ASSET-BACKED FINANCING FACILITY
ADVANTA BUSINESS SERVICES CORP., AS SERVICER
MONTHLY SERVICER CERTIFICATE
COLLECTION PERIOD: February 1, 2002 - February 28, 2002
SETTLEMENT DATE: 15-Mar-02
A SERIES INFORMATION
Advanta Leasing Receivables Corp. VIII and
ADVANTA LEASING RECEIVABLES CORP. IX
EQUIPMENT RECEIVABLES ASSET-BACKED NOTES,
SERIES 1999-1
I SERIES INFORMATION INCLUDING PLEDGED PROPERTY CONVEYED
(a.) Beginning Aggregate Contract Principal Balance ...................................................$ 9,973,044.81
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(b.) Contract Principal Balance of all Collections
allocable to Contracts ...........................................................................$ 887,804.80
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(c.) Contract Principal Balance of Charged-Off Contracts ..............................................$ 18,996.43
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(e.) Ending Aggregate Contract Principal Balance of all
Contracts as of this Settlement Date .............................................................$ 9,066,243.58
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BALANCES ON THIS SETTLEMENT DATE
(d.) Class A Principal Balance as of this
Settlement Date (Class A Note Factor) 0.0707432 $ 6,994,816.38
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(e1.) Ending Class A-1 Principal Balance 0.0000000 $ --
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(e2.) Ending Class A-2 Principal Balance 0.0000000 $ --
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(e3.) Ending Class A-3 Principal Balance 0.7405285 $ 6,994,816.38
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(f.) Ending Class B Principal Balance as of this
Settlement Date (Class B Note Factor) 0.1785714 $ 2,071,427.21
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II COMPLIANCE RATIOS
(a.) Aggregate Contract Balance Remaining ("CBR") of all Contracts ....................................$ 9,674,852.27
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(b.) CBR of Contracts 1 - 30 days delinquent ..........................................................$ 724,254.70
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(c.) % of Delinquent Contracts 1- 30 days as of the related Calculation Date ......................... 7.49%
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(d.) CBR of Contracts 31 - 60 days delinquent .........................................................$ 477,529.54
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(e.) % of Delinquent Contracts 31- 60 days as of the related Calculation Date ........................ 4.94%
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(f.) CBR of Contracts 61 - 90 days delinquent .........................................................$ 217,091.25
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(g.) % of Delinquent Contracts 61- 90 days as of the related Calculation Date ........................ 2.24%
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(h.) CBR of Contracts > 91 days delinquent ............................................................$ 182,574.60
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(i.) % of Delinquent Contracts > 91 days as of the related Calculation Date .......................... 1.89%
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(j1.) % of Delinquent Contracts 31 days or more as of the related Calculation Date ..................... 9.07%
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(j2.) Month 2: Jan-02 ........................................................... 7.77%
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(j3.) Month 3: Dec-01 ........................................................... 9.49%
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(j4.) Three month rolling average % of Delinquent Contracts 31 days or more ............................ 8.78%
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(k1.) Net Charge-Off % for the related Collection Period (annualized 30/360) * ......................... 0.00%
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(k2.) Month 2: Jan-02 ........................................................... 2.12%
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(k3.) Month 3: Dec-01 ........................................................... 7.99%
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(k4.) Three month rolling average % for Defaulted Contracts ............................................ 3.37%
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*Note: Current Month Net Charge-off % is negative 3 604% reported as zero (February, 2002)
Does the Cumulative Loss % exceed
(l1.) The Loss Trigger Level % from Beginning Period to and including 12th Collection Period ?
Y or N .......................................................................................... n/a
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(l2.) The Loss Trigger Level % from 13th Collection Period to and including 24th Collection Period ?
