EX-99.1 2 ex99-1.htm REPORT OF INDEPENDENT ACCOUNTANTS

 

 

Enterprise Fleet Management, Inc. ABS-15G

 

Exhibit 99.1

 

Enterprise Fleet Financing 2020-1, LLC

Series 2020-1 Asset Backed Notes

Sample Lease Agreed-Upon Procedures

 

Report To:

Enterprise Fleet Financing 2020-1, LLC

Enterprise Fleet Management, Inc.

 

31 January 2020

 

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Ernst & Young LLP

5 Times Square

New York, NY 10036−6530

Tel: +1 212 773 3000

Fax: +1 212 773 6350

ey.com

 

Report of Independent Accountants on Applying Agreed-Upon Procedures

 

Enterprise Fleet Financing 2020-1, LLC

Enterprise Fleet Management, Inc.

600 Corporate Park Drive

St. Louis, Missouri 63105

 

Re:       Enterprise Fleet Financing 2020-1, LLC (the “Issuer”)
Series 2020-1 Asset Backed Notes (the “Notes”)
Sample Lease Agreed-Upon Procedures

 

We have performed the procedures enumerated in Attachment A, which were agreed to by the Issuer, Enterprise Fleet Management, Inc. (the “Sponsor”), RBC Capital Markets, LLC (“RBC”), Mizuho Securities USA LLC (“Mizuho”), TD Securities (USA) LLC (“TD Securities”) and Wells Fargo Securities, LLC (“Wells Fargo,” together with the Issuer, Sponsor, RBC, Mizuho and TD Securities, the “Specified Parties”), solely to assist the Specified Parties in evaluating certain information relating to a pool of leases (the “Leases”) and the vehicles subject to those Leases relating to the Issuer’s securitization transaction. This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. The sufficiency of the procedures is solely the responsibility of the Specified Parties. Consequently, we make no representation regarding the sufficiency 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.

 

 

 

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Page 2 of 3

 

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_202001.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 December 2019 (the “Cutoff Date”),

b.

Imaged copies of:

 

i.

The master equity lease agreement, master walkaway 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, certificate of origin for a vehicle, vehicle record, certificate of vehicle registration, multi−purpose application, 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 garage insurance, certificate of property insurance, additional insured (lessor) with loss payable clause, commercial auto declarations, business auto coverage form, certificate of coverage, statement of self-insurance, 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.

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

d.

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

 

The procedures included in Attachment A were limited to comparing, recalculating or observing certain information that is further described in Attachment A. The Issuer is responsible for the Data File, Source Documents, 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, Source Documents or any other information provided to us 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 and (c) the 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.

 

 

 

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Page 3 of 3

 

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 American Institute of Certified Public Accountants 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.

 

This report is intended solely for the 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

 

31 January 2020

 

 

 

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Attachment A
Page 1 of 3

 

Procedures performed and our associated findings

 

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 System Screen Shots, 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. All such compared information was 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 on such Credit Review File, was during the 12 month period ending on the Cutoff Date.

 

 

 

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Attachment A
Page 2 of 3

 

3. (continued)

 

 

e.

Observed the party listed as owner name or security interest holder/lessor name (only for Sample Leases which had a Title from the state of Oregon) on the corresponding Title, 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 on 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 or security interest holder/lessor name, as shown on such Title.

 

 

f.

Observed the loss payee name for physical damage insurance and additional insured name for liability insurance on 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 on 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 on 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.

129 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.

10 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.

Four 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 liability insurance coverage and identify “Enterprise FM Trust” as the additional insured,

 

 

 

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Attachment A
Page 3 of 3

 

3. (continued)

 

f. (continued)

 

 

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. The Sponsor, on behalf of the Issuer, indicated that this 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 and

 

viii.

One of the Sample Leases has Insurance Source Documents that indicate physical damage and liability insurance coverage and identify “Enterprise FM Trust” as the additional insured. We were unable to observe a loss payee.

 

We performed no procedures to determine the accuracy, completeness or reasonableness of the information described in this Item that is contained on the Insurance Source Documents or System Screen Shots (as applicable).

 

 

 

Exhibit 1 to Attachment A

Page 1 of 3

Sample Characteristics

  

Sample Characteristic

 

Base Data File Field Name

 

Source Document

 

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

 

System Screen Shots and recalculation

 

v., vii.

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 on 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 on the System Screen Shots.

 

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 on the System Screen Shots, and

 

b.

Ignore differences due to abbreviations, truncations and punctuation.
 
 

Exhibit 1 to Attachment A

Page 2 of 3

Notes: (continued)

 

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 on 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 on 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.

 

vii.

For the purpose of comparing the vehicle residual value Sample Characteristic for each Sample Lease (except for Sample Lease Numbers 49 and 64) (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 on the System Screen Shots.

