EX-99.1 2 tm2521327d42_ex99-1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

World Omni Automobile Lease Securitization Trust 2025-A PAGE 1
MONTHLY SERVICER CERTIFICATE  
For the collection period ended 06/30/2025  

 

A.  DATES  Begin  End    # days 
  
1  Payment Date     7/15/2025      
2  Collection Period  6/1/2025  6/30/2025    30 
3  Monthly Interest Period-Actual  6/16/2025  7/14/2025    29 
4  Monthly Interest - Scheduled  6/15/2025  7/14/2025    30 

 

B.   SUMMARY                                                      

 

               Principal Payment         
       Initial Balance   Beginning Balance   1st Priority   2nd Priority   Regular   Ending Balance   Note Factor 
5   Class A-1 Notes   130,000,000.00    37,224,299.02    -    -    20,564,307.62    16,659,991.40    0.1281538 
6   Class A-2a Notes   167,000,000.00    167,000,000.00    -    -    -    167,000,000.00    1.0000000 
7   Class A-2b Notes   153,000,000.00    153,000,000.00    -    -    -    153,000,000.00    1.0000000 
8   Class A-3 Notes   320,000,000.00    320,000,000.00    -    -    -    320,000,000.00    1.0000000 
9   Class A-4 Notes   69,590,000.00    69,590,000.00    -    -    -    69,590,000.00    1.0000000 
10   Total Class A Notes   839,590,000.00    746,814,299.02    -    -    20,564,307.62    726,249,991.40      
11   Class B Notes   57,110,000.00    57,110,000.00    -    -    -    57,110,000.00    1.0000000 
                                        
12    Total Notes  $896,700,000.00    803,924,299.02   $0.00   $0.00   $20,564,307.62    783,359,991.40      
                                        
    Overcollateralization                                   
13   Exchange Note   62,307,164.81    57,830,761.32                   56,596,902.86      
14   Series 2025-A Notes   79,445,582.01    102,090,961.69                   103,324,820.15      
                                        
15   Total Overcollateralization   141,752,746.82    159,921,723.01                   159,921,723.01      
16   Total Target Overcollateralization  $159,921,723.01    159,921,723.01                   159,921,723.01      

 

              Coupon Rate     Interest Pmt Due     Per $1000
Face Amount
    Principal
Payment Due
    Per $1000
Face Amount
    Interest
Shortfall
   
17   Class A-1 Notes     4.41800%  132,479.21   1.0190708   20,564,307.62   158.1869817   0.00   
18   Class A-2a Notes     4.35000%  605,375.00   3.6250000   0.00   0.0000000   0.00   
19   Class A-2b Notes  4.30385% 4.69385%  578,517.01   3.7811569   0.00   0.0000000   0.00   
20   Class A-3 Notes     4.42000%  1,178,666.67   3.6833333   0.00   0.0000000   0.00   
21   Class A-4 Notes     4.49000%  260,382.58   3.7416666   0.00   0.0000000   0.00   
22   Total Class A Notes         2,755,420.47   3.2818643   20,564,307.62   24.4932736   0.00   
23   Class B Notes     4.68000%  222,729.00   3.9000000   0.00   0.0000000   0.00   
                                  
24   Totals         2,978,149.47   3.3212328   20,564,307.62   22.9333195   0.00   
       Initial Balance   Beginning Balance               Ending Balance   
25   Exchange Note Balance  976,145,582.01   906,015,260.71               886,684,811.55   

 

    Reference Pool Balance Data  Initial   Current               
26   Discount Rate   10.00%   10.00%               
27   Aggregate Securitization Value   1,038,452,746.82    943,281,714.41                
28   Aggregate Base Residual Value (Not Discounted)   753,302,967.59    712,704,691.01                
                              
    Turn-in Units   Units    Securitization Value   Percentage           
29   Vehicles Scheduled to Return in Current Month   93    509,641.51                
30   Turn-in Ratio on Scheduled Terminations             1.08%          
                              
        Units    Securitization Value                
31   Securitization Value — Beginning of Period   30,797    963,846,022.03                
32   Depreciation/Payments        (7,845,193.02)               
33   Gross Credit Losses   (55)   (1,848,159.87)               
34   Early Terminations — Regular   (7)   (217,677.95)               
35   Scheduled Terminations — Returned   (2)   (45,629.45)               
36   Payoff Units & Lease Reversals   (346)   (10,607,647.33)               
37   Repurchased Leases   -    -                
                              
