EX-99.1

EX-99.1 2 d213540dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

GM Financial Automobile Leasing Trust 2015-1

3.02% Exchange Note

Class A-1 0.38000% Asset Backed Notes

Class A-2 1.10% Asset Backed Notes

Class A-3 1.53% Asset Backed Notes

Class A-4 1.73% Asset Backed Notes

Class B 2.14% Asset Backed Notes

Class C 2.50% Asset Backed Notes

Class D 3.01% Asset Backed Notes

Servicer’s Certificate


Beginning of Period:			05/01/16
End of Period:			05/31/16
Number of days in Interest Period (Actual/360):			31
Number of days in Collection Period:			31
Report Due Date:			06/16/16
Distribution Date:			06/20/16
Transaction Month:			15

2015-1

Original Agg.

Designated Pool

Units

Start Date

Closing Date

Securitization Value

45,265

02/02/2015

03/25/2015

1,097,016,305

Total

45,265

1,097,016,305


RECONCILIATION OF 2015-1 DESIGNATED POOL AGGREGATE SECURITIZATION VALUE

{1} Beginning of period Aggregate Securitization Value									{1}		$	861,438,682

{2} Reduction in Agg. Securitization Value due to payments						{2}			10,018,635
{3} Reduction in Agg. Securitization Value due to Defaulted Leases						{3}			1,382,122
{4} Reduction in Agg. Securitization Value due to early terminations, dealer buyouts, cancellations, repurchases						{4}			7,391,753
{5} Other adjustments						{5}			0
{6} Total change in Agg. Securitization Value									{6}			18,792,510

{7} End of period Aggregate Securitization Value									{7}		$	842,646,172

{8} Pool Factor									{8}			76.812548	%

RECONCILIATION OF 2015-1 EXCHANGE NOTE
{9} Original Exchange Note Balance									{9}		$	1,083,000,000

{10} Beginning of period Exchange Note Balance									{10}		$	847,422,377

{11} Exchange Note Principal Payment Amount									{11}			18,792,510

{12} End of period Exchange Note Balance									{12}		$	828,629,867

{13} Note Pool Factor									{13}			76.512453	%

RECONCILIATION OF THE ASSET BACKED NOTES

		Class A-1			Class A-2			Class A-3			Class A-4
{14} Original Note Balance	{14}	$	129,000,000		$	329,360,000		$	369,360,000		$	72,930,000

{15} Beginning of period Note Balance	{15}	$	0		$	189,869,429		$	369,360,000		$	72,930,000

{16} Noteholders’ Principal Distributable Amount	{16}		0			18,792,510			0			0
{17} Noteholders’ Accelerated Principal Amount	{17}		0			0			0			0
{18} Aggregate Principal Parity Amount	{18}		0			0			0			0
{19} Matured Principal Shortfall	{19}		0			0			0			0

{20} End of period Note Balance	{20}	$	0		$	171,076,919		$	369,360,000		$	72,930,000

{21} Note Pool Factor	{21}		0.000000	%		51.942227	%		100.000000	%		100.000000	%

		Class B			Class C			Class D			TOTAL
{22} Original Note Balance	{22}	$	42,240,000		$	38,940,000		$	30,170,000		$	1,012,000,000

{23} Beginning of period Note Balance	{23}	$	42,240,000		$	38,940,000		$	30,170,000		$	743,509,429

{24} Noteholders’ Principal Distributable Amount	{24}		0			0			0			18,792,510
{25} Noteholders’ Accelerated Principal Amount	{25}		0			0			0			0
{26} Aggregate Principal Parity Amount	{26}		0			0			0			0
{27} Matured Principal Shortfall	{27}		0			0			0			0

{28} End of period Note Balance	{28}	$	42,240,000		$	38,940,000		$	30,170,000		$	724,716,919

{29} Note Pool Factor	{29}		100.000000	%		100.000000	%		100.000000	%		71.612344	%