For the purpose of comparing the vehicle residual value Sample Characteristic for Sample Lease Numbers 49 and 64, 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

from

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

 
 

Exhibit 1 to Attachment A

Page 3 of 3

Notes: (continued)

 

vii. (continued)

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, as shown on the System Screen Shots, is a negative value, and the recalculations described above reduce the unit delivered price by such accumulated depreciation value.

 

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 on 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

1

 

1/30/2018

3

 

3/30/2017

10

 

9/27/2018

82

 

10/3/2018

113

 

10/12/2018

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

6

 

Enterprise FM Trt LSR/                     LSE

7

 

Enterprise FM Trust

8

 

Enterprise FM Trust

9

 

Enterprise FM Trust

10

 

Enterprise FM Trst LSR                                        LSE

11

 

Enterprise FM Trust

12

 

Enterprise FM Trust

13

 

Enterprise FM Trust

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

 

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 LSR                                                LSE

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 LSR                                          LSE

 

 

 

Exhibit 3 to Attachment A

Page 2 of 4

 

Sample

 

 

Lease Number

 

Owner

 

 

 

38

 

Enterprise FM Trust

39

 

Enterprise FM Trust - Lessor                           - Lessee

40

 

Enterprise FM Trust

41

 

Enterprise FM Trust

42

 

Enterprise FM Trust

43

 

Enterprise FM Trust

44

 

Enterprise FM Trust

45

 

Enterprise FM Trust

46

 

Enterprise FM Trust

47

 

Enterprise FM Trust

48

 

Enterprise FM Trust 234G3V

49

 

Enterprise FM Trust

50

 

Enterprise FM Trust

51

 

Enterprise FM Trust

52

 

Enterprise FM Trust

53

 

Enterprise FM Trust

54

 

Enterprise FM Trust

55

 

Enterprise FM Trust

56

 

Enterprise FM Trust LSR                                                                LSE

57

 

Enterprise FM Trust LSR                                              LSE

58

 

Enterprise FM Trust

59

 

Enterprise FM Trust

60

 

Enterprise FM Trust

61

 

Enterprise FM Trust

62

 

Enterprise FM Trust

63

 

Enterprise FM Trust

64

 

Enterprise FM Trust

65

 

Enterprise FM Trust

66

 

Enterprise FM Trust

67

 

Enterprise FM Trust 235RX4

68

 

Enterprise FM Trust LSR                               LSE

69

 

Enterprise FM Trust LSR                   LSE

70

 

Enterprise FM Trust LSR                              LSE

71

 

Enterprise FM Trust

72

 

Enterprise FM Trust

73

 

Enterprise FM Trust

74

 

Enterprise FM Trust

75

 

Enterprise FM Trust LSR                                             LSE

76

 

Enterprise FM Trust Lessor

 

 

 

Exhibit 3 to Attachment A

Page 3 of 4

 

Sample

 

 

Lease Number

 

Owner

 

 

 

77

 

Enterprise FM Trust

78

 

Enterprise FM Trust

79

 

Enterprise FM Trust

80

 

Enterprise FM Trust

81

 

Enterprise FM Trst LSR                                   LSE

82

 

Enterprise FM Trust

83

 

Enterprise FM Trust

84

 

Enterprise FM Trust 236ZQN

85

 

Enterprise FM Trust

86

 

Enterprise FM Trust

87

 

Enterprise FM Trust

88

 

Enterprise FM Trust

89

 

Enterprise FM Trust

90

 

Enterprise FM Trust

91

 

Enterprise FM Trust LSR                                         LSE

92

 

Enterprise FM Trust

93

 

Enterprise FM Trust

94

 

Enterprise FM Trust

95

 

Enterprise FM Trust LSR                            LSE

96

 

Enterprise FM Trust

97

 

Enterprise FM Trust LSR                                  LSE

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

 

Enterprise FM Trust

106

 

Enterprise FM Trust

107

 

Enterprise FM Inc

108

 

Enterprise FM Trust

109

 

                              Lessee                               Lessee Enterprise FM Trust Lessor

110

 

Enterprise FM Trust LSR                              LSE

111

 

Enterprise FM Trust

112

 

Enterprise FM Trust

113

 

Enterprise FM Trust

114

 

Enterprise FM Trust

115

 

Enterprise FM Trust                                       LSE

 

 

 

Exhibit 3 to Attachment A

Page 4 of 4

 

Sample

 

 

Lease Number

 

Owner

 

 

 

116

 

Enterprise FM Trust

117

 

Enterprise FM Trust

118

 

Enterprise FM Trust LSR                       LSE

119

 

Enterprise FM Trust LSR          LSE

120

 

Enterprise FM Trust

121

 

Enterprise FM Trust

122

 

Enterprise FM Trust

123

 

Enterprise FM Trust

124

 

Enterprise FM Trust

125

 

Enterprise FM Trust

126

 

Enterprise FM Trust

127

 

Enterprise FM Trust

128

 

Enterprise FM Trust

129

 

Enterprise FM Trust LSR                                                     LSE

130

 

