UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
February 15, 2005
Nissan Auto Leasing LLC II
(Originator of the Note Issuer and Transferor of the SUBI Certificate to the Note Issuer)
(Exact name of registrant as specified in its charter)
Nissan-Infiniti LT
(Issuer with respect to the SUBI Certificate)
(Exact name of registrant as specified in its charter)
NILT Trust
(Transferor of the SUBI Certificate to Nissan Auto Leasing LLC II)
(Exact name of registrant as specified in its charter)
Nissan Auto Lease Trust 2004-A
(Issuer with respect to the Notes)
(Exact name of registrant as specified in its charter)
Delaware | 333-106763 | 95-4885574 |
(State or other Jurisdiction of incorporation) | (Commission Registration Number) | (I.R.S. Employer Identification Number) |
990 WEST 190TH STREET
TORRANCE, CALIFORNIA 90502
___________________________________
(Address of principal executive office)
Registrant's telephone number, including area code: (310) 719-8509
Item 5.Other Events.
Pursuant to Section 8.09(b) of the 2004-A Servicing Supplement, dated as of October 28, 2004 (the "Agreement"), by and among Nissan-Infiniti LT, as titling trust, NILT Trust, as UTI beneficiary, and Nissan Motor Acceptance Corporation, as servicer (the "Servicer"), the Servicer has delivered to the Trustee (as defined in the Agreement), a Settlement Statement (as defined in the Agreement). The Settlement Statement is attached hereto as Exhibit 20.1.
Item 7(c). | Financial Statements, Pro Forma Financial Information and Exhibits. |
| (a) Not applicable. |
| (b) Not applicable. |
| (c) Exhibits |
| The exhibit number corresponds with Item 601(a) of Regulation S-K. |
| Exhibit No. | Description |
| 20.1 | Settlement Statement for the month ended January 31, 2005 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on behalf of the undersigned thereunto duly authorized.
| NISSAN AUTO LEASING LLC II | |||
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| By: | ___/s/___Joji Tagawa_________ | ||
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| Joji Tagawa |
| NISSAN AUTO LEASE TRUST 2004-A | ||||||
| By: | Nissan Auto Leasing LLC II, | |||||
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| By: | ___/s/___Joji Tagawa____ | ||||
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| Joji Tagawa |
| NILT TRUST | ||||
| By: | Nissan Motor Acceptance Corporation, | |||
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| By: | ___/s/___Joji Tagawa_____ | ||
|
|
| Joji Tagawa |
| NISSAN-INFINITI LT | |||||||
| By: | Nissan Motor Acceptance Corporation, | ||||||
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| By: | ___/s/_Joji Tagawa_________ | |||||
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| Joji Tagawa |
February 23, 2005
EXHIBIT INDEX
Exhibit No. | Description | Sequentially |
20.1 | Settlement Statement for the month ended | 5 |
Exhibit 20.1
NISSAN AUTO LEASE TRUST 2004-A
Settlement Statement
for the month ended January 31, 2005
NALT 2004-A
Collection Period Start | 01-Jan-05 | Distribution Date | 15-Feb-05 | ||||
Collection Period End | 31-Jan-05 | 30/360 Days | 30 | ||||
Beg. of Interest Period | 18-Jan-05 | Actual/360 Days | 28 | ||||
End of Interest Period | 15-Feb-05 | ||||||
SUMMARY | |||||||
Coupon Rate | Initial Balance | Beginning Balance | Ending Balance | Pool Factor | |||
Total Portfolio | 1,680,098,819.60 | 1,560,235,442.37 | 1,528,048,385.51 | 0.9094991 | |||
Total Securities | 1,680,098,819.60 | 1,560,235,442.37 | 1,528,048,385.51 | 0.9094991 | |||
Class A-1 Notes | 2.105630% | 265,000,000.00 | 145,136,622.77 | 112,949,565.91 | 0.4262248 | ||
Class A-2 Notes | 2.550000% | 260,000,000.00 | 260,000,000.00 | 260,000,000.00 | 1.0000000 | ||
Class A-3 Notes | 2.900000% | 357,000,000.00 | 357,000,000.00 | 357,000,000.00 | 1.0000000 | ||
