PAGE 1
EX-7.1
CERTIFICATEHOLDERS' DISTRIBUTION DATE STATEMENT
FOR THE SEPTEMBER 25, 1998 DISTRIBUTION DATE
CSXT Trade Receivables Master Trust
5.05% Trade Receivables Participation Certificates,
Series 1993-1
PAGE 2
CSXT TRADE RECEIVABLES MASTER TRUST
-----------------------------------
Monthly Distribution Date Statement
Series 1993-1
CSX Transportation, Inc. (Servicer)
ORIGINAL SERIES 1993-1 PARAMETERS
- ---------------------------------
Initial Pool Balance 542,490,000
Initial Invested Amount 200,000,000
Required Net Series Pool Balance 239,993,384
Original Investor Allocation Percentage 44.24%
Certificate Rate 5.05%
Servicing Fee (Per Annum) 0.25%
Original Required Available Subordinated Amount 36,658,384
Purchaser Adjusted Invested Amount (PAIA) 130,000,000
================================================================================
MONTHLY ACTIVITY
- ----------------
Total Pool Collections 0
Total New Receivables Sold To Trust (New Invoices) 0
Dilutions 0
Defaulted Receivables (91 days +) 0
Total Pool Recoveries 0
Investment Proceeds for Due Period 0
Interline Payables 0
Overconcentration Amount 0
Receivables Not Eligible 0
Miscellaneous Payments (Adjustment Payments + 0
Transfer Deposit Amounts) 0
Monitored Receivables 0
Additions to Monitored Receivables 0
Collections of Monitored Receivables 0
Total Charged-Off Receivables 0
Purchaser Adjusted Invested Amount 0
Reassigned Receivables 0
================================================================================
MONTHLY PAYMENT RATE, YIELD RESERVE AND FEE RESERVE CALCULATION
- ---------------------------------------------------------------
Series 1993-1 Certificate Rate 5.05%
Servicing Fee 0.00%
Average Days Sales Outstanding 0.0
Monthly Payment Rate 0.00%
Yield Reserve 0
Fee Reserve 0
PAGE 3
INPUTS FROM PREVIOUS SERVICER REPORT
- ------------------------------------
Ending Pool Balance 0
Interline Payables 0
Outstanding Balance 0
Ending Net Receivables Pool Balance 0
Ending Series 1993-1 Invested Amount 0
Ending Series 1993-1 Available Subordinated Amount 0
Ending Deferred Monthly Servicing Fee 0
Ending Interest Shortfall + Additional Interest 0
Unallocated Collections 0
Principal Funding Account Balance 0
Ending Purchaser Adjusted Invested Amount (PAIA) 0
Ending Series Adjusted Invested Amount 0
Yield Reserve 0
Fee Reserve 0
Accumulation Period (Y = 1; N = 2) 1
Early Amortization Period (Y = 1; N = 2) 2
================================================================================
DELINQUENCY DATA (As of 8/31/98)
- ---------------------------------
% Dollar Amount
------------------------------
1-30 Days From Invoice 0.00% 0
31-60 Days From Invoice 0.00% 0
61-90 Days From Invoice 0.00% 0
91-120 Days From Invoice 0.00% 0
121-150 Days From Invoice 0.00% 0
151-180 Days From Invoice 0.00% 0
181-210 Days From Invoice 0.00% 0
211-240 Days From Invoice 0.00% 0
Greater Than 240 Days From Invoice 0.00% 0
Total 0.00% 0
------------------------------
================================================================================
CERTIFICATE REPORTING DATES
- ---------------------------
Determination Date 17-Sep-98
Distribution Date 25-Sep-98
Due Period Aug-98
Series 1993-1 Period Number 59
Last Day of Preceding Due Period 31-Aug-98
PAGE 4
ALLOCATION PERCENTAGES
- ----------------------
Beginning Invested Amount 0
Series Adjusted Invested Amount (SAIA) 0
Purchaser Adjusted Invested Amount (PAIA) 0
Trust Adjusted Invested Amount (TAIA) 0
Series Allocation Percentage (SAIA / TAIA) 0.00%
Investor Allocation Percentage 0.00%
Investor Ownership Percentage 0.00%
Seller Ownership Percentage 0.00%
================================================================================
COLLECTIONS
- -----------
Total Pool Collections 0
Pool Recoveries 0
Total Available Collections 0
Series Allocable Collections
(SAP * Total Available Collections) 0
Series Allocable Miscellaneous Payments 0
Available Investor Collections 0