Enterprise FM Trust

131

 

Enterprise FM Trust

132

 

Enterprise FM Trust

133

 

Enterprise FM Trust

134

 

Enterprise FM Trust (Lessor)

135

 

Enterprise FM Trust LSR                                                  LSE

136

 

Enterprise FM Trust LSR                               LSE

137

 

Enterprise FM Trust

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

147

 

Enterprise FM Trust

148

 

Enterprise FM Trust

149

 

Enterprise FM Trust

150

 

Enterprise FM Trust

 

 

 

Exhibit 4 to Attachment A

Page 1 of 5

 

Loss Payee Name and Additional Insured Name

 

Sample

 

 

Lease Number

 

Loss Payee Name and Additional Insured Name

 

 

 

1

 

Enterprise FM Trust

2

 

Enterprise FM Trust

3

 

Enterprise FM Trust

4

 

Enterprise FM Trust

5

 

Self-Insured (physical damage and liability)

6

 

Enterprise FM Trust

7

 

Enterprise FM Trust

8

 

Enterprise FM Trust (physical damage only)

9

 

Enterprise FM Trust

10

 

Enterprise FM Trust

11

 

Enterprise FM Trust

12

 

Enterprise FM Trust

13

 

Enterprise FM Trust

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

 

Enterprise FM Trust

21

 

Enterprise FM Trust

22

 

Enterprise FM Trust

23

 

Enterprise FM Trust

24

 

EHI Physical Damage Plan and Liability Plan

25

 

Enterprise FM Trust

26

 

Enterprise FM Trust

27

 

EHI Physical Damage Plan and Liability Plan

28

 

Enterprise FM Trust

29

 

EHI Physical Damage Plan and Liability Plan

30

 

Enterprise FM Trust

31

 

Enterprise FM Trust

32

 

Enterprise FM Trust

33

 

Self-Insured (physical damage and liability)

34

 

Enterprise FM Trust

35

 

Self-Insured (physical damage) and Enterprise FM Trust (liability)

 

 

 

Exhibit 4 to Attachment A

Page 2 of 5

 

Sample

 

 

Lease Number

 

Loss Payee Name and Additional Insured Name

 

 

 

36

 

Enterprise FM Trust

37

 

Enterprise FM Trust

38

 

Enterprise FM Trust

39

 

Self-Insured (physical damage) and Enterprise FM Trust (liability)

40

 

Enterprise FM Trust

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

 

Self-Insured (physical damage and liability)

52

 

EHI Physical Damage Plan and Liability Plan

53

 

Enterprise FM Trust

54

 

Enterprise FM Trust

55

 

Enterprise FM Trust

56

 

Enterprise FM Trust

57

 

Enterprise FM Trust

58

 

Enterprise FM Trust

59

 

Enterprise FM Trust

60

 

EHI Physical Damage Plan and Liability Plan

61

 

Enterprise FM Trust

62

 

Enterprise FM Trust

63

 

Enterprise FM Trust

64

 

Enterprise FM Trust

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

 

Enterprise FM Trust

72

 

Enterprise FM Trust

 

 

 

Exhibit 4 to Attachment A

Page 3 of 5

 

Sample

 

 

Lease Number

 

Loss Payee Name 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

 

Enterprise FM Trust

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

 

Enterprise FM Trust (liability only)

87

 

Enterprise FM Trust

88

 

Enterprise FM Trust

89

 

Enterprise FM Trust

90

 

EHI Physical Damage Plan and Liability Plan

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

98

 

Enterprise FM Trust

99

 

EHI Physical Damage Plan and Liability Plan

100

 

Enterprise FM Trust

101

 

Enterprise FM Trust

102

 

Enterprise FM Trust

103

 

Enterprise FM Trust

104

 

Enterprise FM Trust

105

 

Enterprise FM Trust

106

 

Enterprise FM Trust

107

 

Enterprise FM Trust

108

 

Enterprise FM Trust

109

 

Self-Insured (physical damage) and Enterprise FM Trust (liability)

 

 

 

Exhibit 4 to Attachment A

Page 4 of 5

 

Sample

 

 

Lease Number

 

Loss Payee Name 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

 

Self-Insured (physical damage and liability)

119

 

Enterprise FM Trust

120

 

EHI Physical Damage Plan and Liability Plan

121

 

Enterprise FM Trust

122

 

Enterprise FM Trust

123

 

Enterprise FM Trust

124

 

Enterprise FM Trust

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

132

 

Enterprise FM Trust

133

 

Enterprise FM Trust

134

 

Enterprise FM Trust

135

 

Enterprise FM Trust

136

 

Enterprise FM Trust

137

 

Enterprise FM Trust

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 Name and Additional Insured Name

 

 

 

147

 

Enterprise FM Trust

148

 

EHI Physical Damage Plan and Enterprise FM Trust (liability)

149

 

Enterprise FM Trust

150

 

Enterprise FM Trust

 

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.