-----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, A6Y7a+js4vTWO9K3Zyro+qcHTyPDX3syLeag3fV0TOyvDm8qoIiJujQoKgxD3qpk nnGPSajIjpFa26nLOGOaxQ== 0000893220-05-001420.txt : 20050620 0000893220-05-001420.hdr.sgml : 20050617 20050620094905 ACCESSION NUMBER: 0000893220-05-001420 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050620 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050620 DATE AS OF CHANGE: 20050620 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVANTA BUSINESS RECEIVABLES CORP CENTRAL INDEX KEY: 0001107920 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-32874 FILM NUMBER: 05904697 BUSINESS ADDRESS: STREET 1: 639 ISBELL RD. STREET 2: SUITE 390 CITY: RENO STATE: NV ZIP: 89509 MAIL ADDRESS: STREET 1: 639 ISBELL RD STREET 2: STE 390 CITY: RENO STATE: NV ZIP: 89509 8-K 1 w09232ae8vk.txt FORM 8-K FOR ADVANTA BUSINESS RECEIVABLES CORP. - -------------------------------------------------------------------------------- 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 Date of Report (Date of earliest event reported) June 20, 2005 Advanta Business Receivables Corp., as Transferor on behalf of Advanta Business Card Master Trust (Exact Name of Registrant as Specified in Charter) Nevada 333-32874 23-2852207 - ---------------------------- ----------------- ---------------------------- (State or Other Jurisdiction (Commission File (IRS Employer of Incorporation) Number) Identification Number) Advanta Business Receivables Corp. ------------------------------------------------------------ (Exact Name of Registrant as Specified in Charter) Nevada 333-32874 23-2852207 - ---------------------------- ----------------- ---------------------------- (State or Other Jurisdiction (Commission File (IRS Employer of Incorporation) Number) Identification Number) 2215 B Renaissance Drive Suite 5 Las Vegas, Nevada 89119 - ------------------------------------------ ----------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (702) 966-4246 (Former name or former address, if changed since last report) - -------------------------------------------------------------------------------- Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) - -------------------------------------------------------------------------------- Item 8.01. Other Events In accordance with the terms of the Series 2003-C Indenture Supplement the beginning of the Controlled Accumulation Period for Series 2003-C was postponed. The Controlled Accumulation Period began at the close of business on May 31, 2005. In accordance with the terms of the Series 2000-C Indenture Supplement, the Series 2000-C Reserve Account Funding Date has been postponed as a result of the postponement of the beginning of the Controlled Accumulation Period for Series 2000-C. The Reserve Account Funding Date is expected to begin on June 2005 payment date, and the Controlled Accumulation Period is expected to begin at the close of business on July 31, 2005. In accordance with the terms of the Series 2003-A Indenture Supplement the Series 2003-A Reserve Account Funding Date has been postponed as a result of the postponement of the beginning of the Controlled Accumulation Period for Series 2003-A. The Reserve Account Funding Date is expected to begin on the October 2005 payment date and the Controlled Accumulation Period is expected to begin at the close of business on November 30, 2005. Item 9.01. Financial Statements and Exhibits The following exhibit is furnished herewith: 21 Monthly Servicer's Certificate issued on June 20, 2005 for the monthly period of MAY 1, 2005 through MAY 31, 2005, relating to the Series 2000-C, 2001-A, 2002-A, 2003-A, 2003-B, 2003-C, 2003-D and AdvantaSeries Asset Backed Notes, prepared by the Servicer and sent to the Indenture Trustee pursuant to Article V of the Series 2000-C, 2001-A, 2002-A, 2003-A, 2003-B, 2003-C, 2003-D and AdvantaSeries Indenture Supplements dated as of November 1, 2000, April 1, 2001, July 1, 2002, February 1, 2003, June 1, 2003, August 1, 2003, December 1, 2003 and November 1, 2004 respectively. 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 CARD MASTER TRUST By: Advanta Bank Corp., as attorney-in-fact By: /s/ Michael Coco -------------------------------------- Name: Michael Coco Title: Vice President and Treasurer ADVANTA BUSINESS RECEIVABLES CORP. By: /s/ Susan McVeigh --------------------------------------- Name: Susan McVeigh Title: Vice President and Treasurer Dated: JUNE 20, 2005 Exhibit Index
Exhibit No. Page - ----------- ---- 21.1 Monthly Servicer's Certificate dated JUNE 20, 2005 prepared by the Servicer and sent to the Indenture Trustee pursuant to Article V of the Series 2000-C, 2001-A, 2002-A, 2003-A, 2003-B, 2003-C, 2003-D and AdvantaSeries Indenture Supplements covering the period of MAY 1, 2005 through MAY 31, 2005.
5 EX-21.1 2 w09232aexv21w1.txt MONTHLY SERVICER'S CERTIFICATE DATED JUNE 20, 2005 EXHIBIT 21 EXHIBIT C CLASS A CUSIP #00761HAD3 CLASS B CUSIP #00761HAE1 CLASS C CUSIP #00761HAF8 MONTHLY NOTEHOLDER'S STATEMENT ADVANTA BANK CORP. ADVANTA BUSINESS CARD MASTER TRUST SERIES 2000-C PERIOD ENDING MAY 31, 2005 The information which is required to be prepared with respect to the Payment Date of June 20, 2005 and with respect to the performance of the Trust during the period of May 1, 2005 through May 31, 2005 is set forth below. Capitalized terms used in this statement have their respective meanings set forth in the Master Indenture and the Transfer and Servicing Agreement. References to certain sections and subsections are references to the respective sections and subsections of the Master Indenture as supplemented by the Series 2000-C Indenture Supplement. I. Information regarding the current monthly principal distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to principal payment to the Class A Noteholder........... $ - ------------------ 2. The amount of distribution in respect to principal payment to the Class B Noteholder........... $ - ------------------ 3. The amount of distribution in respect to principal payment to the Class C Noteholder........... $ - ------------------ 4. The amount of distribution in respect to principal payment to the Class D Noteholder........... $ - ------------------ II. Information regarding the current monthly interest distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to the Class A Monthly Interest.......................... 2.87611 ------------------ 2. The amount of distribution in respect to the Class B Monthly Interest.......................... 3.26361 ------------------ 3. The amount of distribution in respect to the Class C Monthly Interest.......................... 3.90944 ------------------ 4. The amount of distribution in respect to the Class D Monthly Interest.......................... 6.10528 ------------------ III. Information regarding the total monthly distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The total amount of distribution in respect to the Class A Noteholder.......................... 2.87611 ------------------ 2. The total amount of distribution in respect to the Class B Noteholder.......................... 3.26361 ------------------ 3. The total amount of distribution in respect to the Class C Noteholder.......................... 3.90944 ------------------ 4. The total amount of distribution in respect to the Class D Noteholder.......................... 6.10528 ------------------ IV. Information regarding the performance of the Advanta Business Card Master Trust 1. The aggregate amount of such Collections with respect to Principal Receivables for the Monthly Period preceding such Payment Date............................................................. $ 732,720,001.26 ------------------ 2. The aggregate amount of such Collections with respect to Finance Charge and Administrative Receivables for the Monthly Period preceding such Payment Date ................................ $ 57,696,742.97 ------------------ 3. Recoveries for the preceding Monthly Period.................................................... $ 1,569,668.20 ------------------ 4. The Defaulted Amount for the preceding Monthly Period.......................................... $ 17,677,985.46 ------------------ 5. The annualized percentage equivalent of a fraction, the numerator of which is the Defaulted Amount less Recoveries for the preceding Monthly Period, and the denominator is the average Receivables for the preceding Monthly Period................................................... 5.95% ------------------ 6. The total amount of Principal Receivables in the trust at the beginning of the preceding Monthly Period................................................................................. $ 3,223,666,959.35 ------------------ 7. The total amount of Principal Receivables in the trust as of the last day of the preceding Monthly Period................................................................................. $ 3,166,121,962.43 ------------------ 8. The total amount of Finance Charge and Administrative Receivables in the Trust at the beginning of the preceding Monthly Period................................................................ $ 54,072,505.86 ------------------
9. The total amount of Finance Charge and Administrative Receivables in the Trust as of the last day of the preceding Monthly Period ..................................................................... $ 52,574,134.63 ------------------ 10. The aggregated Adjusted Invested Amounts of all Series of Notes outstanding as of the last day of the preceding Monthly Period ........................................................................ $ 2,739,750,000.00 ------------------ 11. The Transferor Interest as of the last day of the preceding Monthly Period .......................... $ 426,371,962.43 ------------------ 12. The transferor percentage as of the last day of the preceding Monthly Period ........................ 13.47% ------------------ 13. The Required Transferor Percentage .................................................................. 6.00% ------------------ 14. The Required Transferor Interest .................................................................... $ 189,967,317.75 ------------------ 15. The monthly principal payment rate for the preceding Monthly Period ................................. 22.729% ------------------ 16. The balance in the Excess Funding Account as of the last day of the preceding Monthly Period ........ $ - ------------------ 17. The aggregate outstanding balance of the Accounts which were delinquent as of the close of business on the last day of the Monthly Period preceding such Payment Date:
Percentage Aggregate of Total Account Receivables Balance (a) Delinquent between 30 days and 59 days 1.209% $ 38,920,687.11 (b) Delinquent between 60 days and 89 days 0.940% $ 30,267,096.98 (c) Delinquent between 90 days and 119 days 0.816% $ 26,254,350.95 (d) Delinquent between 120 days and 149 days 0.631% $ 20,303,411.84 (e) Delinquent between 150 days and 179 days 0.549% $ 17,664,662.62 (f) Delinquent 180 days or greater 0.000% $ - ----- ------------------ (g) Aggregate 4.145% $ 133,410,209.50 ===== ==================
V. Information regarding Series 2000-C 1. The amount of Principal Receivables in the Trust represented by the Invested Amount of Series 2000-C as of the last day of the related Monthly Period ....................................................... $ 400,000,000.00 ------------------ 2. The amount of Principal Receivables in the Trust represented by the Adjusted Invested Amount of Series 2000-C on the last day of the related Monthly Period ....................................................... $ 400,000,000.00 NOTE FACTORS ------------------ 3. The amount of Principal Receivables in the Trust represented by the Class A Note Principal Balance on the last day of the related Monthly Period ............................................................... 1.0000 $ 320,000,000.00 ------------------ 4. The amount of Principal Receivables in the Trust represented by the Class B Note Principal Balance on the last day of the related Monthly Period ............................................................... 1.0000 $ 38,000,000.00 ------------------ 5. The amount of Principal Receivables in the Trust represented by the Class C Note Principal Balance on the last day of the related Monthly Period ............................................................... 1.0000 $ 28,000,000.00 ------------------ 6. The amount of Principal Receivables in the trust represented by the Class D Note Principal Balance on the last day of the related Monthly Period ............................................................... 1.0000 $ 14,000,000.00 ------------------ 7. The Floating Investor Percentage with respect to the period: May 1, 2005 through May 31, 2005 12.4082297% ------------------ 8. The Fixed Investor Percentage with respect to the period: May 1, 2005 through May 31, 2005 N/A ------------------ 9. The amount of Investor Principal Collections applicable to Series 2000-C ....................................................................... $ 90,917,580.78 ------------------ 10a. The amount of Available Finance Charge Collections on deposit in the Collection Account on the related Payment Date ............................... $ 5,413,679.37 ------------------ 10b. The amount of Available Finance Charge Collections not on deposit in the Collection Account on the related Payment Date pursuant to Section 8.04(a) of the Master Indenture .................. $ 1,781,852.05 ------------------ 11. The Investor Default Amount for the related Monthly Period ................... $ 2,193,525.06 ------------------ 12. The Monthly Servicing Fee for the related Monthly Period ..................... $ 666,666.67 ------------------
