Exhibit 99.1

NISSAN AUTO LEASE TRUST 2021-A

Servicer’s Report

 

Collection Period Start    1-Dec-22    Distribution Date   

17-Jan-23

Collection Period End    31-Dec-22    30/360 Days   

30

Beg. of Interest Period    15-Dec-22    Actual/360 Days   

33

End of Interest Period    17-Jan-23      

 

SUMMARY              
     Coupon Rate     Initial Balance      Beginning Balance      Ending Balance      Pool Factor  

Total Portfolio

       1,197,605,445.04        784,661,821.30        734,497,151.17        0.6133048  

Total Securities

       1,197,605,445.04        784,661,821.30        734,497,151.17        0.6133048  

Class A-1 Notes

     0.150000     123,000,000.00        0.00        0.00        0.0000000  

Class A-2a Notes

     0.300000     396,000,000.00        106,056,376.26        55,891,706.13        0.1411407  

Class A-2b Notes

     0.000000     0.00        0.00        0.00        0.0000000  

Class A-3 Notes

     0.520000     396,000,000.00        396,000,000.00        396,000,000.00        1.0000000  

Class A-4 Notes

     0.650000     85,000,000.00        85,000,000.00        85,000,000.00        1.0000000  

Certificates

     0.000000     197,605,445.04        197,605,445.04        197,605,445.04        1.0000000  
     Principal Payment Due     Interest Payment      Principal per $1000 Face Amount      Interest per $1000
Face Amount
        

Class A-1 Notes

     0.00       0.00        0.0000000        0.0000000     

Class A-2a Notes

     50,164,670.13       26,514.09        126.6784599        0.0669548     

Class A-2b Notes

     0.00       0.00        0.0000000        0.0000000     

Class A-3 Notes

     0.00       171,600.00        0.0000000        0.4333333     

Class A-4 Notes

     0.00       46,041.67        0.0000000        0.5416667     

Certificates

     0.00       0.00        0.0000000        0.0000000     

Total Securities

     50,164,670.13       244,155.76           

 

I. COLLECTIONS

          

Lease Payments: ( Lease SUBI)

          

Monthly Principal

             10,845,485.40  

Monthly Interest

             4,149,366.90  
          

 

 

 

Total Monthly Payments

             14,994,852.30  

Interest Rate Cap Payments

             0.00  

Advances:

          

Aggregate Monthly Payment Advances

 

        544,278.07  

Aggregate Sales Proceeds Advance

 

        2,621,690.24  
          

 

 

 

Total Advances

             3,165,968.31  

Vehicle Disposition Proceeds:

          

Repurchase Payments

             0.00  

Recoveries

             0.00  

Net Liquidation Proceeds (includes Reallocation Payments and Net Auction Proceeds)

 

          42,609,355.70  

Excess Wear and Tear and Excess Mileage

 

        18,813.97  

Remaining Payoffs

             0.00  

Net Insurance Proceeds

             1,355,334.26  

Residual Value Surplus

             537,787.75  
          

 

 

 

Total Collections

             62,682,112.29  
Vehicle Disposition Activity for the current month - Terminated and Sold
(included in Vehicle Disposition Proceeds)
    Reallocation
Payments
and Net Auction
Proceeds
    Net Insurance
Sales
    Lease Payoffs     Count  

Early Termination

       1,855,810.00           73  

Involuntary Repossession

       174,161.00           8  

Voluntary Repossession

       76,875.00           3  

Full Termination

       2,038,027.00           82  

Bankruptcty

       39,353.00           2  

Insurance Payoff

         1,354,481.01         53  

Customer Payoff

           6,590,993.17       335  

Grounding Dealer Payoff

           32,298,862.45       1,627  

Dealer Purchase

           —         —    
    

 

 

   

 

 

   

 

 

   

 

 

 

Total

       4,184,226.00       1,354,481.01       38,889,855.62       2,183  

II. COLLATERAL POOL BALANCE DATA

 

       
     Number     Book Amount     Discount Rate     Securitization
Value
       

Pool Balance - Beginning of Period

     42,090       893,836,960.27       7.00000     784,661,821.30    

Total Depreciation Received

       (13,033,178.94       (10,300,424.38  

Principal Amount of Gross Losses

     (70     (1,450,659.90       (1,303,221.33  

Repurchase / Reallocation

     0       0.00         0.00    

Early Terminations

     (26     (741,266.55       (588,232.83  

Scheduled Terminations

     (2,123     (42,702,536.05       (37,972,791.59  
  

 

 

   

 

 

     

 

 

   

