Exhibit 20.1
Nissan Auto Lease Trust 2005-A
Settlement Statement for the month ended February 28, 2006
Collection Period Start | 1-Feb-06 | Distribution Date | 15-Mar-06 | ||||
Collection Period End | 28-Feb-06 | 30/360 Days | 30 | ||||
Beg. of Interest Period | 15-Feb-06 | Actual/360 Days | 28 | ||||
End of Interest Period | 15-Mar-06 |
SUMMARY | ||||||||||||||||
Coupon Rate | Initial Balance | Beginning Balance | Ending Balance | Pool Factor | ||||||||||||
Total Portfolio | 1,550,442,391.02 | 1,440,706,653.40 | 1,409,995,076.78 | 0.9094147 | ||||||||||||
Total Securities | 1,550,442,391.02 | 1,440,706,653.40 | 1,409,995,076.78 | 0.9094147 | ||||||||||||
Class A-1 Notes | 4.271000 | % | 219,700,000.00 | 109,964,262.38 | 79,252,685.76 | 0.3607314 | ||||||||||
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 | 4.620000 | % | 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 | 30,711,576.62 | 365,289.06 | 139.7886965 | 1.6626721 | ||||||||||||
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 | 1,756,062.00 | 0.0000000 | 3.5933333 | ||||||||||||
Certificates | 0.00 | 0.00 | 0.0000000 | 0.0000000 | ||||||||||||
Total Securities | 30,711,576.62 | 4,793,951.06 |
I. COLLECTIONS | ||||||||||||||||
Lease Payments: ( Lease SUBI) | ||||||||||||||||
Monthly Principal | 20,361,485.38 | |||||||||||||||
Monthly Interest | 6,106,518.63 | |||||||||||||||
Total Monthly Payments | 26,468,004.01 | |||||||||||||||
Interest Rate Cap Payments | 0.00 | |||||||||||||||
Advances: | ||||||||||||||||
Aggregate Monthly Payment Advances | 1,737,863.24 | |||||||||||||||
Aggregate Sales Proceeds Advance | 553,535.59 | |||||||||||||||
Total Advances | 2,291,398.83 | |||||||||||||||
Vehicle Disposition Proceeds: | ||||||||||||||||
Reallocation Payments | 2,052,382.74 | |||||||||||||||
Repurchase Payments | 16,631.27 | |||||||||||||||
Net Auction Proceeds | 0.00 | |||||||||||||||
Recoveries | 0.00 | |||||||||||||||
Net Liquidation Proceeds | 10,109,952.47 | |||||||||||||||
Excess Wear and Tear and Excess Mileage | 3,486.37 | |||||||||||||||
Remaining Payoffs | 0.00 | |||||||||||||||
Net Insurance Proceeds | 893,965.63 | |||||||||||||||
Residual Value Surplus | 21,697.05 | |||||||||||||||
Total Collections | 41,857,518.37 |
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II. COLLATERAL POOL BALANCE DATA | ||||||||||||||||
Number | Book Amount | Discount Rate | Securitization Value | |||||||||||||
Pool Balance - Beginning of Period | 66,426 | 1,572,127,078.89 | 8.15000 | % | 1,440,706,653.40 | |||||||||||
Total Depreciation Received | (20,803,182.85) | (17,483,459.23 | ||||||||||||||
Principal Amount of Gross Losses | (118) | (2,834,073.22) | (2,666,049.17) | |||||||||||||
Repurchase / Reallocation | (1) | (18,557.78) | (16,631.27) | |||||||||||||
Early Terminations | (18) | (396,157.72) | (370,074.58) | |||||||||||||
Scheduled Terminations | (482) | (10,687,962.12) | (10,175,362.37) | |||||||||||||
Pool Balance - End of Period | 65,807 | 1,537,387,145.20 | 8.15000 | % | 1,409,995,076.78 | |||||||||||
III. DISTRIBUTIONS | ||||||||||||||||
Total Collections | 41,857,518.37 | |||||||||||||||
Reserve Amounts Available for Distribution | 0.00 | |||||||||||||||
Total Available for Distribution | 41,857,518.37 | |||||||||||||||
1. Amounts due Indenture Trustee as Compensation or Indemnity | 0.00 | |||||||||||||||
2. Reimbursement of Payment Advance | 1,154,881.12 | |||||||||||||||
3. Reimbursement of Sales Proceeds Advance | 572,671.66 | |||||||||||||||
4. Servicing Fee: | ||||||||||||||||
Servicing Fee Due | 1,200,588.88 | |||||||||||||||
Servicing Fee Paid | 1,200,588.88 | |||||||||||||||
Servicing Fee Shortfall | 0.00 | |||||||||||||||
Total Trustee, Advances and Servicing Fee Paid | 2,928,141.66 | |||||||||||||||
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 | 365,289.06 | |||||||||||||||