13. Trust yields for the related Monthly Period a. The cash yield for the related Monthly Period ................................................. 21.59% ------------------ b. The default rate for the related Monthly Period ............................................... 6.58% ------------------ c. The Net Portfolio Yield for the related Monthly Period ........................................ 15.01% ------------------ d. The Base Rate for the related Monthly Period .................................................. 5.72% ------------------ e. The Excess Spread Percentage for the related Monthly Period ................................... 9.29% ------------------ f. The Quarterly Excess Spread Percentage for the related Monthly Period ......................... 10.02% ------------------ i) Excess Spread Percentage related to May-05 9.29% ------------------ ii) Excess Spread Percentage related to Apr-05 10.26% ------------------ iii) Excess Spread Percentage related to Mar-05 10.51% ------------------ 14. Floating Rate Determinations: LIBOR for the Interest Period from May 20, 2005 through and including June 19, 2005 3.09000% ------------------ 15. Principal Funding Account a. The amount on deposit in the Principal Funding Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date) ... $ - ------------------ b. The Accumulation Shortfall with respect to the related Monthly Period ................... $ - ------------------ c. The Principal Funding Investment Proceeds deposited in the Collection Account to be treated as Available Finance Charge Collections ......................................... $ - ------------------ 16. Reserve Account a. The amount on deposit in the Reserve Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date) ................. $ 500,000.00 ------------------ b. The Reserve Draw Amount for the related Monthly Period deposited into the Collection Account to be treated as Available Finance Charge Collections ........................... $ - ------------------ c. Interest earnings on the Reserve Account deposited into the Collection Account to be treated as Available Finance Charge Collections ......................................... $ - ------------------ 17. Cash Collateral Account a. The Required Cash Collateral Account Amount on the related Payment Date ................. $ 7,000,000.00 ------------------ b. The Available Cash Collateral Account Amount on the related Payment Date ................ $ 7,000,000.00 ------------------ 18. Investor Charge-Offs a. The aggregate amount of Investor Charge-Offs for the related Monthly Period ............. $ - ------------------ b. The aggregate amount of Investor Charge-Offs reimbursed on the Payment Date ............. $ - ------------------ 19. The Monthly Principal Reallocation Amount for the related Monthly Period ............................ $ - ------------------
Advanta Bank Corp. as Servicer By: /s/ MICHAEL COCO Name: Michael Coco Title: Vice President and Treasurer EXHIBIT C CLASS A CUSIP #00761HAG6 CLASS B CUSIP #00761HAH4 CLASS C CUSIP #00761HAJ0 MONTHLY NOTEHOLDER'S STATEMENT ADVANTA BANK CORP. ADVANTA BUSINESS CARD MASTER TRUST SERIES 2001-A PERIOD ENDING MAY 31, 2005 The information which is required to be prepared with respect to the Payment Date of June 20, 2005 and with respect to the performance of the Trust during the period of May 1, 2005 through May 31, 2005 is set forth below. Capitalized terms used in this statement have their respective meanings set forth in the Master Indenture and the Transfer and Servicing Agreement. References to certain sections and subsections are references to the respective sections and subsections of the Master Indenture as supplemented by the Series 2001-A Indenture Supplement. I. Information regarding the current monthly principal distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to principal payment to the Class A Noteholder .......... - ------------------ 2. The amount of distribution in respect to principal payment to the Class B Noteholder .......... - ------------------ 3. The amount of distribution in respect to principal payment to the Class C Noteholder .......... - ------------------ 4. The amount of distribution in respect to principal payment to the Class D Noteholder .......... - ------------------ II. Information regarding the current monthly interest distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to the Class A Monthly Interest ......................... 2.91917 ------------------ 2. The amount of distribution in respect to the Class B Monthly Interest ......................... 3.39278 ------------------ 3. The amount of distribution in respect to the Class C Monthly Interest ......................... 3.99556 ------------------ 4. The amount of distribution in respect to the Class D Monthly Interest ......................... 6.96639 ------------------ III. Information regarding the total monthly distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The total amount of distribution in respect to the Class A Noteholder ......................... 2.91917 ------------------ 2. The total amount of distribution in respect to the Class B Noteholder ......................... 3.39278 ------------------ 3. The total amount of distribution in respect to the Class C Noteholder ......................... 3.99556 ------------------ 4. The total amount of distribution in respect to the Class D Noteholder ......................... 6.96639 ------------------ IV. Information regarding the performance of the Advanta Business Card Master Trust 1. The aggregate amount of such Collections with respect to Principal Receivables for the Monthly Period preceding such Payment Date .................................................... $ 732,720,001.26 ------------------ 2. The aggregate amount of such Collections with respect to Finance Charge and Administrative Receivables for the Monthly Period preceding such Payment Date ................................ $ 57,696,742.97 ------------------ 3. Recoveries for the preceding Monthly Period ................................................... $ 1,569,668.20 ------------------ 4. The Defaulted Amount for the preceding Monthly Period ......................................... $ 17,677,985.46 ------------------ 5. The annualized percentage equivalent of a fraction, the numerator of which is the Defaulted Amount less Recoveries for the preceding Monthly Period, and the denominator is the average Receivables for the preceding Monthly Period .................................................. 5.95% ------------------ 6. The total amount of Principal Receivables in the trust at the beginning of the preceding Monthly Period ................................................................................ $ 3,223,666,959.35 ------------------ 7. The total amount of Principal Receivables in the trust as of the last day of the preceding Monthly Period ................................................................................ $ 3,166,121,962.43 ------------------ 8. The total amount of Finance Charge and Administrative Receivables in the Trust at the beginning of the preceding Monthly Period ..................................................... $ 54,072,505.86 ------------------
9. The total amount of Finance Charge and Administrative Receivables in the Trust as of the last day of the preceding Monthly Period...................................................................... $ 52,574,134.63 ------------------ 10. The aggregated Adjusted Invested Amounts of all Series of Notes outstanding as of the last day of the preceding Monthly Period ........................................................................ $ 2,739,750,000.00 ------------------ 11. The Transferor Interest as of the last day of the preceding Monthly Period .......................... $ 426,371,962.43 ------------------ 12. The transferor percentage as of the last day of the preceding Monthly Period ........................ 13.47% ------------------ 13. The Required Transferor Percentage .................................................................. 6.00% ------------------ 14. The Required Transferor Interest .................................................................... $ 189,967,317.75 ------------------ 15. The monthly principal payment rate for the preceding Monthly Period ................................. 22.729% ------------------ 16. The balance in the Excess Funding Account as of the last day of the preceding Monthly Period ........ $ - ------------------ 17. The aggregate outstanding balance of the Accounts which were delinquent as of the close of business on the last day of the Monthly Period preceding such Payment Date:
Percentage Aggregate of Total Account Receivables Balance (a) Delinquent between 30 days and 59 days 1.209% $ 38,920,687.11 (b) Delinquent between 60 days and 89 days 0.940% $ 30,267,096.98 (c) Delinquent between 90 days and 119 days 0.816% $ 26,254,350.95 (d) Delinquent between 120 days and 149 days 0.631% $ 20,303,411.84 (e) Delinquent between 150 days and 179 days 0.549% $ 17,664,662.62 (f) Delinquent 180 days or greater 0.000% $ - ----- ------------------ (g) Aggregate 4.145% $ 133,410,209.50 ===== ==================
V. Information regarding Series 2001-A 1. The amount of Principal Receivables in the Trust represented by the Invested Amount of Series 2001-A as of the last day of the related Monthly Period ....................................... $ 300,000,000.00 ------------------ 2. The amount of Principal Receivables in the Trust represented by the Adjusted Invested Amount of Series 2001-A on the last day of the related Monthly Period ................................ $ 300,000,000.00 NOTE FACTORS ------------------ 3. The amount of Principal Receivables in the Trust represented by the Class A Note Principal Balance on the last day of the related Monthly Period ........................................... 1.0000 $ 240,000,000.00 ------------------ 4. The amount of Principal Receivables in the Trust represented by the Class B Note Principal Balance on the last day of the related Monthly Period ........................................... 1.0000 $ 28,500,000.00 ------------------ 5. The amount of Principal Receivables in the Trust represented by the Class C Note Principal Balance on the last day of the related Monthly Period............................................ 1.0000 $ 21,000,000.00 ------------------ 6. The amount of Principal Receivables in the trust represented by the Class D Note Principal Balance on the last day of the related Monthly Period............................................ 1.0000 $ 10,500,000.00 ------------------ 7. The Floating Investor Percentage with respect to the period: ------------------ May 1, 2005 through May 31, 2005..................................... 9.3061722% ------------------ 8. The Fixed Investor Percentage with respect to the period: May 1, 2005 through May 31, 2005 N/A ------------------ 9. The amount of Investor Principal Collections applicable to Series 2001-A .................................................... $ 68,188,185.06 ------------------ 10a. The amount of Available Finance Charge Collections on deposit in the Collection Account on the related Payment Date ........................................................... $ 4,060,259.52 ------------------ 10b. The amount of Available Finance Charge Collections not on deposit in the Collection Account on the related Payment Date pursuant to Section 8.04(a) of the Master Indenture ...................................................... $ 1,336,389.01 ------------------ 11. The Investor Default Amount for the related Monthly Period .......................................................... $ 1,645,143.76 ------------------ 12. The Monthly Servicing Fee for the related Monthly Period .......................................................... $ 500,000.00 ------------------
