EX-99.3 4 jdot-20240617xex99d3.htm EX-99.3

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John Deere Owner Trust 2024

EXHIBIT 99.3

Servicer's Certificate

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Check for Error

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$341,500,000 Class A-1 5.52100% Asset Backed Notes due March 17, 2025

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$300,000,000 Class A-2A 5.19% Asset Backed Notes due February 16, 2027

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$155,250,000 Class A-2B Floating Rate Asset Backed Notes due February 16, 2027

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$455,250,000 Class A-3 4.96% Asset Backed Notes due November 15, 2028

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$98,580,000 Class A-4 4.91% Asset Backed Notes due February 18, 2031

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$34,635,510 Overcollateralization

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Scheduled Payment Date (30/360)

15-Jun-24

Actual Payment Date (A/360)

17-Jun-24

Collection Period Begin Date

29-Apr-24

Collection Period End Date

26-May-24

Days in accrual period (30/360)

30

Days in accrual period (ACT/360)

33

One-Month SOFR as of the SOFR Determination Date:

5.32371%

Class A-2B interest rate:

5.69371%

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(1)

Total Distribution Amount:

$43,053,555.49

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(a)

Total cash receipts during the month:

$38,449,757.64

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(b)

Administrative repurchases during the month:

$4,542,199.32

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(c)

Investment earnings on cash accounts:

$61,598.53

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(d)

Payment from Deere to buy-back the deal:

$0.00

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(2)

(a)

Administration Fee:

$100.00

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(b)

Administration Fee Shortfall:

$0.00

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(3)

Noteholders' Interest Distributable Amount deposited into Note Distribution Account:

$5,489,066.03

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Noteholders' Interest Carryover Shortfall:

$0.00

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(a)

(i)

Noteholders' Interest Distributable Amount applicable to Class A-1 Notes:

$1,096,223.43

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(ii)

Noteholders' Interest Carryover Shortfall applicable to Class A-1 Notes:

$0.00

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(b)

(i)

Noteholders' Interest Distributable Amount applicable to Class A-2A Notes:

$1,297,500.00

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(ii)

Noteholders' Interest Carryover Shortfall applicable to Class A-2A Notes:

$0.00

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(c)

(i)

Noteholders' Interest Distributable Amount applicable to Class A-2B Notes:

$810,286.10

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(ii)

Noteholders' Interest Carryover Shortfall applicable to Class A-2B Notes:

$0.00

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(d)

(i)

Noteholders' Interest Distributable Amount applicable to Class A-3 Notes:

$1,881,700.00

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(ii)

Noteholders' Interest Carryover Shortfall applicable to Class A-3 Notes:

$0.00

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(e)

(i)

Noteholders' Interest Distributable Amount applicable to Class A-4 Notes:

$403,356.50

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(ii)

Noteholders' Interest Carryover Shortfall applicable to Class A-4 Notes:

$0.00

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(4)

Noteholders' Principal Distribution Amount deposited into Note Distribution Account:

$33,524,792.52

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Noteholders' Principal Carryover Shortfall:

$0.00

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(a)

(i)

Class A-1 Noteholders' Monthly Principal Distributable Amount:

$33,524,792.52

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(ii)

% of Principal Distribution Amount applicable to Class A-1 Noteholders:

100.00%

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(iii)

Class A-1 Noteholders' Principal Carryover Shortfall:

$0.00

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(iv)

Class A-1 Noteholders' Principal Distributable Amount:

$33,524,792.52

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(b)

(i)

Class A-2A Noteholders' Monthly Principal Distributable Amount:

$0.00

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(ii)

% of Principal Distribution Amount applicable to Class A-2A Noteholders:

0.00%

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(iii)

Class A-2A Noteholders' Principal Carryover Shortfall:

$0.00

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(iv)

Class A-2A Noteholders' Principal Distributable Amount:

$0.00

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(c)

(i)

Class A-2B Noteholders' Monthly Principal Distributable Amount:

$0.00

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(ii)

% of Principal Distribution Amount applicable to Class A-2B Noteholders:

0.00%

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(iii)

Class A-2B Noteholders' Principal Carryover Shortfall:

$0.00

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(iv)

Class A-2B Noteholders' Principal Distributable Amount:

$0.00

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(d)

(i)

Class A-3 Noteholders' Monthly Principal Distributable Amount:

$0.00

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(ii)

% of Principal Distribution Amount applicable to Class A-3 Noteholders:

0.00%

1

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(iii)

Class A-3 Noteholders' Principal Carryover Shortfall:

$0.00

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(iv)

Class A-3 Noteholders' Principal Distributable Amount:

$0.00

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(e)

(i)

Class A-4 Noteholders' Monthly Principal Distributable Amount:

$0.00

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(ii)

% of Principal Distribution Amount applicable to Class A-4 Noteholders:

0.00%

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(iii)

Class A-4 Noteholders' Principal Carryover Shortfall:

$0.00

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(iv)

Class A-4 Noteholders' Principal Distributable Amount:

$0.00

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(5)

Noteholders' Distributable Amount:

$39,013,858.55

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(6)

