|
Collection Period Ending: 5/31/2026
|
|||||
|
Previous Payment Date: 5/26/2026
|
Accrued Interest Days (30/360):
|
30
|
|||
|
Current Payment Date: 6/25/2026
|
Accrued Interest Days (act/360):
|
30
|
|||
|
Balances
|
||||||||||||
|
Initial
|
Beginning of Period
|
End of Period
|
||||||||||
|
Aggregate Securitization Value
|
$
|
1,554,404,326.97
|
$
|
1,137,717,178.92
|
$
|
1,100,290,194.98
|
||||||
|
Aggregate Discounted ALG Residual Value
|
$
|
839,064,918.99
|
$
|
778,573,473.57
|
$
|
768,796,499.37
|
||||||
|
Reserve Fund
|
$
|
3,886,010.82
|
$
|
3,886,010.82
|
$
|
3,886,010.82
|
||||||
|
Notes
|
||||||||||||
|
Class A-1 Notes
|
$
|
205,000,000.00
|
$
|
-
|
$
|
-
|
||||||
|
Class A-2a Notes
|
350,000,000.00
|
178,392,398.46
|
152,757,477.95
|
|||||||||
|
Class A-2b Notes
|
161,000,000.00
|
82,060,503.29
|
70,268,439.86
|
|||||||||
|
Class A-3 Notes
|
511,000,000.00
|
511,000,000.00
|
511,000,000.00
|
|||||||||
|
Class A-4 Notes
|
123,000,000.00
|
123,000,000.00
|
123,000,000.00
|
|||||||||
|
$
|
1,350,000,000.00
|
$
|
894,452,901.75
|
$
|
857,025,917.81
|
|||||||
|
Overcollateralization
|
$
|
204,404,326.97
|
$
|
243,264,277.17
|
||||||||
|
Current Collection Period
|
||||
|
Beginning Securitization Value
|
$
|
1,137,717,178.92
|
||
|
PrincipalReduction Amount
|
37,426,983.94
|
|||
|
Ending Securitization Value
|
$
|
1,100,290,194.98
|
||
|
First Priority Principal
|
||||
|
Aggregate Outstanding Note Balance (Beginning of Period)
|
$
|
894,452,901.75
|
||
|
Aggregate Securitization Value (End of Period)
|
$
|
1,100,290,194.98
|
||
|
First Priority Principal Distribution Amount
|
$
|
-
|
||
|
Target Note Balance
|
$
|
857,025,917.81
|
||
|
Target Overcollateralization Amount
|
$
|
243,264,277.17
|
||
|
Target Overcollateralization Percentage
|
15.65
|
%
|
||
|
Determination of Available Funds
|
||||
|
Collections
|
||||
|
Monthly Payments (net of Daily Advance Reimbursements)*
|
$
|
26,722,876.77
|
||
|
Reallocation Payment
|
151,029.99
|
|||
|
Sale Proceeds
|
1,780,566.20
|
|||
|
Termination Proceed
|
21,917,507.58
|
|||
|
Recovery Proceeds
|
31,553.78
|
|||
|
Total Collections
|
$
|
50,603,534.32
|
||
|
Advances
|
||||
|
Monthly Payment Advance
|
$
|
1,664,496.32
|
||
|
Sales Proceeds Advance
|
-
|
|||
|
Total Advances
|
$
|
1,664,496.32
|
||
|
Optional Purchase Price
|
0.00
|
|||
|
Net Investment Earnings on SUBI Collection Account
|
-
|
|||
|
Total Available Funds
|
$
|
52,268,030.64
|
||
|
Collection Account
|
||||
|
Total Available Funds
|
$
|
52,268,030.64
|
||
|
Withdrawals from SUBI Collection Account
|
||||
|
Payment Date Advance Reimbursement
|
1,755,877.87
|
|||
|
Servicing Fees
|
948,097.65
|
|||
|
Note Distribution Account (Interest Due)
|
3,278,910.56
|
|||
|
Note Distribution Account (First Priority Principal Distribution Amount)
|
-
|
|||
|
Reserve Fund Deposit
|
-
|
|||
|
Note Distribution Account (Regular Principal Distribution Amount)
|
37,426,983.94
|
|||
|
Amounts paid to Indenture Trustee, Owner Trustee and Asset Representations Reviewer (subject to annual cap)
|
-
|
|||
|
Amounts paid to Indenture Trustee, Owner Trustee and Asset Representations Reviewer ( not subject to annual cap)
|
-
|
|||
|
Certificate Distribution Account (any remaining payments)
|
8,858,160.62
