WORLD OMNI 1999-A AUTOMOBILE LEASE SECURITIZATION TRUST
ANNUAL SERVICER CERTIFICATE
FOR THE PERIOD April 1, 1999 THROUGH November 30, 1999
Aggregate
Net Investment
Aggregate Net Investment Value Value
Original
4/1/99 1,160,510,742.00
Principal collections & reimbursement loss amount 15,605,514.22
11/30/99 1,144,905,227.78
Note Balance @ 11/30/99 1,160,510,742.00
Class A-1
Allocation Note
Aggregate Net Investment Value Percentage Balance
Original 29.09029% 330,000,000
4/1/99 29.09029% 330,000,000
Principal collections & reimbursement loss amount 15,262,666
11/30/99 314,737,334
Note Balance @ 11/30/99 29.09029% 330,000,000
Class A-2
Allocation Note
Aggregate Net Investment Value Percentage Balance
Original 27.32725% 310,000,000
4/1/99 27.32725% 310,000,000
Principal collections & reimbursement loss amount 0
11/30/99 310,000,000
Note Balance @ 11/30/99 27.32725% 310,000,000
Class A-3
Allocation Note
Aggregate Net Investment Value Percentage Balance
Original 21.94995% 249,000,000
4/1/99 21.94995% 249,000,000
Principal collections & reimbursement loss amount 0
11/30/99 249,000,000
Note Balance @ 11/30/99 21.94995% 249,000,000
Class A-4
Percentage Note
Aggregate Net Investment Value Percentage Balance
Original 16.26165% 184,472,000
4/1/99 16.26165% 184,472,000
Principal collections & reimbursement loss amount 0
11/30/99 184,472,000
Note Balance @ 11/30/99 16.26165% 184,472,000
Class B
Allocation Note
Aggregate Net Investment Value Percentage Balance
Original 5.37086% 60,927,000
4/1/99 5.37086% 60,927,000
Principal collections & reimbursement loss amount 0
11/30/99 60,927,000
Note Balance @ 11/30/99 5.37086% 60,927,000
Aggregate Net Investment Value Transferor Interest Balance
Original 2.25000% 26,111,742
4/1/99 26,111,742
Principal collections & reimbursement loss amount 342,848
11/30/99 25,768,894
Note Balance @ 11/30/99 2.25000% 26,111,742
Distributable Amounts Total
Interest Distributable Amount 20,374,873.12
Principal Distributable Amount (1) 108,560,849.36
Reimbursement of Covered Loss Amount (1) 1,768,496.31
Reimbursement of Uncovered Loss Amount (1) 0.00
Class A Cap Receipt 0
Class B Cap Receipt 0
Total 130,704,218.79
Distributable Amounts Class A-1 %
Interest Distributable Amount 5,438,194.39
Principal Distributable Amount (1) 106,118,230.24 97.75000%
Reimbursement of Covered Loss Amount (1) 1,768,496.31 100.00000%
Reimbursement of Uncovered Loss Amount (1) 0.00 100.00000%
Class A Cap Receipt
Class B Cap Receipt
Total 113,324,920.94
Distributable Amounts Class A-2 %
Interest Distributable Amount 5,153,815.19
Principal Distributable Amount (1) 0.00 0.00000%
Reimbursement of Covered Loss Amount (1) 0.00 0.00000%
Reimbursement of Uncovered Loss Amount (1) 0.00 0.00000%
Class A Cap Receipt
Class B Cap Receipt
Total 5,153,815.19
Distributable Amounts Class A-3 %
Interest Distributable Amount 4,154,202.36
Principal Distributable Amount (1) 0.00 0.00000%
Reimbursement of Covered Loss Amount (1) 0.00 0.00000%
Reimbursement of Uncovered Loss Amount (1) 0.00 0.00000%
Class A Cap Receipt
Class B Cap Receipt
Total 4,154,202.36
Distributable Amounts Class A-4 %
Interest Distributable Amount 3,093,787.96
Principal Distributable Amount (1) 0.00 0.00000%
Reimbursement of Covered Loss Amount (1) 0.00 0.00000%
Reimbursement of Uncovered Loss Amount (1) 0.00 0.00000%
Class A Cap Receipt
Class B Cap Receipt
Total 3,093,787.96
Distributable Amounts Class B %
Interest Distributable Amount 1,084,005.69
Principal Distributable Amount (1) 0.00 0.00000%
Reimbursement of Covered Loss Amount (1) 0.00 0.00000%
Reimbursement of Uncovered Loss Amount (1) 0.00 0.00000%
Class A Cap Receipt
Class B Cap Receipt
Total 1,084,005.69
Distributable Amounts Transferor Interest %
Interest Distributable Amount 1,450,867.54
Principal Distributable Amount (1) 2,442,619.12 2.25000%
Reimbursement of Covered Loss Amount (1) 0.00 0.00000%
Reimbursement of Uncovered Loss Amount (1) 0.00 0.00000%
Class A Cap Receipt
Class B Cap Receipt
Total 3,893,486.66
(1) These amounts will not be distributed during the Revolving period. They will
be reinvested in additional contracts.
