EX-99 2 d537568dex99.htm EX-99 EX-99

Exhibit 99

MONTHLY SERVICER’S CERTIFICATE

AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC.

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST

The undersigned, a duly authorized representative of American Express Travel Related Services Company, Inc., as Servicer (“TRS”), pursuant to the Pooling and Servicing Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006 (as amended and restated and as otherwise amended and supplemented, the “Agreement”), as supplemented by the Series Supplements (as amended and supplemented, the “Series Supplements”), among TRS, as Servicer, American Express Receivables Financing Corporation II, American Express Receivables Financing Corporation III LLC and American Express Receivables Financing Corporation IV LLC, as Transferors, and The Bank of New York, as Trustee, does hereby certify as follows:

 

1. Capitalized terms used in this Certificate have their respective meanings as set forth in the Agreement or the Series Supplements, as applicable.

 

2. TRS is, as of the date hereof, the Servicer under the Agreement.

 

3. The undersigned is a Servicing Officer.

 

4. This Certificate relates to the Distribution Date occurring on May 15, 2013 and covers activity from March 26, 2013 through April 24, 2013.

 

5. As of the date hereof, to the best knowledge of the undersigned, the Servicer has performed in all material respects all its obligations under the Agreement through the Monthly Period preceding such Distribution Date.

 

6. As of the date hereof, to the best knowledge of the undersigned, no Pay Out Event occurred on or prior to such Distribution Date.

IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Certificate this 8th day of May 2013.

 

AMERICAN EXPRESS TRAVEL RELATED
SERVICES COMPANY, INC., as Servicer
By:   /s/ Kunal Singhania
Name:   Kunal Singhania
Title:   Vice President
  ABS Operations


A. Trust Activity    Trust Totals  

Record Date

     April 30, 2013   

Number of days in Monthly Period

     30   

Beginning Number of Accounts

     22,578,161   

Beginning Principal Receivable Balance, including any Additions, Removals, or Adjustments of Principal Receivables during the Monthly Period

     29,586,724,566.20   

a. Addition of Principal Receivables

     0.00   

b. Removal of Principal Receivables

     0.00   

c. Adjustments to Principal Receivables

     0.00   

Special Funding Account Balance

     0.00   

Beginning Total Principal Balance

     29,586,724,566.20   

Finance Charge Collections (excluding Recoveries)

     492,235,944.55   

Collections of Discount Option Receivables

     0.00   

Recoveries

     22,035,691.32   

Total Collections of Finance Charge Receivables

     514,271,635.87   

Total Collections of Principal Receivables

     9,668,983,060.02   

Monthly Payment Rate

     32.6801

Defaulted Amount

     75,971,930.26   

Annualized Default Rate

     3.1383

Annualized Default Rate, Net of Recoveries

     2.2280

Trust Portfolio Yield

     18.0238

New Principal Receivables

     9,611,354,519.43   

Ending Number of Accounts

     22,563,311   

Ending Principal Receivables Balance

     29,453,124,095.35   

Ending Required Minimum Principal Balance

     18,220,615,910.00   

Ending Transferor Amount

     12,424,511,095.35   

Ending Special Funding Account Balance

     0.00   

Ending Total Principal Balance

     29,453,124,095.35   

 

2


B. Series Allocations

 

   

Invested

Amount

   

Adjusted

Invested

Amount

    Principal
Funding
Account
Balance
   

Series

Required
Transferor

Amount

    Series
Allocation
Percentage
   

Series

Allocable

Finance Charge
Collections

   

Series

Allocable

Recoveries

   

Series

Allocable

Principal
Collections

   

Series

Allocable
Defaulted
Amount

 

Group 1

                 

2012-2

    1,785,716,000        1,785,716,000.00        0.00        125,000,120.00        10.49     53,929,412.13        2,310,786.35        1,013,943,869.30        7,966,843.30   

2012-5

    714,287,000        714,287,000.00        0.00        50,000,090.00        4.19     21,571,782.97        924,315.32        405,577,888.40        3,186,740.00   

Total

    2,500,003,000.00        2,500,003,000.00        0.00        175,000,210.00        14.68     75,501,195.10        3,235,101.67        1,419,521,757.70        11,153,583.30   

Group 2

                 

2004-2

    400,000,000        400,000,000.00        0.00        28,000,000.00        2.35     12,080,176.72        517,615.65        227,123,208.68        1,784,571.19   

2005-2

    600,000,000        600,000,000.00        0.00        42,000,000.00        3.52     18,120,265.08        776,423.47        340,684,813.03        2,676,856.78   

2007-2

    500,000,000        500,000,000.00        0.00        35,000,000.00        2.94     15,100,220.90        647,019.56        283,904,010.86        2,230,713.98   

2008-2

    1,363,638,000        1,363,638,000.00        0.00        95,454,660.00        8.01     41,182,470.06        1,764,600.91        774,284,595.11        6,083,772.71   

2008-4

    607,956,000        607,956,000.00        0.00        42,556,920.00        3.57     18,360,539.80        786,718.85        345,202,293.65        2,712,351.90   

2008-5

    909,091,000        909,091,000.00        0.00        63,636,370.00        5.34     27,454,949.84        1,176,399.31        516,189,162.27        4,055,844.01   

2008-6

    1,534,091,000        1,534,091,000.00        0.00        107,386,370.00        9.01     46,330,225.96        1,985,173.76        871,069,175.84        6,844,236.49   

2008-7

    596,592,000        596,592,000.00        0.00        41,761,440.00        3.50     18,017,341.98        772,013.38        338,749,723.29        2,661,652.23   

2008-9

    625,000,000        625,000,000.00        0.00        43,750,000.00        3.67     18,875,276.13        808,774.45        354,880,013.57        2,788,392.48   

2009-2

    1,515,155,000        1,515,155,000.00        0.00        106,060,850.00        8.90     45,758,350.40        1,960,669.84        860,317,163.14        6,759,754.89   

2011-1

    1,212,122,000        1,212,122,000.00        0.00        84,848,540.00        7.12     36,606,619.92        1,568,533.28        688,252,594.89        5,407,794.99   

2011-2

    1,212,122,000        1,212,122,000.00        0.00        84,848,540.00        7.12     36,606,619.92        1,568,533.28        688,252,594.89        5,407,794.99   

2012-1

    606,062,000        606,062,000.00        0.00        42,424,340.00        3.56     18,303,340.16        784,267.93        344,126,865.25        2,703,901.96   

2012-3

    1,212,122,000        1,212,122,000.00        0.00        84,848,540.00        7.12     36,606,619.92        1,568,533.28        688,252,594.89        5,407,794.99   

2012-A

    0        0.00        0.00        0.00        0.00     0.00        0.00        0.00        0.00   

2012-4

    1,181,820,000        1,181,820,000.00        0.00        82,727,400.00        6.94     35,691,486.13        1,529,321.31        671,046,876.22        5,272,604.80   

2009-D-II

    452,839,000        452,839,000.00        0.00        31,698,730.00        2.66     13,675,937.87        585,991.38        257,125,616.74        2,020,308.58   

Total

    14,528,610,000.00        14,528,610,000.00        0.00        1,017,002,700.00        85.32     438,770,440.79        18,800,589.64        8,249,461,302.32        64,818,346.97   

Trust

    17,028,613,000.00        17,028,613,000.00        0.00        1,192,002,910.00        100.00     514,271,635.89        22,035,691.31        9,668,983,060.02        75,971,930.27   

 

3


C. Group Allocations (1)

 

     Invested Amount     

Investor

Finance

Charge
Collections

    

Investor

Monthly

Interest

    

Investor

Default

Amount

    

Investor

Monthly

Fees

     Investor
Additional
Amounts
     Total     

Reallocated
Investor

Finance

Charge
Collections

     Investment
Funding
Account
Proceeds
    

Available

Excess

 

Group 1

  

                       

2012-2

     1,785,716,000.00         31,039,025.17         1,054,688.78         4,585,309.57         2,976,193.34         0.00         8,616,191.69         31,082,392.78         0.00         22,466,201.09   

2012-5

     714,287,000.00         12,415,620.50         361,161.21         1,834,125.37         1,190,478.33         0.00         3,385,764.91         12,372,252.89         0.00         8,986,487.98   

Total

     2,500,003,000.00         43,454,645.67         1,415,849.99         6,419,434.94         4,166,671.67         0.00         12,001,956.60         43,454,645.67         0.00         31,452,689.07   

Group 2

  

                    

2004-2

     400,000,000.00         6,952,734.96         142,900.00         1,027,108.36         666,666.67         0.00         1,836,675.03         6,745,544.78         0.00         4,908,869.75   

2005-2

     600,000,000.00         10,429,102.44         173,650.00         1,540,662.54         1,000,000.00         0.00         2,714,312.54         10,077,617.17         0.00         7,363,304.63   

2007-2

     500,000,000.00         8,690,918.70         114,729.17         1,283,885.45         833,333.33         0.00         2,231,947.95         8,368,035.14         0.00         6,136,087.19   

2008-2

     1,363,638,000.00         23,702,534.00         2,089,494.68         3,501,509.97         2,272,730.00         0.00         7,863,734.65         24,598,537.98         0.00         16,734,803.33   

2008-4

     607,956,000.00         10,567,392.35         775,624.64         1,561,091.72         1,013,260.00         0.00         3,349,976.36         10,810,918.41         0.00         7,460,942.05   

2008-5

     909,091,000.00         15,801,671.95         916,818.48         2,334,337.41         1,515,151.66         0.00         4,766,307.55         15,922,830.83         0.00         11,156,523.28   

2008-6

     1,534,091,000.00         26,665,320.33         2,188,892.40         3,939,194.22         2,556,818.33         0.00         8,684,904.95         27,511,537.22         0.00         18,826,632.27   

2008-7

     596,592,000.00         10,369,865.15         851,114.48         1,531,911.57         994,320.00         0.00         3,377,346.05         10,698,827.11         0.00         7,321,481.06   

2008-9

     625,000,000.00         10,863,648.38         1,062,994.79         1,604,856.81         1,041,666.67         0.00         3,709,518.27         11,379,627.26         0.00         7,670,108.99   

2009-2

     1,515,155,000.00         26,336,177.86         2,024,318.38         3,890,570.91         2,525,258.33         0.00         8,440,147.62         27,034,393.99         0.00         18,594,246.37   

2011-1

     1,212,122,000.00         21,068,907.53         443,700.90         3,112,451.60         2,020,203.34         0.00         5,576,355.84         20,451,728.39         0.00         14,875,372.55   

2011-2

     1,212,122,000.00         21,068,907.53         405,569.52         3,112,451.60         2,020,203.34         0.00         5,538,224.46         20,413,597.01         0.00         14,875,372.55   

2012-1

     606,062,000.00         10,534,471.14         269,831.18         1,556,228.37         1,010,103.33         0.00         2,836,162.88         10,273,861.43         0.00         7,437,698.55   

2012-3

     1,212,122,000.00         21,068,907.53         395,216.32         3,112,451.60         2,020,203.34         0.00         5,527,871.26         20,403,243.81         0.00         14,875,372.55   

2012-4

     1,181,820,000.00         20,542,203.09         464,618.29         3,034,643.00         1,969,700.00         0.00         5,468,961.29         19,972,462.42         0.00         14,503,501.13   

2012-A

     0.00         0.00         0.00         0.00         0.00         0.00         0.00         0.00         0.00         0.00   

Total

     14,075,771,000.00         244,662,762.94         12,319,473.23         36,143,355.13         23,459,618.34         0.00         71,922,446.70         244,662,762.95         0.00         172,740,316.25   

Trust Total

     16,575,774,000.00         288,117,408.61         13,735,323.22         42,562,790.07         27,626,290.01         0.00         83,924,403.30         288,117,408.62         0.00         204,193,005.32   
     Group Investor Finance             Group Reallocable Investor                                     
     Charge Collections      Group Expenses      Finance Charge Collections                                     

Group 1

     43,454,645.67         12,001,956.60            31,452,689.07                  

Group 2

     244,662,762.94         71,922,446.70            172,740,316.24                  

 

(1) Series 2009-D-II does not share in group allocations with other series. Therefore, certain figures set forth in section “B. Series Allocations” above, which include Series 2009-D-II, will not equal the corresponding figures set forth in this section “C. Group Allocations.”

 

4


D. Trust Performance

Delinquencies:

 

31-60 Days Delinquent

     96,216,819   

61-90 Days Delinquent

     81,057,766   

90+ Days Delinquent

     195,567,029   

Total 30+ Days Delinquent

     372,841,613   

E. Repurchases and Replacements

Information required by Rule 15Ga-1(a) concerning the Trust:

No activity to report for reporting period.

Most recent Form ABS-15G:

Form ABS-15G filed on February 08, 2013 under CIK number 0000949349

 

5


Series 2004-2 Certificates

 

A. Investor/Transferor Allocations

   Series
Allocations
     Total Investor
Interest
    Transferors’ Interest  

Beginning Invested Amount/Transferor Amount

     694,988,477.72         400,000,000.00        294,988,477.72   

Beginning Adjusted Invested Amount

     N/A         400,000,000.00        N/A   

Floating Allocation Percentage

     N/A         57.5549     42.4451

Principal Allocation Percentage

     N/A         57.5549     42.4451

Collections of Finance Charge Receivables

     12,080,176.72         6,952,734.96        5,127,441.76   

Collections of Principal Receivables

     227,123,208.68         130,720,560.68        96,402,648.00   

Defaulted Amount

     1,784,571.19         1,027,108.36        757,462.83   

Ending Invested Amount / Transferor Amount

     691,850,219.28         400,000,000.00        291,850,219.28   

 

B. Monthly Period Funding Requirements

   Class A     Class B     Collateral Interest     Total  

Principal Funding Account Balance

     0.00        0.00        0.00        0.00   

Investment Proceeds for Monthly Period

     0.00        0.00        0.00        0.00   

Reserve Account Opening Balance

     0.00        0.00        0.00        0.00   

Reserve Account Investment Proceeds retained per Section 4.12(b)

     0.00        0.00        0.00        0.00   

Reserve Account Deposit

     0.00        0.00        0.00        0.00   

Reserve Draw Amount

     0.00        0.00        0.00        0.00   

Reserve Account Surplus (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Reserve Account Closing Balance (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Required Reserve Account Amount

     0.00        0.00        0.00        0.00   

LIBOR Determination Date

     April 11, 2013        April 11, 2013        April 11, 2013     

Coupon April 15, 2013 to May 14, 2013

     0.36870     0.56870     0.86870  

Monthly Interest Due

     102,621.50        14,217.50        26,061.00        142,900.00   

Outstanding Monthly Interest Due

     0.00        0.00        0.00        0.00   

Additional Interest Due

     0.00        0.00        0.00        0.00   

Total Interest Due

     102,621.50        14,217.50        26,061.00        142,900.00   

Investor Default Amount

     857,635.48        77,033.13        92,439.75        1,027,108.36   

Investor Monthly Fees Due

     556,666.67        50,000.00        60,000.00        666,666.67   

Investor Additional Amounts Due

     0.00        0.00        0.00        0.00   

Total Due

     1,516,923.65        141,250.63        178,500.75        1,836,675.03   

Reallocated Investor Finance Charge Collections

           6,745,544.78   

Interest and Principal Funding Investment Proceeds

           0.00   

Interest on Reserve Account

           0.00   

Series Adjusted Portfolio Yield

           17.3936

Base Rate

           2.4624

Excess Spread Percentage

           14.7266

C. Certificates - Balances and Distributions

   Class A     Class B     Collateral Interest     Total  

Beginning Certificates Balance

     334,000,000.00        30,000,000.00        36,000,000.00        400,000,000.00   

Distributions of Interest

     102,621.50        14,217.50        26,061.00        142,900.00   

Deposits to the Principal Funding Account

     0.00        0.00        0.00        0.00   

Distributions of Principal

     0.00        0.00        0.00        0.00   

Total Distributions

     102,621.50        14,217.50        26,061.00        142,900.00   

Ending Certificates Balance

     334,000,000.00        30,000,000.00        36,000,000.00        400,000,000.00   

 

6


D)     Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.

  

(1)     The total amount of the distribution:

   $ 0.31   

(2)     The amount of the distribution in respect of Class A Monthly Interest:

   $ 0.31   

(3)     The amount of the distribution in respect of Class A Outstanding Monthly Interest:

   $ 0.00   

(4)     The amount of the distribution in respect of Class A Additional Interest:

   $ 0.00   

(5)     The amount of the distribution in respect of principal of the Class A Certificates:

   $ 0.00   

E)      Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.

  

(1)     The total amount of Class A Investor Charge-Offs:

   $ 0.00   

(2)     The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of Class A Investor Charge-Offs:

   $ 0.00   

(4)     The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

F)      Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.

  

(1)     The total amount of the distribution in respect of Class B Certificates:

   $ 0.47   

(2)     The amount of the distribution in respect of Class B Monthly Interest:

   $ 0.47   

(3)     The amount of the distribution in respect of Class B Outstanding Monthly Interest:

   $ 0.00   

(4)     The amount of the distribution in respect of Class B Additional Interest:

   $ 0.00   

(5)     The amount of the distribution in respect of principal of the Class B Certificates:

   $ 0.00   

 

7


G)     Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.

  

(1)     The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:

   $ 0.00   

(2)     The amount of the reductions in the Class B Invested Amount per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of such reductions in the Class B Invested Amount:

   $ 0.00   

(4)     The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

H)     Information regarding distributions on the Distribution Date to the Collateral Interest Holder.

  

(1)     The total amount distributed to the Collateral Interest Holder:

   $ 4,934,930.75   

(2)     The amount of the distribution in respect of Collateral Minimum Monthly Interest:

   $ 26,061.00   

(3)     The amount of the distribution in respect of Collateral Additional Interest:

   $ 0.00   

(4)     The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:

   $ 0.00   

(5)     The amount of the distribution to the Collateral Interest Holder in respect of remaining Excess Spread:

   $ 4,908,869.75   

I)       Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.

  

(1)     The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:

   $ 0.00   

(2)     The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:

   $ 0.00   

 

8


J.       Application of Reallocated Investor Finance Charge Collections

  

1.       Class A Available Funds

   $ 5,632,529.89   

a.       Class A Monthly Interest

   $ 102,621.50   

b.       Class A Outstanding Monthly Interest

   $ 0.00   

c.       Class A Additional Interest

   $ 0.00   

d.       Class A Investor Default Amount (treated as Available Principal Collections)

   $ 857,635.48   

e.       Excess Spread

   $ 4,672,272.91   

2.       Class B Available Funds

   $ 505,915.86   

a.       Class B Monthly Interest

   $ 14,217.50   

b.       Class B Outstanding Monthly Interest

   $ 0.00   

c.       Class B Additional Interest

   $ 0.00   

d.       Excess Spread

   $ 491,698.36   

3.       Collateral Available Funds

   $ 607,099.03   

a.       Excess Spread

   $ 607,099.03   

4.       Total Excess Spread

   $ 5,771,070.30   

K.      Reallocated Principal Collections

  

1.       Principal Allocation Percentage

     57.5549

2.       Series 2004-2 Allocable Principal Collections

   $ 227,123,208.68   

3.       Principal Allocation Percentage of Series 2004-2 Allocable Principal Collections

   $ 130,720,560.68   

4.       Reallocated Principal Collections Required to fund the Required Amount

   $ 0.00   

5.       Item 3 minus Item 4

   $ 130,720,560.68   

6.       Shared Principal Collections from other Series allocated to Series 2004-2

   $ 0.00   

7.       Other amounts treated as Available Principal Collections:

   $ 1,027,108.36   

8.       Available Principal Collections (total of items 5, 6 and 7)

   $ 131,747,669.04   

L.      Application of Available Principal Collections during Revolving Period

  

1.       Collateral Invested Amount

   $ 36,000,000.00   

2.       Required Collateral Invested Amount

   $ 36,000,000.00   

3.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

4.       Treated as Shared Principal Collections

   $ 131,747,669.04   

 

9


M.     Application of Principal Collections During Accumulation or Amortization Period

  

1.       Principal Funding Account

   $ 0.00  

2.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00  

3.       Distribution of Principal

   $ 0.00  

4.       Treated as Shared Principal Collections

   $ 0.00  

N.1.  Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2004-2

  

1.       Excess Spread

   $ 5,771,070.30  

2.       Excess Finance Charge Collections

   $ 0.00  

3.       Applied to fund Class A Required Amount

   $ 0.00  

4.       Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00  

5.       Applied to fund overdue Class B Interest

   $ 0.00  

6.       Applied to fund Class B Required Amount

   $ 77,033.13  

7.       Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00  

8.       Applied to Collateral Minimum Monthly Interest

   $ 26,061.00  

9.       Applied to unpaid Monthly Servicing Fee

   $ 666,666.67  

10.     Collateral Default Amount treated as Available Principal Collections

   $ 92,439.75  

11.     Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00  

12.     Deposited to Reserve Account

   $ 0.00  

13.     Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 4,908,869.75  

N.2.  Application of Excess Spread, Excess Finance Charge Collections and Funds from Series 2009-D-II Allocated to Series 2004-2

  

1.       Excess Spread

   $ 5,771,070.30   

2.       Excess Finance Charge Collections

   $ 0.00   

3.       Funds from Series 2009-D-II

   $ 0.00   

4.       Applied to fund Class A Required Amount

   $ 0.00   

5.       Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

6.       Applied to fund overdue Class B Interest

   $ 0.00   

7.       Applied to fund Class B Required Amount

   $ 77,033.13   

8.       Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

9.       Applied to Collateral Minimum Monthly Interest

   $ 26,061.00   

10.     Applied to unpaid Monthly Servicing Fee

   $ 666,666.67   

11.     Collateral Default Amount treated as Available Principal Collections

   $ 92,439.75   

12.     Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

13.     Deposited to Reserve Account

   $ 0.00   

14.     Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 4,908,869.75   

 

10


O.     Yield and Base Rate

  

1.      Base Rate

  

a.      Current Monthly Period

     2.4624

b.      Prior Monthly Period

     2.4016

c.      Second Prior Monthly Period

     2.6098

2.      Three Month Average Base Rate

     2.4913

3.      Series Adjusted Portfolio Yield

  

a.      Current Monthly Period

     17.3936

b.      Prior Monthly Period

     15.9265

c.      Second Prior Monthly Period

     17.9406

4.      Three Month average Series Adjusted Portfolio Yield

     17.0869

5.      Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?

     Yes   

 

11


Series 2005-2 Certificates

 

A. Investor/Transferor Allocations

   Series
Allocations
     Total Investor
Interest
    Transferors’ Interest  

Beginning Invested Amount/Transferor Amount

     1,042,482,716.57         600,000,000.00        442,482,716.57   

Beginning Adjusted Invested Amount

     N/A         600,000,000.00        N/A   

Floating Allocation Percentage

     N/A         57.5549     42.4451

Principal Allocation Percentage

     N/A         57.5549     42.4451

Collections of Finance Charge Receivables

     18,120,265.08         10,429,102.44        7,691,162.64   

Collections of Principal Receivables

     340,684,813.03         196,080,841.02        144,603,972.01   

Defaulted Amount

     2,676,856.78         1,540,662.54        1,136,194.24   

Ending Invested Amount / Transferor Amount

     1,037,775,328.92         600,000,000.00        437,775,328.92   

 

B. Monthly Period Funding Requirements

   Class A     Class B     Collateral Interest     Total  

Principal Funding Account Balance

     0.00        0.00        0.00        0.00   

Investment Proceeds for Monthly Period

     0.00        0.00        0.00        0.00   

Reserve Account Opening Balance

     0.00        0.00        0.00        0.00   

Reserve Account Investment Proceeds retained per Section 4.12(b)

     0.00        0.00        0.00        0.00   

Reserve Account Deposit

     0.00        0.00        0.00        0.00   

Reserve Draw Amount

     0.00        0.00        0.00        0.00   

Reserve Account Surplus (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Reserve Account Closing Balance (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Required Reserve Account Amount

     0.00        0.00        0.00        0.00   

LIBOR Determination Date

     April 11, 2013        April 11, 2013        April 11, 2013     

Coupon April 15, 2013 to May 14, 2013

     0.29870     0.47870     0.68870  

Monthly Interest Due

     124,707.25        17,951.25        30,991.50        173,650.00   

Outstanding Monthly Interest Due

     0.00        0.00        0.00        0.00   

Additional Interest Due

     0.00        0.00        0.00        0.00   

Total Interest Due

     124,707.25        17,951.25        30,991.50        173,650.00   

Investor Default Amount

     1,286,453.22        115,549.69        138,659.63        1,540,662.54   

Investor Monthly Fees Due

     835,000.00        75,000.00        90,000.00        1,000,000.00   

Investor Additional Amounts Due

     0.00        0.00        0.00        0.00   

Total Due

     2,246,160.47        208,500.94        259,651.13        2,714,312.54   

Reallocated Investor Finance Charge Collections

           10,077,617.17   

Interest and Principal Funding Investment Proceeds

           0.00   

Interest on Reserve Account

           0.00   

Series Adjusted Portfolio Yield

           17.3110

Base Rate

           2.3799

Excess Spread Percentage

           14.7266

C. Certificates - Balances and Distributions

   Class A     Class B     Collateral Interest     Total  

Beginning Certificates Balance

     501,000,000.00        45,000,000.00        54,000,000.00        600,000,000.00   

Distributions of Interest

     124,707.25        17,951.25        30,991.50        173,650.00   

Deposits to the Principal Funding Account

     0.00        0.00        0.00        0.00   

Distributions of Principal

     0.00        0.00        0.00        0.00   

Total Distributions

     124,707.25        17,951.25        30,991.50        173,650.00   

Ending Certificates Balance

     501,000,000.00        45,000,000.00        54,000,000.00        600,000,000.00   

`

 

12


D)     Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.

