-----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, D3+psfCotcr35XUv7K8g8Ae9NoCIL12hlB31D3tO5A/qt6NttYc0YnPCFA1gHR6R otKWzqsTLSSVlNbpR+wLrw== 0000891804-02-000409.txt : 20020414 0000891804-02-000409.hdr.sgml : 20020414 ACCESSION NUMBER: 0000891804-02-000409 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020220 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020226 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GREATAMERICA LEASING RECEIVABLES 2000-1 LLC CENTRAL INDEX KEY: 0001111780 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE SERVICES [6199] IRS NUMBER: 421502818 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-34842 FILM NUMBER: 02559100 BUSINESS ADDRESS: STREET 1: 625 FIRST STREET SE STREET 2: STE 701 CITY: CEDAR RAPIDS STATE: IA ZIP: 52401 BUSINESS PHONE: 3193658449 MAIL ADDRESS: STREET 1: 625 FIRST STREET SE STREET 2: SUITE 701 CITY: CEDAR RAPIDS STATE: IA ZIP: 52401 8-K 1 ga26186.txt GREATAMERICA LEASING RECEIVABLES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20579 ----------------------------- 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): 02/20/2002 GREATAMERICA LEASING RECEIVABLES 2000-1, L.L.C., (as issuer under the Indenture dated as of June 1, 2000, which issued Receivable-Backed Notes, Series 2000-1) GREATAMERICA LEASING RECEIVABLES 2000-1, L.L.C. --------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 333-34842 42-1502818 ----------------------- ---------------- ---------------------- (State of other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) 625 First Street SE, Suite 701 52401 Cedar Rapids, Iowa ------------- - ------------------------------------------ (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (319) 365-8449 ITEM 5. OTHER EVENTS In accordance with the Transfer and Servicing Agreement dated as of June 1, 2000 among the Registrant, GreatAmerica Leasing Corporation and The Chase Manhattan Bank, N.A., the Registrant has caused to be filed with the Commission, attached hereto as Exhibit 99.1, the Monthly Report dated February 20, 2002. The Monthly Report is filed pursuant to and in accordance with (1) numerous no-action letters (2) current Commission policy in the area. -2- ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS (a) Financial Statements. Not Applicable. (b) Pro Forma Financial Information. Not Applicable. (c) Exhibits. 99.1 Monthly Reports. -3- SIGNATURE 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. GREATAMERICA LEASING RECEIVABLES, 2000-1, L.L.C. Date: February 27, 2002 By: /s/ Stanley M. Herkelman ------------------------- Name: Stanley M. Herkelman Title: Senior Vice President -4- EXHIBIT INDEX EXHIBIT DESCRIPTION 99.1 Monthly Reports -5- EX-99.1 3 tables.txt MONTHLY REPORTS
MONTHLY SERVICER REPORT Page: 1 Issuer: GREATAMERICA LEASING RECEIVABLES 2000-1, L.L.C. Seller and Servicer: GreatAmerica Leasing Corporation Distribution Date: 2/20/2002 Run Date: Thu Feb 14, 2002 PAYMENT SUMMARY - --------------- Class Beginning Pass Through Interest Principal Total Ending Name CUSIP Balance Rate Paid Paid Distribution Balance - ----- --------- ------------- ------------ ---------- ------------ ------------ ------------- A-1 391533AA4 0.00 6.96088000% 0.00 0.00 0.00 0.00 A-2 391533AB2 15,851,816.56 7.36000000% 97,224.47 4,671,584.33 4,768,808.81 11,180,232.23 A-3 391533AC0 23,157,735.76 7.47000000% 144,156.91 0.00 144,156.91 23,157,735.76 A-4 391533AD8 44,023,820.59 7.51000000% 275,515.74 0.00 275,515.74 44,023,820.59 B 391533AE6 5,472,541.05 7.60000000% 34,659.43 307,893.52 342,552.94 5,164,647.54 C 391533AF3 5,721,292.92 7.75000000% 36,950.02 321,888.67 358,838.69 5,399,404.25 D 391533AG1 2,786,020.90 8.14000000% 18,898.51 156,745.79 175,644.30 2,629,275.11 Totals 97,013,227.79 607,405.08 5,458,112.31 6,065,517.39 91,555,115.48
Target (defined) Investor Class Principal Class Percentage Amount - ----- ---------- ------------- AGGSNR 83.4500 78,361,788.58 B 5.5000 5,164,647.54 C 5.7500 5,399,404.25 D 2.8000 2,629,275.11
(Retained) Certificate Balance 2,347,567.06 % of Agg. Collateral Value, beginning 2.3593% % of Agg. Collateral Value, ending 2.5000% Monthly Principal Amount 5,598,063.91 Additional Principal 0.00 Overcollateralization Balance, beginning 2,487,518.66 Overcollateralization Balance, ending 2,347,567.06 Cumulative Loss Amount 0.00
