EX-21.1 3 w61695bexv21w1.txt MONTHLY SERVICER'S CERTIFICATE ASSET-BACKED FINANCING FACILITY ADVANTA BUSINESS SERVICES CORP., AS SERVICER MONTHLY SERVICER CERTIFICATE COLLECTION PERIOD: June 1, 2002 - June 30, 2002 SETTLEMENT DATE: 15-Jul-02 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 ............................................. $6,622,638.60 --------------- (b.) Contract Principal Balance of all Collections allocable to Contracts ............................................................................ $ 652,656.17 --------------- (c.) Contract Principal Balance of Charged-Off Contracts ........................................ $ 46,791.10 --------------- (e.) Ending Aggregate Contract Principal Balance of all Contracts as of this Settlement Date..... $5,923,191.33 --------------- BALANCES ON THIS SETTLEMENT DATE ------------------------------- (d.) Class A Principal Balance as of this Settlement Date (Class A Note Factor) 0.0389555 ................................... $3,851,764.13 ----------- --------------- (e1.) Ending Class A-1 Principal Balance 0.0000000 $ - ----------- -------------- (e2.) Ending Class A-2 Principal Balance 0.0000000 $ - ----------- -------------- (e3.) Ending Class A-3 Principal Balance 0.4077793 $3,851,764.13 ----------- -------------- (f.) Ending Class B Principal Balance as of this Settlement Date (Class B Note Factor) 0.1785714 ................................... $2,071,427.21 ----------- --------------- II. COMPLIANCE RATIOS (a.) Aggregate Contract Balance Remaining ("CBR") of all Contracts .............................. $6,249,799.54 --------------- (b.) CBR of Contracts 1 - 30 days delinquent .................................................... $ 615,692.52 --------------- (c.) % of Delinquent Contracts 1- 30 days as of the related Calculation Date.................... $ 9.85% --------------- (d.) CBR of Contracts 31 - 60 days delinquent ................................................... $ 297,313.21 --------------- (e.) % of Delinquent Contracts 31- 60 days as of the related Calculation Date................... 4.76% --------------- (f.) CBR of Contracts 61 - 90 days delinquent ................................................... $ 159,781.46 --------------- (g.) % of Delinquent Contracts 61- 90 days as of the related Calculation Date ....................................................................... 2.56% --------------- (h.) CBR of Contracts > 91 days delinquent ...................................................... $ 64,871.21 --------------- (i.) % of Delinquent Contracts > 91 days as of the related Calculation Date .............................................................. 1.04% --------------- (j1.) % of Delinquent Contracts 31 days or more as of the related Calculation Date................ 8.35% --------------- (j2.) Month 2: May-02 ......................................................................... 7.30% ---------- ---------------- (j3.) Month 3: Apr-02 ......................................................................... 8.30% ---------- ---------------- (j4.) Three month rolling average % of Delinquent Contracts 31 days or more....................... 7.98% --------------- (k1.) Net Charge-Off % for the related Collection Period (annualized 30/360) * ................... 3.44% --------------- (k2.) Month 2: May-02 .......................................................................... 0.00% --------- --------------- (k3.) Month 3: Apr-02 .......................................................................... 0.00% --------- --------------- (k4.) Three month rolling average % for Defaulted Contracts ...................................... 1.15% --------------- Does the Cumulative Loss % exceed (l1.) The Loss Trigger Level % from Beginning Period to and including 12th Collection Period ? . Y or N........................................................................... n/a (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............... NO --------------- (m1.) Residual Realization for the related Collection Period ..................................... 147.04% --------------- (m2.) Month 2: May-02 .......................................................................... 127.39% ---------- --------------- (m3.) Month 3: Apr-02 .......................................................................... 137.67% ---------- --------------- (m4.) Three month rolling average Residual Realization Ratio ..................................... 137.37% --------------- (n.) Does the three month rolling Residual Realization ratio exceed 100% Y or N.................. YES ---------------
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III. FLOW OF FUNDS (1.) The amount on deposit in Available Funds ......................................................... $ 894,059.69 --------------- (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 ...... $ 894,059.69 --------------- (a.) To the Servicer, Unrecoverable Servicer Advances / Initial Unpaid Balance ........................ $ - --------------- (b.) To the Servicer, the Servicing Fee and miscellaneous amounts, if any ............................. $ 5,518.87 --------------- To Series 1999-1 Noteholders: (c.) To Class A, the total Class A Note Interest and Class A Overdue Interest for the related period .. $ 26,169.47 --------------- Interest on Class A-1 Notes $ - --------------- Interest on Class A-2 Notes $ - --------------- Interest on Class A-3 Notes $26,169.47 --------------- (d.) Interest on Class B Notes for the related period ................................................. $ 12,549.40 --------------- (e.) To Series 1999-1 Noteholders: To Class A, the total applicable Principal Payment ............................................... $ 699,447.27 --------------- Principal Payment to Class A-1 Noteholders $ - --------------- Principal Payment to Class A-2 Noteholders $ - --------------- Principal Payment to Class A-3 Noteholders $699,447.27 --------------- To Class B for applicable Principal Payment to the extent of the Class B Floor ................... $ - --------------- (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") ................................................. $ 150,374.69 --------------- IV. SERVICER ADVANCES (a.) Aggregate amount of Servicer Advances at the beginning of the Collection Period .................. $ 189,688.75 --------------- (b.) Servicer Advances reimbursed during the Collection Period ........................................ $ 9,192.44 --------------- (c.) Amount of unreimbursed Service Advances to be reimbursed on the Settlement Date .................. $ - --------------- (d.) Servicer Advances made during the related Collection Period ...................................... $ 9,114.96 --------------- (e.) Aggregate amount of Servicer Advances at the end of the Collection Period ........................ $ 189,611.27 --------------- (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 .............................. $1,104,761.18 --------------- (b.) Amount of interest earnings reinvested for the related Monthly Period ............................ $ 1,545.87 --------------- (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 ..................................... $1,106,307.05 --------------- (f.) Required Reserve Amount needed as of the related Collection Period ............................... $1,104,761.18 --------------- (g1.) If (e) above is greater than (f), then excess amount to be transferred to the Series Obligors .... $ 1,545.87 --------------- (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) ...................... $1,104,761.18 --------------- (i.) Is the Required Reserve Amount equal to the balance in the Reserve Account as of the related Collection period ? Y or N ....................................................................... YES --------------- 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 .................................... $ - ---------------
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VII.ADVANCE PAYMENTS (a.) Beginning aggregate Advance Payments ........................................................... $ 122,474.80 --------------- (b.) Add: Amount of Advance Payments collected during the related Collection Period ........................................................... $ 84,923.86 --------------- (c.) Add: Investment earnings for the related Collection Period ................................... $ - --------------- (d.) Less: Amount of Advance Payments withdrawn for deposit into Facility Account .................................................................. $ 96,421.75 --------------- (e.) Ending aggregate Advance Payments .............................................................. $ 110,976.91 ---------------
ADVANTA BUSINESS SERVICES CORP., AS SERVICER BY: /s/ Mark Shapiro ----------------------------------- TITLE: Asst. Treasurer ----------------------------------- DATE: 07/10/02 ----------------------------------- Page 3 of 3