Monthly Interest Due 0
Monthly Interest Paid 0
Remaining Available Collections 0
Beginning Interest Shortfall + Additional Interest Due 0
Beginning Interest Shortfall + Additional Interest Paid 0
Remaining Available Collections 0
Ending Unpaid Interest Shortfall 0
Certificateholders' Monthly Servicing Fee 0
Withdrawal 0
Remaining Available Collections 0
Beginning Deferred Monthly Servicing Fee 0
Withdrawal 0
Remaining Available Collections ("Monthly Principal") 0
Ending Deferred Monthly Servicing Fee 0
Charged-Off Amount 0
Investor Allocable Charged-Off Amount 0
Withdrawal 0
Remaining Available Collections 0
Investor Charge-Off Shortfall 0
Deficiency Amount 0
Available Subordination Draw Amount 0
Remaining Investor Charge-Off Shortfall 0
PAGE 5
POOL BALANCE
- ------------
Beginning Pool Balance 0
Collections 0
New Receivables 0
Dilutions 0
Charged-Off Receivables 0
Ending Pool Balance 0
Interline Payables 0
Ending Outstanding Balance 0
Ending Net Receivables Pool Balance 0
Ending Net Series Pool Balance 0
================================================================================
REQUIRED NET SERIES POOL BALANCE
- --------------------------------
Subordination Percentage (Current Due Period) 0.00%
Beginning Available Subordinated Amount 0
Required Subordination Draw Amount 0
Invested Amount 0
Ending Available Subordinated Amount 0
Yield Reserve 0
Fee Reserve 0
Initial Invested Amount - Invested Amount 0
Required Net Series Pool Balance 0
================================================================================
REQUIRED NET SERIES POOL BALANCE
- --------------------------------
Ending Invested Amount 0
Ending Series Adjusted Invested Amount (SAIA) 0
Ending Purchaser Adjusted Invested Amount (PAIA) 0
Ending Trust Adjusted Invested Amount (TAIA) 0
Ending Series Allocation Percentage (SAIA / TAIA) 0.00%
Ending Investor Allocation Percentage 0.00%
Ending Investor Ownership Percentage 0.00%
Ending Seller Ownership Percentage 0.00%
================================================================================
CURRENT DUE PERIOD DILUTION AND MONITORED RECEIVABLES PERCENTAGES
- -----------------------------------------------------------------
A.Dilution Percentage 0.00%
B.Monitored Receivables (As a Percentage of Pool Balance)
Additions to Monitored Receivables 0.00%
Collections of Monitored Receivables 0.00%
-----
Net Additions/Reductions to Monitored Receivables 0.00%
PAGE 6
INVESTOR CHARGE-OFF AND REIMBURSEMENT ACTIVITY
- ----------------------------------------------
Beginning Investor Charge-Offs 0
Beginning Investor Charge-Offs per $1,000 Certificate 0.00
Additional Investor Charge-Offs 0
Additional Investor Charge-Offs per $1,000 Certificate 0.00
Reimbursements:
Reinstatement of Investor Certificates 0
Reinstatement of Investor Certificates per
$1,000 Certificate 0.00
Ending Investor Charge-Offs 0
Ending Investor Charge-Offs per $1,000 Certificate 0.00
================================================================================
AMORTIZATION EVENTS
- -------------------
(Yes = 1; No = 2) Y/N
---
1.Breach of material covenant or agreement pursuant to
the Pooling and Servicing Agreement uncured for 30 days 2
2.Breach of representation or warranty not corrected for
30 days 2
3.Bankruptcy, insolvency or receivership of Seller or CSXT 2
4.Trust is deemed an "Investment Company" 2
5.CSXT fails to convey Receivables to Seller and Servicer
fails to make deposit to Retained Collection Account 2
6.Required Net Series Pool Balance exceeds Net Series Pool
Balance 2
7.Any Series 1993-1 Servicer Default 2
8.Termination Notice delivered to Servicer 2
9.Invested Amount of Series not paid in full on Expected
Final Payment Date 2
10.Average Monthly Payment Rate for the three preceding Due
Periods is less than 25% 2
================================================================================
AGGREGATE INVESTOR ALLOCABLE CHARGED-OFF AMOUNT
- -----------------------------------------------
