-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SB4mZ2eg8zDmsxMqe+vUAdyV85ZfvELopyDwqY0WUeN/3hd+4Xu32esq8GcoJTdm Y0tWq2XBik2mH58CiQpPtg== 0000893220-02-000162.txt : 20020414 0000893220-02-000162.hdr.sgml : 20020414 ACCESSION NUMBER: 0000893220-02-000162 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020212 ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020215 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVANTA BUSINESS SERVICES CORP CENTRAL INDEX KEY: 0001047607 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 232333786 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-38575 FILM NUMBER: 02550656 BUSINESS ADDRESS: STREET 1: 1020 LAUREL OAK ROAD STREET 2: P O BOX 1228 CITY: VOORHEES STATE: NJ ZIP: 08043-7228 BUSINESS PHONE: 6097827300 MAIL ADDRESS: STREET 1: 1020 LAUREL OAK ROAD STREET 2: P O BOX 1228 CITY: VOORHEES STATE: NJ ZIP: 08043-7228 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVANTA LEASING RECEIVABLES CORP V CENTRAL INDEX KEY: 0001054565 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 880387073 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-38575-02 FILM NUMBER: 02550657 BUSINESS ADDRESS: STREET 1: 1325 AIRMOTIVE WAY CITY: RENO STATE: NV ZIP: 89502 BUSINESS PHONE: 7023222221 MAIL ADDRESS: STREET 1: 1020 LAUREL OAK ROAD CITY: VOORHEES STATE: NJ ZIP: 08043-7208 FORMER COMPANY: FORMER CONFORMED NAME: ADVANTA BUSINESS RECEIVABLES LLC DATE OF NAME CHANGE: 19980204 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVANTA LEASING RECEIVABLES CORP IV CENTRAL INDEX KEY: 0001054566 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 880387072 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-38575-01 FILM NUMBER: 02550658 BUSINESS ADDRESS: STREET 1: 1325 AIRMOTIVE WAY CITY: RENO STATE: NV ZIP: 89502 BUSINESS PHONE: 7023222221 MAIL ADDRESS: STREET 1: 1020 LAUREL OAK ROAD CITY: VOORHEES STATE: NJ ZIP: 08043-7208 FORMER COMPANY: FORMER CONFORMED NAME: ADVANTA LEASING RECEIVABLES III DATE OF NAME CHANGE: 19980204 8-K 1 w55849de8-k.txt FORM 8-K FOR ADVANTA BUSINESS SERVICES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 February 12, 2002 ADVANTA BUSINESS SERVICES CORP. ------------------------------------------------------ (Exact name of registrant as specified in its charter) Delaware 333-38575 23-2333786 - --------------------------------------- ---------------- ------------------------------- (State or Other (Commission File (I.R.S. Employer Identification Jurisdiction of Incorporation) Number) No.) 1020 Laurel Oak Road Voorhees, New Jersey 08043 - --------------------------------------- ------------------------------ (Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (609) 782-7300 -------------- No Change ----------------------------------------------------------------- (Former name or former address, if changed since last report) ADVANTA LEASING RECEIVABLES CORP. IV ------------------------------------------------------ (Exact name of registrant as specified in its charter) Nevada 333-38575-01 88-0387072 -------------------------------------------- --------------- ------------------------------- (State or Other Jurisdiction of Incorporation) (Commission File (I.R.S. Employer Identification Number) No.) 1325 Airmotive Way Reno, Nevada 89502 - --------------------------------------------- ---------- (Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (702) 322-2221 -------------- No Change ------------------------------------------------------------- (Former name or former address, if changed since last report) ADVANTA LEASING RECEIVABLES CORP. V ------------------------------------------------------ (Exact name of registrant as specified in its charter) Nevada 333-38975-02 88-0387073 -------------------------------------------- --------------- ------------------------------- (State