Exhibit 99.9
Monthly Investor Report: Verizon Master Trust - VZMT 2025-3
| Collection Period |
Payment Date | Transaction Month | Series Status at End of Prior Payment Date | |||||||||||||||||||||||||||||
| May 2026 | 06/22/2026 | 15 | Revolving | |||||||||||||||||||||||||||||
| Offered |
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 |
3/22/27 | 03/20/2030 | $ | 706,008,000.00 | 4.51 | % | 4.51 | % | ||||||||||||||||||||||||
| Class A-1b |
3/22/27 | 03/20/2030 | $ | 185,000,000.00 | 33 | SOFR +0.55 | % | 06/12/2026 | 3.59301 | % | 4.14 | % | ||||||||||||||||||||
| Class B |
3/22/27 | 03/20/2030 | $ | 68,120,000.00 | 4.77 | % | 4.77 | % | ||||||||||||||||||||||||
| Class C |
3/22/27 | 03/20/2030 | $ | 40,872,000.00 | 4.90 | % | 4.90 | % | ||||||||||||||||||||||||
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| Total |
$ | 1,000,000,000.00 | ||||||||||||||||||||||||||||||
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| Series 2025-3 Allocation % x Group One Available Funds |
$ | 68,047,728.31 | ||
| 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 |
$ | 68,047,728.31 |
| Beginning of Period Reserve Account Balance |
$ | 10,899,182.56 | ||
| Required Reserve Amount |
$ | 10,899,182.56 | ||
| 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 |
$ | 10,899,182.56 |
| Waterfall Distribution | Amount Due | Amount Paid | Shortfall | Carryover Shortfall | Remaining Available Funds | |||||||||||||||
| Master Collateral Agent Fee |
$ | 74.19 | $ | 74.19 | $ | 0.00 | $ | 0.00 | $ | 68,047,654.12 | ||||||||||
| Owner Trustee Fee |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 68,047,654.12 | ||||||||||
| Asset Representations Reviewer Fee |
$ | 38.13 | $ | 38.13 | $ | 0.00 | $ | 0.00 | $ | 68,047,615.99 | ||||||||||
| Supplemental ARR Fee |
$ | 152.53 | $ | 152.53 | $ | 0.00 | $ | 0.00 | $ | 68,047,463.46 | ||||||||||
| Indenture Trustee Fee |
$ | 1,250.00 | $ | 1,250.00 | $ | 0.00 | $ | 0.00 | $ | 68,046,213.46 | ||||||||||
| Servicing Fee |
$ | 772,237.04 | $ | 772,237.04 | $ | 0.00 | $ | 0.00 | $ | 67,273,976.42 | ||||||||||
| Class A-1a Note Interest |
$ | 2,653,413.40 | $ | 2,653,413.40 | $ | 0.00 | $ | 0.00 | $ | 64,620,563.02 | ||||||||||
| Class A-1b Note Interest |
$ | 702,585.45 | $ | 702,585.45 | $ | 0.00 | $ | 0.00 | $ | 63,917,977.57 | ||||||||||
| First Priority Principal Payment |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 63,917,977.57 | ||||||||||
| Class B Note Interest |
$ | 270,777.00 | $ | 270,777.00 | $ | 0.00 | $ | 0.00 | $ | 63,647,200.57 | ||||||||||
| Second Priority Principal Payment |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 63,647,200.57 | ||||||||||
| Class C Note Interest |
$ | 166,894.00 | $ | 166,894.00 | $ | 0.00 | $ | 0.00 | $ | 63,480,306.57 | ||||||||||
| Third Priority Principal Payment |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 63,480,306.57 | ||||||||||
| Reserve Account up to Required Reserve Amount |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 63,480,306.57 | ||||||||||
| Regular Priority Principal Payment |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 63,480,306.57 | ||||||||||
| Supplemental Successor Servicer Fee |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 63,480,306.57 | ||||||||||
| Additional Interest Amounts |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 63,480,306.57 | ||||||||||
| Make-Whole Payments |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 63,480,306.57 | ||||||||||
| Additional Fees and Expenses |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 63,480,306.57 | ||||||||||
| Additional Trust Expenses |
$ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 63,480,306.57 | ||||||||||
| Class R Interest |
$ | 63,480,306.57 | $ | 63,480,306.57 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||||||
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| Total |
$ | 68,047,728.31 | $ | 68,047,728.31 | $ | 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 | $ | 2,653,413.40 | $ | 0.00 | $ | 0.00 | $ | 2,653,413.40 | ||||||||||||
| Class A-1b |
$ | 0.00 | $ | 0.00 | $ | 702,585.45 | $ | 0.00 | $ | 0.00 | $ | 702,585.45 | ||||||||||||
| Class B |
$ | 0.00 | $ | 0.00 | $ | 270,777.00 | $ | 0.00 | $ | 0.00 | $ | 270,777.00 | ||||||||||||
| Class C |
$ | 0.00 | $ | 0.00 | $ | 166,894.00 | $ | 0.00 | $ | 0.00 | $ | 166,894.00 | ||||||||||||
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| Total |
$ | 0.00 | $ | 0.00 | $ | 3,793,669.85 | $ | 0.00 | $ | 0.00 | $ | 3,793,669.85 | ||||||||||||
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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 | $ | 3.76 | $ | 0.00 | $ | 3.76 | $ | 706,008,000.00 | 1.00 | $ | 706,008,000.00 | 1.00 | ||||||||||||||||||
| Class A-1b |
$ | 1,000.00 | $ | 3.80 | $ | 0.00 | $ | 3.80 | $ | 185,000,000.00 | 1.00 | $ | 185,000,000.00 | 1.00 | ||||||||||||||||||
| Class B |
$ | 1,000.00 | $ | 3.98 | $ | 0.00 | $ | 3.98 | $ | 68,120,000.00 | 1.00 | $ | 68,120,000.00 | 1.00 | ||||||||||||||||||
| Class C |
$ | 1,000.00 | $ | 4.08 | $ | 0.00 | $ | 4.08 | $ | 40,872,000.00 | 1.00 | $ | 40,872,000.00 | 1.00 | ||||||||||||||||||
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| Total |
$ | 1,000.00 | $ | 3.79 | $ | 0.00 | $ | 3.79 | $ | 1,000,000,000.00 | 1.00 | $ | 1,000,000,000.00 | 1.00 | ||||||||||||||||||
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| Beginning Period | Add: Deposit | Ending Period | ||||||||||
| Principal Funding Account Limit |
$ | 500,000,000.00 | 500,000,000.00 | |||||||||
| 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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