13. Trust yields for the related Monthly Period a. The cash yield for the related Monthly Period ........................................... 21.59% ------------------ b. The default rate for the related Monthly Period ......................................... 6.58% ------------------ c. The Net Portfolio Yield for the related Monthly Period .................................. 15.01% ------------------ d. The Base Rate for the related Monthly Period ............................................ 5.82% ------------------ e. The Excess Spread Percentage for the related Monthly Period ............................. 9.19% ------------------ f. The Quarterly Excess Spread Percentage for the related Monthly Period ................... 9.93% ------------------ i) Excess Spread Percentage related to May-05 9.19% ------------------ ii) Excess Spread Percentage related to Apr-05 10.17% ------------------ iii) Excess Spread Percentage related to Mar-05 10.42% ------------------ 14. Floating Rate Determinations: LIBOR for the Interest Period from May 20, 2005 through and including June 19, 2005 3.09000% ------------------ 15. Principal Funding Account a. The amount on deposit in the Principal Funding Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date) ... $ - ------------------ b. The Accumulation Shortfall with respect to the related Monthly Period ................... $ - ------------------ c. The Principal Funding Investment Proceeds deposited in the Collection Account to be treated as Available Finance Charge Collections ......................................... $ - ------------------ 16. Reserve Account a. The amount on deposit in the Reserve Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date) ................. $ - ------------------ b. The Reserve Draw Amount for the related Monthly Period deposited into the Collection Account to be treated as Available Finance Charge Collections ........................... $ - ------------------ c. Interest earnings on the Reserve Account deposited into the Collection Account to be treated as Available Finance Charge Collections ......................................... $ - ------------------ 17. Cash Collateral Account a. The Required Cash Collateral Account Amount on the related Payment Date ................. $ 5,250,000.00 ------------------ b. The Available Cash Collateral Account Amount on the related Payment Date ................ $ 5,250,000.00 ------------------ 18. Investor Charge-Offs a. The aggregate amount of Investor Charge-Offs for the related Monthly Period ............. $ - ------------------ b. The aggregate amount of Investor Charge-Offs reimbursed on the Payment Date ............. $ - ------------------ 19. The Monthly Principal Reallocation Amount for the related Monthly Period ............................ $ - ------------------
Advanta Bank Corp. as Servicer By: /s/ MICHAEL COCO Name: Michael Coco Title: Vice President and Treasurer EXHIBIT C CLASS A CUSIP #00761HAK7 CLASS B CUSIP #00761HAL5 CLASS C CUSIP #00761HAM3 MONTHLY NOTEHOLDER'S STATEMENT ADVANTA BANK CORP. ADVANTA BUSINESS CARD MASTER TRUST SERIES 2002-A PERIOD ENDING MAY 31, 2005 The information which is required to be prepared with respect to the Payment Date of June 20, 2005 and with respect to the performance of the Trust during the period of May 1, 2005 through May 31, 2005 is set forth below. Capitalized terms used in this statement have their respective meanings set forth in the Master Indenture and the Transfer and Servicing Agreement. References to certain sections and subsections are references to the respective sections and subsections of the Master Indenture as supplemented by the Series 2002-A Indenture Supplement. I. Information regarding the current monthly principal distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to principal payment to the Class A Noteholder....... $ 1,000.0000 --------------------- 2. The amount of distribution in respect to principal payment to the Class B Noteholder....... $ 1,000.0000 --------------------- 3. The amount of distribution in respect to principal payment to the Class C Noteholder....... $ 1,000.0000 --------------------- 4. The amount of distribution in respect to principal payment to the Class D Noteholder....... $ 1,000.0000 --------------------- II. Information regarding the current monthly interest distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to the Class A Monthly Interest...................... $ 2.83306 --------------------- 2. The amount of distribution in respect to the Class B Monthly Interest...................... $ 3.26361 --------------------- 3. The amount of distribution in respect to the Class C Monthly Interest...................... $ 4.16778 --------------------- 4. The amount of distribution in respect to the Class D Monthly Interest...................... $ 8.25806 --------------------- III. Information regarding the total monthly distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The total amount of distribution in respect to the Class A Noteholder...................... $ 1,002.83306 --------------------- 2. The total amount of distribution in respect to the Class B Noteholder...................... $ 1,003.26361 --------------------- 3. The total amount of distribution in respect to the Class C Noteholder...................... $ 1,004.16778 --------------------- 4. The total amount of distribution in respect to the Class D Noteholder...................... $ 1,008.25806 --------------------- IV. Information regarding the performance of the Advanta Business Card Master Trust 1. The aggregate amount of such Collections with respect to Principal Receivables for the Monthly Period preceding such Payment Date................................................. $ 732,720,001.26 --------------------- 2. The aggregate amount of such Collections with respect to Finance Charge and Administrative Receivables for the Monthly Period preceding such Payment Date.............. $ 57,696,742.97 --------------------- 3. Recoveries for the preceding Monthly Period................................................ $ 1,569,668.20 --------------------- 4. The Defaulted Amount for the preceding Monthly Period...................................... $ 17,677,985.46 --------------------- 5. The annualized percentage equivalent of a fraction, the numerator of which is the Defaulted Amount less Recoveries for the preceding Monthly Period, and the denominator is the average Receivables for the preceding Monthly Period................................ 5.95% --------------------- 6. The total amount of Principal Receivables in the trust at the beginning of the preceding Monthly Period................................................................... $ 3,223,666,959.35 --------------------- 7. The total amount of Principal Receivables in the trust as of the last day of the preceding Monthly Period................................................................... $ 3,166,121,962.43 --------------------- 8. The total amount of Finance Charge and Administrative Receivables in the Trust at the beginning of the preceding Monthly Period.................................................. $ 54,072,505.86 ---------------------
9. The total amount of Finance Charge and Administrative Receivables in the Trust as of the last day of the preceding Monthly Period .................................................................... $ 52,574,134.63 --------------------- 10. The aggregated Adjusted Invested Amounts of all Series of Notes outstanding as of the last day of the preceding Monthly Period ...................................................................... $ 2,739,750,000.00 --------------------- 11. The Transferor Interest as of the last day of the preceding Monthly Period ........................ $ 426,371,962.43 --------------------- 12. The transferor percentage as of the last day of the preceding Monthly Period ...................... 13.47% --------------------- 13. The Required Transferor Percentage ................................................................ 6.00% --------------------- 14. The Required Transferor Interest .................................................................. $ 189,967,317.75 --------------------- 15. The monthly principal payment rate for the preceding Monthly Period ............................... 22.729% --------------------- 16. The balance in the Excess Funding Account as of the last day of the preceding Monthly Period ...... $ - --------------------- 17. The aggregate outstanding balance of the Accounts which were delinquent as of the close of business on the last day of the Monthly Period preceding such Payment Date:
Percentage Aggregate of Total Account Receivables Balance (a) Delinquent between 30 days and 59 days 1.209% $ 38,920,687.11 (b) Delinquent between 60 days and 89 days 0.940% $ 30,267,096.98 (c) Delinquent between 90 days and 119 days 0.816% $ 26,254,350.95 (d) Delinquent between 120 days and 149 days 0.631% $ 20,303,411.84 (e) Delinquent between 150 days and 179 days 0.549% $ 17,664,662.62 (f) Delinquent 180 days or greater 0.000% $ - ----- --------------- (g) Aggregate 4.145% $133,410,209.50 ===== ===============
V. Information regarding Series 2002-A 1. The amount of Principal Receivables in the Trust represented by the Invested Amount of Series 2002-A as of the last day of the related Monthly Period ....................... $ 300,000,000.00 ------------------ 2. The amount of Principal Receivables in the Trust represented by the Adjusted Invested Amount of Series 2002-A on the last day of the related Monthly Period .......... $ 150,000,000.00 ------------------ NOTE FACTORS 3. The amount of Principal Receivables in the Trust represented by the Class A Note Principal Balance on the related Payment Date after taking into consideration all payments made on such date .............................................................. 0.0000 $ - ------------------ 4. The amount of Principal Receivables in the Trust represented by the Class B Note Principal Balance on the related Payment Date after taking into consideration all payments made on such date .............................................................. 0.0000 $ - ------------------ 5. The amount of Principal Receivables in the Trust represented by the Class C Note Principal Balance on the related Payment Date after taking into consideration all payments made on such date .............................................................. 0.0000 $ - ------------------ 6. The amount of Principal Receivables in the trust represented by the Class D Note Principal Balance the related Payment Date after taking into consideration all payments made on such date .............................................................. 0.0000 $ - ------------------ 7. The Floating Investor Percentage with respect to the period: May 1, 2005 through May 31, 2005 9.3061722% ------------------ 8. The Fixed Investor Percentage with respect to the period: May 1, 2005 through May 31, 2005 9.3061722% ------------------ 9. The amount of Investor Principal Collections applicable to Series 2002-A ................ $ 68,188,185.06 ------------------ 10a. The amount of the Investor Finance Charge Collections on deposit in the Collection Account on the Related Payment Date to be treated as Servicer Interchange ........................................................................... $ 31,250.00 ------------------ 10b. The amount of Available Finance Charge Collections on deposit in the Collection Account on the related Payment Date ................................................... $ 4,446,316.68 ------------------ 10c. The amount of Available Finance Charge Collections not on deposit in the Collection Account on the related Payment Date pursuant to Section 8.04(a) of the Master Indenture ...................................................................... $ 1,292,490.67 ------------------ 11. The Investor Default Amount for the related Monthly Period ............................. $ 1,645,143.76 ------------------