Investor Allocable Charged-Off Amount 0
Investor Recoveries 0
Aggregate Investor Allocable Charged-Off Amount 0
Aggregate Investor Allocable Charged-Off Amount as a
Percentage of Ending Series Invested Amount 0.00%
Loss Reserve 0
PAGE 7
SUBORDINATION PERCENTAGE (CURRENT DUE PERIOD)
- ---------------------------------------------
Calculation of Subordination Percentage
A. Subordination Percentage Floor 0.00%
B. I. Dilutions
(a) Dilution Ratio -Greatest 2-month rolling average
for prior 12 due periods 0.00%
(b) Dilution Percentage- (5 * B.I.(a)) 0.00%
II. Delinquencies
(a) Delinquency Ratio - Greatest 3-month rolling
average for prior 12 Due Periods 0.00%
(b) Delinquency Percentage (7.5 * B.II.(a)) 0.00%
III. Monitored Receivables
(a) Monitored Receivables Ratio - Greatest 3-month
rolling average for prior 12 Due Periods 0.00%
(b) Monitored Receivables Percentage
(7.5 * B.III.(a)) 0.00%
IV. Loss Percentage (B.II. + B.III.) 0.00%
V. Sum of Dilution and Loss Percentages (B.I. + B.IV.) 0.00%
C. I. Alternate Dilutions
(a) Dilution Ratio - Greatest 2-month rolling
average for prior 12 Due Periods 0.00%
(b) Alternate Dilution Percentage (4 * C.I.(a)) 0.00%
II. Alternate Delinquencies
(a) Alternate Delinquency Percentage 0.00%
III. Alternate Monitored Receivables
(a) Alternate Monitored Receivables Percentage 0.00%
IV. Alternate Loss Percentage (C.II. + C. III.) 0.00%
V. Sum of Alternate Dilution and Alternate Loss
Percentages 0.00%
D. Subordination Percentage (Greatest of A.,
B.V., or C.V.) 0.00%
PAGE 8
POOL FACTOR
- -----------
Beginning Invested Amount 0
Ending Invested Amount 0
Pool Factor 0.0000000
================================================================================
ALLOCATION OF COLLECTIONS TO PRINCIPAL
- --------------------------------------
Total Collections 0
Available Investor Collections 0
Monthly Principal 0
Available Principal Collections 0
I.Revolving Period:
Unallocated Collections 0
Amounts Paid to Seller (Seller's Interest) 0
II.Accumulation Period / Early Amortization Period:
Controlled Accumulation Amount 0
Controlled Deposit Amount 0
Monthly Principal Deposited into Principal Funding
Account 0
Excess Collections 0
Excess Collections Paid To Seller 0
Beginning Principal Funding Account Balance 200,000,000
Deposits to Principal Funding Account 0
Distribution to Certificate Holders 200,000,000
Ending Principal Funding Account Balance 0
================================================================================
DISTRIBUTION TO CERTIFICATEHOLDERS
- ----------------------------------
Total Amount Distributed 200,841,666.67
Total Amount Allocable to Interest 841,666.67
Total Amount Allocable to Interest per
$1,000 of Certificates 4.21
Total Amount Allocable to Principal 200,000,000.00
Total Amount Allocable to Principal per
$1,000 of Certificates 1,000.00
Pool Factor 0.0000000
PAGE 9
SERIES 1993-1 INVESTED AMOUNT
- -----------------------------
Beginning Invested Amount 0
Additional Investor Charge-Offs 0
Reimbursement of Investor Charge-Offs 0
Unallocated Collections 0
Invested Amount Before Principal Amortization 0
Principal on Deposit in Principal Funding Account 0
Ending Invested Amount 0
Amount to be deposited with Trustee in respect of
Monthly Interest due on next Distribution Date 0
NOTE
On May 31, 1998, the Revolving Period for Series 1993-1 ended and the
Accumulation Period began. As of June 17, 1998, in conjunction with the issuance
of a new series of certificates, $200 million has been deposited into the Series
1993-1 Principal Funding account to provide for redemption of the certificates
on the expected final payment date of September 25, 1998. Sufficient amounts
have also been deposited in the Interest Funding account to provide for monthly
interest payments to Series 1993-1 certificateholders through the final payment
date.
This is the final monthly servicer report to be filed for the Series 1993-1
Certificates.
