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 | |||||||||||||||||||||||||||||
| May 2026 | 06/22/2026 | 31 | 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 | 33 | SOFR +0.95 | % | 06/12/2026 | 3.59301 | % | 4.54 | % | ||||||||||||||||||||
| 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 | % | ||||||||||||||||||||||||
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| Total |
$ | 600,000,000.00 | ||||||||||||||||||||||||||||||
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| Series 2023-7 Allocation % x Group One Available Funds |
$ | 41,283,903.91 | ||
| 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 |
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| Total Available Funds |
$ | 41,283,903.91 |
| 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 |
$ | 45.01 | $ | 45.01 | $ | 0.00 | $ | 0.00 | $ | 41,283,858.90 | ||||||||||
| Owner Trustee Fee |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 41,283,858.90 | ||||||||||
| Asset Representations Reviewer Fee |
$ | 23.14 | $ | 23.14 | $ | 0.00 | $ | 0.00 | $ | 41,283,835.76 | ||||||||||
| Supplemental ARR Fee |
$ | 92.54 | $ | 92.54 | $ | 0.00 | $ | 0.00 | $ | 41,283,743.22 | ||||||||||
| Indenture Trustee Fee |
$ | 1,250.00 | $ | 1,250.00 | $ | 0.00 | $ | 0.00 | $ | 41,282,493.22 | ||||||||||
| Servicing Fee |
$ | 468,508.80 | $ | 468,508.80 | $ | 0.00 | $ | 0.00 | $ | 40,813,984.42 | ||||||||||
| Class A-1a Note Interest |
$ | 2,053,532.25 | $ | 2,053,532.25 | $ | 0.00 | $ | 0.00 | $ | 38,760,452.17 | ||||||||||
| Class A-1b Note Interest |
$ | 416,442.58 | $ | 416,442.58 | $ | 0.00 | $ | 0.00 | $ | 38,344,009.59 | ||||||||||
| First Priority Principal Payment |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 38,344,009.59 | ||||||||||
| Class B Note Interest |
$ | 202,987.67 | $ | 202,987.67 | $ | 0.00 | $ | 0.00 | $ | 38,141,021.92 | ||||||||||
| Second Priority Principal Payment |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 38,141,021.92 | ||||||||||
| Class C Note Interest |
$ | 94,197.67 | $ | 94,197.67 | $ | 0.00 | $ | 0.00 | $ | 38,046,824.25 | ||||||||||
| Third Priority Principal Payment |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 38,046,824.25 | ||||||||||
| Reserve Account up to Required Reserve Amount |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 38,046,824.25 | ||||||||||
| Regular Priority Principal Payment |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 38,046,824.25 | ||||||||||
| Supplemental Successor Servicer Fee |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 38,046,824.25 | ||||||||||
| Additional Interest Amounts |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 38,046,824.25 | ||||||||||
| Make-Whole Payments |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 38,046,824.25 | ||||||||||
| Additional Fees and Expenses |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 38,046,824.25 | ||||||||||
| Additional Trust Expenses |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 38,046,824.25 | ||||||||||
| Class R Interest |
$ | 38,046,824.25 | $ | 38,046,824.25 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||
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| Total |
$ | 41,283,903.91 | $ | 41,283,903.91 | $ | 0.00 | $ | 0.00 | ||||||||||||
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| Total Priority Principal Payments and Additional Interest Amounts |
$ | 0.00 | ||||||||||||||||||
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| 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 | $ | 416,442.58 | $ | 0.00 | $ | 0.00 | $ | 416,442.58 | ||||||||||||
| 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 | ||||||||||||
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| Total |
$ | 0.00 | $ | 0.00 | $ | 2,767,160.17 | $ | 0.00 | $ | 0.00 | $ | 2,767,160.17 | ||||||||||||
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| Payment per $1,000 of Notes | As of Prior Payment Date | Current Payment Date | ||||||||||||||||||||||||||||||
| Noteholder Payments |
Note Balance per $1,000 of Notes |
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 | $ | 4.16 | $ | 0.00 | $ | 4.16 | $ | 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 | ||||||||||||||||||
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| Total |
$ | 1,000.00 | $ | 4.61 | $ | 0.00 | $ | 4.61 | $ | 600,000,000.00 | 1.00 | $ | 600,000,000.00 | 1.00 | ||||||||||||||||||
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| 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.
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