0000950123-11-059127.txt : 20110615 0000950123-11-059127.hdr.sgml : 20110615 20110615113639 ACCESSION NUMBER: 0000950123-11-059127 CONFORMED SUBMISSION TYPE: 10-D PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20110525 FILED AS OF DATE: 20110615 DATE AS OF CHANGE: 20110615 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN EXPRESS RECEIVABLES FINANCING CORP II CENTRAL INDEX KEY: 0000949349 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 133854638 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-D SEC ACT: 1934 Act SEC FILE NUMBER: 000-21424-04 FILM NUMBER: 11912313 BUSINESS ADDRESS: STREET 1: WORLD FINANCIAL CENTER STREET 2: AMERICAN EXPRESS TOWER 200 VESEY ST CITY: NEW YORK STATE: NY ZIP: 10285 BUSINESS PHONE: 2126402000 MAIL ADDRESS: STREET 1: WORLD FINANCIAL CENTER STREET 2: AMERICAN EXPRESS TOWER 200 VESEY ST CITY: NEW YORK STATE: NY ZIP: 10285 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST CENTRAL INDEX KEY: 0001003509 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-D SEC ACT: 1934 Act SEC FILE NUMBER: 000-20787-07 FILM NUMBER: 11912311 BUSINESS ADDRESS: STREET 1: 6985 UNION PARK CENTER CITY: MIDVALE STATE: UT ZIP: 84047 BUSINESS PHONE: 8015655000 MAIL ADDRESS: STREET 1: 4315 SOUTH 2700 WEST CITY: SALT LAKE CITY STATE: UT ZIP: 84184 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN EXPRESS RECEIVABLES FINANCING CORP III LLC CENTRAL INDEX KEY: 0001283434 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 10-D SEC ACT: 1934 Act SEC FILE NUMBER: 333-113579-02 FILM NUMBER: 11912312 BUSINESS ADDRESS: STREET 1: 4135 SOUTH 2700 WEST CITY: SALT LAKE CITY STATE: UT ZIP: 84184 BUSINESS PHONE: 8015655023 MAIL ADDRESS: STREET 1: 4135 SOUTH 2700 WEST CITY: SALT LAKE CITY STATE: UT ZIP: 84184 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN EXPRESS RECEIVABLES FINANCING CORP IV LLC CENTRAL INDEX KEY: 0001283435 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 10-D SEC ACT: 1934 Act SEC FILE NUMBER: 333-113579-01 FILM NUMBER: 11912314 BUSINESS ADDRESS: STREET 1: 4135 SOUTH 2700 WEST CITY: SALT LAKE CITY STATE: UT ZIP: 84184 BUSINESS PHONE: 8015655023 MAIL ADDRESS: STREET 1: 4135 SOUTH 2700 WEST CITY: SALT LAKE CITY STATE: UT ZIP: 84184 10-D 1 y91637e10vd.htm FORM 10-D e10vd
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-D
ASSET-BACKED ISSUER
DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the monthly distribution period from April 25, 2011 to May 25, 2011
Commission File Number of issuing entity:
333-155765-03
AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST
(Exact name of issuing entity as specified in its charter)
         
Commission File Number
of Depositor: 		  Commission File Number
of Depositor: 		  Commission File Number
of Depositor:
         
333-155765-02   333-155765   333-155765-01
         
American Express
Receivables Financing
Corporation II 		  American Express
Receivables Financing
Corporation III LLC 		  American Express
Receivables Financing
Corporation IV LLC
         
(Exact name of depositor
as specified in its charter) 		  (Exact name of depositor
as specified in its charter) 		  (Exact name of depositor
as specified in its charter)
         
13-3854638   20-0942395   20-0942445
         
(I.R.S. Employer
Identification Number
of depositor) 		  (I.R.S. Employer
Identification Number
of depositor) 		  (I.R.S. Employer
Identification Number
of depositor)
     
American Express
Centurion Bank 		  American Express
Bank, FSB
     
(Exact name of sponsor as
specified in its charter) 		  (Exact name of sponsor as
specified in its charter)
     
Delaware   Not Applicable
     
State or other jurisdiction of
incorporation or organization of
the issuing entity 		  (I.R.S. Employer
Identification Number of
the issuing entity
     
c/o The Bank of New York Mellon
101 Barclay Street, New York 		  10286
     
(Address of the principal executive
offices of the issuing entity) 		  (Zip Code)
(Telephone number, including area code)
Not Applicable
(Former name, former address, if changed since last report)
Each class of Series A and Series B Asset Backed Certificates to which this report on Form 10-D relates is subject to the reporting requirements of Section 15(d) of the Securities Exchange Act of 1934.
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ Noo
 
 

 

 

PART I — DISTRIUTION INFORMATION
Item 1.   Distribution and Pool Performance Information.
  The information required by Item 1121 of Regulation AB is contained in the distribution report attached hereto as Exhibit 99.
PART II — OTHER INFORMATION
Item 9.   Exhibits.
     
Exhibit No.   Description
99
   Monthly Servicer's Certificate for the Monthly Period ending May 25, 2011 and the related payment dates.

 

 

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: June 15, 2011
         
  American Express Receivables Financing
Corporation II,
Depositor
 		  
  By:   /s/ Anderson Y. Lee    
    Name:   Anderson Y. Lee   
    Title:   President   
 
 
  American Express Receivables Financing
Corporation III LLC,
Depositor
 		  
  By:   /s/ Kevin L. Thompson    
    Name:   Kevin L. Thompson   
    Title:   President   
 
 
  American Express Receivables Financing
Corporation IV LLC,
Depositor
 		  
  By:   /s/ Denise D. Roberts    
    Name:   Denise D. Roberts   
    Title:   President   
 

 

EX-99 2 y91637exv99.htm EX-99 exv99
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 June 15, 2011 and covers activity from April 25, 2011 through May 25, 2011.
 
  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 June.
         
  AMERICAN EXPRESS TRAVEL RELATED
SERVICES COMPANY, INC., as Servicer
 		  
  By:   /s/ Beth Schaefer    
    Name:   Beth Schaefer    
    Title:   Vice President
ABS Operations 		  

 

 

         
A. Trust Activity
         
    Trust Totals  
Record Date
   May 31, 2011
Number of days in Monthly Period
     31  
Beginning Number of Accounts
     26,136,610  
Beginning Principal Receivable Balance, including any Additions, Removals, or Adjustments of Principal Receivables during the Monthly Period
     31,724,247,923.98  
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
     31,724,247,923.98  
Finance Charge Collections (excluding Recoveries)
     516,312,456.51  
Collections of Discount Option Receivables
     4,700,807.14  
Recoveries
     32,064,210.30  
Total Collections of Finance Charge Receivables
     553,077,473.95  
Total Collections of Principal Receivables
     10,163,639,437.71  
Monthly Payment Rate
     31.0040 %
Defaulted Amount
     119,289,673.52  
Annualized Default Rate
     4.4311 %
Annualized Default Rate, Net of Recoveries
     3.2401 %
Trust Portfolio Yield
     16.0997 %
New Principal Receivables
     10,255,845,314.48  
Ending Number of Accounts
     26,112,360  
Ending Principal Receivables Balance
     31,697,164,127.23  
Ending Required Minimum Principal Balance
     18,293,565,300.00  
Ending Transferor Amount
     14,600,374,127.23  
Ending Special Funding Account Balance
     0.00  
Ending Total Principal Balance
     31,697,164,127.23  

- 2 -

 

     
B. Series Allocations
                                                                         
                  Principal     Series             Series             Series     Series  
          Adjusted     Funding     Required     Series     Allocable     Series     Allocable     Allocable  
    Invested     Invested     Account     Transferor     Allocation     Finance Charge     Allocable     Principal     Defaulted  
    Amount     Amount     Balance     Amount     Percentage     Collections     Recoveries     Collections     Amount    
Group 1
                                                                        
 
2006-2
     500,000,000       500,000,000.00       0.00       35,000,000.00       2.92 %     16,174,892.30       937,726.04       297,238,237.05       3,488,657.04  
2009-D-I
     20,834,000       20,834,000.00       0.00       1,458,380.00       0.12 %     673,975.41       39,073.17       12,385,322.86       145,365.36  
 
Total
     520,834,000.00       520,834,000.00       0.00       36,458,380.00       3.05 %     16,848,867.71       976,799.21       309,623,559.91       3,634,022.40  
Group 2
                                                                        
 
2004-2
     400,000,000       400,000,000.00       0.00       28,000,000.00       2.34 %     12,939,913.84       750,180.83       237,790,589.64       2,790,925.63  
2005-2
     600,000,000       600,000,000.00       0.00       42,000,000.00       3.51 %     19,409,870.76       1,125,271.25       356,685,884.46       4,186,388.45  
2005-4
     500,000,000       500,000,000.00       0.00       35,000,000.00       2.92 %     16,174,892.30       937,726.04       297,238,237.05       3,488,657.04  
2005-7
     700,000,000       700,000,000.00       0.00       49,000,000.00       4.09 %     22,644,849.22       1,312,816.45       416,133,531.87       4,884,119.85  
2006-3
     600,000,000       600,000,000.00       0.00       42,000,000.00       3.51 %     19,409,870.76       1,125,271.25       356,685,884.46       4,186,388.45  
2007-1
     500,000,000       500,000,000.00       0.00       35,000,000.00       2.92 %     16,174,892.30       937,726.04       297,238,237.05       3,488,657.04  
2007-2
     500,000,000       500,000,000.00       0.00       35,000,000.00       2.92 %     16,174,892.30       937,726.04       297,238,237.05       3,488,657.04  
2007-5
     500,000,000       500,000,000.00       0.00       35,000,000.00       2.92 %     16,174,892.30       937,726.04       297,238,237.05       3,488,657.04  
2007-7
     900,000,000       900,000,000.00       0.00       63,000,000.00       5.26 %     29,114,806.15       1,687,906.87       535,028,826.69       6,279,582.67  
2007-8
     1,200,000,000       1,200,000,000.00       0.00       84,000,000.00       7.02 %     38,819,741.53       2,250,542.49       713,371,768.93       8,372,776.89  
2008-2
     1,363,638,000       1,363,638,000.00       0.00       95,454,660.00       7.98 %     44,113,395.58       2,557,437.72       810,650,710.20       9,514,530.61  
2008-4
     607,956,000       607,956,000.00       0.00       42,556,920.00       3.56 %     19,667,245.65       1,140,192.34       361,415,539.29       4,241,899.96  
2008-5
     909,091,000       909,091,000.00       0.00       63,636,370.00       5.32 %     29,408,898.04       1,704,956.60       540,433,212.32       6,343,013.43  
2008-6
     1,534,091,000       1,534,091,000.00       0.00       107,386,370.00       8.97 %     49,627,513.42       2,877,114.15       911,981,008.64       10,703,834.73  
2008-7
     596,592,000       596,592,000.00       0.00       41,761,440.00       3.49 %     19,299,622.70       1,118,879.70       354,659,908.64       4,162,609.76  
2008-9
     625,000,000       625,000,000.00       0.00       43,750,000.00       3.66 %     20,218,615.38       1,172,157.55       371,547,796.32       4,360,821.30  
2009-1
     1,212,122,000       1,212,122,000.00       0.00       84,848,540.00       7.09 %     39,211,885.62       2,273,276.72       720,578,012.74       8,457,355.89  
2009-2
     1,515,155,000       1,515,155,000.00       0.00       106,060,850.00       8.86 %     49,014,937.89       2,841,600.59       900,724,002.12       10,571,712.31  
2010-1
     1,030,304,000       1,030,304,000.00       0.00       72,121,280.00       6.03 %     33,330,112.48       1,932,285.78       612,491,489.18       7,188,754.60  
2009-D-II
     782,007,000       782,007,000.00       0.00       54,740,490.00       4.57 %     25,297,758.01       1,466,616.65       464,884,764.09       5,456,308.45  
 
Total
     16,575,956,000.00       16,575,956,000.00       0.00       1,160,316,920.00       96.95 %     536,228,606.23       31,087,411.10       9,854,015,877.79       115,655,651.14  
 
Trust
     17,096,790,000.00       17,096,790,000.00       0.00       1,196,775,300.00       100.00 %     553,077,473.94       32,064,210.31       10,163,639,437.70       119,289,673.54  

- 3 -

 

C. Group Allocations (1)
                                                                                 
            Investor                                             Reallocated     Investment        
            Finance     Investor     Investor     Investor     Investor             Investor     Funding        
            Charge     Monthly     Default     Monthly     Additional             Finance     Account     Available  
    Invested Amount     Collections     Interest     Amount     Fees     Amounts     Total     Charge     Proceeds     Excess  
Group 1
                                                                                
2006-2
     500,000,000.00       8,717,061.08       2,242,500.00       1,880,102.47       833,333.33       0.00       4,955,935.80       8,716,951.70       0.00       3,761,125.28  
 
Total
     500,000,000.00       8,717,061.08       2,242,500.00       1,880,102.47       833,333.33       0.00       4,955,935.80       8,716,951.70       0.00       3,761,125.28  
 
Group 2
                                                           
2004-2
     400,000,000.00       6,973,561.36       142,666.67       1,504,081.97       666,666.67       0.00       2,313,415.31       6,712,214.07       0.00       4,398,798.76  
2005-2
     600,000,000.00       10,460,342.04       173,300.00       2,256,122.96       1,000,000.00       0.00       3,429,422.96       10,027,621.10       0.00       6,598,198.14  
2005-4
     500,000,000.00       8,716,951.70       130,416.67       1,880,102.47       833,333.33       0.00       2,843,852.47       8,342,350.92       0.00       5,498,498.45  
2005-7
     700,000,000.00       12,203,732.38       182,933.33       2,632,143.45       1,166,666.67       0.00       3,981,743.45       11,679,641.28       0.00       7,697,897.83  
2006-3
     600,000,000.00       10,460,467.29       124,450.00       2,256,122.96       1,000,000.00       0.00       3,380,572.96       9,978,771.10       0.00       6,598,323.39  
2007-1
     500,000,000.00       8,716,951.70       99,666.66       1,880,102.47       833,333.33       0.00       2,813,102.46       8,311,600.91       0.00       5,498,498.45  
2007-2
     500,000,000.00       8,716,951.70       114,437.50       1,880,102.47       833,333.33       0.00       2,827,873.30       8,326,371.75       0.00       5,498,498.45  
2007-5
     500,000,000.00       8,716,951.70       106,416.67       1,880,102.47       833,333.33       0.00       2,819,852.47       8,318,350.92       0.00       5,498,498.45  
2007-7
     900,000,000.00       15,690,513.07       200,925.00       3,384,184.44       1,500,000.00       0.00       5,085,109.44       14,982,406.65       0.00       9,897,297.21  
2007-8
     1,200,000,000.00       20,920,684.09       585,000.00       4,512,245.92       2,000,000.00       0.00       7,097,245.92       20,293,642.21       0.00       13,196,396.29  
2008-2
     1,363,638,000.00       23,773,533.17       2,088,699.23       5,127,558.33       2,272,730.00       0.00       9,488,987.56       24,484,910.42       0.00       14,995,922.86  
2008-4
     607,956,000.00       10,599,046.18       1,056,961.49       2,286,039.15       1,013,260.00       0.00       4,356,260.64       11,041,950.89       0.00       6,685,690.25  
2008-5
     909,091,000.00       15,849,004.68       916,288.18       3,418,368.46       1,515,151.66       0.00       5,849,808.30       15,847,079.21       0.00       9,997,270.91  
2008-6
     1,534,091,000.00       26,745,194.31       2,187,997.52       5,768,496.55       2,556,818.33       0.00       10,513,312.40       27,383,706.38       0.00       16,870,393.98  
2008-7
     596,592,000.00       10,400,927.30       850,766.47       2,243,308.18       994,320.00       0.00       4,088,394.65       10,649,115.03       0.00       6,560,720.38  
2008-9
     625,000,000.00       10,896,189.63       1,062,630.20       2,350,128.08       1,041,666.67       0.00       4,454,424.95       11,327,548.02       0.00       6,873,123.07  
2009-1
     1,212,122,000.00       21,132,017.87       3,256,843.05       4,557,827.12       2,020,203.34       0.00       9,834,873.51       23,164,575.39       0.00       13,329,701.88  
2009-2
     1,515,155,000.00       26,415,065.91       2,235,578.73       5,697,293.31       2,525,258.33       0.00       10,458,130.37       27,120,285.21       0.00       16,662,154.84  
2010-1
     1,030,304,000.00       17,962,220.42       436,462.35       3,874,154.18       1,717,173.34       0.00       6,027,789.87       17,358,039.77       0.00       11,330,249.90  
 
Total
     15,793,949,000.00       275,350,306.50       15,952,439.72       59,388,484.94       26,323,248.33       0.00       101,664,172.99       275,350,181.23       0.00       173,686,133.49  
 
Trust Total
     16,293,949,000.00       284,067,367.58       18,194,939.72       61,268,587.41       27,156,581.66       0.00       106,620,108.79       284,067,132.93       0.00       177,447,258.77  
 
(1)   Neither Series 2009-D-I nor Series 2009-D-II shares in group allocations with other series. Therefore, certain figures set forth in section “B. Series Allocations” above, which include Series 2009-D-I and Series 2009-D-II, will not equal the corresponding figures set forth in this section “C. Group Allocations.”

