EX-21.1 2 ex21-1.txt MONTHLY SERVICER CERTIFICATE SERIES 1999-1 1 ASSET-BACKED FINANCING FACILITY ADVANTA BUSINESS SERVICES CORP., AS SERVICER MONTHLY SERVICER CERTIFICATE COLLECTION PERIOD: June 1, 2000 - June 30, 2000 ----------------------------- SETTLEMENT DATE: 17-Jul-00 ---------- A. SERIES INFORMATION ADVANTA LEASING RECEIVABLES CORP. VIII AND ADVANTA LEASING RECEIVABLES CORP. IX EQUIPMENT RECEIVABLES ASSET-BACKED NOTES, SERIES 1999-1 I. SERIES INFORMATION INCLUDING PLEDGED PROPERTY CONVEYED (a.) Beginning Aggregate Contract Principal Balance .................................... $ 58,358,814.83 ----------------- (b.) Contract Principal Balance of all Collections allocable to Contracts .............. $ 3,874,300.28 ----------------- (c.) Contract Principal Balance of Charged-Off Contracts ............................... $ 570,576.94 ----------------- (e.) Ending Aggregate Contract Principal Balance of all Contracts as of this Settlement Date .............................................................. $ 53,913,937.61 ----------------- BALANCES ON THIS SETTLEMENT DATE (d.) Class A Principal Balance as of this Settlement Date (Class A Note Factor) 0.4390466 $ 43,411,223.43 --------- ----------------- (e1.) Ending Class A-1 Principal Balance 0.0000000 $ - --------- ---------------- (e2.) Ending Class A-2 Principal Balance 0.8821999 $ 33,965,515.43 --------- ---------------- (e3.) Ending Class A-3 Principal Balance 1.0000000 $ 9,445,708.00 --------- ---------------- (f.) Ending Class B Principal Balance as of this Settlement Date (Class B Note Factor) 0.9054071 $ 10,502,714.18 --------- ----------------- II. COMPLIANCE RATIOS (a.) Aggregate Contract Balance Remaining ("CBR") of all Contracts .................... $ 58,483,749.43 ----------------- (b.) CBR of Contracts 1 - 30 days delinquent .......................................... $ 5,555,546.60 ----------------- (c.) % of Delinquent Contracts 1- 30 days as of the related Calculation Date ......... 9.50% ----------------- (d.) CBR of Contracts 31 - 60 days delinquent ......................................... $ 2,342,418.49 ----------------- (e.) % of Delinquent Contracts 31- 60 days as of the related Calculation Date ........ 4.01% ----------------- (f.) CBR of Contracts 61 - 90 days delinquent ......................................... $ 1,390,336.46 ----------------- (g.) % of Delinquent Contracts 61- 90 days as of the related Calculation Date ........ 2.38% ----------------- (h.) CBR of Contracts > 91 days delinquent ............................................ $ 745,039.29 ----------------- (i.) % of Delinquent Contracts > 91 days as of the related Calculation Date .......... 1.27% ----------------- (j1.) % of Delinquent Contracts 31 days or more as of the related Calculation Date ..... 7.66% ----------------- (j2.) Month 2: May-00 ................................................. 8.77% ------ ----------------- (j3.) Month 3: Apr-00 ................................................. 8.75% ------ ----------------- (j4.) Three month rolling average % of Delinquent Contracts 31 days or more ............ 8.39% ----------------- (k1.) Net Charge-Off % for the related Collection Period (annualized 30/360) ........... 6.08% ----------------- (k2.) Month 2: May-00 ................................................. 1.99% ------ ----------------- (k3.) Month 3: Apr-00 ................................................. 2.01% ------ ----------------- (k4.) Three month rolling average % for Defaulted Contracts ............................ 3.36% ----------------- Does the Cumulative Loss % exceed ................................................ (l1.) The Loss Trigger Level % from Beginning Period to and including 12th Collection Period ? Y or N ...................................................... NO ----------------- (l2.) The Loss Trigger Level % from 13th Collection Period to and including 24th Collection Period ? Y or N .................................................. n/a ----------------- (l3.) The Loss Trigger Level % from 25th Collection Period and thereafter ? Y or N ..... n/a ----------------- (m1.) Residual Realization for the related Collection Period ........................... 125.80% ----------------- (m2.) Month 2: May-00 ................................................. 128.22% ------ ----------------- (m3.) Month 3: Apr-00 ................................................. 130.89% ------ ----------------- (m4.) Three month rolling average Residual Realization Ratio ........................... 128.30% -----------------
Page 1 of 3 2 (n.) Does the three month rolling Residual Realization ratio exceed 100% Y or N ............ YES -------------------- III. FLOW OF FUNDS (1.) The amount on deposit in Available Funds ............................................... $ 5,052,209.90 -------------------- (2.) The prepayment amounts deposited, if any, by the Issuers' to the Collection Account for removal of defaulted contracts .................................. $ - -------------------- (3.) Total deposits in the Collection Account to be used as available funds on this Payment Date ................................................................................ $ 5,052,209.90 -------------------- (a.) To the Servicer, Unrecoverable Servicer Advances / Initial Unpaid Balance .............. $ 121,428.21 -------------------- (b.) To the Servicer, the Servicing Fee and miscellaneous amounts, if any ................... $ 48,632.35 -------------------- To Series 1999-1 Noteholders: (c.) To Class A, the total Class A Note Interest and Class A Overdue Interest for the related period. ................................................................................ $ 262,059.10 -------------------- Interest on Class A-1 Notes ...................... $ - -------------- Interest on Class A-2 Notes ...................... $ 207,746.28 -------------- Interest on Class A-3 Notes ...................... $ 54,312.82 -------------- (d.) Interest on Class B Notes for the related period ....................................... $ 68,874.76 -------------------- (e.) To Series 1999-1 Noteholders: To Class A, the total applicable Principal Payment .................................. $ 3,578,992.16 -------------------- Principal Payment to Class A-1 Noteholders ....... $ - -------------- Principal Payment to Class A-2 Noteholders ....... $ 3,578,992.16 -------------- Principal Payment to Class A-3 Noteholders ....... $ - -------------- To Class B for applicable Principal Payment to the extent of the Class B Floor ...... $ 865,885.06 -------------------- (f.) To the Reserve Account: The amount needed to increase the amount in the Reserve Account to the Required Reserve $ - -------------------- (g.) Upon the occurrence of a Residual Event the lesser of: (A) the remaining Available Funds and ............................. $ - -------------- (B) the aggregate amount of Residual Receipts included in Available Funds ......................................................... $ - -------------- To be deposited to the Residual Account ............................................. $ - -------------------- (h.) To the Issuers, as owner of the Pledged Assets, any remaining Available Funds on deposit in the Collection Account (the "Issuers' Interest") .................................... $ 106,338.27 -------------------- IV. SERVICER ADVANCES (a.) Aggregate amount of Servicer Advances at the beginning of the Collection Period ........ $ 1,266,445.19 -------------------- (b.) Servicer Advances reimbursed during the Collection Period .............................. $ 38,976.93 -------------------- (c.) Amount of unreimbursed Service Advances to be reimbursed on the Settlement Date ..................................................................... $ 121,428.21 -------------------- (d.) Servicer Advances made during the related Collection Period ............................ -------------------- (e.) Aggregate amount of Servicer Advances at the end of the Collection Period .............................................................................. $ 1,106,040.05 -------------------- (f.) Amount of delinquent Scheduled Payments for which Servicer Advances were not made ....................................................................... $ - -------------------- V. RESERVE ACCOUNT (a.) Amount on deposit at the beginning of the related Collection Period ................... $ 2,730,597.02 -------------------- (b.) Amount of interest earnings reinvested for the related Monthly Period ................. $ 13,478.47 -------------------- (c.) Amounts used to cover shortfalls, if any, for the related Collection Period .......... $ - -------------------- (d.) Amounts transferred from the Collection Account, if applicable ........................ $ - -------------------- (e.) Balance remaining before calculating Required Reserve Amount .......................... $ 2,744,075.49 -------------------- (f.) Required Reserve Amount needed as of the related Collection Period .................... $ 2,695,696.88 -------------------- (g1.) If (d) above is greater than (e), then excess amount to be transferred to the Series Obligors .................................................................. $ 48,378.61 -------------------- (g2.) If (e) is greater than (d), then amount of shortfall .................................. -------------------- (h.) Amounts on deposit at the end of the related Collection Period (e minus g1) ........... $ 2,695,696.88 -------------------- (i.) Is the Required Reserve Amount equal to the balance in the Reserve Account as of the related Collection period ? Y or N ....................................... YES --------------------
Page 2 of 3 3 VI. RESIDUAL ACCOUNT (a.) Amount on deposit at the beginning of the related Collection Period ..................... $ - -------------------- (b.) Amounts transferred from the Collection Account ......................................... $ - -------------------- (c.) Amounts used to cover shortfalls for the related Collection Period ...................... $ - -------------------- (d.) Amount on deposit at the end of the related Collection Period ........................... $ - -------------------- VII. ADVANCE PAYMENTS (a.) Beginning aggregate Advance Payments .................................................... $ 861,260.89 -------------------- (b.) Add: Amount of Advance Payments collected during the related Collection Period ......... $ 580,480.55 -------------------- (c.) Add: Investment earnings for the related Collection Period ............................ $ - -------------------- (d.) Less: Amount of Advance Payments withdrawn for deposit into Facility Account ............ $ 584,268.55 -------------------- (e.) Ending aggregate Advance Payments ....................................................... $ 857,472.89 --------------------
ADVANTA BUSINESS SERVICES CORP., AS SERVICER BY: /s/ John Paris ------------------------------- TITLE: SR VP ------------------------------- DATE: 07/13/00 ------------------------------- Page 3 of 3