================================================================================
I hereby certify that this Monthly Servicer Report has been prepared in
accordance with the Pooling and Servicing Agreement dated as of December 18,
1992, as amended and supplemented, and is correct to the the best of my
knowledge.
/s/ JAMES FEESER
----------------
James Feeser
Assistant Controller
PAGE 10
CSXT TRADE RECEIVABLES MASTER TRUST
-----------------------------------
Certificateholders' Distribution Date Statement
Series 1993-1
CSX Transportation, Inc. (Servicer)
Pursuant to Section 5.02(a) of the Series 1993-1 Supplement dated as of
October 28, 1993, as to Pooling and Servicing Agreement dated as of December 18,
1992, as amended and supplemented (the '"Pooling and Servicing Agreement"), by
and between CSX Trade Receivables Corporation, as Seller (the "Seller"), CSX
Transportation, Inc., as Servicer (the "Servicer" or "CSXT") and Chemical Bank,
Trustee (the "Trustee"), the Servicer is required to prepare and report certain
information each month regarding distributions to Certificateholers and the
performance of the CSXT Trade Receivables Master Trust (the "Trust") during the
preceding Due Period. Certain of the information is presented on the basis of an
original principal amount of $1,000 per Investor Certificate. Certain other
information is presented on an aggregate basis. Capitalized terms used but not
otherwise defined herein have their respective meanings as set forth in the
Pooling and Servicing Agreement.
Distribution Date: September 25, 1998
Due Period: August 1, 1998 thru August 31, 1998
POOL COLLECTIONS
- ----------------
Aggregate amount of Collections 0.00
Pool Balance as of the last day of the
preceding Due Period 0.00
ALLOCATION PERCENTAGES
- ----------------------
Series 1993-1 Allocation Percentage 0.00%
Investor Allocation Percentage 0.00%
Investor Ownership Percentage 0.00%
DISTRIBUTION TO CERTIFICATEHOLDERS
- ----------------------------------
Total amount distributed to Certificateholders 200,841,666.67
Total amount distributed to Certificateholders
allocable to Interest 841,666.67
Total amount distributed allocable to Interest
per $1,000 of Certificates 4.21
Total amount distributed to Certificateholders
allocable to Principal 200,000,000.00
Total amount distributed allocable to Principal
per $1,000 of Certificates 1,000.00
Pool Factor 0.0000000
PAGE 11
CERTIFICATE INVESTED AMOUNTS
- ----------------------------
Series 1993-1 Invested Amount 0
Amounts on deposit in the Principal Funding Account 0.00
Outstanding balance of the Series 1993-1 Certificates
(after giving effect to all distributions to occur
on the Distribution Date). 0.00
INVESTOR ALLOCABLE CHARGED-OFF AMOUNT
- -------------------------------------
Investor Allocable Charged-Off Amount for the Due
Period 0
SUBORDINATION PERCENTAGE
- ------------------------
Subordination Percentage for the Current Due Period 0.00%
Ending Available Subordinated Amount 0
INVESTOR CHARGE-OFF AND REIMBURSEMENT ACTIVITY
- ----------------------------------------------
Beginning Investor Charge-Offs 0.00
Beginning Investor Charge-Offs per $1,000 Certificate 0.00
Additional Investor Charge-Offs 0.00
Additional Investor Charge-Offs per $1,000 Certificate 0.00
Reimbursements:
Reinstatement of Investor Certificates 0.00
Reinstatement of Investor Certificates per $1,000
Certificate 0.00
Ending Investor Charge-Offs 0.00
Ending Investor Charge-Offs per $1,000 Certificate 0.00
POOL BALANCES
- -------------
Pool Balance as of the last day of the preceding Due Period 0
Ending Net Receivables Pool Balance 0
Ending Net Series Pool Balance 0
NOTE
On May 31, 1998, the Revolving Period for Series 1993-1 ended and the
Accumulation Period began. As of June 17, 1998, in conjunction with the issuance
of a new series of certificates, $200 million has been deposited into the Series
1993-1 Principal Funding account to provide for redemption of the certificates
on the expected final payment date of September 25, 1998. Sufficient amounts
have also been deposited in the Interest Funding account to provide for monthly
interest payments to Series 1993-1 certificateholders through the final payment
date.
This is the final monthly servicer report to be filed for the Series 1993-1
Certificates.