- 4 -

 

                         
    Group Investor Finance             Group Reallocable Investor  
    Charge Collections     Group Expenses     Finance Charge Collections  
Group 1
     8,716,951.70       4,955,935.80       3,761,015.90  
Group 2
     275,350,181.25       101,664,172.99       173,686,008.26  
D. Trust Performance
Delinquencies:
         
31-60 Days Delinquent:
     147,392,048  
61-90 Days Delinquent:
     110,424,752  
90+ Days Delinquent:
     284,658,548  
Total 30+ Days Delinquent:
     542,475,349  

- 5 -

 

Series 2004-2 Certificates
                         
    Series     Total Investor        
A. Investor/Transferor Allocations   Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
     742,227,001.07       400,000,000.00       342,227,001.07  
Beginning Adjusted Invested Amount
     N/A       400,000,000.00       N/A  
Floating Allocation Percentage
     N/A       53.8919 %     46.1081 %
Principal Allocation Percentage
     N/A       53.8919 %     46.1081 %
Collections of Finance Charge Receivables
     12,939,913.84       6,973,561.36       5,966,352.48  
Collections of Principal Receivables
     237,790,589.64       128,149,792.07       109,640,797.57  
Defaulted Amount
     2,790,925.63       1,504,081.97       1,286,843.66  
 
Ending Invested Amount / Transferor Amount
     741,593,343.01       400,000,000.00       341,593,343.01  
                                 
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
   May 12, 2011   May 12, 2011   May 12, 2011        
Coupon May 16, 2011 - June 14, 2011
     0.36800 %     0.56800 %     0.86800 %        
Monthly Interest Due
     102,426.67       14,200.00       26,040.00       142,666.67  
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
     102,426.67       14,200.00       26,040.00       142,666.67  
Investor Default Amount
     1,255,908.44       112,806.15       135,367.38       1,504,081.97  
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
     1,915,001.78       177,006.15       221,407.38       2,313,415.31  
 
Reallocated Investor Finance Charge Collections
                             6,712,214.07  
Interest and Principal Funding Investment Proceeds
                             0.00  
Interest on Reserve Account
                             0.00  
Series Adjusted Portfolio Yield
                             15.3304 %
Base Rate
                             2.4617 %
Excess Spread Percentage
                             13.1964 %

- 6 -

 

                                 
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
     102,426.67       14,200.00       26,040.00       142,666.67  
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
     102,426.67       14,200.00       26,040.00       142,666.67  
Ending Certificates Balance
     334,000,000.00       30,000,000.00       36,000,000.00       400,000,000.00  
         
 
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  

- 7 -

 

         
 
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  
 
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 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  

- 8 -

 

         
 
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
        
1. The total amount distributed to the Collateral Interest Holder:
   $ 4,424,838.77  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
   $ 26,040.00  
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 distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
   $ 4,398,798.77  
 
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  

- 9 -

 

         
 
J. Application of Reallocated Investor Finance Charge Collections.
        
1. Class A Available Funds:
   $ 5,604,698.75  
a. Class A Monthly Interest:
   $ 102,426.67  
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):
   $ 1,255,908.44  
e. Excess Spread:
   $ 4,246,363.64  
2. Class B Available Funds:
   $ 503,416.06  
a. Class B Monthly Interest:
   $ 14,200.00  
b. Class B Outstanding Monthly Interest:
   $ 0.00  
c. Class B Additional Interest:
   $ 0.00  
d. Excess Spread:
   $ 489,216.06  
3. Collateral Available Funds:
   $ 604,099.27  
a. Excess Spread:
   $ 604,099.27  
4. Total Excess Spread:
   $ 5,339,678.97  
 
K. Reallocated Principal Collections.
        
1. Principal Allocation Percentage:
     53.8919 %
2. Series 2004-2 Allocable Principal Collections:
   $ 237,790,589.64  
3. Principal Allocation Percentage of Series 2004-2 Allocable Principal Collections:
   $ 128,149,792.07  
4. Reallocated Principal Collections Required to fund the Required Amount:
   $ 0.00  
5. Item 3 minus item 4:
   $ 128,149,792.07  
6. Shared Principal Collections from other Series allocated to Series 2004-2:
   $ 0.00  
7. Other amounts treated as Available Principal Collections:
   $ 1,504,081.97  
8. Available Principal Collections (total of items 5., 6. & 7.):
   $ 129,653,874.04  

- 10 -

 

         
 
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:
   $ 129,653,874.04  
 
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:
   $ 5,339,678.97  
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:
   $ 112,806.15  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
   $ 26,040.00  
9. Applied to unpaid Monthly Servicing Fee:
   $ 666,666.67  
10. Collateral Default Amount treated as Available Principal Collections:
   $ 135,367.38  
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):
   $ 4,398,798.77  

- 11 -

 

         
 
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:
   $ 5,339,678.97  
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:
   $ 112,806.15  
8. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
9. Applied to Collateral Minimum Monthly Interest:
   $ 26,040.00  
10. Applied to unpaid Monthly Servicing Fee:
   $ 666,666.67  
11. Collateral Default Amount treated as Available Principal Collections:
   $ 135,367.38  
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):
   $ 4,398,798.77  
 
O. Yield and Base Rate.
        
1. Base Rate:
        
a. Current Monthly Period:
     2.4617 %
b. Prior Monthly Period:
     2.4173 %
c. Second Prior Monthly Period:
     2.4541 %
2. Three Month Average Base Rate:
     2.4444 %
3. Series Adjusted Portfolio Yield:
        
a. Current Monthly Period:
     15.3304 %
b. Prior Monthly Period:
     15.4661 %
c. Second Prior Monthly Period:
     14.3337 %
4. Three Month Average Series Adjusted Portfolio Yield:
     15.0434 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
    Yes  

- 12 -

 

Series 2005-2 Certificates
                                 
            Series     Total Investor        
A. Investor/Transferor Allocations           Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
             1,113,340,501.60       600,000,000.00       513,340,501.60  
Beginning Adjusted Invested Amount
             N/A       600,000,000.00       N/A  
Floating Allocation Percentage
             N/A       53.8919 %     46.1081 %
Principal Allocation Percentage
             N/A       53.8919 %     46.1081 %
Collections of Finance Charge Receivables
             19,409,870.76       10,460,342.04       8,949,528.72  
Collections of Principal Receivables
             356,685,884.46       192,224,688.11       164,461,196.35  
Defaulted Amount
             4,186,388.45       2,256,122.96       1,930,265.49  
 
Ending Invested Amount / Transferor Amount
             1,112,390,014.52       600,000,000.00       512,390,014.52  
                                 
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
    May 12, 2011       May 12, 2011       May 12, 2011          
Coupon May 16, 2011 - June 14, 2011
     0.29800 %     0.47800 %     0.68800 %        
Monthly Interest Due
     124,415.00       17,925.00       30,960.00       173,300.00  
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
     124,415.00       17,925.00       30,960.00       173,300.00  
Investor Default Amount
     1,883,862.67       169,209.22       203,051.07       2,256,122.96  
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
     2,843,277.67       262,134.22       324,011.07       3,429,422.96  
 
Reallocated Investor Finance Charge Collections
                             10,027,621.10  
Interest and Principal Funding Investment Proceeds
                             0.00  
Interest on Reserve Account
                             0.00  
Series Adjusted Portfolio Yield
                             15.2505 %
Base Rate
                             2.3792 %
Excess Spread Percentage
                             13.1964 %

- 13 -

 

                                 
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
     124,415.00       17,925.00       30,960.00       173,300.00  
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
     124,415.00       17,925.00       30,960.00       173,300.00  
Ending Certificates Balance
     501,000,000.00       45,000,000.00       54,000,000.00       600,000,000.00  
         
 
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  

- 14 -

 

         
 
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  
 
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 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  

- 15 -

 

         
 
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
        
1. The total amount distributed to the Collateral Interest Holder:
   $ 6,629,158.14  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
   $ 30,960.00  
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 distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
   $ 6,598,198.14  
 
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  

- 16 -

 

         
 
J. Application of Reallocated Investor Finance Charge Collections.
        
1. Class A Available Funds:
   $ 8,373,063.62  
a. Class A Monthly Interest:
   $ 124,415.00  
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):
   $ 1,883,862.67  
e. Excess Spread:
   $ 6,364,785.95  
2. Class B Available Funds:
   $ 752,071.58  
a. Class B Monthly Interest:
   $ 17,925.00  
b. Class B Outstanding Monthly Interest:
   $ 0.00  
c. Class B Additional Interest:
   $ 0.00  
d. Excess Spread:
   $ 734,146.58  
3. Collateral Available Funds:
   $ 902,485.90  
a. Excess Spread:
   $ 902,485.90  
4. Total Excess Spread:
   $ 8,001,418.43  
 
K. Reallocated Principal Collections.
        
1. Principal Allocation Percentage:
     53.8919 %
2. Series 2005-2 Allocable Principal Collections:
   $ 356,685,884.46  
3. Principal Allocation Percentage of Series 2005-2 Allocable Principal Collections:
   $ 192,224,688.11  
4. Reallocated Principal Collections Required to fund the Required Amount:
   $ 0.00  
5. Item 3 minus item 4:
   $ 192,224,688.11  
6. Shared Principal Collections from other Series allocated to Series 2005-2:
   $ 0.00  
7. Other amounts treated as Available Principal Collections:
   $ 2,256,122.96  
8. Available Principal Collections (total of items 5., 6. & 7.):
   $ 194,480,811.07  

- 17 -

 

         
 
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:
   $ 194,480,811.07  
 
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:
   $ 8,001,418.43  
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:
   $ 169,209.22  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
   $ 30,960.00  
9. Applied to unpaid Monthly Servicing Fee:
   $ 1,000,000.00  
10. Collateral Default Amount treated as Available Principal Collections:
   $ 203,051.07  
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):
   $ 6,598,198.14  

- 18 -

 

         
 
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:
   $ 8,001,418.43  
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:
   $ 169,209.22  
8. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
9. Applied to Collateral Minimum Monthly Interest:
   $ 30,960.00  
10. Applied to unpaid Monthly Servicing Fee:
   $ 1,000,000.00  
11. Collateral Default Amount treated as Available Principal Collections:
   $ 203,051.07  
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):
        
 
 
   $ 6,598,198.14  
 
O. Yield and Base Rate.
        
1. Base Rate:
        
a. Current Monthly Period:
     2.3792 %
b. Prior Monthly Period:
     2.3348 %
c. Second Prior Monthly Period:
     2.3716 %
2. Three Month Average Base Rate:
     2.3619 %
3. Series Adjusted Portfolio Yield:
        
a. Current Monthly Period:
     15.2505 %
b. Prior Monthly Period:
     15.3808 %
c. Second Prior Monthly Period:
     14.2512 %
4. Three Month Average Series Adjusted Portfolio Yield:
     14.9608 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
    Yes  

- 19 -

 

Series 2005-4 Certificates
                     
    Series   Total Investor        
A. Investor/Transferor Allocations   Allocations   Interest     Transferors’ Interest
Beginning Invested Amount/Transferor Amount
     927,783,751.34     500,000,000.00     427,783,751.34  
Beginning Adjusted Invested Amount
     N/A     500,000,000.00     N/A  
Floating Allocation Percentage
     N/A     53.8919 %   46.1081 %
Principal Allocation Percentage
     N/A     53.8919 %   46.1081 %
Collections of Finance Charge Receivables
     16,174,892.30     8,716,951.70     7,457,940.60  
Collections of Principal Receivables
     297,238,237.05     160,187,240.09     137,050,996.96  
Defaulted Amount
     3,488,657.04     1,880,102.47     1,608,554.57  
 
Ending Invested Amount / Transferor Amount
     926,991,678.77     500,000,000.00     426,991,678.77  
                                 
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
    May 12, 2011       May 12, 2011       May 12, 2011          
Coupon May 16, 2011 - June 14, 2011
     0.26800 %     0.44800 %     0.61800 %        
Monthly Interest Due
     93,241.67       14,000.00       23,175.00       130,416.67  
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
     93,241.67       14,000.00       23,175.00       130,416.67  
Investor Default Amount
     1,569,885.56       141,007.69       169,209.22       1,880,102.47  
Investor Monthly Fees Due
     695,833.33       62,500.00       75,000.00       833,333.33  
Investor Additional Amounts Due
     0.00       0.00       0.00       0.00  
Total Due
     2,358,960.56       217,507.69       267,384.22       2,843,852.47  
 
Reallocated Investor Finance Charge Collections
                           8,342,350.92  
Interest and Principal Funding Investment Proceeds
                             0.00  
Interest on Reserve Account
                             0.00  
Series Adjusted Portfolio Yield
                             15.2176 %
Base Rate
                             2.3451 %
Excess Spread Percentage
                             13.1964 %

- 20 -

 

                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
     417,500,000.00       37,500,000.00       45,000,000.00       500,000,000.00  
Distributions of Interest
     93,241.67       14,000.00       23,175.00       130,416.67  
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
     93,241.67       14,000.00       23,175.00       130,416.67  
Ending Certificates Balance
     417,500,000.00       37,500,000.00       45,000,000.00       500,000,000.00  
         
 
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:
   $ 0.22  
2. The amount of the distribution in respect of Class A Monthly Interest:
   $ 0.22  
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  

- 21 -

 

         
 
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:
   $ 0.37  
2. The amount of the distribution in respect of Class B Monthly Interest:
   $ 0.37  
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  
 
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 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  

- 22 -

 

         
 
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
        
1. The total amount distributed to the Collateral Interest Holder:
   $ 5,521,673.45  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
   $ 23,175.00  
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 distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
   $ 5,498,498.45  
 
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  

- 23 -

 

         
 
J. Application of Reallocated Investor Finance Charge Collections.
        
1. Class A Available Funds:
   $ 6,965,863.02  
a. Class A Monthly Interest:
   $ 93,241.67  
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):
   $ 1,569,885.56  
e. Excess Spread:
   $ 5,302,735.79  
2. Class B Available Funds:
   $ 625,676.32  
a. Class B Monthly Interest:
   $ 14,000.00  
b. Class B Outstanding Monthly Interest:
   $ 0.00  
c. Class B Additional Interest:
   $ 0.00  
d. Excess Spread:
   $ 611,676.32  
3. Collateral Available Funds:
   $ 750,811.58  
a. Excess Spread:
   $ 750,811.58  
4. Total Excess Spread:
   $ 6,665,223.69  
 
K. Reallocated Principal Collections.
        
1. Principal Allocation Percentage:
     53.8919 %
2. Series 2005-4 Allocable Principal Collections:
   $ 297,238,237.05  
3. Principal Allocation Percentage of Series 2005-4 Allocable Principal Collections:
   $ 160,187,240.09  
4. Reallocated Principal Collections Required to fund the Required Amount:
   $ 0.00  
5. Item 3 minus item 4:
   $ 160,187,240.09  
6. Shared Principal Collections from other Series allocated to Series 2005-4:
   $ 0.00  
7. Other amounts treated as Available Principal Collections:
   $ 1,880,102.47  
8. Available Principal Collections (total of items 5., 6. & 7.):
   $ 162,067,342.56  

- 24 -

 

         
 
L. Application of Available Principal Collections during Revolving Period.
        
1. Collateral Invested Amount:
   $ 45,000,000.00  
2. Required Collateral Invested Amount:
   $ 45,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
   $ 0.00  
4. Treated as Shared Principal Collections:
   $ 162,067,342.56  
 
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 2005-4.
       
1. Excess Spread:
   $ 6,665,223.69  
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:
   $ 141,007.69  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
   $ 23,175.00  
9. Applied to unpaid Monthly Servicing Fee:
   $ 833,333.33  
10. Collateral Default Amount treated as Available Principal Collections:
   $ 169,209.22  
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):
   $ 5,498,498.45  

- 25 -

 

         
 
N.2. Application of Excess Spread, Excess Finance Charge Collections and Funds from Series 2009-D-II Allocated to Series 2005-4.
        