Class A-4a Notes | 2.550000% | 488,000,000.00 | 488,000,000.00 | 488,000,000.00 | 1.0000000 | ||
Class A-4b Notes | 3.180000% | 100,000,000.00 | 100,000,000.00 | 100,000,000.00 | 1.0000000 | ||
Certificates | 0.000000% | 210,098,819.60 | 210,098,819.60 | 210,098,819.60 | 1.0000000 | ||
Principal Payment Due | Interest Payment | Principal per $1000 Face Amount | Interest per $1000 Face Amount | ||||
Class A-1 Notes | 32,187,056.86 | 237,692.02 | 121.4605919 | 0.8969510 | |||
Class A-2 Notes | 0.00 | 552,500.00 | 0.0000000 | 2.1250000 | |||
Class A-3 Notes | 0.00 | 862,750.00 | 0.0000000 | 2.4166667 | |||
Class A-4a Notes | 0.00 | 967,866.67 | 0.0000000 | 1.9833333 | |||
Class A-4b | 0.00 | 265,000.00 | 0.0000000 | 2.6500000 | |||
Certificates | 0.00 | 0.00 | 0.0000000 | 0.0000000 | |||
Total Securities | 32,187,056.86 | 2,885,808.69 | |||||
I. COLLECTIONS | |||||||
Lease Payments: ( Lease SUBI) | |||||||
Monthly Principal | 21,387,729.70 | ||||||
Monthly Interest | 6,245,290.10 | ||||||
Total Monthly Payments | 27,633,019.80 | ||||||
Interest Rate Cap Payments | 0.00 | ||||||
Advances: | |||||||
Aggregate Monthly Payment Advances | 1,197,701.93 | ||||||
Aggregate Sales Proceeds Advance | 1,448,708.80 | ||||||
Total Advances | 2,646,410.73 | ||||||
Vehicle Disposition Proceeds: | |||||||
Reallocation Payments | 2,260,672.64 | ||||||
Repurchase Payments | 63,500.64 | ||||||
Net Auction Proceeds | 0.00 | ||||||
Recoveries | 0.00 | ||||||
Net Liquidation Proceeds | 6,740,135.73 | ||||||
Excess Wear and Tear and Excess Mileage | 13,101.21 | ||||||
Remaining Payoffs | 0.00 | ||||||
Net Insurance Proceeds | 1,250,068.56 | ||||||
Residual Value Surplus | 8,133.61 | ||||||
Total Collections | 40,615,042.92 | ||||||
II. COLLATERAL POOL BALANCE DATA | |||||||
Number | Book Amount | Discount Rate | Securitization Value | ||||
Pool Balance - Beginning of Period | 69,493 | 1,595,226,598.13 | 4.50000% | 1,560,235,442.37 | |||
Total Depreciation Received | - | (20,698,347.53) | (20,967,313.04) | ||||
Principal Amount of Gross Losses | (117) | (3,032,128.57) | (3,047,078.14) | ||||
Repurchase / Reallocation | (3) | (64,416.45) | (63,500.64) | ||||
Early Terminations | (9) | (182,203.67) | (172,001.16) | ||||
Scheduled Terminations | (344) | (7,937,569.41) | (7,937,163.88) | ||||
Pool Balance - End of Period | 69,020 | 1,563,311,932.50 | 4.50000% | 1,528,048,385.51 | |||
III. DISTRIBUTIONS | |||||||
Total Collections | 40,615,042.92 | ||||||
Reserve Amounts Available for Distribution | 0.00 | ||||||
Total Available for Distribution | 40,615,042.92 | ||||||
1. Amounts due Indenture Trustee as Compensation or Indemnity | 0.00 | ||||||
2. Reimbursement of Payment Advance | 1,506,487.21 | ||||||
3. Reimbursement of Sales Proceeds Advance | 1,164,027.79 | ||||||
4. Servicing Fee: | |||||||
Servicing Fee Due | 1,300,196.20 | ||||||
Servicing Fee Paid | 1,300,196.20 | ||||||
Servicing Fee Shortfall | 0.00 | ||||||
Total Trustee, Advances and Servicing Fee Paid | 3,970,711.20 | ||||||
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 | 237,692.02 | ||||||
Class A-1 Notes Monthly Interest Paid | 237,692.02 | ||||||
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 | 552,500.00 | ||||||
Class A-2 Notes Monthly Interest Paid | 552,500.00 | ||||||
Chg in Class A-2 Notes Int. Carryover Shortfall | 0.00 | ||||||
Class A-3 Notes Monthly Interest | 0.00 | ||||||
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 | 862,750.00 | ||||||
Class A-3 Notes Monthly Interest Paid | 862,750.00 | ||||||
Chg in Class A-3a Notes Int. Carryover Shortfall | 0.00 | ||||||
Class A-4 Monthly Interest | |||||||
Class A-4a Notes Interest Carryover Shortfall | 0.00 | ||||||
Class A-4a Notes Interest on Interest Carryover Shortfall | 967,866.67 | ||||||