or Other Jurisdiction of Incorporation) (Commission File (I.R.S. Employer Identification Number) No.) 1325 Airmotive Way Reno, Nevada 89502 - --------------------------------------------- ---------- (Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (702) 322-2221 -------------- No Change ------------------------------------------------------------- (Former name or former address, if changed since last report) Item 7. Financial Statements and Exhibits The following exhibit is furnished herewith: 21 Monthly Servicer's Certificate issued on February 12, 2002 relating to the Equipment Receivables Asset-Backed Notes, Series 1998-1, prepared by the Servicer and sent to the Trustee pursuant to Section 3.06(a) of the Series 1998-1 Supplement dated as of April 14, 1998 covering the period of January 1, 2002 through January 31, 2002. 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. ADVANTA BUSINESS SERVICES CORP., As Registrant By /s/ MARK SHAPIRO ------------------------------- Name: Mark Shapiro Title: Assistant Treasurer Dated: February 12, 2002 4 Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. ADVANTA LEASING RECEIVABLES CORP. IV, As Registrant By /s/ MARK SHAPIRO ------------------------------- Name: Mark Shapiro Title: Treasurer Dated: February 12, 2002 5 Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. ADVANTA LEASING RECEIVABLES CORP. V, As Registrant By /s/ MARK SHAPIRO ------------------------------- Name: Mark Shapiro Title: Treasurer Dated: February 12, 2002 6 Exhibit Index
Exhibit No. Page - ----------- ---- 21.1 Monthly Servicer's Certificate dated February 12, 2002 prepared by the Servicer and sent to the Trustee pursuant to Section 3.06(a) of the Series 1998-1 Supplement covering the period of January 1, 2002 through January 31, 2002.
7 EX-21.1 3 w55849dex21-1.txt MONTHLY SERVICERS CERTIFICATE ASSET-BACKED FINANCING FACILITY ADVANTA BUSINESS SERVICES CORP., AS SERVICER MONTHLY SERVICER CERTIFICATE COLLECTION PERIOD: January 1, 2002 - January 31, 2002 ---------------------------------- SETTLEMENT DATE: 15-Feb-02 ------------------------ A. SERIES INFORMATION ADVANTA LEASING RECEIVABLES CORP. IV and ADVANTA LEASING RECEIVABLES CORP. V EQUIPMENT RECEIVABLES ASSET-BACKED NOTES, SERIES 1998-1 I. SERIES INFORMATION INCLUDING PLEDGED PROPERTY CONVEYED (a.) Beginning Aggregate Contract Principal Balance ("ACPB") $ 31,391,673.84 ---------------- (b.) Contract Principal Balance of all Collections allocable to Contracts $ 2,806,194.14 ---------------- (c.) Contract Principal Balance of Charged-Off Contracts $ 220,862.65 ---------------- (d.) Total decline in Principal Balance $ 3,027,056.79 ---------------- (e.) Ending Aggregate Contract Principal Balance of all Contracts as of this Settlement Date $ 28,364,617.05 ---------------- BALANCES ON THIS SETTLEMENT DATE AFTER PAYMENT ON THE RELATED PAYMENT DATE (f.) Class A Principal Balance as of this Settlement Date $ 18,839,606.41 ---------------- (Class A Note Factor) 0.0568829 ------------ (g1.) Class A-1 Principal Balance (Note Factor) 0.0000000 - ------------ ---------------- (g2.) Class A-2 Principal Balance (Note Factor) 0.0000000 $ - ------------ ---------------- (g3.) Class A-3 Principal Balance (Note Factor) 0.0000000 $ 0.00 ------------ ---------------- (g4.) Class A-4 Principal Balance (Note Factor) 0.4104489 $ 18,839,606.41 ------------ ---------------- (h.) Class B Principal Balance as of this Settlement Date $ - ---------------- (Class B Note Factor) 0.0000000 ------------ (i.) Class C Principal Balance as of this Settlement Date $ - ---------------- (Class C Note Factor) 0.0000000 ------------ (l.) Class D Principal Balance as of this Settlement Date $ 9,525,010.64 ---------------- (Class D Note Factor) 0.6349878 ------------ II. COMPLIANCE RATIOS (a.) Aggregate Contract Balance Remaining ("CBR") of all Contracts as of the related Calculation Date $ 29,986,012.12 ---------------- (b1.) % of CBR 31 days or more delinquent as of the related Calculation Date 7.42% ---------------- (b2.) Preceeding Month %: Dec-01 8.20% -------- ---------------- (b3.) 