Note Factors Series A-1 Series A-2
4/1/99 100.0000000% 100.0000000%
11/30/99 100.0000000% 100.0000000%
Note Factors Series A-3 Series A-4
4/1/99 100.0000000% 100.0000000%
11/30/99 100.0000000% 100.0000000%
Note Factors Series B
4/1/99 100.0000000%
11/30/99 100.0000000%
Pool Data 4/1/99 $
Number of Loans 49,883
Prepayments 0 0.00
Scheduled Terminations 0 0.00
Charge-Offs 0 0.00
Weighted Ave APR 9.76%
Pool Data 11/30/99 $
Number of Loans 52,120
Prepayments 1,246 29,307,992.77
Scheduled Terminations 7 116,812.10
Charge-Offs 283 6,124,594.11
Weighted Ave APR 9.76%
Account Balances Pay Ahead Advance Reserve Fund
Balance as of 4/01/99 0.00 0.00 11,605,107.42
Balance as of 11/30/99 2,130,392.39 214,669.76 11,605,107.42
Change 2,130,392.39 214,669.76 0.00
Required Cash (withdrawal from reserve) 0.00
Reserve Fund Requirement 11,605,107.42
Reserve Fund Supplemental Requirements 0.00
Insured Residual Value Loss Amount 0.00
Distribution per $1,000 Total
Total Distribution Amount 17.55681562
Interest Distribution Amount 17.55681562
Carryover Shortfall 0.00000000
Prior Carryover Shortfall 0.00000000
Total Carryover Shortfall 0.00000000
Principal Distribution Amount 0.00000000
Principal Loss Amounts
Reimbursed Principal Loss Amount 0.00000000
Aggregate Unreimbursed Principal Loss Amount 0.00000000
Principal Loss Interest Amount
Reimbursed Principal Loss Interest Amount 0.00000000
Unpaid Principal Loss Interest Amount 0.00000000
Transferor Principal not paid to Transferor -----
Transferor Interest not paid to Transferor -----
Unpaid Class B Principal Carryover Shortfall -----
Distribution per $1,000 Class A-1
Total Distribution Amount 16.47937694
Interest Distribution Amount 16.47937694
Carryover Shortfall 0.00000000
Prior Carryover Shortfall 0.00000000
Total Carryover Shortfall 0.00000000
Principal Distribution Amount 0.00000000
Principal Loss Amounts
Reimbursed Principal Loss Amount 0.00000000
Aggregate Unreimbursed Principal Loss Amount 0.00000000
Principal Loss Interest Amount
Reimbursed Principal Loss Interest Amount 0.00000000
Unpaid Principal Loss Interest Amount 0.00000000
Transferor Principal not paid to Transferor -----
Transferor Interest not paid to Transferor -----
Unpaid Class B Principal Carryover Shortfall -----
Distribution per $1,000 Class A-2
Total Distribution Amount 16.62521029
Interest Distribution Amount 16.62521029
Carryover Shortfall 0.00000000
Prior Carryover Shortfall 0.00000000
Total Carryover Shortfall 0.00000000
Principal Distribution Amount 0.00000000
Principal Loss Amounts
Reimbursed Principal Loss Amount 0.00000000
Aggregate Unreimbursed Principal Loss Amount 0.00000000
Principal Loss Interest Amount
Reimbursed Principal Loss Interest Amount 0.00000000
Unpaid Principal Loss Interest Amount 0.00000000
Transferor Principal not paid to Transferor -----
Transferor Interest not paid to Transferor -----
Unpaid Class B Principal Carryover Shortfall -----
Distribution per $1,000 Class A-3
Total Distribution Amount 16.68354361
Interest Distribution Amount 16.68354361
Carryover Shortfall 0.00000000
Prior Carryover Shortfall 0.00000000
Total Carryover Shortfall 0.00000000
Principal Distribution Amount 0.00000000
Principal Loss Amounts
Reimbursed Principal Loss Amount 0.00000000
Aggregate Unreimbursed Principal Loss Amount 0.00000000
Principal Loss Interest Amount
Reimbursed Principal Loss Interest Amount 0.00000000
Unpaid Principal Loss Interest Amount 0.00000000
