Exhibit 20.1
Nissan Auto Lease Trust 2004-A
Settlement Statement
for Month Ended November 30, 2004
1-Nov-04 | Distribution Date | 15-Dec-04 | |||||
Collection Period End | 30-Nov-04 | 30/360 Days | 30 | ||||
Beg. of Interest Period | 15-Nov-04 | Actual/360 Days | 30 | ||||
End of Interest Period | 15-Dec-04 | ||||||
SUMMARY | |||||||
Coupon Rate | Initial Balance | Beginning Balance | Ending Balance | Pool Factor | |||
Total Portfolio | 1,680,098,819.60 | 1,622,316,069.47 | 1,592,319,596.60 | 0.9477535 | |||
Total Securities | 1,680,098,819.60 | 1,622,316,069.47 | 1,592,319,596.60 | 0.9477535 | |||
Class A-1 Notes | 2.105630% | 265,000,000.00 | 207,217,249.87 | 177,220,777.00 | 0.6687576 | ||
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 | 2.170000% | 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 | 29,996,472.87 | 363,602.38 | 113.1942372 | 1.3720845 | |||
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 | 882,466.67 | 0.0000000 | 1.8083333 | |||
Class A-4b | 0.00 | 265,000.00 | 0.0000000 | 2.6500000 | |||
Certificates | 0.00 | 0.00 | 0.0000000 | 0.0000000 | |||
Total Securities | 29,996,472.87 | 2,926,319.05 | |||||
I. COLLECTIONS | |||||||
Lease Payments: ( Lease SUBI) | |||||||
Monthly Principal | 20,919,326.01 | ||||||
Monthly Interest | 6,281,838.17 | ||||||
Total Monthly Payments | 27,201,164.18 | ||||||
Interest Rate Cap Payments | 0.00 | ||||||
Advances: | |||||||
Aggregate Monthly Payment Advances | 1,406,153.83 | ||||||
Aggregate Sales Proceeds Advance | 812,499.86 | ||||||
Total Advances | 2,218,653.69 | ||||||
Vehicle Disposition Proceeds: | |||||||
Reallocation Payments | 1,041,340.08 | ||||||
Repurchase Payments | 0.00 | ||||||
Net Auction Proceeds | 0.00 | ||||||
Recoveries | 0.00 | ||||||
Net Liquidation Proceeds | 5,874,703.07 | ||||||
Excess Wear and Tear and Excess Mileage | 2,647.56 | ||||||
Remaining Payoffs | 0.00 | ||||||
Net Insurance Proceeds | 857,613.85 | ||||||
Residual Value Surplus | 1,149.03 | ||||||
Total Collections | 37,197,271.46 | ||||||
II. COLLATERAL POOL BALANCE DATA | |||||||
Number | Book Amount | Discount Rate | Securitization Value | ||||
Pool Balance - Beginning of Period | 70,303 | 1,656,828,431.03 | 4.50000% | 1,622,316,069.47 | |||
Total Depreciation Received | (20,999,489.06) | (21,133,898.16) | |||||
Principal Amount of Gross Losses | (78) | (2,045,947.25) | (2,065,917.99) | ||||
Repurchase / Reallocation | 0 | 0.00 | 0.00 | ||||
Early Terminations | (8) | (143,124.32) | (132,239.46) | ||||
Scheduled Terminations | (273) | (6,600,229.84) | (6,664,417.26) | ||||
Pool Balance - End of Period | 69,944 | 1,627,039,640.56 | 4.50000% | 1,592,319,596.60 | |||
III. DISTRIBUTIONS | |||||||
Total Collections | 37,197,271.46 | ||||||
Reserve Amounts Available for Distribution | 0.00 | ||||||
Total Available for Distribution | 37,197,271.46 | ||||||
1. Amounts due Indenture Trustee as Compensation or Indemnity | 0.00 | ||||||
2. Reimbursement of Payment Advance | 1,235,242.53 | ||||||
3. Reimbursement of Sales Proceeds Advance | 409,186.50 | ||||||
4. Servicing Fee: | |||||||
Servicing Fee Due | 1,351,930.06 | ||||||
Servicing Fee Paid | 1,351,930.06 | ||||||
Servicing Fee Shortfall | 0.00 | ||||||
Total Trustee, Advances and Servicing Fee Paid | 2,996,359.09 | ||||||
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 | 363,602.38 | ||||||
Class A-1 Notes Monthly Interest Paid | 363,602.38 | ||||||
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 | |||||||
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 | ||||||
