Exhibit 20.1
Nissan Auto Lease Trust 2005-A
Settlement Statement for the month ended December 31, 2005
Collection Period Start | 1-Dec-05 | Distribution Date | 17-Jan-06 | ||
Collection Period End | 31-Dec-05 | 30/360 Days | 30 | ||
Beg. of Interest Period | 15-Dec-05 | Actual/360 Days | 33 | ||
End of Interest Period | 17-Jan-06 |
SUMMARY | ||||||||||||||||
Coupon Rate | Initial Balance | Beginning Balance | Ending Balance | Pool Factor | ||||||||||||
Total Portfolio | 1,550,442,391.02 | 1,498,284,422.51 | 1,471,076,027.31 | 0.9488105 | ||||||||||||
Total Securities | 1,550,442,391.02 | 1,498,284,422.51 | 1,471,076,027.31 | 0.9488105 | ||||||||||||
Class A-1 Notes | 4.271000 | % | 219,700,000.00 | 167,542,031.49 | 140,333,636.29 | 0.6387512 | ||||||||||
Class A-2 Notes | 4.610000 | % | 242,000,000.00 | 242,000,000.00 | 242,000,000.00 | 1.0000000 | ||||||||||
Class A-3 Notes | 4.700000 | % | 445,000,000.00 | 445,000,000.00 | 445,000,000.00 | 1.0000000 | ||||||||||
Class A-4 Notes | 4.419380 | % | 488,700,000.00 | 488,700,000.00 | 488,700,000.00 | 1.0000000 | ||||||||||
Certificates | 0.000000 | % | 155,042,391.02 | 155,042,391.02 | 155,042,391.02 | 1.0000000 | ||||||||||
Principal Payment Due | Interest Payment | Principal per $1000 Face Amount | Interest per $1000 Face Amount | |||||||||||||
Class A-1 Notes | 27,208,395.20 | 655,941.02 | 123.8434010 | 2.9856214 | ||||||||||||
Class A-2 Notes | 0.00 | 929,683.33 | 0.0000000 | 3.8416667 | ||||||||||||
Class A-3 Notes | 0.00 | 1,742,916.67 | 0.0000000 | 3.9166667 | ||||||||||||
Class A-4 Notes | 0.00 | 1,979,771.76 | 0.0000000 | 4.0510983 | ||||||||||||
Certificates | 0.00 | 0.00 | 0.0000000 | 0.0000000 | ||||||||||||
Total Securities | 27,208,395.20 | 5,308,312.78 |
I. COLLECTIONS | ||||||||||||||||
Lease Payments: ( Lease SUBI) | ||||||||||||||||
Monthly Principal | 21,126,266.84 | |||||||||||||||
Monthly Interest | 6,301,077.54 | |||||||||||||||
Total Monthly Payments | 27,427,344.38 | |||||||||||||||
Interest Rate Cap Payments | 0.00 | |||||||||||||||
Advances: | ||||||||||||||||
Aggregate Monthly Payment Advances | 1,462,669.31 | |||||||||||||||
Aggregate Sales Proceeds Advance | 331,496.23 | |||||||||||||||
Total Advances | 1,794,165.54 | |||||||||||||||
Vehicle Disposition Proceeds: | ||||||||||||||||
Reallocation Payments | 813,836.36 | |||||||||||||||
Repurchase Payments | 40,745.11 | |||||||||||||||
Net Auction Proceeds | 0.00 | |||||||||||||||
Recoveries | 0.00 | |||||||||||||||
Net Liquidation Proceeds | 7,936,072.20 | |||||||||||||||
Excess Wear and Tear and Excess Mileage | 2,724.42 | |||||||||||||||
Remaining Payoffs | 0.00 | |||||||||||||||
Net Insurance Proceeds | 947,129.73 | |||||||||||||||
Residual Value Surplus | 12,496.83 | |||||||||||||||
Total Collections | 38,974,514.57 |
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II. COLLATERAL POOL BALANCE DATA | ||||||||||||||||
Number | Book Amount | Discount Rate | Securitization Value | |||||||||||||
Pool Balance - Beginning of Period | 67,475 | 1,638,004,636.17 | 8.15000 | % | 1,498,284,422.51 | |||||||||||
Total Depreciation Received | (21,187,320.76) | (17,590,341.05) | ||||||||||||||
Principal Amount of Gross Losses | (74) | (1,756,380.38) | (1,620,314.40) | |||||||||||||
Repurchase / Reallocation | (3) | (44,449.40) | (40,745.11) | |||||||||||||
Early Terminations | (3) | (73,995.53) | (69,293.48) | |||||||||||||
Scheduled Terminations | (372) | (8,308,258.98) | (7,887,701.16) | |||||||||||||
Pool Balance - End of Period | 67,023 | 1,606,634,231.12 | 8.15000 | % | 1,471,076,027.31 | |||||||||||
III. DISTRIBUTIONS | ||||||||||||||||
