sponsor, on behalf of the Issuer, we listed the Owner that we observed, as shown in such Title, for each Sample Lease on Exhibit 3 to Attachment A. We performed no procedures to determine the validity of any party listed as owner name, name of purchaser or security interest holder/lessor name, as shown in such Title.
 

f.
Observed the loss payee name for physical damage insurance and additional insured name for liability insurance in the corresponding Insurance Source Documents (as applicable and available) or corresponding System Screen Shots (as applicable). As instructed by the Sponsor, on behalf of the Issuer, we listed the loss payee name for physical damage insurance and additional insured name for liability insurance that we observed, as shown in such Insurance Source Documents (as applicable and available) or System Screen Shots (as applicable), for each Sample Lease on Exhibit 4 to Attachment A. We also observed in such Insurance Source Documents (as applicable and available) or System Screen Shots (as applicable), subject to the instructions provided by the Sponsor, on behalf of the Issuer, described in the notes to Exhibit 4 to Attachment A, that:

i.
119 of the Sample Leases have Insurance Source Documents that indicate physical damage and liability insurance coverage and identify “Enterprise FM Trust” as both the loss payee and additional insured,

ii.
17 of the Sample Leases have System Screen Shots that indicate “Enterprise Enrollment Coverage” as the insurance carrier for both physical damage and liability and that indicate the amount of physical damage and liability insurance that is billed each month,

iii.
Seven of the Sample Leases have Insurance Source Documents that indicate the lessee being self-insured for physical damage and that indicate liability insurance coverage and identify “Enterprise FM Trust” as the additional insured,

iv.
Four of the Sample Leases have Insurance Source Documents that indicate the lessee being self-insured for both physical damage and liability,

v.
One of the Sample Leases has System Screen Shots that indicate “Enterprise Enrollment Coverage” as the insurance carrier for only physical damage and that indicate the amount of physical damage insurance that is billed each month and has Insurance Source Documents that indicate the lessee being self-insured for liability,


Attachment A
Page 3 of 3

3. (continued)

f. (continued)


vi.
One of the Sample Leases has System Screen Shots that indicate “Enterprise Enrollment Coverage” as the insurance carrier for only physical damage and that indicate the amount of physical damage insurance that is billed each month. We were unable to observe an additional insured for this Sample Lease. The Sponsor, on behalf of the Issuer, indicated that the lessee is a government entity and self-insured so does not have Insurance Source Documents that would list “Enterprise FM Trust” as the additional insured. We performed no procedures to determine the accuracy, completeness or reasonableness of the information provided by the Sponsor, on behalf of the Issuer, described in the preceding sentence and

vii.
One of the Sample Leases has Insurance Source Documents that indicate physical damage and liability insurance coverage and identify “Enterprise FM Trust” as the loss payee. We were unable to observe an additional insured for this Sample Lease. The Sponsor, on behalf of the Issuer, indicated that the Sample Lease’s Insurance Source Documents do not list “Enterprise FM Trust” as the additional insured because the lessee is a government entity. We performed no procedures to determine the accuracy, completeness or reasonableness of the information provided by the Sponsor, on behalf of the Issuer, described in the preceding sentence.
 
We performed no procedures to determine the accuracy, completeness or reasonableness of the information described in this Item that is contained in the Insurance Source Documents or System Screen Shots (as applicable).


Exhibit 1 to Attachment A
Page 1 of 3

Sample Characteristics and Sources

Sample Characteristic
 
Base Data File Field Name
 
Source(s)
 
Note(s)
             
Unit number
 
UNIT_NBR
 
System Screen Shots
 
i.
Client number
 
CLIENT_NUMBER
 
System Screen Shots
  ii.
Legal name of the lessee  
CLIENT_NAME
 
System Screen Shots
  iii.
Vehicle make  
VEHICLE_MAKE
 
System Screen Shots
 
Vehicle model
 
VEHICLE_MODEL
 
System Screen Shots
   
Vehicle type
 
VEH_TYPE_NAME
 
System Screen Shots
   
Contract type
 
LEASE_TYPE
 
System Screen Shots
 
iv.
Lease term
 
TERM
 
System Screen Shots
 
v.
Interest percentage
 
INT_PCT
 
System Screen Shots
   
Interest adjustment percentage
 
INT_ADJ_PCT
 
System Screen Shots
 
vi.
Vehicle residual value   RESIDUAL_VALUE_AMOUNT  
(a) System Screen Shots and recalculation or
  v., vii.
       
