Exhibit 99.1

 

World Omni Automobile Lease Securitization Trust 2024-A PAGE 1
MONTHLY SERVICER CERTIFICATE  
For the collection period ended 05/31/2025  

 

A.   DATES   Begin   End   # days  
   
1   Payment Date       6/16/2025        
2   Collection Period   5/1/2025   5/31/2025     31  
3   Monthly Interest Period-Actual   5/15/2025   6/15/2025     32  
4   Monthly Interest - Scheduled   5/15/2025   6/14/2025     30  

 

B. SUMMARY

 

                          Principal Payment              
              Initial Balance     Beginning Balance     1st Priority     2nd Priority     Regular     Ending Balance     Note Factor  
5   Class A-1 Notes           112,000,000.00       -       -       -       -       -       0.0000000  
6   Class A-2a Notes           85,000,000.00       47,391,192.67       -       -       6,038,872.69       41,352,319.98       0.4864979  
7   Class A-2b Notes           240,000,000.00       133,810,426.36       -       -       17,050,934.64       116,759,491.72       0.4864979  
8   Class A-3 Notes           325,000,000.00       325,000,000.00       -       -       -       325,000,000.00       1.0000000  
9   Class A-4 Notes           65,650,000.00       65,650,000.00       -       -       -       65,650,000.00       1.0000000  
10   Total Class A Notes           827,650,000.00       571,851,619.03       -       -       23,089,807.33       548,761,811.70          
11   Class B Notes           47,060,000.00       47,060,000.00       -       -       -       47,060,000.00       1.0000000  
                                                                   
12   Total Notes         $ 874,710,000.00       618,911,619.03     $ 0.00     $ 0.00     $ 23,089,807.33       595,821,811.70          
                                                                   
    Overcollateralization                                                              
13   Exchange Note           59,470,656.90       45,163,235.82                               43,777,847.38          
14   Series 2024-A Notes           56,996,958.16       88,645,742.21                               90,031,130.65          
                                                                   
15   Total Overcollateralization           116,467,615.06       133,808,978.03                               133,808,978.03          
16   Total Target Overcollateralization         $ 133,808,978.03       133,808,978.03                               133,808,978.03          
                                                                   
              Coupon Rate     Interest Pmt Due     Per $1000
Face Amount
    Principal
Payment Due
    Per $1000
Face Amount
    Interest
Shortfall
         
17   Class A-1 Notes           5.50100 %     0.00       0.0000000       0.00       0.0000000       0.00          
18   Class A-2a Notes           5.32000 %     210,100.95       2.4717759       6,038,872.69       71.0455610       0.00          
19   Class A-2b Notes   4.33228 %     4.76228     566,437.97       2.3601582       17,050,934.64       71.0455610       0.00          
20   Class A-3 Notes           5.26000 %     1,424,583.33       4.3833333       0.00       0.0000000       0.00          
21   Class A-4 Notes           5.25000 %     287,218.75       4.3750000       0.00       0.0000000       0.00          
22   Total Class A Notes                   2,488,341.00       3.0065136       23,089,807.33       27.8980334       0.00          
23   Class B Notes           5.62000 %     220,397.67       4.6833334       0.00       0.0000000       0.00          
                                                                   
24   Totals                   2,708,738.67       3.0967277       23,089,807.33       26.3971000       0.00          
              Initial Balance     Beginning Balance                             Ending Balance          
25   Exchange Note Balance           931,706,958.16       707,557,361.24                               685,852,942.35           

 

    Reference Pool Balance Data   Initial     Current                    
26   Discount Rate     10.80 %     10.80 %                  
27   Aggregate Securitization Value     991,177,615.06       729,630,789.73                    
28   Aggregate Base Residual Value (Not Discounted)     717,803,942.35       599,690,592.77                    
                                       
    Turn-in Units   Units     Securitization Value     Percentage            
29   Vehicles Scheduled to Return in Current Month     13       194,799.91                    
30   Turn-in Ratio on Scheduled Terminations                     0.00 %          
                                       
        Units     Securitization Value                    
31   Securitization Value — Beginning of Period     26,999       752,720,597.06                    
32   Depreciation/Payments             (6,750,558.35 )                  
33   Gross Credit Losses     (45 )     (1,512,326.45 )                  
34   Early Terminations — Regular     (3 )     (98,321.02 )                  
35   Scheduled Terminations — Returned     (1 )     (13,514.25 )                  
36   Payoff Units & Lease Reversals     (528 )     (14,715,087.26 )                  
37   Repurchased Leases     -       -                    
                                       