MONTHLY SERVICER REPORT Page: 2 Issuer: GREATAMERICA LEASING RECEIVABLES 2000-1, L.L.C. Seller and Servicer: GreatAmerica Leasing Corporation Distribution Date: 2/20/2002 Run Date: Thu Feb 14, 2002 OTHER INFORMATION - ----------------- AGGREGATE COLLATERAL VALUE (Discount Rate = 8.207%) Initial Aggregate Discounted Contract Balance 241,226,414.17 Aggregate Discounted Contract Balance, beginning 99,500,746.45 Aggregate Discounted Contract Balance, ending 93,902,682.54 Contract Count 20,645 RESIDUAL ACCOUNT Residual Account Balance, beginning 0.00 Residual Account Balance, ending 0.00 SERVICER ADVANCES Cumulative un-reimbursed Servicer Advances, beginning 1,590,273.19 Unreimbursed Servicer Advances collected 696,547.58 Servicer Advances for the current Due Period 782,511.58 Non-recoverable Unreimbursed Servicer Advances 118,558.96 Cumulative un-reimbursed Servicer Advances, ending 1,557,678.23 PAYAHEAD ACCOUNT Advance Payment Balance, beginning 1,602,560.24 Pymts rec'd in prior periods attributable to Current Due Period 1,461,352.06 Pymts attributable to Future Due Periods 1,853,134.13 Advance Payment Balance, ending 1,994,342.31 SUBSTITUTIONS Defaulted Leases and Adj. Contracts Substituted to date, beginning 7,591,388.29 Defaulted Leases and Adj. Contracts Substituted this month 258,589.29 Defaulted Leases and Adj. Contracts Substituted to date, ending 7,849,977.58 % of Agg. Collateral Value at Cut-Off Date (not to exceed 10%) 3.25% Non-Defaulted Leases or Adj. Contracts Substituted to date, beginning 0.00 Non-Defaulted Leases or Adj. Contracts Substituted this month 0.00 Non-Defaulted Leases or Adj. Contracts Substituted to date, ending 0.00 RESERVE FUND Reserve Account Balance, beginning 2,412,264.14 Required Reserve Amount 2,412,264.14 Required Draw to Increase Available Funds 0.00 Reserve Fund Deficiency covered by Excess Available Funds 0.00 Excess Reserve Funds released to Waterfall 0.00 Reserve Account Balance, ending 2,412,264.14
MONTHLY SERVICER REPORT Page: 3 Issuer: GREATAMERICA LEASING RECEIVABLES 2000-1, L.L.C. Seller and Servicer: GreatAmerica Leasing Corporation Distribution Date: 2/20/2002 Run Date: Thu Feb 14, 2002 OTHER INFORMATION (continued) - ----------------------------- AVAILABLE FUNDS (COLLECTION ACCOUNT) Scheduled Payments Received 5,633,150.01 Reinv. from Collection, Payahead, Residual, and Reserve Account 13,014.62 Past due payments received 696,547.58 Past due payments due on Early Termination (from Seller) 0.00 Proceeds from Prepayments not Replaced 675,759.01 Recoveries on Non-Performing Leases not Substituted 0.00 Servicer Advances 782,511.58 Casualty and Termination Payments 0.00 Expired Contract Proceeds 131,815.08 Repurchase of Ineligible Contracts 0.00 Defaulted Contract Recoveries 12,018.04 Net decrease (increase) in Advance Lease Payments Balance -391,782.07 Excess Reserve Funds 0.00 Total Available Funds 7,553,033.85 DISTRIBUTION OF FUNDS Pursuant to Section 7.05(a) of the Sale and Servicing Agreement Available Funds 7,553,033.85 Reserve Fund Draw to Increase Available Funds 0.00 (i) To the Servicer, unreimbursed Servicer Advances 815,106.54 (iii) To the Servicer, Servicing Fee (75 bp) 62,187.97 (v) - (viii) Note Interest Paid 607,405.08 (ix) - (xvi) Note Principal Paid 5,458,112.31 (xvii) Reserve Fund Deposit 0.00 (xx) Remainder to the Issuer 610,221.96
DELINQUENCY AND LOSS INFORMATION Number of Ending Contract Contracts Balance Remain. Percentage --------- --------------- ---------- Current 18,230 98,036,157.77 98.50% 31-60 days 230 849,678.27 0.85 61-90 days 102 458,976.86 0.46 91-120 days 49 181,994.09 0.18
Current Current Current Cumulative Losses Recoveries Net Loss Net Loss Amount - ------------ ------------ ------------ --------------- 269,903.98 43,925.08 225,978.90 5,998,519.51
RESIDUAL EVENT TRIGGERS Average of Current Prior 2nd Prior Last 3 Months Due Period Due Period Due Period ------------- ---------- ---------- ---------- Residual Realization Percentage 144.84% 151.48% 140.71% 142.33% Delinquency Percentage 1.60 1.50 1.63 1.68 Cumulative Net Loss Percentage 2.49 2.39 2.23 Residual Event? No
The undersigned officer of the Servicer hereby certifies that the information contained in this Monthly Servicer Report is true and accurate in all respects; and that no Servicer Default or event that with notice or lapse of time or both would become a Servicer default, has occurred. GreatAmerica Leasing Corporation, as Servicer By:/s/Marcene Tolley ------------------------ Marcene Tolley Controller -----END PRIVACY-ENHANCED MESSAGE-----