Reserve Account balance:

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(a)

Beginning balance:

$13,852,155.10

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(b)

Amount to increase the amount on deposit in the Reserve Account to the Specified Reserve Account Balance:

$0.00

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(c)

Amount to be withdrawn from the Reserve Account and deposited into Note Distribution Account (5.05(e)):

$0.00

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(i)

Interest Amount included above:

$0.00

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(ii)

Principal Amount included above:

$0.00

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(d)

Amount to be withdrawn from the Reserve Account and Deposited into Certificateholder Account (5.05(c)):

$0.00

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(e)

Ending Balance (after giving effect to all distributions):

$13,852,155.10

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(f)

Specified Reserve Account Balance:

$13,852,155.10

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(7)

Servicing Fee:

$1,102,624.05

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(a)

Amount of Servicing Fee earned:

$1,102,624.05

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(b)

Amount of Servicing Fee paid:

$1,102,624.05

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(c)

Amount of Servicing Fee Shortfall:

$0.00

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(8)

Amount paid to Indenture Trustee:

$0.00

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(9)

Amount paid to Owner Trustee:

$0.00

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(10)

Amount paid to Asset Representations Reviewer

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(a)

Section 5.04 (iii) - Asset Representations Review Fees

$0.00

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(b)

Section 5.04 (ix) - Asset Representations Review Fees

$0.00

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(11)

Amount Paid to Certificateholder:

$2,936,972.89

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(12)

(a)

Pool Balance (excluding Accrued Interest) as of close of business on the last day of the related Collection Period:

$1,284,479,197.38

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(b)

Note Value as of the end of the related Collection Period:

$1,226,796,423.95

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(c)

Amount of Overcollateralization (Note value less aggregate principal amount of Notes):

$34,635,510.00

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(d)

Number of Accounts at the end of the related Collection Period:

16,014

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(13)

After giving effect to all distributions on such Payment Date:

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(a)

(i)

Outstanding Principal Balance of Class A-1 Notes:

$183,080,914.33

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(ii)

Class A-1 Note Pool Factor:

0.5361081

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(b)

(i)

Outstanding Principal Balance of Class A-2A Notes:

$300,000,000.00

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(ii)

Class A-2A Note Pool Factor:

1.0000000

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(c)

(i)

Outstanding Principal Balance of Class A-2B Notes:

$155,250,000.00

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(ii)

Class A-2B Note Pool Factor:

1.0000000

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(d)

(i)

Outstanding Principal Balance of Class A-3 Notes:

$455,250,000.00

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(ii)

Class A-3 Note Pool Factor:

1.0000000

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(e)

(i)

Outstanding Principal Balance of Class A-4 Notes:

$98,580,000.00

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(ii)

Class A-4 Note Pool Factor:

1.0000000

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(14)

(a)

Number of Receivables that were the subject of a repurchase demand in the related Collection Period:

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(i)

Aggregate Principal Balance of Receivables:

$0.00

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(ii)

% of Pool Balance:

0.00%

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(b)

Number of Purchased Receivables in the related Collection Period:

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(i)

Aggregate Principal Balance of Purchased Receivables:

$4,207,040.74

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(ii)

% of Pool Balance:

0.32%

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(c)

Number of Receivables pending repurchase (within cure period) in the related Collection Period:

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2

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(i)

Aggregate Principal Balance of Receivables:

$0.00

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(ii)

% of Pool Balance:

0.00%

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(d)

Number of repurchase demands in dispute in the related Collection Period:

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(i)

Aggregate Principal Balance of Receivables:

$0.00

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(ii)

% of Pool Balance:

0.00%

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(e)

Number of repurchase demands withdrawn in the related Collection Period:

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(i)

Aggregate Principal Balance of related Receivables:

$0.00

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(ii)

% of Pool Balance:

0.00%

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(f)

Number of repurchase demands rejected in the related Collection Period:

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(i)

Aggregate Principal Balance of related Receivables:

$0.00

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(ii)

% of Pool Balance:

0.00%

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(15)

(i)

Aggregate amount of net losses for the collection period:

$4,126.27

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(ii)

Cumulative amount of net losses:

$93,435.74

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(iii)

Cumulative net loss as a percent of Initial Pool Balance (Cumulative Net Loss Ratio):

0.01%

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(16)

(i)

Payoff Amount of Receivables 60 days or more past due as a % of the Pool Balance:

0.56%

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(17)

Collateral Composition:

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(a)

Number of loans at the beginning of the period:

16,261

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(b)

Number of loans at the end of the period:

16,014

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(c)

Weighted average remaining term on receivables:

42.67

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(d)

Prepayment amount - monthly:

$11,357,834.16

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(e)

Prepayment amount - life-to-date:

$66,567,027.41

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(f)

Weighted average APR of the pool assets:

4.69%

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(g)

Pool Factor:

0.88

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(18)

(a)

Delinquency Trigger:

14.60%

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(b)

Payoff Amount of Receivables 60 or more days past due as a percent of ending Pool Balance:

0.56%

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(c)

Delinquency Trigger Occurred: Y/N

N

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