(1)     The total amount of the distribution:

   $0.25  

(2)     The amount of the distribution in respect of Class A Monthly Interest:

   $0.25  

(3)     The amount of the distribution in respect of Class A Outstanding Monthly Interest:

   $0.00  

(4)     The amount of the distribution in respect of Class A Additional Interest:

   $0.00  

(5)     The amount of the distribution in respect of principal of the Class A Certificates:

   $0.00  

E)      Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.

  

(1)     The total amount of Class A Investor Charge-Offs:

   $0.00  

(2)     The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:

   $0.00  

(3)     The total amount reimbursed in respect of Class A Investor Charge-Offs:

   $0.00  

(4)     The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $0.00  

(5)     The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:

   $0.00  

F)      Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.

  

(1)     The total amount of the distribution in respect of Class B Certificates:

   $0.40  

(2)     The amount of the distribution in respect of Class B Monthly Interest:

   $0.40  

(3)     The amount of the distribution in respect of Class B Outstanding Monthly Interest:

   $0.00  

(4)     The amount of the distribution in respect of Class B Additional Interest:

   $0.00  

(5)     The amount of the distribution in respect of principal of the Class B Certificates:

   $0.00  

 

13


G)      Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.

  

(1)     The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:

   $ 0.00   

(2)     The amount of the reductions in the Class B Invested Amount per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of such reductions in the Class B Invested Amount:

   $ 0.00   

(4)     The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

H)     Information regarding distributions on the Distribution Date to the Collateral Interest Holder.

  

(1)     The total amount distributed to the Collateral Interest Holder:

   $ 7,394,296.14   

(2)     The amount of the distribution in respect of Collateral Minimum Monthly Interest:

   $ 30,991.50   

(3)     The amount of the distribution in respect of Collateral Additional Interest:

   $ 0.00   

(4)     The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:

   $ 0.00   

(5)     The amount of the distribution to the Collateral Interest Holder in respect of remaining Excess Spread:

   $ 7,363,304.64   

I)       Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.

  

(1)     The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:

   $ 0.00   

(2)     The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:

   $ 0.00   

 

14


J.       Application of Reallocated Investor Finance Charge Collections

         

1.       Class A Available Funds

   $ 8,414,810.34   

a.       Class A Monthly Interest

   $ 124,707.25   

b.       Class A Outstanding Monthly Interest

   $ 0.00   

c.       Class A Additional Interest

   $ 0.00   

d.       Class A Investor Default Amount (treated as Available Principal Collections)

   $ 1,286,453.22   

e.       Excess Spread

   $ 7,003,649.87   

2.       Class B Available Funds

   $ 755,821.29   

a.       Class B Monthly Interest

   $ 17,951.25   

b.       Class B Outstanding Monthly Interest

   $ 0.00   

c.       Class B Additional Interest

   $ 0.00   

d.       Excess Spread

   $ 737,870.04   

3.       Collateral Available Funds

   $ 906,985.55   

a.       Excess Spread

   $ 906,985.55   

4.       Total Excess Spread

   $ 8,648,505.46   

K.      Reallocated Principal Collections

  

1.       Principal Allocation Percentage

     57.5549

2.       Series 2005-2 Allocable Principal Collections

   $ 340,684,813.03   

3.       Principal Allocation Percentage of Series 2005-2 Allocable Principal Collections

   $ 196,080,841.02   

4.       Reallocated Principal Collections Required to fund the Required Amount

   $ 0.00   

5.       Item 3 minus Item 4

   $ 196,080,841.02   

6.       Shared Principal Collections from other Series allocated to Series 2005-2

   $ 0.00   

7.       Other amounts treated as Available Principal Collections:

   $ 1,540,662.54   

8.       Available Principal Collections (total of items 5, 6 and 7)

   $ 197,621,503.56   

L.      Application of Available Principal Collections during Revolving Period

        

1.       Collateral Invested Amount

   $ 54,000,000.00   

2.       Required Collateral Invested Amount

   $ 54,000,000.00   

3.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

4.       Treated as Shared Principal Collections

   $ 197,621,503.56   

 

15


M.         Application of Principal Collections During Accumulation or Amortization Period   
   1.    Principal Funding Account    $ 0.00   
   2.    Excess of Collateral Invested Amount over Required Collateral Invested Amount    $ 0.00   
   3.    Distribution of Principal    $ 0.00   
   4.    Treated as Shared Principal Collections    $ 0.00   
N.1.     Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2005-2   
   1.    Excess Spread    $ 8,648,505.46   
   2.    Excess Finance Charge Collections    $ 0.00   
   3.    Applied to fund Class A Required Amount    $ 0.00   
   4.    Class A Investor Charge-Offs treated as Available Principal Collections    $ 0.00   
   5.    Applied to fund overdue Class B Interest    $ 0.00   
   6.    Applied to fund Class B Required Amount    $ 115,549.69   
   7.    Reduction of Class B Invested Amount treated as Available Principal Collections    $ 0.00   
   8.    Applied to Collateral Minimum Monthly Interest    $ 30,991.50   
   9.    Applied to unpaid Monthly Servicing Fee    $ 1,000,000.00   
   10.    Collateral Default Amount treated as Available Principal Collections    $ 138,659.63   
   11.    Reduction of Collateral Invested Amount treated as Available Principal Collections    $ 0.00   
   12.    Deposited to Reserve Account    $ 0.00   
   13.    Remaining Excess Spread distributed to Collateral Interest Holder(s)    $ 7,363,304.64   
N.2.     Application of Excess Spread, Excess Finance Charge Collections and Funds from Series 2009-D-II Allocated to Series 2005-2   
   1.    Excess Spread    $ 8,648,505.46   
   2.    Excess Finance Charge Collections    $ 0.00   
   3.    Funds from Series 2009-D-II    $ 0.00   
   4.    Applied to fund Class A Required Amount    $ 0.00   
   5.    Class A Investor Charge-Offs treated as Available Principal Collections    $ 0.00   
   6.    Applied to fund overdue Class B Interest    $ 0.00   
   7.    Applied to fund Class B Required Amount    $ 115,549.69   
   8.    Reduction of Class B Invested Amount treated as Available Principal Collections    $ 0.00   
   9.    Applied to Collateral Minimum Monthly Interest    $ 30,991.50   
   10.    Applied to unpaid Monthly Servicing Fee    $ 1,000,000.00   
   11.    Collateral Default Amount treated as Available Principal Collections    $ 138,659.63   
   12.    Reduction of Collateral Invested Amount treated as Available Principal Collections    $ 0.00   
   13.    Deposited to Reserve Account    $ 0.00   
   14.    Remaining Excess Spread distributed to Collateral Interest Holder(s)    $ 7,363,304.64   

 

16


O.           Yield and Base Rate   
     1.       Base Rate   
     

a.      Current Monthly Period

     2.3799
     

b.      Prior Monthly Period

     2.3191
     

c.      Second Prior Monthly Period

     2.5273
     2.       Three Month Average Base Rate      2.4087
     3.       Series Adjusted Portfolio Yield   
     

a.      Current Monthly Period

     17.3110
     

b.      Prior Monthly Period

     15.8440
     

c.      Second Prior Monthly Period

     17.8580
     4.       Three Month average Series Adjusted Portfolio Yield      17.0043
     5.       Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?      Yes   

 

17


Series 2007-2 Certificates

 

A. Investor/Transferor Allocations

   Series
Allocations
     Total Investor
Interest
    Transferors’ Interest  

Beginning Invested Amount/Transferor Amount

     868,735,597.14         500,000,000.00        368,735,597.14   

Beginning Adjusted Invested Amount

     N/A         500,000,000.00        N/A   

Floating Allocation Percentage

     N/A         57.5549     42.4451

Principal Allocation Percentage

     N/A         57.5549     42.4451

Collections of Finance Charge Receivables

     15,100,220.90         8,690,918.70        6,409,302.20   

Collections of Principal Receivables

     283,904,010.86         163,400,700.85        120,503,310.01   

Defaulted Amount

     2,230,713.98         1,283,885.45        946,828.53   

Ending Invested Amount / Transferor Amount

     864,812,774.10         500,000,000.00        364,812,774.10   

 

B. Monthly Period Funding Requirements

   Class A     Class B     Collateral Interest     Total  

Principal Funding Account Balance

     0.00        0.00        0.00        0.00   

Investment Proceeds for Monthly Period

     0.00        0.00        0.00        0.00   

Reserve Account Opening Balance

     0.00        0.00        0.00        0.00   

Reserve Account Investment Proceeds retained per Section 4.12(b)

     0.00        0.00        0.00        0.00   

Reserve Account Deposit

     0.00        0.00        0.00        0.00   

Reserve Draw Amount

     0.00        0.00        0.00        0.00   

Reserve Account Surplus (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Reserve Account Closing Balance (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Required Reserve Account Amount

     0.00        0.00        0.00        0.00   

LIBOR Determination Date

     April 11, 2013        April 11, 2013        April 11, 2013     

Coupon April 15, 2013 to May 14, 2013

     0.24870     0.37870     0.54870  

Monthly Interest Due

     91,190.00        8,678.54        14,860.63        114,729.17   

Outstanding Monthly Interest Due

     0.00        0.00        0.00        0.00   

Additional Interest Due

     0.00        0.00        0.00        0.00   

Total Interest Due

     91,190.00        8,678.54        14,860.63        114,729.17   

Investor Default Amount

     1,129,819.20        70,613.70        83,452.55        1,283,885.45   

Investor Monthly Fees Due

     733,333.33        45,833.33        54,166.67        833,333.33   

Investor Additional Amounts Due

     0.00        0.00        0.00        0.00   

Total Due

     1,954,342.53        125,125.57        152,479.85        2,231,947.95   

Reallocated Investor Finance Charge Collections

           8,368,035.14   

Interest and Principal Funding Investment Proceeds

           0.00   

Interest on Reserve Account

           0.00   

Series Adjusted Portfolio Yield

           17.2381

Base Rate

           2.3070

Excess Spread Percentage

           14.7266

 

C. Certificates - Balances and Distributions

   Class A      Class B      Collateral Interest      Total  

Beginning Certificates Balance

     440,000,000.00         27,500,000.00         32,500,000.00         500,000,000.00   

Distributions of Interest

     91,190.00         8,678.54         14,860.63         114,729.17   

Deposits to the Principal Funding Account

     0.00         0.00         0.00         0.00   

Distributions of Principal

     0.00         0.00         0.00         0.00   

Total Distributions

     91,190.00         8,678.54         14,860.63         114,729.17   

Ending Certificates Balance

     440,000,000.00         27,500,000.00         32,500,000.00         500,000,000.00   

 

18


D)     Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.

  

(1)    The total amount of the distribution:

   $ 0.21   

(2)    The amount of the distribution in respect of Class A Monthly Interest:

   $ 0.21   

(3)    The amount of the distribution in respect of Class A Outstanding Monthly Interest:

   $ 0.00   

(4)    The amount of the distribution in respect of Class A Additional Interest:

   $ 0.00   

(5)    The amount of the distribution in respect of principal of the Class A Certificates:

   $ 0.00   

E)      Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.

  

(1)    The total amount of Class A Investor Charge-Offs:

   $ 0.00   

(2)    The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:

   $ 0.00   

(3)    The total amount reimbursed in respect of Class A Investor Charge-Offs:

   $ 0.00   

(4)    The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $ 0.00   

(5)    The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

F)      Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.

  

(1)    The total amount of the distribution in respect of Class B Certificates:

   $ 0.32   

(2)    The amount of the distribution in respect of Class B Monthly Interest:

   $ 0.32   

(3)    The amount of the distribution in respect of Class B Outstanding Monthly Interest:

   $ 0.00   

(4)    The amount of the distribution in respect of Class B Additional Interest:

   $ 0.00   

(5)    The amount of the distribution in respect of principal of the Class B Certificates:

   $ 0.00   

 

19


G)     Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.

  

(1)    The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:

   $ 0.00   

(2)    The amount of the reductions in the Class B Invested Amount per $1,000 original certificate principal amount:

   $ 0.00   

(3)    The total amount reimbursed in respect of such reductions in the Class B Invested Amount:

   $ 0.00   

(4)    The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:

   $ 0.00   

(5)    The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

H)     Information regarding distributions on the Distribution Date to the Collateral Interest Holder.

  

(1)    The total amount distributed to the Collateral Interest Holder:

   $ 6,150,947.81   

(2)    The amount of the distribution in respect of Collateral Minimum Monthly Interest:

   $ 14,860.63   

(3)    The amount of the distribution in respect of Collateral Additional Interest:

   $ 0.00   

(4)    The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:

   $ 0.00   

(5)    The amount of the distribution to the Collateral Interest Holder in respect of remaining Excess Spread:

   $ 6,136,087.18   

I)       Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.

  

(1)    The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:

   $ 0.00   

(2)    The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:

   $ 0.00   

 

20


J.       Application of Reallocated Investor Finance Charge Collections

  

1.      Class A Available Funds

   $ 7,363,870.92   

a.      Class A Monthly Interest

   $ 91,190.00   

b.      Class A Outstanding Monthly Interest

   $ 0.00   

c.      Class A Additional Interest

   $ 0.00   

d.      Class A Investor Default Amount (treated as Available Principal Collections)

   $ 1,129,819.20   

e.      Excess Spread

   $ 6,142,861.72   

2.      Class B Available Funds

   $ 460,241.93   

a.      Class B Monthly Interest

   $ 8,678.54   

b.      Class B Outstanding Monthly Interest

   $ 0.00   

c.      Class B Additional Interest

   $ 0.00   

d.      Excess Spread

   $ 451,563.39   

3.      Collateral Available Funds

   $ 543,922.28   

a.      Excess Spread

   $ 543,922.28   

4.      Total Excess Spread

   $ 7,138,347.39   

K.      Reallocated Principal Collections

  

1.      Principal Allocation Percentage

     57.5549

2.      Series 2007-2 Allocable Principal Collections

   $ 283,904,010.86   

3.      Principal Allocation Percentage of Series 2007-2 Allocable Principal Collections

   $ 163,400,700.85   

4.      Reallocated Principal Collections Required to fund the Required Amount

   $ 0.00   

5.      Item 3 minus Item 4

   $ 163,400,700.85   

6.      Shared Principal Collections from other Series allocated to Series 2007-2

   $ 0.00   

7.      Other amounts treated as Available Principal Collections:

   $ 1,283,885.45   

8.      Available Principal Collections (total of items 5, 6 and 7)

   $ 164,684,586.30   

L.      Application of Available Principal Collections during Revolving Period

  

1.      Collateral Invested Amount

   $ 32,500,000.00   

2.      Required Collateral Invested Amount

   $ 32,500,000.00   

3.      Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

4.      Treated as Shared Principal Collections

   $ 164,684,586.30   

 

21


M.     Application of Principal Collections During Accumulation or Amortization Period

  

1.       Principal Funding Account

   $ 0.00   

2.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

3.       Distribution of Principal

   $ 0.00   

4.       Treated as Shared Principal Collections

   $ 0.00   

N.1.   Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2007-2

  

1.       Excess Spread

   $ 7,138,347.39   

2.       Excess Finance Charge Collections

   $ 0.00   

3.       Applied to fund Class A Required Amount

   $ 0.00   

4.       Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

5.       Applied to fund overdue Class B Interest

   $ 0.00   

6.       Applied to fund Class B Required Amount

   $ 70,613.70   

7.       Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

8.       Applied to Collateral Minimum Monthly Interest

   $ 14,860.63   

9.       Applied to unpaid Monthly Servicing Fee

   $ 833,333.33   

10.     Collateral Default Amount treated as Available Principal Collections

   $ 83,452.55   

11.     Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

12.     Deposited to Reserve Account

   $ 0.00   

13.     Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 6,136,087.18   

N.2.   Application of Excess Spread, Excess Finance Charge Collections and Funds from Series 2009-D-II Allocated to Series 2007-2

  

1.       Excess Spread

   $ 7,138,347.39   

2.       Excess Finance Charge Collections

   $ 0.00   

3.       Funds from Series 2009-D-II

   $ 0.00   

4.       Applied to fund Class A Required Amount

   $ 0.00   

5.       Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

6.       Applied to fund overdue Class B Interest

   $ 0.00   

7.       Applied to fund Class B Required Amount

   $ 70,613.70   

8.       Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

9.       Applied to Collateral Minimum Monthly Interest

   $ 14,860.63   

10.     Applied to unpaid Monthly Servicing Fee

   $ 833,333.33   

11.     Collateral Default Amount treated as Available Principal Collections

   $ 83,452.55   

12.     Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

13.     Deposited to Reserve Account

   $ 0.00   

14.     Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 6,136,087.18   

 

22


O.      Yield and Base Rate

  

1.       Base Rate

  

a.       Current Monthly Period

     2.3070

b.       Prior Monthly Period

     2.2461

c.       Second Prior Monthly Period

     2.4543

2.       Three Month Average Base Rate

     2.3358

3.       Series Adjusted Portfolio Yield

  

a.       Current Monthly Period

     17.2381

b.       Prior Monthly Period

     15.7710

c.       Second Prior Monthly Period

     17.7851

4.       Three Month average Series Adjusted Portfolio Yield

     16.9314

5.       Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?

     Yes   

 

23


Series 2008-2 Certificates

 

A. Investor/Transferor Allocations

   Series
Allocations
     Total Investor
Interest
    Transferors’ Interest  

Beginning Invested Amount/Transferor Amount

     2,369,281,744.44         1,363,638,000.00        1,005,643,744.44   

Beginning Adjusted Invested Amount

     N/A         1,363,638,000.00        N/A   

Floating Allocation Percentage

     N/A         57.5549     42.4451

Principal Allocation Percentage

     N/A         57.5549     42.4451

Collections of Finance Charge Receivables

     41,182,470.06         23,702,534.00        17,479,936.06   

Collections of Principal Receivables

     774,284,595.11         445,638,809.81        328,645,785.30   

Defaulted Amount

     6,083,772.71         3,501,509.97        2,582,262.74   

Ending Invested Amount / Transferor Amount

     2,358,583,123.31         1,363,638,000.00        994,945,123.31   

 

B. Monthly Period Funding Requirements

   Class A     Class B     Collateral Interest     Total  

Principal Funding Account Balance

     0.00        0.00        0.00        0.00   

Investment Proceeds for Monthly Period

     0.00        0.00        0.00        0.00   

Reserve Account Opening Balance

     0.00        0.00        0.00        0.00   

Reserve Account Investment Proceeds retained per Section 4.12(b)

     0.00        0.00        0.00        0.00   

Reserve Account Deposit

     0.00        0.00        0.00        0.00   

Reserve Draw Amount

     0.00        0.00        0.00        0.00   

Reserve Account Surplus (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Reserve Account Closing Balance (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Required Reserve Account Amount

     0.00        0.00        0.00        0.00   

LIBOR Determination Date

     April 11, 2013        April 11, 2013        April 11, 2013     

Coupon April 15, 2013 to May 14, 2013

     1.45870     3.94870     5.19870  

Monthly Interest Due

     1,458,700.00        246,797.04        383,997.64        2,089,494.68   

Outstanding Monthly Interest Due

     0.00        0.00        0.00        0.00   

Additional Interest Due

     0.00        0.00        0.00        0.00   

Total Interest Due

     1,458,700.00        246,797.04        383,997.64        2,089,494.68   

Investor Default Amount

     3,081,325.07        192,585.39        227,599.51        3,501,509.97   

Investor Monthly Fees Due

     2,000,000.00        125,001.67        147,728.33        2,272,730.00   

Investor Additional Amounts Due

     0.00        0.00        0.00        0.00   

Total Due

     6,540,025.07        564,384.10        759,325.48        7,863,734.65   

Reallocated Investor Finance Charge Collections

           24,598,537.98   

Interest and Principal Funding Investment Proceeds

           0.00   

Interest on Reserve Account

           0.00   

Series Adjusted Portfolio Yield

           18.8232

Base Rate

           3.8921

Excess Spread Percentage

           14.7266

C. Certificates - Balances and Distributions

   Class A     Class B     Collateral Interest     Total  

Beginning Certificates Balance

     1,200,000,000.00        75,001,000.00        88,637,000.00        1,363,638,000.00   

Distributions of Interest

     1,458,700.00        246,797.04        383,997.64        2,089,494.68   

Deposits to the Principal Funding Account

     0.00        0.00        0.00        0.00   

Distributions of Principal

     0.00        0.00        0.00        0.00   

Total Distributions

     1,458,700.00        246,797.04        383,997.64        2,089,494.68   

Ending Certificates Balance

     1,200,000,000.00        75,001,000.00        88,637,000.00        1,363,638,000.00   

 

24


D)      Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.

  

(1)     The total amount of the distribution:

   $ 1.22   

(2)     The amount of the distribution in respect of Class A Monthly Interest:

   $ 1.22   

(3)     The amount of the distribution in respect of Class A Outstanding Monthly Interest:

   $ 0.00   

(4)     The amount of the distribution in respect of Class A Additional Interest:

   $ 0.00   

(5)     The amount of the distribution in respect of principal of the Class A Certificates:

   $ 0.00   

E)       Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.

  

(1)     The total amount of Class A Investor Charge-Offs:

   $ 0.00   

(2)     The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of Class A Investor Charge-Offs:

   $ 0.00   

(4)     The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

F)       Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.

  

(1)     The total amount of the distribution in respect of Class B Certificates:

   $ 3.29   

(2)     The amount of the distribution in respect of Class B Monthly Interest:

   $ 3.29   

(3)     The amount of the distribution in respect of Class B Outstanding Monthly Interest:

   $ 0.00   

(4)     The amount of the distribution in respect of Class B Additional Interest:

   $ 0.00   

(5)     The amount of the distribution in respect of principal of the Class B Certificates:

   $ 0.00   

 

25


G)      Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.

  

(1)     The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:

   $ 0.00   

(2)     The amount of the reductions in the Class B Invested Amount per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of such reductions in the Class B Invested Amount:

   $ 0.00   

(4)     The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

H)      Information regarding distributions on the Distribution Date to the Collateral Interest Holder.

  

(1)     The total amount distributed to the Collateral Interest Holder:

   $ 17,118,800.97   

(2)     The amount of the distribution in respect of Collateral Minimum Monthly Interest:

   $ 383,997.64   

(3)     The amount of the distribution in respect of Collateral Additional Interest:

   $ 0.00   

(4)     The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:

   $ 0.00   

(5)     The amount of the distribution to the Collateral Interest Holder in respect of remaining Excess Spread:

   $ 16,734,803.33   

I)        Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.