12. The Monthly Servicing Fee for the related Monthly Period .......................................... $ 250,000.00 ------------------ 13. Trust yields for the related Monthly Period a. The cash yield for the related Monthly Period ............................................. 23.08% ------------------ b. The default rate for the related Monthly Period ........................................... 6.58% ------------------ c. The Net Portfolio Yield for the related Monthly Period .................................... 16.50% ------------------ d. The Base Rate for the related Monthly Period .............................................. 4.79% ------------------ e. The Excess Spread Percentage for the related Monthly Period ............................... 11.71% ------------------ f. The Quarterly Excess Spread Percentage for the related Monthly Period ..................... 10.79% ------------------ i) Excess Spread Percentage related to May-05 11.71% ------------------ ii) Excess Spread Percentage related to Apr-05 10.20% ------------------ iii) Excess Spread Percentage related to Mar-05 10.45% ------------------ 14. Floating Rate Determinations: LIBOR for the Interest Period from May 20, 2005 through and including June 19, 2005 3.09000% ------------------ 15. Principal Funding Account a. The amount on deposit in the Principal Funding Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date) ..... $ - ------------------ b. The Accumulation Shortfall with respect to the related Monthly Period ..................... $ - ------------------ c. The Principal Funding Investment Proceeds deposited in the Collection Account to be treated as Available Finance Charge Collections ........................................... $ 372,489.20 ------------------ 16. Reserve Account a. The amount on deposit in the Reserve Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date) ................... $ - ------------------ b. The Reserve Draw Amount for the related Monthly Period deposited into the Collection Account to be treated as Available Finance Charge Collections ............................. $ - ------------------ c. Interest earnings on the Reserve Account deposited into the Collection Account to be treated as Available Finance Charge Collections ........................................... $ 919.62 ------------------ 17. Cash Collateral Account a. The Required Cash Collateral Account Amount on the related Payment Date ................... $ - ------------------ b. The Available Cash Collateral Account Amount on the related Payment Date .................. $ - ------------------ 18. Investor Charge-Offs a. The aggregate amount of Investor Charge-Offs for the related Monthly Period ............... $ - ------------------ b. The aggregate amount of Investor Charge-Offs reimbursed on the Payment Date ............... $ - ------------------ 19. The Monthly Principal Reallocation Amount for the related Monthly Period .......................... $ - ------------------
Advanta Bank Corp. as Servicer By: /s/ MICHAEL COCO Name: Michael Coco Title: Vice President and Treasurer EXHIBIT C CLASS A CUSIP #00761HAP6 CLASS B CUSIP #00761HAQ4 CLASS C CUSIP #00761HAR2 MONTHLY NOTEHOLDER'S STATEMENT ADVANTA BANK CORP. ADVANTA BUSINESS CARD MASTER TRUST SERIES 2003-A PERIOD ENDING MAY 31, 2005 The information which is required to be prepared with respect to the Payment Date of June 20, 2005 and with respect to the performance of the Trust during the period of May 1, 2005 through May 31, 2005 is set forth below. Capitalized terms used in this statement have their respective meanings set forth in the Master Indenture and the Transfer and Servicing Agreement. References to certain sections and subsections are references to the respective sections and subsections of the Master Indenture as supplemented by the Series 2003-A Indenture Supplement. I. Information regarding the current monthly principal distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to principal payment to the Class A Noteholder ....... - ------------------ 2. The amount of distribution in respect to principal payment to the Class B Noteholder ....... - ------------------ 3. The amount of distribution in respect to principal payment to the Class C Noteholder ....... - ------------------ 4. The amount of distribution in respect to principal payment to the Class D Noteholder ....... - ------------------ II. Information regarding the current monthly interest distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to the Class A Monthly Interest ...................... 3.00528 ------------------ 2. The amount of distribution in respect to the Class B Monthly Interest ...................... 4.16778 ------------------ 3. The amount of distribution in respect to the Class C Monthly Interest ...................... 5.67472 ------------------ 4. The amount of distribution in respect to the Class D Monthly Interest ...................... 9.54972 ------------------ III. Information regarding the total monthly distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The total amount of distribution in respect to the Class A Noteholder ...................... 3.00528 ------------------ 2. The total amount of distribution in respect to the Class B Noteholder ...................... 4.16778 ------------------ 3. The total amount of distribution in respect to the Class C Noteholder ...................... 5.67472 ------------------ 4. The total amount of distribution in respect to the Class D Noteholder ...................... 9.54972 ------------------ IV. Information regarding the performance of the Advanta Business Card Master Trust 1. The aggregate amount of such Collections with respect to Principal Receivables for the Monthly Period preceding such Payment Date ............................................. $ 732,720,001.26 ------------------ 2. The aggregate amount of such Collections with respect to Finance Charge and Administrative Receivables for the Monthly Period preceding such Payment Date .............. $ 57,696,742.97 ------------------ 3. Recoveries for the preceding Monthly Period ................................................ $ 1,569,668.20 ------------------ 4. The Defaulted Amount for the preceding Monthly Period ...................................... $ 17,677,985.46 ------------------ 5. The annualized percentage equivalent of a fraction, the numerator of which is the Defaulted Amount less Recoveries for the preceding Monthly Period, and the denominator is the average Receivables for the preceding Monthly Period .................... 5.95% ------------------ 6. The total amount of Principal Receivables in the trust at the beginning of the preceding Monthly Period ................................................................... $ 3,223,666,959.35 ------------------ 7. The total amount of Principal Receivables in the trust as of the last day of the preceding Monthly Period ................................................................... $ 3,166,121,962.43 ------------------ 8. The total amount of Finance Charge and Administrative Receivables in the Trust at the beginning of the preceding Monthly Period .................................................. $ 54,072,505.86 ------------------
9. The total amount of Finance Charge and Administrative Receivables in the Trust as of the last day of the preceding Monthly Period ................................................................ $ 52,574,134.63 ------------------ 10. The aggregated Adjusted Invested Amounts of all Series of Notes outstanding as of the last day of the preceding Monthly Period ............................................................... $ 2,739,750,000.00 ------------------ 11. The Transferor Interest as of the last day of the preceding Monthly Period ........................ $ 426,371,962.43 ------------------ 12. The transferor percentage as of the last day of the preceding Monthly Period ...................... 13.47% ------------------ 13. The Required Transferor Percentage ................................................................ 6.00% ------------------ 14. The Required Transferor Interest .................................................................. $ 189,967,317.75 ------------------ 15. The monthly principal payment rate for the preceding Monthly Period ............................... 22.729% ------------------ 16. The balance in the Excess Funding Account as of the last day of the preceding Monthly Period ...... $ - ------------------ 17. The aggregate outstanding balance of the Accounts which were delinquent as of the close of business on the last day of the Monthly Period preceding such Payment Date:
Percentage Aggregate of Total Account Receivables Balance (a) Delinquent between 30 days and 59 days 1.209% $ 38,920,687.11 (b) Delinquent between 60 days and 89 days 0.940% $ 30,267,096.98 (c) Delinquent between 90 days and 119 days 0.816% $ 26,254,350.95 (d) Delinquent between 120 days and 149 days 0.631% $ 20,303,411.84 (e) Delinquent between 150 days and 179 days 0.549% $ 17,664,662.62 (f) Delinquent 180 days or greater 0.000% $ - ----- --------------- (g) Aggregate 4.145% $133,410,209.50 ===== ===============
V. Information regarding Series 2003-A 1. The amount of Principal Receivables in the Trust represented by the Invested Amount of Series 2003-A as of the last day of the related Monthly Period .......................... $ 400,000,000.00 ------------------ 2. The amount of Principal Receivables in the Trust represented by the Adjusted Invested Amount of Series 2003-A on the last day of the related Monthly Period ................... $ 400,000,000.00 ------------------ NOTE FACTORS 3. The amount of Principal Receivables in the Trust represented by the Class A Note Principal Balance on the last day of the related Monthly Period .......................... 1.0000 $ 320,000,000.00 ------------------ 4. The amount of Principal Receivables in the Trust represented by the Class B Note Principal Balance on the last day of the related Monthly Period .......................... 1.0000 $ 37,000,000.00 ------------------ 5. The amount of Principal Receivables in the Trust represented by the Class C Note Principal Balance on the last day of the related Monthly Period .......................... 1.0000 $ 29,000,000.00 ------------------ 6. The amount of Principal Receivables in the trust represented by the Class D Note Principal Balance on the last day of the related Monthly Period .......................... 1.0000 $ 14,000,000.00 ------------------ 7. The Floating Investor Percentage with respect to the period: May 1, 2005 through May 31, 2005 12.4082297% ------------------ 8. The Fixed Investor Percentage with respect to the period: May 1, 2005 through May 31, 2005 N/A ------------------ 9. The amount of Investor Principal Collections applicable to Series 2003-A ................. $ 90,917,580.78 ------------------ 10a. The amount of the Investor Finance Charge Collections on deposit in the Collection Account on the Related Payment Date to be treated as Servicer Interchange .............. $ 83,333.33 ------------------ 10b. The amount of Available Finance Charge Collections on deposit in the Collection Account on the related Payment Date .................................................... $ 5,413,679.37 ------------------ 10c. The amount of Available Finance Charge Collections not on deposit in the Collection Account on the related Payment Date pursuant to Section 8.04(a) of the Master Indenture .............................................................................. $ 1,698,518.72 ------------------ 11. The Investor Default Amount for the related Monthly Period .............................. $ 2,193,525.06 ------------------ 12. The Monthly Servicing Fee for the related Monthly Period ................................ $ 666,666.67 ------------------
13. Trust yields for the related Monthly Period a. The cash yield for the related Monthly Period ...................................... 21.59% ------------- b. The default rate for the related Monthly Period .................................... 6.58% ------------- c. The Net Portfolio Yield for the related Monthly Period ............................. 15.01% ------------- d. The Base Rate for the related Monthly Period ....................................... 6.24% ------------- e. The Excess Spread Percentage for the related Monthly Period ........................ 8.77% ------------- f. The Quarterly Excess Spread Percentage for the related Monthly Period .............. 9.51% ------------- i) Excess Spread Percentage related to May-05 8.77% ------------- ii) Excess Spread Percentage related to Apr-05 9.75% ------------- iii) Excess Spread Percentage related to Mar-05 10.00% ------------- 14. Floating Rate Determinations: LIBOR for the Interest Period from May 20, 2005 through and including June 19, 2005 .......... 3.09000% ------------- 15. Principal Funding Account a. The amount on deposit in the Principal Funding Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date) .............................................................................. $ - ------------- b. The Accumulation Shortfall with respect to the related Monthly Period .............. $ - ------------- c. The Principal Funding Investment Proceeds deposited in the Collection Account to be treated as Available Finance Charge Collections ................................. $ - ------------- 16. Reserve Account a. The amount on deposit in the Reserve Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date) ..... $ - ------------- b. The Reserve Draw Amount for the related Monthly Period deposited into the Collection Account to be treated as Available Finance Charge Collections ........... $ - ------------- c. Interest earnings on the Reserve Account deposited into the Collection Account to be treated as Available Finance Charge Collections ................................. $ - ------------- 17. Cash Collateral Account a. The Required Cash Collateral Account Amount on the related Payment Date ............ 8,000,000.00 ------------- b. The Available Cash Collateral Account Amount on the related Payment Date ........... $8,000,000.00 ------------- 18. Investor Charge-Offs a. The aggregate amount of Investor Charge-Offs for the related Monthly Period ........ $ - ------------- b. The aggregate amount of Investor Charge-Offs reimbursed on the Payment Date ........ $ - ------------- 19. The Monthly Principal Reallocation Amount for the related Monthly Period ................. $ - -------------
