Exhibit 20.1
Nissan Auto Lease Trust 2005-A
Settlement Statement for the month ended March 31, 2006
Collection Period Start | 1-Mar-06 | Distribution Date | 17-Apr-06 | ||||
Collection Period End | 31-Mar-06 | 30/360 Days | 30 | ||||
Beg. of Interest Period | 15-Mar-06 | Actual/360 Days | 33 | ||||
End of Interest Period | 17-Apr-06 |
SUMMARY | ||||||||||||||||
Coupon Rate | Initial Balance | Beginning Balance | Ending Balance | Pool Factor | ||||||||||||
Total Portfolio | 1,550,442,391.02 | 1,409,995,076.78 | 1,377,042,330.88 | 0.8881609 | ||||||||||||
Total Securities | 1,550,442,391.02 | 1,409,995,076.78 | 1,377,042,330.88 | 0.8881609 | ||||||||||||
Class A-1 Notes | 4.271000 | % | 219,700,000.00 | 79,252,685.76 | 46,299,939.86 | 0.2107416 | ||||||||||
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 | 4.798750 | % | 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 | 32,952,745.90 | 310,280.87 | 149.9897401 | 1.4122934 | ||||||||||||
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 | 2,149,720.03 | 0.0000000 | 4.3988542 | ||||||||||||
Certificates | 0.00 | 0.00 | 0.0000000 | 0.0000000 | ||||||||||||
Total Securities | 32,952,745.90 | 5,132,600.90 |
I. COLLECTIONS | ||||||||||||||||
Lease Payments: ( Lease SUBI) | ||||||||||||||||
Monthly Principal | 22,252,976.08 | |||||||||||||||
Monthly Interest | 6,348,887.92 | |||||||||||||||
Total Monthly Payments | 28,601,864.00 | |||||||||||||||
Interest Rate Cap Payments | 0.00 | |||||||||||||||
Advances: | ||||||||||||||||
Aggregate Monthly Payment Advances | 910,070.50 | |||||||||||||||
Aggregate Sales Proceeds Advance | 430,816.90 | |||||||||||||||
Total Advances | 1,340,887.40 | |||||||||||||||
Vehicle Disposition Proceeds: | ||||||||||||||||
Reallocation Payments | 2,570,779.68 | |||||||||||||||
Repurchase Payments | 81,375.00 | |||||||||||||||
Net Auction Proceeds | 0.00 | |||||||||||||||
Recoveries | 0.00 | |||||||||||||||
Net Liquidation Proceeds | 12,447,721.53 | |||||||||||||||
Excess Wear and Tear and Excess Mileage | 8,181.26 | |||||||||||||||
Remaining Payoffs | 0.00 | |||||||||||||||
Net Insurance Proceeds | 987,037.83 | |||||||||||||||
Residual Value Surplus | 28,260.07 | |||||||||||||||
Total Collections | 46,066,106.77 |
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II. COLLATERAL POOL BALANCE DATA | ||||||||||||||||
Number | Book Amount | Discount Rate | Securitization Value | |||||||||||||
Pool Balance - Beginning of Period | 65,807 | 1,537,387,145.20 | 8.15000 | % | 1,409,995,076.78 | |||||||||||
Total Depreciation Received | (20,589,499.62) | (17,409,855.88) | ||||||||||||||
Principal Amount of Gross Losses | (117) | (2,983,430.33) | (2,793,989.54) | |||||||||||||
Repurchase / Reallocation | (4) | (84,314.47) | (81,375.00) | |||||||||||||
Early Terminations | (8) | (163,447.00) | (147,999.29) | |||||||||||||
Scheduled Terminations | (592) | (13,149,877.15) | (12,519,526.19) | |||||||||||||
Pool Balance - End of Period | 65,086 | 1,500,416,576.63 | 8.15000 | % | 1,377,042,330.88 | |||||||||||
III. DISTRIBUTIONS | ||||||||||||||||
Total Collections | 46,066,106.77 | |||||||||||||||
Reserve Amounts Available for Distribution | 0.00 | |||||||||||||||
Total Available for Distribution | 46,066,106.77 | |||||||||||||||
1. Amounts due Indenture Trustee as Compensation or Indemnity | 0.00 | |||||||||||||||
2. Reimbursement of Payment Advance | 1,857,091.65 | |||||||||||||||
3. Reimbursement of Sales Proceeds Advance | 624,109.44 | |||||||||||||||
4. Servicing Fee: | ||||||||||||||||
Servicing Fee Due | 1,174,995.90 | |||||||||||||||
Servicing Fee Paid | 1,174,995.90 | |||||||||||||||
Servicing Fee Shortfall | 0.00 | |||||||||||||||
Total Trustee, Advances and Servicing Fee Paid | 3,656,196.99 | |||||||||||||||
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 | 310,280.87 | |||||||||||||||
