John Deere Owner Trust 2023 | EXHIBIT 99.3 | |||
Servicer's Certificate | | |||
Check for Error | | |||
$252,000,000 Class A-1 5.08700% Asset Backed Notes due March 15, 2024 | | |||
$348,000,000 Class A-2 5.28% Asset Backed Notes due March 16, 2026 | | |||
$318,000,000 Class A-3 5.01% Asset Backed Notes due November 15, 2027 | | |||
$64,594,000 Class A-4 5.01% Asset Backed Notes due December 17, 2029 | | |||
$25,194,481 Overcollateralization | | |||
| | |||
| | |||
Scheduled Payment Date (30/360) | 15-Sep-25 | |||
Actual Payment Date (A/360) | 15-Sep-25 | |||
Collection Period Begin Date | 28-Jul-25 | |||
Collection Period End Date | 24-Aug-25 | |||
Days in accrual period (30/360) | 30 | |||
Days in accrual period (ACT/360) | 31 | |||
| | |||
(1) | Total Distribution Amount: | $15,921,044.52 | ||
| (a) | Total cash receipts during the month: | $15,526,963.79 | |
| (b) | Administrative repurchases during the month: | $357,805.93 | |
| (c) | Investment earnings on cash accounts: | $36,274.80 | |
| (d) | Payment from Deere to buy-back the deal: | $0.00 | |
| | |||
(2) | (a) | Administration Fee: | $100.00 | |
| (b) | Administration Fee Shortfall: | $0.00 | |
| | |||
(3) | Noteholders' Interest Distributable Amount deposited into Note Distribution Account: | $1,084,383.83 | ||
| Noteholders' Interest Carryover Shortfall: | $0.00 | ||
| | |||
| (a) | (i) | Noteholders' Interest Distributable Amount applicable to Class A-1 Notes: | $0.00 |
| | (ii) | Noteholders' Interest Carryover Shortfall applicable to Class A-1 Notes: | $0.00 |
| | |||
| (b) | (i) | Noteholders' Interest Distributable Amount applicable to Class A-2 Notes: | $0.00 |
| | (ii) | Noteholders' Interest Carryover Shortfall applicable to Class A-2 Notes: | $0.00 |
| | |||
| (c) | (i) | Noteholders' Interest Distributable Amount applicable to Class A-3 Notes: | $814,703.88 |
| | (ii) | Noteholders' Interest Carryover Shortfall applicable to Class A-3 Notes: | $0.00 |
| | |||
| (d) | (i) | Noteholders' Interest Distributable Amount applicable to Class A-4 Notes: | $269,679.95 |
| | (ii) | Noteholders' Interest Carryover Shortfall applicable to Class A-4 Notes: | $0.00 |
| | |||
(4) | Noteholders' Principal Distribution Amount deposited into Note Distribution Account: | $13,850,972.49 | ||
| Noteholders' Principal Carryover Shortfall: | $0.00 | ||
| | |||
| (a) | (i) | Class A-1 Noteholders' Monthly Principal Distributable Amount: | $0.00 |
| | (ii) | % of Principal Distribution Amount applicable to Class A-1 Noteholders: | 0.00% |
| | (iii) | Class A-1 Noteholders' Principal Carryover Shortfall: | $0.00 |
| | (iv) | Class A-1 Noteholders' Principal Distributable Amount: | $0.00 |
| | |||
| (b) | (i) | Class A-2 Noteholders' Monthly Principal Distributable Amount: | $0.00 |
| | (ii) | % of Principal Distribution Amount applicable to Class A-2 Noteholders: | 0.00% |
| | (iii) | Class A-2 Noteholders' Principal Carryover Shortfall: | $0.00 |
| | (iv) | Class A-2 Noteholders' Principal Distributable Amount: | $0.00 |
| | |||
| (c) | (i) | Class A-3 Noteholders' Monthly Principal Distributable Amount: | $13,850,972.49 |
| | (ii) | % of Principal Distribution Amount applicable to Class A-3 Noteholders: | 100.00% |
| | (iii) | Class A-3 Noteholders' Principal Carryover Shortfall: | $0.00 |
| | (iv) | Class A-3 Noteholders' Principal Distributable Amount: | $13,850,972.49 |
| | |||
| (d) | (i) | Class A-4 Noteholders' Monthly Principal Distributable Amount: | $0.00 |
| | (ii) | % of Principal Distribution Amount applicable to Class A-4 Noteholders: | 0.00% |
| | (iii) | Class A-4 Noteholders' Principal Carryover Shortfall: | $0.00 |
| | (iv) | Class A-4 Noteholders' Principal Distributable Amount: | $0.00 |
1
(5) | Noteholders' Distributable Amount: | $14,935,356.32 | ||
| | |||
(6) | Reserve Account balance: | | ||
| (a) | Beginning balance: | $10,077,884.81 | |
| (b) | Amount to increase the amount on deposit in the Reserve Account to the Specified Reserve Account Balance: | $0.00 | |
| (c) | Amount to be withdrawn from the Reserve Account and deposited into Note Distribution Account (5.05(e)): | $0.00 | |
| | (i) | Interest Amount included above: | $0.00 |
| | (ii) | Principal Amount included above: | $0.00 |