(b) System Screen Shots, Accumulated Depreciation Schedules and recalculation
   
Vehicle capitalized cost
 
CAP_COST_AMOUNT
 
System Screen Shots
 
v.
Client industry
 
BUSN_TYPE_DESC
 
System Screen Shots
 
viii.

Notes:
 

i.
For identification purposes only.


ii.
The Sponsor, on behalf of the Issuer, indicated that for certain Sample Leases (the “Affiliate Sample Leases”), the lessee is identified in the System Screen Shots as a sub-customer of a master customer (the “Master Customer”). For the purpose of comparing the client number Sample Characteristic for each Affiliate Sample Lease, the Sponsor, on behalf of the Issuer, instructed us to use the client number corresponding to the Master Customer, as shown in the System Screen Shots.


Exhibit 1 to Attachment A
Page 2 of 3

Notes: (continued)
 

iii.
For the purpose of comparing the legal name of the lessee Sample Characteristic for each Affiliate Sample Lease, the Sponsor, on behalf of the Issuer, instructed us to:

a.
Use the legal name of the Master Customer, as shown in the System Screen Shots, and

b.
Ignore differences due to abbreviations, truncations and punctuation.
 

iv.
For the purpose of comparing the contract type Sample Characteristic for each Sample Lease, the Sponsor, on behalf of the Issuer, indicated that:

a.
A contract type of “type N,” as shown in the System Screen Shots, corresponds to a closed term lease (the “Closed Term Sample Leases”), as shown on the Base Data File, and

b.
A contract type of “type E,” as shown in the System Screen Shots, corresponds to an open term lease (the “Open Term Sample Leases”), as shown on the Base Data File.
 

v.
The Sponsor, on behalf of the Issuer, indicated that certain of the System Screen Shots contained account activity that occurred after the Cutoff Date. For the purpose of comparing the indicated Sample Characteristics for each Sample Lease, the Sponsor, on behalf of the Issuer, instructed us to only consider account activity that occurred on or prior to the Cutoff Date.
 

vi.
The Sponsor, on behalf of the Issuer, instructed us not to compare the interest adjustment percentage Sample Characteristic for the Closed Term Sample Leases.


Exhibit 1 to Attachment A
Page 3 of 3

Notes: (continued)
 

vii.
For the purpose of comparing the vehicle residual value Sample Characteristic for each Sample Lease (except for Sample Lease Number 51) (subject to the additional instruction(s) provided by the Sponsor, on behalf of the Issuer, described in the succeeding paragraph(s) of this note and in accordance with any other applicable note(s)), the Sponsor, on behalf of the Issuer, instructed us to recalculate the vehicle residual value by subtracting the:
 
a.
Product of:
 
i.
The monthly depreciation amount and

ii.
The difference between the lease term and months in service
from

b.
Sum of the unit delivered price and accumulated depreciation reserve, all as shown in the System Screen Shots.

For the purpose of comparing the vehicle residual value Sample Characteristic for Sample Lease Number 51, the Sponsor, on behalf of the Issuer, instructed us to recalculate the vehicle residual value by subtracting the:

a.
Product of:

i.
The unit delivered price,

ii.
The depreciation percent and
 
iii.
The difference between the lease term and months in service, all as shown in the System Screen Shots,
from

b.
Sum of the:

i.
Unit delivered price, as shown in the System Screen Shots, and

ii.
Sum of the depreciation amount for each corresponding month in service, as shown on the Accumulated Depreciation Schedules.
 
For the purpose of the procedures described in this note, the Sponsor, on behalf of the Issuer, instructed us to ignore differences of +/- $1.00 or less.
 