Pool Balance - End of Period

     39,871       835,909,318.83         734,497,151.17    

Remaining Pool Balance

          

Lease Payment

           146,003,338.93    

Residual Value

           588,493,812.24    
        

 

 

   

Total

           734,497,151.17    


NISSAN AUTO LEASE TRUST 2021-A

Servicer’s Report

 

III. DISTRIBUTIONS

  

Total Collections

     62,682,112.29  

Reserve Amounts Available for Distribution

     0.00  
  

 

 

 

Total Available for Distribution

     62,682,112.29  

1. Amounts due Indenture Trustee as Compensation or Indemnity

     0.00  

2. Reimbursement of Payment Advance

     548,395.48  

3. Reimbursement of Sales Proceeds Advance

     2,090,239.47  

4. Servicing Fee:

  

Servicing Fee Due

     653,884.85  

Servicing Fee Paid

     653,884.85  

Servicing Fee Shortfall

     0.00  
  

 

 

 

Total Trustee, Advances and Servicing Fee Paid

     3,292,519.80  

5. Interest:

  

Class A-1 Notes Monthly Interest

  

Class A-1 Notes Interest Carryover Shortfall

     0.00  

Class A-1 Notes Interest on Interest Carryover Shortfall

     0.00  

Class A-1 Notes Monthly Available Interest Distribution Amount

     0.00  

Class A-1 Notes Monthly Interest Paid

     0.00  

Chg in Class A-1 Notes Int. Carryover Shortfall

     0.00  

Class A-2a Notes Monthly Interest

  

Class A-2a Notes Interest Carryover Shortfall

     0.00  

Class A-2a Notes Interest on Interest Carryover Shortfall

     0.00  

Class A-2a Notes Monthly Available Interest Distribution Amount

     26,514.09  

Class A-2a Notes Monthly Interest Paid

     26,514.09  

Chg in Class A-2a Notes Int. Carryover Shortfall

     0.00  

Class A-2b Notes Monthly Interest

  

Class A-2b Notes Interest Carryover Shortfall

     0.00  

Class A-2b Notes Interest on Interest Carryover Shortfall

     0.00  

Class A-2b Notes Monthly Available Interest Distribution Amount

     0.00  

Class A-2b Notes Monthly Interest Paid

     0.00  

Chg in Class A-2b Notes Int. Carryover Shortfall

     0.00  

Class A-3 Notes Monthly Interest

  

Class A-3 Notes Interest Carryover Shortfall

     0.00  

Class A-3 Notes Interest on Interest Carryover Shortfall

     0.00  

Class A-3 Notes Monthly Available Interest Distribution Amount

     171,600.00  

Class A-3 Notes Monthly Interest Paid

     171,600.00  

Chg in Class A-3 Notes Int. Carryover Shortfall

     0.00  

Class A-4 Monthly Interest

  

Class A-4 Notes Interest Carryover Shortfall

     0.00  

Class A-4 Notes Interest on Interest Carryover Shortfall

     0.00  

Class A-4 Notes Monthly Available Interest Distribution Amount

     46,041.67  

Class A-4 Notes Monthly Interest Paid

     46,041.67  

Chg in Class A-4 Notes Int. Carryover Shortfall

     0.00  

Certificate Monthly Interest

  

Certificate Interest Carryover Shortfall

     0.00  

Certificate Interest on Interest Carryover Shortfall

     0.00  

Certificate Monthly Available Interest Distribution Amount

     0.00  

Certificate Monthly Interest Paid

     0.00  

Chg in Certificate Int. Carryover Shortfall

     0.00  

Total Note and Certificate Monthly Interest

  

Total Note and Certificate Monthly Interest Due

     244,155.76  

Total Note and Certificate Monthly Interest Paid

     244,155.76  

Total Note and Certificate Interest Carryover Shortfall

     0.00  

Chg in Total Note and Certificate Int. Carryover Shortfall

     0.00  

Total Available for Principal Distribution

     59,145,436.73  

6. Total Monthly Principal Paid on the Notes

  

Total Monthly Principal Paid on the Class A Notes

     50,164,670.13  

Total Class A Noteholders’ Principal Carryover Shortfall

     0.00  

Total Class A Noteholders’ Principal Distributable Amount

     50,164,670.13  

Chg in Total Class A Noteholders’ Principal Carryover Shortfall

     0.00  

7. Total Monthly Principal Paid on the Certificates

     0.00  

Total Certificateholders’ Principal Carryover Shortfall

     0.00  

Total Certificateholders’ Principal Distributable Amount

     0.00  

Chg in Total Certificateholders’ Principal Carryover Shortfall

     0.00  

Remaining Available Collections

     8,980,766.60  


NISSAN AUTO LEASE TRUST 2021-A

Servicer’s Report

 