1. Excess Spread:
   $ 6,665,223.69  
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:
   $ 141,007.69  
8. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
9. Applied to Collateral Minimum Monthly Interest:
   $ 23,175.00  
10. Applied to unpaid Monthly Servicing Fee:
   $ 833,333.33  
11. Collateral Default Amount treated as Available Principal Collections:
   $ 169,209.22  
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
   $ 5,498,498.45  
Collateral Interest Holder(s):
        
 
O. Yield and Base Rate.
        
1. Base Rate:
        
a. Current Monthly Period:
     2.3451 %
b. Prior Monthly Period:
     2.3008 %
c. Second Prior Monthly Period:
     2.3375 %
2. Three Month Average Base Rate:
     2.3278 %
3. Series Adjusted Portfolio Yield:
        
a. Current Monthly Period:
     15.2176 %
b. Prior Monthly Period:
     15.3456 %
c. Second Prior Monthly Period:
     14.2171 %
4. Three Month Average Series Adjusted Portfolio Yield:
     14.9268 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
   Yes

- 26 -

 

                                 
Series 2005-7 Certificates                          
            Series     Total Investor        
A. Investor/Transferor Allocations           Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
             1,298,897,251.87       700,000,000.00       598,897,251.87  
Beginning Adjusted Invested Amount
             N/A       700,000,000.00       N/A  
Floating Allocation Percentage
             N/A       53.8919 %     46.1081 %
Principal Allocation Percentage
             N/A       53.8919 %     46.1081 %
Collections of Finance Charge Receivables
             22,644,849.22       12,203,732.38       10,441,116.84  
Collections of Principal Receivables
             416,133,531.87       224,262,136.12       191,871,395.75  
Defaulted Amount
             4,884,119.85       2,632,143.45       2,251,976.40  
 
Ending Invested Amount / Transferor Amount
             1,297,788,350.27       700,000,000.00       597,788,350.27  
                                 
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
   May 12, 2011   May 12, 2011   May 12, 2011        
Coupon May 16, 2011 - June 14, 2011
     0.26800 %     0.46800 %     0.60800 %        
Monthly Interest Due
     130,538.33       20,475.00       31,920.00       182,933.33  
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
     130,538.33       20,475.00       31,920.00       182,933.33  
Investor Default Amount
     2,197,839.78       197,410.76       236,892.91       2,632,143.45  
Investor Monthly Fees Due
     974,166.67       87,500.00       105,000.00       1,166,666.67  
Investor Additional Amounts Due
     0.00       0.00       0.00       0.00  
Total Due
     3,302,544.78       305,385.76       373,812.91       3,981,743.45  
 
                                
Reallocated Investor Finance Charge Collections
                             11,679,641.28  
Interest and Principal Funding Investment Proceeds
                             0.00  
Interest on Reserve Account
                             0.00  
Series Adjusted Portfolio Yield
                             15.2181 %
Base Rate
                             2.3457 %
Excess Spread Percentage
                             13.1964 %

- 27 -

 

                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
     584,500,000.00       52,500,000.00       63,000,000.00       700,000,000.00  
Distributions of Interest
     130,538.33       20,475.00       31,920.00       182,933.33  
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
     130,538.33       20,475.00       31,920.00       182,933.33  
Ending Certificates Balance
     584,500,000.00       52,500,000.00       63,000,000.00       700,000,000.00  
         
 
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:
   $ 0.22  
2. The amount of the distribution in respect of Class A Monthly Interest:
   $ 0.22  
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  

- 28 -

 

         
 
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:
   $ 0.39  
2. The amount of the distribution in respect of Class B Monthly Interest:
   $ 0.39  
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  
 
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 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  

- 29 -

 

         
 
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
        
1. The total amount distributed to the Collateral Interest Holder:
   $ 7,729,817.84  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
   $ 31,920.00  
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 distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
   $ 7,697,897.84  
 
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  

- 30 -

 

         
 
J. Application of Reallocated Investor Finance Charge Collections.
        
1. Class A Available Funds:
   $ 9,752,500.47  
a. Class A Monthly Interest:
   $ 130,538.33  
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):
   $ 2,197,839.78  
e. Excess Spread:
   $ 7,424,122.36  
2. Class B Available Funds:
   $ 875,973.10  
a. Class B Monthly Interest:
   $ 20,475.00  
b. Class B Outstanding Monthly Interest:
   $ 0.00  
c. Class B Additional Interest:
   $ 0.00  
d. Excess Spread:
   $ 855,498.10  
3. Collateral Available Funds:
   $ 1,051,167.72  
a. Excess Spread:
   $ 1,051,167.72  
4. Total Excess Spread:
   $ 9,330,788.18  
 
K. Reallocated Principal Collections.
        
1. Principal Allocation Percentage:
     53.8919 %
2. Series 2005-7 Allocable Principal Collections:
   $ 416,133,531.87  
3. Principal Allocation Percentage of Series 2005-7 Allocable Principal Collections:
   $ 224,262,136.12  
4. Reallocated Principal Collections Required to fund the Required Amount:
   $ 0.00  
5. Item 3 minus item 4:
   $ 224,262,136.12  
6. Shared Principal Collections from other Series allocated to Series 2005-7:
   $ 0.00  
7. Other amounts treated as Available Principal Collections:
   $ 2,632,143.45  
8. Available Principal Collections (total of items 5., 6. & 7.):
   $ 226,894,279.57  

- 31 -

 

         
 
L. Application of Available Principal Collections during Revolving Period.
        
1. Collateral Invested Amount:
   $ 63,000,000.00  
2. Required Collateral Invested Amount:
   $ 63,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
   $ 0.00  
4. Treated as Shared Principal Collections:
   $ 226,894,279.57  
 
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 2005-7.
       
1. Excess Spread:
   $ 9,330,788.18  
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:
   $ 197,410.76  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
   $ 31,920.00  
9. Applied to unpaid Monthly Servicing Fee:
   $ 1,166,666.67  
10. Collateral Default Amount treated as Available Principal Collections:
   $ 236,892.91  
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):
   $ 7,697,897.84  

- 32 -

 

         
 
N.2. Application of Excess Spread, Excess Finance Charge Collections and Funds from Series 2009-D-II Allocated to Series 2005-7.
        
1. Excess Spread:
   $ 9,330,788.18  
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:
   $ 197,410.76  
8. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
9. Applied to Collateral Minimum Monthly Interest:
   $ 31,920.00  
10. Applied to unpaid Monthly Servicing Fee:
   $ 1,166,666.67  
11. Collateral Default Amount treated as Available Principal Collections:
   $ 236,892.91  
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):
   $ 7,697,897.84  
 
O. Yield and Base Rate.
        
1. Base Rate:
        
a. Current Monthly Period:
     2.3457 %
b. Prior Monthly Period:
     2.3014 %
c. Second Prior Monthly Period:
     2.3381 %
2. Three Month Average Base Rate:
     2.3284 %
3. Series Adjusted Portfolio Yield:
        
a. Current Monthly Period:
     15.2181 %
b. Prior Monthly Period:
     15.3463 %
c. Second Prior Monthly Period:
     14.2177 %
4. Three Month Average Series Adjusted Portfolio Yield:
     14.9274 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
   Yes

- 33 -

 

                                 
Series 2006-2 Certificates                          
            Series     Total Investor        
A. Investor/Transferor Allocations           Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
             927,783,751.34       500,000,000.00       427,783,751.34  
Beginning Adjusted Invested Amount
             N/A       500,000,000.00       N/A  
Floating Allocation Percentage
             N/A       53.8919 %     46.1081 %
Principal Allocation Percentage
             N/A       53.8919 %     46.1081 %
Collections of Finance Charge Receivables
             16,174,892.30       8,717,061.08       7,457,940.60  
Collections of Principal Receivables
             297,238,237.05       160,187,240.09       137,050,996.96  
Defaulted Amount
             3,488,657.04       1,880,102.47       1,608,554.57  
 
Ending Invested Amount / Transferor Amount
             926,991,678.77       500,000,000.00       426,991,678.77  
                                 
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
     2,187,500.00       0.00       0.00       2,187,500.00  
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)
     2,187,500.00       0.00       0.00       2,187,500.00  
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
     2,187,500.00       0.00       0.00       2,187,500.00  
 
LIBOR Determination Date
    NA       NA       NA          
Coupon May 16, 2011 - June 14, 2011
     5.35000 %     5.55000 %     5.65000 %        
Monthly Interest Due
     1,950,520.83       127,187.50       164,791.67       2,242,500.00  
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
     1,950,520.83       127,187.50       164,791.67       2,242,500.00  
Investor Default Amount
     1,645,089.66       103,405.64       131,607.17       1,880,102.47  
Investor Monthly Fees Due
     729,166.67       45,833.33       58,333.33       833,333.33  
Investor Additional Amounts Due
     0.00       0.00       0.00       0.00  
Total Due
     4,324,777.16       276,426.47       354,732.17       4,955,935.80  
 
Reallocated Investor Finance Charge Collections
                             8,716,951.70  
Interest and Principal Funding Investment Proceeds
                             0.00  
Interest on Reserve Account
                             109.38  
Series Adjusted Portfolio Yield
                             16.0999 %
Base Rate
                             7.4845 %
Excess Spread Percentage
                             9.0267 %

- 34 -

 

                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
     437,500,000.00       27,500,000.00       35,000,000.00       500,000,000.00  
Distributions of Interest
     1,950,520.83       127,187.50       164,791.67       2,242,500.00  
Deposits to the Principal Funding Account
     437,500,000.00       27,500,000.00       0.00       465,000,000.00  
Distributions of Principal
     437,500,000.00       27,500,000.00       35,000,000.00       500,000,000.00  
Total Distributions
     439,450,520.83       27,627,187.50       35,164,791.67       502,242,500.00  
Ending Certificates Balance
     0.00       0.00       0.00       0.00  
         
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:
   $ 1,004.46  
2. The amount of the distribution in respect of Class A Monthly Interest:
   $ 4.46  
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:
   $ 1,000.00  
 
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  

- 35 -

 

         
 
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:
   $ 1,004.63  
2. The amount of the distribution in respect of Class B Monthly Interest:
   $ 4.63  
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:
   $ 1,000.00  
 
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 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  

- 36 -

 

         
 
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
        
1. The total amount distributed to the Collateral Interest Holder:
   $ 38,925,916.96  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
   $ 164,791.67  
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:
   $ 35,000,000.00  
5. The amount distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
   $ 3,761,125.29  
 
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  

- 37 -

 

         
 
J. Application of Reallocated Investor Finance Charge Collections.
        
1. Class A Available Funds:
   $ 7,627,428.45  
a. Class A Monthly Interest:
   $ 1,950,520.83  
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):
   $ 1,645,089.66  
e. Excess Spread:
   $ 4,031,817.96  
2. Class B Available Funds:
   $ 479,438.36  
a. Class B Monthly Interest:
   $ 127,187.50  
b. Class B Outstanding Monthly Interest:
   $ 0.00  
c. Class B Additional Interest:
   $ 0.00  
d. Excess Spread:
   $ 352,250.86  
3. Collateral Available Funds:
   $ 610,194.28  
a. Excess Spread:
   $ 610,194.28  
4. Total Excess Spread:
   $ 4,994,263.10  
 
K. Reallocated Principal Collections.
        
1. Principal Allocation Percentage:
     53.8919 %
2. Series 2006-2 Allocable Principal Collections:
   $ 297,238,237.05  
3. Principal Allocation Percentage of Series 2006-2 Allocable Principal Collections:
   $ 160,187,240.09  
4. Reallocated Principal Collections Required to fund the Required Amount:
   $ 0.00  
5. Item 3 minus item 4:
   $ 160,187,240.09  
6. Shared Principal Collections from other Series allocated to Series 2006-2:
   $ 337,932,657.44  
7. Other amounts treated as Available Principal Collections:
   $ 1,880,102.47  
8. Available Principal Collections (total of items 5., 6. & 7.):
   $ 500,000,000.00  

- 38 -

 

         
 
L. Application of Available Principal Collections during Revolving Period.
        
1. Collateral Invested Amount:
     N/A  
2. Required Collateral Invested Amount:
     N/A  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
     N/A  
4. Treated as Shared Principal Collections:
     N/A  
 
M. Application of Principal Collections During Accumulation or Amortization Period.
        
1. Principal Funding Account:
   $ 465,000,000.00  
2. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
   $ 35,000,000.00  
3. Distribution of Principal:
   $ 500,000,000.00  
4. Treated as Shared Principal Collections:
   $ 0.00  
 
N.1. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2006-2.
        
1. Excess Spread:
   $ 4,994,263.10  
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:
   $ 103,405.64  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
   $ 164,791.67  
9. Applied to unpaid Monthly Servicing Fee:
   $ 833,333.33  
10. Collateral Default Amount treated as Available Principal Collections:
   $ 131,607.17  
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):
   $ 3,761,125.29  

- 39 -

 

         
 
N.2. Application of Excess Spread, Excess Finance Charge Collections and Funds from Series 2009-D-I Allocated to Series 2006-2.
        
1. Excess Spread:
   $ 4,994,263.10  
2. Excess Finance Charge Collections:
   $ 0.00  
3. Funds from Series 2009-D-I
   $ 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:
   $ 103,405.64  
8. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
9. Applied to Collateral Minimum Monthly Interest:
   $ 164,791.67  
10. Applied to unpaid Monthly Servicing Fee:
   $ 833,333.33  
11. Collateral Default Amount treated as Available Principal Collections:
   $ 131,607.17  
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):
   $ 3,761,125.29  
 
O. Yield and Base Rate.
        
1. Base Rate:
        
a. Current Monthly Period:
     7.4845 %
b. Prior Monthly Period:
     7.2431 %
c. Second Prior Monthly Period:
     7.2431 %
2. Three Month Average Base Rate:
     7.3236 %
3. Series Adjusted Portfolio Yield:
        
a. Current Monthly Period:
     16.0999 %
b. Prior Monthly Period:
     16.2284 %
c. Second Prior Monthly Period:
     15.0712 %
4. Three Month Average Series Adjusted Portfolio Yield:
     15.7999 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
    Yes  

- 40 -

 

Series 2006-3 Certificates
                                 
            Series     Total Investor        
A. Investor/Transferor Allocations           Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
             1,113,340,501.60       600,000,000.00       513,340,501.60  
Beginning Adjusted Invested Amount
             N/A       600,000,000.00       N/A  
Floating Allocation Percentage
             N/A       53.8919 %     46.1081 %
Principal Allocation Percentage
             N/A       53.8919 %     46.1081 %
Collections of Finance Charge Receivables
             19,409,870.76       10,460,467.29       8,949,528.72  
Collections of Principal Receivables
             356,685,884.46       192,224,688.11       164,461,196.35  
Defaulted Amount
             4,186,388.45       2,256,122.96       1,930,265.49  
 
                                
Ending Invested Amount / Transferor Amount
             1,112,390,014.52       600,000,000.00       512,390,014.52  
                                 
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
     2,505,000.00       0.00       0.00       2,505,000.00  
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)
     2,505,000.00       0.00       0.00       2,505,000.00  
Required Reserve Account Amount
     2,505,000.00       0.00       0.00       2,505,000.00  
 
                                
LIBOR Determination Date
   May 12, 2011     May 12, 2011     May 12, 2011          
Coupon May 16, 2011 - June 14, 2011
     0.21800 %     0.31800 %     0.47800 %        
Monthly Interest Due
     91,015.00       11,925.00       21,510.00       124,450.00  
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
     91,015.00       11,925.00       21,510.00       124,450.00  
Investor Default Amount
     1,883,862.67       169,209.22       203,051.07       2,256,122.96  
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
     2,809,877.67       256,134.22       314,561.07       3,380,572.96  
 
                                
Reallocated Investor Finance Charge Collections
                             9,978,771.10  
Interest and Principal Funding Investment Proceeds
                             0.00  
Interest on Reserve Account
                             125.25  
Series Adjusted Portfolio Yield
                             15.1549 %
Base Rate
                             2.2801 %
Excess Spread Percentage
                             13.1966 %

- 41 -

 

                                 
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
     91,015.00       11,925.00       21,510.00       124,450.00  
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
     91,015.00       11,925.00       21,510.00       124,450.00  
Ending Certificates Balance
     501,000,000.00       45,000,000.00       54,000,000.00       600,000,000.00  
         
 
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:
   $ 0.18  
2. The amount of the distribution in respect of Class A Monthly Interest:
   $ 0.18  
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  

- 42 -

 

         
 
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:
   $ 0.27  
2. The amount of the distribution in respect of Class B Monthly Interest:
   $ 0.27  
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  
 
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 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  

- 43 -

 

         
 
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
        
1. The total amount distributed to the Collateral Interest Holder:
   $ 6,619,833.39  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
   $ 21,510.00  
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 distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
   $ 6,598,323.39  
 
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:
   $ 8,332,378.45  
a. Class A Monthly Interest:
   $ 91,015.00  
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):
   $ 1,883,862.67  
e. Excess Spread:
   $ 6,357,500.78  
2. Class B Available Funds:
   $ 748,417.23  
a. Class B Monthly Interest:
   $ 11,925.00  
b. Class B Outstanding Monthly Interest:
   $ 0.00  
c. Class B Additional Interest:
   $ 0.00  
d. Excess Spread:
   $ 736,492.23  
3. Collateral Available Funds:
   $ 898,100.67  
a. Excess Spread:
   $ 898,100.67  
4. Total Excess Spread:
   $ 7,992,093.68  
 
K. Reallocated Principal Collections.
        
1. Principal Allocation Percentage:
     53.8919 %
2. Series 2006-3 Allocable Principal Collections:
   $ 356,685,884.46  
3. Principal Allocation Percentage of Series 2006-3 Allocable Principal Collections:
   $ 192,224,688.11  
4. Reallocated Principal Collections Required to fund the Required Amount:
   $ 0.00  
5. Item 3 minus item 4:
   $ 192,224,688.11  
6. Shared Principal Collections from other Series allocated to Series 2006-3:
   $ 0.00  
7. Other amounts treated as Available Principal Collections:
   $ 2,256,122.96  
8. Available Principal Collections (total of items 5., 6. & 7.):
   $ 194,480,811.07  

- 45 -

 

         
 
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:
   $ 194,480,811.07  
 
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 2006-3.
       
1. Excess Spread:
   $ 7,992,093.68  
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:
   $ 169,209.22  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
   $ 21,510.00  
9. Applied to unpaid Monthly Servicing Fee:
   $ 1,000,000.00  
10. Collateral Default Amount treated as Available Principal Collections:
   $ 203,051.07  
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):
   $ 6,598,323.39  

- 46 -

 

         
 
N.2. Application of Excess Spread, Excess Finance Charge Collections and Funds from Series 2009-D-II Allocated to Series 2006-3.
        