38   Securitization Value - End of Period   30,387    943,281,714.41                

 

 

 

 

World Omni Automobile Lease Securitization Trust 2025-A PAGE 2
MONTHLY SERVICER CERTIFICATE  
For the collection period ended 06/30/2025  

 

C.  SERVICING FEE            
              
39  Servicing Fee Due   803,205.02         
                 
40  Unpaid Servicing Fees - Prior Collection Periods   0.00         
                 
41  Change in Servicing Fee Due - Current Collection Period vs. Prior Collection Period   (17,278.13)        
                 
D.  RESERVE ACCOUNT             
                 
   Reserve Account Balances:             
42  Required Reserve Account Balance (0.50% of Initial Securitization Value)   5,192,263.73         
43  Beginning Reserve Account Balance   5,192,263.73         
44  Ending Reserve Account Balance   5,192,263.73         

 

E.  POOL STATISTICS                
                    
   Delinquencies Aging Profile — End of Period  Units   Percentage   Securitization Value     
45  Total Active Units (Excluding Inventory)   29,989    98.88%   929,413,859.10          
46  31 - 60 Days Delinquent   257    0.85%   8,916,677.54          
47  61 - 90 Days Delinquent   73    0.24%   2,594,279.36          
48  91 -120 Days Delinquent   10    0.03%   409,145.95          
49  121+ Days Delinquent   -    -    -          
                            
50  Total   30,329    100.00%   941,333,961.95          
                            
51  Total 61+ Delinquent as % End of Period Securitization Value                      0.32%
52  Delinquency Trigger Occurred                      NO 
                            
53  Prepayment Speed (1 Month)                      0.00%

 

   Current Period Net Residual Losses/(Gains) on Scheduled and Early Termination Units  Units   Amounts 
            
54  Aggregate Securitization Value for Scheduled and Early Termination Units Terminated During Current Period   9    263,307.40 
55  Less: Aggregate Sales Proceeds, Recoveries & Expenses for Scheduled and Early Termination Units Received in Current Period        (278,091.16)
56  Less: Excess Wear and Tear Received in Current Period        (304.14)
57  Less: Excess Mileage Received in Current Period        (262.46)
              
58  Current Period Net Residual Losses/(Gains) - Scheduled and Early Termination Units        (15,350.36)
              
   Current and Prior Period Net Residual Losses/(Gains) as a % of Beginning Securitization Value  (Annualized)          
59  Current Period Net Residual Losses/(Gains) Ratio        -0.02%
60  Prior Period Net Residual Losses/(Gains) Ratio        -0.04%
61  Second Prior Period Net Residual Losses/(Gains) Ratio        -0.01%
62  Third Prior Period Net Residual Losses/(Gains) Ratio        0.03%
63  Four Month Average        -0.01%
              
64  Beginning Cumulative Net Residual Losses/(Gains)        (15,232.23)
65  Current Period Net Residual Losses/(Gains)        (15,350.36)
              
66  Ending Cumulative Net Residual Losses/(Gains) - Scheduled and Early Termination Units        (30,582.59)
              
67  Cumulative Net Residual Losses/(Gains) as a % of Aggregate Initial Securitization Value        0.00%
              
              
   Credit Losses/(Gains):   Units    Amounts 
68  Aggregate Securitization Value on charged-off units   55    1,848,159.87 
69  Aggregate Liquidation Proceeds, Recoveries & Expenses on charged-off units        (1,369,719.85)
              
70  Current Period Net Credit Losses/(Gains)        478,440.02 
              
   Current and Prior Period Net Credit Losses/(Gains) as a % of Beginning Securitization Value (Annualized)          
71  Current Period Net Credit Losses/(Gains) Ratio        0.60%
72  Prior Period Net Credit Losses/(Gains) Ratio        0.35%
73  Second Prior Period Net Credit Losses/(Gains) Ratio        0.26%
74  Third Prior Period Net Credit Losses/(Gains) Ratio        0.25%
75  Four Month Average        0.37%
              
76  Beginning Cumulative Net Credit Losses/(Gains)        715,913.54 
77  Current Period Net Credit Losses/(Gains)        478,440.02 
              