For the avoidance of doubt with respect to the recalculations described above, the accumulated depreciation reserve and the sum of the depreciation amounts, as shown in the System Screen Shots or Accumulated Depreciation Schedules, as applicable, are negative values, and the recalculations described above reduce the unit delivered price by such accumulated depreciation reserve or sum of the depreciation amounts, as applicable.
 

viii.
For the purpose of comparing the client industry Sample Characteristic for each Affiliate Sample Lease, the Sponsor, on behalf of the Issuer, instructed us to use the client industry corresponding to the Master Customer, as shown in the System Screen Shots.
 
We performed no procedures to determine the accuracy, completeness or reasonableness of the instructions, assumptions and methodologies provided by the Sponsor, on behalf of the Issuer, described in the notes above.


Exhibit 2 to Attachment A

Credit Review File Completed Dates More Than 12 Months Prior to the Cutoff Date

Sample Lease Number
 
Completed Date
142
 
6/1/2020
144
 
7/16/2020
 
Note:
 
The Sponsor, on behalf of the Issuer, indicated that their credit and collection policy allows them to utilize a combination of objective measurements, subjective considerations and controls to determine when or if a credit review is necessary. The Sponsor, on behalf of the Issuer, indicated that while most clients are assigned a credit review date that is intended to result in an annual credit review, such date is not a defined date for performing a credit review. Additionally, the Sponsor, on behalf of the Issuer, indicated that credit personnel can use judgment to determine if a review is necessary or if it can be deferred and that common items they might consider include (but are not limited to):
a.
Whether or not the client plans to place additional orders over the next year and/or whether the expected timing of those additional orders allows for the credit review to be deferred,
b.
The level of risk inherent with the client’s fleet,
c.
How long they have been a client,
d.
Whether the latest financial information may be reviewed without performing a complete credit review (if the credit file is for a public company) and
e.
Whether the client has been placed on credit hold or order hold.

We performed no procedures to determine the accuracy, completeness or reasonableness of the information provided by the Sponsor, on behalf of the Issuer, described above.