1. Excess Spread:
   $ 7,992,093.68  
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:
   $ 169,209.22  
8. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
9. Applied to Collateral Minimum Monthly Interest:
   $ 21,510.00  
10. Applied to unpaid Monthly Servicing Fee:
   $ 1,000,000.00  
11. Collateral Default Amount treated as Available Principal Collections:
   $ 203,051.07  
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):
   $ 6,598,323.39  
 
O. Yield and Base Rate.
        
1. Base Rate:
        
a. Current Monthly Period:
     2.2801 %
b. Prior Monthly Period:
     2.2358 %
c. Second Prior Monthly Period:
     2.2725 %
2. Three Month Average Base Rate:
     2.2628 %
3. Series Adjusted Portfolio Yield:
        
a. Current Monthly Period:
     15.1549 %
b. Prior Monthly Period:
     15.2785 %
c. Second Prior Monthly Period:
     14.1521 %
4. Three Month Average Series Adjusted Portfolio Yield:
     14.8618 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
   Yes  

- 47 -

 

Series 2007-1 Certificates
                                 
            Series     Total Investor        
A. Investor/Transferor Allocations           Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
             927,783,751.34       500,000,000.00       427,783,751.34  
Beginning Adjusted Invested Amount
             N/A       500,000,000.00       N/A  
Floating Allocation Percentage
             N/A       53.8919 %     46.1081 %
Principal Allocation Percentage
             N/A       53.8919 %     46.1081 %
Collections of Finance Charge Receivables
             16,174,892.30       8,716,951.70       7,457,940.60  
Collections of Principal Receivables
             297,238,237.05       160,187,240.09       137,050,996.96  
Defaulted Amount
             3,488,657.04       1,880,102.47       1,608,554.57  
 
                                
Ending Invested Amount / Transferor Amount
             926,991,678.77       500,000,000.00       426,991,678.77  
                                 
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
  May 12, 2011     May 12, 2011       May 12, 2011          
Coupon May 16, 2011 - June 14, 2011
    0.21800 %     0.30800 %     0.46800 %        
Monthly Interest Due
     79,933.33       7,058.33       12,675.00       99,666.66  
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
     79,933.33       7,058.33       12,675.00       99,666.66  
Investor Default Amount
     1,654,490.17       103,405.64       122,206.66       1,880,102.47  
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
     2,467,756.83       156,297.30       189,048.33       2,813,102.46  
 
                                
Reallocated Investor Finance Charge Collections
                             8,311,600.91  
Interest and Principal Funding Investment Proceeds
                             0.00  
Interest on Reserve Account
                             0.00  
Series Adjusted Portfolio Yield
                             15.1451 %
Base Rate
                             2.2703 %
Excess Spread Percentage
                             13.1964 %

- 48 -

 

                                 
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
     79,933.33       7,058.33       12,675.00       99,666.66  
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
     79,933.33       7,058.33       12,675.00       99,666.66  
Ending Certificates Balance
     440,000,000.00       27,500,000.00       32,500,000.00       500,000,000.00  
         
 
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:
   $ 0.18  
2. The amount of the distribution in respect of Class A Monthly Interest:
   $ 0.18  
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  

- 49 -

 

         
 
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:
   $ 0.26  
2. The amount of the distribution in respect of Class B Monthly Interest:
   $ 0.26  
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  
 
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 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  

- 50 -

 

         
 
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
        
1. The total amount distributed to the Collateral Interest Holder:
   $ 5,511,173.45  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
   $ 12,675.00  
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 distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
   $ 5,498,498.45  
 
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  

- 51 -

 

         
 
J. Application of Reallocated Investor Finance Charge Collections.
        
1. Class A Available Funds:
   $ 7,314,208.80  
a. Class A Monthly Interest:
   $ 79,933.33  
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):
   $ 1,654,490.17  
e. Excess Spread:
   $ 5,579,785.30  
2. Class B Available Funds:
   $ 457,138.05  
a. Class B Monthly Interest:
   $ 7,058.33  
b. Class B Outstanding Monthly Interest:
   $ 0.00  
c. Class B Additional Interest:
   $ 0.00  
d. Excess Spread:
   $ 450,079.72  
3. Collateral Available Funds:
   $ 540,254.06  
a. Excess Spread:
   $ 540,254.06  
4. Total Excess Spread:
   $ 6,570,119.08  
 
K. Reallocated Principal Collections.
        
1. Principal Allocation Percentage:
     53.8919 %
2. Series 2007-1 Allocable Principal Collections:
   $ 297,238,237.05  
3. Principal Allocation Percentage of Series 2007-1 Allocable Principal Collections:
   $ 160,187,240.09  
4. Reallocated Principal Collections Required to fund the Required Amount:
   $ 0.00  
5. Item 3 minus item 4:
   $ 160,187,240.09  
6. Shared Principal Collections from other Series allocated to Series 2007-1:
   $ 0.00  
7. Other amounts treated as Available Principal Collections:
   $ 1,880,102.47  
8. Available Principal Collections (total of items 5., 6. & 7.):
   $ 162,067,342.56  

- 52 -

 

         
 
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:
   $ 162,067,342.56  
 
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 2007-1.
       
1. Excess Spread:
   $ 6,570,119.08  
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:
   $ 103,405.64  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
   $ 12,675.00  
9. Applied to unpaid Monthly Servicing Fee:
   $ 833,333.33  
10. Collateral Default Amount treated as Available Principal Collections:
   $ 122,206.66  
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):
   $ 5,498,498.45  

- 53 -

 

         
 
N.2. Application of Excess Spread, Excess Finance Charge Collections and Funds from Series 2009-D-II Allocated to Series 2007-1.
        
1. Excess Spread:
   $ 6,570,119.08  
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:
   $ 103,405.64  
8. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
9. Applied to Collateral Minimum Monthly Interest:
   $ 12,675.00  
10. Applied to unpaid Monthly Servicing Fee:
   $ 833,333.33  
11. Collateral Default Amount treated as Available Principal Collections:
   $ 122,206.66  
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):
   $ 5,498,498.45  
 
O. Yield and Base Rate.
        
1. Base Rate:
        
a. Current Monthly Period:
     2.2703 %
b. Prior Monthly Period:
     2.2259 %
c. Second Prior Monthly Period:
     2.2627 %
2. Three Month Average Base Rate:
     2.2530 %
3. Series Adjusted Portfolio Yield:
        
a. Current Monthly Period:
     15.1451 %
b. Prior Monthly Period:
     15.2683 %
c. Second Prior Monthly Period:
     14.1423 %
4. Three Month Average Series Adjusted Portfolio Yield:
     14.8519 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
    Yes  

- 54 -

 

Series 2007-2 Certificates
                         
    Series     Total Investor        
A. Investor/Transferor Allocations   Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
     927,783,751.34       500,000,000.00       427,783,751.34  
Beginning Adjusted Invested Amount
     N/A       500,000,000.00       N/A  
Floating Allocation Percentage
     N/A       53.8919 %     46.1081 %
Principal Allocation Percentage
     N/A       53.8919 %     46.1081 %
Collections of Finance Charge Receivables
     16,174,892.30       8,716,951.70       7,457,940.60  
Collections of Principal Receivables
     297,238,237.05       160,187,240.09       137,050,996.96  
Defaulted Amount
     3,488,657.04       1,880,102.47       1,608,554.57  
 
                        
Ending Invested Amount / Transferor Amount
     926,991,678.77       500,000,000.00       426,991,678.77  
                                 
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
   May 12, 2011     May 12, 2011     May 12, 2011          
Coupon May 16, 2011 - June 14, 2011
     0.24800 %     0.37800 %     0.54800 %        
Monthly Interest Due
     90,933.33       8,662.50       14,841.67       114,437.50  
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
     90,933.33       8,662.50       14,841.67       114,437.50  
Investor Default Amount
     1,654,490.17       103,405.64       122,206.66       1,880,102.47  
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
     2,478,756.83       157,901.47       191,215.00       2,827,873.30  
 
                                
Reallocated Investor Finance Charge Collections
                             8,326,371.75  
Interest and Principal Funding Investment Proceeds
                             0.00  
Interest on Reserve Account
                             0.00  
Series Adjusted Portfolio Yield
                             15.1799 %
Base Rate
                             2.3062 %
Excess Spread Percentage
                             13.1964 %

- 55 -

 

                                 
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
     90,933.33       8,662.50       14,841.67       114,437.50  
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
     90,933.33       8,662.50       14,841.67       114,437.50  
Ending Certificates Balance
     440,000,000.00       27,500,000.00       32,500,000.00       500,000,000.00  
         
 
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  

- 56 -

 

         
 
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  
 
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 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  

- 57 -

 

         
 
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
        
1. The total amount distributed to the Collateral Interest Holder:
   $ 5,513,340.12  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
   $ 14,841.67  
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 distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
   $ 5,498,498.45  
 
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  

- 58 -

 

         
 
J. Application of Reallocated Investor Finance Charge Collections.
        
1. Class A Available Funds:
   $ 7,327,207.14  
a. Class A Monthly Interest:
   $ 90,933.33  
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):
   $ 1,654,490.17  
e. Excess Spread:
   $ 5,581,783.64  
2. Class B Available Funds:
   $ 457,950.45  
a. Class B Monthly Interest:
   $ 8,662.50  
b. Class B Outstanding Monthly Interest:
   $ 0.00  
c. Class B Additional Interest:
   $ 0.00  
d. Excess Spread:
   $ 449,287.95  
3. Collateral Available Funds:
   $ 541,214.16  
a. Excess Spread:
   $ 541,214.16  
4. Total Excess Spread:
   $ 6,572,285.75  
 
K. Reallocated Principal Collections.
        
1. Principal Allocation Percentage:
     53.8919 %
2. Series 2007-2 Allocable Principal Collections:
   $ 297,238,237.05  
3. Principal Allocation Percentage of Series 2007-2 Allocable Principal Collections:
   $ 160,187,240.09  
4. Reallocated Principal Collections Required to fund the Required Amount:
   $ 0.00  
5. Item 3 minus item 4:
   $ 160,187,240.09  
6. Shared Principal Collections from other Series allocated to Series 2007-2:
   $ 0.00  
7. Other amounts treated as Available Principal Collections:
   $ 1,880,102.47  
8. Available Principal Collections (total of items 5., 6. & 7.):
   $ 162,067,342.56  

- 59 -

 

         
 
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:
   $ 162,067,342.56  
 
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:
   $ 6,572,285.75  
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:
   $ 103,405.64  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
   $ 14,841.67  
9. Applied to unpaid Monthly Servicing Fee:
   $ 833,333.33  
10. Collateral Default Amount treated as Available Principal Collections:
   $ 122,206.66  
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):
   $ 5,498,498.45  

- 60 -

 

         
 
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:
   $ 6,572,285.75  
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:
   $ 103,405.64  
8. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
9. Applied to Collateral Minimum Monthly Interest:
   $ 14,841.67  
10. Applied to unpaid Monthly Servicing Fee:
   $ 833,333.33  
11. Collateral Default Amount treated as Available Principal Collections:
   $ 122,206.66  
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):
   $ 5,498,498.45  
 
O. Yield and Base Rate.
        
1. Base Rate:
        
a. Current Monthly Period:
     2.3062 %
b. Prior Monthly Period:
     2.2619 %
c. Second Prior Monthly Period:
     2.2986 %
2. Three Month Average Base Rate:
     2.2889 %
3. Series Adjusted Portfolio Yield:
        
a. Current Monthly Period:
     15.1799 %
b. Prior Monthly Period:
     15.3055 %
c. Second Prior Monthly Period:
     14.1782 %
4. Three Month Average Series Adjusted Portfolio Yield:
     14.8879 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
    Yes  

- 61 -

 

Series 2007-5 Certificates
                                 
            Series     Total Investor        
A. Investor/Transferor Allocations           Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
             927,783,751.34       500,000,000.00       427,783,751.34  
Beginning Adjusted Invested Amount
             N/A       500,000,000.00       N/A  
Floating Allocation Percentage
             N/A       53.8919 %     46.1081 %
Principal Allocation Percentage
             N/A       53.8919 %     46.1081 %
Collections of Finance Charge Receivables
             16,174,892.30       8,716,951.70       7,457,940.60  
Collections of Principal Receivables
             297,238,237.05       160,187,240.09       137,050,996.96  
Defaulted Amount
             3,488,657.04       1,880,102.47       1,608,554.57  
 
                                
Ending Invested Amount / Transferor Amount
             926,991,678.77       500,000,000.00       426,991,678.77  
                                 
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
   May 12, 2011     May 12, 2011     May 12, 2011          
Coupon May 16, 2011 — June 14, 2011
     0.22800 %     0.34800 %     0.54800 %        
Monthly Interest Due
     83,600.00       7,975.00       14,841.67       106,416.67  
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
     83,600.00       7,975.00       14,841.67       106,416.67  
Investor Default Amount
     1,654,490.17       103,405.64       122,206.66       1,880,102.47  
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
     2,471,423.50       157,213.97       191,215.00       2,819,852.47  
 
                                
Reallocated Investor Finance Charge Collections
                             8,318,350.92  
Interest and Principal Funding Investment Proceeds
                             0.00  
Interest on Reserve Account
                             0.00  
Series Adjusted Portfolio Yield
                             15.1610 %
Base Rate
                             2.2867 %
Excess Spread Percentage
                             13.1964 %

- 62 -

 

                                 
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
     83,600.00       7,975.00       14,841.67       106,416.67  
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
     83,600.00       7,975.00       14,841.67       106,416.67  
Ending Certificates Balance
     440,000,000.00       27,500,000.00       32,500,000.00       500,000,000.00  
         
 
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:
   $ 0.19  
2. The amount of the distribution in respect of Class A Monthly Interest:
   $ 0.19  
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  

- 63 -

 

         
 
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:
   $ 0.29  
2. The amount of the distribution in respect of Class B Monthly Interest:
   $ 0.29  
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  
 
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 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  

- 64 -

 

         
 
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
        
1. The total amount distributed to the Collateral Interest Holder:
   $ 5,513,340.12  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
   $ 14,841.67  
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 distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
   $ 5,498,498.45  
 
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  

- 65 -

 

         
 
J. Application of Reallocated Investor Finance Charge Collections.
        
1. Class A Available Funds:
   $ 7,320,148.81  
a. Class A Monthly Interest:
   $ 83,600.00  
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):
   $ 1,654,490.17  
e. Excess Spread:
   $ 5,582,058.64  
2. Class B Available Funds:
   $ 457,509.30  
a. Class B Monthly Interest:
   $ 7,975.00  
b. Class B Outstanding Monthly Interest:
   $ 0.00  
c. Class B Additional Interest:
   $ 0.00  
d. Excess Spread:
   $ 449,534.30  
3. Collateral Available Funds:
   $ 540,692.81  
a. Excess Spread:
   $ 540,692.81  
4. Total Excess Spread:
   $ 6,572,285.75  
 
K. Reallocated Principal Collections.
        
1. Principal Allocation Percentage:
     53.8919 %
2. Series 2007-5 Allocable Principal Collections:
   $ 297,238,237.05  
3. Principal Allocation Percentage of Series 2007-5 Allocable Principal Collections:
   $ 160,187,240.09  
4. Reallocated Principal Collections Required to fund the Required Amount:
   $ 0.00  
5. Item 3 minus item 4:
   $ 160,187,240.09  
6. Shared Principal Collections from other Series allocated to Series 2007-5:
   $ 0.00  
7. Other amounts treated as Available Principal Collections:
   $ 1,880,102.47  
8. Available Principal Collections (total of items 5., 6. & 7.):
   $ 162,067,342.56  

- 66 -

 

         
 
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:
   $ 162,067,342.56  
 
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 2007-5.
       
1. Excess Spread:
   $ 6,572,285.75  
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:
   $ 103,405.64  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
   $ 14,841.67  
9. Applied to unpaid Monthly Servicing Fee:
   $ 833,333.33  
10. Collateral Default Amount treated as Available Principal Collections:
   $ 122,206.66  
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):
   $ 5,498,498.45  

- 67 -

 

         
 
N.2. Application of Excess Spread, Excess Finance Charge Collections and Funds from Series 2009-D-II Allocated to Series 2007-5.
        