Total Collections | 38,974,514.57 | |||||||||||||||
Reserve Amounts Available for Distribution | 0.00 | |||||||||||||||
Total Available for Distribution | 38,974,514.57 | |||||||||||||||
1. Amounts due Indenture Trustee as Compensation or Indemnity | 0.00 | |||||||||||||||
2. Reimbursement of Payment Advance | 1,219,175.76 | |||||||||||||||
3. Reimbursement of Sales Proceeds Advance | 332,111.15 | |||||||||||||||
4. Servicing Fee: | ||||||||||||||||
Servicing Fee Due | 1,248,570.35 | |||||||||||||||
Servicing Fee Paid | 1,248,570.35 | |||||||||||||||
Servicing Fee Shortfall | 0.00 | |||||||||||||||
Total Trustee, Advances and Servicing Fee Paid | 2,799,857.26 | |||||||||||||||
5. Interest: | ||||||||||||||||
Class A-1 Notes Monthly Interest | ||||||||||||||||
Class A-1 Notes Interest Carryover Shortfall | 0.00 | |||||||||||||||
Class A-1 Notes Interest on Interest Carryover Shortfall | 0.00 | |||||||||||||||
Class A-1 Notes Monthly Available Interest Distribution Amount | 655,941.02 | |||||||||||||||
Class A-1 Notes Monthly Interest Paid | 655,941.02 | |||||||||||||||
Chg in Class A-1 Notes Int. Carryover Shortfall | 0.00 | |||||||||||||||
Class A-2 Notes Monthly Interest | ||||||||||||||||
Class A-2 Notes Interest Carryover Shortfall | 0.00 | |||||||||||||||
Class A-2 Notes Interest on Interest Carryover Shortfall | 0.00 | |||||||||||||||
Class A-2 Notes Monthly Available Interest Distribution Amount | 929,683.33 | |||||||||||||||
Class A-2 Notes Monthly Interest Paid | 929,683.33 | |||||||||||||||
Chg in Class A-2 Notes Int. Carryover Shortfall | 0.00 | |||||||||||||||
Class A-3 Notes Monthly Interest | ||||||||||||||||
Class A-3 Notes Interest Carryover Shortfall | 0.00 | |||||||||||||||
Class A-3 Notes Interest on Interest Carryover Shortfall | 0.00 | |||||||||||||||
Class A-3 Notes Monthly Available Interest Distribution Amount | 1,742,916.67 | |||||||||||||||
Class A-3 Notes Monthly Interest Paid | 1,742,916.67 | |||||||||||||||
Chg in Class A-3a Notes Int. Carryover Shortfall | 0.00 |
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Class A-4 Notes Monthly Interest | ||||||||||||||||
Class A-4 Notes Interest Carryover Shortfall | 0.00 | |||||||||||||||
Class A-4 Notes Interest on Interest Carryover Shortfall | 0.00 | |||||||||||||||
Class A-4 Notes Monthly Available Interest Distribution Amount | 1,979,771.76 | |||||||||||||||
Class A-4 Notes Monthly Interest Paid | 1,979,771.76 | |||||||||||||||
Chg in Class A-4 Notes Int. Carryover Shortfall | 0.00 | |||||||||||||||
Certificate Monthly Interest | ||||||||||||||||
Certificate Interest Carryover Shortfall | 0.00 | |||||||||||||||
Certificate Interest on Interest Carryover Shortfall | 0.00 | |||||||||||||||
Certificate Monthly Available Interest Distribution Amount | 0.00 | |||||||||||||||
Certificate Monthly Interest Paid | 0.00 | |||||||||||||||
Chg in Certificate Int. Carryover Shortfall | 0.00 | |||||||||||||||
Total Note and Certificate Monthly Interest | ||||||||||||||||
Total Note and Certificate Monthly Interest Due | 5,308,312.78 | |||||||||||||||
Total Note and Certificate Monthly Interest Paid | 5,308,312.78 | |||||||||||||||
Total Note and Certificate Interest Carryover Shortfall | 0.00 | |||||||||||||||
Chg in Total Note and Certificate Int. Carryover Shortfall | 0.00 | |||||||||||||||
Total Available for Principal Distribution | 30,866,344.53 | |||||||||||||||
6. Total Monthly Principal Paid on the Notes | ||||||||||||||||
Total Monthly Principal Paid on the Class A Notes | 27,208,395.20 | |||||||||||||||
Total Class A Noteholders' Principal Carryover Shortfall | 0.00 | |||||||||||||||