| (d) | Amount to be withdrawn from the Reserve Account and Deposited into Certificateholder Account (5.05(c)): | $0.00 | |
| (e) | Ending Balance (after giving effect to all distributions): | $10,077,884.81 | |
| (f) | Specified Reserve Account Balance: | $10,077,884.81 | |
| | |||
(7) | Servicing Fee: | $244,899.39 | ||
| (a) | Amount of Servicing Fee earned: | $244,899.39 | |
| (b) | Amount of Servicing Fee paid: | $244,899.39 | |
| (c) | Amount of Servicing Fee Shortfall: | $0.00 | |
| | |||
(8) | Amount paid to Indenture Trustee: | $0.00 | ||
| | |||
(9) | Amount paid to Owner Trustee: | $0.00 | ||
| | |||
(10) | Amount paid to Asset Representations Reviewer | | ||
| (a) | Section 5.04 (iii) - Asset Representations Review Fees | $0.00 | |
| (b) | Section 5.04 (ix) - Asset Representations Review Fees | $0.00 | |
| | |||
(11) | Amount Paid to Certificateholder: | $740,688.81 | ||
| | |||
(12) | (a) | Pool Balance (excluding Accrued Interest) as of close of business on the last day of the related Collection Period: | $278,782,224.79 | |
| | |||
| (b) | Note Value as of the end of the related Collection Period: | $271,076,163.49 | |
| | |||
| (c) | Amount of Overcollateralization (Note value less aggregate principal amount of Notes): | $25,194,481.00 | |
| | |||
| (d) | Number of Accounts at the end of the related Collection Period: | 8,126 | |
| | |||
(13) | After giving effect to all distributions on such Payment Date: | | ||
| (a) | (i) | Outstanding Principal Balance of Class A-1 Notes: | $0.00 |
| | (ii) | Class A-1 Note Pool Factor: | 0.0000000 |
| | |||
| (b) | (i) | Outstanding Principal Balance of Class A-2 Notes: | $0.00 |
| | (ii) | Class A-2 Note Pool Factor: | 0.0000000 |
| | |||
| (c) | (i) | Outstanding Principal Balance of Class A-3 Notes: | $181,287,682.01 |
| | (ii) | Class A-3 Note Pool Factor: | 0.5700871 |
| | |||
| (d) | (i) | Outstanding Principal Balance of Class A-4 Notes: | $64,594,000.00 |
| | (ii) | Class A-4 Note Pool Factor: | 1.0000000 |
2
(14) | (a) | Number of Receivables that were the subject of a repurchase demand in the related Collection Period: | | |
| | (i) | Aggregate Principal Balance of Receivables: | $0.00 |
| | (ii) | % of Pool Balance: | 0.00% |
| | |||
| (b) | Number of Purchased Receivables in the related Collection Period: | | |
| | (i) | Aggregate Principal Balance of Purchased Receivables: | $105,877.71 |
| | (ii) | % of Pool Balance: | 0.04% |
| | |||
| (c) | Number of Receivables pending repurchase (within cure period) in the related Collection Period: | | |
| | (i) | Aggregate Principal Balance of Receivables: | $0.00 |
| | (ii) | % of Pool Balance: | 0.00% |
| | |||
| (d) | Number of repurchase demands in dispute in the related Collection Period: | | |
| | (i) | Aggregate Principal Balance of Receivables: | $0.00 |
| | (ii) | % of Pool Balance: | 0.00% |
| | |||
| (e) | Number of repurchase demands withdrawn in the related Collection Period: | | |
| | (i) | Aggregate Principal Balance of related Receivables: | $0.00 |
| | (ii) | % of Pool Balance: | 0.00% |
| | |||
| (f) | Number of repurchase demands rejected in the related Collection Period: | | |
| | (i) | Aggregate Principal Balance of related Receivables: | $0.00 |
| | (ii) | % of Pool Balance: | 0.00% |
| | |||
(15) | (i) | Aggregate amount of net losses for the collection period: | $124,801.99 | |
| (ii) | Cumulative amount of net losses: | $3,633,583.02 | |
| (iii) | Cumulative net loss as a percent of Initial Pool Balance (Cumulative Net Loss Ratio): | 0.33% | |
| | |||
(16) | (i) | Payoff Amount of Receivables 60 days or more past due as a % of the Pool Balance: | 2.80% | |
| | |||
(17) | Collateral Composition: | | ||
| (a) | Number of loans at the beginning of the period: | 8,376 | |
| (b) | Number of loans at the end of the period: | 8,126 | |
| (c) | Weighted average remaining term on receivables: | 20.12 | |
| (d) | Prepayment amount - monthly: | ($3,705,737.48) | |
| (e) | Prepayment amount - life-to-date: | $120,258,093.27 | |
| (f) | Weighted average APR of the pool assets: | 3.49% | |
| (g) | Pool Factor: | 0.25 | |
| | |||
(18) | (a) | Delinquency Trigger: | 14.60% | |
| (b) | Payoff Amount of Receivables 60 or more days past due as a percent of ending Pool Balance: | 2.80% | |
| (c) | Delinquency Trigger Occurred: Y/N | N | |
3