TL Lease Funding Corp. IV
Monthly Statement
For the Collection Period ended 5/31/96
Note
Collection Distribution
Account Account
Beginning Balance $0
Deposit of Collections and Other Amounts
Collections during the Collection Period 4,298,446.00
[4.7(b)]
Less:
Collections to reimburse ServicerAdvances
[4.7(c)(i)] (713,539.00)
Collections from Repurchased Leases or
Substituted Leases [(4.7(c)(ii)] 0.00
Add: Servicer Advances [3.3] 756,810.00
Add: Investment Earnings 17,466.00
Available Amount 4,359,183.00
Payments on Payment Date [4.8]
(a) Unreimbursed Servicer Advances to the
Servicer(when deemed by Servicer to be
uncollectible) 0.00
(b)Servicing Fee Arrearage to the Service 0.00
(c)Servicing Fee to the Servicer (65,530.00)
(d)Class A Interest Arrearage 0.00 0.00
(e)Class A Interest Payment Amount (334,999.00) 334,999.00
(f)Class B Interest Arrearage 0.00 0.00
(g)Class B Interest Payment Amount (48,186.00) 48,186.00
(h)Class A Principal Payment Amount (3,509,837.00) 3,509,837.00
(i)ClassB Principal Amount as follows:
1)to Class A Holders to extent of Subor
dination Shortfall 0.00 0.00
2) remainder to Class A Holders if
restricting events exists 0.00 0.00
3) if no Restricting Event, remainder to
Class B Holders (400,631.00) 400,631.00
(j)Class B Holders, if Restricting Event 0.00 0.00
exists
(k)Certificateholders 0.00
Subtotal (4,359,183.00) 4,293,653.00
Distributions to Noteholders (4,293,653.00)
Ending Balance 0.00 0.00
TL Lease Funding Corp. IV
Monthly Statement
For the Collection Period ended 5/31/96
Subordination Amount
Aggregate Discounted Lease Balance
(on the last day of the Collection Period) $74,763,374
Add: Available Amount less Servicing Fee, Class A&
B Interest Payment Amount and Class A Principal
Payment Amount 400,631
Less: Outstanding Class A Principal Balance
(AFTER CURRENT PAYMENT DATE) (59,302,537)
Subordination Amount $15,861,468
Minimum Required Subordination Amount $4,590,968
Subordination Shortfall 0
Restricting Event calculations
(1)Average Aggregate Delinquencies - trailing 6 mo 670,710
Average Aggregate Discounted Lease Balance -
trailing 6 months 84,515,223
Delinquency Ratio 79.00%
Maximum Delinquency Ratio 2.00%
(2)Aggregate Discounted Lease Bal. of Charged-off 1,115,410
Annualized Net Charge-offs 2,230,820
Average Aggregate DiLease Balance-trailing 6 months 84,515,223
Charge-off Ratio 2.64%
Maximum Charge-off Ratio 5.00%
Restricting Event NO
Substitution calculations (Section 5.1)
(1)Cumulative DiscouLeases substituted $0
for Leases subject to Defaulted Leases
Maximum ADLB of substituted Leases (6% of ADLB at $6,481,364
closing date)
(2)Cumulative DiscouLeases substituted $0
for Leases subject to Warranty Event
Maximum ADLB of substituted Leases (5% of ADLB at $5,401,137
closing date)
(3)Cumulative DiscouBalance of Leases substituted $0
for Leases
Maximum ADLB of substituted Leases
(10% of ADLB at Closing Date) $10,802,273
(4)Aggregate Discounted Lease Balance
(on the last day of the Collection Period) $71,478,667
Less: Outstanding Class A Principal Balance
(on the last day of the Collection) (59,302,537)
substitution subordination amount $12,176,130
Greater of:
a)17%ofADLB on the last day of the Collection Period 12,151,373
b) Minimum Required Subordination Amount $4,590,968
If substitution subordination amount does not exceed the greater of
(a) and (b), there can be no substitutions for Early Termination
Leases or Warranty Events
Early Termination Leases (Section 3.2(b))
Aggregate principal amount of all Leases which have become
Early Termination Leases $2,654,109
Maximum Early Termination Leases (3% of ADLRB at Cut
Off Date) 3,448,849
TL Lease Funding Corp. IV
Monthly Statement
For the Collection Period ended 5/31/96
Payments on ClasSecurities (per $1,000 of initial
principal balance, per page 35 & 36 of Prospectus)
Class A
Principal Payment 33.3047489
Interest Payment 3.5275952
Class B
Principal Payment 42.9194661
Interest Payment 4.2274131
Remaining outstanding principal balance, Class A 628.1193509
(per $1,000 of intial principal balance)
Remaining outstanding principal balance, Class B 628.9872270
(per $1,000 of intial principal balance)
Class A Pool Factor 62.8119351%
(remaining outstanding principal balance /
initial outstanding principal balance, after current payment)
Class B Pool Factor 62.8987227%
(remaining outstanding principal balance /
initial outstanding principal balance, after current payment)
Discounted Lease and Residual Data
ADLB on the last day of the Collection Period 71,695,906
ADLRB on the last day of the Collection Period 78,279,041
Loss and Delinqency Data
DLB of Defaulted Leases for the Collection Period $125,664.00
# of Defaulted Leases 20
DLB of Early Termination Leases for the $247,374.00
Collection Period
# of Early Termination Leases 53
DLB of repurchased Leases for the Collection Perio $0
# of repurchased Leases 0
DLB of delinquent Leases (90 days delinquent) for the
Collection Period $571,521
TL Lease Funding Corp. IV
Monthly Statement
For The Collection Period ended 5/31/96
ADLB
per AR Aging Percent
Current 69,084,068 96.65%
31-60 Days past Due 1,209,418 1.69%
61-90 Days Past Due 615,558 0.86%
Over 90 Days Past Due 571,521 0.80%
Total 71,480,565 100.00%