  

(1)     The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:

   $ 0.00   

(2)     The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:

   $ 0.00   

 

26


J.       Application of Reallocated Investor Finance Charge Collections

  

1.       Class A Available Funds

   $ 21,646,687.45   

a.       Class A Monthly Interest

   $ 1,458,700.00   

b.       Class A Outstanding Monthly Interest

   $ 0.00   

c.       Class A Additional Interest

   $ 0.00   

d.       Class A Investor Default Amount (treated as Available Principal Collections)

   $ 3,081,325.07   

e.       Excess Spread

   $ 17,106,662.38   

2.       Class B Available Funds

   $ 1,352,936.00   

a.       Class B Monthly Interest

   $ 246,797.04   

b.       Class B Outstanding Monthly Interest

   $ 0.00   

c.       Class B Additional Interest

   $ 0.00   

d.       Excess Spread

   $ 1,106,138.96   

3.       Collateral Available Funds

   $ 1,598,914.53   

a.       Excess Spread

   $ 1,598,914.53   

4.       Total Excess Spread

   $ 19,811,715.87   

K.      Reallocated Principal Collections

  

1.       Principal Allocation Percentage

     57.5549

2.       Series 2008-2 Allocable Principal Collections

   $ 774,284,595.11   

3.       Principal Allocation Percentage of Series 2008-2 Allocable Principal Collections

   $ 445,638,809.81   

4.       Reallocated Principal Collections Required to fund the Required Amount

   $ 0.00   

5.       Item 3 minus Item 4

   $ 445,638,809.81   

6.       Shared Principal Collections from other Series allocated to Series 2008-2

   $ 0.00   

7.       Other amounts treated as Available Principal Collections:

   $ 3,501,509.97   

8.       Available Principal Collections (total of items 5, 6 and 7)

   $ 449,140,319.78   

L.      Application of Available Principal Collections during Revolving Period

  

1.       Collateral Invested Amount

   $ 88,637,000.00   

2.       Required Collateral Invested Amount

   $ 88,637,000.00   

3.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

4.       Treated as Shared Principal Collections

   $ 449,140,319.78   

 

27


M.     Application of Principal Collections During Accumulation or Amortization Period

  

1.       Principal Funding Account

   $ 0.00   

2.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

3.       Distribution of Principal

   $ 0.00   

4.       Treated as Shared Principal Collections

   $ 0.00   

N.1.   Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2008-2

  

1.       Excess Spread

   $ 19,811,715.87   

2.       Excess Finance Charge Collections

   $ 0.00   

3.       Applied to fund Class A Required Amount

   $ 0.00   

4.       Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

5.       Applied to fund overdue Class B Interest

   $ 0.00   

6.       Applied to fund Class B Required Amount

   $ 192,585.39   

7.       Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

8.       Applied to Collateral Minimum Monthly Interest

   $ 383,997.64   

9.       Applied to unpaid Monthly Servicing Fee

   $ 2,272,730.00   

10.     Collateral Default Amount treated as Available Principal Collections

   $ 227,599.51   

11.     Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

12.     Deposited to Reserve Account

   $ 0.00   

13.     Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 16,734,803.33   

N.2.   Application of Excess Spread, Excess Finance Charge Collections and Funds from Series 2009-D-II Allocated to Series 2008-2

  

1.       Excess Spread

   $ 19,811,715.87   

2.       Excess Finance Charge Collections

   $ 0.00   

3.       Funds from Series 2009-D-II

   $ 0.00   

4.       Applied to fund Class A Required Amount

   $ 0.00   

5.       Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

6.       Applied to fund overdue Class B Interest

   $ 0.00   

7.       Applied to fund Class B Required Amount

   $ 192,585.39   

8.       Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

9.       Applied to Collateral Minimum Monthly Interest

   $ 383,997.64   

10.     Applied to unpaid Monthly Servicing Fee

   $ 2,272,730.00   

11.     Collateral Default Amount treated as Available Principal Collections

   $ 227,599.51   

12.     Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

13.     Deposited to Reserve Account

   $ 0.00   

14.     Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 16,734,803.33   

 

28


O.      Yield and Base Rate

  

1.       Base Rate

  

a.       Current Monthly Period

     3.8921

b.       Prior Monthly Period

     3.8312

c.       Second Prior Monthly Period

     4.0394

2.       Three Month Average Base Rate

     3.9209

3.       Series Adjusted Portfolio Yield

  

a.       Current Monthly Period

     18.8232

b.       Prior Monthly Period

     17.3561

c.       Second Prior Monthly Period

     19.3702

4.       Three Month average Series Adjusted Portfolio Yield

     18.5165

5.       Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?

     Yes   

 

29


Series 2008-4 Certificates

 

A. Investor/Transferor Allocations

   Series
Allocations
     Total Investor
Interest
    Transferors’ Interest  

Beginning Invested Amount/Transferor Amount

     1,056,306,037.40         607,956,000.00        448,350,037.40   

Beginning Adjusted Invested Amount

     N/A         607,956,000.00        N/A   

Floating Allocation Percentage

     N/A         57.5549     42.4451

Principal Allocation Percentage

     N/A         57.5549     42.4451

Collections of Finance Charge Receivables

     18,360,539.80         10,567,392.35        7,793,147.45   

Collections of Principal Receivables

     345,202,293.65         198,680,872.97        146,521,420.68   

Defaulted Amount

     2,712,351.90         1,561,091.72        1,151,260.18   

Ending Invested Amount / Transferor Amount

     1,051,536,229.79         607,956,000.00        443,580,229.79   

 

B. Monthly Period Funding Requirements

   Class A     Class B     Collateral Interest     Total  

Principal Funding Account Balance

     0.00        0.00        0.00        0.00   

Investment Proceeds for Monthly Period

     0.00        0.00        0.00        0.00   

Reserve Account Opening Balance

     0.00        0.00        0.00        0.00   

Reserve Account Investment Proceeds retained per Section 4.12(b)

     0.00        0.00        0.00        0.00   

Reserve Account Deposit

     0.00        0.00        0.00        0.00   

Reserve Draw Amount

     0.00        0.00        0.00        0.00   

Reserve Account Surplus (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Reserve Account Closing Balance (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Required Reserve Account Amount

     0.00        0.00        0.00        0.00   

LIBOR Determination Date

     April 11, 2013        April 11, 2013        April 11, 2013     

Coupon April 15, 2013 to May 14, 2013

     1.59870     0.89870     1.14870  

Monthly Interest Due

     712,753.75        25,042.28        37,828.61        775,624.64   

Outstanding Monthly Interest Due

     0.00        0.00        0.00        0.00   

Additional Interest Due

     0.00        0.00        0.00        0.00   

Total Interest Due

     712,753.75        25,042.28        37,828.61        775,624.64   

Investor Default Amount

     1,373,757.43        85,861.12        101,473.17        1,561,091.72   

Investor Monthly Fees Due

     891,666.67        55,730.00        65,863.33        1,013,260.00   

Investor Additional Amounts Due

     0.00        0.00        0.00        0.00   

Total Due

     2,978,177.85        166,633.40        205,165.11        3,349,976.36   

Reallocated Investor Finance Charge Collections

           10,810,918.41   

Interest and Principal Funding Investment Proceeds

           0.00   

Interest on Reserve Account

           0.00   

Series Adjusted Portfolio Yield

           18.5111

Base Rate

           3.5800

Excess Spread Percentage

           14.7266

C. Certificates - Balances and Distributions

   Class A     Class B     Collateral Interest     Total  

Beginning Certificates Balance

     535,000,000.00        33,438,000.00        39,518,000.00        607,956,000.00   

Distributions of Interest

     712,753.75        25,042.28        37,828.61        775,624.64   

Deposits to the Principal Funding Account

     0.00        0.00        0.00        0.00   

Distributions of Principal

     0.00        0.00        0.00        0.00   

Total Distributions

     712,753.75        25,042.28        37,828.61        775,624.64   

Ending Certificates Balance

     535,000,000.00        33,438,000.00        39,518,000.00        607,956,000.00   

 

30


D)      Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.

  

(1)     The total amount of the distribution:

   $1.33  

(2)     The amount of the distribution in respect of Class A Monthly Interest:

   $1.33  

(3)     The amount of the distribution in respect of Class A Outstanding Monthly Interest:

   $0.00  

(4)     The amount of the distribution in respect of Class A Additional Interest:

   $0.00  

(5)     The amount of the distribution in respect of principal of the Class A Certificates:

   $0.00  

E)       Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.

  

(1)     The total amount of Class A Investor Charge-Offs:

   $0.00  

(2)     The amount of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $0.00  

(3)     The total amount reimbursed in respect of Class A Investor Charge-Offs:

   $0.00  

(4)     The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $0.00  

(5)     The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:

   $0.00  

F)       Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.

(1)     The total amount of the distribution in respect of Class B Certificates:

   $0.75  

(2)     The amount of the distribution in respect of Class B Monthly Interest:

   $0.75  

(3)     The amount of the distribution in respect of Class B Outstanding Monthly Interest:

   $0.00  

(4)     The amount of the distribution in respect of Class B Additional Interest:

   $0.00  

(5)     The amount of the distribution in respect of principal of the Class B Certificates:

   $0.00  

 

31


G)      Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.

  

(1)     The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:

   $ 0.00   

(2)     The amount of the reductions in the Class B Invested Amount per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of such reductions in the Class B Invested Amount:

   $ 0.00   

(4)     The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

H)      Information regarding distributions on the Distribution Date to the Collateral Interest Holder.

  

(1)     The total amount distributed to the Collateral Interest Holder:

   $ 7,498,770.66   

(2)     The amount of the distribution in respect of Collateral Minimum Monthly Interest:

   $ 37,828.61   

(3)     The amount of the distribution in respect of Collateral Additional Interest:

   $ 0.00   

(4)     The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:

   $ 0.00   

(5)     The amount of the distribution to the Collateral Interest Holder in respect of remaining Excess Spread:

   $ 7,460,942.05   

I)        Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.

  

(1)     The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:

   $ 0.00   

(2)     The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:

   $ 0.00   

 

32


J.        Application of Reallocated Investor Finance Charge Collections

  

1.       Class A Available Funds

   $ 9,513,585.44   

a.       Class A Monthly Interest

   $ 712,753.75   

b.       Class A Outstanding Monthly Interest

   $ 0.00   

c.       Class A Additional Interest

   $ 0.00   

d.       Class A Investor Default Amount (treated as Available Principal Collections)

   $ 1,373,757.43   

e.       Excess Spread

   $ 7,427,074.26   

2.       Class B Available Funds

   $ 594,607.98   

a.       Class B Monthly Interest

   $ 25,042.28   

b.       Class B Outstanding Monthly Interest

   $ 0.00   

c.       Class B Additional Interest

   $ 0.00   

d.       Excess Spread

   $ 569,565.70   

3.       Collateral Available Funds

   $ 702,724.99   

a.       Excess Spread

   $ 702,724.99   

4.       Total Excess Spread

   $ 8,699,364.95   

K.       Reallocated Principal Collections

  

1.       Principal Allocation Percentage

     57.5549

2.       Series 2008-4 Allocable Principal Collections

   $ 345,202,293.65   

3.       Principal Allocation Percentage of Series 2008-4 Allocable Principal Collections

   $ 198,680,872.97   

4.       Reallocated Principal Collections Required to fund the Required Amount

   $ 0.00   

5.       Item 3 minus Item 4

   $ 198,680,872.97   

6.       Shared Principal Collections from other Series allocated to Series 2008-4

   $ 0.00   

7.       Other amounts treated as Available Principal Collections:

   $ 1,561,091.72   

8.       Available Principal Collections (total of items 5, 6 and 7)

   $ 200,241,964.69   

L.       Application of Available Principal Collections during Revolving Period

  

1.       Collateral Invested Amount

   $ 39,518,000.00   

2.       Required Collateral Invested Amount

   $ 39,518,000.00   

3.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

4.       Treated as Shared Principal Collections

   $ 200,241,964.69   

 

33


M.      Application of Principal Collections During Accumulation or Amortization Period

  

1.       Principal Funding Account

   $ 0.00   

2.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

3.       Distribution of Principal

   $ 0.00   

4.       Treated as Shared Principal Collections

   $ 0.00   

N.1.   Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2008-4

  

1.       Excess Spread

   $ 8,699,364.95   

2.       Excess Finance Charge Collections

   $ 0.00   

3.       Applied to fund Class A Required Amount

   $ 0.00   

4.       Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

5.       Applied to fund overdue Class B Interest

   $ 0.00   

6.       Applied to fund Class B Required Amount

   $ 85,861.12   

7.       Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

8.       Applied to Collateral Minimum Monthly Interest

   $ 37,828.61   

9.       Applied to unpaid Monthly Servicing Fee

   $ 1,013,260.00   

10.     Collateral Default Amount treated as Available Principal Collections

   $ 101,473.17   

11.     Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

12.     Deposited to Reserve Account

   $ 0.00   

13.     Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 7,460,942.05   

N.2.   Application of Excess Spread, Excess Finance Charge Collections and Funds from Series 2009-D-II Allocated to Series 2008-4

  

1.       Excess Spread

   $ 8,699,364.95   

2.       Excess Finance Charge Collections

   $ 0.00   

3.       Funds from Series 2009-D-II

   $ 0.00   

4.       Applied to fund Class A Required Amount

   $ 0.00   

5.       Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

6.       Applied to fund overdue Class B Interest

   $ 0.00   

7.       Applied to fund Class B Required Amount

   $ 85,861.12   

8.       Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

9.       Applied to Collateral Minimum Monthly Interest

   $ 37,828.61   

10.     Applied to unpaid Monthly Servicing Fee

   $ 1,013,260.00   

11.     Collateral Default Amount treated as Available Principal Collections

   $ 101,473.17   

12.     Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

13.     Deposited to Reserve Account

   $ 0.00   

14.     Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 7,460,942.05   

 

34


O.       Yield and Base Rate

  

1.       Base Rate

  

a.       Current Monthly Period

     3.5800

b.       Prior Monthly Period

     3.5191

c.       Second Prior Monthly Period

     3.7274

2.       Three Month Average Base Rate

     3.6088

3.       Series Adjusted Portfolio Yield

  

a.       Current Monthly Period

     18.5111

b.       Prior Monthly Period

     17.0441

c.       Second Prior Monthly Period

     19.0581

4.       Three Month average Series Adjusted Portfolio Yield

     18.2044

5.       Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?

     Yes   

 

35


Series 2008-5 Certificates

 

A. Investor/Transferor Allocations

   Series
Allocations
     Total Investor
Interest
    Transferors’ Interest  

Beginning Invested Amount/Transferor Amount

     1,579,519,425.49         909,091,000.00        670,428,425.49   

Beginning Adjusted Invested Amount

     N/A         909,091,000.00        N/A   

Floating Allocation Percentage

     N/A         57.5549     42.4451

Principal Allocation Percentage

     N/A         57.5549     42.4451

Collections of Finance Charge Receivables

     27,454,949.84         15,801,671.95        11,653,277.89   

Collections of Principal Receivables

     516,189,162.27         297,092,213.08        219,096,949.19   

Defaulted Amount

     4,055,844.01         2,334,337.41        1,721,506.60   

Ending Invested Amount / Transferor Amount

     1,572,387,019.25         909,091,000.00        663,296,019.25   

 

B. Monthly Period Funding Requirements

   Class A     Class B     Collateral Interest     Total  

Principal Funding Account Balance

     0.00        0.00        0.00        0.00   

Investment Proceeds for Monthly Period

     0.00        0.00        0.00        0.00   

Reserve Account Opening Balance

     0.00        0.00        0.00        0.00   

Reserve Account Investment Proceeds retained per Section 4.12(b)

     0.00        0.00        0.00        0.00   

Reserve Account Deposit

     4,000,000.00        0.00        0.00        4,000,000.00   

Reserve Draw Amount

     0.00        0.00        0.00        0.00   

Reserve Account Surplus (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Reserve Account Closing Balance (after giving effect to any principal distributions on the related Distribution Date)

     4,000,000.00        0.00        0.00        4,000,000.00   

Required Reserve Account Amount

     4,000,000.00        0.00        0.00        4,000,000.00   

LIBOR Determination Date

     April 11, 2013        April 11, 2013        April 11, 2013     

Coupon April 15, 2013 to May 14, 2013

     0.99870     1.29870     3.99870  

Monthly Interest Due

     665,800.00        54,112.50        196,905.98        916,818.48   

Outstanding Monthly Interest Due

     0.00        0.00        0.00        0.00   

Additional Interest Due

     0.00        0.00        0.00        0.00   

Total Interest Due

     665,800.00        54,112.50        196,905.98        916,818.48   

Investor Default Amount

     2,054,216.72        128,388.54        151,732.15        2,334,337.41   

Investor Monthly Fees Due

     1,333,333.33        83,333.33        98,485.00        1,515,151.66   

Investor Additional Amounts Due

     0.00        0.00        0.00        0.00   

Total Due

     4,053,350.05        265,834.37        447,123.13        4,766,307.55   

Reallocated Investor Finance Charge Collections

           15,922,830.83   

Interest and Principal Funding Investment Proceeds

           0.00   

Interest on Reserve Account

           0.00   

Series Adjusted Portfolio Yield

           18.1859

Base Rate

           3.2548

Excess Spread Percentage

           14.7266

C. Certificates - Balances and Distributions

   Class A     Class B     Collateral Interest     Total  

Beginning Certificates Balance

     800,000,000.00        50,000,000.00        59,091,000.00        909,091,000.00   

Distributions of Interest

     665,800.00        54,112.50        196,905.98        916,818.48   

Deposits to the Principal Funding Account

     0.00        0.00        0.00        0.00   

Distributions of Principal

     0.00        0.00        0.00        0.00   

Total Distributions

     665,800.00        54,112.50        196,905.98        916,818.48   

Ending Certificates Balance

     800,000,000.00        50,000,000.00        59,091,000.00        909,091,000.00   

 

36


D)     Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.

  

(1)    The total amount of the distribution:

   $ 0.83   

(2)    The amount of the distribution in respect of Class A Monthly Interest:

   $ 0.83   

(3)    The amount of the distribution in respect of Class A Outstanding Monthly Interest:

   $ 0.00   

(4)    The amount of the distribution in respect of Class A Additional Interest:

   $ 0.00   

(5)    The amount of the distribution in respect of principal of the Class A Certificates:

   $ 0.00   

E)      Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.

  

(1)    The total amount of Class A Investor Charge-Offs:

   $ 0.00   

(2)    The amount of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $ 0.00   

(3)    The total amount reimbursed in respect of Class A Investor Charge-Offs:

   $ 0.00   

(4)    The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $ 0.00   

(5)    The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

F)      Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.

  

(1)    The total amount of the distribution in respect of Class B Certificates:

   $ 1.08   

(2)    The amount of the distribution in respect of Class B Monthly Interest:

   $ 1.08   

(3)    The amount of the distribution in respect of Class B Outstanding Monthly Interest:

   $ 0.00   

(4)    The amount of the distribution in respect of Class B Additional Interest:

   $ 0.00   

(5)    The amount of the distribution in respect of principal of the Class B Certificates:

   $ 0.00   

 

37


G)     Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.

  

(1)    The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:

   $ 0.00   

(2)    The amount of the reductions in the Class B Invested Amount per $1,000 original certificate principal amount:

   $ 0.00   

(3)    The total amount reimbursed in respect of such reductions in the Class B Invested Amount:

   $ 0.00   

(4)    The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:

   $ 0.00   

(5)    The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

H)     Information regarding distributions on the Distribution Date to the Collateral Interest Holder.

  

(1)    The total amount distributed to the Collateral Interest Holder:

   $ 7,353,429.26   

(2)    The amount of the distribution in respect of Collateral Minimum Monthly Interest:

   $ 196,905.98   

(3)    The amount of the distribution in respect of Collateral Additional Interest:

   $ 0.00   

(4)    The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:

   $ 0.00   

(5)    The amount of the distribution to the Collateral Interest Holder in respect of remaining Excess Spread:

   $ 7,156,523.28   

I)       Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.

  

(1)    The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:

   $ 0.00   

(2)    The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:

   $ 0.00   

 

38


J.       Application of Reallocated Investor Finance Charge Collections

  

1.      Class A Available Funds

   $ 14,012,089.73   

a.      Class A Monthly Interest

   $ 665,800.00   

b.      Class A Outstanding Monthly Interest

   $ 0.00   

c.      Class A Additional Interest

   $ 0.00   

d.      Class A Investor Default Amount (treated as Available Principal Collections)

   $ 2,054,216.72   

e.      Excess Spread

   $ 11,292,073.01   

2.      Class B Available Funds

   $ 875,755.61   

a.      Class B Monthly Interest

   $ 54,112.50   

b.      Class B Outstanding Monthly Interest

   $ 0.00   

c.      Class B Additional Interest

   $ 0.00   

d.      Excess Spread

   $ 821,643.11   

3.      Collateral Available Funds

   $ 1,034,985.49   

a.      Excess Spread

   $ 1,034,985.49   

4.      Total Excess Spread

   $ 13,148,701.61   

K.      Reallocated Principal Collections

  

1.      Principal Allocation Percentage

     57.5549

2.      Series 2008-5 Allocable Principal Collections

   $ 516,189,162.27   

3.      Principal Allocation Percentage of Series 2008-5 Allocable Principal Collections

   $ 297,092,213.08   

4.      Reallocated Principal Collections Required to fund the Required Amount

   $ 0.00   

5.      Item 3 minus Item 4

   $ 297,092,213.08   

6.      Shared Principal Collections from other Series allocated to Series 2008-5

   $ 0.00   

7.      Other amounts treated as Available Principal Collections:

   $ 2,334,337.41   

8.      Available Principal Collections (total of items 5, 6 and 7)

   $ 299,426,550.49   

L.      Application of Available Principal Collections during Revolving Period

  

1.      Collateral Invested Amount

   $ 59,091,000.00   

2.      Required Collateral Invested Amount

   $ 59,091,000.00   

3.      Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

4.      Treated as Shared Principal Collections

   $ 299,426,550.49   

 

39


M.     Application of Principal Collections During Accumulation or Amortization Period

  

1.      Principal Funding Account

   $ 0.00   

2.      Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

3.      Distribution of Principal

   $ 0.00   

4.      Treated as Shared Principal Collections

   $ 0.00   

N.1.  Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2008-5

  

1.      Excess Spread

   $ 13,148,701.61   

2.      Excess Finance Charge Collections

   $ 0.00   

3.      Applied to fund Class A Required Amount

   $ 0.00   

4.      Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

5.      Applied to fund overdue Class B Interest

   $ 0.00   

6.      Applied to fund Class B Required Amount

   $ 128,388.54   

7.      Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

8.      Applied to Collateral Minimum Monthly Interest

   $ 196,905.98   

9.      Applied to unpaid Monthly Servicing Fee

   $ 1,515,151.66   

10.    Collateral Default Amount treated as Available Principal Collections

   $ 151,732.15   

11.    Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

12.    Deposited to Reserve Account

   $ 4,000,000.00   

13.    Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 7,156,523.28   

N.2.  Application of Excess Spread, Excess Finance Charge Collections and Funds from Series 2009-D-II Allocated to Series 2008-5

  

1.      Excess Spread

   $ 13,148,701.61   

2.      Excess Finance Charge Collections

   $ 0.00   

3.      Funds from Series 2009-D-II

   $ 0.00   

4.      Applied to fund Class A Required Amount

   $ 0.00   

5.      Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

6.      Applied to fund overdue Class B Interest

   $ 0.00   

7.      Applied to fund Class B Required Amount

   $ 128,388.54   

8.      Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

9.      Applied to Collateral Minimum Monthly Interest

   $ 196,905.98   

10.    Applied to unpaid Monthly Servicing Fee

   $ 1,515,151.66   

11.    Collateral Default Amount treated as Available Principal Collections

   $ 151,732.15   

12.    Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

13.    Deposited to Reserve Account

   $ 4,000,000.00   

14.    Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 7,156,523.28   

 

40


O.      Yield and Base Rate

  

1.      Base Rate

  

a.      Current Monthly Period

     3.2548

b.      Prior Monthly Period

     3.1939

c.      Second Prior Monthly Period

     3.4022

2.      Three Month Average Base Rate

     3.2836

3.      Series Adjusted Portfolio Yield

  

a.      Current Monthly Period

     18.1859

b.      Prior Monthly Period

     16.7189

c.      Second Prior Monthly Period

     18.7329

4.      Three Month average Series Adjusted Portfolio Yield

     17.8792

5.      Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?