Y or N .......................................................................................... n/a
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(l3.) The Loss Trigger Level % from 25th Collection Period and thereafter ? Y or N .................. NO
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(m1.) Residual Realization for the related Collection Period ........................................... 131.92%
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(m2.) Month 2: Jan-02 ........................................................... 132.89%
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(m3.) Month 3: Dec-01 ........................................................... 138.21%
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(m4.) Three month rolling average Residual Realization Ratio ........................................... 134.34%
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(n.) Does the three month rolling Residual Realization ratio exceed 100% Y or N .................. YES
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III FLOW OF FUNDS
(1.) The amount on deposit in Available Funds .........................................................$ 1,301,829.30
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(2.) The prepayment amounts deposited, if any, by the Issuers' to the Collection Account
for removal of defaulted contracts ............................................................. --
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(3.) Total deposits in the Collection Account to be used as available funds on this Payment Date ......$ 1,301,829.30
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(a.) To the Servicer, Unrecoverable Servicer Advances / Initial Unpaid Balance ........................$ --
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(b.) To the Servicer, the Servicing Fee and miscellaneous amounts, if any .............................$ 8,310.87
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To Series 1999-1 Noteholders:
(c.) To Class A, the total Class A Note Interest and Class A Overdue Interest for the related period ..$ 45,434.30
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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 ...................$ 45,434.30
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(d.) Interest on Class B Notes for the related period .............................. $ 12,549.40
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(e.) To Series 1999-1Noteholders:
To Class A, the total applicable Principal Payment ............................ $ 906,801.23
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Principal Payment to Class A-1 Noteholders ....$ --
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Principal Payment to Class A-2 Noteholders ....$ --
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Principal Payment to Class A-3 Noteholders ....$ 906,801.23
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To Class B for applicable Principal Payment to the extent of the Class B Floor ...................$ --
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(f.) To the Reserve Account :
The amount needed to increase the amount in the Reserve Account to the Required Reserve ..........$ --
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(g.) Upon the occurrence of a Residual Event the lesser of:
(A) the remaining Available Funds and ....................................$ --
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(B) the aggregate amount of Residual Receipts included in Available Funds $ --
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To be deposited to the Residual Account ..........................................................$ --
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(h.) To the Issuers, as owner of the Pledged Assets, any remaining Available Funds on deposit in the
Collection Account (the "Issuers' Interest") .....................................................$ 328,733.50
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IV SERVICER ADVANCES
(a.) Aggregate amount of Servicer Advances at the beginning of the Collection Period ..................$ 288,719.81
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(b.) Servicer Advances reimbursed during the Collection Period ........................................$ 16,364.61
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(c.) Amount of unreimbursed Service Advances to be reimbursed on the
Settlement Date ..................................................................................$ --
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(d.) Servicer Advances made during the related Collection Period ......................................$ 28,212.28
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(e.) Aggregate amount of Servicer Advances at the end of the Collection
Period ...........................................................................................$ 300,567.48
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(f.) Amount of delinquent Scheduled Payments for which Servicer Advances
were not made ....................................................................................$ --
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V RESERVE ACCOUNT
(a.) Amount on deposit at the beginning of the related Collection Period ..............................$ 1,104,761.18
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(b.) Amount of interest earnings reinvested for the related Monthly Period ............................$ 1,511.52
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(c.) Amounts used to cover shortfalls, if any, for the related Collection Period .....................$ --
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(d.) Amounts transferred from the Collection Account, if applicable ...................................$ --
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(e.) Balance remaining before calculating Required Reserve Amount .....................................$ 1,106,272.70
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(f.) Required Reserve Amount needed as of the related Collection Period ...............................$ 1,104,761.18
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(g1.) If (e) above is greater than (f), then excess amount to be transferred to the Series Obligors ....$ 1,511.52
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(g2.) If (e) is greater than (d), then amount of shortfall .............................................
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(h.) Amounts on deposit at the end of the related Collection Period (e minus g1) ......................$ 1,104,761.18
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(i.) Is the Required Reserve Amount equal to the balance in the Reserve Account
as of the related Collection period ? Y or N ..................................................... YES
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VI RESIDUAL ACCOUNT
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(a.) Amount on deposit at the beginning of the related Collection Period ..............................$ --
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(b.) Amounts transferred from the Collection Account ..................................................$ --
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(c.) Amounts used to cover shortfalls for the related Collection Period ...............................$ --
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(d.) Amount on deposit at the end of the related Collection Period ....................................$ --
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VII ADVANCE PAYMENTS
(a.) Beginning aggregate Advance Payments............................................................... 165,778.71
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(b.) Add: Amount of Advance Payments collected during the related Collection Period ..................$ 122,477.97
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(c.) Add: Investment earnings for the related Collection Period .....................................$ --
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(d.) Less: Amount of Advance Payments withdrawn for deposit into Facility Account .....................$ 129,225.94
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(e.) Ending aggregate Advance Payments ................................................................$ 159,030.74
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ADVANTA BUSINESS SERVICES CORP., AS SERVICER
BY: /s/ Mark Shapiro
TITLE: Asst Treasurer
DATE: 03/12/02
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