38   Securitization Value - End of Period     26,422       729,630,789.73                    

 

 

 

 

World Omni Automobile Lease Securitization Trust 2024-A PAGE 2
MONTHLY SERVICER CERTIFICATE  
For the collection period ended 05/31/2025  

 

C. SERVICING FEE

 

39   Servicing Fee Due     627,267.16           
                     
40   Unpaid Servicing Fees - Prior Collection Periods     0.00           
                     
41   Change in Servicing Fee Due - Current Collection Period vs. Prior Collection Period     (18,933.63 )        
                     
D.   RESERVE ACCOUNT                
                     
    Reserve Account Balances:                
42   Required Reserve Account Balance (0.50% of Initial Securitization Value)     4,955,888.08           
43   Beginning Reserve Account Balance     4,955,888.08           
44   Ending Reserve Account Balance     4,955,888.08           

 

E.   POOL STATISTICS                              
                                   
    Delinquencies Aging Profile — End of Period   Units     Percentage     Securitization Value              
45   Total Active Units (Excluding Inventory)     26,050       98.74 %     718,072,935.44              
46   31 - 60 Days Delinquent     275       1.04 %     8,409,168.97              
47   61 - 90 Days Delinquent     51       0.19 %     1,751,957.53              
48   91 -120 Days Delinquent     8       0.03 %     234,764.59              
49   121+ Days Delinquent     -       -       -              
                                         
50   Total     26,384       100.00 %     728,468,826.53              
                                         
51   Total 61+ Delinquent as % End of Period Securitization Value                     0.27 %
52   Delinquency Trigger Occurred                                 NO  
                                         
53   Prepayment Speed (1 Month)                                 0.67 %

 

    Current Period Net Residual Losses/(Gains) on Scheduled and Early Termination Units   Units     Amounts  
                 
54   Aggregate Securitization Value for Scheduled and Early Termination Units Terminated During Current Period     4       111,835.27  
55   Less: Aggregate Sales Proceeds, Recoveries & Expenses for Scheduled and Early Termination Units Received in Current Period             (146,548.00 )
56   Less: Excess Wear and Tear Received in Current Period             -     
57   Less: Excess Mileage Received in Current Period             -   
                     
58   Current Period Net Residual Losses/(Gains) - Scheduled and Early Termination Units             (34,712.73)
                     
    Current and Prior Period Net Residual Losses/(Gains) as a % of Beginning Securitization Value (Annualized)          
59   Current Period Net Residual Losses/(Gains) Ratio             -0.06 %
60   Prior Period Net Residual Losses/(Gains) Ratio             0.05 %
61   Second Prior Period Net Residual Losses/(Gains) Ratio             -0.04 %
62   Third Prior Period Net Residual Losses/(Gains) Ratio             -0.05 %
63   Four Month Average             -0.03 %
                     
64   Beginning Cumulative Net Residual Losses/(Gains)             (105,020.90 )
65   Current Period Net Residual Losses/(Gains)             (34,712.73 )
                     
66   Ending Cumulative Net Residual Losses/(Gains) - Scheduled and Early Termination Units             (139,733.63 )
                   
67   Cumulative Net Residual Losses/(Gains) as a % of Aggregate Initial Securitization Value             -0.01 %
                     
    Credit Losses/(Gains):     Units       Amounts  
68   Aggregate Securitization Value on charged-off units     45       1,512,326.45  
69   Aggregate Liquidation Proceeds, Recoveries & Expenses on charged-off units             (1,062,547.23 )
                     
70   Current Period Net Credit Losses/(Gains)             449,779.22  
                     
    Current and Prior Period Net Credit Losses/(Gains) as a % of Beginning Securitization Value (Annualized)                
71   Current Period Net Credit Losses/(Gains) Ratio             0.72 %
72   Prior Period Net Credit Losses/(Gains) Ratio             0.03 %
73   Second Prior Period Net Credit Losses/(Gains) Ratio             0.35 %
74   Third Prior Period Net Credit Losses/(Gains) Ratio             0.20 %
75   Four Month Average             0.33 %
                     
76   Beginning Cumulative Net Credit Losses/(Gains)             3,912,943.69  
77   Current Period Net Credit Losses/(Gains)              449,779.22  
                     