     Yes   

 

41


Series 2008-6 Certificates

 

A. Investor/Transferor Allocations

   Series
Allocations
     Total Investor
Interest
    Transferors’ Interest  

Beginning Invested Amount/Transferor Amount

     2,665,438,921.92         1,534,091,000.00        1,131,347,921.92   

Beginning Adjusted Invested Amount

     N/A         1,534,091,000.00        N/A   

Floating Allocation Percentage

     N/A         57.5549     42.4451

Principal Allocation Percentage

     N/A         57.5549     42.4451

Collections of Finance Charge Receivables

     46,330,225.96         26,665,320.33        19,664,905.63   

Collections of Principal Receivables

     871,069,175.84         501,343,089.14        369,726,086.70   

Defaulted Amount

     6,844,236.49         3,939,194.22        2,905,042.27   

Ending Invested Amount / Transferor Amount

     2,653,402,986.88         1,534,091,000.00        1,119,311,986.88   

 

B. Monthly Period Funding Requirements

   Class A     Class B     Collateral Interest     Total  

Principal Funding Account Balance

     0.00        0.00        0.00        0.00   

Investment Proceeds for Monthly Period

     0.00        0.00        0.00        0.00   

Reserve Account Opening Balance

     0.00        0.00        0.00        0.00   

Reserve Account Investment Proceeds retained per Section 4.12(b)

     0.00        0.00        0.00        0.00   

Reserve Account Deposit

     0.00        0.00        0.00        0.00   

Reserve Draw Amount

     0.00        0.00        0.00        0.00   

Reserve Account Surplus (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Reserve Account Closing Balance (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Required Reserve Account Amount

     0.00        0.00        0.00        0.00   

LIBOR Determination Date

     April 11, 2013        April 11, 2013        April 11, 2013     

Coupon April 15, 2013 to May 14, 2013

     1.39870     3.19870     4.69870  

Monthly Interest Due

     1,573,537.50        224,908.59        390,446.31        2,188,892.40   

Outstanding Monthly Interest Due

     0.00        0.00        0.00        0.00   

Additional Interest Due

     0.00        0.00        0.00        0.00   

Total Interest Due

     1,573,537.50        224,908.59        390,446.31        2,188,892.40   

Investor Default Amount

     3,466,490.71        216,655.67        256,047.84        3,939,194.22   

Investor Monthly Fees Due

     2,250,000.00        140,625.00        166,193.33        2,556,818.33   

Investor Additional Amounts Due

     0.00        0.00        0.00        0.00   

Total Due

     7,290,028.21        582,189.26        812,687.48        8,684,904.95   

Reallocated Investor Finance Charge Collections

           27,511,537.22   

Interest and Principal Funding Investment Proceeds

           0.00   

Interest on Reserve Account

           0.00   

Series Adjusted Portfolio Yield

           18.6949

Base Rate

           3.7638

Excess Spread Percentage

           14.7266

C. Certificates - Balances and Distributions

   Class A     Class B     Collateral Interest     Total  

Beginning Certificates Balance

     1,350,000,000.00        84,375,000.00        99,716,000.00        1,534,091,000.00   

Distributions of Interest

     1,573,537.50        224,908.59        390,446.31        2,188,892.40   

Deposits to the Principal Funding Account

     0.00        0.00        0.00        0.00   

Distributions of Principal

     0.00        0.00        0.00        0.00   

Total Distributions

     1,573,537.50        224,908.59        390,446.31        2,188,892.40   

Ending Certificates Balance

     1,350,000,000.00        84,375,000.00        99,716,000.00        1,534,091,000.00   

 

42


D)      Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.

  

(1)     The total amount of the distribution:

   $ 1.17   

(2)     The amount of the distribution in respect of Class A Monthly Interest:

   $ 1.17   

(3)     The amount of the distribution in respect of Class A Outstanding Monthly Interest:

   $ 0.00   

(4)     The amount of the distribution in respect of Class A Additional Interest:

   $ 0.00   

(5)     The amount of the distribution in respect of principal of the Class A Certificates:

   $ 0.00   

E)       Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.

  

(1)     The total amount of Class A Investor Charge-Offs:

   $ 0.00   

(2)     The amount of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of Class A Investor Charge-Offs:

   $ 0.00   

(4)     The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

F)       Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.

  

(1)     The total amount of the distribution in respect of Class B Certificates:

   $ 2.67   

(2)     The amount of the distribution in respect of Class B Monthly Interest:

   $ 2.67   

(3)     The amount of the distribution in respect of Class B Outstanding Monthly Interest:

   $ 0.00   

(4)     The amount of the distribution in respect of Class B Additional Interest:

   $ 0.00   

(5)     The amount of the distribution in respect of principal of the Class B Certificates:

   $ 0.00   

 

43


G)      Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.

  

(1)     The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:

   $ 0.00   

(2)     The amount of the reductions in the Class B Invested Amount per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of such reductions in the Class B Invested Amount:

   $ 0.00   

(4)     The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

H)      Information regarding distributions on the Distribution Date to the Collateral Interest Holder.

  

(1)     The total amount distributed to the Collateral Interest Holder:

   $ 19,217,078.58   

(2)     The amount of the distribution in respect of Collateral Minimum Monthly Interest:

   $ 390,446.31   

(3)     The amount of the distribution in respect of Collateral Additional Interest:

   $ 0.00   

(4)     The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:

   $ 0.00   

(5)     The amount of the distribution to the Collateral Interest Holder in respect of remaining Excess Spread:

   $ 18,826,632.27   

I)        Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.

  

(1)     The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:

   $ 0.00   

(2)     The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:

   $ 0.00   

 

44


J.       Application of Reallocated Investor Finance Charge Collections

  

1.       Class A Available Funds

   $ 24,210,151.32   

a.       Class A Monthly Interest

   $ 1,573,537.50   

b.       Class A Outstanding Monthly Interest

   $ 0.00   

c.       Class A Additional Interest

   $ 0.00   

d.       Class A Investor Default Amount (treated as Available Principal Collections)

   $ 3,466,490.71   

e.       Excess Spread

   $ 19,170,123.11   

2.       Class B Available Funds

   $ 1,513,134.46   

a.       Class B Monthly Interest

   $ 224,908.59   

b.       Class B Outstanding Monthly Interest

   $ 0.00   

c.       Class B Additional Interest

   $ 0.00   

d.       Excess Spread

   $ 1,288,225.87   

3.       Collateral Available Funds

   $ 1,788,251.44   

a.       Excess Spread

   $ 1,788,251.44   

4.       Total Excess Spread

   $ 22,246,600.42   

K.      Reallocated Principal Collections

  

1.       Principal Allocation Percentage

     57.5549

2.       Series 2008-6 Allocable Principal Collections

   $ 871,069,175.84   

3.       Principal Allocation Percentage of Series 2008-6 Allocable Principal Collections

   $ 501,343,089.14   

4.       Reallocated Principal Collections Required to fund the Required Amount

   $ 0.00   

5.       Item 3 minus Item 4

   $ 501,343,089.14   

6.       Shared Principal Collections from other Series allocated to Series 2008-6

   $ 0.00   

7.       Other amounts treated as Available Principal Collections:

   $ 3,939,194.22   

8.       Available Principal Collections (total of items 5, 6 and 7)

   $ 505,282,283.36   

L.      Application of Available Principal Collections during Revolving Period

  

1.       Collateral Invested Amount

   $ 99,716,000.00   

2.       Required Collateral Invested Amount

   $ 99,716,000.00   

3.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

4.       Treated as Shared Principal Collections

   $ 505,282,283.36   

 

45


M.     Application of Principal Collections During Accumulation or Amortization Period

  

1.       Principal Funding Account

   $ 0.00   

2.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

3.       Distribution of Principal

   $ 0.00   

4.       Treated as Shared Principal Collections

   $ 0.00   

N.1.  Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2008-6

  

1.       Excess Spread

   $ 22,246,600.42   

2.       Excess Finance Charge Collections

   $ 0.00   

3.       Applied to fund Class A Required Amount

   $ 0.00   

4.       Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

5.       Applied to fund overdue Class B Interest

   $ 0.00   

6.       Applied to fund Class B Required Amount

   $ 216,655.67   

7.       Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

8.       Applied to Collateral Minimum Monthly Interest

   $ 390,446.31   

9.       Applied to unpaid Monthly Servicing Fee

   $ 2,556,818.33   

10.     Collateral Default Amount treated as Available Principal Collections

   $ 256,047.84   

11.     Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

12.     Deposited to Reserve Account

   $ 0.00   

13.     Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 18,826,632.27   

N.2.  Application of Excess Spread, Excess Finance Charge Collections and Funds from Series 2009-D-II Allocated to Series 2008-6

  

1.       Excess Spread

   $ 22,246,600.42   

2.       Excess Finance Charge Collections

   $ 0.00   

3.       Funds from Series 2009-D-II

   $ 0.00   

4.       Applied to fund Class A Required Amount

   $ 0.00   

5.       Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

6.       Applied to fund overdue Class B Interest

   $ 0.00   

7.       Applied to fund Class B Required Amount

   $ 216,655.67   

8.       Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

9.       Applied to Collateral Minimum Monthly Interest

   $ 390,446.31   

10.     Applied to unpaid Monthly Servicing Fee

   $ 2,556,818.33   

11.     Collateral Default Amount treated as Available Principal Collections

   $ 256,047.84   

12.     Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

13.     Deposited to Reserve Account

   $ 0.00   

14.     Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 18,826,632.27   

 

46


O.      Yield and Base Rate

  

1.       Base Rate

  

a.       Current Monthly Period

     3.7638

b.       Prior Monthly Period

     3.7029

c.       Second Prior Monthly Period

     3.9111

2.       Three Month Average Base Rate

     3.7926

3.       Series Adjusted Portfolio Yield

  

a.       Current Monthly Period

     18.6949

b.       Prior Monthly Period

     17.2278

c.       Second Prior Monthly Period

     19.2419

4.       Three Month average Series Adjusted Portfolio Yield

     18.3882

5.       Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?

     Yes   

 

47


Series 2008-7 Certificates

 

A. Investor/Transferor Allocations

   Series
Allocations
     Total Investor
Interest
    Transferors’ Interest  

Beginning Invested Amount/Transferor Amount

     1,036,561,414.74         596,592,000.00        439,969,414.74   

Beginning Adjusted Invested Amount

     N/A         596,592,000.00        N/A   

Floating Allocation Percentage

     N/A         57.5549     42.4451

Principal Allocation Percentage

     N/A         57.5549     42.4451

Collections of Finance Charge Receivables

     18,017,341.98         10,369,865.15        7,647,476.83   

Collections of Principal Receivables

     338,749,723.29         194,967,101.85        143,782,621.44   

Defaulted Amount

     2,661,652.23         1,531,911.57        1,129,740.66   

Ending Invested Amount / Transferor Amount

     1,031,880,765.06         596,592,000.00        435,288,765.06   

 

B. Monthly Period Funding Requirements

   Class A     Class B     Collateral Interest     Total  

Principal Funding Account Balance

     0.00        0.00        0.00        0.00   

Investment Proceeds for Monthly Period

     0.00        0.00        0.00        0.00   

Reserve Account Opening Balance

     0.00        0.00        0.00        0.00   

Reserve Account Investment Proceeds retained per Section 4.12(b)

     0.00        0.00        0.00        0.00   

Reserve Account Deposit

     2,625,000.00        0.00        0.00        2,625,000.00   

Reserve Draw Amount

     0.00        0.00        0.00        0.00   

Reserve Account Surplus (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Reserve Account Closing Balance (after giving effect to any principal distributions on the related Distribution Date)

     2,625,000.00        0.00        0.00        2,625,000.00   

Required Reserve Account Amount

     2,625,000.00        0.00        0.00        2,625,000.00   

LIBOR Determination Date

     April 11, 2013        April 11, 2013        April 11, 2013     

Coupon April 15, 2013 to May 14, 2013

     1.49870     1.29870     4.94870  

Monthly Interest Due

     655,681.25        35,511.87        159,921.36        851,114.48   

Outstanding Monthly Interest Due

     0.00        0.00        0.00        0.00   

Additional Interest Due

     0.00        0.00        0.00        0.00   

Total Interest Due

     655,681.25        35,511.87        159,921.36        851,114.48   

Investor Default Amount

     1,348,079.71        84,256.27        99,575.59        1,531,911.57   

Investor Monthly Fees Due

     875,000.00        54,688.33        64,631.67        994,320.00   

Investor Additional Amounts Due

     0.00        0.00        0.00        0.00   

Total Due

     2,878,760.96        174,456.47        324,128.62        3,377,346.05   

Reallocated Investor Finance Charge Collections

           10,698,827.11   

Interest and Principal Funding Investment Proceeds

           0.00   

Interest on Reserve Account

           0.00   

Series Adjusted Portfolio Yield

           18.6947

Base Rate

           3.7635

Excess Spread Percentage

           14.7266

C. Certificates - Balances and Distributions

   Class A     Class B     Collateral Interest     Total  

Beginning Certificates Balance

     525,000,000.00        32,813,000.00        38,779,000.00        596,592,000.00   

Distributions of Interest

     655,681.25        35,511.87        159,921.36        851,114.48   

Deposits to the Principal Funding Account

     0.00        0.00        0.00        0.00   

Distributions of Principal

     0.00        0.00        0.00        0.00   

Total Distributions

     655,681.25        35,511.87        159,921.36        851,114.48   

Ending Certificates Balance

     525,000,000.00        32,813,000.00        38,779,000.00        596,592,000.00   

 

48


D)      Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.

  

(1)     The total amount of the distribution:

   $ 1.25   

(2)     The amount of the distribution in respect of Class A Monthly Interest:

   $ 1.25   

(3)     The amount of the distribution in respect of Class A Outstanding Monthly Interest:

   $ 0.00   

(4)     The amount of the distribution in respect of Class A Additional Interest:

   $ 0.00   

(5)     The amount of the distribution in respect of principal of the Class A Certificates:

   $ 0.00   

E)       Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.

  

(1)     The total amount of Class A Investor Charge-Offs:

   $ 0.00   

(2)     The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of Class A Investor Charge-Offs:

   $ 0.00   

(4)     The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

F)       Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.

  

(1)     The total amount of the distribution in respect of Class B Certificates:

   $ 1.08   

(2)     The amount of the distribution in respect of Class B Monthly Interest:

   $ 1.08   

(3)     The amount of the distribution in respect of Class B Outstanding Monthly Interest:

   $ 0.00   

(4)     The amount of the distribution in respect of Class B Additional Interest:

   $ 0.00   

(5)     The amount of the distribution in respect of principal of the Class B Certificates:

   $ 0.00   

 

49


G)      Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.

  

(1)     The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:

   $ 0.00   

(2)     The amount of the reductions in the Class B Invested Amount per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of such reductions in the Class B Invested Amount:

   $ 0.00   

(4)     The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

H)      Information regarding distributions on the Distribution Date to the Collateral Interest Holder.

  

(1)     The total amount distributed to the Collateral Interest Holder:

   $ 4,856,402.42   

(2)     The amount of the distribution in respect of Collateral Minimum Monthly Interest:

   $ 159,921.36   

(3)     The amount of the distribution in respect of Collateral Additional Interest:

   $ 0.00   

(4)     The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:

   $ 0.00   

(5)     The amount of the distribution to the Collateral Interest Holder in respect of remaining Excess Spread:

   $ 4,696,481.06   

I)        Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.

  

(1)     The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:

   $ 0.00   

(2)     The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:

   $ 0.00   

 

50


J.       Application of Reallocated Investor Finance Charge Collections

  

1.       Class A Available Funds

   $ 9,414,950.64   

a.       Class A Monthly Interest

   $ 655,681.25   

b.       Class A Outstanding Monthly Interest

   $ 0.00   

c.       Class A Additional Interest

   $ 0.00   

d.       Class A Investor Default Amount (treated as Available Principal Collections)

   $ 1,348,079.71   

e.       Excess Spread

   $ 7,411,189.68   

2.       Class B Available Funds

   $ 588,443.38   

a.       Class B Monthly Interest

   $ 35,511.87   

b.       Class B Outstanding Monthly Interest

   $ 0.00   

c.       Class B Additional Interest

   $ 0.00   

d.       Excess Spread

   $ 552,931.51   

3.       Collateral Available Funds

   $ 695,433.09   

a.       Excess Spread

   $ 695,433.09   

4.       Total Excess Spread

   $ 8,659,554.28   

K.      Reallocated Principal Collections

  

1.       Principal Allocation Percentage

     57.5549

2.       Series 2008-7 Allocable Principal Collections

   $ 338,749,723.29   

3.       Principal Allocation Percentage of Series 2008-7 Allocable Principal Collections

   $ 194,967,101.85   

4.       Reallocated Principal Collections Required to fund the Required Amount

   $ 0.00   

5.       Item 3 minus Item 4

   $ 194,967,101.85   

6.       Shared Principal Collections from other Series allocated to Series 2008-7

   $ 0.00   

7.       Other amounts treated as Available Principal Collections:

   $ 1,531,911.57   

8.       Available Principal Collections (total of items 5, 6 and 7)

   $ 196,499,013.42   

L.      Application of Available Principal Collections during Revolving Period

  

1.       Collateral Invested Amount

   $ 38,779,000.00   

2.       Required Collateral Invested Amount

   $ 38,779,000.00   

3.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

4.       Treated as Shared Principal Collections

   $ 196,499,013.42   

 

51


M.     Application of Principal Collections During Accumulation or Amortization Period

  

1.       Principal Funding Account

   $ 0.00   

2.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

3.       Distribution of Principal

   $ 0.00   

4.       Treated as Shared Principal Collections

   $ 0.00   

N.1.   Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2008-7

  

1.       Excess Spread

   $ 8,659,554.28   

2.       Excess Finance Charge Collections

   $ 0.00   

3.       Applied to fund Class A Required Amount

   $ 0.00   

4.       Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

5.       Applied to fund overdue Class B Interest

   $ 0.00   

6.       Applied to fund Class B Required Amount

   $ 84,256.27   

7.       Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

8.       Applied to Collateral Minimum Monthly Interest

   $ 159,921.36   

9.       Applied to unpaid Monthly Servicing Fee

   $ 994,320.00   

10.     Collateral Default Amount treated as Available Principal Collections

   $ 99,575.59   

11.     Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

12.     Deposited to Reserve Account

   $ 2,625,000.00   

13.     Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 4,696,481.06   

N.2.   Application of Excess Spread, Excess Finance Charge Collections and Funds from Series 2009-D-II Allocated to Series 2008-7

  

1.       Excess Spread

   $ 8,659,554.28   

2.       Excess Finance Charge Collections

   $ 0.00   

3.       Funds from Series 2009-D-II

   $ 0.00   

4.       Applied to fund Class A Required Amount

   $ 0.00   

5.       Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

6.       Applied to fund overdue Class B Interest

   $ 0.00   

7.       Applied to fund Class B Required Amount

   $ 84,256.27   

8.       Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

9.       Applied to Collateral Minimum Monthly Interest

   $ 159,921.36   

10.     Applied to unpaid Monthly Servicing Fee

   $ 994,320.00   

11.     Collateral Default Amount treated as Available Principal Collections

   $ 99,575.59   

12.     Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

13.     Deposited to Reserve Account

   $ 2,625,000.00   

14.     Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 4,696,481.06   

 

52


O.      Yield and Base Rate

        

1.       Base Rate

  

a.       Current Monthly Period

     3.7635

b.       Prior Monthly Period

     3.7027

c.       Second Prior Monthly Period

     3.9109

2.       Three Month Average Base Rate

     3.7923

3.       Series Adjusted Portfolio Yield

  

a.       Current Monthly Period

     18.6947

b.       Prior Monthly Period

     17.2276

c.       Second Prior Monthly Period

     19.2416

4.       Three Month average Series Adjusted Portfolio Yield

     18.3880

5.       Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?

     Yes   

 

53


Series 2008-9 Certificates

 

A. Investor/Transferor Allocations

   Series
Allocations
     Total Investor
Interest
    Transferors’ Interest  

Beginning Invested Amount/Transferor Amount

     1,085,919,496.43         625,000,000.00        460,919,496.43   

Beginning Adjusted Invested Amount

     N/A         625,000,000.00        N/A   

Floating Allocation Percentage

     N/A         57.5549     42.4451

Principal Allocation Percentage

     N/A         57.5549     42.4451

Collections of Finance Charge Receivables

     18,875,276.13         10,863,648.38        8,011,627.75   

Collections of Principal Receivables

     354,880,013.57         204,250,876.06        150,629,137.51   

Defaulted Amount

     2,788,392.48         1,604,856.81        1,183,535.67   

Ending Invested Amount / Transferor Amount

     1,081,015,967.63         625,000,000.00        456,015,967.63   

 

B. Monthly Period Funding Requirements

   Class A     Class B     Collateral Interest     Total  

Principal Funding Account Balance

     0.00        0.00        0.00        0.00   

Investment Proceeds for Monthly Period

     0.00        0.00        0.00        0.00   

Reserve Account Opening Balance

     0.00        0.00        0.00        0.00   

Reserve Account Investment Proceeds retained per Section 4.12(b)

     0.00        0.00        0.00        0.00   

Reserve Account Deposit

     0.00        0.00        0.00        0.00   

Reserve Draw Amount

     0.00        0.00        0.00        0.00   

Reserve Account Surplus (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Reserve Account Closing Balance (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Required Reserve Account Amount

     0.00        0.00        0.00        0.00   

LIBOR Determination Date

     April 11, 2013        April 11, 2013        April 11, 2013     

Coupon April 15, 2013 to May 14, 2013

     1.79870     1.29870     5.94870  

Monthly Interest Due

     824,404.17        37,202.34        201,388.28        1,062,994.79   

Outstanding Monthly Interest Due

     0.00        0.00        0.00        0.00   

Additional Interest Due

     0.00        0.00        0.00        0.00   

Total Interest Due

     824,404.17        37,202.34        201,388.28        1,062,994.79   

Investor Default Amount

     1,412,274.00        88,267.12        104,315.69        1,604,856.81   

Investor Monthly Fees Due

     916,666.67        57,291.67        67,708.33        1,041,666.67   

Investor Additional Amounts Due

     0.00        0.00        0.00        0.00   

Total Due

     3,153,344.84        182,761.13        373,412.30        3,709,518.27   

Reallocated Investor Finance Charge Collections

           11,379,627.26   

Interest and Principal Funding Investment Proceeds

           0.00   

Interest on Reserve Account

           0.00   

Series Adjusted Portfolio Yield

           19.0282

Base Rate

           4.0971

Excess Spread Percentage

           14.7266

C. Certificates - Balances and Distributions

   Class A     Class B     Collateral Interest     Total  

Beginning Certificates Balance

     550,000,000.00        34,375,000.00        40,625,000.00        625,000,000.00   

Distributions of Interest

     824,404.17        37,202.34        201,388.28        1,062,994.79   

Deposits to the Principal Funding Account

     0.00        0.00        0.00        0.00   

Distributions of Principal

     0.00        0.00        0.00        0.00   

Total Distributions

     824,404.17        37,202.34        201,388.28        1,062,994.79   

Ending Certificates Balance

     550,000,000.00        34,375,000.00        40,625,000.00        625,000,000.00   

 

54


D)     Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.

  

(1)     The total amount of the distribution:

   $ 1.50   

(2)     The amount of the distribution in respect of Class A Monthly Interest:

   $ 1.50   

(3)     The amount of the distribution in respect of Class A Outstanding Monthly Interest:

   $ 0.00   

(4)     The amount of the distribution in respect of Class A Additional Interest:

   $ 0.00   

(5)     The amount of the distribution in respect of principal of the Class A Certificates:

   $ 0.00   

E)      Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.

  

(1)     The total amount of Class A Investor Charge-Offs:

   $ 0.00   

(2)     The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of Class A Investor Charge-Offs:

   $ 0.00   

(4)     The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

F)      Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.

  

(1)     The total amount of the distribution in respect of Class B Certificates:

   $ 1.08   

(2)     The amount of the distribution in respect of Class B Monthly Interest:

   $ 1.08   

(3)     The amount of the distribution in respect of Class B Outstanding Monthly Interest:

   $ 0.00   

(4)     The amount of the distribution in respect of Class B Additional Interest:

   $ 0.00   

(5)     The amount of the distribution in respect of principal of the Class B Certificates:

   $ 0.00   

 

55


G)     Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.

  

(1)     The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:

   $ 0.00   

(2)     The amount of the reductions in the Class B Invested Amount per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of such reductions in the Class B Invested Amount:

   $ 0.00   

(4)     The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

H)     Information regarding distributions on the Distribution Date to the Collateral Interest Holder.