1. Excess Spread:
   $ 6,572,285.75  
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:
   $ 103,405.64  
8. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
9. Applied to Collateral Minimum Monthly Interest:
   $ 14,841.67  
10. Applied to unpaid Monthly Servicing Fee:
   $ 833,333.33  
11. Collateral Default Amount treated as Available Principal Collections:
   $ 122,206.66  
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
   $ 5,498,498.45  
Collateral Interest Holder(s):
        
 
O. Yield and Base Rate.
        
1. Base Rate:
        
a. Current Monthly Period:
     2.2867 %
b. Prior Monthly Period:
     2.2424 %
c. Second Prior Monthly Period:
     2.2791 %
2. Three Month Average Base Rate:
     2.2694 %
3. Series Adjusted Portfolio Yield:
        
a. Current Monthly Period:
     15.1610 %
b. Prior Monthly Period:
     15.2853 %
c. Second Prior Monthly Period:
     14.1587 %
4. Three Month Average Series Adjusted Portfolio Yield:
     14.8683 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
    Yes  

- 68 -

 

Series 2007-7 Certificates
                                 
            Series     Total Investor        
A. Investor/Transferor Allocations           Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
             1,670,010,752.40       900,000,000.00       770,010,752.40  
Beginning Adjusted Invested Amount
             N/A       900,000,000.00       N/A  
Floating Allocation Percentage
             N/A       53.8919 %     46.1081 %
Principal Allocation Percentage
             N/A       53.8919 %     46.1081 %
Collections of Finance Charge Receivables
             29,114,806.15       15,690,513.07       13,424,293.08  
Collections of Principal Receivables
             535,028,826.69       288,337,032.16       246,691,794.53  
Defaulted Amount
             6,279,582.67       3,384,184.44       2,895,398.23  
 
Ending Invested Amount / Transferor Amount
             1,668,585,021.78       900,000,000.00       768,585,021.78  
                                 
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
   May 12, 2011     May 12, 2011     May 12, 2011          
Coupon May 16, 2011 - June 14, 2011
     0.23800 %     0.36800 %     0.58800 %        
Monthly Interest Due
     157,080.00       15,180.00       28,665.00       200,925.00  
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
     157,080.00       15,180.00       28,665.00       200,925.00  
Investor Default Amount
     2,978,082.31       186,130.14       219,971.99       3,384,184.44  
Investor Monthly Fees Due
     1,320,000.00       82,500.00       97,500.00       1,500,000.00  
Investor Additional Amounts Due
     0.00       0.00       0.00       0.00  
Total Due
     4,455,162.31       283,810.14       346,136.99       5,085,109.44  
 
Reallocated Investor Finance Charge Collections
                             14,982,406.65  
Interest and Principal Funding Investment Proceeds
                             0.00  
Interest on Reserve Account
                             0.00  
Series Adjusted Portfolio Yield
                             15.1733 %
Base Rate
                             2.2994 %
Excess Spread Percentage
                             13.1964 %

- 69 -

 

                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
     792,000,000.00       49,500,000.00       58,500,000.00       900,000,000.00  
Distributions of Interest
     157,080.00       15,180.00       28,665.00       200,925.00  
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
     157,080.00       15,180.00       28,665.00       200,925.00  
Ending Certificates Balance
     792,000,000.00       49,500,000.00       58,500,000.00       900,000,000.00  
         
 
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:
   $ 0.20  
2. The amount of the distribution in respect of Class A Monthly Interest:
   $ 0.20  
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  

- 70 -

 

         
 
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:
   $ 0.31  
2. The amount of the distribution in respect of Class B Monthly Interest:
   $ 0.31  
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  
 
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 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  

- 71 -

 

         
 
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
        
1. The total amount distributed to the Collateral Interest Holder:
   $ 9,925,962.21  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
   $ 28,665.00  
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 distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
   $ 9,897,297.21  
 
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:
   $ 13,184,517.85  
a. Class A Monthly Interest:
   $ 157,080.00  
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):
   $ 2,978,082.31  
e. Excess Spread:
   $ 10,049,355.54  
2. Class B Available Funds:
   $ 824,032.37  
a. Class B Monthly Interest:
   $ 15,180.00  
b. Class B Outstanding Monthly Interest:
   $ 0.00  
c. Class B Additional Interest:
   $ 0.00  
d. Excess Spread:
   $ 808,852.37  
3. Collateral Available Funds:
   $ 973,856.43  
a. Excess Spread:
   $ 973,856.43  
4. Total Excess Spread:
   $ 11,832,064.34  
 
K. Reallocated Principal Collections.
        
1. Principal Allocation Percentage:
     53.8919 %
2. Series 2007-7 Allocable Principal Collections:
   $ 535,028,826.69  
3. Principal Allocation Percentage of Series 2007-7 Allocable Principal Collections:
   $ 288,337,032.16  
4. Reallocated Principal Collections Required to fund the Required Amount:
   $ 0.00  
5. Item 3 minus item 4:
   $ 288,337,032.16  
6. Shared Principal Collections from other Series allocated to Series 2007-7:
   $ 0.00  
7. Other amounts treated as Available Principal Collections:
   $ 3,384,184.44  
8. Available Principal Collections (total of items 5., 6. & 7.):
   $ 291,721,216.60  

- 73 -

 

         
 
L. Application of Available Principal Collections during Revolving Period.
        
1. Collateral Invested Amount:
   $ 58,500,000.00  
2. Required Collateral Invested Amount:
   $ 58,500,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
   $ 0.00  
4. Treated as Shared Principal Collections:
   $ 291,721,216.60  
 
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 2007-7.
       
1. Excess Spread:
   $ 11,832,064.34  
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:
   $ 186,130.14  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
   $ 28,665.00  
9. Applied to unpaid Monthly Servicing Fee:
   $ 1,500,000.00  
10. Collateral Default Amount treated as Available Principal Collections:
   $ 219,971.99  
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):
   $ 9,897,297.21  

- 74 -

 

         
 
N.2. Application of Excess Spread, Excess Finance Charge Collections and Funds from Series 2009-D-II Allocated to Series 2007-7.
        
1. Excess Spread:
   $ 11,832,064.34  
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:
   $ 186,130.14  
8. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
9. Applied to Collateral Minimum Monthly Interest:
   $ 28,665.00  
10. Applied to unpaid Monthly Servicing Fee:
   $ 1,500,000.00  
11. Collateral Default Amount treated as Available Principal Collections:
   $ 219,971.99  
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
   $ 9,897,297.21  
Collateral Interest Holder(s):
        
 
O. Yield and Base Rate.
        
1. Base Rate:
        
a. Current Monthly Period:
     2.2994 %
b. Prior Monthly Period:
     2.2550 %
c. Second Prior Monthly Period:
     2.2918 %
2. Three Month Average Base Rate:
     2.2821 %
3. Series Adjusted Portfolio Yield:
        
a. Current Monthly Period:
     15.1733 %
b. Prior Monthly Period:
     15.2984 %
c. Second Prior Monthly Period:
     14.1714 %
4. Three Month Average Series Adjusted Portfolio Yield:
     14.8810 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
    Yes  

- 75 -

 

Series 2007-8 Certificates
                                 
            Series Total     Investor        
A. Investor/Transferor Allocations           Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
             2,226,681,003.20       1,200,000,000.00       1,026,681,003.20  
Beginning Adjusted Invested Amount
             N/A       1,200,000,000.00       N/A  
Floating Allocation Percentage
             N/A       53.8919 %     46.1081 %
Principal Allocation Percentage
             N/A       53.8919 %     46.1081 %
Collections of Finance Charge Receivables
             38,819,741.53       20,920,684.09       17,899,057.44  
Collections of Principal Receivables
             713,371,768.93       384,449,376.22       328,922,392.71  
Defaulted Amount
             8,372,776.89       4,512,245.92       3,860,530.97  
Ending Invested Amount / Transferor Amount
             2,224,780,029.04       1,200,000,000.00       1,024,780,029.04  
                                 
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
   May 12, 2011     May 12, 2011     May 12, 2011          
Coupon May 16, 2011 - June 14, 2011
     0.49800 %     0.89800 %     1.49800 %        
Monthly Interest Due
     438,240.00       49,390.00       97,370.00       585,000.00  
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
     438,240.00       49,390.00       97,370.00       585,000.00  
Investor Default Amount
     3,970,776.41       248,173.53       293,295.98       4,512,245.92  
Investor Monthly Fees Due
     1,760,000.00       110,000.00       130,000.00       2,000,000.00  
Investor Additional Amounts Due
     0.00       0.00       0.00       0.00  
 
Total Due
     6,169,016.41       407,563.53       520,665.98       7,097,245.92  
Reallocated Investor Finance Charge Collections
                             20,293,642.21  
Interest and Principal Funding Investment Proceeds
                             0.00  
Interest on Reserve Account
                             0.00  
Series Adjusted Portfolio Yield
                             15.4844 %
Base Rate
                             2.6209 %
Excess Spread Percentage
                             13.1964 %

- 76 -

 

                                 
C. Certificates — Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
     1,056,000,000.00       66,000,000.00       78,000,000.00       1,200,000,000.00  
Distributions of Interest
     438,240.00       49,390.00       97,370.00       585,000.00  
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
     438,240.00       49,390.00       97,370.00       585,000.00  
Ending Certificates Balance
     1,056,000,000.00       66,000,000.00       78,000,000.00       1,200,000,000.00  
               
 
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:
         $ 0.42  
2. The amount of the distribution in respect of Class A Monthly Interest:
         $ 0.42  
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  

- 77 -

 

         
 
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  
 
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 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  

- 78 -

 

         
 
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
        
1. The total amount distributed to the Collateral Interest Holder:
   $ 13,293,766.28  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
   $ 97,370.00  
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 distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
   $ 13,196,396.28  
 
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  

- 79 -

 

         
 
J. Application of Reallocated Investor Finance Charge Collections.
        
1. Class A Available Funds:
   $ 17,858,405.14  
a. Class A Monthly Interest:
   $ 438,240.00  
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):
   $ 3,970,776.41  
e. Excess Spread:
   $ 13,449,388.73  
2. Class B Available Funds:
   $ 1,116,150.32  
a. Class B Monthly Interest:
   $ 49,390.00  
b. Class B Outstanding Monthly Interest:
   $ 0.00  
c. Class B Additional Interest:
   $ 0.00  
d. Excess Spread:
   $ 1,066,760.32  
3. Collateral Available Funds:
   $ 1,319,086.74  
a. Excess Spread:
   $ 1,319,086.74  
4. Total Excess Spread:
   $ 15,835,235.79  
 
K. Reallocated Principal Collections.
        
1. Principal Allocation Percentage:
     53.8919 %
2. Series 2007-8 Allocable Principal Collections:
   $ 713,371,768.93  
3. Principal Allocation Percentage of Series 2007-8 Allocable Principal Collections:
   $ 384,449,376.22  
4. Reallocated Principal Collections Required to fund the Required Amount:
   $ 0.00  
5. Item 3 minus item 4:
   $ 384,449,376.22  
6. Shared Principal Collections from other Series allocated to Series 2007-8:
   $ 0.00  
7. Other amounts treated as Available Principal Collections:
   $ 4,512,245.92  
8. Available Principal Collections (total of items 5., 6. & 7.):
   $ 388,961,622.14  

- 80 -

 

         
 
L. Application of Available Principal Collections during Revolving Period.
        
1. Collateral Invested Amount:
   $ 78,000,000.00  
2. Required Collateral Invested Amount:
   $ 78,000,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
   $ 0.00  
4. Treated as Shared Principal Collections:
   $ 388,961,622.14  
 
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 2007-8.
        
1. Excess Spread:
   $ 15,835,235.79  
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:
   $ 248,173.53  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
   $ 97,370.00  
9. Applied to unpaid Monthly Servicing Fee:
   $ 2,000,000.00  
10. Collateral Default Amount treated as Available Principal Collections:
   $ 293,295.98  
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):
   $ 13,196,396.28  

- 81 -

 

         
 
N.2. Application of Excess Spread, Excess Finance Charge Collections and Funds from Series 2009-D-II Allocated to Series 2007-8.
        
1. Excess Spread:
   $ 15,835,235.79  
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:
   $ 248,173.53  
8. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
9. Applied to Collateral Minimum Monthly Interest:
   $ 97,370.00  
10. Applied to unpaid Monthly Servicing Fee:
   $ 2,000,000.00  
11. Collateral Default Amount treated as Available Principal Collections:
   $ 293,295.98  
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):
   $ 13,196,396.28  
 
        
 
        
O. Yield and Base Rate.
        
1. Base Rate:
        
a. Current Monthly Period:
     2.6209 %
b. Prior Monthly Period:
     2.5765 %
c. Second Prior Monthly Period:
     2.6133 %
2. Three Month Average Base Rate:
     2.6036 %
3. Series Adjusted Portfolio Yield:
        
a. Current Monthly Period:
     15.4844 %
b. Prior Monthly Period:
     15.6306 %
c. Second Prior Monthly Period:
     14.4929 %
4. Three Month Average Series Adjusted Portfolio Yield:
     15.2026 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
   Yes  

- 82 -

 

Series 2008-2 Certificates
                                 
            Series     Total Investor        
A. Investor/Transferor Allocations           Allocations     Interest     Transferors’ Interest    
Beginning Invested Amount/Transferor Amount
             2,530,322,358.21       1,363,638,000.00       1,166,684,358.21  
Beginning Adjusted Invested Amount
             N/A       1,363,638,000.00       N/A  
Floating Allocation Percentage
             N/A       53.8919 %     46.1081 %
Principal Allocation Percentage
             N/A       53.8919 %     46.1081 %
Collections of Finance Charge Receivables
             44,113,395.58       23,773,533.17       20,339,862.41  
Collections of Principal Receivables
             810,650,710.20       436,874,815.40       373,775,894.80  
Defaulted Amount
             9,514,530.61       5,127,558.33       4,386,972.28  
 
                                
Ending Invested Amount / Transferor Amount
             2,528,162,157.70       1,363,638,000.00       1,164,524,157.70  
                                 
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
   May 12, 2011     May 12, 2011     May 12, 2011          
Coupon May 16, 2011 - June 14, 2011
     1.45800 %     3.94800 %     5.19800 %        
Monthly Interest Due
     1,458,000.00       246,753.29       383,945.94       2,088,699.23  
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
     1,458,000.00       246,753.29       383,945.94       2,088,699.23  
Investor Default Amount
     4,512,245.92       282,019.13       333,293.28       5,127,558.33  
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
     7,970,245.92       653,774.09       864,967.55       9,488,987.56  
 
Reallocated Investor Finance Charge Collections
                             24,484,910.42  
Interest and Principal Funding Investment Proceeds
                             0.00  
Interest on Reserve Account
                             0.00  
Series Adjusted Portfolio Yield
                             16.7139 %
Base Rate
                             3.8914 %
Excess Spread Percentage
                             13.1964 %

- 83 -

 

                                 
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
     1,458,000.00       246,753.29       383,945.94       2,088,699.23  
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
     1,458,000.00       246,753.29       383,945.94       2,088,699.23  
Ending Certificates Balance
     1,200,000,000.00       75,001,000.00       88,637,000.00       1,363,638,000.00  
         
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  

- 84 -

 

         
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  
 
        
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 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  

- 85 -

 

         
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
        
1. The total amount distributed to the Collateral Interest Holder:
   $ 15,379,868.79  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
   $ 383,945.94  
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 distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
   $ 14,995,922.85  
 
        
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  

- 86 -

 

         
 
J. Application of Reallocated Investor Finance Charge Collections.
        
1. Class A Available Funds:
   $ 21,546,695.31  
a. Class A Monthly Interest:
   $ 1,458,000.00  
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):
   $ 4,512,245.92  
e. Excess Spread:
   $ 15,576,449.39  
2. Class B Available Funds:
   $ 1,346,686.41  
a. Class B Monthly Interest:
   $ 246,753.29  
b. Class B Outstanding Monthly Interest:
   $ 0.00  
c. Class B Additional Interest:
   $ 0.00  
d. Excess Spread:
   $ 1,099,933.12  
3. Collateral Available Funds:
   $ 1,591,528.69  
a. Excess Spread:
   $ 1,591,528.69  
4. Total Excess Spread:
   $ 18,267,911.20  
 
K. Reallocated Principal Collections.
        
1. Principal Allocation Percentage:
     53.8919 %
2. Series 2008-2 Allocable Principal Collections:
   $ 810,650,710.20  
3. Principal Allocation Percentage of Series 2008-2 Allocable Principal Collections:
   $ 436,874,815.40  
4. Reallocated Principal Collections Required to fund the Required Amount:
   $ 0.00  
5. Item 3 minus item 4:
   $ 436,874,815.40  
6. Shared Principal Collections from other Series allocated to Series 2008-2:
   $ 0.00  
7. Other amounts treated as Available Principal Collections:
   $ 5,127,558.33  
8. Available Principal Collections (total of items 5., 6. & 7.):
   $ 442,002,373.73  

- 87 -

 

         
 
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:
   $ 442,002,373.73  
 
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.1. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2008-2.
       
1. Excess Spread:
   $ 18,267,911.20  
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:
   $ 282,019.13  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
   $ 383,945.94  
9. Applied to unpaid Monthly Servicing Fee:
   $ 2,272,730.00  
10. Collateral Default Amount treated as Available Principal Collections:
   $ 333,293.28  
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):
   $ 14,995,922.85  

- 88 -

 

         
 
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:
   $ 18,267,911.20  
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:
   $ 282,019.13  
8. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
9. Applied to Collateral Minimum Monthly Interest:
   $ 383,945.94  
10. Applied to unpaid Monthly Servicing Fee:
   $ 2,272,730.00  
11. Collateral Default Amount treated as Available Principal Collections:
   $ 333,293.28  
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
   $ 14,995,922.85  
Collateral Interest Holder(s):
        
 
O. Yield and Base Rate.
        
1. Base Rate:
        
a. Current Monthly Period:
     3.8914 %
b. Prior Monthly Period:
     3.8470 %
c. Second Prior Monthly Period:
     3.8837 %
2. Three Month Average Base Rate:
     3.8740 %
3. Series Adjusted Portfolio Yield:
        
a. Current Monthly Period:
     16.7139 %
b. Prior Monthly Period:
     16.9434 %
c. Second Prior Monthly Period:
     15.7633 %
4. Three Month Average Series Adjusted Portfolio Yield:
     16.4736 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
    Yes  

- 89 -

 

Series 2008-4 Certificates
                                 
            Series     Total Investor        
A. Investor/Transferor Allocations           Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
             1,128,103,396.65       607,956,000.00       520,147,396.65  
Beginning Adjusted Invested Amount
             N/A       607,956,000.00       N/A  
Floating Allocation Percentage
             N/A       53.8919 %     46.1081 %
Principal Allocation Percentage
             N/A       53.8919 %     46.1081 %
Collections of Finance Charge Receivables
             19,667,245.65       10,599,046.18       9,068,199.47  
Collections of Principal Receivables
             361,415,539.29       194,773,587.47       166,641,951.82  
Defaulted Amount
             4,241,899.96       2,286,039.15       1,955,860.81  
 
Ending Invested Amount / Transferor Amount
             1,127,140,306.11       607,956,000.00       519,184,306.11  
                                 
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
  May 12, 2011     May 12, 2011     May 12, 2011          
Coupon May 16, 2011 - June 14, 2011
     1.59800 %     4.44800 %     6.69800 %        
Monthly Interest Due
     712,441.67       123,943.52       220,576.30       1,056,961.49  
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
     712,441.67       123,943.52       220,576.30       1,056,961.49  
Investor Default Amount
     2,011,709.64       125,733.73       148,595.78       2,286,039.15  
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
     3,615,817.98       305,407.25       435,035.41       4,356,260.64  
 
Reallocated Investor Finance Charge Collections
                             11,041,950.89  
Interest and Principal Funding Investment Proceeds
                             0.00  
Interest on Reserve Account
                             0.00  
Series Adjusted Portfolio Yield
                             16.9574 %
Base Rate
                             4.1430 %
Excess Spread Percentage
                             13.1964 %