Advanta Bank Corp. as Servicer By: /s/ MICHAEL COCO Name: Michael Coco Title: Vice President and Treasurer EXHIBIT C CLASS A CUSIP #00761HAT8 CLASS B CUSIP #00761HAU5 CLASS C CUSIP #00761HAV3 MONTHLY NOTEHOLDER'S STATEMENT ADVANTA BANK CORP. ADVANTA BUSINESS CARD MASTER TRUST SERIES 2003-B PERIOD ENDING MAY 31, 2005 The information which is required to be prepared with respect to the Payment Date of June 20, 2005 and with respect to the performance of the Trust during the period of May 1, 2005 through May 31, 2005 is set forth below. Capitalized terms used in this statement have their respective meanings set forth in the Master Indenture and the Transfer and Servicing Agreement. References to certain sections and subsections are references to the respective sections and subsections of the Master Indenture as supplemented by the Series 2003-B Indenture Supplement. I. Information regarding the current monthly principal distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to principal payment to the Class A Noteholder ........... $ - ----------------- 2. The amount of distribution in respect to principal payment to the Class B Noteholder ........... $ - ----------------- 3. The amount of distribution in respect to principal payment to the Class C Noteholder ........... $ - ----------------- 4. The amount of distribution in respect to principal payment to the Class D Noteholder ........... $ - ----------------- II. Information regarding the current monthly interest distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to the Class A Monthly Interest .......................... 2.96222 ----------------- 2. The amount of distribution in respect to the Class B Monthly Interest .......................... 4.08167 ----------------- 3. The amount of distribution in respect to the Class C Monthly Interest .......................... 6.19139 ----------------- 4. The amount of distribution in respect to the Class D Monthly Interest .......................... 9.54972 ----------------- III. Information regarding the total monthly distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The total amount of distribution in respect to the Class A Noteholder .......................... 2.96222 ----------------- 2. The total amount of distribution in respect to the Class B Noteholder .......................... 4.08167 ----------------- 3. The total amount of distribution in respect to the Class C Noteholder .......................... 6.19139 ----------------- 4. The total amount of distribution in respect to the Class D Noteholder .......................... 9.54972 ----------------- IV. Information regarding the performance of the Advanta Business Card Master Trust 1. The aggregate amount of such Collections with respect to Principal Receivables for the Monthly Period preceding such Payment Date ............................................................. $ 732,720,001.26 ----------------- 2. The aggregate amount of such Collections with respect to Finance Charge and Administrative Receivables for the Monthly Period preceding such Payment Date ................................. $ 57,696,742.97 ----------------- 3. Recoveries for the preceding Monthly Period .................................................... $ 1,569,668.20 ----------------- 4. The Defaulted Amount for the preceding Monthly Period .......................................... $ 17,677,985.46 ----------------- 5. The annualized percentage equivalent of a fraction, the numerator of which is the Defaulted Amount less Recoveries for the preceding Monthly Period, and the denominator is the average Receivables for the preceding Monthly Period ................................................... 5.95% ----------------- 6. The total amount of Principal Receivables in the trust at the beginning of the preceding Monthly Period ......................................................................................... $3,223,666,959.35 ----------------- 7. The total amount of Principal Receivables in the trust as of the last day of the preceding Monthly Period ................................................................................. $3,166,121,962.43 ----------------- 8. The total amount of Finance Charge and Administrative Receivables in the Trust at the beginning of the preceding Monthly Period ................................................................ $ 54,072,505.86 ----------------- 9. The total amount of Finance Charge and Administrative Receivables in the Trust as of the last day of the preceding Monthly Period ............................................................ $ 52,574,134.63 -----------------
10. The aggregated Adjusted Invested Amounts of all Series of Notes outstanding as of the last day of the preceding Monthly Period ................................................... $ 2,739,750,000.00 ------------------ 11. The Transferor Interest as of the last day of the preceding Monthly Period ..................... $ 426,371,962.43 ------------------ 12. The transferor percentage as of the last day of the preceding Monthly Period ................... 13.47% ------------------ 13. The Required Transferor Percentage ............................................................. 6.00% ------------------ 14. The Required Transferor Interest ............................................................... $ 189,967,317.75 ------------------ 15. The monthly principal payment rate for the preceding Monthly Period ............................ 22.729% ------------------ 16. The balance in the Excess Funding Account as of the last day of the preceding Monthly Period ... $ - ------------------ 17. The aggregate outstanding balance of the Accounts which were delinquent as of the close of business on the last day of the Monthly Period preceding such Payment Date:
Percentage Aggregate of Total Account Receivables Balance (a) Delinquent between 30 days and 59 days 1.209% $ 38,920,687.11 (b) Delinquent between 60 days and 89 days 0.940% $ 30,267,096.98 (c) Delinquent between 90 days and 119 days 0.816% $ 26,254,350.95 (d) Delinquent between 120 days and 149 days 0.631% $ 20,303,411.84 (e) Delinquent between 150 days and 179 days 0.549% $ 17,664,662.62 (f) Delinquent 180 days or greater 0.000% $ - ----- --------------- (g) Aggregate 4.145% $133,410,209.50 ===== ===============
V. Information regarding Series 2003-B 1. The amount of Principal Receivables in the Trust represented by the Invested Amount of Series 2003-B as of the last day of the related Monthly Period .......................... $300,000,000.00 --------------- 2. The amount of Principal Receivables in the Trust represented by the Adjusted Invested Amount of Series 2003-B on the last day of the related Monthly Period ................... $300,000,000.00 --------------- NOTE FACTORS 3. The amount of Principal Receivables in the Trust represented by the Class A Note Principal Balance on the last day of the related Monthly Period ......................... 1.0000 $240,000,000.00 --------------- 4. The amount of Principal Receivables in the Trust represented by the Class B Note Principal Balance on the last day of the related Monthly Period ......................... 1.0000 $ 27,750,000.00 --------------- 5. The amount of Principal Receivables in the Trust represented by the Class C Note Principal Balance on the last day of the related Monthly Period ......................... 1.0000 $ 21,750,000.00 --------------- 6. The amount of Principal Receivables in the trust represented by the Class D Note Principal Balance on the last day of the related Monthly Period ......................... 1.0000 $ 10,500,000.00 --------------- 7. The Floating Investor Percentage with respect to the period: May 1, 2005 through May 31, 2005 9.3061722% --------------- 8. The Fixed Investor Percentage with respect to the period: May 1, 2005 through May 31, 2005 N/A --------------- 9. The amount of Investor Principal Collections applicable to Series 2003-B ................ $ 68,188,185.06 --------------- 10a. The amount of Available Finance Charge Collections on deposit in the Collection Account on the related Payment Date ..................................................... $ 4,060,259.52 --------------- 10b. The amount of Available Finance Charge Collections not on deposit in the Collection Account on the related Payment Date pursuant to Section 8.04(a) of the Master Indenture . $ 1,336,389.01 --------------- 11. The Investor Default Amount for the related Monthly Period ............................. $ 1,645,143.76 --------------- 12. The Monthly Servicing Fee for the related Monthly Period ............................... $ 500,000.00 --------------- 13. Trust yields for the related Monthly Period a. The cash yield for the related Monthly Period ...................................... 21.59% --------------- b. The default rate for the related Monthly Period .................................... 6.58% --------------- c. The Net Portfolio Yield for the related Monthly Period ............................. 15.01% ---------------
d. The Base Rate for the related Monthly Period.......................................... 6.24% ------------- e. The Excess Spread Percentage for the related Monthly Period........................... 8.77% ------------- f. The Quarterly Excess Spread Percentage for the related Monthly Period................. 9.51% ------------- i) Excess Spread Percentage related to May-05 8.77% ------------- ii) Excess Spread Percentage related to Apr-05 9.76% ------------- iii) Excess Spread Percentage related to Mar-05 10.01% ------------- 14. Floating Rate Determinations: LIBOR for the Interest Period from May 20, 2005 through and including June 19, 2005 3.09000% ------------- 15. Principal Funding Account a. The amount on deposit in the Principal Funding Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date)................................................................................. $ - ------------- b. The Accumulation Shortfall with respect to the related Monthly Period................. $ - ------------- c. The Principal Funding Investment Proceeds deposited in the Collection Account to be treated as Available Finance Charge Collections......................... $ - ------------- 16. Reserve Account a. The amount on deposit in the Reserve Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date)........ $ - ------------- b. The Reserve Draw Amount for the related Monthly Period deposited into the Collection Account to be treated as Available Finance Charge Collections.............. $ - ------------- c. Interest earnings on the Reserve Account deposited into the Collection Account to be treated as Available Finance Charge Collections......................... $ - ------------- 17. Cash Collateral Account a. The Required Cash Collateral Account Amount on the related Payment Date............... $6,750,000.00 ------------- b. The Available Cash Collateral Account Amount on the related Payment Date.............. $6,750,000.00 ------------- 18. Investor Charge-Offs a. The aggregate amount of Investor Charge-Offs for the related Monthly Period........... $ - ------------- b. The aggregate amount of Investor Charge-Offs reimbursed on the Payment Date........... $ - ------------- 19. The Monthly Principal Reallocation Amount for the related Monthly Period.................. $ - -------------
