1 Exhibit Index Exhibit No. Page - ----------- ---- 21.1 Monthly Servicer's Certificate dated February 10, 2000 8 prepared by the Servicer and sent to the Trustee pursuant to Section 3.06(a) of the Series 1998-1 Supplement covering the period of January 1, 2000 through January 31, 2000. 7 2 ASSET-BACKED FINANCING FACILITY Advanta Business Services Corp., as Servicer Monthly Servicer Certificate Collection Period: January 1, 2000 - January 31, 2000 Settlement Date: 15-Feb-00 --------- A. SERIES INFORMATION Advanta Leasing Receivables Corp. IV and Advanta Leasing Receivables Corp. V Equipment Receivables Asset-Backed Notes, Series 1998-1 I. SERIES INFORMATION INCLUDING PLEDGED PROPERTY CONVEYED (a.) Beginning Aggregate Contract Principal Balance ("ACPB") .................................... $ 202,389,275.26 ---------------- (b.) Contract Principal Balance of all Collections allocable to Contracts ............................................................. $ 10,651,445.76 --------------- (c.) Contract Principal Balance of Charged-Off Contracts ..................... $ 696,663.35 --------------- (d.) Total decline in Principal Balance .......................................................... $ 11,348,109.11 ---------------- (e.) Ending Aggregate Contract Principal Balance of all Contracts as of this Settlement Date ..................................................................... $ 191,041,166.15 ---------------- Balances on this Settlement Date after payment on the related Payment Date (f.) Class A Principal Balance as of this Settlement Date ........................................ $ 168,727,421.16 ---------------- (Class A Note Factor) ............................... 0.5094427 --------- (g1.) Class A-1 Principal Balance (Note Factor) .......... 0.0000000 - --------- --------------- (g2.) Class A-2 Principal Balance (Note Factor) ......... 0.5238285 $ 99,527,421.16 --------- --------------- (g3.) Class A-3 Principal Balance (Note Factor) ......... 1.0000000 $ 23,300,000.00 --------- --------------- (g4.) Class A-4 Principal Balance (Note Factor) ......... 1.0000000 $ 45,900,000.00 --------- --------------- (h.) Class B Principal Balance as of this Settlement Date ........................................ $ 9,647,825.79 ---------------- (Class B Note Factor) ............................... 0.5094427 --------- (i.) Class C Principal Balance as of this Settlement Date ........................................ $ 3,140,908.56 ---------------- (Class C Note Factor) ............................... 0.3184860 --------- (l.) Class D Principal Balance as of this Settlement Date ........................................ $ 9,525,010.64 ---------------- (Class D Note Factor) ............................... 0.6349878 --------- II. COMPLIANCE RATIOS (a.) Aggregate Contract Balance Remaining ("CBR") of all Contracts as of the related Calculation Date ................................................ $ 208,609,226.87 ---------------- (b1.) % of CBR 31 days or more delinquent as of the related Calculation Date ............................................................................ 8.94% ---------------- (b2.) Preceeding Month %: Dec-99 .......................... 8.32% --------- ---------------- (b3.) 2nd Preceeding Month %: Nov-99 .......................... 7.77% --------- ---------------- (b4.) Three month rolling average % of CBR 31 days or more delinquent .................................................................................. 8.34% ---------------- (c.) Does the three month rolling average % of CBR which are 31 days or more delinquent exceed 10.5% ? . Y or N. NO ---------------- (Amortization Period Only) (d) Cumulative Net Loss Percentage as of the related Collection Period ........................................................................... 1.98% ---------------- Does the Cumulative Net Loss Percentage exceed (d1.) 4.0% from the Beginning Period to and including 12th Collection Period ? Y or N. ................................................................ N/A ---------------- (d2.) 5.5% from 13th Collection Period to and including 24th Collection Period ? Y or N ............................................................. NO ---------------- (d3.) 7.0% from 25th Collection Period and thereafter? Y or N ...................................................................................... N/A ---------------- (If Yes to e1 or e2 or e3, then a Residual Event occurs) (e1.) Residual Realization for the related Collection Period > 100% (YES/NO) ..................................................................... YES ---------------- (e2.) Preceeding Month: Dec-99 > 100% (YES/NO) ......... YES --------- ---------------- (e3.) 2nd Preceeding Month: Nov-99 > 100% (YES/NO) ......... YES --------- ---------------- (e4.) Three month rolling average Residual Realization Ratio > 100% (YES/NO) ...................................................................... YES ---------------- (If less than 100%, then a Residual Event Occurs) III. FLOW OF FUNDS The amount of available funds on deposit in the Series 1998-1 Facility Account .................................................... $ 13,272,036.36 ---------------- (1) On the Payment Date which is also the Amortization Date and each Payment Date thereafter (a.) To the Servicer, Unrecoverable Servicer Advances ............................................ - ---------------- (b.) To the Servicer, if ABS is not the Servicer, Servicing Fee and Ancillary Servicing Income, if any ......................................................................................... ---------------- To Series 1998-1 Noteholders: (c.) To Class A, the total Class A Note Interest and Class A Overdue Interest for the related period ................................................... $ 875,193.64 ---------------- Interest on Class A-1 Notes .......................... $ - ---------------- Page 1 of 3 3 Interest on Class A-2 Notes ................... $ 531,317.81 ------------ Interest on Class A-3 Notes ................... $ 115,140.83 ------------ Interest on Class A-4 Notes ................... $ 228,735.00 ------------ (d.) Interest on Class B Notes for the related period ............................................ $ 51,956.34 ---------------- (e.) Interest on Class C Notes for the related period ............................................ $ 21,056.16 ---------------- (f.) To Series 1998-1 Noteholders: To Class A, the total Principal Payment and Class A Overdue Principal, if any ........................................................................... 10,022,641.84 ---------------- Principal Payment to Class A-1 Noteholders .... N/A --------------- Principal Payment to Class A-2 Noteholders .... $ 10,022,641.84 --------------- Principal Payment to Class A-3 Noteholders .... N/A --------------- Principal Payment to Class A-4 Noteholders .... N/A --------------- To Class B for Principal Payment and Overdue Principal, if any ............................... 