- 90 -

 

                                 
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
     712,441.67       123,943.52       220,576.30       1,056,961.49  
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
     712,441.67       123,943.52       220,576.30       1,056,961.49  
Ending Certificates Balance
     535,000,000.00       33,438,000.00       39,518,000.00       607,956,000.00  
         
 
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  

- 91 -

 

         
 
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:
   $ 3.71  
2. The amount of the distribution in respect of Class B Monthly Interest:
   $ 3.71  
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  
 
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 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  

- 92 -

 

         
 
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
        
1. The total amount distributed to the Collateral Interest Holder:
   $ 6,906,266.56  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
   $ 220,576.30  
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 distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
   $ 6,685,690.26  
 
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  

- 93 -

 

         
 
J. Application of Reallocated Investor Finance Charge Collections.
        
1. Class A Available Funds:
   $ 9,716,893.54  
a. Class A Monthly Interest:
   $ 712,441.67  
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):
   $ 2,011,709.64  
e. Excess Spread:
   $ 6,992,742.23  
2. Class B Available Funds:
   $ 607,314.93  
a. Class B Monthly Interest:
   $ 123,943.52  
b. Class B Outstanding Monthly Interest:
   $ 0.00  
c. Class B Additional Interest:
   $ 0.00  
d. Excess Spread:
   $ 483,371.41  
3. Collateral Available Funds:
   $ 717,742.43  
a. Excess Spread:
   $ 717,742.43  
4. Total Excess Spread:
   $ 8,193,856.07  
 
K. Reallocated Principal Collections.
        
1. Principal Allocation Percentage:
     53.8919 %
2. Series 2008-4 Allocable Principal Collections:
   $ 361,415,539.29  
3. Principal Allocation Percentage of Series 2008-4 Allocable Principal Collections:
   $ 194,773,587.47  
4. Reallocated Principal Collections Required to fund the Required Amount:
   $ 0.00  
5. Item 3 minus item 4:
   $ 194,773,587.47  
6. Shared Principal Collections from other Series allocated to Series 2008-4:
   $ 0.00  
7. Other amounts treated as Available Principal Collections:
   $ 2,286,039.15  
8. Available Principal Collections (total of items 5., 6. & 7.):
   $ 197,059,626.62  

- 94 -

 

         
 
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:
   $ 197,059,626.62  
 
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:
   $ 8,193,856.07  
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:
   $ 125,733.73  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
   $ 220,576.30  
9. Applied to unpaid Monthly Servicing Fee:
   $ 1,013,260.00  
10. Collateral Default Amount treated as Available Principal Collections:
   $ 148,595.78  
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):
   $ 6,685,690.26  

- 95 -

 

         
 
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:
   $ 8,193,856.07  
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:
   $ 125,733.73  
8. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
9. Applied to Collateral Minimum Monthly Interest:
   $ 220,576.30  
10. Applied to unpaid Monthly Servicing Fee:
   $ 1,013,260.00  
11. Collateral Default Amount treated as Available Principal Collections:
   $ 148,595.78  
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):
   $ 6,685,690.26  
 
O. Yield and Base Rate.
        
1. Base Rate:
        
a. Current Monthly Period:
     4.1430 %
b. Prior Monthly Period:
     4.0986 %
c. Second Prior Monthly Period:
     4.1354 %
2. Three Month Average Base Rate:
     4.1257 %
3. Series Adjusted Portfolio Yield:
        
a. Current Monthly Period:
     16.9574 %
b. Prior Monthly Period:
     17.2035 %
c. Second Prior Monthly Period:
     16.0150 %
4. Three Month Average Series Adjusted Portfolio Yield:
     16.7253 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
    Yes  

- 96 -

 

Series 2008-5 Certificates
                         
    Series     Total Investor        
A. Investor/Transferor Allocations   Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
     1,686,879,716.57       909,091,000.00       777,788,716.57  
Beginning Adjusted Invested Amount
     N/A       909,091,000.00       N/A  
Floating Allocation Percentage
     N/A       53.8919 %     46.1081 %
Principal Allocation Percentage
     N/A       53.8919 %     46.1081 %
Collections of Finance Charge Receivables
     29,408,898.04       15,849,004.68       13,559,893.36  
Collections of Principal Receivables
     540,433,212.32       291,249,556.56       249,183,655.76  
Defaulted Amount
     6,343,013.43       3,418,368.46       2,924,644.97  
 
                        
Ending Invested Amount / Transferor Amount
     1,685,439,584.48       909,091,000.00       776,348,584.48  
                                 
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
   May 12, 2011     May 12, 2011     May 12, 2011          
Coupon May 16, 2011 - June 14, 2011
     0.99800 %     1.29800 %     3.99800 %        
Monthly Interest Due
     665,333.33       54,083.33       196,871.52       916,288.18  
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
     665,333.33       54,083.33       196,871.52       916,288.18  
Investor Default Amount
     3,008,163.94       188,010.25       222,194.27       3,418,368.46  
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
     5,006,830.60       325,426.91       517,550.79       5,849,808.30  
 
                                
Reallocated Investor Finance Charge Collections
                             15,847,079.21  
Interest and Principal Funding Investment Proceeds
                             0.00  
Interest on Reserve Account
                             0.00  
Series Adjusted Portfolio Yield
                             16.0972 %
Base Rate
                             3.2541 %
Excess Spread Percentage
                             13.1964 %

- 97 -

 

                                 
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
     665,333.33       54,083.33       196,871.52       916,288.18  
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
     665,333.33       54,083.33       196,871.52       916,288.18  
Ending Certificates Balance
     800,000,000.00       50,000,000.00       59,091,000.00       909,091,000.00  
         
 
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  

- 98 -

 

         
 
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  
 
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 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  

- 99 -

 

         
 
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
        
1. The total amount distributed to the Collateral Interest Holder:
   $ 10,194,142.43  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
   $ 196,871.52  
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 distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
   $ 9,997,270.91  
 
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  

- 100 -

 

         
 
J. Application of Reallocated Investor Finance Charge Collections.
        
1. Class A Available Funds:
   $ 13,945,428.31  
a. Class A Monthly Interest:
   $ 665,333.33  
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):
   $ 3,008,163.94  
e. Excess Spread:
   $ 10,271,931.04  
2. Class B Available Funds:
   $ 871,589.27  
a. Class B Monthly Interest:
   $ 54,083.33  
b. Class B Outstanding Monthly Interest:
   $ 0.00  
c. Class B Additional Interest:
   $ 0.00  
d. Excess Spread:
   $ 817,505.94  
3. Collateral Available Funds:
   $ 1,030,061.63  
a. Excess Spread:
   $ 1,030,061.63  
4. Total Excess Spread:
   $ 12,119,498.61  
 
K. Reallocated Principal Collections.
        
1. Principal Allocation Percentage:
     53.8919 %
2. Series 2008-5 Allocable Principal Collections:
   $ 540,433,212.32  
3. Principal Allocation Percentage of Series 2008-5 Allocable Principal Collections:
   $ 291,249,556.56  
4. Reallocated Principal Collections Required to fund the Required Amount:
   $ 0.00  
5. Item 3 minus item 4:
   $ 291,249,556.56  
6. Shared Principal Collections from other Series allocated to Series 2008-5:
   $ 0.00  
7. Other amounts treated as Available Principal Collections:
   $ 3,418,368.46  
8. Available Principal Collections (total of items 5., 6. & 7.):
   $ 294,667,925.02  

- 101 -

 

         
 
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:
   $ 294,667,925.02  
 
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:
   $ 12,119,498.61  
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:
   $ 188,010.25  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
   $ 196,871.52  
9. Applied to unpaid Monthly Servicing Fee:
   $ 1,515,151.66  
10. Collateral Default Amount treated as Available Principal Collections:
   $ 222,194.27  
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):
   $ 9,997,270.91  

- 102 -

 

         
 
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:
   $ 12,119,498.61  
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:
   $ 188,010.25  
8. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
9. Applied to Collateral Minimum Monthly Interest:
   $ 196,871.52  
10. Applied to unpaid Monthly Servicing Fee:
   $ 1,515,151.66  
11. Collateral Default Amount treated as Available Principal Collections:
   $ 222,194.27  
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):
   $ 9,997,270.91  
 
O. Yield and Base Rate.
        
1. Base Rate:
        
a. Current Monthly Period:
     3.2541 %
b. Prior Monthly Period:
     3.2097 %
c. Second Prior Monthly Period:
     3.2465 %
2. Three Month Average Base Rate:
     3.2367 %
3. Series Adjusted Portfolio Yield:
        
a. Current Monthly Period:
     16.0972 %
b. Prior Monthly Period:
     16.2849 %
c. Second Prior Monthly Period:
     15.1261 %
4. Three Month Average Series Adjusted Portfolio Yield:
     15.8360 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
    Yes  

- 103 -

 

Series 2008-6 Certificates
                         
    Series     Total Investor        
A. Investor/Transferor Allocations   Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
     2,846,609,405.74       1,534,091,000.00       1,312,518,405.74  
Beginning Adjusted Invested Amount
     N/A       1,534,091,000.00       N/A  
Floating Allocation Percentage
     N/A       53.8919 %     46.1081 %
Principal Allocation Percentage
     N/A       53.8919 %     46.1081 %
Collections of Finance Charge Receivables
     49,627,513.42       26,745,194.31       22,882,319.11  
Collections of Principal Receivables
     911,981,008.64       491,483,606.67       420,497,401.97  
Defaulted Amount
     10,703,834.73       5,768,496.55       4,935,338.18  
 
                        
Ending Invested Amount / Transferor Amount
     2,844,179,182.94       1,534,091,000.00       1,310,088,182.94  
                                 
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
   May 12, 2011     May 12, 2011     May 12, 2011          
Coupon May 16, 2011 - June 14, 2011
     1.39800 %     3.19800 %     4.69800 %        
Monthly Interest Due
     1,572,750.00       224,859.38       390,388.14       2,187,997.52  
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
     1,572,750.00       224,859.38       390,388.14       2,187,997.52  
Investor Default Amount
     5,076,276.66       317,267.29       374,952.60       5,768,496.55  
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
     8,899,026.66       682,751.67       931,534.07       10,513,312.40  
 
                                
Reallocated Investor Finance Charge Collections
                             27,383,706.38  
Interest and Principal Funding Investment Proceeds
                             0.00  
Interest on Reserve Account
                             0.00  
Series Adjusted Portfolio Yield
                             16.5897 %
Base Rate
                             3.7630 %
Excess Spread Percentage
                             13.1964 %

- 104 -

 

                                 
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
     1,572,750.00       224,859.38       390,388.14       2,187,997.52  
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
     1,572,750.00       224,859.38       390,388.14       2,187,997.52  
Ending Certificates Balance
     1,350,000,000.00       84,375,000.00       99,716,000.00       1,534,091,000.00  
         
 
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  

- 105 -

 

         
 
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  
 
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 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  

- 106 -

 

         
 
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
        
1. The total amount distributed to the Collateral Interest Holder:
   $ 17,260,782.12  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
   $ 390,388.14  
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 distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
   $ 16,870,393.98  
 
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  

- 107 -

 

         
 
J. Application of Reallocated Investor Finance Charge Collections.
        
1. Class A Available Funds:
   $ 24,097,660.19  
a. Class A Monthly Interest:
   $ 1,572,750.00  
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):
   $ 5,076,276.66  
e. Excess Spread:
   $ 17,448,633.53  
2. Class B Available Funds:
   $ 1,506,103.76  
a. Class B Monthly Interest:
   $ 224,859.38  
b. Class B Outstanding Monthly Interest:
   $ 0.00  
c. Class B Additional Interest:
   $ 0.00  
d. Excess Spread:
   $ 1,281,244.38  
3. Collateral Available Funds:
   $ 1,779,942.43  
a. Excess Spread:
   $ 1,779,942.43  
4. Total Excess Spread:
   $ 20,509,820.34  
 
K. Reallocated Principal Collections.
        
1. Principal Allocation Percentage:
     53.8919 %
2. Series 2008-6 Allocable Principal Collections:
   $ 911,981,008.64  
3. Principal Allocation Percentage of Series 2008-6 Allocable Principal Collections:
   $ 491,483,606.67  
4. Reallocated Principal Collections Required to fund the Required Amount:
   $ 0.00  
5. Item 3 minus item 4:
   $ 491,483,606.67  
6. Shared Principal Collections from other Series allocated to Series 2008-6:
   $ 0.00  
7. Other amounts treated as Available Principal Collections:
   $ 5,768,496.55  
8. Available Principal Collections (total of items 5., 6. & 7.):
   $ 497,252,103.22  

- 108 -

 

         
 
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:
   $ 497,252,103.22  
 
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:
   $ 20,509,820.34  
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:
   $ 317,267.29  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
   $ 390,388.14  
9. Applied to unpaid Monthly Servicing Fee:
   $ 2,556,818.33  
10. Collateral Default Amount treated as Available Principal Collections:
   $ 374,952.60  
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):
   $ 16,870,393.98  

- 109 -

 

         
 
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:
   $ 20,509,820.34  
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:
   $ 317,267.29  
8. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
9. Applied to Collateral Minimum Monthly Interest:
   $ 390,388.14  
10. Applied to unpaid Monthly Servicing Fee:
   $ 2,556,818.33  
11. Collateral Default Amount treated as Available Principal Collections:
   $ 374,952.60  
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):
   $ 16,870,393.98  
 
O. Yield and Base Rate.
        
1. Base Rate:
        
a. Current Monthly Period:
     3.7630 %
b. Prior Monthly Period:
     3.7187 %
c. Second Prior Monthly Period:
     3.7554 %
2. Three Month Average Base Rate:
     3.7457 %
3. Series Adjusted Portfolio Yield:
        
a. Current Monthly Period:
     16.5897 %
b. Prior Monthly Period:
     16.8108 %
c. Second Prior Monthly Period:
     15.6350 %
4. Three Month Average Series Adjusted Portfolio Yield:
     16.3452 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
    Yes  

- 110 -

 

Series 2008-7 Certificates
                         
    Series     Total Investor        
A. Investor/Transferor Allocations   Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
     1,107,016,727.55       596,592,000.00       510,424,727.55  
Beginning Adjusted Invested Amount
     N/A       596,592,000.00       N/A  
Floating Allocation Percentage
     N/A       53.8919 %     46.1081 %
Principal Allocation Percentage
     N/A       53.8919 %     46.1081 %
Collections of Finance Charge Receivables
     19,299,622.70       10,400,927.30       8,898,695.40  
Collections of Principal Receivables
     354,659,908.64       191,132,851.88       163,527,056.76  
Defaulted Amount
     4,162,609.76       2,243,308.18       1,919,301.58  
 
                        
Ending Invested Amount / Transferor Amount
     1,106,071,639.24       596,592,000.00       509,479,639.24  
                                 
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
   May 12, 2011     May 12, 2011     May 12, 2011          
Coupon May 16, 2011 - June 14, 2011
     1.49800 %     1.29800 %     4.94800 %        
Monthly Interest Due
     655,375.00       35,492.73       159,898.74       850,766.47  
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
     655,375.00       35,492.73       159,898.74       850,766.47  
Investor Default Amount
     1,974,107.59       123,383.60       145,816.99       2,243,308.18  
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
     3,504,482.59       213,564.66       370,347.40       4,088,394.65  
 
                                
Reallocated Investor Finance Charge Collections
                             10,649,115.03  
Interest and Principal Funding Investment Proceeds
                             0.00  
Interest on Reserve Account
                             0.00  
Series Adjusted Portfolio Yield
                             16.5895 %
Base Rate
                             3.7628 %
Excess Spread Percentage
                             13.1964 %

- 111 -

 

                                 
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
     655,375.00       35,492.73       159,898.74       850,766.47  
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
     655,375.00       35,492.73       159,898.74       850,766.47  
Ending Certificates Balance
     525,000,000.00       32,813,000.00       38,779,000.00       596,592,000.00  
         
 
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  

- 112 -

 

         
 
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  
 
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 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  

- 113 -

 

         
 
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
        
1. The total amount distributed to the Collateral Interest Holder:
   $ 6,720,619.12  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
   $ 159,898.74  
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 distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
   $ 6,560,720.38  
 
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  

- 114 -

 

         
 
J. Application of Reallocated Investor Finance Charge Collections.
        
1. Class A Available Funds:
   $ 9,371,204.09  
a. Class A Monthly Interest:
   $ 655,375.00  
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):
   $ 1,974,107.59  
e. Excess Spread:
   $ 6,741,721.50  
2. Class B Available Funds:
   $ 585,709.18  
a. Class B Monthly Interest:
   $ 35,492.73  
b. Class B Outstanding Monthly Interest:
   $ 0.00  
c. Class B Additional Interest:
   $ 0.00  
d. Excess Spread:
   $ 550,216.45  
3. Collateral Available Funds:
   $ 692,201.76  
a. Excess Spread:
   $ 692,201.76  
4. Total Excess Spread:
   $ 7,984,139.71  
 
K. Reallocated Principal Collections.
        
1. Principal Allocation Percentage:
     53.8919 %
2. Series 2008-7 Allocable Principal Collections:
   $ 354,659,908.64  
3. Principal Allocation Percentage of Series 2008-7 Allocable Principal Collections:
   $ 191,132,851.88  
4. Reallocated Principal Collections Required to fund the Required Amount:
   $ 0.00  
5. Item 3 minus item 4:
   $ 191,132,851.88  
6. Shared Principal Collections from other Series allocated to Series 2008-7:
   $ 0.00  
7. Other amounts treated as Available Principal Collections:
   $ 2,243,308.18  
8. Available Principal Collections (total of items 5., 6. & 7.):
   $ 193,376,160.06  