Class A-1 Notes Monthly Interest Paid | 365,289.06 | |||||||||||||||
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 | 1,756,062.00 | |||||||||||||||
Class A-4 Notes Monthly Interest Paid | 1,756,062.00 | |||||||||||||||
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 | 4,793,951.06 | |||||||||||||||
Total Note and Certificate Monthly Interest Paid | 4,793,951.06 | |||||||||||||||
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 | 34,135,425.65 | |||||||||||||||
6. Total Monthly Principal Paid on the Notes | ||||||||||||||||
Total Monthly Principal Paid on the Class A Notes | 30,711,576.62 | |||||||||||||||
Total Class A Noteholders' Principal Carryover Shortfall | 0.00 | |||||||||||||||
Total Class A Noteholders' Principal Distributable Amount | 30,711,576.62 | |||||||||||||||
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 | 3,423,849.03 |
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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 | 36,864,616.64 | |||||||||||||||
Reinvestment Income for the Period | 248,295.43 | |||||||||||||||
Reserve Fund Available for Distribution | 37,112,912.07 | |||||||||||||||
Reserve Fund Draw Amount | 0.00 | |||||||||||||||
Deposit of Remaining Available Collections | 3,423,849.03 | |||||||||||||||
Gross Reserve Account Balance | 40,536,761.10 | |||||||||||||||
Remaining Available Collections Released to Seller | 0.00 | |||||||||||||||
Ending Reserve Account Balance | 40,536,761.10 | |||||||||||||||
V. POOL STATISTICS | ||||||||||||||||
Weighted Average Remaining Maturity | 25.81 | |||||||||||||||
Monthly Prepayment Speed | 88.000 | % | ||||||||||||||
Lifetime Prepayment Speed | 77.000 | % | ||||||||||||||
$ | units | |||||||||||||||
Recoveries of Defaulted and Casualty Receivables | 1,924,556.45 | |||||||||||||||
Securitization Value of Defaulted Receivables and Casualty Receivables | 2,666,049.17 | 118 | ||||||||||||||
Aggregate Defaulted and Casualty Gain (Loss) | (741,492.72) | |||||||||||||||
Pool Balance at Beginning of Collection Period | 1,440,706,653.40 | |||||||||||||||
Net Loss Ratio | -0.0515 | % | ||||||||||||||
Cumulative Net Losses for all Periods | 0.1778 | % | 2,756,082.43 | |||||||||||||
Delinquent Receivables: | Amount | Number | ||||||||||||||
31-60 Days Delinquent | 13,970,380.29 | 626 | ||||||||||||||
61-90 Days Delinquent | 3,191,502.45 | 132 | ||||||||||||||
91-120+ Days Delinquent | 1,003,119.14 | 41 | ||||||||||||||
Total Delinquent Receivables: | 18,165,001.88 | 799 | ||||||||||||||
60+ Days Delinquencies as Percentage of Receivables | 0.29 | % | ||||||||||||||
Aggregate Sales Performance of Auctioned Vehicles | $ | units | ||||||||||||||
Sales Proceeds | 1,055,534.03 | 63 | ||||||||||||||
Securitization Value | 1,155,721.01 | |||||||||||||||
Aggregate Residual Gain (Loss) | (100,186.98) | |||||||||||||||
Cumulative Sales Performance of Auctioned Vehicles | $ | units | ||||||||||||||
Cumulative Sales Proceeds | 3,139,955.47 | 187 | ||||||||||||||
Cumulative Securitization Value | 3,616,816.07 | |||||||||||||||
Cumulative Residual Gain (Loss) | (476,860.60) | |||||||||||||||
VI. RECONCILIATION OF ADVANCES | . | |||||||||||||||
Beginning Balance of Residual Advance | 867,616.14 | |||||||||||||||
Reimbursement of Outstanding Advance | 572,671.66 | |||||||||||||||
Additional Advances for current period | 553,535.59 | |||||||||||||||
Ending Balance of Residual Advance | 848,480.07 | |||||||||||||||
Beginning Balance of Payment Advance | 3,025,758.24 | |||||||||||||||
Reimbursement of Outstanding Payment Advance | 1,154,881.12 | |||||||||||||||
Additional Payment Advances for current period | 1,737,863.24 | |||||||||||||||
Ending Balance of Payment Advance | 3,608,740.36 | |||||||||||||||
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