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ASSET-BACKED FINANCING FACILITY
ADVANTA BUSINESS SERVICES CORP., AS SERVICER
MONTHLY SERVICER CERTIFICATE
COLLECTION PERIOD: January 1, 2001 - January 31, 2001
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SETTLEMENT DATE: 15-Feb-01
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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
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(a.) Beginning Aggregate Contract Principal Balance ("ACPB") ....................... $90,365,377.73
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(b.) Contract Principal Balance of all Collections allocable to Contracts ......... $6,316,919.76
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(c.) Contract Principal Balance of Charged-Off Contracts .......................... $440,208.50
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(d.) Total decline in Principal Balance ........................................... $6,757,128.26
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(e.) Ending Aggregate Contract Principal Balance of all Contracts as of
this Settlement Date. ....................................................... $83,608,249.47
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BALANCES ON THIS SETTLEMENT DATE AFTER PAYMENT ON THE RELATED PAYMENT DATE
(f.) Class A Principal Balance as of this Settlement Date ......................... $73,842,746.07
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(Class A Note Factor)................................. 0.2229552
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(g1.) Class A-1 Principal Balance (Note Factor)............. 0.0000000 -
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(g2.) Class A-2 Principal Balance (Note Factor)............. 0.0244355 $4,642,746.07
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(g3.) Class A-3 Principal Balance (Note Factor)............. 1.0000000 $23,300,000.00
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(g4.) Class A-4 Principal Balance (Note Factor)............. 1.0000000 $45,900,000.00
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(h.) Class B Principal Balance as of this Settlement Date ......................... $240,492.76
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(Class B Note Factor) 0.0126990
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(i.) Class C Principal Balance as of this Settlement Date ......................... $ -
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(Class C Note Factor) 0.0000000
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(l.) Class D Principal Balance as of this Settlement Date ......................... $9,525,010.64
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(Class D Note Factor) 0.6349878
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II. COMPLIANCE RATIOS
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(a.) Aggregate Contract Balance Remaining ("CBR") of all Contracts
as of the related Calculation Date ........................................... $89,396,401.77
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(b1.) % of CBR 31 days or more delinquent as of the related Calculation Date ....... 6.73%
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(b2.) Preceeding Month %: Dec-00 .............. 6.11%
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(b3.) 2nd Preceeding Month %: Nov-00 .............. 5.35%
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(b4.) Three month rolling average % of CBR 31 days or more delinquent............... 6.06%
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(c.) Does the three month rolling average % of CBR which are 31 days or more
delinquent exceed 10.5% ? Y or N. NO
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(Amortization Period Only)
(d) Cumulative Net Loss Percentage as of the related Collection Period . ......... 2.94%
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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
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(d2.) 5.5% from 13th Collection Period to and including 24th Collection
Period ? Y or N. ........................................................... N/A
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(d3.) 7.0% from 25th Collection Period and thereafter ? Y or N. ................... NO
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(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
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(e2.) Preceeding Month: Dec-00 > 100%(YES/NO) ................. YES
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(e3.) 2nd Preceeding Month: Nov-00 > 100% (YES/NO) ................ YES
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(e4.) Three month rolling average Residual Realization Ratio > 100% (YES/NO) ...... YES
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(If less than 100%, then a Residual Event Occurs)
III. FLOW OF FUNDS
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The amount of available funds on deposit in the Series 1998-1
Facility Account ............................................................ $7,812,244.97
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(1) On the Payment Date which is also the Amortization Date and each Payment
Date thereafter
(a.) To the Servicer, Unrecoverable Servicer Advances ............................. 921.97
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(b.) To the Servicer, if ABS is not the Servicer, Servicing Fee and Ancillary
Servicing Income, if any.....................................................
