TL Lease Funding Corp. IV
Monthly Statement
For the Collection Period ended 7/31/96
Note
Collection Distribution
Account Account
Beginning Balance $0.00
Deposit of Collections and Other Amounts
Collections during the Collection
Period [4.7(b)] 4,087,810.66
Less: Collections to reimburse Servicer
Advances [4.7(c)(i)] (823,738.86)
Less: Collections from Repurchased Leases
or Substituted Leases[4.7 (c)(i)] 0.00
Add: Servicer Advances [3.3] 725,700.37
Add: Investment Earnings 13,395.86
Available Amount $4,003,168.03
Payments on Payment Date [4.8]
(a)Unreimbursed Servicer Advances to the Servicer 0.00
(when deemed by Servicer to be uncollectible)
(b) Servicing Fee Arrearage to the Servicer 0.00
(c) Servicing Fee to the Servicer (59,565.56)
(d) Class A Interest Arrearage 0.00 0.00
(e) Class A Interest Payment Amount (300,354.51) 300,354.51
(f) Class B Interest Arrearage 0.00 0.00
(g) Class B Interest Payment Amount (42,748.68) 42,748.68
(h) Class A Principal Payment Amount (3,159,708.81) 3,159,708.81
(i) Class B Principal Payment Amount as follows:
1) to Class A Holders to extent of Subordination
Short 0.00 0.00
2) remainder to Class A Holders if Restricting
Event exists 0.00 0.00
3) if no Restricting Event, remainder to Class (388,831.10) 388,831.10
(j) Class B Holders, if Restricting Event
exists 0.00 0.00
(k) Certificateholders (51,959.37)
Subtotal ($4,003,168.03) $3,891,643.10
Distributions to Noteholders (3,891,643.10)
Ending Balance $0.00 $0.00
TL Lease Funding Corp. IV
Monthly Statement
For the Collection Period ended 7/31/96
Subordination Amount
Aggregate Discounted Lease Balance
(on the last day of the Collection Period) $67,846,242
Add: Available Amount less Servicing Fee,
Class A&B Interest Payment Amount and Class A Principal 440,790
Less: Outstanding Class A Principal Balance
(after current Payment Date) (53,156,762)
Subordination Amount $15,130,270
Minimum Required Subordination Amount $4,590,968
Subordination Shortfall $0
Restricting Event calculations
(1)Average Aggregate Delinquencies -
trailing 6 months 663,731
Average Aggregate Discounted Lease Balance -
trailing 6 months 76,945,694
Delinquency Ratio 0.86%
Maximum Delinquency Ratio 2.00%
(2)Aggregate Discounted Lease Balance of Charged-off
Leases - trailing 6 months 1,119,644
Annualized Net Charge-offs 2,239,288
Average Aggregate Discounted Lease Balance -
trailing 6 months 76,945,694
Charge-off Ratio 2.91%
Maximum Charge-off Ratio 5.00%
Restricting Event No
Substitution calculations (Section 5.1)
(1)Cumulative Discounted Lease Balance of Leases
substituted for leases subject to Defaulted Leases $0
Maximum ADLB of substituted Leases (6% of ADLB at Closing Date) $6,481,364
(2)Cumulative Discounted Lease Balance of Leases
substituted for Leases subject to Warranty Event $0
Maximum ADLB of substituted Leases (5% of ADLB at Closing Date) $5,401,137
(3)Cumulative Discounted Lease Balance 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) $67,846,242
Less:Outstanding Class A Principal Balance (on the last day of
the Collection Period) ($56,316,471)
substitution subordination amount $11,529,771
Greater of:
a) 17% of ADLB on the last day of the Collection Period $11,533,861
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 $2,898,860
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 7/31/96
Payments on Class A & B Securities (per $1,000 of initial principal balance,
per page 35 & 36 of Prospectus)
Class A
Principal Payment $35.2414529
Interest Payment $3.3499699
Class B
Principal Payment $35.9953040
Interest Payment $3.9573782
Remaining outstanding principal balance, Class A
(per $1,000 of initial principal balance) $592.8778980
Remaining outstanding principal balance, Class B
(per $1,000 of initial principal balance) $592.9919231
Class A Pool Factor 59.2877898%
(remaining outstanding principal balance / initial
outstanding principal balance, after current payment)
Class B Pool Factor 59.2991923%
(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 67,846,242
ADLRB on the last day of the Collection Period 74,317,129
Loss and Delinqency Data
DLB of Defaulted Leases for the Collection Period $182,841.49
# of Defaulted Leases 32
DLB of Early Termination Leases for the Collection Period $244,750.90
# of Early Termination Leases 46
DLB of repurchased Leases for the Collection Period $0.00
# of repurchased Leases 0
DLB of delinquent Leases (90 days delinquent) for the
Collection Period $580,850.44
TL Lease Funding Corp. IV
Monthly Statement
For the Collection Period ended 7/31/96
ADLB
per AR Aging Percent
Current 64,709,508 95.35%
31-60 Days Past Due 1,997,560 2.94%
61-90 Days Past Due 574,475 0.85%
Over 90 Days Past Due 580,850 0.86%
Total $67,862,393 100.00%