Exhibit 99.3
| Monthly Investor Report: Verizon Master Trust - VZMT 2023-7 | ||||||
| Collection Period | Payment Date | Transaction Month | Series Status at End of Prior Payment Date | |||
| February 2026 | 03/20/2026 | 28 | Revolving | |||
| Offered Notes | Anticipated Redemption Date | Final Maturity Date | Issuance Note Balance | SOFR:Days in the Interest Period | Note Interest Rate | SOFR Adjustment Date | SOFR30A | Total | ||||||||||||||||||||||||
| Class A-1a |
11/20/26 | 11/20/2029 | $434,610,000.00 | 5.67% | 5.67 | % | ||||||||||||||||||||||||||
| Class A-1b |
11/20/26 | 11/20/2029 | $100,000,000.00 | 28 | SOFR +0.95% | 03/13/2026 | 3.67223% | 4.62 | % | |||||||||||||||||||||||
| Class B |
11/20/26 | 11/20/2029 | $40,870,000.00 | 5.96% | 5.96 | % | ||||||||||||||||||||||||||
| Class C |
11/20/26 | 11/20/2029 | $24,520,000.00 | 4.61% | 4.61 | % | ||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||
| Total |
$600,000,000.00 | |||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||
| Series 2023-7 Allocation % x Group One Available Funds |
$38,309,766.35 | |||
| Amounts paid by the Cap Counterparty |
N/A | |||
| Available Subordinated Amounts |
$0.00 | |||
| Amounts drawn on the Reserve Account |
$0.00 | |||
| Amounts released from Principal Funding Account |
$0.00 | |||
| Any amounts deposited by the Class A Certificateholder in connection with an Optional Redemption |
||||
| Total Available Funds |
$38,309,766.35 | |||
| Beginning of Period Reserve Account Balance |
$6,539,509.54 | |||
| Required Reserve Amount |
$6,539,509.54 | |||
| Shortfall in Required Reserve Amount |
$0.00 | |||
| Reserve Account funds needed this period (True/False) |
FALSE | |||
| Reserve Account draw amount required |
0.00 | |||
| Reserve Account Deposit Amount |
$0.00 | |||
| End of Period Reserve Account Balance |
$6,539,509.54 | |||
| Waterfall Distribution | Amount Due | Amount Paid | Shortfall | Carryover Shortfall | Remaining Available Funds | |||||||||||||||||||
| Master Collateral Agent Fee |
$43.30 | $43.30 | $0.00 | $0.00 | $38,309,723.05 | |||||||||||||||||||
| Owner Trustee Fee |
$0.00 | $0.00 | $0.00 | $0.00 | $38,309,723.05 | |||||||||||||||||||
| Asset Representations Reviewer Fee |
$27.23 | $27.23 | $0.00 | $0.00 | $38,309,695.82 | |||||||||||||||||||
| Supplemental ARR Fee |
$108.90 | $108.90 | $0.00 | $0.00 | $38,309,586.92 | |||||||||||||||||||
| Indenture Trustee Fee |
$1,250.00 | $1,250.00 | $0.00 | $0.00 | $38,308,336.92 | |||||||||||||||||||
| Servicing Fee |
$468,859.98 | $468,859.98 | $0.00 | $0.00 | $37,839,476.94 | |||||||||||||||||||
| Class A-1a Note Interest |
$2,053,532.25 | $2,053,532.25 | $0.00 | $0.00 | $35,785,944.69 | |||||||||||||||||||
| Class A-1b Note Interest |
$359,506.78 | $359,506.78 | $0.00 | $0.00 | $35,426,437.91 | |||||||||||||||||||
| First Priority Principal Payment |
$0.00 | $0.00 | $0.00 | $0.00 | $35,426,437.91 | |||||||||||||||||||
| Class B Note Interest |
$202,987.67 | $202,987.67 | $0.00 | $0.00 | $35,223,450.24 | |||||||||||||||||||
| Second Priority Principal Payment |
$0.00 | $0.00 | $0.00 | $0.00 | $35,223,450.24 | |||||||||||||||||||
| Class C Note Interest |
$94,197.67 | $94,197.67 | $0.00 | $0.00 | $35,129,252.57 | |||||||||||||||||||