Total Class A Noteholders' Principal Distributable Amount | 27,208,395.20 | |||||||||||||||
Chg in Total Class A Noteholders' Principal Carryover Shortfall | 0.00 | |||||||||||||||
7. Total Monthly Principal Paid on the Certificates | 0.00 | |||||||||||||||
Total Certificateholders' Principal Carryover Shortfall | 0.00 | |||||||||||||||
Total Certificateholders' Principal Distributable Amount | 0.00 | |||||||||||||||
Chg in Total Certificateholders' Principal Carryover Shortfall | 0.00 | |||||||||||||||
Remaining Available Collections | 3,657,949.33 |
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IV. RESERVE ACCOUNT | ||||||||||||||||
Initial Reserve Account Amount | 15,504,423.91 | |||||||||||||||
Required Reserve Account Amount | 46,513,271.73 | |||||||||||||||
Beginning Reserve Account Balance | 28,642,178.18 | |||||||||||||||
Reinvestment Income for the Period | 213,035.14 | |||||||||||||||
Reserve Fund Available for Distribution | 28,855,213.32 | |||||||||||||||
Reserve Fund Draw Amount | 0.00 | |||||||||||||||
Deposit of Remaining Available Collections | 3,657,949.33 | |||||||||||||||
Gross Reserve Account Balance | 32,513,162.65 | |||||||||||||||
Remaining Available Collections Released to Seller | 0.00 | |||||||||||||||
Ending Reserve Account Balance | 32,513,162.65 | |||||||||||||||
V. POOL STATISTICS | ||||||||||||||||
Weighted Average Remaining Maturity | 27.75 | |||||||||||||||
Monthly Prepayment Speed | 71.000 | % | ||||||||||||||
Lifetime Prepayment Speed | 69.000 | % | ||||||||||||||
$ | units | |||||||||||||||
Recoveries of Defaulted and Casualty Receivables | 1,173,556.66 | |||||||||||||||
Securitization Value of Defaulted Receivables and Casualty Receivables | 1,620,314.40 | 74 | ||||||||||||||
Aggregate Defaulted and Casualty Gain (Loss) | (446,757.74) | |||||||||||||||
Pool Balance at Beginning of Collection Period | 1,498,284,422.51 | |||||||||||||||
Net Loss Ratio | -0.0298 | % | ||||||||||||||
Cumulative Net Losses for all Periods | 0.0562 | % | 872,001.51 | |||||||||||||
Delinquent Receivables: | Amount | Number | ||||||||||||||
31-60 Days Delinquent | 14,755,578.13 | 641 | ||||||||||||||
61-90 Days Delinquent | 2,959,913.07 | 124 | ||||||||||||||
91-120+ Days Delinquent | 978,815.52 | 44 | ||||||||||||||
Total Delinquent Receivables: | 18,694,306.72 | 809 | ||||||||||||||
60+ Days Delinquencies as Percentage of Receivables | 0.26 | % | ||||||||||||||
Aggregate Sales Performance of Auctioned Vehicles | $ | units | ||||||||||||||
Sales Proceeds | 567,337.85 | 33 | ||||||||||||||
Securitization Value | 648,453.68 | |||||||||||||||
Aggregate Residual Gain (Loss) | (81,115.83) | |||||||||||||||
Cumulative Sales Performance of Auctioned Vehicles | $ | units | ||||||||||||||
Cumulative Sales Proceeds | 1,350,016.03 | 82 | ||||||||||||||
Cumulative Securitization Value | 1,628,269.07 | |||||||||||||||
Cumulative Residual Gain (Loss) | (278,253.04) | |||||||||||||||
VI. Reconciliation of Advances | ||||||||||||||||
Beginning Balance of Residual Advance | 555,445.30 | |||||||||||||||
Reimbursement of Outstanding Advance | 332,111.15 | |||||||||||||||
Additional Advances for current period | 331,496.23 | |||||||||||||||
Ending Balance of Residual Advance | 554,830.38 | |||||||||||||||
Beginning Balance of Payment Advance | 3,155,641.65 | |||||||||||||||
Reimbursement of Outstanding Payment Advance | 1,219,175.76 | |||||||||||||||
Additional Payment Advances for current period | 1,462,669.31 | |||||||||||||||
Ending Balance of Payment Advance | 3,399,135.20 |
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