Class A-1 Notes Monthly Interest Paid | 310,280.87 | |||||||||||||||
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 | 2,149,720.03 | |||||||||||||||
Class A-4 Notes Monthly Interest Paid | 2,149,720.03 | |||||||||||||||
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 | 5,132,600.90 | |||||||||||||||
Total Note and Certificate Monthly Interest Paid | 5,132,600.90 | |||||||||||||||
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 | 37,277,308.88 | |||||||||||||||
6. Total Monthly Principal Paid on the Notes | ||||||||||||||||
Total Monthly Principal Paid on the Class A Notes | 32,952,745.90 | |||||||||||||||
Total Class A Noteholders' Principal Carryover Shortfall | 0.00 | |||||||||||||||
Total Class A Noteholders' Principal Distributable Amount | 32,952,745.90 | |||||||||||||||
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 | 4,324,562.98 |
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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 | 40,536,761.10 | |||||||||||||||
Reinvestment Income for the Period | 301,506.97 | |||||||||||||||
Reserve Fund Available for Distribution | 40,838,268.07 | |||||||||||||||
Reserve Fund Draw Amount | 0.00 | |||||||||||||||
Deposit of Remaining Available Collections | 4,324,562.98 | |||||||||||||||
Gross Reserve Account Balance | 45,162,831.05 | |||||||||||||||
Remaining Available Collections Released to Seller | 0.00 | |||||||||||||||
Ending Reserve Account Balance | 45,162,831.05 | |||||||||||||||
V. POOL STATISTICS | ||||||||||||||||
Weighted Average Remaining Maturity | 24.85 | |||||||||||||||
Monthly Prepayment Speed | 98.000 | % | ||||||||||||||
Lifetime Prepayment Speed | 80.000 | % | ||||||||||||||
$ | units | |||||||||||||||
Recoveries of Defaulted and Casualty Receivables | 2,364,842.94 | |||||||||||||||
Securitization Value of Defaulted Receivables and Casualty Receivables | 2,793,989.54 | 117 | ||||||||||||||
Aggregate Defaulted and Casualty Gain (Loss) | (429,146.60) | |||||||||||||||
Pool Balance at Beginning of Collection Period | 1,409,995,076.78 | |||||||||||||||
Net Loss Ratio | -0.0304 | % | ||||||||||||||
Cumulative Net Losses for all Periods | 0.2054 | % | 3,185,229.03 | |||||||||||||
Delinquent Receivables: | Amount | Number | ||||||||||||||
31-60 Days Delinquent | 12,693,264.83 | 568 | ||||||||||||||
61-90 Days Delinquent | 2,482,239.55 | 110 | ||||||||||||||
91-120+ Days Delinquent | 669,529.14 | 31 | ||||||||||||||
Total Delinquent Receivables: | 15,845,033.52 | 709 | ||||||||||||||
60+ Days Delinquencies as Percentage of Receivables | 0.22 | % | ||||||||||||||
Aggregate Sales Performance of Auctioned Vehicles | $ | units | ||||||||||||||
Sales Proceeds | 1,272,816.10 | 68 | ||||||||||||||
Securitization Value | 1,442,789.70 | |||||||||||||||
Aggregate Residual Gain (Loss) | (169,973.60) | |||||||||||||||
Cumulative Sales Performance of Auctioned Vehicles | $ | units | ||||||||||||||
Cumulative Sales Proceeds | 4,412,771.57 | 255 | ||||||||||||||
Cumulative Securitization Value | 5,059,605.77 | |||||||||||||||
Cumulative Residual Gain (Loss) | (646,834.20) | |||||||||||||||
VI. RECONCILIATION OF ADVANCES | . | |||||||||||||||
Beginning Balance of Residual Advance | 848,480.07 | |||||||||||||||
Reimbursement of Outstanding Advance | 624,109.44 | |||||||||||||||
Additional Advances for current period | 430,816.90 | |||||||||||||||
Ending Balance of Residual Advance | 655,187.53 | |||||||||||||||
Beginning Balance of Payment Advance | 3,608,740.36 | |||||||||||||||
Reimbursement of Outstanding Payment Advance | 1,857,091.65 | |||||||||||||||
Additional Payment Advances for current period | 910,070.50 | |||||||||||||||
Ending Balance of Payment Advance | 2,661,719.21 | |||||||||||||||
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