Advanta Bank Corp. as Servicer By: /s/ MICHAEL COCO Name: Michael Coco Title: Vice President and Treasurer EXHIBIT C CLASS A-1 CUSIP #00761HAW1 CLASS A-2 CUSIP #00761HAX9 CLASS B CUSIP #00761HAY7 CLASS C-1 CUSIP #00761HBA8 CLASS C-2 CUSIP #00761HBB6 MONTHLY NOTEHOLDER'S STATEMENT ADVANTA BANK CORP. ADVANTA BUSINESS CARD MASTER TRUST SERIES 2003-C PERIOD ENDING MAY 31, 2005 The information which is required to be prepared with respect to the Payment Date of June 20, 2005 and with respect to the performance of the Trust during the period of May 1, 2005 through May 31, 2005 is set forth below. Capitalized terms used in this statement have their respective meanings set forth in the Master Indenture and the Transfer and Servicing Agreement. References to certain sections and subsections are references to the respective sections and subsections of the Master Indenture as supplemented by the Series 2003-C Indenture Supplement. I. Information regarding the current monthly principal distribution to the Noteholders (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to principal payment to the Class A-1 Noteholders........... $ - ----------------- 2. The amount of distribution in respect to principal payment to the Class A-2 Noteholders........... $ - ----------------- 3. The amount of distribution in respect to principal payment to the Class B Noteholders............. $ - ----------------- 4. The amount of distribution in respect to principal payment to the Class C-1 Noteholders........... $ - ----------------- 5. The amount of distribution in respect to principal payment to the Class C-2 Noteholders........... $ - ----------------- 6. The amount of distribution in respect to principal payment to the Class D Noteholders............. $ - ----------------- II. Information regarding the current monthly interest distribution to the Noteholders (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to the Class A-1 Monthly Interest........................... $ 2.93555 ----------------- 2. The amount of distribution in respect to the Class A-2 Monthly Interest........................... $ 2.85889 ----------------- 3. The amount of distribution in respect to the Class B Monthly Interest............................. $ 3.95250 ----------------- 4. The amount of distribution in respect to the Class C-1 Monthly Interest........................... $ 6.06222 ----------------- 5. The amount of distribution in respect to the Class C-2 Monthly Interest........................... $ 4.95833 ----------------- 6. The amount of distribution in respect to the Class D Monthly Interest............................. $ 8.68861 ----------------- III. Information regarding the total monthly distribution to the Noteholders (Stated on the basis of $1,000 original Note Principal Balance) 1. The total amount of distribution in respect to the Class A-1 Noteholders.......................... $ 2.93555 ----------------- 2. The total amount of distribution in respect to the Class A-2 Noteholders.......................... $ 2.85889 ----------------- 3. The total amount of distribution in respect to the Class B Noteholders............................ $ 3.95250 ----------------- 4. The total amount of distribution in respect to the Class C-1 Noteholders.......................... $ 6.06222 ----------------- 5. The total amount of distribution in respect to the Class C-2 Noteholders.......................... $ 4.95833 ----------------- 6. The total amount of distribution in respect to the Class D Noteholders............................ $ 8.68861 ----------------- IV. Information regarding the performance of the Advanta Business Card Master Trust 1. The aggregate amount of such Collections with respect to Principal Receivables for the Monthly Period preceding such Payment Date................................................................ $ 732,720,001.26 ----------------- 2. The aggregate amount of such Collections with respect to Finance Charge and Administrative Receivables for the Monthly Period preceding such Payment Date.................................... $ 57,696,742.97 ----------------- 3. Recoveries for the preceding Monthly Period....................................................... $ 1,569,668.20 ----------------- 4. The Defaulted Amount for the preceding Monthly Period ............................................ $ 17,677,985.46 ----------------- 5. The annualized percentage equivalent of a fraction, the numerator of which is the Defaulted Amount less Recoveries for the preceding Monthly Period, and the denominator is the average Receivables for the preceding Monthly Period...................................................... 5.95% ----------------- 6. The total amount of Principal Receivables in the trust at the beginning of the preceding Monthly Period............................................................................................ $3,223,666,959.35 ----------------- 7. The total amount of Principal Receivables in the trust as of the last day of the preceding Monthly Period............................................................................................ $3,166,121,962.43 ----------------- 8. The total amount of Finance Charge and Administrative Receivables in the Trust at the beginning of the preceding Monthly Period................................................................... $ 54,072,505.86 ----------------- 9. The total amount of Finance Charge and Administrative Receivables in the Trust as of the last day of the preceding Monthly Period............................................................... $ 52,574,134.63 -----------------
10. The aggregated Adjusted Invested Amounts of all Series of Notes outstanding as of the last day of the preceding Monthly Period .......................................... $2,739,750,000.00 ----------------- 11. The Transferor Interest as of the last day of the preceding Monthly Period ............ $ 426,371,962.43 ----------------- 12. The transferor percentage as of the last day of the preceding Monthly Period .......... 13.47% ----------------- 13. The Required Transferor Percentage .................................................... 6.00% ----------------- 14. The Required Transferor Interest ...................................................... $ 189,967,317.75 ----------------- 15. The monthly principal payment rate for the preceding Monthly Period ................... 22.729% ----------------- 16. The balance in the Excess Funding Account as of the last day of the preceding Monthly Period ................................................................................ $ - ----------------- 17. The aggregate outstanding balance of the Accounts which were delinquent as of the close of business on the last day of the Monthly Period preceding such Payment Date:
Percentage Aggregate of Total Account Receivables Balance ----------- --------------- (a) Delinquent between 30 days and 59 days 1.209% $ 38,920,687.11 (b) Delinquent between 60 days and 89 days 0.940% $ 30,267,096.98 (c) Delinquent between 90 days and 119 days 0.816% $ 26,254,350.95 (d) Delinquent between 120 days and 149 days 0.631% $ 20,303,411.84 (e) Delinquent between 150 days and 179 days 0.549% $ 17,664,662.62 (f) Delinquent 180 days or greater 0.000% $ - ----- --------------- (g) Aggregate 4.145% $133,410,209.50 ===== ===============
V. Information regarding Series 2003-C 1. The amount of Principal Receivables in the Trust represented by the Invested Amount of Series 2003-C as of the last day of the related Monthly Period ............................ $300,000,000.00 --------------- 2. The amount of Principal Receivables in the Trust represented by the Adjusted Invested Amount of Series 2003-C on the last day of the related Monthly Period ..................... $300,000,000.00 --------------- NOTE FACTORS 3. The amount of Principal Receivables in the Trust represented by the Class A-1 Note Principal Balance on the last day of the related Monthly Period ........................... 1.0000 $210,000,000.00 --------------- 4. The amount of Principal Receivables in the Trust represented by the Class A-2 Note Principal Balance on the last day of the related Monthly Period ........................... 1.0000 $ 30,000,000.00 --------------- 5. The amount of Principal Receivables in the Trust represented by the Class B Note Principal Balance on the last day of the related Monthly Period ........................... 1.0000 $ 27,750,000.00 --------------- 6. The amount of Principal Receivables in the Trust represented by the Class C-1 Note Principal Balance on the last day of the related Monthly Period ........................... 1.0000 $ 10,000,000.00 --------------- 7. The amount of Principal Receivables in the Trust represented by the Class C-2 Note Principal Balance on the last day of the related Monthly Period ........................... 1.0000 $ 11,750,000.00 --------------- 8. The amount of Principal Receivables in the trust represented by the Class D Note Principal Balance on the last day of the related Monthly Period ........................... 1.0000 $ 10,500,000.00 --------------- 9. The Floating Investor Percentage with respect to the period: May 1, 2005 through May 31, 2005 9.3061722% --------------- 10. The Fixed Investor Percentage with respect to the period: May 1, 2005 through May 31, 2005 N/A --------------- 11. The amount of Investor Principal Collections applicable to Series 2003-C ................. $ 68,188,185.06 --------------- 12a. The amount of Available Finance Charge Collections on deposit in the Collection Account on the related Payment Date ....................................................... $ 4,061,178.13 --------------- 12b. The amount of Available Finance Charge Collections not on deposit in the Collection Account on the related Payment Date pursuant to Section 8.04(a) of the Master Indenture ... $ 1,336,389.01 --------------- 13. The Investor Default Amount for the related Monthly Period ............................... $ 1,645,143.76 --------------- 14. The Monthly Servicing Fee for the related Monthly Period ................................. $ 500,000.00 ---------------
15. Trust yields for the related Monthly Period a. The cash yield for the related Monthly Period ......................................... 21.59% ------- b. The default rate for the related Monthly Period ....................................... 6.58% ------- c. The Net Portfolio Yield for the related Monthly Period ................................ 15.01% ------- d. The Base Rate for the related Monthly Period .......................................... 6.09% ------- e. The Excess Spread Percentage for the related Monthly Period ........................... 8.92% ------- f. The Quarterly Excess Spread Percentage for the related Monthly Period ................. 9.65% ------- i) Excess Spread Percentage related to May-05 8.92% ------- ii) Excess Spread Percentage related to Apr-05 9.89% ------- iii) Excess Spread Percentage related to Mar-05 10.13% ------- 16. Floating Rate Determinations: Average Federal Funds Rate for the Interest Period from May 20, 2005 through and including June 19, 2005 3.00903% ------- LIBOR for the Interest Period from May 20, 2005 through and including June 19, 2005 3.09000% -------
Federal Funds Rate in effect for each day during the interest period of May 20, 2005 through and including June 19, 2005 May 20 3.02% May 28 3.01% June 5 3.00% June 13 3.01% May 21 3.02% May 29 3.01% June 6 2.99% June 14 3.04% May 22 3.02% May 30 3.01% June 7 3.00% June 15 3.01% May 23 3.01% May 31 3.01% June 8 2.96% June 16 3.01% May 24 3.01% June 1 3.09% June 9 2.96% June 17 3.01% May 25 2.99% June 2 3.02% June 10 3.01% June 18 3.01% May 26 3.01% June 3 3.00% June 11 3.01% June 19 3.01% May 27 3.01% June 4 3.00% June 12 3.01%
17. Principal Funding Account a. The amount on deposit in the Principal Funding Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date) ................................................................................ $ - ------------- b. The Accumulation Shortfall with respect to the related Monthly Period ................ $ - ------------- c. The Principal Funding Investment Proceeds deposited in the Collection Account to be treated as Available Finance Charge Collections ...................................... $ - ------------- 18. Reserve Account a. The amount on deposit in the Reserve Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date) ....... $ 375,000.00 ------------- b. The Reserve Draw Amount for the related Monthly Period deposited into the Collection Account to be treated as Available Finance Charge Collections ........................ $ - ------------- c. Interest earnings on the Reserve Account deposited into the Collection Account to be treated as Available Finance Charge Collections ...................................... $ 918.61 ------------- 19. Cash Collateral Account a. The Required Cash Collateral Account Amount on the related Payment Date .............. $6,750,000.00 ------------- b. The Available Cash Collateral Account Amount on the related Payment Date ............. $6,750,000.00 ------------- 20. Investor Charge-Offs a. The aggregate amount of Investor Charge-Offs for the related Monthly Period .......... $ - ------------- b. The aggregate amount of Investor Charge-Offs reimbursed on the Payment Date .......... $ - -------------