Exhibit 3 to Attachment A
Page 1 of 4

Owner

Sample
Lease Number
 
Owner
     
1
 
Enterprise FM Trust
2
 
Enterprise FM Trust
3
 
Enterprise FM Trust LSR                                       LSE
4
 
Enterprise FM Trust
5
 
Enterprise FM Trust LSR                                              LSE
6
 
Enterprise FM Trust
7
 
Enterprise FM Trust
8
 
Enterprise FM Trust
9
 
Enterprise FM Trust LSR                        LSE
10
 
Enterprise FM Trust
11
 
Enterprise FM Trust
12
 
Enterprise FM Trust
13
 
Enterprise FM Trust
14
 
Enterprise FM Trust LSR                                       LSE
15
 
Enterprise FM Trust
16
 
Enterprise FM Trust LSR                                       LSE
17
 
Enterprise FM Trust
18
 
Enterprise FM Trust
19
 
Enterprise FM Trust
20
 
Enterprise FM Trust
21
 
Enterprise FM Trust
22
 
Enterprise FM Trust
23
 
Enterprise FM Trust
24
 
Enterprise FM Trust
25
 
Enterprise FM Trust
26
 
Enterprise FM Trust
27
 
Enterprise FM Trust
28
 
Enterprise FM Trust
29
 
Enterprise FM Trust
30
 
Enterprise FM Trust
31
 
Enterprise FM Trust
32
 
Enterprise FM Trust
33
 
Enterprise FM Trust
34
 
Enterprise FM Trust
35
 
Enterprise FM Trust
36
 
Enterprise FM Trust
37
 
Enterprise FM Trust
38
 
Enterprise FM Trust
39
 
Enterprise FM Trust
40
 
Enterprise FM Trust


Exhibit 3 to Attachment A
Page 2 of 4

Sample
Lease Number
 
Owner
     
41
 
Enterprise FM Trust
42
 
Enterprise FM Trust C/O
43
 
Enterprise FM Trust
44
 
Enterprise FM Trust
45
 
Enterprise FM Trust
46
 
Enterprise FM Trust
47
 
Enterprise FM Trust
48
 
Enterprise FM Trust LSR                                              LSE
49
 
Enterprise FM Trust
50
 
Enterprise FM Trust
51
 
Enterprise FM Trust
52
 
Enterprise FM Trust LSR                                LSE
53
 
Enterprise FM Trust
54
 
Enterprise FM Trust LSR                              LSE
55
 
Enterprise FM Trust
56
 
Enterprise FM Trust
57
 
Enterprise FM Trust
58
 
Enterprise FM INC
59
 
Enterprise FM Trust LSR                             LSE
60
 
Enterprise FM Trust
61
 
Enterprise FM Trust
62
 
Enterprise FM Trust
63
 
Enterprise FM Trust LSR                                            LSE
64
 
Enterprise FM Trust
65
 
Enterprise FM Trust
66
 
Enterprise FM Trust
67
 
Enterprise FM Trust
68
 
Enterprise FM Trust
69
 
Enterprise FM Trust
70
 
Enterprise FM Trust
71
 
Enterprise FM Trust
72
 
Enterprise FM Trust
73
 
Enterprise FM Trust, Lessor
74
 
Enterprise FM Trust
75
 
Enterprise FM Trust
76
 
Enterprise FM Trust
77
 
Enterprise FM Trust LSR                                       LSE
78
 
Enterprise FM Trust
79
 
Enterprise FM Trust
80
 
Enterprise FM Trust LSR                             LSE
81
 
Enterprise FM Trust


Exhibit 3 to Attachment A
Page 3 of 4

Sample
Lease Number
 
Owner
     
82
 
Enterprise FM Trust
83
 
Enterprise FM Trust
84
 
Enterprise FM Trust
85
 
Enterprise FM Trust
86
 
Enterprise FM Trust
87
 
Enterprise FM Trust
88
 
Enterprise FM Trust
89
 
Enterprise FM Trust, Lessor
90
 
Enterprise FM Trust LSR                           LSE
91
 
Enterprise FM Trust
92
 
Enterprise FM Trust
93
 
Enterprise FM Trust
94
 
Enterprise FM Trust
95
 
Enterprise FM Trust
96
 
Enterprise FM Trust
97
 
Enterprise FM Trust LSR                                       LSE
98
 
Enterprise FM Trust
99
 
Enterprise FM Trust
100
 
Enterprise FM Trust LSR                          LSE
101
 
Enterprise FM Trust LSR                                 LSE
102
 
Enterprise FM Trust LSR                                       LSE
103
 
Enterprise FM Trust LSR
104
 
Enterprise FM Trust
105
 
Enterprise FM Trust LSR                                          LSE
106
 
Enterprise FM Trust LSR                                      LSE
107
 
Enterprise FM Trust
108
 
Enterprise FM Trust LSR                              LSE
109
 