| Third Priority Principal Payment |
$0.00 | $0.00 | $0.00 | $0.00 | $35,129,252.57 | |||||||||||||||||||
| Reserve Account up to Required Reserve Amount |
$0.00 | $0.00 | $0.00 | $0.00 | $35,129,252.57 | |||||||||||||||||||
| Regular Priority Principal Payment |
$0.00 | $0.00 | $0.00 | $0.00 | $35,129,252.57 | |||||||||||||||||||
| Supplemental Successor Servicer Fee |
$0.00 | $0.00 | $0.00 | $0.00 | $35,129,252.57 | |||||||||||||||||||
| Additional Interest Amounts |
$0.00 | $0.00 | $0.00 | $0.00 | $35,129,252.57 | |||||||||||||||||||
| Make-Whole Payments |
$0.00 | $0.00 | $0.00 | $0.00 | $35,129,252.57 | |||||||||||||||||||
| Additional Fees and Expenses |
$0.00 | $0.00 | $0.00 | $0.00 | $35,129,252.57 | |||||||||||||||||||
| Additional Trust Expenses |
$0.00 | $0.00 | $0.00 | $0.00 | $35,129,252.57 | |||||||||||||||||||
| Class R Interest |
$35,129,252.57 | $35,129,252.57 | $0.00 | $0.00 | $0.00 | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Total |
$38,309,766.35 | $38,309,766.35 | $0.00 | $0.00 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Total Priority Principal Payments and Additional Interest Amounts |
|
$0.00 | ||||||||||||||||||||||
Page 1 of 2
| Noteholder Payments | Note Balance | PFA Account | Interest Payment | Add’l Interest | Make-Whole | Total Payment | ||||||||||||||||||
| Class A-1a |
$0.00 | $0.00 | $2,053,532.25 | $0.00 | $0.00 | $2,053,532.25 | ||||||||||||||||||
| Class A-1b |
$0.00 | $0.00 | $359,506.78 | $0.00 | $0.00 | $359,506.78 | ||||||||||||||||||
| Class B |
$0.00 | $0.00 | $202,987.67 | $0.00 | $0.00 | $202,987.67 | ||||||||||||||||||
| Class C |
$0.00 | $0.00 | $94,197.67 | $0.00 | $0.00 | $94,197.67 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total |
$0.00 | $0.00 | $2,710,224.37 | $0.00 | $0.00 | $2,710,224.37 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Note Balance per $1,000 of Notes |
Payment per $1,000 of Notes
|
As of Prior Payment Date
|
Current Payment Date
|
|||||||||||||||||||||||||||||
| Noteholder Payments | Interest Payment | Make-Whole Payment | Total Payment | Balance | Note Pool Factor | Balance | Note Pool Factor | |||||||||||||||||||||||||
| Class A-1a |
$1,000.00 | $4.73 | $0.00 | $4.73 | $434,610,000.00 | 1.00 | $434,610,000.00 | 1.00 | ||||||||||||||||||||||||
| Class A-1b |
$1,000.00 | $3.60 | $0.00 | $3.60 | $100,000,000.00 | 1.00 | $100,000,000.00 | 1.00 | ||||||||||||||||||||||||
| Class B |
$1,000.00 | $4.97 | $0.00 | $4.97 | $40,870,000.00 | 1.00 | $40,870,000.00 | 1.00 | ||||||||||||||||||||||||
| Class C |
$1,000.00 | $3.84 | $0.00 | $3.84 | $24,520,000.00 | 1.00 | $24,520,000.00 | 1.00 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Total |
$1,000.00 | $4.52 | $0.00 | $4.52 | $600,000,000.00 | 1.00 | $600,000,000.00 | 1.00 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
| Beginning Period | Add: Deposit | Ending Period | ||||||||||||||||||||||
| Principal Funding Account Limit |
$300,000,000.00 | 300,000,000.00 | ||||||||||||||||||||||
| Principal Funding Account balance |
$0.00 | $0.00 | $0.00 | |||||||||||||||||||||
| Note: Information regarding Amortization Event Tests and Excess Concentration Amounts can be found on the Verizon Master Trust report filed as Exhibit 99.1 to this Form 10-D. | ||||||
Page 2 of 2