78  Ending Cumulative Net Credit Losses/(Gains)        1,194,353.56 
              
79  Cumulative Net Credit Losses/(Gains) as a % of Aggregate Initial Securitization Value        0.12%

 

 

 

 

World Omni Automobile Lease Securitization Trust 2025-A PAGE 3
MONTHLY SERVICER CERTIFICATE  
For the collection period ended 06/30/2025  

 

F.  EXCHANGE NOTE COLLECTION ACCOUNT            
                
   COLLECTED AMOUNTS        
          
80  Lease Payments Received   15,781,309.07         
81  Sales Proceeds, Recoveries & Expenses - Scheduled Terminations   53,171.25         
82  Liquidation Proceeds, Recoveries & Expenses   1,129,694.68         
83  Insurance Proceeds   240,025.17         
84  Sales Proceeds, Recoveries & Expenses - Early Terminations   225,486.51         
85  Payoff Payments   11,904,780.72         
86  All Other Payments Received   -         
                 
87  Collected Amounts   29,334,467.40         
                 
88  Investment Earnings on Collection Account   92,696.87         
                 
89  Total Collected Amounts - Available for Distribution   29,427,164.27         
                 
   DISTRIBUTIONS FROM EXCHANGE NOTE COLLECTION ACCOUNT             
                 
90  Servicing Fee   803,205.02         
91  Interest on the Exchange Note - to the Trust Collection Account   3,533,459.52         
92  Principal on the Exchange Note - to the Trust Collection Account   19,330,449.16         
93  Trust Collection Account Shortfall Amount - to the Trust Collection Account   5,760,050.57         
94  Remaining Funds Payable to Trust Collection Account   -         
                 
95  Total Distributions   29,427,164.27         
                 
G.  TRUST COLLECTION ACCOUNT             
                 
   AVAILABLE FUNDS             
                 
96  Available Funds   28,623,959.25         
                 
97  Investment Earnings on Reserve Account   18,204.21         
                 
98  Reserve Account Draw Amount   -         
                 
99  Total Available Funds - Available for Distribution   28,642,163.46         
                 
   DISTRIBUTIONS FROM TRUST COLLECTION ACCOUNT             
                 
100  Administration Fee   40,160.25         
101  Asset Representation Reviewer Amounts (up to $150,000 per year)   -         
102  Class A Noteholders' Interest Distributable Amount   2,755,420.47         
103  Noteholders' First Priority Principal Distributable Amount   -         
104  Class B Noteholders' Interest Distributable Amount   222,729.00         
105  Noteholders' Second Priority Principal Distributable Amount   -         
106  Amount to Reinstate Reserve Account to Required Reserve Account Balance   -         
107  Noteholders' Regular Principal Distributable Amount   20,564,307.62         
108  Asset Representation Reviewer Amounts (in excess of $150,000 per year)   -         
109  Remaining Funds Payable to Certificate holder   5,059,546.12         
                 
110  Total Distributions   28,642,163.46         
                 
   COMPLIANCE WITH EUROPEAN UNION RISK RETENTION RULES             

 

World Omni Financial Corp. (“World Omni”), as “originator” for the purposes of the EU Securitization Rules (as defined in the Indenture), continues to retain, a material net economic interest (the “EU Retained Interest”), in the form of retention of a first loss tranche as described in option (d) of Article 6(3) of the EU Securitization Regulation, by holding (i) all the limited liability company interests in World Omni Auto Leasing LLC (“WOAL”), which in turn retains the Certificates (as defined in the Indenture) issued by World Omni Automobile Lease Securitization Trust 2025-A, and (ii) the residual interest in the 2025-A Reference Pool (as defined in the Indenture), such Certificates and interest, collectively representing at least 5% of the aggregate Securitization Value of the Units in the 2025-A Reference Pool (each as defined in the Indenture). World Omni has not (and has not permitted WOAL or any of its other affiliates to hedge or otherwise mitigate its credit risk under or associated with the EU Retained Interest, or sell, transfer or otherwise surrender all or part of the rights, benefits or obligations arising from the EU Retained Interest) hedged or otherwise mitigated its credit risk under or associated with the EU Retained Interest, or sold, transferred or otherwise surrendered all or part of the rights, benefits or obligations arising from the EU Retained Interest, except, in each case, to the extent permitted in accordance with the EU Securitization Rules. Further, World Omni has not changed the retention option or method of calculating the EU Retained Interest.