Enterprise FM Trust LSR                                  LSE
110
 
Enterprise FM Trust
111
 
Enterprise FM INC
112
 
Enterprise FM Trust LSR                                       LSE
113
 
Enterprise FM Trust LSR                                       LSE
114
 
Enterprise FM Trust
115
 
Enterprise FM Trust
116
 
Enterprise FM Trust
117
 
Enterprise FM Trust Inc
118
 
Enterprise FM Trust
119
 
Enterprise FM Trust
120
 
Enterprise FM Trust
121
 
Enterprise FM Trust
122
 
Enterprise FM Trust


Exhibit 3 to Attachment A
Page 4 of 4

Sample
Lease Number
 
Owner
     
123
 
Enterprise FM Trust
124
 
Enterprise FM Trust LSR                                       LSE
125
 
Enterprise FM Trust
126
 
Enterprise FM Trust
127
 
Enterprise FM Trust
128
 
Enterprise FM Trust
129
 
Enterprise FM Trust
130
 
Enterprise FM Trust
131
 
Enterprise FM Trust LSR
132
 
Enterprise FM Trust
133
 
Enterprise FM Trust
134
 
Enterprise FM Trust LSR                               LSE
135
 
Enterprise FM Trust LSR                           LSE
136
 
Enterprise FM Trust
137
 
Enterprise FM Trust
138
 
Enterprise FM Trust
139
 
Enterprise FM Trust %                             LLC
140
 
Enterprise FM Trust
141
 
Enterprise FM Trust
142
 
Enterprise FM Trust
143
 
Enterprise FM Trust
144
 
Enterprise FM Trust
145
 
Enterprise FM Trust
146
 
Enterprise FM Trust
147
 
Enterprise FM Trust LSR
148
 
Enterprise FM Trust
149
 
Enterprise FM Trust
150
 
Enterprise FM Trust


Exhibit 4 to Attachment A
Page 1 of 5

Loss Payee and Additional Insured Name
 
Sample
Lease Number
 
Loss Payee and Additional Insured Name
     
1
 
Enterprise FM Trust
2
 
Enterprise FM Trust
3
 
Enterprise FM Trust
4
 
Enterprise FM Trust
5
 
Enterprise FM Trust
6
 
Enterprise FM Trust
7
 
Enterprise FM Trust
8
 
EHI Physical Damage Plan and Liability Plan
9
 
EHI Physical Damage Plan and Liability Plan
10
 
Enterprise FM Trust
11
 
Enterprise FM Trust
12
 
Enterprise FM Trust
13
 
EHI Physical Damage Plan and Liability Plan
14
 
Enterprise FM Trust
15
 
Enterprise FM Trust
16
 
Enterprise FM Trust
17
 
Enterprise FM Trust
18
 
Enterprise FM Trust
19
 
Enterprise FM Trust
20
 
EHI Physical Damage Plan and Liability Plan
21
 
EHI Physical Damage Plan and Liability Plan
22
 
Enterprise FM Trust
23
 
Enterprise FM Trust
24
 
Enterprise FM Trust
25
 
Enterprise FM Trust
26
 
Enterprise FM Trust
27
 
EHI Physical Damage Plan and Liability Plan
28
 
Enterprise FM Trust
29
 
Enterprise FM Trust
30
 
Enterprise FM Trust
31
 
Enterprise FM Trust
32
 
Enterprise FM Trust
33
 
Self-Insured (physical damage) and Enterprise FM Trust (liability)
34
 
Enterprise FM Trust
35
 
Enterprise FM Trust


Exhibit 4 to Attachment A
Page 2 of 5

Sample
Lease Number
 
Loss Payee and Additional Insured Name
     
36
 
Enterprise FM Trust
37
 
Enterprise FM Trust
38
 
Enterprise FM Trust
39
 
Enterprise FM Trust (physical damage only)
40
 
EHI Physical Damage Plan and Liability Plan
41
 
Enterprise FM Trust
42
 
EHI Physical Damage Plan and Liability Plan
43
 
Enterprise FM Trust
44
 
Enterprise FM Trust
45
 
Enterprise FM Trust
46
 
Enterprise FM Trust
47
 
Enterprise FM Trust
48
 
Enterprise FM Trust
49
 
Enterprise FM Trust
50
 
Enterprise FM Trust
51
 
Enterprise FM Trust
52
 
Self-Insured (physical damage and liability)
53
 
Enterprise FM Trust
54
 
Enterprise FM Trust
55
 
Enterprise FM Trust
56
 
Enterprise FM Trust
57
 
Self-Insured (physical damage) and Enterprise FM Trust (liability)
58
 
Enterprise FM Trust
59
 
Enterprise FM Trust
60
 
Enterprise FM Trust
61
 
EHI Physical Damage Plan and Liability Plan
62
 
Enterprise FM Trust
63
 
Enterprise FM Trust
64
 
EHI Physical Damage Plan and Liability Plan
65
 
Enterprise FM Trust
66
 
Enterprise FM Trust
67
 
Enterprise FM Trust
68
 
Self-Insured (physical damage) and Enterprise FM Trust (liability)
69
 
Enterprise FM Trust