  

(1)     The total amount distributed to the Collateral Interest Holder:

   $ 7,871,497.27   

(2)     The amount of the distribution in respect of Collateral Minimum Monthly Interest:

   $ 201,388.28   

(3)     The amount of the distribution in respect of Collateral Additional Interest:

   $ 0.00   

(4)     The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:

   $ 0.00   

(5)     The amount of the distribution to the Collateral Interest Holder in respect of remaining Excess Spread:

   $ 7,670,108.99   

I)       Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.

  

(1)     The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:

   $ 0.00   

(2)     The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:

   $ 0.00   

 

56


J.       Application of Reallocated Investor Finance Charge Collections

  

1.       Class A Available Funds

   $ 10,014,071.99   

a.       Class A Monthly Interest

   $ 824,404.17   

b.       Class A Outstanding Monthly Interest

   $ 0.00   

c.       Class A Additional Interest

   $ 0.00   

d.       Class A Investor Default Amount (treated as Available Principal Collections)

   $ 1,412,274.00   

e.       Excess Spread

   $ 7,777,393.82   

2.       Class B Available Funds

   $ 625,879.50   

a.       Class B Monthly Interest

   $ 37,202.34   

b.       Class B Outstanding Monthly Interest

   $ 0.00   

c.       Class B Additional Interest

   $ 0.00   

d.       Excess Spread

   $ 588,677.16   

3.       Collateral Available Funds

   $ 739,675.77   

a.       Excess Spread

   $ 739,675.77   

4.       Total Excess Spread

   $ 9,105,746.75   

K.      Reallocated Principal Collections

  

1.       Principal Allocation Percentage

     57.5549

2.       Series 2008-9 Allocable Principal Collections

   $ 354,880,013.57   

3.       Principal Allocation Percentage of Series 2008-9 Allocable Principal Collections

   $ 204,250,876.06   

4.       Reallocated Principal Collections Required to fund the Required Amount

   $ 0.00   

5.       Item 3 minus Item 4

   $ 204,250,876.06   

6.       Shared Principal Collections from other Series allocated to Series 2008-9

   $ 0.00   

7.       Other amounts treated as Available Principal Collections:

   $ 1,604,856.81   

8.       Available Principal Collections (total of items 5, 6 and 7)

   $ 205,855,732.87   

L.      Application of Available Principal Collections during Revolving Period

  

1.       Collateral Invested Amount

   $ 40,625,000.00   

2.       Required Collateral Invested Amount

   $ 40,625,000.00   

3.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

4.       Treated as Shared Principal Collections

   $ 205,855,732.87   

 

57


M.     Application of Principal Collections During Accumulation or Amortization Period

  

1.       Principal Funding Account

   $ 0.00   

2.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

3.       Distribution of Principal

   $ 0.00   

4.       Treated as Shared Principal Collections

   $ 0.00   

N.1.  Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2008-9

  

1.       Excess Spread

   $ 9,105,746.75   

2.       Excess Finance Charge Collections

   $ 0.00   

3.       Applied to fund Class A Required Amount

   $ 0.00   

4.       Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

5.       Applied to fund overdue Class B Interest

   $ 0.00   

6.       Applied to fund Class B Required Amount

   $ 88,267.12   

7.       Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

8.       Applied to Collateral Minimum Monthly Interest

   $ 201,388.28   

9.       Applied to unpaid Monthly Servicing Fee

   $ 1,041,666.67   

10.     Collateral Default Amount treated as Available Principal Collections

   $ 104,315.69   

11.     Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

12.     Deposited to Reserve Account

   $ 0.00   

13.     Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 7,670,108.99   

N.2.  Application of Excess Spread, Excess Finance Charge Collections and Funds from Series 2009-D-II Allocated to Series 2008-9

  

1.       Excess Spread

   $ 9,105,746.75   

2.       Excess Finance Charge Collections

   $ 0.00   

3.       Funds from Series 2009-D-II

   $ 0.00   

4.       Applied to fund Class A Required Amount

   $ 0.00   

5.       Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

6.       Applied to fund overdue Class B Interest

   $ 0.00   

7.       Applied to fund Class B Required Amount

   $ 88,267.12   

8.       Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

9.       Applied to Collateral Minimum Monthly Interest

   $ 201,388.28   

10.     Applied to unpaid Monthly Servicing Fee

   $ 1,041,666.67   

11.     Collateral Default Amount treated as Available Principal Collections

   $ 104,315.69   

12.     Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

13.     Deposited to Reserve Account

   $ 0.00   

14.     Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 7,670,108.99   

 

58


O.      Yield and Base Rate

  

1.       Base Rate

  

a.       Current Monthly Period

     4.0971

b.       Prior Monthly Period

     4.0362

c.       Second Prior Monthly Period

     4.2445

2.       Three Month Average Base Rate

     4.1259

3.       Series Adjusted Portfolio Yield

  

a.       Current Monthly Period

     19.0282

b.       Prior Monthly Period

     17.5612

c.       Second Prior Monthly Period

     19.5752

4.       Three Month average Series Adjusted Portfolio Yield

     18.7215

5.       Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?

     Yes   

 

59


Series 2009-2 Certificates

 

A. Investor/Transferor Allocations

   Series
Allocations
     Total Investor
Interest
    Transferors’ Interest  

Beginning Invested Amount/Transferor Amount

     2,632,538,167.38         1,515,155,000.00        1,117,383,167.38   

Beginning Adjusted Invested Amount

     N/A         1,515,155,000.00        N/A   

Floating Allocation Percentage

     N/A         57.5549     42.4451

Principal Allocation Percentage

     N/A         57.5549     42.4451

Collections of Finance Charge Receivables

     45,758,350.40         26,336,177.86        19,422,172.54   

Collections of Principal Receivables

     860,317,163.14         495,154,777.80        365,162,385.34   

Defaulted Amount

     6,759,754.89         3,890,570.91        2,869,183.98   

Ending Invested Amount / Transferor Amount

     2,620,650,797.50         1,515,155,000.00        1,105,495,797.50   

 

B. Monthly Period Funding Requirements

   Class A     Class B     Collateral Interest     Total  

Principal Funding Account Balance

     0.00        0.00        0.00        0.00   

Investment Proceeds for Monthly Period

     0.00        0.00        0.00        0.00   

Reserve Account Opening Balance

     0.00        0.00        0.00        0.00   

Reserve Account Investment Proceeds retained per Section 4.12(b)

     0.00        0.00        0.00        0.00   

Reserve Account Deposit

     0.00        0.00        0.00        0.00   

Reserve Draw Amount

     0.00        0.00        0.00        0.00   

Reserve Account Surplus (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Reserve Account Closing Balance (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Required Reserve Account Amount

     0.00        0.00        0.00        0.00   

LIBOR Determination Date

     April 11, 2013        April 11, 2013        April 11, 2013     

Coupon April 15, 2013 to May 14, 2013

     1.44870     0.89870     5.44870  

Monthly Interest Due

     1,509,062.50        68,076.53        447,179.35        2,024,318.38   

Outstanding Monthly Interest Due

     0.00        0.00        0.00        0.00   

Additional Interest Due

     0.00        0.00        0.00        0.00   

Total Interest Due

     1,509,062.50        68,076.53        447,179.35        2,024,318.38   

Investor Default Amount

     3,209,713.62        233,410.37        447,446.92        3,890,570.91   

Investor Monthly Fees Due

     2,083,333.33        151,500.00        290,425.00        2,525,258.33   

Investor Additional Amounts Due

     0.00        0.00        0.00        0.00   

Total Due

     6,802,109.45        452,986.90        1,185,051.27        8,440,147.62   

Reallocated Investor Finance Charge Collections

           27,034,393.99   

Interest and Principal Funding Investment Proceeds

           0.00   

Interest on Reserve Account

           0.00   

Series Adjusted Portfolio Yield

           18.5844

Base Rate

           3.6533

Excess Spread Percentage

           14.7266

C. Certificates - Balances and Distributions

   Class A     Class B     Collateral Interest     Total  

Beginning Certificates Balance

     1,250,000,000.00        90,900,000.00        174,255,000.00        1,515,155,000.00   

Distributions of Interest

     1,509,062.50        68,076.53        447,179.35        2,024,318.38   

Deposits to the Principal Funding Account

     0.00        0.00        0.00        0.00   

Distributions of Principal

     0.00        0.00        0.00        0.00   

Total Distributions

     1,509,062.50        68,076.53        447,179.35        2,024,318.38   

Ending Certificates Balance

     1,250,000,000.00        90,900,000.00        174,255,000.00        1,515,155,000.00   

 

60


D)     Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.

  

(1)     The total amount of the distribution:

   $ 1.21   

(2)     The amount of the distribution in respect of Class A Monthly Interest:

   $ 1.21   

(3)     The amount of the distribution in respect of Class A Outstanding Monthly Interest:

   $ 0.00   

(4)     The amount of the distribution in respect of Class A Additional Interest:

   $ 0.00   

(5)     The amount of the distribution in respect of principal of the Class A Certificates:

   $ 0.00   

E)      Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.

  

(1)     The total amount of Class A Investor Charge-Offs:

   $ 0.00   

(2)     The amount of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of Class A Investor Charge-Offs:

   $ 0.00   

(4)     The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

F)      Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.

  

(1)     The total amount of the distribution in respect of Class B Certificates:

   $ 0.75   

(2)     The amount of the distribution in respect of Class B Monthly Interest:

   $ 0.75   

(3)     The amount of the distribution in respect of Class B Outstanding Monthly Interest:

   $ 0.00   

(4)     The amount of the distribution in respect of Class B Additional Interest:

   $ 0.00   

(5)     The amount of the distribution in respect of principal of the Class B Certificates:

   $ 0.00   

 

61


G)     Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.

  

(1)     The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:

   $ 0.00   

(2)     The amount of the reductions in the Class B Invested Amount per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of such reductions in the Class B Invested Amount:

   $ 0.00   

(4)     The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

H)     Information regarding distributions on the Distribution Date to the Collateral Interest Holder.

  

(1)     The total amount distributed to the Collateral Interest Holder:

   $ 19,041,425.71   

(2)     The amount of the distribution in respect of Collateral Senior Minimum Monthly Interest:

   $ 447,179.35   

(3)     The amount of the distribution in respect of Collateral Senior Additional Interest:

   $ 0.00   

(4)     The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:

   $ 0.00   

(5)     The amount of the distribution to the Collateral Interest Holder in respect of remaining Excess Spread:

   $ 18,594,246.36   

I)       Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.

  

(1)     The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:

   $ 0.00   

(2)     The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:

   $ 0.00   

 

62


J.       Application of Reallocated Investor Finance Charge Collections

  

1.       Class A Available Funds

   $ 22,303,323.74   

a.       Class A Monthly Interest

   $ 1,509,062.50   

b.       Class A Outstanding Monthly Interest

   $ 0.00   

c.       Class A Additional Interest

   $ 0.00   

d.       Class A Investor Default Amount (treated as Available Principal Collections)

   $ 3,209,713.62   

e.       Excess Spread

   $ 17,584,547.62   

2.       Class B Available Funds

   $ 1,621,897.70   

a.       Class B Monthly Interest

   $ 68,076.53   

b.       Class B Outstanding Monthly Interest

   $ 0.00   

c.       Class B Additional Interest

   $ 0.00   

d.       Excess Spread

   $ 1,553,821.17   

3.       Collateral Available Funds

   $ 3,109,172.54   

a.       Excess Spread

   $ 3,109,172.54   

4.       Total Excess Spread

   $ 22,247,541.33   

K.      Reallocated Principal Collections

        

1.       Principal Allocation Percentage

     57.5549

2.       Series 2009-2 Allocable Principal Collections

   $ 860,317,163.14   

3.       Principal Allocation Percentage of Series 2009-2 Allocable Principal Collections

   $ 495,154,777.80   

4.       Reallocated Principal Collections Required to fund the Required Amount

   $ 0.00   

5.       Item 3 minus Item 4

   $ 495,154,777.80   

6.       Shared Principal Collections from other Series allocated to Series 2009-2

   $ 0.00   

7.       Other amounts treated as Available Principal Collections:

   $ 3,890,570.91   

8.       Available Principal Collections (total of items 5, 6 and 7)

   $ 499,045,348.71   

L.      Application of Available Principal Collections during Revolving Period

        

1.       Collateral Invested Amount

   $ 174,255,000.00   

2.       Required Collateral Invested Amount

   $ 174,255,000.00   

3.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

4.       Treated as Shared Principal Collections

   $ 499,045,348.71   

 

63


M.     Application of Principal Collections During Accumulation or Amortization Period

  

1.       Principal Funding Account

   $ 0.00   

2.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

3.       Distribution of Principal

   $ 0.00   

4.       Treated as Shared Principal Collections

   $ 0.00   

N.      Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2009-2

  

1.       Excess Spread

   $ 22,247,541.33   

2.       Excess Finance Charge Collections

   $ 0.00   

3.       Applied to fund Class A Required Amount

   $ 0.00   

4.       Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

5.       Applied to fund overdue Class B Interest

   $ 0.00   

6.       Applied to fund Class B Required Amount

   $ 233,410.37   

7.       Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

8.       Applied to Collateral Senior Minimum Monthly Interest

   $ 447,179.35   

9.       Applied to unpaid Monthly Servicing Fee

   $ 2,525,258.33   

10.     Collateral Default Amount treated as Available Principal Collections

   $ 447,446.92   

11.     Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

12.     Deposited to Reserve Account

   $ 0.00   

13.     Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 18,594,246.36   

O.      Yield and Base Rate

  

1.       Base Rate

  

a.       Current Monthly Period

     3.6533

b.       Prior Monthly Period

     3.5922

c.       Second Prior Monthly Period

     3.8006

2.       Three Month Average Base Rate

     3.6820

3.       Series Adjusted Portfolio Yield

  

a.       Current Monthly Period

     18.5844

b.       Prior Monthly Period

     17.1171

c.       Second Prior Monthly Period

     19.1313

4.       Three Month average Series Adjusted Portfolio Yield

     18.2776

5.       Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?

     Yes   

P.       Reassignment Amount

         

 Adjusted Invested Amount:

   $ 1,515,155,000.00   

 Monthly Interest:

   $ 2,983,989.63   

 Monthly Interest previously due but not paid:

   $ 0.00   

 Additional Interest:

   $ 0.00   

 Additional Interest previously due but not paid:

   $ 0.00   

 Reassignment Amount:

   $ 1,518,138,989.63   

 

64


Series 2011-1 Certificates

 

A. Investor/Transferor Allocations

   Series
Allocations
     Total Investor
Interest
    Transferors’ Interest  

Beginning Invested Amount/Transferor Amount

     2,106,027,058.96         1,212,122,000.00        893,905,058.96   

Beginning Adjusted Invested Amount

     N/A         1,212,122,000.00        N/A   

Floating Allocation Percentage

     N/A         57.5549     42.4451

Principal Allocation Percentage

     N/A         57.5549     42.4451

Collections of Finance Charge Receivables

     36,606,619.92         21,068,907.53        15,537,712.39   

Collections of Principal Receivables

     688,252,594.89         396,123,168.63        292,129,426.26   

Defaulted Amount

     5,407,794.99         3,112,451.60        2,295,343.39   

Ending Invested Amount / Transferor Amount

     2,096,517,178.75         1,212,122,000.00        884,395,178.75   

 

B. Monthly Period Funding Requirements

   Class A     Class B     Collateral Interest     Total  

Principal Funding Account Balance

     0.00        0.00        0.00        0.00   

Investment Proceeds for Monthly Period

     0.00        0.00        0.00        0.00   

Reserve Account Opening Balance

     0.00        0.00        0.00        0.00   

Reserve Account Investment Proceeds retained per Section 4.12(b)

     0.00        0.00        0.00        0.00   

Reserve Account Deposit

     0.00        0.00        0.00        0.00   

Reserve Draw Amount

     0.00        0.00        0.00        0.00   

Reserve Account Surplus (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Reserve Account Closing Balance (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Required Reserve Account Amount

     0.00        0.00        0.00        0.00   

LIBOR Determination Date

     April 11, 2013        April 11, 2013        April 11, 2013     

Coupon April 15, 2013 to May 14, 2013

     0.36870     0.89870     1.24870  

Monthly Interest Due

     307,250.00        54,466.46        81,984.44        443,700.90   

Outstanding Monthly Interest Due

     0.00        0.00        0.00        0.00   

Additional Interest Due

     0.00        0.00        0.00        0.00   

Total Interest Due

     307,250.00        54,466.46        81,984.44        443,700.90   

Investor Default Amount

     2,567,770.91        186,746.27        357,934.42        3,112,451.60   

Investor Monthly Fees Due

     1,666,666.67        121,211.67        232,325.00        2,020,203.34   

Investor Additional Amounts Due

     0.00        0.00        0.00        0.00   

Total Due

     4,541,687.58        362,424.40        672,243.86        5,576,355.84   

Reallocated Investor Finance Charge Collections

           20,451,728.39   

Interest and Principal Funding Investment Proceeds

           0.00   

Interest on Reserve Account

           0.00   

Series Adjusted Portfolio Yield

           17.4043

Base Rate

           2.4731

Excess Spread Percentage

           14.7266

C. Certificates - Balances and Distributions

   Class A     Class B     Collateral Interest     Total  

Beginning Certificates Balance

     1,000,000,000.00        72,727,000.00        139,395,000.00        1,212,122,000.00   

Distributions of Interest

     307,250.00        54,466.46        81,984.44        443,700.90   

Deposits to the Principal Funding Account

     0.00        0.00        0.00        0.00   

Distributions of Principal

     0.00        0.00        0.00        0.00   

Total Distributions

     307,250.00        54,466.46        81,984.44        443,700.90   

Ending Certificates Balance

     1,000,000,000.00        72,727,000.00        139,395,000.00        1,212,122,000.00   

 

65


D)    Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate
principal amount.

(1)     The total amount of the distribution:

   $0.31  

(2)     The amount of the distribution in respect of Class A Monthly Interest:

   $0.31  

(3)     The amount of the distribution in respect of Class A Outstanding Monthly Interest:

   $0.00  

(4)     The amount of the distribution in respect of Class A Additional Interest:

   $0.00  

(5)     The amount of the distribution in respect of principal of the Class A Certificates:

   $0.00  

E)      Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.

(1)     The total amount of Class A Investor Charge-Offs:

   $0.00  

(2)     The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:

   $0.00  

(3)     The total amount reimbursed in respect of Class A Investor Charge-Offs:

   $0.00  

(4)     The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $0.00  

(5)     The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:

   $0.00  

F)      Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.

(1)     The total amount of the distribution in respect of Class B Certificates:

   $0.75  

(2)     The amount of the distribution in respect of Class B Monthly Interest:

   $0.75  

(3)     The amount of the distribution in respect of Class B Outstanding Monthly Interest:

   $0.00  

(4)     The amount of the distribution in respect of Class B Additional Interest:

   $0.00  

(5)     The amount of the distribution in respect of principal of the Class B Certificates:

   $0.00  

 

66


G)     Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.

  

(1)     The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:

   $ 0.00   

(2)     The amount of the reductions in the Class B Invested Amount per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of such reductions in the Class B Invested Amount:

   $ 0.00   

(4)     The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

H)     Information regarding distributions on the Distribution Date to the Collateral Interest Holder.

  

(1)     The total amount distributed to the Collateral Interest Holder:

   $ 14,957,356.98   

(2)     The amount of the distribution in respect of Collateral Senior Minimum Monthly Interest:

   $ 81,984.44   

(3)     The amount of the distribution in respect of Collateral Senior Additional Interest:

   $ 0.00   

(4)     The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:

   $ 0.00   

(5)     The amount of the distribution to the Collateral Interest Holder in respect of remaining Excess Spread:

   $ 14,875,372.54   

I)       Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.

  

(1)     The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:

   $ 0.00   

(2)     The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:

   $ 0.00   

 

67


J.      Application of Reallocated Investor Finance Charge Collections

  

1.       Class A Available Funds

   $ 16,872,664.95   

a.       Class A Monthly Interest

   $ 307,250.00   

b.       Class A Outstanding Monthly Interest

   $ 0.00   

c.       Class A Additional Interest

   $ 0.00   

d.       Class A Investor Default Amount (treated as Available Principal Collections)

   $ 2,567,770.91   

e.      Excess Spread

   $ 13,997,644.04   

2.       Class B Available Funds

   $ 1,227,098.30   

a.       Class B Monthly Interest

   $ 54,466.46   

b.       Class B Outstanding Monthly Interest

   $ 0.00   

c.       Class B Additional Interest

   $ 0.00   

d.       Excess Spread

   $ 1,172,631.84   

3.       Collateral Available Funds

   $ 2,351,965.13   

a.       Excess Spread

   $ 2,351,965.13   

4.       Total Excess Spread

   $ 17,522,241.01   

K.      Reallocated Principal Collections

  

1.      Principal Allocation Percentage

     57.5549

2.      Series 2011-1 Allocable Principal Collections

   $ 688,252,594.89   

3.      Principal Allocation Percentage of Series 2011-1 Allocable Principal Collections

   $ 396,123,168.63   

4.      Reallocated Principal Collections Required to fund the Required Amount

   $ 0.00   

5.      Item 3 minus Item 4

   $ 396,123,168.63   

6.      Shared Principal Collections from other Series allocated to Series 2011-1

   $ 0.00   

7.      Other amounts treated as Available Principal Collections:

   $ 3,112,451.60   

8.      Available Principal Collections (total of items 5, 6 and 7)

   $ 399,235,620.23   

L.      Application of Available Principal Collections during Revolving Period

  

1.       Collateral Invested Amount

   $ 139,395,000.00   

2.       Required Collateral Invested Amount

   $ 139,395,000.00   

3.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

4.       Treated as Shared Principal Collections

   $ 399,235,620.23   

 

68


M.     Application of Principal Collections During Accumulation or Amortization Period

  

1.       Principal Funding Account

   $ 0.00   

2.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

3.       Distribution of Principal

   $ 0.00   

4.       Treated as Shared Principal Collections

   $ 0.00   

N.      Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2011-1

  

1.       Excess Spread

   $ 17,522,241.01   

2.       Excess Finance Charge Collections

   $ 0.00   

3.       Applied to fund Class A Required Amount

   $ 0.00   

4.       Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

5.       Applied to fund overdue Class B Interest

   $ 0.00   

6.       Applied to fund Class B Required Amount

   $ 186,746.27   

7.       Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

8.       Applied to Collateral Senior Minimum Monthly Interest

   $ 81,984.44   

9.       Applied to unpaid Monthly Servicing Fee

   $ 2,020,203.34   

10.     Collateral Default Amount treated as Available Principal Collections

   $ 357,934.42   

11.     Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

12.     Deposited to Reserve Account

   $ 0.00   

13.     Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 14,875,372.54   

O.      Yield and Base Rate

  

1.       Base Rate

  

a.       Current Monthly Period

     2.4731

b.       Prior Monthly Period

     2.4121

c.       Second Prior Monthly Period

     2.6204

2.       Three Month Average Base Rate

     2.5019

3.       Series Adjusted Portfolio Yield

  

a.       Current Monthly Period

     17.4043

b.       Prior Monthly Period

     15.9370

c.       Second Prior Monthly Period

     17.9511

4.       Three Month average Series Adjusted Portfolio Yield

     17.0975

5.       Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?