573,094.18 ---------------- To Class C for Principal Payment and Overdue Principal, if any ............................... 752,373.09 ---------------- (g) Overdue Principal (included in the Principal Payments per above, if any): To Class A, total for Overdue Principal .......................... N/A --------------- Overdue Principal to Class A-1 N/A --- Overdue Principal to Class A-2 N/A --- Overdue Principal to Class A-3 N/A --- Overdue Principal to Class A-4 N/A --- To Class B for Overdue Principal ................................. N/A --------------- To Class C for Overdue Principal ................................. N/A --------------- (h1.) Until the Reserve Account Funding Date: To the Reserve Account, the amount equal to the Servicing Fee otherwise payable to ABS ................................................................ N/A ----------------- (h2.) After the Reserve Account Funding Date: To the Servicer, ABS, the Servicing Fee plus Ancillary Servicing Income, if any .................................................................... 168,657.73 ----------------- (i.) To the Reserve Account, the amount needed to increase the amount on deposit in the Reserve Account to the Required Reserve Amount for such Payment Date ........................................................ N/A ----------------- (j.) Upon the occurrence of a Residual Event the lesser of: (j1.) (A) the Available Funds remaining on deposit in the Facility Account and ............................................. N/A --------------- (j2.) (B) the aggregate amount of Residual Receipts included in Available Funds ............................................... N/A --------------- (j3.) To be deposited to the Residual Account ..................................................... N/A ----------------- (k.) To Class D Noteholders for Principal Payment ................................................ - ----------------- (l.) To Class D Noteholders for Overdue Principal, if any ........................................ N/A ----------------- (3) To ABS, the Servicing Fee previously due, but deposited to the Reserve Account ...................................................... $ - ----------------- (4) To the Series Obligors, as holders of the Residual Interest, any Available Funds remaining on deposit in the Facility Account .................................................................. $ 807,063.37 ----------------- IV. SERVICER ADVANCES (a.) Aggregate amount of Servicer Advances at the beginning of the related Collection Period ............................................................ 3,621,042.14 ----------------- (b.) Servicer Advances reimbursed during the related Collection Period ...................................................................................... 61,910.10 ----------------- (c.) Amount of unreimbursed Servicer Advances to be reimbursed on the Settlement Date ...................................................................... ----------------- (d.) Servicer Advances made during the related Collection Period ................................. 192,687.32 ----------------- (e.) Aggregate amount of Servicer Advances at the end of the Collection Period ........................................................................... $ 3,751,819.36 ----------------- V. RESERVE ACCOUNT (a.) Amount on deposit at the beginning of the related Collection Period ........................................................................... $ 6,268,088.60 ----------------- (b.) Amounts used to cover shortfalls, if any, for the related Collection Period ........................................................................... $ - ----------------- (c.) Amounts transferred from the Facility Account, if applicable ................................ $ - ----------------- (d.) Interest earned on Reserve Balance .......................................................... $ 27,129.61 ----------------- (e.) Reserve Account Ending Balance before calculating Required Reserve Amount .............................................................................. $ 6,295,218.21 ----------------- ----------------- (f.) Required Reserve Amount needed as of the related Collection Period ........................................................................... $ 5,899,275.05 ----------------- (g1.) If (f) is greater than (e), then amount of shortfall ........................................ 0.00 ----------------- (g2.) If (e) is greater than (f), then excess amount to be transferred to the Series Obligors .......................................................... 395,943.16 ----------------- (h.) Amounts on deposit as of this Settlement Date (e minus g2) .................................. $ 5,899,275.05 ----------------- VI. RESIDUAL ACCOUNT (a.) Amount on deposit at the beginning of the related Collection Period ........................................................................... 0.00 ----------------- (b.) Amounts transferred from the Facility Account ............................................... 0.00 ----------------- (c.) Amounts used to cover shortfalls for the related Collection Period ........................................................................... 0.00 ----------------- (d.) Amount on deposit as of this Settlement Date ................................................ 0.00 ----------------- VII. ADDITIONAL PROPERTY FUNDING ACCOUNT (a.) Amount on deposit at the beginning of the related Collection Period ........................................................................... 0.00 ----------------- (b.) Amounts transferred from the Facility Account ............................................... 0.00 ----------------- (c.) Amounts transferred to the Series Obligors .................................................. 0.00 ----------------- Page 2 of 3 4 (d.) Amount on deposit as of this Settlement Date ................................................ 0.00 ----------------- VIII. ADVANCE PAYMENTS (a.) Beginning aggregate Advance Payments ........................................................ $ 2,363,461.25 ----------------- (b.) Amount of Advance Payments collected during the related Collection Period ........................................................................... $ 1,818,868.21 ----------------- (c.) Investment earnings for the related Collection Period ....................................... $ 12,539.89 ----------------- (d.) Amount of Advance Payments withdrawn for deposit into Facility Account ............................................................................ $ 1,721,716.27 ----------------- (e.) Ending aggregate Advance Payments ........................................................... $ 2,473,153.08 ----------------- ADVANTA BUSINESS SERVICES CORP., as Servicer By: /s/ John Paris Title: SR VP ___________________ Date: 02/10/00__________________ Page 3 of 3