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Exhibit 21.1
ASSET-BACKED FINANCING FACILITY
ADVANTA BUSINESS SERVICES CORP., AS SERVICER
MONTHLY SERVICER CERTIFICATE
COLLECTION PERIOD: June 1, 2001 - June 30, 2001
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SETTLEMENT DATE: 16-Jul-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
(a.) Beginning Aggregate Contract Principal Balance ("ACPB") ................. $ 59,898,505.49
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(b.) Contract Principal Balance of all Collections allocable to Contracts ..... $ 4,742,662.73
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(c.) Contract Principal Balance of Charged-Off Contracts ...................... $ 303,674.85
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(d.) Total decline in Principal Balance ....................................... $ 5,046,337.58
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(e.) Ending Aggregate Contract Principal Balance of all Contracts as of
this Settlement Date ..................................................... $ 54,852,167.91
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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 ..................... $ 45,327,157.27
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(Class A Note Factor) ............................. 0.1368574
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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) ......... 0.0000000 $ -
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(g3.) Class A-3 Principal Balance (Note Factor) ......... 0.0000000 $ 0.00
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(g4.) Class A-4 Principal Balance (Note Factor) ......... 0.9875198 45,327,157.27
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(h.) Class B Principal Balance as of this Settlement Date ..................... $ -
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(Class B Note Factor) 0.0000000
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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
(a.) Aggregate Contract Balance Remaining ("CBR") of all Contracts as of the
related Calculation Date ................................................. $ 58,372,728.98
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(b1.) % of CBR 31 days or more delinquent as of the related Calculation Date ... 6.69%
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(b2.) Preceeding Month %: May-01 .......... 6.81%
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(b3.) 2nd Preceeding Month %: Apr-01 .......... 6.56%
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(b4.) Three month rolling average % of CBR 31 days or more delinquent .......... 6.69%
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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 ....... 3.04%
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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: May-01 > 100% (YES/NO) .. YES
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(e3.) 2nd Preceeding Month: Apr-01 > 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
The amount of available funds on deposit in the Series 1998-1
Facility Account ......................................................... $ 6,262,800.54
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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 ......................... 26,531.95
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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 .......................................... $ 250,841.52
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Interest on Class A-1 Notes ........................... $ -
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Interest on Class A-2 Notes ........................... $ -
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Interest on Class A-3 Notes ........................... $ 22,106.52
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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 ......................... $ -
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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 ........................................................ 5,046,337.58
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Principal Payment to Class A-1 Noteholders ............ N/A
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Principal Payment to Class A-2 Noteholders ............
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Principal Payment to Class A-3 Noteholders ............ $ 4,473,494.85
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Principal Payment to Class A-4 Noteholders ............ $ 572,842.73
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To Class B for Principal Payment and Overdue Principal, if any ........... -
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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 ........................................................... 49,915.42
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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 .... $ 889,174.07
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IV. SERVICER ADVANCES
(a.) Aggregate amount of Servicer Advances at the beginning of the
related Collection Period ................................................ 1,402,169.39
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(b.) Servicer Advances reimbursed during the related Collection Period ........ 50,234.15
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(c.) Amount of unreimbursed Servicer Advances to be reimbursed on the
Settlement Date .......................................................... 26,531.95
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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 ................................................................... $ 1,325,403.29
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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 ....................................... $ 10,772.03
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(e.) Reserve Account Ending Balance before calculating Required Reserve
Amount ................................................................... $ 3,610,772.03
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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 ...................................................... 10,772.03
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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 ..................................... $ 1,166,683.22
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(b.) Amount of Advance Payments collected during the related
Collection Period ........................................................ $ 688,705.98
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(c.) Investment earnings for the related Collection Period .................... $ 4,259.99
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(d.) Amount of Advance Payments withdrawn for deposit into Facility Account ... $ 804,971.11
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(e.) Ending aggregate Advance Payments ........................................ $ 1,054,678.08
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ADVANTA BUSINESS SERVICES CORP., AS SERVICER
BY: /s/ Mark Shapiro
TITLE: Assistant Treasurer
DATE: 11-Jul-01
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