Transferor Principal not paid to Transferor -----
Transferor Interest not paid to Transferor -----
Unpaid Class B Principal Carryover Shortfall -----
Distribution per $1,000 Class A-4
Total Distribution Amount 16.77104363
Interest Distribution Amount 16.77104363
Carryover Shortfall 0.00000000
Prior Carryover Shortfall 0.00000000
Total Carryover Shortfall 0.00000000
Principal Distribution Amount 0.00000000
Principal Loss Amounts
Reimbursed Principal Loss Amount 0.00000000
Aggregate Unreimbursed Principal Loss Amount 0.00000000
Principal Loss Interest Amount
Reimbursed Principal Loss Interest Amount 0.00000000
Unpaid Principal Loss Interest Amount 0.00000000
Transferor Principal not paid to Transferor -----
Transferor Interest not paid to Transferor -----
Unpaid Class B Principal Carryover Shortfall -----
Distribution per $1,000 Class B
Total Distribution Amount 17.79187700
Interest Distribution Amount 17.79187700
Carryover Shortfall 0.00000000
Prior Carryover Shortfall 0.00000000
Total Carryover Shortfall 0.00000000
Principal Distribution Amount 0.00000000
Principal Loss Amounts
Reimbursed Principal Loss Amount 0.00000000
Aggregate Unreimbursed Principal Loss Amount 0.00000000
Principal Loss Interest Amount
Reimbursed Principal Loss Interest Amount 0.00000000
Unpaid Principal Loss Interest Amount 0.00000000
Transferor Principal not paid to Transferor -----
Transferor Interest not paid to Transferor -----
Unpaid Class B Principal Carryover Shortfall 0.00000000
Distribution per $1,000 Transferor Interest
Total Distribution Amount 55.56379731
Interest Distribution Amount 55.56379731
Carryover Shortfall -----
Prior Carryover Shortfall -----
Total Carryover Shortfall -----
Principal Distribution Amount 0.00000000
Principal Loss Amounts
Reimbursed Principal Loss Amount 0.00000000
Aggregate Unreimbursed Principal Loss Amount -----
Principal Loss Interest Amount
Reimbursed Principal Loss Interest Amount -----
Unpaid Principal Loss Interest Amount -----
Transferor Principal not paid to Transferor 0.00000000
Transferor Interest not paid to Transferor 0.00000000
Unpaid Class B Principal Carryover Shortfall -----
Servicing Fee Total
Amount of Servicing Fee Paid 7,736,738.30
Total Unpaid 0.00
Origination Trustee Expenses Paid (1)
UTI 0.00
SUBI 0.00
0.00
Securitization Trustee Expenses Paid (1) 0.00
Additional Loss Amounts (2) 0.00
(1) Expenses greater than $50,000 are broken out as follows:
(2) Broken out as follows:
CHARGE-OFF RATE August September
Outstanding 1,021,400.90 701,662.24
Balance
Net
Liquidation 639,656.98 445,373.24
Proceeds
Average
Aggregate
Net Investment 1,160,510,742.00 1,160,510,742.00
Value
Annualized
Average
Charge-Off 0.39% 0.27%
Rate
CHARGE-OFF RATE October November
Outstanding 1,045,574.10 1,105,817.99
Balance
Net
Liquidation 714,744.73 746,496.47
Proceeds
Average
Aggregate
Net Investment 1,160,510,742.00 1,160,510,742.00
Value
Annualized
Average
Charge-Off 0.34% 0.37%
Rate
(Charge-off Rate Test will be satisfied if the annualized ratio is 2.75% or less) 0.35%
DELINQUENCY RATE As of November 30, 1999
# $
Past Due 31-60 days 463 9,874,164
Past Due 61-90 days 60 1,294,362
Past Due 91 + days 16 368,473
Total 539 11,536,999
(Delinquency Rate Test will be satisfied if the ratio is 1.75% or less)
Delinquent Current Delinquency
Contracts Contracts Rate
(> 60 days)
August 66 49,013 0.13%
September 78 51,328 0.15%
October 74 51,687 0.14%
November 76 52,120 0.15%
0.15%