70
 
Enterprise FM Trust
71
 
Self-Insured (physical damage and liability)
72
 
Enterprise FM Trust


Exhibit 4 to Attachment A
Page 3 of 5

Sample
Lease Number
 
Loss Payee and Additional Insured Name
     
73
 
Enterprise FM Trust
74
 
Enterprise FM Trust
75
 
Enterprise FM Trust
76
 
EHI Physical Damage Plan and Liability Plan
77
 
Enterprise FM Trust
78
 
Enterprise FM Trust
79
 
EHI Physical Damage Plan and Self-Insured (liability only)
80
 
Enterprise FM Trust
81
 
Enterprise FM Trust
82
 
Enterprise FM Trust
83
 
Enterprise FM Trust
84
 
Enterprise FM Trust
85
 
Enterprise FM Trust
86
 
Self-Insured (physical damage) and Enterprise FM Trust (liability)
87
 
Enterprise FM Trust
88
 
Enterprise FM Trust
89
 
Enterprise FM Trust
90
 
Enterprise FM Trust
91
 
Enterprise FM Trust
92
 
Enterprise FM Trust
93
 
Enterprise FM Trust
94
 
Enterprise FM Trust
95
 
Self-Insured (physical damage) and Enterprise FM Trust (liability)
96
 
Enterprise FM Trust
97
 
Enterprise FM Trust
98
 
Enterprise FM Trust
99
 
Enterprise FM Trust
100
 
Enterprise FM Trust
101
 
Enterprise FM Trust
102
 
Enterprise FM Trust
103
 
Enterprise FM Trust
104
 
Enterprise FM Trust
105
 
EHI Physical Damage Plan and Liability Plan
106
 
Enterprise FM Trust
107
 
Enterprise FM Trust
108
 
EHI Physical Damage Plan and Liability Plan
109
 
Self-Insured (physical damage) and Enterprise FM Trust (liability)


Exhibit 4 to Attachment A
Page 4 of 5

Sample
Lease Number
 
Loss Payee and Additional Insured Name
     
110
 
Enterprise FM Trust
111
 
Enterprise FM Trust
112
 
Enterprise FM Trust
113
 
Enterprise FM Trust
114
 
Enterprise FM Trust
115
 
Enterprise FM Trust
116
 
Enterprise FM Trust
117
 
Enterprise FM Trust
118
 
Enterprise FM Trust
119
 
Enterprise FM Trust
120
 
Enterprise FM Trust
121
 
Enterprise FM Trust
122
 
EHI Physical Damage Plan
123
 
Enterprise FM Trust
124
 
Enterprise FM Trust
125
 
Enterprise FM Trust
126
 
Enterprise FM Trust
127
 
Enterprise FM Trust
128
 
EHI Physical Damage Plan and Liability Plan
129
 
Enterprise FM Trust
130
 
Enterprise FM Trust
131
 
Self-Insured (physical damage) and Enterprise FM Trust (liability)
132
 
EHI Physical Damage Plan and Liability Plan
133
 
Enterprise FM Trust
134
 
EHI Physical Damage Plan and Liability Plan
135
 
Self-Insured (physical damage and liability)
136
 
Enterprise FM Trust
137
 
EHI Physical Damage Plan and Liability Plan
138
 
Enterprise FM Trust
139
 
Enterprise FM Trust
140
 
Enterprise FM Trust
141
 
Enterprise FM Trust
142
 
Enterprise FM Trust
143
 
Enterprise FM Trust
144
 
Enterprise FM Trust
145
 
Enterprise FM Trust
146
 
Enterprise FM Trust


Exhibit 4 to Attachment A
Page 5 of 5

Sample
Lease Number
 
Loss Payee and Additional Insured Name
     
147
 
Enterprise FM Trust
148
 
Enterprise FM Trust
149
 
Enterprise FM Trust
150
 
Self-Insured (physical damage and liability)

Notes:

i.
For the purpose of the procedure described in Item 3.f. of Attachment A for Sample Leases that have System Screen Shots that indicate “Enterprise Enrollment Coverage” as the insurance carrier for both physical damage insurance and liability insurance, the Sponsor, on behalf of the Issuer, instructed us to use “EHI Physical Damage Plan and Liability Plan” for the loss payee name and additional insured name.
ii.
For the purpose of the procedure described in Item 3.f. of Attachment A for Sample Leases that have System Screen Shots that indicate “Enterprise Enrollment Coverage” as the insurance carrier for physical damage insurance only, the Sponsor, on behalf of the Issuer, instructed us to use “EHI Physical Damage Plan” for the loss payee name.

We performed no procedures to determine the accuracy, completeness or reasonableness of the instructions provided by the Sponsor, on behalf of the Issuer, described in the notes above.