- 115 -

 

         
 
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:
   $ 193,376,160.06  
 
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:
   $ 7,984,139.71  
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:
   $ 123,383.60  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
   $ 159,898.74  
9. Applied to unpaid Monthly Servicing Fee:
   $ 994,320.00  
10. Collateral Default Amount treated as Available Principal Collections:
   $ 145,816.99  
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):
   $ 6,560,720.38  

- 116 -

 

         
 
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:
   $ 7,984,139.71  
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:
   $ 123,383.60  
8. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
9. Applied to Collateral Minimum Monthly Interest:
   $ 159,898.74  
10. Applied to unpaid Monthly Servicing Fee:
   $ 994,320.00  
11. Collateral Default Amount treated as Available Principal Collections:
   $ 145,816.99  
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):
   $ 6,560,720.38  
 
O. Yield and Base Rate.
        
1. Base Rate:
        
a. Current Monthly Period:
     3.7628 %
b. Prior Monthly Period:
     3.7184 %
c. Second Prior Monthly Period:
     3.7552 %
2. Three Month Average Base Rate:
     3.7455 %
3. Series Adjusted Portfolio Yield:
        
a. Current Monthly Period:
     16.5895 %
b. Prior Monthly Period:
     16.8106 %
c. Second Prior Monthly Period:
     15.6348 %
4. Three Month Average Series Adjusted Portfolio Yield:
     16.3449 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
    Yes  

- 117 -

 

Series 2008-9 Certificates
                         
    Series     Total Investor        
A. Investor/Transferor Allocations   Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
     1,159,729,689.17       625,000,000.00       534,729,689.17  
Beginning Adjusted Invested Amount
     N/A       625,000,000.00       N/A  
Floating Allocation Percentage
     N/A       53.8919 %     46.1081 %
Principal Allocation Percentage
     N/A       53.8919 %     46.1081 %
Collections of Finance Charge Receivables
     20,218,615.38       10,896,189.63       9,322,425.75  
Collections of Principal Receivables
     371,547,796.32       200,234,050.11       171,313,746.21  
Defaulted Amount
     4,360,821.30       2,350,128.08       2,010,693.22  
 
                        
Ending Invested Amount / Transferor Amount
     1,158,739,598.46       625,000,000.00       533,739,598.46  
                                 
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
   May 12, 2011     May 12, 2011     May 12, 2011          
Coupon May 16, 2011 - June 14, 2011
     1.79800 %     1.29800 %     5.94800 %        
Monthly Interest Due
     824,083.33       37,182.29       201,364.58       1,062,630.20  
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
     824,083.33       37,182.29       201,364.58       1,062,630.20  
Investor Default Amount
     2,068,112.71       129,257.04       152,758.33       2,350,128.08  
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
     3,808,862.71       223,731.00       421,831.24       4,454,424.95  
Reallocated Investor Finance Charge Collections
                             11,327,548.02  
Interest and Principal Funding Investment Proceeds
                             0.00  
Interest on Reserve Account
                             0.00  
Series Adjusted Portfolio Yield
                             16.9123 %
Base Rate
                             4.0964 %
Excess Spread Percentage
                             13.1964 %

- 118 -

 

                                 
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
     824,083.33       37,182.29       201,364.58       1,062,630.20  
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
     824,083.33       37,182.29       201,364.58       1,062,630.20  
Ending Certificates Balance
     550,000,000.00       34,375,000.00       40,625,000.00       625,000,000.00  
         
 
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  

- 119 -

 

         
 
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  
 
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 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  

- 120 -

 

         
 
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
        
1. The total amount distributed to the Collateral Interest Holder:
   $ 7,074,487.65  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest:
   $ 201,364.58  
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 distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
   $ 6,873,123.07  
 
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  

- 121 -

 

         
 
J. Application of Reallocated Investor Finance Charge Collections.
        
1. Class A Available Funds:
   $ 9,968,242.26  
a. Class A Monthly Interest:
   $ 824,083.33  
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):
   $ 2,068,112.71  
e. Excess Spread:
   $ 7,076,046.22  
2. Class B Available Funds:
   $ 623,015.14  
a. Class B Monthly Interest:
   $ 37,182.29  
b. Class B Outstanding Monthly Interest:
   $ 0.00  
c. Class B Additional Interest:
   $ 0.00  
d. Excess Spread:
   $ 585,832.85  
3. Collateral Available Funds:
   $ 736,290.62  
a. Excess Spread:
   $ 736,290.62  
4. Total Excess Spread:
   $ 8,398,169.69  
 
K. Reallocated Principal Collections.
        
1. Principal Allocation Percentage:
     53.8919 %
2. Series 2008-9 Allocable Principal Collections:
   $ 371,547,796.32  
3. Principal Allocation Percentage of Series 2008-9 Allocable Principal Collections:
   $ 200,234,050.11  
4. Reallocated Principal Collections Required to fund the Required Amount:
   $ 0.00  
5. Item 3 minus item 4:
   $ 200,234,050.11  
6. Shared Principal Collections from other Series allocated to Series 2008-9:
   $ 0.00  
7. Other amounts treated as Available Principal Collections:
   $ 2,350,128.08  
8. Available Principal Collections (total of items 5., 6. & 7.):
   $ 202,584,178.19  

- 122 -

 

         
 
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:
   $ 202,584,178.19  
 
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:
   $ 8,398,169.69  
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:
   $ 129,257.04  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
8. Applied to Collateral Minimum Monthly Interest:
   $ 201,364.58  
9. Applied to unpaid Monthly Servicing Fee:
   $ 1,041,666.67  
10. Collateral Default Amount treated as Available Principal Collections:
   $ 152,758.33  
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):
   $ 6,873,123.07  

- 123 -

 

         
 
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:
   $ 8,398,169.69  
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:
   $ 129,257.04  
8. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
9. Applied to Collateral Minimum Monthly Interest:
   $ 201,364.58  
10. Applied to unpaid Monthly Servicing Fee:
   $ 1,041,666.67  
11. Collateral Default Amount treated as Available Principal Collections:
   $ 152,758.33  
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
   $ 6,873,123.07  
Collateral Interest Holder(s):
        
 
O. Yield and Base Rate.
        
1. Base Rate:
        
a. Current Monthly Period:
     4.0964 %
b. Prior Monthly Period:
     4.0520 %
c. Second Prior Monthly Period:
     4.0887 %
2. Three Month Average Base Rate:
     4.0790 %
3. Series Adjusted Portfolio Yield:
        
a. Current Monthly Period:
     16.9123 %
b. Prior Monthly Period:
     17.1553 %
c. Second Prior Monthly Period:
     15.9683 %
4. Three Month Average Series Adjusted Portfolio Yield:
     16.6786 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
    Yes  

- 124 -

 

Series 2009-1 Certificates
                         
    Series     Total Investor        
A. Investor/Transferor Allocations   Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
     2,249,174,192.47       1,212,122,000.00       1,037,052,192.47  
Beginning Adjusted Invested Amount
     N/A       1,212,122,000.00       N/A  
Floating Allocation Percentage
     N/A       53.8919 %     46.1081 %
Principal Allocation Percentage
     N/A       53.8919 %     46.1081 %
Collections of Finance Charge Receivables
     39,211,885.62       21,132,017.87       18,079,867.75  
Collections of Principal Receivables
     720,578,012.74       388,332,955.66       332,245,057.08  
Defaulted Amount
     8,457,355.89       4,557,827.12       3,899,528.77  
 
                        
Ending Invested Amount / Transferor Amount
     2,247,254,015.30       1,212,122,000.00       1,035,132,015.30  
                                 
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
   May 12, 2011     May 12, 2011     May 12, 2011          
Coupon May 16, 2011 - June 14, 2011
     1.54800 %     6.19800 %     13.69812 %        
Monthly Interest Due
     1,290,000.00       375,634.96       1,591,208.09       3,256,843.05  
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
     1,290,000.00       375,634.96       1,591,208.09       3,256,843.05  
Investor Default Amount
     3,760,204.93       273,468.42       524,153.77       4,557,827.12  
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
     6,716,871.60       770,315.05       2,347,686.86       9,834,873.51  
 
                                
Reallocated Investor Finance Charge Collections
                             23,164,575.39  
Interest and Principal Funding Investment Proceeds
                             0.00  
Interest on Reserve Account
                             0.00  
Series Adjusted Portfolio Yield
                             18.0740 %
Base Rate
                             4.2729 %
Excess Spread Percentage
                             14.2063 %

- 125 -

 

                                 
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
     1,290,000.00       375,634.96       1,591,208.09       3,256,843.05  
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
     1,290,000.00       375,634.96       1,591,208.09       3,256,843.05  
Ending Certificates Balance
     1,000,000,000.00       72,727,000.00       139,395,000.00       1,212,122,000.00  
         
 
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:
   $ 1.29  
2. The amount of the distribution in respect of Class A Monthly Interest:
   $ 1.29  
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  

- 126 -

 

         
 
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:
   $ 5.17  
2. The amount of the distribution in respect of Class B Monthly Interest:
   $ 5.17  
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  
 
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 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  

- 127 -

 

         
 
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
        
1. The total amount distributed to the Collateral Interest Holder:
   $ 14,920,909.97  
2. The amount of the distribution in respect of Collateral Minimum Monthly Interest, including Collateral Senior Minimum Monthly Interest:
   $ 1,591,208.09  
3. The amount of the distribution in respect of Collateral Additional Interest, including 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 distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
   $ 13,329,701.88  
 
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  

- 128 -

 

         
 
J. Application of Reallocated Investor Finance Charge Collections.
        
1. Class A Available Funds:
   $ 19,110,762.27  
a. Class A Monthly Interest:
   $ 1,290,000.00  
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):
   $ 3,760,204.93  
e. Excess Spread:
   $ 14,060,557.34  
2. Class B Available Funds:
   $ 1,389,868.41  
a. Class B Monthly Interest:
   $ 375,634.96  
b. Class B Outstanding Monthly Interest:
   $ 0.00  
c. Class B Additional Interest:
   $ 0.00  
d. Excess Spread:
   $ 1,014,233.45  
3. Collateral Available Funds:
   $ 2,663,944.71  
a. Excess Spread:
   $ 2,663,944.71  
4. Total Excess Spread:
   $ 17,738,735.50  
 
K. Reallocated Principal Collections.
        
1. Principal Allocation Percentage:
     53.8919 %
2. Series 2009-1 Allocable Principal Collections:
   $ 720,578,012.74  
3. Principal Allocation Percentage of Series 2009-1 Allocable Principal Collections:
   $ 388,332,955.66  
4. Reallocated Principal Collections Required to fund the Required Amount:
   $ 0.00  
5. Item 3 minus item 4:
   $ 388,332,955.66  
6. Shared Principal Collections from other Series allocated to Series 2009-1:
   $ 0.00  
7. Other amounts treated as Available Principal Collections:
   $ 4,557,827.12  
8. Available Principal Collections (total of items 5., 6. & 7.):
   $ 392,890,782.78  

- 129 -

 

         
 
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:
   $ 392,890,782.78  
 
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 2009-1.
       
1. Excess Spread:
   $ 17,738,735.50  
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:
   $ 273,468.42  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
8. Applied to Collateral Senior Minimum Monthly Interest:
   $ 571,074.44  
9. Applied to unpaid Monthly Servicing Fee:
   $ 2,020,203.34  
10. Collateral Default Amount treated as Available Principal Collections:
   $ 524,153.77  
11. Reduction of Collateral Invested Amount treated as Available Principal Collections:
   $ 0.00  
12. Deposited to Reserve Account:
   $ 0.00  
13. Applied to Collateral Minimum Monthly Interest, excluding amount applied to Collateral Senior Minimum Monthly Interest(s):
   $ 1,020,133.65  
14. Remaining Excess Spread distributed to Collateral Interest Holder(s):
   $ 13,329,701.88  

- 130 -

 

         
 
O. Yield and Base Rate.
        
1. Base Rate:
        
a. Current Monthly Period:
     4.2729 %
b. Prior Monthly Period:
     4.2274 %
c. Second Prior Monthly Period:
     4.2624 %
2. Three Month Average Base Rate:
     4.2542 %
3. Series Adjusted Portfolio Yield:
        
a. Current Monthly Period:
     18.0740 %
b. Prior Monthly Period:
     18.3957 %
c. Second Prior Monthly Period:
     17.1688 %
4. Three Month Average Series Adjusted Portfolio Yield:
     17.8795 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
   Yes

- 131 -

 

Series 2009-2 Certificates
                                 
            Series     Total Investor        
A. Investor/Transferor Allocations           Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
             2,811,472,379.51       1,515,155,000.00       1,296,317,379.51  
Beginning Adjusted Invested Amount
             N/A       1,515,155,000.00       N/A  
Floating Allocation Percentage
             N/A       53.8919 %     46.1081 %
Principal Allocation Percentage
             N/A       53.8919 %     46.1081 %
Collections of Finance Charge Receivables
             49,014,937.89       26,415,065.91       22,599,871.98  
Collections of Principal Receivables
             900,724,002.12       485,416,995.51       415,307,006.61  
Defaulted Amount
             10,571,712.31       5,697,293.31       4,874,419.00  
Ending Invested Amount / Transferor Amount
             2,809,072,154.08       1,515,155,000.00       1,293,917,154.08  
                                 
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
   May 12, 2011     May 12, 2011     May 12, 2011          
Coupon May 16, 2011 - June 14, 2011
     1.44800 %     3.69800 %     5.44800 %        
Monthly Interest Due
     1,508,333.33       280,123.50       447,121.90       2,235,578.73  
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
     1,508,333.33       280,123.50       447,121.90       2,235,578.73  
Investor Default Amount
     4,700,256.17       341,802.63       655,234.51       5,697,293.31  
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
     8,291,922.83       773,426.13       1,392,781.41       10,458,130.37  
Reallocated Investor Finance Charge Collections
                             27,120,285.21  
Interest and Principal Funding Investment Proceeds
                             0.00  
Interest on Reserve Account
                             0.00  
Series Adjusted Portfolio Yield
                             16.6477 %
Base Rate
                             3.8229 %
Excess Spread Percentage
                             13.1964 %

- 132 -

 

                                 
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
     1,508,333.33       280,123.50       447,121.90       2,235,578.73  
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
     1,508,333.33       280,123.50       447,121.90       2,235,578.73  
Ending Certificates Balance
     1,250,000,000.00       90,900,000.00       174,255,000.00       1,515,155,000.00  
         
 
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  

- 133 -

 

         
 
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:
   $ 3.08  
2. The amount of the distribution in respect of Class B Monthly Interest:
   $ 3.08  
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  
 
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 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  

- 134 -

 

         
 
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
        
1. The total amount distributed to the Collateral Interest Holder:
   $ 17,109,276.74  
2. The amount of the distribution in respect of Collateral Senior Minimum Monthly Interest:
   $ 447,121.90  
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 distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
   $ 16,662,154.84  
 
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  

- 135 -

 

         
 
J. Application of Reallocated Investor Finance Charge Collections.
        
1. Class A Available Funds:
   $ 22,374,183.84  
a. Class A Monthly Interest:
   $ 1,508,333.33  
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):
   $ 4,700,256.17  
e. Excess Spread:
   $ 16,165,594.34  
2. Class B Available Funds:
   $ 1,627,050.65  
a. Class B Monthly Interest:
   $ 280,123.50  
b. Class B Outstanding Monthly Interest:
   $ 0.00  
c. Class B Additional Interest:
   $ 0.00  
d. Excess Spread:
   $ 1,346,927.15  
3. Collateral Available Funds:
   $ 3,119,050.72  
a. Excess Spread:
   $ 3,119,050.72  
4. Total Excess Spread:
   $ 20,631,572.21  
 
K. Reallocated Principal Collections.
        
1. Principal Allocation Percentage:
     53.8919 %
2. Series 2009-2 Allocable Principal Collections:
   $ 900,724,002.12  
3. Principal Allocation Percentage of Series 2009-2 Allocable Principal Collections:
   $ 485,416,995.51  
4. Reallocated Principal Collections Required to fund the Required Amount:
   $ 0.00  
5. Item 3 minus item 4:
   $ 485,416,995.51  
6. Shared Principal Collections from other Series allocated to Series 2009-2:
   $ 0.00  
7. Other amounts treated as Available Principal Collections:
   $ 5,697,293.31  
8. Available Principal Collections (total of items 5., 6. & 7.):
   $ 491,114,288.82  

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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:
   $ 491,114,288.82  
 
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:
   $ 20,631,572.21  
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:
   $ 341,802.63  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
8. Applied to Collateral Senior Minimum Monthly Interest:
   $ 447,121.90  
9. Applied to unpaid Monthly Servicing Fee:
   $ 2,525,258.33  
10. Collateral Default Amount treated as Available Principal Collections:
   $ 655,234.51  
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):
   $ 16,662,154.84  

- 137 -

 

         
 
O. Yield and Base Rate.
        
1. Base Rate:
        
a. Current Monthly Period:
     3.8229 %
b. Prior Monthly Period:
     3.7775 %
c. Second Prior Monthly Period:
     3.8124 %
2. Three Month Average Base Rate:
     3.8043 %
3. Series Adjusted Portfolio Yield:
        
a. Current Monthly Period:
     16.6477 %
b. Prior Monthly Period:
     16.8716 %
c. Second Prior Monthly Period:
     15.6920 %
4. Three Month Average Series Adjusted Portfolio Yield:
     16.4038 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
    Yes  
 