Class A-4a Notes Monthly Available Interest Distribution Amount | 0.00 | ||||||
Class A-4a Notes Monthly Interest Paid | 967,866.67 | ||||||
Chg in Class A-4a Notes Int. Carryover Shortfall | 0.00 | ||||||
Class A-4b Notes Interest Carryover Shortfall | 0.00 | ||||||
Class A-4b Notes Interest on Interest Carryover Shortfall | 0.00 | ||||||
Class A-4b Notes Monthly Available Interest Distribution Amount | 265,000.00 | ||||||
Class A-4b Notes Monthly Interest Paid | 265,000.00 | ||||||
Chg in Class A-4b 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 | ||||||
0.00 | |||||||
Total Note and Certificate Monthly Interest | |||||||
Total Note and Certificate Monthly Interest Due | 2,885,808.69 | ||||||
Total Note and Certificate Monthly Interest Paid | 2,885,808.69 | ||||||
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 | 33,758,523.03 | ||||||
6. Total Monthly Principal Paid on the Notes | |||||||
Total Monthly Principal Paid on the Class A Notes | 32,187,056.86 | ||||||
Total Class A Noteholders' Principal Carryover Shortfall | 0.00 | ||||||
Total Class A Noteholders' Principal Distributable Amount | 32,187,056.86 | ||||||
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 | 1,571,466.17 | ||||||
IV. RESERVE ACCOUNT | |||||||
Initial Reserve Account Amount | 25,201,482.29 | ||||||
Required Reserve Account Amount | 50,402,964.59 | ||||||
Beginning Reserve Account Balance | 37,780,934.67 | ||||||
Reinvestment Income for the Period | 138,543.91 | ||||||
Reserve Fund Available for Distribution | 37,919,478.58 | ||||||
Reserve Fund Draw Amount | 0.00 | ||||||
Deposit of Remaining Available Collections | 1,571,466.17 | ||||||
Gross Reserve Account Balance | 39,490,944.75 | ||||||
Remaining Available Collections Released to Seller | 0.00 | ||||||
Ending Reserve Account Balance | 39,490,944.75 | ||||||
V. POOL STATISTICS | |||||||
Weighted Average Remaining Maturity | 27.78 | ||||||
Monthly Prepayment Speed | 24.000% | ||||||
Lifetime Prepayment Speed | -39.000% | ||||||
$ | units | ||||||
Recoveries of Defaulted and Casualty Receivables | 2,219,728.92 | ||||||
Securitization Value of Defaulted Receivables and Casualty Receivables | 3,047,078.14 | 117 | |||||
Aggregate Defaulted and Casualty Gain (Loss) | (827,349.22) | ||||||
Pool Balance at Beginning of Collection Period | 1,560,235,442.37 | ||||||
Net Loss Ratio | -0.0530% | ||||||
Cumulative Net Losses for all Periods | 0.1382% | 2,322,556.40 | |||||
Delinquent Receivables: | Amount | Number | |||||
31-60 Days Delinquent | 15,166,746.42 | 637 | |||||
61-90 Days Delinquent | 4,055,641.07 | 164 | |||||
91-120+ Days Delinquent | 1,306,883.49 | 50 | |||||
Total Delinquent Receivables: | 20,529,270.98 | 851 | |||||
60+ Days Delinquencies as Percentage of Receivables | 0.34% | ||||||
Aggregate Sales Performance of Auctioned Vehicles | $ | units | |||||
Sales Proceeds | 1,283,657.04 | 71 | |||||
Securitization Value | 1,516,554.21 | ||||||
Aggregate Residual Gain (Loss) | (232,897.17) | ||||||
Cumulative Sales Performance of Auctioned Vehicles | $ | units | |||||
Cumulative Sales Proceeds | 2,900,596.04 | 162 | |||||
Cumulative Securitization Value | 2,725,371.73 | ||||||
Cumulative Residual Gain (Loss) | 175,224.31 | ||||||
VI. Reconciliation of Advances | |||||||
Beginning Balance of Residual Advance | 1,743,358.48 | ||||||
Reimbursement of Outstanding Advance | 1,164,027.79 | ||||||
Additional Advances for current period | 1,448,708.80 | ||||||
Ending Balance of Residual Advance | 2,028,039.49 | ||||||
Beginning Balance of Payment Advance | 3,321,179.70 | ||||||
Reimbursement of Outstanding Payment Advance | 1,506,487.21 | ||||||
Additional Payment Advances for current period | 1,197,701.93 | ||||||
Ending Balance of Payment Advance | 3,012,394.42 |