IV. RESERVE ACCOUNT

      

Initial Reserve Account Amount

         2,994,013.61  

Required Reserve Account Amount

         5,988,027.23  

Beginning Reserve Account Balance

         5,988,027.23  

Additional Cash Infusion

         0.00  

Reinvestment Income for the Period

         0.00  

Reserve Fund Available for Distribution

         5,988,027.23  

Reserve Fund Draw Amount

         0.00  

Deposit of Remaining Available Collections

         8,980,766.60  

Gross Reserve Account Balance

         14,968,793.83  

Remaining Available Collections Released to Seller

         8,980,766.60  

Total Ending Reserve Account Balance

         5,988,027.23  
V. POOL STATISTICS       

Weighted Average Remaining Maturity

         10.27  

Monthly Prepayment Speed

         -80

Lifetime Prepayment Speed

         88
           $     units  

Recoveries of Defaulted and Casualty Receivables

       1,674,554.64    

Securitization Value of Defaulted Receivables and Casualty Receivables

       1,303,221.33       70  

Aggregate Defaulted and Casualty Gain (Loss)

       371,333.31    

Pool Balance at Beginning of Collection Period

       784,661,821.30    

Net Loss Ratio

      

Current Collection Period

       0.0473  

Preceding Collection Period

       0.0509  

Second Preceding Collection Period

       0.0488  

Third Preceding Collection Period

       0.0491  

Cumulative Net Losses for all Periods

       -0.5079     (6,082,385.76
     % of BOP Pool Balance     Amount     Number  

Delinquent Receivables:

      

31-60 Days Delinquent

     0.69     5,418,207.78       280  

61-90 Days Delinquent

     0.11     890,432.13       45  

91-120 Days Delinquent

     0.05     395,335.16       22  

More than 120 Days

     0.01     41,037.20       2  
    

 

 

   

 

 

 

Total Delinquent Receivables:

     0.85     6,745,012.27       349  
           Amount     Number  

61+ Days Delinquencies as Percentage of Receivables

      

Current Collection Period

       0.17     0.16

Preceding Collection Period

       0.16     0.17

Second Preceding Collection Period

       0.18     0.17

Third Preceding Collection Period

       0.13     0.13

60 Day Delinquent Receivables

       1,592,781.30    

Delinquency Percentage

       0.20  

Delinquency Trigger

       4.40  

Does the Delinquency Percentage exceed the Delinquency Trigger?

       No    
           $     units  

Aggregate Sales Performance of Auctioned Vehicles

      

Sales Proceeds

       3,893,837.00       155  

Securitization Value

       3,403,542.37       155  
    

 

 

   

Aggregate Residual Value Surplus (Loss)

       490,294.63    
           $     units  

Cumulative Sales Performance of Auctioned Vehicles

      

Cumulative Sales Proceeds

       11,184,572.03       421  

Cumulative Securitization Value

       9,743,027.56       421  
    

 

 

   

Cumulative Residual Value Surplus (Loss)

       1,441,544.47    
    

 

 

   
VI. RECONCILIATION OF ADVANCES       

Beginning Balance of Residual Advance

         2,565,337.80  

Reimbursement of Outstanding Advance

         2,090,239.47  

Additional Advances for current period

         2,621,690.24  
      

 

 

 

Ending Balance of Residual Advance

         3,096,788.57  
      

 

 

 

Beginning Balance of Payment Advance

         1,435,645.59  

Reimbursement of Outstanding Payment Advance

         548,395.48  

Additional Payment Advances for current period

         544,278.07  
      

 

 

 

Ending Balance of Payment Advance

         1,431,528.18  
      

 

 

 


NISSAN AUTO LEASE TRUST 2021-A

Servicer’s Report

 

VII. STATEMENTS TO NOTEHOLDERS         

1. Has there been any material change in practices with respect to charge-offs, collection and management of delinquent Leases, and the effect of any grace period, re-aging, re-structuring, partial payments or other practices on delinquency and loss experience?

           NO  

2. Have there been any material modifications, extensions or waivers to Lease terms, fees, penalties or payments during the Collection Period?

           NO  

3. Have there been any material breaches of representations, warranties or covenants contained in the Leases?

           NO  

4. Has there been any new issuance of notes or other securities backed by the SUBI Assets?

           NO  

5. Has there been any material additions, removals or substitutions of SUBI Assets, or repurchases of SUBI Assets?

           NO  

6. Has there been any material change in the underwriting, origination or acquisition of Leases?

           NO