     Yes   

P.       Reassignment Amount

  

Adjusted Invested Amount:

   $ 1,212,122,000.00   

Monthly Interest:

   $ 1,009,309.91   

Monthly Interest previously due but not paid:

   $ 0.00   

Additional Interest:

   $ 0.00   

Additional Interest previously due but not paid:

   $ 0.00   

Reassignment Amount:

   $ 1,213,131,309.91   

 

69


Series 2011-2 Certificates

 

A. Investor/Transferor Allocations

   Series
Allocations
     Total Investor
Interest
    Transferors’ Interest  

Beginning Invested Amount/Transferor Amount

     2,106,027,058.96         1,212,122,000.00        893,905,058.96   

Beginning Adjusted Invested Amount

     N/A         1,212,122,000.00        N/A   

Floating Allocation Percentage

     N/A         57.5549     42.4451

Principal Allocation Percentage

     N/A         57.5549     42.4451

Collections of Finance Charge Receivables

     36,606,619.92         21,068,907.53        15,537,712.39   

Collections of Principal Receivables

     688,252,594.89         396,123,168.63        292,129,426.26   

Defaulted Amount

     5,407,794.99         3,112,451.60        2,295,343.39   

Ending Invested Amount / Transferor Amount

     2,096,517,178.75         1,212,122,000.00        884,395,178.75   

 

B. Monthly Period Funding Requirements

   Class A     Class B     Collateral Interest     Total  

Principal Funding Account Balance

     0.00        0.00        0.00        0.00   

Investment Proceeds for Monthly Period

     0.00        0.00        0.00        0.00   

Reserve Account Opening Balance

     0.00        0.00        0.00        0.00   

Reserve Account Investment Proceeds retained per Section 4.12(b)

     0.00        0.00        0.00        0.00   

Reserve Account Deposit

     0.00        0.00        0.00        0.00   

Reserve Draw Amount

     0.00        0.00        0.00        0.00   

Reserve Account Surplus (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Reserve Account Closing Balance (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Required Reserve Account Amount

     0.00        0.00        0.00        0.00   

LIBOR Determination Date

     April 11, 2013        April 11, 2013        April 11, 2013     

Coupon April 15, 2013 to May 14, 2013

     0.31870     0.84870     1.34870  

Monthly Interest Due

     265,583.33        51,436.17        88,550.02        405,569.52   

Outstanding Monthly Interest Due

     0.00        0.00        0.00        0.00   

Additional Interest Due

     0.00        0.00        0.00        0.00   

Total Interest Due

     265,583.33        51,436.17        88,550.02        405,569.52   

Investor Default Amount

     2,567,770.91        186,746.27        357,934.42        3,112,451.60   

Investor Monthly Fees Due

     1,666,666.67        121,211.67        232,325.00        2,020,203.34   

Investor Additional Amounts Due

     0.00        0.00        0.00        0.00   

Total Due

     4,500,020.91        359,394.11        678,809.44        5,538,224.46   

Reallocated Investor Finance Charge Collections

           20,413,597.01   

Interest and Principal Funding Investment Proceeds

           0.00   

Interest on Reserve Account

           0.00   

Series Adjusted Portfolio Yield

           17.3660

Base Rate

           2.4349

Excess Spread Percentage

           14.7266

C. Certificates - Balances and Distributions

   Class A     Class B     Collateral Interest     Total  

Beginning Certificates Balance

     1,000,000,000.00        72,727,000.00        139,395,000.00        1,212,122,000.00   

Distributions of Interest

     265,583.33        51,436.17        88,550.02        405,569.52   

Deposits to the Principal Funding Account

     0.00        0.00        0.00        0.00   

Distributions of Principal

     0.00        0.00        0.00        0.00   

Total Distributions

     265,583.33        51,436.17        88,550.02        405,569.52   

Ending Certificates Balance

     1,000,000,000.00        72,727,000.00        139,395,000.00        1,212,122,000.00   

 

70


D)     Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.

  

(1)     The total amount of the distribution:

   $ 0.27   

(2)     The amount of the distribution in respect of Class A Monthly Interest:

   $ 0.27   

(3)     The amount of the distribution in respect of Class A Outstanding Monthly Interest:

   $ 0.00   

(4)     The amount of the distribution in respect of Class A Additional Interest:

   $ 0.00   

(5)     The amount of the distribution in respect of principal of the Class A Certificates:

   $ 0.00   

E)      Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.

  

(1)     The total amount of Class A Investor Charge-Offs:

   $ 0.00   

(2)     The amount of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of Class A Investor Charge-Offs:

   $ 0.00   

(4)     The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

F)      Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.

  

(1)     The total amount of the distribution in respect of Class B Certificates:

   $ 0.71   

(2)     The amount of the distribution in respect of Class B Monthly Interest:

   $ 0.71   

(3)     The amount of the distribution in respect of Class B Outstanding Monthly Interest:

   $ 0.00   

(4)     The amount of the distribution in respect of Class B Additional Interest:

   $ 0.00   

(5)     The amount of the distribution in respect of principal of the Class B Certificates:

   $ 0.00   

 

71


G)     Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.

  

(1)     The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:

   $ 0.00   

(2)     The amount of the reductions in the Class B Invested Amount per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of such reductions in the Class B Invested Amount:

   $ 0.00   

(4)     The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

H)     Information regarding distributions on the Distribution Date to the Collateral Interest Holder.

  

(1)     The total amount distributed to the Collateral Interest Holder:

   $ 14,963,922.57   

(2)     The amount of the distribution in respect of Collateral Senior Minimum Monthly Interest:

   $ 88,550.02   

(3)     The amount of the distribution in respect of Collateral Senior Additional Interest:

   $ 0.00   

(4)     The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:

   $ 0.00   

(5)     The amount of the distribution to the Collateral Interest Holder in respect of remaining Excess Spread:

   $ 14,875,372.55   

I)       Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.

  

(1)     The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:

   $ 0.00   

(2)     The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:

   $ 0.00   

 

72


J.       Application of Reallocated Investor Finance Charge Collections

  

1.       Class A Available Funds

   $ 16,841,206.59   

a.       Class A Monthly Interest

   $ 265,583.33   

b.       Class A Outstanding Monthly Interest

   $ 0.00   

c.       Class A Additional Interest

   $ 0.00   

d.       Class A Investor Default Amount (treated as Available Principal Collections)

   $ 2,567,770.91   

e.       Excess Spread

   $ 14,007,852.35   

2.       Class B Available Funds

   $ 1,224,810.43   

a.       Class B Monthly Interest

   $ 51,436.17   

b.       Class B Outstanding Monthly Interest

   $ 0.00   

c.       Class B Additional Interest

   $ 0.00   

d.       Excess Spread

   $ 1,173,374.26   

3.       Collateral Available Funds

   $ 2,347,579.99   

a.       Excess Spread

   $ 2,347,579.99   

4.       Total Excess Spread

   $ 17,528,806.60   

K.      Reallocated Principal Collections

  

1.       Principal Allocation Percentage

     57.5549

2.       Series 2011-2 Allocable Principal Collections

   $ 688,252,594.89   

3.       Principal Allocation Percentage of Series 2011-2 Allocable Principal Collections

   $ 396,123,168.63   

4.       Reallocated Principal Collections Required to fund the Required Amount

   $ 0.00   

5.       Item 3 minus Item 4

   $ 396,123,168.63   

6.       Shared Principal Collections from other Series allocated to Series 2011-2

   $ 0.00   

7.       Other amounts treated as Available Principal Collections:

   $ 3,112,451.60   

8.       Available Principal Collections (total of items 5, 6 and 7)

   $ 399,235,620.23   

L.      Application of Available Principal Collections during Revolving Period

  

1.       Collateral Invested Amount

   $ 139,395,000.00   

2.       Required Collateral Invested Amount

   $ 139,395,000.00   

3.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

4.       Treated as Shared Principal Collections

   $ 399,235,620.23   

 

73


M.     Application of Principal Collections During Accumulation or Amortization Period

  

  1.     Principal Funding Account

   $ 0.00   

  2.     Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

  3.     Distribution of Principal

   $ 0.00   

  4.     Treated as Shared Principal Collections

   $ 0.00   

N.      Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2011-2

  

  1.     Excess Spread

   $ 17,528,806.60   

  2.     Excess Finance Charge Collections

   $ 0.00   

  3.     Applied to fund Class A Required Amount

   $ 0.00   

  4.     Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

  5.     Applied to fund overdue Class B Interest

   $ 0.00   

  6.     Applied to fund Class B Required Amount

   $ 186,746.27   

  7.     Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

  8.     Applied to Collateral Senior Minimum Monthly Interest

   $ 88,550.02   

  9.     Applied to unpaid Monthly Servicing Fee

   $ 2,020,203.34   

10.     Collateral Default Amount treated as Available Principal Collections

   $ 357,934.42   

11.     Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

12.     Deposited to Reserve Account

   $ 0.00   

13.     Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 14,875,372.55   

O.      Yield and Base Rate

  

1.       Base Rate

  

a.       Current Monthly Period

     2.4349

b.       Prior Monthly Period

     2.3738

c.       Second Prior Monthly Period

     2.5821

2.       Three Month Average Base Rate

     2.4636

3.       Series Adjusted Portfolio Yield

  

a.       Current Monthly Period

     17.3660

b.       Prior Monthly Period

     15.8987

c.       Second Prior Monthly Period

     17.9129

4.       Three Month average Series Adjusted Portfolio Yield

     17.0592

5.       Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?

     Yes   

P.       Reassignment Amount

  

Adjusted Invested Amount:

   $ 1,212,122,000.00   

Monthly Interest:

   $ 895,418.53   

Monthly Interest previously due but not paid:

   $ 0.00   

Additional Interest:

   $ 0.00   

Additional Interest previously due but not paid:

   $ 0.00   

Reassignment Amount:

   $ 1,213,017,418.53   

 

74


Series 2012-1 Certificates

 

A. Investor/Transferor Allocations

   Series
Allocations
     Total Investor
Interest
    Transferors’ Interest  

Beginning Invested Amount/Transferor Amount

     1,053,015,266.95         606,062,000.00        446,953,266.95   

Beginning Adjusted Invested Amount

     N/A         606,062,000.00        N/A   

Floating Allocation Percentage

     N/A         57.5549     42.4451

Principal Allocation Percentage

     N/A         57.5549     42.4451

Collections of Finance Charge Receivables

     18,303,340.16         10,534,471.14        7,768,869.02   

Collections of Principal Receivables

     344,126,865.25         198,061,911.12        146,064,954.13   

Defaulted Amount

     2,703,901.96         1,556,228.37        1,147,673.59   

Ending Invested Amount / Transferor Amount

     1,048,260,319.00         606,062,000.00        442,198,319.00   

 

B. Monthly Period Funding Requirements

   Class A     Class B     Collateral Interest     Total  

Principal Funding Account Balance

     0.00        0.00        0.00        0.00   

Investment Proceeds for Monthly Period

     0.00        0.00        0.00        0.00   

Reserve Account Opening Balance

     0.00        0.00        0.00        0.00   

Reserve Account Investment Proceeds retained per Section 4.12(b)

     0.00        0.00        0.00        0.00   

Reserve Account Deposit

     0.00        0.00        0.00        0.00   

Reserve Draw Amount

     0.00        0.00        0.00        0.00   

Reserve Account Surplus (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Reserve Account Closing Balance (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Required Reserve Account Amount

     0.00        0.00        0.00        0.00   

LIBOR Determination Date

     April 11, 2013        April 11, 2013        April 11, 2013     

Coupon April 15, 2013 to May 14, 2013

     0.46870     0.99870     1.34870  

Monthly Interest Due

     195,291.67        30,263.94        44,275.57        269,831.18   

Outstanding Monthly Interest Due

     0.00        0.00        0.00        0.00   

Additional Interest Due

     0.00        0.00        0.00        0.00   

Total Interest Due

     195,291.67        30,263.94        44,275.57        269,831.18   

Investor Default Amount

     1,283,885.45        93,374.42        178,968.50        1,556,228.37   

Investor Monthly Fees Due

     833,333.33        60,606.67        116,163.33        1,010,103.33   

Investor Additional Amounts Due

     0.00        0.00        0.00        0.00   

Total Due

     2,312,510.45        184,245.03        339,407.40        2,836,162.88   

Reallocated Investor Finance Charge Collections

           10,273,861.43   

Interest and Principal Funding Investment Proceeds

           0.00   

Interest on Reserve Account

           0.00   

Series Adjusted Portfolio Yield

           17.5006

Base Rate

           2.5695

Excess Spread Percentage

           14.7266

C. Certificates - Balances and Distributions

   Class A     Class B     Collateral Interest     Total  

Beginning Certificates Balance

     500,000,000.00        36,364,000.00        69,698,000.00        606,062,000.00   

Distributions of Interest

     195,291.67        30,263.94        44,275.57        269,831.18   

Deposits to the Principal Funding Account

     0.00        0.00        0.00        0.00   

Distributions of Principal

     0.00        0.00        0.00        0.00   

Total Distributions

     195,291.67        30,263.94        44,275.57        269,831.18   

Ending Certificates Balance

     500,000,000.00        36,364,000.00        69,698,000.00        606,062,000.00   

 

75


D)     Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.

  

(1)    The total amount of the distribution:

   $ 0.39   

(2)    The amount of the distribution in respect of Class A Monthly Interest:

   $ 0.39   

(3)    The amount of the distribution in respect of Class A Outstanding Monthly Interest:

   $ 0.00   

(4)    The amount of the distribution in respect of Class A Additional Interest:

   $ 0.00   

(5)    The amount of the distribution in respect of principal of the Class A Certificates:

   $ 0.00   

E)      Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.

  

(1)    The total amount of Class A Investor Charge-Offs:

   $ 0.00   

(2)    The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:

   $ 0.00   

(3)    The total amount reimbursed in respect of Class A Investor Charge-Offs:

   $ 0.00   

(4)    The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $ 0.00   

(5)    The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

F)      Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.

  

(1)    The total amount of the distribution in respect of Class B Certificates:

   $ 0.83   

(2)    The amount of the distribution in respect of Class B Monthly Interest:

   $ 0.83   

(3)    The amount of the distribution in respect of Class B Outstanding Monthly Interest:

   $ 0.00   

(4)    The amount of the distribution in respect of Class B Additional Interest:

   $ 0.00   

(5)    The amount of the distribution in respect of principal of the Class B Certificates:

   $ 0.00   

 

76


G)     Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.

  

(1)    The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:

   $ 0.00   

(2)    The amount of the reductions in the Class B Invested Amount per $1,000 original certificate principal amount:

   $ 0.00   

(3)    The total amount reimbursed in respect of such reductions in the Class B Invested Amount:

   $ 0.00   

(4)    The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:

   $ 0.00   

(5)    The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

H)     Information regarding distributions on the Distribution Date to the Collateral Interest Holder.

  

(1)    The total amount distributed to the Collateral Interest Holder:

   $ 7,481,974.12   

(2)    The amount of the distribution in respect of Collateral Senior Minimum Monthly Interest:

   $ 44,275.57   

(3)    The amount of the distribution in respect of Collateral Senior Additional Interest:

   $ 0.00   

(4)    The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:

   $ 0.00   

(5)    The amount of the distribution to the Collateral Interest Holder in respect of remaining Excess Spread:

   $ 7,437,698.55   

I)       Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.

  

(1)    The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:

   $ 0.00   

(2)    The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:

   $ 0.00   

 

77


J.       Application of Reallocated Investor Finance Charge Collections

  

1.      Class A Available Funds

   $ 8,475,916.19   

a.      Class A Monthly Interest

   $ 195,291.67   

b.      Class A Outstanding Monthly Interest

   $ 0.00   

c.      Class A Additional Interest

   $ 0.00   

d.      Class A Investor Default Amount (treated as Available Principal Collections)

   $ 1,283,885.45   

e.      Excess Spread

   $ 6,996,739.07   

2.      Class B Available Funds

   $ 616,436.43   

a.      Class B Monthly Interest

   $ 30,263.94   

b.      Class B Outstanding Monthly Interest

   $ 0.00   

c.      Class B Additional Interest

   $ 0.00   

d.      Excess Spread

   $ 586,172.49   

3.      Collateral Available Funds

   $ 1,181,508.81   

a.      Excess Spread

   $ 1,181,508.81   

4.      Total Excess Spread

   $ 8,764,420.37   

K.      Reallocated Principal Collections

  

1.      Principal Allocation Percentage

     57.5549

2.      Series 2012-1 Allocable Principal Collections

   $ 344,126,865.25   

3.      Principal Allocation Percentage of Series 2012-1 Allocable Principal Collections

   $ 198,061,911.12   

4.      Reallocated Principal Collections Required to fund the Required Amount

   $ 0.00   

5.      Item 3 minus Item 4

   $ 198,061,911.12   

6.      Shared Principal Collections from other Series allocated to Series 2012-1

   $ 0.00   

7.      Other amounts treated as Available Principal Collections:

   $ 1,556,228.37   

8.      Available Principal Collections (total of items 5, 6 and 7)

   $ 199,618,139.49   

L.      Application of Available Principal Collections during Revolving Period

  

1.      Collateral Invested Amount

   $ 69,698,000.00   

2.      Required Collateral Invested Amount

   $ 69,698,000.00   

3.      Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

4.      Treated as Shared Principal Collections

   $ 199,618,139.49   

 

78


M.     Application of Principal Collections During Accumulation or Amortization Period

  

1.      Principal Funding Account

   $ 0.00   

2.      Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

3.      Distribution of Principal

   $ 0.00   

4.      Treated as Shared Principal Collections

   $ 0.00   

N.      Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2012-1

  

1.      Excess Spread

   $ 8,764,420.37   

2.      Excess Finance Charge Collections

   $ 0.00   

3.      Applied to fund Class A Required Amount

   $ 0.00   

4.      Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

5.      Applied to fund overdue Class B Interest

   $ 0.00   

6.      Applied to fund Class B Required Amount

   $ 93,374.42   

7.      Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

8.      Applied to Collateral Senior Minimum Monthly Interest

   $ 44,275.57   

9.      Applied to unpaid Monthly Servicing Fee

   $ 1,010,103.33   

10.    Collateral Default Amount treated as Available Principal Collections

   $ 178,968.50   

11.    Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

12.    Deposited to Reserve Account

   $ 0.00   

13.    Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 7,437,698.55   

O.      Yield and Base Rate

  

1.      Base Rate

  

a.      Current Monthly Period

     2.5695

b.      Prior Monthly Period

     2.5084

c.      Second Prior Monthly Period

     2.7167

2.      Three Month Average Base Rate

     2.5982

3.      Series Adjusted Portfolio Yield

  

a.      Current Monthly Period

     17.5006

b.      Prior Monthly Period

     16.0333

c.      Second Prior Monthly Period

     18.0475

4.      Three Month average Series Adjusted Portfolio Yield

     17.1938

5.      Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?

     Yes   

P.       Reassignment Amount

  

Adjusted Invested Amount:

   $ 606,062,000.00   

Monthly Interest:

   $ 451,622.35   

Monthly Interest previously due but not paid:

   $ 0.00   

Additional Interest:

   $ 0.00   

Additional Interest previously due but not paid:

   $ 0.00   

Reassignment Amount:

   $ 606,513,622.35   

 

79


Series 2012-2 Certificates

 

A. Investor/Transferor Allocations

   Series
Allocations
     Total Investor
Interest
    Transferors’ Interest  

Beginning Invested Amount/Transferor Amount

     3,102,630,111.18         1,785,716,000.00        1,316,914,111.18   

Beginning Adjusted Invested Amount

     N/A         1,785,716,000.00        N/A   

Floating Allocation Percentage

     N/A         57.5549     42.4451

Principal Allocation Percentage

     N/A         57.5549     42.4451

Collections of Finance Charge Receivables

     53,929,412.13         31,039,025.17        22,890,386.96   

Collections of Principal Receivables

     1,013,943,869.30         583,574,491.84        430,369,377.46   

Defaulted Amount

     7,966,843.30         4,585,309.57        3,381,533.73   

Ending Invested Amount / Transferor Amount

     3,088,620,015.44         1,785,716,000.00        1,302,904,015.44   

 

B. Monthly Period Funding Requirements

   Class A     Class B     Collateral Interest     Total  

Principal Funding Account Balance

     0.00        0.00        0.00        0.00   

Investment Proceeds for Monthly Period

     0.00        0.00        0.00        0.00   

Reserve Account Opening Balance

     0.00        0.00        0.00        0.00   

Reserve Account Investment Proceeds retained per Section 4.12(b)

     0.00        0.00        0.00        0.00   

Reserve Account Deposit

     0.00        0.00        0.00        0.00   

Reserve Draw Amount

     0.00        0.00        0.00        0.00   

Reserve Account Surplus (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Reserve Account Closing Balance (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Required Reserve Account Amount

     0.00        0.00        0.00        0.00   

LIBOR Determination Date

     NA        NA        NA     

Coupon April 15, 2013 to May 14, 2013

     0.68000     0.99000     1.29000  

Monthly Interest Due

     850,000.00        84,710.18        119,978.60        1,054,688.78   

Outstanding Monthly Interest Due

     0.00        0.00        0.00        0.00   

Additional Interest Due

     0.00        0.00        0.00        0.00   

Total Interest Due

     850,000.00        84,710.18        119,978.60        1,054,688.78   

Investor Default Amount

     3,851,656.34        263,656.15        469,997.08        4,585,309.57   

Investor Monthly Fees Due

     2,500,000.00        171,131.67        305,061.67        2,976,193.34   

Investor Additional Amounts Due

     0.00        0.00        0.00        0.00   

Total Due

     7,201,656.34        519,498.00        895,037.35        8,616,191.69   

Reallocated Investor Finance Charge Collections

           31,082,392.78   

Interest and Principal Funding Investment Proceeds

           0.00   

Interest on Reserve Account

           0.00   

Series Adjusted Portfolio Yield

           18.0533

Base Rate

           2.7464

Excess Spread Percentage

           15.0973

C. Certificates - Balances and Distributions

   Class A     Class B     Collateral Interest     Total  

Beginning Certificates Balance

     1,500,000,000.00        102,679,000.00        183,037,000.00        1,785,716,000.00   

Distributions of Interest

     850,000.00        84,710.18        119,978.60        1,054,688.78   

Deposits to the Principal Funding Account

     0.00        0.00        0.00        0.00   

Distributions of Principal

     0.00        0.00        0.00        0.00   

Total Distributions

     850,000.00        84,710.18        119,978.60        1,054,688.78   

Ending Certificates Balance

     1,500,000,000.00        102,679,000.00        183,037,000.00        1,785,716,000.00   

 

80


D)     Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.

  

(1)     The total amount of the distribution:

   $ 0.57   

(2)     The amount of the distribution in respect of Class A Monthly Interest:

   $ 0.57   

(3)     The amount of the distribution in respect of Class A Outstanding Monthly Interest:

   $ 0.00   

(4)     The amount of the distribution in respect of Class A Additional Interest:

   $ 0.00   

(5)     The amount of the distribution in respect of principal of the Class A Certificates:

   $ 0.00   

E)      Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.

  

(1)     The total amount of Class A Investor Charge-Offs:

   $ 0.00   

(2)     The amount of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of Class A Investor Charge-Offs:

   $ 0.00   

(4)     The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

F)      Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.

  

(1)     The total amount of the distribution in respect of Class B Certificates:

   $ 0.83   

(2)     The amount of the distribution in respect of Class B Monthly Interest:

   $ 0.83   

(3)     The amount of the distribution in respect of Class B Outstanding Monthly Interest:

   $ 0.00   

(4)     The amount of the distribution in respect of Class B Additional Interest:

   $ 0.00   

(5)     The amount of the distribution in respect of principal of the Class B Certificates:

   $ 0.00   

 

81


G)     Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.

  

(1)     The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:

   $ 0.00   

(2)     The amount of the reductions in the Class B Invested Amount per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of such reductions in the Class B Invested Amount:

   $ 0.00   

(4)     The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

H)     Information regarding distributions on the Distribution Date to the Collateral Interest Holder.

  

(1)     The total amount distributed to the Collateral Interest Holder:

   $ 22,586,179.69   

(2)     The amount of the distribution in respect of Collateral Senior Minimum Monthly Interest:

   $ 119,978.60   

(3)     The amount of the distribution in respect of Collateral Senior Additional Interest:

   $ 0.00   

(4)     The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:

   $ 0.00   

(5)     The amount of the distribution to the Collateral Interest Holder in respect of remaining Excess Spread:

   $ 22,466,201.09   

I)       Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.