78   Ending Cumulative Net Credit Losses/(Gains)             4,362,722.91  
                     
79   Cumulative Net Credit Losses/(Gains) as a % of Aggregate Initial Securitization Value             0.44 %

 

 

 

 

World Omni Automobile Lease Securitization Trust 2024-A PAGE 3
MONTHLY SERVICER CERTIFICATE  
For the collection period ended 05/31/2025  

 

F.   EXCHANGE NOTE COLLECTION ACCOUNT              
                   
    COLLECTED AMOUNTS
                   
80   Lease Payments Received     13,378,578.64           
81   Sales Proceeds, Recoveries & Expenses - Scheduled Terminations     20,143.00           
82   Liquidation Proceeds, Recoveries & Expenses     977,584.75           
83   Insurance Proceeds     84,962.48           
84   Sales Proceeds, Recoveries & Expenses - Early Terminations     126,405.00        
85   Payoff Payments     16,807,199.89           
86   All Other Payments Received              
                     
87   Collected Amounts     31,394,873.76           
                     
88   Investment Earnings on Collection Account     104,398.01           
                     
89   Total Collected Amounts - Available for Distribution     31,499,271.77           
                     
    DISTRIBUTIONS FROM EXCHANGE NOTE COLLECTION ACCOUNT                
                     
90   Servicing Fee     627,267.16           
91   Interest on the Exchange Note - to the Trust Collection Account     3,313,726.98           
92   Principal on the Exchange Note - to the Trust Collection Account     21,704,418.89           
93   Trust Collection Account Shortfall Amount - to the Trust Collection Account     5,669,362.41           
94   Remaining Funds Payable to Trust Collection Account     184,496.33           
                     
95   Total Distributions     31,499,271.77           
                     
G.   TRUST COLLECTION ACCOUNT                
                     
    AVAILABLE FUNDS                
                     
96   Available Funds     30,872,004.61           
                     
97   Investment Earnings on Reserve Account     17,953.12           
                     
98   Reserve Account Draw Amount              
                     
99   Total Available Funds - Available for Distribution     30,889,957.73           
                     
    DISTRIBUTIONS FROM TRUST COLLECTION ACCOUNT                
                     
100   Administration Fee     31,363.36           
101   Asset Representation Reviewer Amounts (up to $150,000 per year)              
102   Class A Noteholders' Interest Distributable Amount     2,488,341.00           
103   Noteholders' First Priority Principal Distributable Amount              
104   Class B Noteholders' Interest Distributable Amount     220,397.67           
105   Noteholders' Second Priority Principal Distributable Amount              
106   Amount to Reinstate Reserve Account to Required Reserve Account Balance              
107   Noteholders' Regular Principal Distributable Amount     23,089,807.33           
108   Asset Representation Reviewer Amounts (in excess of $150,000 per year)              
109   Remaining Funds Payable to Certificate holder     5,060,048.37           
                     
110   Total Distributions     30,889,957.73           
                     
    COMPLIANCE WITH EUROPEAN UNION RISK RETENTION RULES                

 

World Omni Financial Corp. (“World Omni”), as “originator” for the purposes of the EU Securitization Rules (as defined in the Indenture), continues to retain, a material net economic interest (the “EU Retained Interest”), in the form of retention of a first loss tranche as described in option (d) of Article 6(3) of the EU Securitization Regulation, by holding (i) all the limited liability company interests in World Omni Auto Leasing LLC (“WOAL”), which in turn retains the Certificates (as defined in the Indenture) issued by World Omni Automobile Lease Securitization Trust 2024-A, and (ii) the residual interest in the 2024-A Reference Pool (as defined in the Indenture), such Certificates and interest, collectively representing at least 5% of the aggregate Securitization Value of the Units in the 2024-A Reference Pool (each as defined in the Indenture). World Omni has not (and has not permitted WOAL or any of its other affiliates to hedge or otherwise mitigate its credit risk under or associated with the EU Retained Interest, or sell, transfer or otherwise surrender all or part of the rights, benefits or obligations arising from the EU Retained Interest) hedged or otherwise mitigated its credit risk under or associated with the EU Retained Interest, or sold, transferred or otherwise surrendered all or part of the rights, benefits or obligations arising from the EU Retained Interest, except, in each case, to the extent permitted in accordance with the EU Securitization Rules. Further, World Omni has not changed the retention option or method of calculating the EU Retained Interest.