21. The Monthly Principal Reallocation Amount for the related Monthly Period .................... $ - -------------
Advanta Bank Corp. as Servicer By: /s/ MICHAEL COCO Name: Michael Coco Title: Vice President and Treasurer EXHIBIT C CLASS A CUSIP #00761HBC4 CLASS B CUSIP #00761HBD2 CLASS C CUSIP #00761HBE0 MONTHLY NOTEHOLDER'S STATEMENT ADVANTA BANK CORP. ADVANTA BUSINESS CARD MASTER TRUST SERIES 2003-D PERIOD ENDING MAY 31, 2005 The information which is required to be prepared with respect to the Payment Date of June 20, 2005 and with respect to the performance of the Trust during the period of May 1, 2005 through May 31, 2005 is set forth below. Capitalized terms used in this statement have their respective meanings set forth in the Master Indenture and the Transfer and Servicing Agreement. References to certain sections and subsections are references to the respective sections and subsections of the Master Indenture as supplemented by the Series 2003-D Indenture Supplement. I. Information regarding the current monthly principal distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to principal payment to the Class A Noteholder............. $ - ----------------- 2. The amount of distribution in respect to principal payment to the Class B Noteholder............. $ - ----------------- 3. The amount of distribution in respect to principal payment to the Class C Noteholder............. $ - ----------------- 4. The amount of distribution in respect to principal payment to the Class D Noteholder............. $ - ----------------- II. Information regarding the current monthly interest distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The amount of distribution in respect to the Class A Monthly Interest............................ 2.89333 ----------------- 2. The amount of distribution in respect to the Class B Monthly Interest............................ 3.65111 ----------------- 3. The amount of distribution in respect to the Class C Monthly Interest............................ 5.15806 ----------------- 4. The amount of distribution in respect to the Class D Monthly Interest............................ 9.11917 ----------------- III. Information regarding the total monthly distribution to the Noteholder (Stated on the basis of $1,000 original Note Principal Balance) 1. The total amount of distribution in respect to the Class A Noteholder............................ 2.89333 ----------------- 2. The total amount of distribution in respect to the Class B Noteholder............................ 3.65111 ----------------- 3. The total amount of distribution in respect to the Class C Noteholder............................ 5.15806 ----------------- 4. The total amount of distribution in respect to the Class D Noteholder ........................... 9.11917 ----------------- IV. Information regarding the performance of the Advanta Business Card Master Trust 1. The aggregate amount of such Collections with respect to Principal Receivables for the Monthly Period preceding such Payment Date............................................................... $ 732,720,001.26 ----------------- 2. The aggregate amount of such Collections with respect to Finance Charge and Administrative Receivables for the Monthly Period preceding such Payment Date................................... $ 57,696,742.97 ----------------- 3. Recoveries for the preceding Monthly Period...................................................... $ 1,569,668.20 ----------------- 4. The Defaulted Amount for the preceding Monthly Period............................................ $ 17,677,985.46 ----------------- 5. The annualized percentage equivalent of a fraction, the numerator of which is the Defaulted Amount less Recoveries for the preceding Monthly Period, and the denominator is the average Receivables for the preceding Monthly Period..................................................... 5.95% ----------------- 6. The total amount of Principal Receivables in the trust at the beginning of the preceding Monthly Period................................................................................... $3,223,666,959.35 ----------------- 7. The total amount of Principal Receivables in the trust as of the last day of the preceding Monthly Period................................................................................... $3,166,121,962.43 ----------------- 8. The total amount of Finance Charge and Administrative Receivables in the Trust at the beginning of the preceding Monthly Period.................................................................. $ 54,072,505.86 ----------------- 9. The total amount of Finance Charge and Administrative Receivables in the Trust as of the last day of the preceding Monthly Period.................................................................. $ 52,574,134.63 ----------------- 10. The aggregated Adjusted Invested Amounts of all Series of Notes outstanding as of the last day of the preceding Monthly Period.................................................................... $2,739,750,000.00 -----------------
11. The Transferor Interest as of the last day of the preceding Monthly Period ..................... $ 426,371,962.43 ----------------- 12. The transferor percentage as of the last day of the preceding Monthly Period ................... 13.47% ----------------- 13. The Required Transferor Percentage ............................................................. 6.00% ----------------- 14. The Required Transferor Interest ............................................................... $ 189,967,317.75 ----------------- 15. The monthly principal payment rate for the preceding Monthly Period ............................ 22.729% ----------------- 16. The balance in the Excess Funding Account as of the last day of the preceding Monthly Period ......................................................................................... $ - ----------------- 17. The aggregate outstanding balance of the Accounts which were delinquent as of the close of business on the last day of the Monthly Period preceding such Payment Date:
Percentage Aggregate of Total Account Receivables Balance (a) Delinquent between 30 days and 59 days 1.209% $ 38,920,687.11 (b) Delinquent between 60 days and 89 days 0.940% $ 30,267,096.98 (c) Delinquent between 90 days and 119 days 0.816% $ 26,254,350.95 (d) Delinquent between 120 days and 149 days 0.631% $ 20,303,411.84 (e) Delinquent between 150 days and 179 days 0.549% $ 17,664,662.62 (f) Delinquent 180 days or greater 0.000% $ - ----- -------------------- (g) Aggregate 4.145% $ 133,410,209.50 ===== ====================
V. Information regarding Series 2003-D 1. The amount of Principal Receivables in the Trust represented by the Invested Amount of Series 2003-D as of the last day of the related Monthly Period .......... $ 400,000,000.00 ----------------- 2. The amount of Principal Receivables in the Trust represented by the Adjusted Invested Amount of Series 2003-D on the last day of the related Monthly Period .... $ 400,000,000.00 ----------------- NOTE FACTORS 3. The amount of Principal Receivables in the Trust represented by the Class A Note Principal Balance on the last day of the related Monthly Period .............. 1.0000 $ 320,000,000.00 ----------------- 4. The amount of Principal Receivables in the Trust represented by the Class B Note Principal Balance on the last day of the related Monthly Period .............. 1.0000 $ 37,000,000.00 ----------------- 5. The amount of Principal Receivables in the Trust represented by the Class C Note Principal Balance on the last day of the related Monthly Period .............. 1.0000 $ 29,000,000.00 ----------------- 6. The amount of Principal Receivables in the trust represented by the Class D Note Principal Balance on the last day of the related Monthly Period .............. 1.0000 $ 14,000,000.00 ----------------- 7. The Floating Investor Percentage with respect to the period: May 1, 2005 through May 31, 2005 ..................................................... 12.4082297% ----------------- 8. The Fixed Investor Percentage with respect to the period: May 1, 2005 through May 31, 2005 ..................................................... N/A ----------------- 9. The amount of Investor Principal Collections applicable to Series 2003-D .......... $ 90,917,580.78 ----------------- 10a. The amount of Available Finance Charge Collections on deposit in the Collection Account on the related Payment Date .................................. $ 5,413,679.37 ----------------- 10b. The amount of Available Finance Charge Collections not on deposit in the Collection Account on the related Payment Date pursuant to Section 8.04(a) of the Master Indenture ............................................................ $ 1,781,852.05 ----------------- 11. The Investor Default Amount for the related Monthly Period ....................... $ 2,193,525.06 ----------------- 12. The Monthly Servicing Fee for the related Monthly Period ......................... $ 666,666.67 ----------------- 13. Trust yields for the related Monthly Period a. The cash yield for the related Monthly Period ................................ 21.59% ----------------- b. The default rate for the related Monthly Period .............................. 6.58% ----------------- c. The Net Portfolio Yield for the related Monthly Period ....................... 15.01% ----------------- d. The Base Rate for the related Monthly Period ................................. 6.01% ----------------- e. The Excess Spread Percentage for the related Monthly Period .................. 9.00% ----------------- f. The Quarterly Excess Spread Percentage for the related Monthly Period ........ 9.73% -----------------
i) Excess Spread Percentage related to May-05 9.00% ----------------- ii) Excess Spread Percentage related to Apr-05 9.97% ----------------- iii) Excess Spread Percentage related to Mar-05 10.22% ----------------- 14. Floating Rate Determinations: LIBOR for the Interest Period from May 20, 2005 through and including June 19, 2005 3.09000% ----------------- 15. Principal Funding Account a. The amount on deposit in the Principal Funding Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date).............. $ - ----------------- b. The Accumulation Shortfall with respect to the related Monthly Period....................... ----------------- c. The Principal Funding Investment Proceeds deposited in the Collection Account to be treated as Available Finance Charge Collections..................................................... $ - ----------------- 16. Reserve Account a. The amount on deposit in the Reserve Account on the related Payment Date (after taking into consideration deposits and withdraws for the related Payment Date).......................... $ - ----------------- b. The Reserve Draw Amount for the related Monthly Period deposited into the Collection Account to be treated as Available Finance Charge Collections....................................... $ - ----------------- c. Interest earnings on the Reserve Account deposited into the Collection Account to be treated as Available Finance Charge Collections..................................................... $ - ----------------- 17. Cash Collateral Account a. The Required Cash Collateral Account Amount on the related Payment Date .................... $ 9,000,000.00 ----------------- b. The Available Cash Collateral Account Amount on the related Payment Date ................... $ 9,000,000.00 ----------------- 18. Investor Charge-Offs a. The aggregate amount of Investor Charge-Offs for the related Monthly Period ................ $ - ----------------- b. The aggregate amount of Investor Charge-Offs reimbursed on the Payment Date ................ $ - ----------------- 19. The Monthly Principal Reallocation Amount for the related Monthly Period ....................... $ - -----------------
Advanta Bank Corp. as Servicer By: /s/ MICHAEL COCO Name: Michael Coco Title: Vice President and Treasurer EXHIBIT C MONTHLY NOTEHOLDER'S STATEMENT ADVANTA BANK CORP. ADVANTA BUSINESS CARD MASTER TRUST ADVANTASERIES PERIOD ENDING MAY 31, 2005 The information which is required to be prepared with respect to the Payment Date of June 20, 2005 and with respect to the performance of the Trust during the period of May 1, 2005 through May 31, 2005 is set forth below. Capitalized terms used in this statement have their respective meanings set forth in the Master Indenture as supplemented by the AdvantaSeries Indenture Supplement, the Transfer and Servicing Agreement or the Trust Agreement. References to certain sections and subsections are references to the respective sections and subsections of the Master Indenture as supplemented by the AdvantaSeries Indenture Supplement. I. Information regarding the current monthly principal distribution to the Noteholders