  

(1)     The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:

   $ 0.00   

(2)     The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:

   $ 0.00   

 

82


J.       Application of Reallocated Investor Finance Charge Collections

  

1.       Class A Available Funds

   $ 26,109,184.87   

a.       Class A Monthly Interest

   $ 850,000.00   

b.       Class A Outstanding Monthly Interest

   $ 0.00   

c.       Class A Additional Interest

   $ 0.00   

d.       Class A Investor Default Amount (treated as Available Principal Collections)

   $ 3,851,656.34   

e.       Excess Spread

   $ 21,407,528.53   

2.       Class B Available Funds

   $ 1,787,243.33   

a.       Class B Monthly Interest

   $ 84,710.18   

b.       Class B Outstanding Monthly Interest

   $ 0.00   

c.       Class B Additional Interest

   $ 0.00   

d.       Excess Spread

   $ 1,702,533.15   

3.       Collateral Available Funds

   $ 3,185,964.58   

a.       Excess Spread

   $ 3,185,964.58   

4.       Total Excess Spread

   $ 26,296,026.26   

K.      Reallocated Principal Collections

  

1.       Principal Allocation Percentage

     57.5549

2.       Series 2012-2 Allocable Principal Collections

   $ 1,013,943,869.30   

3.       Principal Allocation Percentage of Series 2012-2 Allocable Principal Collections

   $ 583,574,491.84   

4.       Reallocated Principal Collections Required to fund the Required Amount

   $ 0.00   

5.       Item 3 minus Item 4

   $ 583,574,491.84   

6.       Shared Principal Collections from other Series allocated to Series 2012-2

   $ 0.00   

7.       Other amounts treated as Available Principal Collections:

   $ 4,585,309.57   

8.       Available Principal Collections (total of items 5, 6 and 7)

   $ 588,159,801.41   

L.      Application of Available Principal Collections during Revolving Period

  

1.       Collateral Invested Amount

   $ 183,037,000.00   

2.       Required Collateral Invested Amount

   $ 183,037,000.00   

3.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

4.       Treated as Shared Principal Collections

   $ 588,159,801.41   

 

83


M.     Application of Principal Collections During Accumulation or Amortization Period

  

1.       Principal Funding Account

   $ 0.00   

2.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

3.       Distribution of Principal

   $ 0.00   

4.       Treated as Shared Principal Collections

   $ 0.00   

N.      Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2012-2

  

1.       Excess Spread

   $ 26,296,026.26   

2.       Excess Finance Charge Collections

   $ 0.00   

3.       Applied to fund Class A Required Amount

   $ 0.00   

4.       Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

5.       Applied to fund overdue Class B Interest

   $ 0.00   

6.       Applied to fund Class B Required Amount

   $ 263,656.15   

7.       Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

8.       Applied to Collateral Senior Minimum Monthly Interest

   $ 119,978.60   

9.       Applied to unpaid Monthly Servicing Fee

   $ 2,976,193.34   

10.     Collateral Default Amount treated as Available Principal Collections

   $ 469,997.08   

11.     Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

12.     Deposited to Reserve Account

   $ 0.00   

13.     Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 22,466,201.09   

O.      Yield and Base Rate

  

1.       Base Rate

  

a.       Current Monthly Period

     2.7464

b.       Prior Monthly Period

     2.6578

c.       Second Prior Monthly Period

     2.9425

2.       Three Month Average Base Rate

     2.7822

3.       Series Adjusted Portfolio Yield

  

a.       Current Monthly Period

     18.0533

b.       Prior Monthly Period

     16.5478

c.       Second Prior Monthly Period

     18.5649

4.       Three Month average Series Adjusted Portfolio Yield

     17.7220

5.       Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?

     Yes   

P.       Reassignment Amount

  

Adjusted Invested Amount:

   $ 1,785,716,000.00   

Monthly Interest:

   $ 1,414,809.99   

Monthly Interest previously due but not paid:

   $ 0.00   

Additional Interest:

   $ 0.00   

Additional Interest previously due but not paid:

   $ 0.00   

Reassignment Amount:

   $ 1,787,130,809.99   

 

84


Series 2012-3 Certificates

 

A. Investor/Transferor Allocations

   Series
Allocations
     Total Investor
Interest
    Transferors’ Interest  

Beginning Invested Amount/Transferor Amount

     2,106,027,058.96         1,212,122,000.00        893,905,058.96   

Beginning Adjusted Invested Amount

     N/A         1,212,122,000.00        N/A   

Floating Allocation Percentage

     N/A         57.5549     42.4451

Principal Allocation Percentage

     N/A         57.5549     42.4451

Collections of Finance Charge Receivables

     36,606,619.92         21,068,907.53        15,537,712.39   

Collections of Principal Receivables

     688,252,594.89         396,123,168.63        292,129,426.26   

Defaulted Amount

     5,407,794.99         3,112,451.60        2,295,343.39   

Ending Invested Amount / Transferor Amount

     2,096,517,178.75         1,212,122,000.00        884,395,178.75   

 

B. Monthly Period Funding Requirements

   Class A     Class B     Collateral Interest     Total  

Principal Funding Account Balance

     0.00        0.00        0.00        0.00   

Investment Proceeds for Monthly Period

     0.00        0.00        0.00        0.00   

Reserve Account Opening Balance

     0.00        0.00        0.00        0.00   

Reserve Account Investment Proceeds retained per Section 4.12(b)

     0.00        0.00        0.00        0.00   

Reserve Account Deposit

     0.00        0.00        0.00        0.00   

Reserve Draw Amount

     0.00        0.00        0.00        0.00   

Reserve Account Surplus (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Reserve Account Closing Balance (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Required Reserve Account Amount

     0.00        0.00        0.00        0.00   

LIBOR Determination Date

     April 11, 2013        April 11, 2013        April 11, 2013     

Coupon April 15, 2013 to May 14, 2013

     0.34870     0.69870     0.94870  

Monthly Interest Due

     290,583.33        42,345.30        62,287.69        395,216.32   

Outstanding Monthly Interest Due

     0.00        0.00        0.00        0.00   

Additional Interest Due

     0.00        0.00        0.00        0.00   

Total Interest Due

     290,583.33        42,345.30        62,287.69        395,216.32   

Investor Default Amount

     2,567,770.91        186,746.27        357,934.42        3,112,451.60   

Investor Monthly Fees Due

     1,666,666.67        121,211.67        232,325.00        2,020,203.34   

Investor Additional Amounts Due

     0.00        0.00        0.00        0.00   

Total Due

     4,525,020.91        350,303.24        652,547.11        5,527,871.26   

Reallocated Investor Finance Charge Collections

           20,403,243.81   

Interest and Principal Funding Investment Proceeds

           0.00   

Interest on Reserve Account

           0.00   

Series Adjusted Portfolio Yield

           17.3556

Base Rate

           2.4245

Excess Spread Percentage

           14.7266

C. Certificates - Balances and Distributions

   Class A     Class B     Collateral Interest     Total  

Beginning Certificates Balance

     1,000,000,000.00        72,727,000.00        139,395,000.00        1,212,122,000.00   

Distributions of Interest

     290,583.33        42,345.30        62,287.69        395,216.32   

Deposits to the Principal Funding Account

     0.00        0.00        0.00        0.00   

Distributions of Principal

     0.00        0.00        0.00        0.00   

Total Distributions

     290,583.33        42,345.30        62,287.69        395,216.32   

Ending Certificates Balance

     1,000,000,000.00        72,727,000.00        139,395,000.00        1,212,122,000.00   

 

85


D)     Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.

  

(1)     The total amount of the distribution:

   $ 0.29   

(2)     The amount of the distribution in respect of Class A Monthly Interest:

   $ 0.29   

(3)     The amount of the distribution in respect of Class A Outstanding Monthly Interest:

   $ 0.00   

(4)     The amount of the distribution in respect of Class A Additional Interest:

   $ 0.00   

(5)     The amount of the distribution in respect of principal of the Class A Certificates:

   $ 0.00   

E)      Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.

  

(1)     The total amount of Class A Investor Charge-Offs:

   $ 0.00   

(2)     The amount of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of Class A Investor Charge-Offs:

   $ 0.00   

(4)     The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

F)      Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.

  

(1)     The total amount of the distribution in respect of Class B Certificates:

   $ 0.58   

(2)     The amount of the distribution in respect of Class B Monthly Interest:

   $ 0.58   

(3)     The amount of the distribution in respect of Class B Outstanding Monthly Interest:

   $ 0.00   

(4)     The amount of the distribution in respect of Class B Additional Interest:

   $ 0.00   

(5)     The amount of the distribution in respect of principal of the Class B Certificates:

   $ 0.00   

 

86


G)     Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.

  

(1)     The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:

   $ 0.00   

(2)     The amount of the reductions in the Class B Invested Amount per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of such reductions in the Class B Invested Amount:

   $ 0.00   

(4)     The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

H)     Information regarding distributions on the Distribution Date to the Collateral Interest Holder.

  

(1)     The total amount distributed to the Collateral Interest Holder:

   $ 14,937,660.24   

(2)     The amount of the distribution in respect of Collateral Senior Minimum Monthly Interest:

   $ 62,287.69   

(3)     The amount of the distribution in respect of Collateral Senior Additional Interest:

   $ 0.00   

(4)     The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:

   $ 0.00   

(5)     The amount of the distribution to the Collateral Interest Holder in respect of remaining Excess Spread:

   $ 14,875,372.55   

I)       Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.

  

(1)     The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:

   $ 0.00   

(2)     The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:

   $ 0.00   

 

87


J.       Application of Reallocated Investor Finance Charge Collections

  

1.       Class A Available Funds

   $ 16,832,665.20   

a.       Class A Monthly Interest

   $ 290,583.33   

b.       Class A Outstanding Monthly Interest

   $ 0.00   

c.       Class A Additional Interest

   $ 0.00   

d.       Class A Investor Default Amount (treated as Available Principal Collections)

   $ 2,567,770.91   

e.       Excess Spread

   $ 13,974,310.96   

2.       Class B Available Funds

   $ 1,224,189.24   

a.       Class B Monthly Interest

   $ 42,345.30   

b.       Class B Outstanding Monthly Interest

   $ 0.00   

c.       Class B Additional Interest

   $ 0.00   

d.       Excess Spread

   $ 1,181,843.94   

3.       Collateral Available Funds

   $ 2,346,389.37   

a.       Excess Spread

   $ 2,346,389.37   

4.       Total Excess Spread

   $ 17,502,544.27   

K.      Reallocated Principal Collections

  

1.       Principal Allocation Percentage

     57.5549

2.       Series 2012-3 Allocable Principal Collections

   $ 688,252,594.89   

3.       Principal Allocation Percentage of Series 2012-3 Allocable Principal Collections

   $ 396,123,168.63   

4.       Reallocated Principal Collections Required to fund the Required Amount

   $ 0.00   

5.       Item 3 minus Item 4

   $ 396,123,168.63   

6.       Shared Principal Collections from other Series allocated to Series 2012-3

   $ 0.00   

7.       Other amounts treated as Available Principal Collections:

   $ 3,112,451.60   

8.       Available Principal Collections (total of items 5, 6 and 7)

   $ 399,235,620.23   

L.      Application of Available Principal Collections during Revolving Period

  

1.       Collateral Invested Amount

   $ 139,395,000.00   

2.       Required Collateral Invested Amount

   $ 139,395,000.00   

3.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

4.       Treated as Shared Principal Collections

   $ 399,235,620.23   

 

88


M.    Application of Principal Collections During Accumulation or Amortization Period

  

1.      Principal Funding Account

   $ 0.00   

2.      Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

3.      Distribution of Principal

   $ 0.00   

4.      Treated as Shared Principal Collections

   $ 0.00   

N.     Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2012-3

  

1.      Excess Spread

   $ 17,502,544.27   

2.      Excess Finance Charge Collections

   $ 0.00   

3.      Applied to fund Class A Required Amount

   $ 0.00   

4.      Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

5.      Applied to fund overdue Class B Interest

   $ 0.00   

6.      Applied to fund Class B Required Amount

   $ 186,746.27   

7.      Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

8.      Applied to Collateral Senior Minimum Monthly Interest

   $ 62,287.69   

9.      Applied to unpaid Monthly Servicing Fee

   $ 2,020,203.34   

10.    Collateral Default Amount treated as Available Principal Collections

   $ 357,934.42   

11.    Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

12.    Deposited to Reserve Account

   $ 0.00   

13.    Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 14,875,372.55   

O.     Yield and Base Rate

  

1.      Base Rate

  

a.      Current Monthly Period

     2.4245

b.      Prior Monthly Period

     2.3634

c.      Second Prior Monthly Period

     2.5717

2.      Three Month Average Base Rate

     2.4532

3.      Series Adjusted Portfolio Yield

  

a.      Current Monthly Period

     17.3556

b.      Prior Monthly Period

     15.8883

c.      Second Prior Monthly Period

     17.9025

4.      Three Month average Series Adjusted Portfolio Yield

     17.0488

5.      Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?

     Yes   

P.      Reassignment Amount

  

Adjusted Invested Amount:

   $ 1,212,122,000.00   

Monthly Interest:

   $ 683,038.66   

Monthly Interest previously due but not paid:

   $ 0.00   

Additional Interest:

   $ 0.00   

Additional Interest previously due but not paid:

   $ 0.00   

Reassignment Amount:

   $ 1,212,805,038.66   

 

89


Series 2012-4 Certificates

 

A. Investor/Transferor Allocations

   Series
Allocations
     Total Investor
Interest
    Transferors’ Interest  

Beginning Invested Amount/Transferor Amount

     2,053,378,206.83         1,181,820,000.00        871,558,206.83   

Beginning Adjusted Invested Amount

     N/A         1,181,820,000.00        N/A   

Floating Allocation Percentage

     N/A         57.5549     42.4451

Principal Allocation Percentage

     N/A         57.5549     42.4451

Collections of Finance Charge Receivables

     35,691,486.13         20,542,203.09        15,149,283.04   

Collections of Principal Receivables

     671,046,876.22         386,220,432.56        284,826,443.66   

Defaulted Amount

     5,272,604.80         3,034,643.00        2,237,961.80   

Ending Invested Amount / Transferor Amount

     2,044,106,065.38         1,181,820,000.00        862,286,065.38   

 

B. Monthly Period Funding Requirements

   Class A     Class B     Collateral Interest     Total  

Principal Funding Account Balance

     0.00        0.00        0.00        0.00   

Investment Proceeds for Monthly Period

     0.00        0.00        0.00        0.00   

Reserve Account Opening Balance

     0.00        0.00        0.00        0.00   

Reserve Account Investment Proceeds retained per Section 4.12(b)

     0.00        0.00        0.00        0.00   

Reserve Account Deposit

     0.00        0.00        0.00        0.00   

Reserve Draw Amount

     0.00        0.00        0.00        0.00   

Reserve Account Surplus (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Reserve Account Closing Balance (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Required Reserve Account Amount

     0.00        0.00        0.00        0.00   

LIBOR Determination Date

     April 11, 2013        April 11, 2013        April 11, 2013     

Coupon April 15, 2013 to May 14, 2013

     0.43870     0.74870     0.99870  

Monthly Interest Due

     356,443.75        44,241.93        63,932.61        464,618.29   

Outstanding Monthly Interest Due

     0.00        0.00        0.00        0.00   

Additional Interest Due

     0.00        0.00        0.00        0.00   

Total Interest Due

     356,443.75        44,241.93        63,932.61        464,618.29   

Investor Default Amount

     2,503,576.63        182,080.63        348,985.74        3,034,643.00   

Investor Monthly Fees Due

     1,625,000.00        118,183.33        226,516.67        1,969,700.00   

Investor Additional Amounts Due

     0.00        0.00        0.00        0.00   

Total Due

     4,485,020.38        344,505.89        639,435.02        5,468,961.29   

Reallocated Investor Finance Charge Collections

           19,972,462.42   

Interest and Principal Funding Investment Proceeds

           0.00   

Interest on Reserve Account

           0.00   

Series Adjusted Portfolio Yield

           17.4372

Base Rate

           2.5061

Excess Spread Percentage

           14.7266

C. Certificates - Balances and Distributions

   Class A     Class B     Collateral Interest     Total  

Beginning Certificates Balance

     975,000,000.00        70,910,000.00        135,910,000.00        1,181,820,000.00   

Distributions of Interest

     356,443.75        44,241.93        63,932.61        464,618.29   

Deposits to the Principal Funding Account

     0.00        0.00        0.00        0.00   

Distributions of Principal

     0.00        0.00        0.00        0.00   

Total Distributions

     356,443.75        44,241.93        63,932.61        464,618.29   

Ending Certificates Balance

     975,000,000.00        70,910,000.00        135,910,000.00        1,181,820,000.00   

 

90


D)     Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.

  

(1)    The total amount of the distribution:

   $ 0.37   

(2)    The amount of the distribution in respect of Class A Monthly Interest:

   $ 0.37   

(3)    The amount of the distribution in respect of Class A Outstanding Monthly Interest:

   $ 0.00   

(4)    The amount of the distribution in respect of Class A Additional Interest:

   $ 0.00   

(5)    The amount of the distribution in respect of principal of the Class A Certificates:

   $ 0.00   

E)      Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.

  

(1)    The total amount of Class A Investor Charge-Offs:

   $ 0.00   

(2)    The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:

   $ 0.00   

(3)    The total amount reimbursed in respect of Class A Investor Charge-Offs:

   $ 0.00   

(4)    The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $ 0.00   

(5)    The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

F)      Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.

  

(1)    The total amount of the distribution in respect of Class B Certificates:

   $ 0.62   

(2)    The amount of the distribution in respect of Class B Monthly Interest:

   $ 0.62   

(3)    The amount of the distribution in respect of Class B Outstanding Monthly Interest:

   $ 0.00   

(4)    The amount of the distribution in respect of Class B Additional Interest:

   $ 0.00   

(5)    The amount of the distribution in respect of principal of the Class B Certificates:

   $ 0.00   

 

91


G)     Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.

  

(1)    The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:

   $ 0.00   

(2)    The amount of the reductions in the Class B Invested Amount per $1,000 original certificate principal amount:

   $ 0.00   

(3)    The total amount reimbursed in respect of such reductions in the Class B Invested Amount:

   $ 0.00   

(4)    The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:

   $ 0.00   

(5)    The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

H)     Information regarding distributions on the Distribution Date to the Collateral Interest Holder.

  

(1)    The total amount distributed to the Collateral Interest Holder:

   $ 14,567,433.74   

(2)    The amount of the distribution in respect of Collateral Senior Minimum Monthly Interest:

   $ 63,932.61   

(3)    The amount of the distribution in respect of Collateral Senior Additional Interest:

   $ 0.00   

(4)    The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:

   $ 0.00   

(5)    The amount of the distribution to the Collateral Interest Holder in respect of remaining Excess Spread:

   $ 14,503,501.13   

I)       Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.

  

(1)    The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:

   $ 0.00   

(2)    The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:

   $ 0.00   

 

92


J.       Application of Reallocated Investor Finance Charge Collections

  

1.      Class A Available Funds

   $ 16,477,256.15   

a.      Class A Monthly Interest

   $ 356,443.75   

b.      Class A Outstanding Monthly Interest

   $ 0.00   

c.      Class A Additional Interest

   $ 0.00   

d.      Class A Investor Default Amount (treated as Available Principal Collections)

   $ 2,503,576.63   

e.      Excess Spread

   $ 13,617,235.77   

2.      Class B Available Funds

   $ 1,198,361.26   

a.      Class B Monthly Interest

   $ 44,241.93   

b.      Class B Outstanding Monthly Interest

   $ 0.00   

c.      Class B Additional Interest

   $ 0.00   

d.      Excess Spread

   $ 1,154,119.33   

3.      Collateral Available Funds

   $ 2,296,845.01   

a.      Excess Spread

   $ 2,296,845.01   

4.      Total Excess Spread

   $ 17,068,200.11   

K.      Reallocated Principal Collections

  

1.      Principal Allocation Percentage

     57.5549

2.      Series 2012-4 Allocable Principal Collections

   $ 671,046,876.22   

3.      Principal Allocation Percentage of Series 2012-4 Allocable Principal Collections

   $ 386,220,432.56   

4.      Reallocated Principal Collections Required to fund the Required Amount

   $ 0.00   

5.      Item 3 minus Item 4

   $ 386,220,432.56   

6.      Shared Principal Collections from other Series allocated to Series 2012-4

   $ 0.00   

7.      Other amounts treated as Available Principal Collections:

   $ 3,034,643.00   

8.      Available Principal Collections (total of items 5, 6 and 7)

   $ 389,255,075.56   

L.      Application of Available Principal Collections during Revolving Period

  

1.      Collateral Invested Amount

   $ 135,910,000.00   

2.      Required Collateral Invested Amount

   $ 135,910,000.00   

3.      Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

4.      Treated as Shared Principal Collections

   $ 389,255,075.56   

 

93


M.     Application of Principal Collections During Accumulation or Amortization Period

  

1.      Principal Funding Account

   $ 0.00   

2.      Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

3.      Distribution of Principal

   $ 0.00   

4.      Treated as Shared Principal Collections

   $ 0.00   

N.      Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2012-4

  

1.      Excess Spread

   $ 17,068,200.11   

2.      Excess Finance Charge Collections

   $ 0.00   

3.      Applied to fund Class A Required Amount

   $ 0.00   

4.      Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

5.      Applied to fund overdue Class B Interest

   $ 0.00   

6.      Applied to fund Class B Required Amount

   $ 182,080.63   

7.      Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

8.      Applied to Collateral Senior Minimum Monthly Interest

   $ 63,932.61   

9.      Applied to unpaid Monthly Servicing Fee

   $ 1,969,700.00   

10.    Collateral Default Amount treated as Available Principal Collections

   $ 348,985.74   

11.    Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

12.    Deposited to Reserve Account

   $ 0.00   

13.    Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 14,503,501.13   

O.      Yield and Base Rate

  

1.      Base Rate

  

a.      Current Monthly Period

     2.5061

b.      Prior Monthly Period

     2.4450

c.      Second Prior Monthly Period

     2.6533

2.      Three Month Average Base Rate

     2.5348

3.      Series Adjusted Portfolio Yield

  

a.      Current Monthly Period

     17.4372

b.      Prior Monthly Period

     15.9699

c.      Second Prior Monthly Period

     17.9841

4.      Three Month average Series Adjusted Portfolio Yield

     17.1304

5.      Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?

     Yes   

P.       Reassignment Amount

  

Adjusted Invested Amount:

   $ 1,181,820,000.00   

Monthly Interest:

   $ 769,857.77   

Monthly Interest previously due but not paid:

   $ 0.00   

Additional Interest:

   $ 0.00   

Additional Interest previously due but not paid:

   $ 0.00   

Reassignment Amount:

   $ 1,182,589,857.77   

 

94


Series 2012-5 Certificates

 

A. Investor/Transferor Allocations

   Series
Allocations
     Total Investor
Interest
    Transferors’ Interest  

Beginning Invested Amount/Transferor Amount

     1,241,053,086.96         714,287,000.00        526,766,086.96   

Beginning Adjusted Invested Amount

     N/A         714,287,000.00        N/A   

Floating Allocation Percentage

     N/A         57.5549     42.4451

Principal Allocation Percentage

     N/A         57.5549     42.4451

Collections of Finance Charge Receivables

     21,571,782.97         12,415,620.50        9,156,162.47   

Collections of Principal Receivables

     405,577,888.40         233,429,992.81        172,147,895.59   

Defaulted Amount

     3,186,740.00         1,834,125.37        1,352,614.63   

Ending Invested Amount / Transferor Amount

     1,235,449,043.95         714,287,000.00        521,162,043.95   

 

B. Monthly Period Funding Requirements

   Class A     Class B     Collateral Interest     Total  

Principal Funding Account Balance

     0.00        0.00        0.00        0.00   

Investment Proceeds for Monthly Period

     0.00        0.00        0.00        0.00   

Reserve Account Opening Balance

     0.00        0.00        0.00        0.00   

Reserve Account Investment Proceeds retained per Section 4.12(b)

     0.00        0.00        0.00        0.00   

Reserve Account Deposit

     0.00        0.00        0.00        0.00   

Reserve Draw Amount

     0.00        0.00        0.00        0.00   

Reserve Account Surplus (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Reserve Account Closing Balance (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Required Reserve Account Amount

     0.00        0.00        0.00        0.00   

LIBOR Determination Date

     November 08, 2012        November 08, 2012        November 08, 2012     

Coupon April 15, 2013 to May 14, 2013

     0.59000     0.77000     1.07000  

Monthly Interest Due

     295,000.00        26,354.53        39,806.68        361,161.21   

Outstanding Monthly Interest Due

     0.00        0.00        0.00        0.00   

Additional Interest Due

     0.00        0.00        0.00        0.00   

Total Interest Due

     295,000.00        26,354.53        39,806.68        361,161.21   

Investor Default Amount

     1,540,662.53        105,463.49        187,999.35        1,834,125.37   

Investor Monthly Fees Due

     1,000,000.00        68,453.33        122,025.00        1,190,478.33   

Investor Additional Amounts Due

     0.00        0.00        0.00        0.00   

Total Due

     2,835,662.53        200,271.35        349,831.03        3,385,764.91   

Reallocated Investor Finance Charge Collections

           12,372,252.89   

Interest and Principal Funding Investment Proceeds

           0.00   

Interest on Reserve Account

           0.00   

Series Adjusted Portfolio Yield

           17.9499

Base Rate

           2.6430

Excess Spread Percentage

           15.0973

C. Certificates - Balances and Distributions

   Class A     Class B     Collateral Interest     Total  

Beginning Certificates Balance

     600,000,000.00        41,072,000.00        73,215,000.00        714,287,000.00   

Distributions of Interest

     295,000.00        26,354.53        39,806.68        361,161.21   

Deposits to the Principal Funding Account

     0.00        0.00        0.00        0.00   

Distributions of Principal

     0.00        0.00        0.00        0.00   

Total Distributions

     295,000.00        26,354.53        39,806.68        361,161.21   

Ending Certificates Balance

     600,000,000.00        41,072,000.00        73,215,000.00        714,287,000.00   

 

95


D)     Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.