EXCHANGE NOTE MONTHLY PRINCIPAL PAYMENT AND INTEREST CALCULATIONS

Principal payment calculation:
{30} Beginning of period Designated Pool Balance																		{30}		$	861,438,682

{31} Ending Designated Pool Balance																{31}		842,646,172
{32} Unpaid prior Exchange Note Principal Payment Amount																{32}		0
{33} Sum of {31} + {32}																		{33}			842,646,172

{34} Exchange Note Principal Payment Amount {30}—{33}																		{34}		$	18,792,510

Interest calculation:

	Beg Note Balance		Interest Carryover		Interest Rate			Days					Days Basis		Interest
{35}	$	847,422,377	$	0		3.02	%		30					30/360	$	2,132,680

RECONCILIATION OF EXCHANGE NOTE COLLECTION ACCOUNT

Additions:
{36} 2015-1 Designated Pool Collections (net of Liquidation Proceeds and fees)																{36}	$	14,894,491
{37} Net Liquidation Proceeds collected during period																{37}		9,742,098
{38} Investment Earnings																{38}		5,617
{39} Investment Earnings—transferred to Indenture Note Collection Account																{39}		(5,617	)
{40} Deposit from Servicer (LKE, Pull Ahead Program)																{40}		0

{41} Total Additions:																		{41}			24,636,589

Distributions:
{42} To the Servicer, Designated Pool Servicing Fee																{42}		717,866
{43} To the 2015-1 Exchange Noteholder, the Exchange Note Interest Payment Amount																{43}		2,132,680
{44} To the 2015-1 Exchange Noteholder, the Exchange Note Principal Payment Amount																{44}		18,792,510
{45} To the 2015-1 Exchange Noteholder, any funds available to pay obligations pursuant to Indenture Section 8.3 (a)(i) through (xvii)																{45}		0
{46} To the Lending Facility Pool, all remaining funds to be applied as Collections on Residual Pool																{46}		2,993,533

{47} Total Distributions:																		{47}		$	24,636,589

NOTEHOLDERS’ MONTHLY PRINCIPAL PAYMENT AND INTEREST CALCULATIONS

Noteholders’ Principal Distributable calculation:
{48} Beginning Agg. Securitization Value														{48}	$	861,438,682
{49} Ending Agg. Securitization Value														{49}		842,646,172
{50} Total change in Agg. Securitization Value {48}—{49}																{50}		18,792,510

{51} Indenture Section 5.4 collections following acceleration of the Notes																{51}		0

{52} Principal Distributable Amount {50} + {51}																		{52}			18,792,510

{53} Noteholders’ Principal Carryover Amount																		{53}			0

{54} Noteholders’ Principal Distributable Amount {52} + {53}																		{54}		$	18,792,510

Noteholders’ Interest Distributable calculation:

	Class		Beg Note Balance		Interest Carryover			Interest Rate			Days		Days Basis		Interest
{55}		Class A-1	$	0	$	0			0.38000	%		31		Actual days/360	$	0
{56}		Class A-2	$	189,869,429		0			1.10	%		30		30/360		174,047
{57}		Class A-3	$	369,360,000		0			1.53	%		30		30/360		470,934
{58}		Class A-4	$	72,930,000		0			1.73	%		30		30/360		105,141
{59}		Class B	$	42,240,000		0			2.14	%		30		30/360		75,328
{60}		Class C	$	38,940,000		0			2.50	%		30		30/360		81,125
{61}		Class D	$	30,170,000		0			3.01	%		30		30/360		75,676

RECONCILIATION OF INDENTURE COLLECTION ACCOUNT

Available Funds:
{62} 2015-1 Exchange Note Collections																{62}	$	20,925,190
{63} Investment Earnings																{63}		0
{64} Investment Earnings—transferred from Exchange Note Collection Account																{64}		5,617
{65} Investment Earnings—and amounts released from Reserve Account																{65}		1,173
{66} Optional Purchase Price																{66}		0
{67} Indenture Section 5.4 disposition of Collateral																{67}		0
{68} Reserve Account Withdrawal Amount																{68}		0