2nd Preceeding Month %: Nov-01 7.91% -------- ---------------- (b4.) Three month rolling average % of CBR 31 days or more delinquent 7.84% ---------------- (c.) Does the three month rolling average % of CBR which are 31 days or more delinquent exceed 105%? Y or N NO ---------------- (Amortization Period Only) (d) Cumulative Net Loss Percentage as of the related Collection Period 3.11% ---------------- Does the Cumulative Net Loss Percentage exceed (d1.) 40% from the Beginning Period to and including 12th Collection Period? Y or N N/A ---------------- (d2.) 55 % from 13th Collection Period to and including 24th Collection Period? Y or N N/A ---------------- (d3.) 70 % from 25th Collection Period and thereafter? Y or N NO ---------------- (If Yes to e1 or e2 or e3, then a Residual Event occurs) (e1.) Residual Realization for the related Collection Period > 100% (YES/NO) YES ---------------- (e2.) Preceeding Month: Dec-01 > 100% (YES/NO) YES -------- ---------------- (e3.) 2nd Preceeding Month: Nov-01 > 100% (YES/NO) YES -------- ---------------- (e4.) Three month rolling average Residual Realization Ratio > 100% (YES/NO) YES (If less than 100%, then a Residual Event Occurs) ---------------- III. FLOW OF FUNDS The amount of available funds on deposit in the Series 1998-1 Facility Account $ 3,924,891.17 ---------------- (1) On the Payment Date which is also the Amortization Date and each Payment Date thereafter (a.) To the Servicer, Unrecoverable Servicer Advances 96,866.32 ---------------- (b.) To the Servicer, if ABS is not the Servicer, Servicing Fee and Ancillary Servicing Income, if any ---------------- To Series 1998-1 Noteholders:
Page 1 of 3 (c.) To Class A, the total Class A Note Interest and Class A Overdue Interest for the related period $ 108,968.87 ---------------- Interest on Class A-1 Notes $ - ---------------- Interest on Class A-2 Notes $ - ---------------- Interest on Class A-3 Notes $ - ---------------- Interest on Class A-4 Notes $ 108,968.87 ---------------- (d.) Interest on Class B Notes for the related period $ - ---------------- (e.) Interest on Class C Notes for the related period $ - ---------------- (f.) To Series 1998-1 Noteholders: To Class A, the total Principal Payment and Class A Overdue Principal, if any 3,027,056.79 ---------------- Principal Payment to Class A-1 Noteholders N/A ---------------- Principal Payment to Class A-2 Noteholders ---------------- Principal Payment to Class A-3 Noteholders $ - ---------------- Principal Payment to Class A-4 Noteholders $ 3,027,056.79 ---------------- To Class B for Principal Payment and Overdue Principal, if any - ---------------- To Class C for Principal Payment and Overdue Principal, if any - ---------------- (g) Overdue Principal (included in the Principal Payments per above, if any): To Class A, total for Overdue Principal N/A ---------------- Overdue Principal to Class A-1 N/A ------- Overdue Principal to Class A-2 N/A ------- Overdue Principal to Class A-3 N/A ------- Overdue Principal to Class A-4 N/A ------- To Class B for Overdue Principal N/A ---------------- To Class C for Overdue Principal N/A ---------------- (h1.) Until the Reserve Account Funding Date: To the Reserve Account, the amount equal to the Servicing Fee otherwise payable to ABS N/A ---------------- (h2.) After the Reserve Account Funding Date: To the Servicer, ABS, the Servicing Fee plus Ancillary Servicing Income, if any 26,159.73 ---------------- (i.) To