P. Reassignment Amount
        
1. Adjusted Invested Amount:
   $ 1,515,155,000.00  
2. Monthly Interest:
   $ 3,195,205.78  
3. Monthly Interest previously due but not paid:
   $ 0.02  
4. Additional Interest:
   $ 0.00  
5. Additional Interest previously due but not paid:
   $ 0.00  
6. Reassignment Amount:
   $ 1,518,350,205.80  

- 138 -

 

Series 2010-1 Certificates
                                 
            Series     Total Investor        
A. Investor/Transferor Allocations           Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
             1,911,798,620.27       1,030,304,000.00       881,494,620.27  
Beginning Adjusted Invested Amount
             N/A       1,030,304,000.00       N/A  
Floating Allocation Percentage
             N/A       53.8919 %     46.1081 %
Principal Allocation Percentage
             N/A       53.8919 %     46.1081 %
Collections of Finance Charge Receivables
             33,330,112.48       17,962,220.42       15,367,892.06  
Collections of Principal Receivables
             612,491,489.18       330,083,108.43       282,408,380.75  
Defaulted Amount
             7,188,754.60       3,874,154.18       3,314,600.42  
 
                                
Ending Invested Amount / Transferor Amount
             1,910,166,469.20       1,030,304,000.00       879,862,469.20  
                                 
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
   May 12, 2011     May 12, 2011     May 12, 2011          
Coupon May 16, 2011 - June 14, 2011
     0.44800 %     0.79800 %     1.39800 %        
Monthly Interest Due
     317,333.33       41,108.97       78,020.05       436,462.35  
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
     317,333.33       41,108.97       78,020.05       436,462.35  
Investor Default Amount
     3,196,174.19       232,448.35       445,531.64       3,874,154.18  
Investor Monthly Fees Due
     1,416,666.67       103,030.00       197,476.67       1,717,173.34  
Investor Additional Amounts Due
     0.00       0.00       0.00       0.00  
Total Due
     4,930,174.19       376,587.32       721,028.36       6,027,789.87  
 
                                
Reallocated Investor Finance Charge Collections
                             17,358,039.77  
Interest and Principal Funding Investment Proceeds
                             0.00  
Interest on Reserve Account
                             0.00  
Series Adjusted Portfolio Yield
                             15.4092 %
Base Rate
                             2.5432 %
Excess Spread Percentage
                             13.1964 %

- 139 -

 

                                 
C. Certificates - Balances and Distributions   Class A     Class B     Collateral Interest     Total  
Beginning Certificates Balance
     850,000,000.00       61,818,000.00       118,486,000.00       1,030,304,000.00  
Distributions of Interest
     317,333.33       41,108.97       78,020.05       436,462.35  
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
     317,333.33       41,108.97       78,020.05       436,462.35  
Ending Certificates Balance
     850,000,000.00       61,818,000.00       118,486,000.00       1,030,304,000.00  
         
 
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  

- 140 -

 

         
 
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:
   $ 0.67  
2. The amount of the distribution in respect of Class B Monthly Interest:
   $ 0.67  
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  
 
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 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  

- 141 -

 

         
 
H. Information regarding distributions on the Distribution Date to the Collateral Interest Holder.
        
1. The total amount distributed to the Collateral Interest Holder:
   $ 11,408,269.94  
2. The amount of the distribution in respect of Collateral Senior Minimum Monthly Interest:
   $ 78,020.05  
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 distributed to the Collateral Interest Holder in respect of remaining Excess Spread:
   $ 11,330,249.89  
 
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  

- 142 -

 

         
 
J. Application of Reallocated Investor Finance Charge Collections.
        
1. Class A Available Funds:
   $ 14,320,369.33  
a. Class A Monthly Interest:
   $ 317,333.33  
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):
   $ 3,196,174.19  
e. Excess Spread:
   $ 10,806,861.81  
2. Class B Available Funds:
   $ 1,041,478.34  
a. Class B Monthly Interest:
   $ 41,108.97  
b. Class B Outstanding Monthly Interest:
   $ 0.00  
c. Class B Additional Interest:
   $ 0.00  
d. Excess Spread:
   $ 1,000,369.37  
3. Collateral Available Funds:
   $ 1,996,192.09  
a. Excess Spread:
   $ 1,996,192.09  
4. Total Excess Spread:
   $ 13,803,423.27  
 
K. Reallocated Principal Collections.
        
1. Principal Allocation Percentage:
     53.8919 %
2. Series 2010-1 Allocable Principal Collections:
   $ 612,491,489.18  
3. Principal Allocation Percentage of Series 2010-1 Allocable Principal Collections:
   $ 330,083,108.43  
4. Reallocated Principal Collections Required to fund the Required Amount:
   $ 0.00  
5. Item 3 minus item 4:
   $ 330,083,108.43  
6. Shared Principal Collections from other Series allocated to Series 2010-1:
   $ 0.00  
7. Other amounts treated as Available Principal Collections:
   $ 3,874,154.18  
8. Available Principal Collections (total of items 5., 6. & 7.):
   $ 333,957,262.61  

- 143 -

 

         
 
L. Application of Available Principal Collections during Revolving Period.
        
1. Collateral Invested Amount:
   $ 118,486,000.00  
2. Required Collateral Invested Amount:
   $ 118,486,000.00  
3. Excess of Collateral Invested Amount over Required Collateral Invested Amount:
   $ 0.00  
4. Treated as Shared Principal Collections:
   $ 333,957,262.61  
 
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 2010-1.
       
1. Excess Spread:
   $ 13,803,423.27  
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:
   $ 232,448.35  
7. Reduction of Class B Invested Amount treated as Available Principal Collections:
   $ 0.00  
8. Applied to Collateral Senior Minimum Monthly Interest:
   $ 78,020.05  
9. Applied to unpaid Monthly Servicing Fee:
   $ 1,717,173.34  
10. Collateral Default Amount treated as Available Principal Collections:
   $ 445,531.64  
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):
   $ 11,330,249.89  

- 144 -

 

         
 
O. Yield and Base Rate.
        
1. Base Rate:
        
a. Current Monthly Period:
     2.5432 %
b. Prior Monthly Period:
     2.4978 %
c. Second Prior Monthly Period:
     2.5327 %
2. Three Month Average Base Rate:
     2.5245 %
3. Series Adjusted Portfolio Yield:
        
a. Current Monthly Period:
     15.4092 %
b. Prior Monthly Period:
     15.5492 %
c. Second Prior Monthly Period:
     14.4123 %
4. Three Month Average Series Adjusted Portfolio Yield:
     15.1236 %
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
    Yes  
 
P. Reassignment Amount
        
1. Adjusted Invested Amount:
   $ 1,030,304,000.00  
2. Monthly Interest:
   $ 960,122.49  
3. Monthly Interest previously due but not paid:
   $ 0.02  
4. Additional Interest:
   $ 0.00  
5. Additional Interest previously due but not paid:
   $ 0.00  
6. Reassignment Amount:
   $ 1,031,264,122.47  

- 145 -

 

Series 2009-D-I Certificates
                         
    Series     Total Investor        
A. Investor/Transferor Allocations   Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
     38,658,893.35       20,834,000.00       17,824,893.35  
Beginning Adjusted Invested Amount
     N/A       20,834,000.00       N/A  
Floating Allocation Percentage
     N/A       53.8919 %     46.1081 %
Principal Allocation Percentage
     N/A       53.8919 %     46.1081 %
Collections of Finance Charge Receivables
     673,975.41       363,217.94       310,757.47  
Collections of Principal Receivables
     12,385,322.86       6,674,681.92       5,710,640.94  
Defaulted Amount
     145,365.36       78,340.11       67,025.25  
Ending Invested Amount / Transferor Amount
     38,625,889.27       20,834,000.00       17,791,889.27  
         
B. Monthly Period Funding Requirements
     Total  
LIBOR Determination Date
   May 12, 2011
Coupon May 16, 2011 - June 14, 2011
     18.94800 %
Monthly Interest Due
     328,968.86  
Outstanding Monthly Interest Due
     0.00  
Additional Interest Due
     0.00  
Total Interest Due
     328,968.86  
Investor Default Amount
     78,340.11  
Investor Monthly Fees Due
     34,723.33  
Investor Additional Amounts Due
     0.00  
Total Due
     442,032.30  
Investor Finance Charge Collections
     363,217.94  
 
C. Certificates — Balances and Distributions
   Total  
Beginning Certificates Balance
     20,834,000.00  
Distributions of Interest
     328,968.86  
Distributions of Principal
     0.00  
Total Distributions
     328,968.86  
Ending Certificates Balance
     20,834,000.00  
 
D. Information regarding distributions on the Distribution Date in respect of the Series 2009-D-I Certificates per $1,000 certificate principal amount
        
(1) The total amount of the distribution
   $ 15.79  
(2) The amount of the distribution in respect of Monthly Interest
   $ 15.79  
(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-I Certificates
   $ 0.00  

- 146 -

 

         
 
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-I 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-I Invested Amount
                                                 
    Beginning                     Reallocated             Ending  
    Scheduled Partial             Pro rata share     Principal             Scheduled Partial  
    Amortization     Distributions of     of Investor     Collections             Amortization  
Series   Amount     Principal     Charge-Offs     Applied     Reimbursements     Amount  
2006-2
     20,834,000.00       0.00       0.00       0.00       0.00       20,834,000.00  
Series 2009-D-I Invested Amount
     20,834,000.00       0.00       0.00       0.00       0.00       20,834,000.00  
(aggregate of Scheduled Partial Amortization Amounts)
                                                
         
 
G. Application of Investor Finance Charge Collections.
        
1. Available Funds
   $ 363,217.94  
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):
   $ 78,340.11  
d. Monthly Interest
   $ 284,877.83  
e. Outstanding Monthly Interest
   $ 0.00  
 
f. Additional Interest
   $ 0.00  
2. Excess Spread:
   $ 0.00  

- 147 -

 

         
 
H. Reallocated Principal Collections.
        
1. Principal Allocation Percentage:
     53.8919 %
2. Series 2009-D-I Allocable Principal Collections:
   $ 12,385,322.86  
3. Principal Allocation Percentage of Series 2009-D-I Allocable Principal Collections:
   $ 6,674,681.92  
4. Aggregate amount of Reallocated Principal Collections required to fund the Referenced Series Adjusted Shortfalls
   $ 0.00  
5. Item 3 minus item 4:
   $ 6,674,681.92  
6. Shared Principal Collections from other Series allocated to Series 2009-D-I:
   $ 0.00  
7. Other amounts treated as Available Principal Collections:
   $ 78,340.11  
8. Available Principal Collections (total of items 5., 6. & 7.):
   $ 6,753,022.03  
 
I. Application of Available Principal Collections during Revolving Period.
        
1. Treated as Shared Principal Collections:
   $ 6,753,022.03  
 
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  

- 148 -

 

         
 
K. Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 2009-D-I.
        
1. Excess Spread:
   $ 0.00  
2. Excess Finance Charge Collections:
   $ 78,814.36  
3. Applied to fund Required Amount:
   $ 44,091.03  
4. Investor Charge-Offs treated as Available Principal Collections:
   $ 0.00  
5. Applied to unpaid Monthly Servicing Fee:
   $ 34,723.33  
6. Aggregate reimbursement of reductions of Scheduled Partial Amortization Amounts treated as Available Principal Collections
   $ 0.00  
7. Applied to fund Series 2009-D-II Shortfall
   $ 0.00  
8. Remaining Excess Spread distributed to Holders of Transferor Certificate
   $ 0.00  
 
L. Amounts and Applications Relating to the Referenced Series
        
                                         
            Referenced     Allocable     Applied to fund     Reimbursements of  
    Referenced     Series     portion of     Scheduled     reductions of  
    Series     Shortfall     Reallocated     Partial     Scheduled Partial  
    Adjusted     Coverage     Principal     Amortization     Amortization  
Series   Shortfall     Amount     Collections     Amount     Amount  
2006-2
     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-II:
        
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  

- 149 -

 

Series 2009-D-II Certificates
                         
    Series     Total Investor        
A. Investor/Transferor Allocations   Allocations     Interest     Transferors’ Interest  
Beginning Invested Amount/Transferor Amount
     1,451,066,776.06       782,007,000.00       669,059,776.06  
Beginning Adjusted Invested Amount
     N/A       782,007,000.00       N/A  
Floating Allocation Percentage
     N/A       53.8919 %     46.1081 %
Principal Allocation Percentage
     N/A       53.8919 %     46.1081 %
Collections of Finance Charge Receivables
     25,297,758.01       13,633,434.50       11,664,323.51  
Collections of Principal Receivables
     464,884,764.09       250,535,086.12       214,349,677.97  
Defaulted Amount
     5,456,308.45       2,940,506.58       2,515,801.87  
Ending Invested Amount / Transferor Amount
     1,449,827,963.47       782,007,000.00       667,820,963.47  
 
                        
B. Monthly Period Funding Requirements
                   Total  
LIBOR Determination Date
                   May 12, 2011
Coupon May 16, 2011 - June 14, 2011
                     20.19800 %
Monthly Interest Due
                     13,162,481.16  
Outstanding Monthly Interest Due
                     0.00  
Additional Interest Due
                     0.00  
Total Interest Due
                     13,162,481.16  
Investor Default Amount
                     2,940,506.58  
Investor Monthly Fees Due
                     1,303,345.00  
Investor Additional Amounts Due
                     0.00  
Total Due
                     17,406,332.74  
Investor Finance Charge Collections
                     13,633,434.50  
 
                        
C. Certificates — Balances and Distributions
                   Total  
Beginning Certificates Balance
                     782,007,000.00  
Distributions of Interest
                     13,162,481.16  
Distributions of Principal
                     0.00  
Total Distributions
                     13,162,481.16  
Ending Certificates Balance
                     782,007,000.00  
         
 
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  

- 150 -

 

         
 
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
                                                 
    Beginning                     Reallocated             Ending  
    Scheduled Partial             Pro rata share     Principal             Scheduled Partial  
    Amortization     Distributions of     of Investor     Collections             Amortization  
Series   Amount     Principal     Charge-Offs     Applied     Reimbursements     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  
2005-4
     21,875,000.00       0.00       0.00       0.00       0.00       21,875,000.00  
2005-7
     30,625,000.00       0.00       0.00       0.00       0.00       30,625,000.00  
2006-1
     43,750,000.00       0.00       0.00       0.00       0.00       43,750,000.00  
2006-3
     26,250,000.00       0.00       0.00       0.00       0.00       26,250,000.00  
2007-1
     33,334,000.00       0.00       0.00       0.00       0.00       33,334,000.00  
2007-2
     33,334,000.00       0.00       0.00       0.00       0.00       33,334,000.00  
2007-5
     33,334,000.00       0.00       0.00       0.00       0.00       33,334,000.00  
2007-7
     60,000,000.00       0.00       0.00       0.00       0.00       60,000,000.00  
2007-8
     80,000,000.00       0.00       0.00       0.00       0.00       80,000,000.00  
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
     782,007,000.00       0.00       0.00       0.00       0.00       782,007,000.00  
(aggregate of Scheduled Partial Amortization Amounts)                        

- 151 -

 

         
 
G. Application of Investor Finance Charge Collections.
        
1. Available Funds
   $ 13,633,434.50  
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):
   $ 2,940,506.58  
d. Monthly Interest
   $ 10,692,927.92  
e. Outstanding Monthly Interest
   $ 0.00  
f. Additional Interest
   $ 0.00  
2. Excess Spread:
   $ 0.00  
 
H. Reallocated Principal Collections.
        
1. Principal Allocation Percentage:
     53.8919 %
2. Series 2009-D-II Allocable Principal Collections:
   $ 464,884,764.09  
3. Principal Allocation Percentage of Series 2009-D-II Allocable Principal Collections:
   $ 250,535,086.12  
4. Aggregate amount of Reallocated Principal Collections required to fund the Referenced Series Adjusted Shortfalls
   $ 0.00  
5. Item 3 minus item 4:
   $ 250,535,086.12  
6. Shared Principal Collections from other Series allocated to Series 2009-D-II:
   $ 0.00  
7. Other amounts treated as Available Principal Collections:
   $ 2,940,506.58  
8. Available Principal Collections (total of items 5., 6. & 7.):
   $ 253,475,592.70  

- 152 -

 

         
 
I. Application of Available Principal Collections during Revolving Period.
        
1. Treated as Shared Principal Collections:
   $ 253,475,592.70  
 
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:
   $ 3,772,898.24  
3. Applied to fund Required Amount:
   $ 2,469,553.24  
4. Investor Charge-Offs treated as Available Principal Collections:
   $ 0.00  
5. Applied to unpaid Monthly Servicing Fee:
   $ 1,303,345.00  
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  

- 153 -

 

L. Amounts and Applications Relating to the Referenced Series
                                         
            Referenced     Allocable     Applied to fund     Reimbursements of  
    Referenced     Series     portion of     Scheduled     reductions of  
    Series     Shortfall     Reallocated     Partial     Scheduled Partial  
    Adjusted     Coverage     Principal     Amortization     Amortization  
Series   Shortfall     Amount     Collections     Amount     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  
2005-4
     0.00       0.00       0.00       0.00       0.00  
2005-7
     0.00       0.00       0.00       0.00       0.00  
2006-1
     0.00       0.00       0.00       0.00       0.00  
2006-3
     0.00       0.00       0.00       0.00       0.00  
2007-1
     0.00       0.00       0.00       0.00       0.00  
2007-2
     0.00       0.00       0.00       0.00       0.00  
2007-5
     0.00       0.00       0.00       0.00       0.00  
2007-7
     0.00       0.00       0.00       0.00       0.00  
2007-8
     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  

- 154 -

 

         
 
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  

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