Total amount of Principal CUSIP Number to be paid Per $1,000 ------------ ------------------------- ----------
NOTHING TO REPORT II. Information regarding the current monthly interest distribution to the Noteholders
Total amount of interest CUSIP Number to be paid Per $1,000 ------------ ------------------------- ---------- 2005-A1 00761H BJ 9 $ 592,500.00 2.37000 2005-B1 00761H BH 3 298,805.56 2.98806 2004-C1 00761H BG 5 356,500.00 3.56500 2004-D1 69,663.89 6.96639 2005-D1 76,350.00 3.81750
III. Information regarding the performance of the Advanta Business Card Master Trust 1. The aggregate amount of such Collections with respect to Principal Receivables for the Monthly Period preceding such Payment Date $ 732,720,001.26 ----------------- 2. The aggregate amount of such Collections with respect to Finance Charge and Administrative Receivables for the Monthly Period preceding such Payment Date $ 57,696,742.97 ----------------- 3. Recoveries for the Monthly Period preceding such Payment Date $ 1,569,668.20 ----------------- 4. The Defaulted Amount for the Monthly Period preceding such Payment Date $ 17,677,985.46 ----------------- 5. The annualized percentage equivalent of a fraction, the numerator of which is the Defaulted Amount less Recoveries for the preceding Monthly Period, and the denominator is the average Receivables for the preceding Monthly Period 5.95% ----------------- 6. The total amount of Principal Receivables in the trust at the beginning of the preceding Monthly Period $3,223,666,959.35 ----------------- 7. The total amount of Principal Receivables in the trust as of the last day of the preceding Monthly Period $3,166,121,962.43 ----------------- 8. The total amount of Finance Charge and Administrative Receivables in the Trust at the beginning of the preceding Monthly Period $ 54,072,505.86 ----------------- 9. The total amount of Finance Charge and Administrative Receivables in the Trust as of the last day of the preceding Monthly Period $ 52,574,134.63 ----------------- 10. The aggregated Adjusted Invested Amounts of all Series of Notes outstanding as of the last day of the preceding Monthly Period $2,739,750,000.00 ----------------- 11. The Transferor Interest as of the end of the Monthly Period preceding such Payment Date $ 426,371,962.43 ----------------- 12. The transferor percentage as of the end of the Monthly Period preceding such Payment Date 13.47% ----------------- 13. The Required Transferor Percentage 6.00% ----------------- 14. The Required Transferor Interest $ 189,967,317.75 ----------------- 15. The monthly principal payment rate for the Monthly Period preceding such Payment Date 22.729% ----------------- 16. The balance in the Excess Funding Account as of the end of the Monthly Period preceding such Payment Date $ - -----------------
17. The aggregate outstanding balance of the Accounts which were delinquent as of the end of the Monthly Period preceding such Payment Date:
Percentage of Total Aggregate Account Receivables Balance ------------------- ----------------- (a) Delinquent between 30 days and 59 days 1.209% $ 38,920,687.11 (b) Delinquent between 60 days and 89 days 0.940% 30,267,096.98 (c) Delinquent between 90 days and 119 days 0.816% 26,254,350.95 (d) Delinquent between 120 days and 149 days 0.631% 20,303,411.84 (e) Delinquent between 150 days and 179 days 0.549% 17,664,662.62 (f) Delinquent 180 days or greater 0.000% - ----- ---------------- (g) Aggregate 4.145% $ 133,410,209.50 ===== ================
IV. Information regarding the AdvantaSeries 1. AdvantaSeries balances and amounts as of the end of the Monthly Period preceding such Payment Date
Initial Outstanding Adjusted Principal Principal Outstanding Invested Adjusted Invested Balance Balance Principal Balance Amount Amount ---------------- ----------------- ----------------- ------------------ ----------------- 2005-A1 $ 250,000,000.00 $ 250,000,000.00 $ 250,000,000.00 $ 250,000,000.00 $ 250,000,000.00 ---------------- ----------------- ----------------- ------------------ ----------------- Total Class A $ 250,000,000.00 $ 250,000,000.00 $ 250,000,000.00 $ 250,000,000.00 $ 250,000,000.00 2005-B1 $ 100,000,000.00 $ 100,000,000.00 $ 100,000,000.00 $ 100,000,000.00 $ 100,000,000.00 ---------------- ----------------- ----------------- ------------------ ----------------- Total Class B $ 100,000,000.00 $ 100,000,000.00 $ 100,000,000.00 $ 100,000,000.00 $ 100,000,000.00 2004-C1 $ 100,000,000.00 $ 100,000,000.00 $ 100,000,000.00 $ 100,000,000.00 $ 100,000,000.00 ---------------- ----------------- ----------------- ------------------ ----------------- Total Class C $ 100,000,000.00 $ 100,000,000.00 $ 100,000,000.00 $ 100,000,000.00 $ 100,000,000.00 2004-D1 $ 10,000,000.00 $ 10,000,000.00 $ 10,000,000.00 $ 10,000,000.00 $ 10,000,000.00 2005-D1 $ 20,000,000.00 $ 20,000,000.00 $ 20,000,000.00 $ 20,000,000.00 $ 20,000,000.00 ---------------- ----------------- ----------------- ------------------ ----------------- Total Class D $ 30,000,000.00 $ 30,000,000.00 $ 30,000,000.00 $ 30,000,000.00 $ 30,000,000.00 ---------------- ----------------- ----------------- ------------------ ----------------- Total AdvantaSeries $ 480,000,000.00 $ 480,000,000.00 $ 480,000,000.00 $ 480,000,000.00 $ 480,000,000.00 ================ ================= ================= ================== =================
2. Weighted Average Floating Allocation Amount for the related Monthly Period $ 279,677,419.35 ---------------- 3. The Floating Investor Percentage with respect to the period: May 1, 2005 through May 23, 2005 6.5143206% ---------------- May 24, 2005 through May 31, 2005 14.9847065% ---------------- 4. The Fixed Investor Percentage with respect to the period: May 1, 2005 through May 23, 2005 6.5143206% ---------------- May 24, 2005 through May 31, 2005 14.9847065% ---------------- 5. The amount of Investor Principal Collections applicable to the AdvantaSeries $ 63,956,983.53 ---------------- 6a. The amount of Available Finance Charge Collections on deposit in the Collection Account on the related Payment Date $ 4,227,700.78 ---------------- 6b. The amount of Available Finance Charge Collections not on deposit in the Collection Account on related Payment Date pursuant to Section 8.04(a) of the Master Indenture $ 919,706.15 ---------------- 7. The AdvantaSeries Defaulted Amount for the related Monthly Period $ 2,363,881.33 ---------------- 8. The AdvantaSeries Monthly Servicing Fee for the related Monthly Period $ 470,000.00 ---------------- 9. AdvantaSeries performance for the related Monthly Period a. The cash yield for the related Monthly Period 22.08% ---------------- b. The default rate for the related Monthly Period 10.14% ---------------- c. The Net Portfolio Yield for the related Monthly Period 11.94% ---------------- d. The Base Rate for the related Monthly Period 5.61% ---------------- e. The Excess Spread Percentage for the related Monthly Period 6.33% ---------------- f. The Quarterly Excess Spread Percentage 7.98% ---------------- g. The Excess Spread Amount for the related Monthly Period $ 919,706.15 ---------------- h. The average Excess Spread Amount for the three preceding Monthly Periods $ 849,641.10 ----------------
10. Floating interest rate determinations: LIBOR for all Tranches with an Interest Period from May 20, 2005 through and including June 19, 2005 3.09000% ------- LIBOR for the 2005-A1 and the 2005-D1 Tranches with an Interest Period from May 24, 2005 through and including June 19, 2005 3.09000% -------
11. Required interest payments
Required interest Interest shortfalls Amounts withdrawn from amounts with respect to and additional the Collection Account the current Interest interest from prior for payment of required Unpaid required interest Period periods interest amounts amounts ----------------------- -------------------- ----------------------- ------------------------ 2005-A1 $ 592,500.00 $ - $ 592,500.00 $ - -------------- ----------- -------------- ----- Total Class A $ 592,500.00 $ - $ 592,500.00 $ - 2005-B1 $ 298,805.56 $ - $ 298,805.56 $ - -------------- ----------- -------------- ----- Total Class B $ 298,805.56 $ - $ 298,805.56 $ - 2004-C1 $ 356,500.00 $ - $ 356,500.00 $ - -------------- ----------- -------------- ----- Total Class C $ 356,500.00 $ - $ 356,500.00 $ - 2004-D1 $ 69,663.89 $ - $ 69,663.89 $ - 2005-D1 $ 76,350.00 $ - $ 76,350.00 $ - -------------- ----------- -------------- ----- Total Class D $ 146,013.89 $ - $ 146,013.89 $ - -------------- ----------- -------------- ----- Total Advanta Series $ 1,393,819.45 $ - $ 1,393,819.45 $ - ============== =========== ============== =====
12. Principal Funding Account
Beginning Required Principal Actual Deposit Principal Funding Amount Withdrawn Withdrawals Ending Principal Funding Deposit Amount to to the Principal Sub-Account Amount for Payment of Coverage Principal Funding Sub-Account the Principal Funding Funding prior to of Principal to Funding Excess Sub-Account Amount Sub-Account Sub-Account Withdrawals Noteholders Amount Amount - ----------------- --------------------- ---------------- ------------------ ---------------- -------------- -----------------
NOTHING TO REPORT 13. Coverage Funding Required Amounts a. Coverage Funding Amount as of the end of the related Monthly Period $ - --------------- b. The Coverage Funding Amount for the Class A Notes as of the end of the related Monthly Period $ - --------------- c. The Coverage Funding Amount for the Class B Notes as of the end of the related Monthly Period $ - --------------- d. The Coverage Funding Amount for the Class C Notes as of the end of the related Monthly Period $ - --------------- 14. Cash Collateral Account a. The Required Cash Collateral Account Amount on the related Payment Date $ 10,800,000.00 --------------- b. The Available Cash Collateral Account Amount on the related Payment Date $ 10,800,000.00 --------------- c. Has a Portfolio Decline Event occurred with respect to the Monthly Period preceding such Payment Date NO --------------- 15. Spread Account a. The Required Spread Account Amount on the related Payment Date $ - --------------- b. The amount on deposit in the Spread Account on the related Payment Date $ - --------------- 16. Required Subordinated Amounts as of the end of the Monthly Period preceding such Payment Date
Required Excess of Subordinated Required subordination Subordinated Notes over Required percentage Amount Subordinated Notes Subordinated Amount ---------------------- ---------------- ------------------- ---------------------- Class A 21.5805% $ 53,951,250.00 $ 230,000,000.00 $ 176,048,750.00 Class B 8.9918% 31,471,300.00 130,000,000.00 98,528,700.00 Class C 3.6269% 16,321,050.00 30,000,000.00 13,678,950.00
17. Adjusted Invested Amount
Increase from the Initial Principal withdrawal of the Balances and any Coverage Funding Increase from increases from the Excess Amount from reimbursements of Beginning Adjusted issuance of any the Principal Funding Adjusted Invested Invested Amount additional Notes Sub-Account Amount Deficit ------------------ ------------------ --------------------- ----------------- 2005-A1 $ - $250,000,000.00 $ - $ - --------------- --------------- ----- ------ Total Class A $ - $250,000,000.00 $ - $ - 2005-B1 $100,000,000.00 $ - $ - $ - --------------- --------------- ----- ------ Total Class B $100,000,000.00 $ - $ - $ - 2004-C1 $100,000,000.00 $ - $ - $ - --------------- --------------- ----- ------ Total Class C $100,000,000.00 $ - $ - $ - 2004-D1 $ 10,000,000.00 $ - $ - $ - 2005-D1 $ - $ 20,000,000.00 $ - $ - --------------- --------------- ----- ------ Total Class D $ 10,000,000.00 $ 20,000,000.00 $ - $ - --------------- --------------- ----- ------ Total AdvantaSeries $210,000,000.00 $270,000,000.00 $ - $ - =============== =============== ===== ====== Reduction due to Reductions due to amounts deposited reallocation of Available into the Principal Principal Collections and Funding Sub- Ending Adjusted Invested Investor Charge-Offs Account Amount ------------------------- ------------------ ------------------------ 2005-A1 $ - $ - $ 250,000,000.00 ----- ----- ------------------ Total Class A $ - $ - $ 250,000,000.00 2005-B1 $ - $ - $ 100,000,000.00 ----- ----- ------------------ Total Class B $ - $ - $ 100,000,000.00 2004-C1 $ - $ - $ 100,000,000.00 ----- ----- ------------------ Total Class C $ - $ - $ 100,000,000.00 2004-D1 $ - $ - $ 10,000,000.00 2005-D1 $ - $ - $ 20,000,000.00 ----- ----- ------------------ Total Class D $ - $ - $ 30,000,000.00 ----- ----- ------------------ Total AdvantaSeries $ - $ - $ 480,000,000.00 ===== ===== ==================
Advanta Bank Corp. as Servicer By: /s/ MICHAEL COCO ----------------------------------- Name: Michael Coco Title: Vice President and Treasurer -----END PRIVACY-ENHANCED MESSAGE-----