{69} Total Available Funds:																		{69}			20,931,980

Distributions:
{70} To the Successor Servicer, unpaid transition expenses, pro rata																{70}		0
{71} To the Indenture Trustee, any accrued and unpaid fees & expenses, pro rata																{71}		417
{72} To the Issuer Owner Trustee, any accrued and unpaid fees & expenses, pro rata																{72}		208
{73} Class A-1 Noteholders’ Interest Distributable Amount pari passu																{73}		0
{74} Class A-2 Noteholders’ Interest Distributable Amount pari passu																{74}		174,047
{75} Class A-3 Noteholders’ Interest Distributable Amount pari passu																{75}		470,934
{76} Class A-4 Noteholders’ Interest Distributable Amount pari passu																{76}		105,141
{77} Class A Noteholders’ Principal Parity Amount or Matured Principal Shortfall																{77}		0
{78} Class B Noteholders’ Interest Distributable Amount																{78}		75,328
{79} Class B Noteholders’ Principal Parity Amount or Matured Principal Shortfall																{79}		0
{80} Class C Noteholders’ Interest Distributable Amount																{80}		81,125
{81} Class C Noteholders’ Principal Parity Amount or Matured Principal Shortfall																{81}		0
{82} Class D Noteholders’ Interest Distributable Amount																{82}		75,676
{83} Class D Noteholders’ Principal Parity Amount or Matured Principal Shortfall																{83}		0
{84} Noteholders’ Principal Distributable Amount																{84}		18,792,510
{85} To the Reserve Account, the Reserve Amount Required Amount																{85}		0
{86} To the Noteholders, the Accelerated Principal Amount (as calculated below)																{86}		0
{87} To the Successor Servicer, any amounts in excess of the caps set forth, pro rata																{87}		0
{88} To the Indenture Trustee, any amounts in excess of the caps set forth, pro rata																{88}		0
{89} To the Issuer Owner Trustee, any amounts in excess of the caps set forth, pro rata																{89}		0
{90} To the Issuer Trust Certificateholders, the aggregate amount remaining																{90}		1,156,594

{91} Total Distributions:																		{91}		$	20,931,980

PRINCIPAL PARITY AMOUNT CALCULATION

(X)

(Y)

(I)

(II)

Cumulative

Aggregate

Excess of

Total Available Funds

Lesser of

Class

Note Balance

Securitization Value

(X)—(Y)

in Indenture Collection Account

(I) or (II)

{92}

Class A

632,159,429

842,646,172

20,181,233

{93}

Class B

674,399,429

842,646,172

20,105,905

{94}

Class C

713,339,429

842,646,172

20,024,780

{95}

Class D

743,509,429

842,646,172

19,949,104

ACCELERATED PRINCIPAL AMOUNT CALCULATION

{96} Excess Total Available Funds

{96}

1,156,594

{97} Beginning Note Balance

{97}

743,509,429

{98} Principal payments through Indenture Section 8.3 (i) through (xvii)

{98}

18,792,510

{99} Pro-Forma Note Balance

{99}

724,716,919

{100} Ending Aggregate Securitization Value

{100}

842,646,172

{101} 10.75% of Aggregate Securitization Value as of Cutoff Date ($117,929,253)

{101}

117,929,253

{102} Required Pro Forma Note Balance {100}—{101}

{102}

724,716,919

{103} Excess of Pro Forma Balance minus Required Pro Forma Balance {99}—{102}

{103}

{104} Lesser of Excess Total Available Funds and Excess of Pro Forma Note Balance

{104}

OVERCOLLATERALIZATION CALCULATIONS

Exchange Note:

{105} Ending Aggregate Securitization Value

{105}

842,646,172

{106} End of Period Note Balance

{106}

828,629,867

{107} Overcollateralization

{107}

14,016,305

{108} Overcollateralization %

{108}

1.66

Asset Backed Notes:

{109} Ending Aggregate Securitization Value

{109}

842,646,172

{110} End of Period Note Balance

{110}

724,716,919

{111} Overcollateralization

{111}

117,929,253

{112} Overcollateralization %

{112}

14.00

RECONCILIATION OF 2015-1 CASH RESERVE ACCOUNT

{113} Specified Reserve Balance

{113}

5,485,082

{114} Beginning of Period Reserve Account balance

{114}

5,485,082

{115} Investment Earnings

{115}

1,173

{116} From the Indenture Collection Account, the Reserve Account Required Amount

{116}

{117} To the Indenture Collection Account, the Reserve Account Withdrawal Amount

{117}

{118} Total Reserve balance available:

{118}

5,486,255

{119} Specified Reserve Balance

{119}

5,485,082

{120} Release Excess Cash to Indenture Collection Available Funds

{120}

1,173

{121} End of period Reserve Account balance

{121}

5,485,082

EVENTS OF DEFAULT AND ACCELERATION OF MATURITY OF NOTE

{122} With respect to the Program Documents, I, Randal L. Willis, do hereby certify that no Event of Default has occurred.

{122}

Yes

{123} With respect to the Program Documents, I, Randal L. Willis, do hereby certify that an Acceleration of Maturity has not occurred.

{123}

Yes


By:		/s/ Randal L. Willis
Name:		Randal L. Willis
Title:		Vice President, Securitization & Conduit Reporting-Treasury
Date:		June 15, 2016

GM Financial

GMALT 2015-1

Supplemental Monthly Data

May 31, 2016


	Aggregate Securitization Value			Residual Value
Beginning of Period	$	861,438,682		$	663,817,663
Change		(18,792,510	)		(7,332,363	)

End of Period	$	842,646,172		$	656,485,300

Residual Value as % of Agg. Securitization Value					77.91	%


Delinquency

	Number of Leases			Agg. Securitization Value			Percentage⁽¹⁾
Leases with scheduled payment delinquent
0—30 days		40,192			832,530,871			98.80	%
31—60 days		399			8,146,679			0.97	%
61—90 days		77			1,586,044			0.19	%
91—120 days		19			382,578			0.05	%

Total		40,687			842,646,172			100.00	%


Lease Terminations

	Current Period						Cumulative
	Number of Leases			Agg. Securitization Value			Number of Leases			Agg. Securitization Value
Retained vehicles by lessee
Early terminations		150			3,656,391			1,861			47,376,215
Standard terminations		38			567,117			424			6,337,460

Total retained by lessee		188			4,223,508			2,285			53,713,675
Returned Vehicles
Early terminations		152			2,302,578			1,227			17,046,484
Standard terminations		65			865,668			280			3,347,970

Total returned to dealer		217			3,168,246			1,507			20,394,454
Charged off leases / Repossessed vehicles		68			1,382,122			776			16,345,827
Repurchases		0			0			10			241,180
Other		0			0			0			0

Total terminations		473			8,773,876			4,578			90,695,136

Net Credit (Gain) Loss

				Current Period			Cumulative
Agg. Securitized Value of early term defaults					1,382,122			16,345,827
less: Sales proceeds					1,005,441			11,901,590
less: Excess wear and excess mileage received					0			0
less: Other amounts received					128,258			847,366

Net Credit (Gain) Loss					248,423			3,596,871

Residual (Gain) Loss on Returned Vehicles
Agg. Securitized Value of returned vehicles sold by Servicer					3,168,476			20,062,345
add: Reimbursement of outstanding residual advance					N/A			N/A
less: Sales proceeds					3,400,072			21,336,656
less: Excess wear and excess mileage received					5,478			27,260
less: Other recovery amounts					50,037			340,450

Residual (Gain) Loss					(287,111	)		(1,642,021	)

				Current Period			Prev. Month
Prepay Speed					0.4635	%		0.5611	%

Return Rate					51.4218	%		55.9880	%

(1)	Percentages may not add to 100% due to rounding.