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 | 0.00 | ||||||
Class A-4a Notes Monthly Available Interest Distribution Amount | 882,466.67 | ||||||
Class A-4a Notes Monthly Interest Paid | 882,466.67 | ||||||
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 | ||||||
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 | 2,926,319.05 | ||||||
Total Note and Certificate Monthly Interest Paid | 2,926,319.05 | ||||||
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 | 31,274,593.32 | ||||||
6. Total Monthly Principal Paid on the Notes | |||||||
Total Monthly Principal Paid on the Class A Notes | 29,996,472.87 | ||||||
Total Class A Noteholders' Principal Carryover Shortfall | 0.00 | ||||||
Total Class A Noteholders' Principal Distributable Amount | 29,996,472.87 | ||||||
Chg in Total Class A Noteholders' Principal Carryover Shortfall | 0.00 | ||||||
0.00 | |||||||
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 | ||||||
0.00 | |||||||
Remaining Available Collections | 1,278,120.45 | ||||||
IV. RESERVE ACCOUNT | |||||||
Initial Reserve Account Amount | 25,201,482.29 | ||||||
Required Reserve Account Amount | 50,402,964.59 | ||||||
Beginning Reserve Account Balance | 35,044,151.19 | ||||||
Reinvestment Income for the Period | 77,423.18 | ||||||
Reserve Fund Available for Distribution | 35,121,574.37 | ||||||
Reserve Fund Draw Amount | 0.00 | ||||||
Deposit of Remaining Available Collections | 1,278,120.45 | ||||||
Gross Reserve Account Balance | 36,399,694.82 | ||||||
Remaining Available Collections Released to Seller | 0.00 | ||||||
Ending Reserve Account Balance | 36,399,694.82 | ||||||
V. POOL STATISTICS | |||||||
Weighted Average Remaining Maturity | 29.73 | ||||||
Monthly Prepayment Speed | 11.000% | ||||||
Lifetime Prepayment Speed | -81.000% | ||||||
$ | units | ||||||
Recoveries of Defaulted and Casualty Receivables | 1,247,038.33 | ||||||
Securitization Value of Defaulted Receivables and Casualty Receivables | 2,065,917.99 | 78 | |||||
Aggregate Defaulted and Casualty Gain (Loss) | (818,879.66) | ||||||
Pool Balance at Beginning of Collection Period | 1,622,316,069.47 | ||||||
Net Loss Ratio | -0.0505% | ||||||
Cumulative Net Losses for all Periods | 0.1419% | 2,384,346.08 | |||||
Delinquent Receivables: | Amount | Number | |||||
31-60 Days Delinquent | 15,421,163.08 | 635 | |||||
61-90 Days Delinquent | 2,591,597.70 | 100 | |||||
91-120+ Days Delinquent | 550,667.26 | 20 | |||||
Total Delinquent Receivables: | 18,563,428.04 | 755 | |||||
60+ Days Delinquencies as Percentage of Receivables | 0.19% | ||||||
Aggregate Sales Performance of Auctioned Vehicles | $ | units | |||||
Sales Proceeds | 624,813.00 | 34 | |||||
Securitization Value | 751,612.82 | ||||||
Aggregate Residual Gain (Loss) | (126,799.82) | ||||||
Cumulative Sales Performance of Auctioned Vehicles | $ | units | |||||
Cumulative Sales Proceeds | 1,050,814.00 | 58 | |||||
Cumulative Securitization Value | 1,282,339.38 | ||||||
Cumulative Residual Gain (Loss) | (231,525.38) | ||||||
VI. Reconciliation of Advances | |||||||
Beginning Balance of Residual Advance | 597,331.62 | ||||||
Reimbursement of Outstanding Advance | 409,186.50 | ||||||
Additional Advances for current period | 812,499.86 | ||||||
Ending Balance of Residual Advance | 1,000,644.98 | ||||||
Beginning Balance of Payment Advance | 3,089,568.61 | ||||||
Reimbursement of Outstanding Payment Advance | 1,235,242.53 | ||||||
Additional Payment Advances for current period | 1,406,153.83 | ||||||
Ending Balance of Payment Advance | 3,260,479.91 | ||||||