the Reserve Account, the amount needed to increase the amount on deposit in the Reserve Account to the Required Reserve Amount for such Payment Date N/A ---------------- (j.) Upon the occurrence of a Residual Event the lesser of: (j1.) (A) the Available Funds remaining on deposit in the Facility Account and N/A ---------------- (j2.) (B) the aggregate amount of Residual Receipts included in Available Funds N/A ---------------- (j3.) To be deposited to the Residual Account N/A ---------------- (k.) To Class D Noteholders for Principal Payment - ---------------- (l.) To Class D Noteholders for Overdue Principal, if any N/A ---------------- (3) To ABS, the Servicing Fee previously due, but deposited to the Reserve Account $ - ---------------- (4) To the Trustee to Fund the Servicer Conversion Expense Account ---------------- (5) To the Series Obligors, as holders of the Residual Interest, any Available Funds remaining on deposit in the Facility Account $ 665,839.46 ---------------- IV. SERVICER ADVANCES (a.) Aggregate amount of Servicer Advances at the beginning of the related Collection Period 954,203.32 ---------------- (b.) Servicer Advances reimbursed during the related Collection Period 42,799.49 ---------------- (c.) Amount of unreimbursed Servicer Advances to be reimbursed on the Settlement Date 96,866.32 ---------------- (d.) Servicer Advances made during the related Collection Period - ---------------- (e.) Aggregate amount of Servicer Advances at the end of the Collection Period $ 814,537.51 ---------------- V. RESERVE ACCOUNT (a.) Amount on deposit at the beginning of the related Collection Period $ 3,600,000.00 ---------------- (b.) Amounts used to cover shortfalls, if any, for the related Collection Period $ - ---------------- (c.) Amounts transferred from the Facility Account, if applicable $ - ---------------- (d.) Interest earned on Reserve Balance $ 5,727.46 ---------------- (e.) Reserve Account Ending Balance before calculating Required Reserve Amount $ 3,605,727.46 ---------------- ---------------- (f.) Required Reserve Amount needed as of the related Collection Period $ 3,600,000.00 ---------------- (g1.) If (f) is greater than (e), then amount of shortfall 0.00 ---------------- (g2.) If (e) is greater than (f), then excess amount to be transferred to the Series Obligors 5,727.46 ---------------- (h.) Amounts on deposit as of this Settlement Date (e minus g2) $ 3,600,000.00 ---------------- VI. RESIDUAL ACCOUNT (a.) Amount on deposit at the beginning of the related Collection Period 0.00 ---------------- (b.) Amounts transferred from the Facility Account 0.00 ---------------- (c.) Amounts used to cover shortfalls for the related Collection Period 0.00 ---------------- (d.) Amount on deposit as of this Settlement Date 0.00 ----------------
Page 2 of 3 VII. ADDITIONAL PROPERTY FUNDING ACCOUNT (a.) Amount on deposit at the beginning of the related Collection Period 0.00 ---------------- (b.) Amounts transferred from the Facility Account 0.00 ---------------- (c.) Amounts transferred to the Series Obligors 0.00 ---------------- (d.) Amount on deposit as of this Settlement Date 0.00 ---------------- VIII. ADVANCE PAYMENTS (a.) Beginning aggregate Advance Payments $ 505,809.85 ---------------- (b.) Amount of Advance Payments collected during the related Collection Period $ 449,984.88 ---------------- (c.) Investment earnings for the related Collection Period $ 729.16 ---------------- (d.) Amount of Advance Payments withdrawn for deposit into Facility Account $ 447,317.51 ---------------- (e.) Ending aggregate Advance Payments $ 509,206.38 ----------------
ADVANTA BUSINESS SERVICES CORP., AS SERVICER BY: /s/ Mark Shapiro TITLE: Assistant Treasurer DATE: 12-Feb-02 Page 3 of 3 -----END PRIVACY-ENHANCED MESSAGE-----