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To Series 1998-1 Noteholders:
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(c.) To Class A, the total Class A Note Interest and Class A Overdue Interest
for the related period ....................................................... $395,337.42
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Interest on Class A-1 Notes ............................... $ -
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Interest on Class A-2 Notes ............................... $ 51,461.59
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Interest on Class A-3 Notes ............................... $ 115,140.83
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Interest on Class A-4 Notes ............................... $ 228,735.00
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(d.) Interest on Class B Notes for the related period. ............................ $5,234.46
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(e.) Interest on Class C Notes for the related period. ............................ $ -
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(f.) To Series 1998-1 Noteholders:
To Class A, the total Principal Payment and Class A Overdue Principal,
if any ..................................................................... 5,967,890.84
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Principal Payment to Class A-1 Noteholders ................ N/A
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Principal Payment to Class A-2 Noteholders ................ $ 5,967,890.84
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Principal Payment to Class A-3 Noteholders ................ N/A
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Principal Payment to Class A-4 Noteholders ................ N/A
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To Class B for Principal Payment and Overdue Principal, if any ............... 789,237.42
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To Class C for Principal Payment and Overdue Principal, if any................ -
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(g) Overdue Principal (included in the Principal Payments per above, if any):
To Class A, total for Overdue Principal ...................................... N/A
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Overdue Principal to Class A-1 N/A
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Overdue Principal to Class A-2 N/A
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Overdue Principal to Class A-3 N/A
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Overdue Principal to Class A-4 N/A
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To Class B for Overdue Principal ............................................. N/A
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To Class C for Overdue Principal ............................................. N/A
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(h1.) Until the Reserve Account Funding Date:
To the Reserve Account, the amount equal to the Servicing Fee
otherwise payable to ABS ..................................................... N/A
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(h2.) After the Reserve Account Funding Date:
To the Servicer, ABS, the Servicing Fee plus Ancillary Servicing
Income, if any .............................................................. 75,304.48
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(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
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(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
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(j2.) (B) the aggregate amount of Residual Receipts included in Available Funds...... N/A
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(j3.) To be deposited to the Residual Account ....................................... N/A
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(k.) To Class D Noteholders for Principal Payment................................... -
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(l.) To Class D Noteholders for Overdue Principal, if any........................... N/A
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(3) To ABS, the Servicing Fee previously due, but deposited to the
Reserve Account ........................................................... $ -
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(4) To the Trustee to Fund the Servicer Conversion Expense Account ..............
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(5) To the Series Obligors, as holders of the Residual Interest, any Available
Funds remaining on deposit in the Facility Account. ....................... $578,318.37
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IV. SERVICER ADVANCES
(a.) Aggregate amount of Servicer Advances at the beginning of the related
Collection Period. ......................................................... 1,931,460.13
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(b.) Servicer Advances reimbursed during the related Collection Period. .......... 61,316.48
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(c.) Amount of unreimbursed Servicer Advances to be reimbursed on the
Settlement Date. ............................................................ 921.97
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(d.) Servicer Advances made during the related Collection Period ................. -
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(e.) Aggregate amount of Servicer Advances at the end of the Collection
Period . .................................................................... $1,869,221.68
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V. RESERVE ACCOUNT
(a.) Amount on deposit at the beginning of the related Collection Period ......... $3,600,000.00
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(b.) Amounts used to cover shortfalls, if any, for the related
Collection Period ........................................................... $ -
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(c.) Amounts transferred from the Facility Account, if applicable................. $ -
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(d.) Interest earned on Reserve Balance .......................................... $17,777.95
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(e.) Reserve Account Ending Balance before calculating Required Reserve Amount ... $3,617,777.95
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(f.) Required Reserve Amount needed as of the related Collection Period .......... $3,600,000.00
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(g1.) If (f) is greater than (e), then amount of shortfall ........................ 0.00
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(g2.) If (e) is greater than (f), then excess amount to be transferred
to the Series Obligors ..................................................... 17,777.95
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(h.) Amounts on deposit as of this Settlement Date (e minus g2). ................. $3,600,000.00
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VI. RESIDUAL ACCOUNT
(a.) Amount on deposit at the beginning of the related Collection Period. ........ 0.00
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(b.) Amounts transferred from the Facility Account. .............................. 0.00
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(c.) Amounts used to cover shortfalls for the related Collection Period. ......... 0.00
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(d.) Amount on deposit as of this Settlement Date ................................ 0.00
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VII. ADDITIONAL PROPERTY FUNDING ACCOUNT
(a.) Amount on deposit at the beginning of the related Collection Period ......... 0.00
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(b.) Amounts transferred from the Facility Account. .............................. 0.00
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(c.) Amounts transferred to the Series Obligors .................................. 0.00
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(d.) Amount on deposit as of this Settlement Date. ............................... 0.00
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VIII. ADVANCE PAYMENTS
(a.) Beginning aggregate Advance Payments. ....................................... $1,271,658.06
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(b.) Amount of Advance Payments collected during the related Collection Period ... $1,047,582.33
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(c.) Investment earnings for the related Collection Period ....................... $7,963.53
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(d.) Amount of Advance Payments withdrawn for deposit into Facility Account ...... $701,015.02
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(e.) Ending aggregate Advance Payments ........................................... $1,626,188.90
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ADVANTA BUSINESS SERVICES CORP., AS SERVICER
BY: /s/ Mark Shapiro
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TITLE: Assistant Treasurer
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Date: 12-Feb-01
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