Exhibit 99.1
NISSAN AUTO LEASE TRUST 2021-A
Servicers 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
Servicers 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
Servicers 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
Servicers 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 |