  

(1)    The total amount of the distribution:

   $ 0.49   

(2)    The amount of the distribution in respect of Class A Monthly Interest:

   $ 0.49   

(3)    The amount of the distribution in respect of Class A Outstanding Monthly Interest:

   $ 0.00   

(4)    The amount of the distribution in respect of Class A Additional Interest:

   $ 0.00   

(5)    The amount of the distribution in respect of principal of the Class A Certificates:

   $ 0.00   

E)      Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.

  

(1)    The total amount of Class A Investor Charge-Offs:

   $ 0.00   

(2)    The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:

   $ 0.00   

(3)    The total amount reimbursed in respect of Class A Investor Charge-Offs:

   $ 0.00   

(4)    The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $ 0.00   

(5)    The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

F)      Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.

  

(1)    The total amount of the distribution in respect of Class B Certificates:

   $ 0.64   

(2)    The amount of the distribution in respect of Class B Monthly Interest:

   $ 0.64   

(3)    The amount of the distribution in respect of Class B Outstanding Monthly Interest:

   $ 0.00   

(4)    The amount of the distribution in respect of Class B Additional Interest:

   $ 0.00   

(5)    The amount of the distribution in respect of principal of the Class B Certificates:

   $ 0.00   

 

96


G)      Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.

  

(1)     The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:

   $ 0.00   

(2)     The amount of the reductions in the Class B Invested Amount per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of such reductions in the Class B Invested Amount:

   $ 0.00   

(4)     The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

H)     Information regarding distributions on the Distribution Date to the Collateral Interest Holder.

  

(1)     The total amount distributed to the Collateral Interest Holder:

   $ 9,026,294.66   

(2)     The amount of the distribution in respect of Collateral Senior Minimum Monthly Interest:

   $ 39,806.68   

(3)     The amount of the distribution in respect of Collateral Senior Additional Interest:

   $ 0.00   

(4)     The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:

   $ 0.00   

(5)     The amount of the distribution to the Collateral Interest Holder in respect of remaining Excess Spread:

   $ 8,986,487.98   

I)       Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.

  

(1)     The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:

   $ 0.00   

(2)     The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:

   $ 0.00   

 

97


J.       Application of Reallocated Investor Finance Charge Collections  

1.       Class A Available Funds

   $ 10,392,673.72   

a.      Class A Monthly Interest

   $ 295,000.00   

b.      Class A Outstanding Monthly Interest

   $ 0.00   

c.      Class A Additional Interest

   $ 0.00   

d.      Class A Investor Default Amount (treated as Available Principal Collections)

   $ 1,540,662.53   

e.      Excess Spread

   $ 8,557,011.19   

2.       Class B Available Funds

   $ 711,413.16   

a.      Class B Monthly Interest

   $ 26,354.53   

b.      Class B Outstanding Monthly Interest

   $ 0.00   

c.      Class B Additional Interest

   $ 0.00   

d.      Excess Spread

   $ 685,058.63   

3.       Collateral Available Funds

   $ 1,268,166.01   

a.       Excess Spread

   $ 1,268,166.01   

4.       Total Excess Spread

   $ 10,510,235.83   

K.      Reallocated Principal Collections

  

1.       Principal Allocation Percentage

     57.5549

2.       Series 2012-5 Allocable Principal Collections

   $ 405,577,888.40   

3.       Principal Allocation Percentage of Series 2012-5 Allocable Principal Collections

   $ 233,429,992.81   

4.       Reallocated Principal Collections Required to fund the Required Amount

   $ 0.00   

5.       Item 3 minus Item 4

   $ 233,429,992.81   

6.       Shared Principal Collections from other Series allocated to Series 2012-5

   $ 0.00   

7.       Other amounts treated as Available Principal Collections:

   $ 1,834,125.37   

8.       Available Principal Collections (total of items 5, 6 and 7)

   $ 235,264,118.18   

L.      Application of Available Principal Collections during Revolving Period

  

1.       Collateral Invested Amount

   $ 73,215,000.00   

2.       Required Collateral Invested Amount

   $ 73,215,000.00   

3.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

4.       Treated as Shared Principal Collections

   $ 235,264,118.18   

 

98


M.     Application of Principal Collections During Accumulation or Amortization Period  

1.      Principal Funding Account

   $ 0.00   

2.      Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

3.      Distribution of Principal

   $ 0.00   

4.      Treated as Shared Principal Collections

   $ 0.00   
N.      Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2012-5  

1.      Excess Spread

   $ 10,510,235.83   

2.      Excess Finance Charge Collections

   $ 0.00   

3.      Applied to fund Class A Required Amount

   $ 0.00   

4.      Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

5.      Applied to fund overdue Class B Interest

   $ 0.00   

6.      Applied to fund Class B Required Amount

   $ 105,463.49   

7.      Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

8.      Applied to Collateral Senior Minimum Monthly Interest

   $ 39,806.68   

9.      Applied to unpaid Monthly Servicing Fee

   $ 1,190,478.33   

10.     Collateral Default Amount treated as Available Principal Collections

   $ 187,999.35   

11.     Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

12.     Deposited to Reserve Account

   $ 0.00   

13.     Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 8,986,487.98   
O.      Yield and Base Rate  

1.       Base Rate

  

a.       Current Monthly Period

     2.6430

b.       Prior Monthly Period

     2.5577

c.       Second Prior Monthly Period

     2.8317

2.       Three Month Average Base Rate

     2.6775

3.       Series Adjusted Portfolio Yield

  

a.       Current Monthly Period

     17.9499

b.       Prior Monthly Period

     16.4477

c.       Second Prior Monthly Period

     18.4541

4.       Three Month average Series Adjusted Portfolio Yield

     17.6172

5.       Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?

     Yes   

P.       Reassignment Amount

  

Adjusted Invested Amount:

   $ 714,287,000.00   

Monthly Interest:

   $ 472,353.91   

Monthly Interest previously due but not paid:

   $ 0.00   

Additional Interest:

   $ 0.00   

Additional Interest previously due but not paid:

   $ 0.00   

Reassignment Amount:

   $ 714,759,353.91   

 

99


Series 2012-A Certificates

 

A. Investor/Transferor Allocations

   Series
Allocations
     Total Investor
Interest
    Transferors’ Interest  

Beginning Invested Amount/Transferor Amount

     0.00         0.00        0.00   

Beginning Adjusted Invested Amount

     N/A         0.00        N/A   

Floating Allocation Percentage

     N/A         0.0000     100.0000

Principal Allocation Percentage

     N/A         0.0000     100.0000

Collections of Finance Charge Receivables

     0.00         0.00        0.00   

Collections of Principal Receivables

     0.00         0.00        0.00   

Defaulted Amount

     0.00         0.00        0.00   

Ending Invested Amount / Transferor Amount

     0.00         0.00        0.00   

 

B. Monthly Period Funding Requirements

   Class A     Class B     Collateral Interest     Total  

Principal Funding Account Balance

     0.00        0.00        0.00        0.00   

Investment Proceeds for Monthly Period

     0.00        0.00        0.00        0.00   

Reserve Account Opening Balance

     0.00        0.00        0.00        0.00   

Reserve Account Investment Proceeds retained per Section 4.12(b)

     0.00        0.00        0.00        0.00   

Reserve Account Deposit

     0.00        0.00        0.00        0.00   

Reserve Draw Amount

     0.00        0.00        0.00        0.00   

Reserve Account Surplus (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Reserve Account Closing Balance (after giving effect to any principal distributions on the related Distribution Date)

     0.00        0.00        0.00        0.00   

Required Reserve Account Amount

     0.00        0.00        0.00        0.00   

LIBOR Determination Date

     October 03, 2012        October 03, 2012        October 03, 2012     

Coupon April 15, 2013 to May 14, 2013

     0.00000     3.94870     1.34870  

Monthly Interest Due

     0.00        0.00        0.00        0.00   

Outstanding Monthly Interest Due

     0.00        0.00        0.00        0.00   

Additional Interest Due

     0.00        0.00        0.00        0.00   

Total Interest Due

     0.00        0.00        0.00        0.00   

Investor Default Amount

     0.00        0.00        0.00        0.00   

Investor Monthly Fees Due

     0.00        0.00        0.00        0.00   

Investor Additional Amounts Due

     0.00        0.00        0.00        0.00   

Total Due

     0.00        0.00        0.00        0.00   

Reallocated Investor Finance Charge Collections

           0.00   

Interest and Principal Funding Investment Proceeds

           0.00   

Interest on Reserve Account

           0.00   

Series Adjusted Portfolio Yield

           0.0000

Base Rate

           0.0000

Excess Spread Percentage

           0.0000

C. Certificates - Balances and Distributions

   Class A     Class B     Collateral Interest     Total  

Beginning Certificates Balance

     0.00        0.00        0.00        0.00   

Distributions of Interest

     0.00        0.00        0.00        0.00   

Deposits to the Principal Funding Account

     0.00        0.00        0.00        0.00   

Distributions of Principal

     0.00        0.00        0.00        0.00   

Total Distributions

     0.00        0.00        0.00        0.00   

Ending Certificates Balance

     0.00        0.00        0.00        0.00   

 

100


D)      Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.

  

(1)     The total amount of the distribution:

   $ 0.00   

(2)     The amount of the distribution in respect of Class A Monthly Interest:

   $ 0.00   

(3)     The amount of the distribution in respect of Class A Outstanding Monthly Interest:

   $ 0.00   

(4)     The amount of the distribution in respect of Class A Additional Interest:

   $ 0.00   

(5)     The amount of the distribution in respect of principal of the Class A Certificates:

   $ 0.00   

E)      Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.

  

(1)     The total amount of Class A Investor Charge-Offs:

   $ 0.00   

(2)     The amount of Class A Investor Charge- Offs per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of Class A Investor Charge-Offs:

   $ 0.00   

(4)     The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

F)      Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.

  

(1)     The total amount of the distribution in respect of Class B Certificates:

   $ —     

(2)     The amount of the distribution in respect of Class B Monthly Interest:

   $ —     

(3)     The amount of the distribution in respect of Class B Outstanding Monthly Interest:

   $ 0.00   

(4)     The amount of the distribution in respect of Class B Additional Interest:

   $ 0.00   

(5)     The amount of the distribution in respect of principal of the Class B Certificates:

   $ 0.00   

 

101


G)      Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.

  

(1)     The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount:

   $ 0.00   

(2)     The amount of the reductions in the Class B Invested Amount per $1,000 original certificate principal amount:

   $ 0.00   

(3)     The total amount reimbursed in respect of such reductions in the Class B Invested Amount:

   $ 0.00   

(4)     The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:

   $ 0.00   

(5)     The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:

   $ 0.00   

H)     Information regarding distributions on the Distribution Date to the Collateral Interest Holder.

  

(1)     The total amount distributed to the Collateral Interest Holder:

   $ 0.00   

(2)     The amount of the distribution in respect of Collateral Senior Minimum Monthly Interest:

   $ 0.00   

(3)     The amount of the distribution in respect of Collateral Senior Additional Interest:

   $ 0.00   

(4)     The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:

   $ 0.00   

(5)     The amount of the distribution to the Collateral Interest Holder in respect of remaining Excess Spread:

   $ 0.00   

I)       Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.

  

(1)     The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount:

   $ 0.00   

(2)     The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:

   $ 0.00   

 

102


J.       Application of Reallocated Investor Finance Charge Collections

1.       Class A Available Funds

   $0.00

a.       Class A Monthly Interest

   $0.00

b.       Class A Outstanding Monthly Interest

   $0.00

c.       Class A Additional Interest

   $0.00

d.       Class A Investor Default Amount (treated as Available Principal Collections)

   $0.00

e.       Excess Spread

   $0.00

2.       Class B Available Funds

   $0.00

a.       Class B Monthly Interest

   $0.00

b.       Class B Outstanding Monthly Interest

   $0.00

c.       Class B Additional Interest

   $0.00

d.       Excess Spread

   $0.00

3.       Collateral Available Funds

   $0.00

a.       Excess Spread

   $0.00

4.       Total Excess Spread

   $0.00

K.      Reallocated Principal Collections

  

1.       Principal Allocation Percentage

   0.0000%

2.       Series 2012-A Allocable Principal Collections

   $0.00

3.       Principal Allocation Percentage of Series 2012-A Allocable Principal Collections

   $0.00

4.       Reallocated Principal Collections Required to fund the Required Amount

   $0.00

5.       Item 3 minus Item 4

   $0.00

6.       Shared Principal Collections from other Series allocated to Series 2012-A

   $0.00

7.       Other amounts treated as Available Principal Collections:

   $0.00

8.       Available Principal Collections (total of items 5, 6 and 7)

   $0.00

L.      Application of Available Principal Collections during Revolving Period

  

1.       Collateral Invested Amount

   $0.00

2.       Required Collateral Invested Amount

   $0.00

3.       Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $0.00

4.       Treated as Shared Principal Collections

   $0.00

 

103


M.     Application of Principal Collections During Accumulation or Amortization Period

  

1.      Principal Funding Account

   $ 0.00   

2.      Excess of Collateral Invested Amount over Required Collateral Invested Amount

   $ 0.00   

3.      Distribution of Principal

   $ 0.00   

4.      Treated as Shared Principal Collections

   $ 0.00   

N.      Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2012-A

  

1.      Excess Spread

   $ 0.00   

2.      Excess Finance Charge Collections

   $ 0.00   

3.      Applied to fund Class A Required Amount

   $ 0.00   

4.      Class A Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

5.      Applied to fund overdue Class B Interest

   $ 0.00   

6.      Applied to fund Class B Required Amount

   $ 0.00   

7.      Reduction of Class B Invested Amount treated as Available Principal Collections

   $ 0.00   

8.      Applied to Collateral Senior Minimum Monthly Interest

   $ 0.00   

9.      Applied to unpaid Monthly Servicing Fee

   $ 0.00   

10.    Collateral Default Amount treated as Available Principal Collections

   $ 0.00   

11.    Reduction of Collateral Invested Amount treated as Available Principal Collections

   $ 0.00   

12.    Deposited to Reserve Account

   $ 0.00   

13.    Remaining Excess Spread distributed to Collateral Interest Holder(s)

   $ 0.00   

O.      Yield and Base Rate

  

1.      Base Rate

  

a.       Current Monthly Period

     0.0000

b.       Prior Monthly Period

     0.0000

c.       Second Prior Monthly Period

     0.0000

3.      Series Adjusted Portfolio Yield

  

a.       Current Monthly Period

     0.0000

b.       Prior Monthly Period

     0.0000

c.       Second Prior Monthly Period

     0.0000

5.      Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?

     No   

P.       Reassignment Amount

  

Adjusted Invested Amount:

   $ 0.00   

Monthly Interest:

   $ 0.00   

Monthly Interest previously due but not paid:

   $ 0.00   

Additional Interest:

   $ 0.00   

Additional Interest previously due but not paid:

   $ 0.00   

Reassignment Amount:

   $ 0.00   

 

104


Series 2009-D-II Certificates

 

A. Investor/Transferor Allocations

   Series
Allocations
     Total Investor
Interest
    Transferors’ Interest  

Beginning Invested Amount/Transferor Amount

     786,794,718.15         452,839,000.00        333,955,718.15   

Beginning Adjusted Invested Amount

     N/A         452,839,000.00        N/A   

Floating Allocation Percentage

     N/A         57.5549     42.4451

Principal Allocation Percentage

     N/A         57.5549     42.4451

Collections of Finance Charge Receivables

     13,675,937.87         7,871,173.87        5,804,764.00   

Collections of Principal Receivables

     257,125,616.74         147,988,419.94        109,137,196.80   

Defaulted Amount

     2,020,308.58         1,162,786.81        857,521.77   

Ending Invested Amount / Transferor Amount

     783,241,903.63         452,839,000.00        330,402,903.63   

 

B. Monthly Period Funding Requirements

   Total  

LIBOR Determination Date

     April 11, 2013   

Coupon April 15, 2013 May 14, 2013

     20.19870

Monthly Interest Due

     7,622,299.26   

Outstanding Monthly Interest Due

     0.00   

Additional Interest Due

     0.00   

Total Interest Due

     7,622,299.26   

Investor Default Amount

     1,162,786.81   

Investor Monthly Fees Due

     754,731.67   

Investor Additional Amounts Due

     0.00   

Total Due

     9,539,817.74   

Investor Finance Charge Collections

     7,871,173.87   

 

C. Certificates - Balances and Distributions

   Total  

Beginning Certificates Balance

     452,839,000.00   

Distributions of Interest

     7,622,299.26   

Distributions of Principal

     0.00   

Total Distributions

     7,622,299.26   

Ending Certificates Balance

     452,839,000.00   

 

D.      Information regarding distributions on the Distribution Date in respect of the Series 2009-D-II Certificates per $1,000 certificate principal amount

  

(1)     The total amount of the distribution

   $ 16.83   

(2)     The amount of the distribution in respect of Monthly Interest

   $ 16.83   

(3)     The amount of the distribution in respect of Outstanding Monthly Interest

   $ 0.00   

(4)     The amount of the distribution in respect of Additional Interest

   $ 0.00   

(5)     The amount of the distribution in respect of principal of the Series 2009-D-II Certificates

   $ 0.00   

 

105


E.      Amount of reductions in the Scheduled Partial Amortization Amounts pursuant to clauses (c) and (d) of the definition of Scheduled Partial Amortization Amount on such Distribution Date

  

(1)     The amount of the aggregate reductions in the Scheduled Partial Amortization Amounts per $1,000 certificate principal amount

   $ 0.00   

(2)     The aggregate amount reimbursed in respect of such reductions in the Scheduled Partial Amortization Amounts per $1,000 certificate principal amount

   $ 0.00   

(3)     The amount, if any, by which the outstanding principal balance of the Series 2009-D-II Certificates exceeds the Invested Amount after giving effect to all transactions on such Distribution Date

   $ 0.00   

F. Scheduled Partial Amortization Amounts/ Series 2009-D-II Invested Amount

 

Series    Beginning
Scheduled Partial
Amortization
Amount
     Distributions of
Principal
     Pro rata share
of Investor
Charge-Offs
     Reallocated
Principal
Collections
Applied
     Reimbursements     

Ending

Scheduled Partial
Amortization
Amount

 

2004-2

     17,500,000.00         0.00         0.00         0.00         0.00         17,500,000.00   

2005-2

     26,250,000.00         0.00         0.00         0.00         0.00         26,250,000.00   

2007-2

     33,334,000.00         0.00         0.00         0.00         0.00         33,334,000.00   

2008-2

     90,908,000.00         0.00         0.00         0.00         0.00         90,908,000.00   

2008-4

     40,529,000.00         0.00         0.00         0.00         0.00         40,529,000.00   

2008-5

     60,606,000.00         0.00         0.00         0.00         0.00         60,606,000.00   

2008-6

     102,273,000.00         0.00         0.00         0.00         0.00         102,273,000.00   

2008-7

     39,772,000.00         0.00         0.00         0.00         0.00         39,772,000.00   

2008-9

     41,667,000.00         0.00         0.00         0.00         0.00         41,667,000.00   

Series 2009-D-II

                 

Invested Amount

     452,839,000.00         0.00         0.00         0.00         0.00         452,839,000.00   

(aggregate of Scheduled Partial Amortization Amounts)

  

 

G.      Application of Investor Finance Charge Collections.

  

1.       Available Funds

   $ 7,871,173.87   

a.       Monthly Servicing Fee

   $ 0.00   

b.       Aggregate application of Referenced Series Shortfall Coverage Amounts

   $ 0.00   

c.       Investor Default Amount (treated as Available Principal Collections):

   $ 1,162,786.81   

d.       Monthly Interest

   $ 6,708,387.06   

e.       Outstanding Monthly Interest

   $ 0.00   

f.        Additional Interest

   $ 0.00   

2.       Excess Spread:

   $ 0.00   

 

106


H.      Reallocated Principal Collections.

  

1.       Principal Allocation Percentage:

     57.5549

2.       Series 2009-D-II Allocable Principal Collections:

   $ 257,125,616.74   

3.       Principal Allocation Percentage of Series 2009-D-II Allocable Principal Collections:

   $ 147,988,419.94   

4.       Aggregate amount of Reallocated Principal Collections required to fund the Referenced Series Adjusted Shortfalls

   $ 0.00   

5.       Item 3 minus item 4:

   $ 147,988,419.94   

6.       Shared Principal Collections from other Series allocated to Series 2009-D-II:

   $ 0.00   

7.       Other amounts treated as Available Principal Collections:

   $ 1,162,786.81   

8.       Available Principal Collections (total of items 5., 6. & 7.):

   $ 149,151,206.75   

I.        Application of Available Principal Collections during Revolving Period.

  

1.       Treated as Shared Principal Collections:

   $ 149,151,206.75   

J.       Application of Principal Collections During Scheduled Partial Amortization Period or Early Amortization Period.

  

1.       Retained during an Early Amortization Period

   $ 0.00   

2.       Aggregate application to fund Scheduled Partial Amortization Amounts during a Scheduled Partial Amortization Period

   $ 0.00   

3.       Treated as Shared Principal Collections:

   $ 0.00   

K.      Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2009-D-II.

  

1.       Excess Spread:

   $ 0.00   

2.       Excess Finance Charge Collections:

   $ 1,668,643.87   

3.       Applied to fund Required Amount:

   $ 913,912.20   

4.       Investor Charge-Offs treated as Available Principal Collections:

   $ 0.00   

5.       Applied to unpaid Monthly Servicing Fee:

   $ 754,731.67   

6.       Aggregate reimbursement of reductions of Scheduled Partial Amortization Amounts treated as Available Principal Collections

   $ 0.00   

7.       Applied to fund Series 2009-D-I Shortfall

   $ 0.00   

8.       Remaining Excess Spread distributed to Holders of Transferor Certificate

   $ 0.00   

 

107


L. Amounts and Applications Relating to the Referenced Series

 

Series    Referenced
Series
Adjusted
Shortfall
     Referenced
Series
Shortfall
Coverage
Amount
     Allocable
portion of
Reallocated
Principal
Collections
     Applied to fund
Scheduled
Partial
Amortization
Amount
     Reimbursements of
reductions of
Scheduled Partial
Amortization
Amount
 

2004-2

     0.00         0.00         0.00         0.00         0.00   

2005-2

     0.00         0.00         0.00         0.00         0.00   

2007-2

     0.00         0.00         0.00         0.00         0.00   

2008-2

     0.00         0.00         0.00         0.00         0.00   

2008-4

     0.00         0.00         0.00         0.00         0.00   

2008-5

     0.00         0.00         0.00         0.00         0.00   

2008-6

     0.00         0.00         0.00         0.00         0.00   

2008-7

     0.00         0.00         0.00         0.00         0.00   

2008-9

     0.00         0.00         0.00         0.00         0.00   

Aggregate for all Referenced Series

     0.00         0.00         0.00         0.00         0.00   

 

M.     Application of Funds from Series 2009-D-I:

  

1.       Applied under Section 4.05

  

a.       Shortfalls in Monthly Servicing Fee

   $ 0.00   

b.       Shortfalls in Investor Default Amount (treated as Available Principal Collections)

   $ 0.00   

c.      Shortfalls in Monthly Interest, Outstanding Monthly Interest and Additional Interest

   $ 0.00   

2.      Applied under Section 4.07

  

a.      Shortfalls in Investor Charge-Offs treated as Available Principal Collections

   $ 0.00   

b.      Shortfalls in unpaid Monthly Servicing Fee

   $ 0.00   

c.      Shortfalls in reimbursements of reductions of Scheduled Partial Amortization Amounts treated as Available Principal Collections

   $ 0.00   

 

108