|
|||
|
Total Distributions from SUBI Collection Account
|
$
|
52,268,030.64
|
||
|
Servicer Advance Amounts
|
||||
|
Beginning Period Unreimbursed Servicer Advance
|
$
|
1,982,178.32
|
||
|
Current Period Monthly Payment Advance
|
1,664,496.32
|
|||
|
Current Period Sales Proceeds Advance
|
-
|
|||
|
Current Reimbursement of Previous Servicer Advance
|
1,755,877.87
|
|||
|
Ending Period Unreimbursed Previous Servicer Advances
|
$
|
1,890,796.77
|
||
|
Note Distribution Account
|
||||
|
Amount Deposited from the Collection Account
|
$
|
40,705,894.50
|
||
|
Amount Deposited from the Reserve Fund
|
-
|
|||
|
Amount Paid to Noteholders
|
$
|
40,705,894.50
|
||
|
Payments to Indenture Trustee, Owner Trustee and Asset Representations Reviewer
|
||||
|
Indenture Trustee
|
||||
|
Amount due and payable to Indenture Trustee before giving effect to payments on current Payment Date:
|
$
|
-
|
||
|
Amount due and payable to Indenture Trustee after giving effect to payments on current Payment Date:
|
$
|
-
|
||
|
Owner Trustee
|
||||
|
Amount due and payable to Owner Trustee before giving effect to payments on current Payment Date:
|
$
|
-
|
||
|
Amount due and payable to Owner Trustee after giving effect to payments on current Payment Date:
|
$
|
-
|
||
|
Asset Representations Reviewer Trustee
|
||||
|
Amount due and payable to Asset Representations Reviewer before giving effect to payments on current Payment Date:
|
$
|
-
|
||
|
Amount due and payable to Asset Representations Reviewer after giving effect to payments on current Payment Date:
|
$
|
-
|
||
|
Distributions
|
||||||||||||||||||||||||
|
Priority Principal
|
||||||||||||||||||||||||
|
Aggregate Outstanding Note Principal
|
$
|
894,452,901.75
|
||||||||||||||||||||||
|
Monthly Principal Distributable Amount
|
First Priority Principal
|
Current Payment
|
Total Payment
|
Ending Balance
|
Per $1,000
|
Note Factor
|
||||||||||||||||||
|
Class A-1 Notes
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
-
|
-
|
||||||||||||||
|
Class A-2a Notes
|
-
|
25,634,920.51
|
25,634,920.51
|
152,757,477.95
|
73
|
0.44
|
||||||||||||||||||
|
Class A-2b Notes
|
-
|
11,792,063.43
|
11,792,063.43
|
70,268,439.86
|
73
|
0.44
|
||||||||||||||||||
|
Class A-3 Notes
|
-
|
-
|
-
|
511,000,000.00
|
-
|
1.00
|
||||||||||||||||||
|
Class A-4 Notes
|
-
|
-
|
-
|
123,000,000.00
|
-
|
1.00
|
||||||||||||||||||
|
$
|
-
|
$
|
37,426,983.94
|
$
|
37,426,983.94
|
$
|
857,025,917.81
|
|||||||||||||||||
|
Interest Distributable Amount
|
Interest Rate
|
Current Payment
|
Per $1,000
|
|||||||||||||||||||||
|
Class A-1 Notes
|
4.46000
|
%
|
$
|
-
|
0.00
|
|||||||||||||||||||
|
Class A-2a Notes
|
4.43000
|
%
|
$
|
658,565.27
|
1.88
|
|||||||||||||||||||
|
Class A-2b Notes
|
4.00210
|
%
|
$
|
273,678.62
|
1.70
|
|||||||||||||||||||
|
Class A-3 Notes
|
4.43000
|
%
|
$
|
1,886,441.67
|
3.69
|
|||||||||||||||||||
|
Class A-4 Notes
|
4.49000
|
%
|
$
|
460,225.00
|
3.74
|
|||||||||||||||||||
|
$
|
3,278,910.56
|
|||||||||||||||||||||||
|
Carryover Shortfalls
|
||||||||||||
|
Prior Period Carryover
|
Current Payment
|
Current Period Carryover
|
||||||||||
|
Class A-1 Interest Carryover Shortfall
|
-
|
-
|
-
|
|||||||||
|
Class A-2a Interest Carryover Shortfall
|
-
|
-
|
-
|
|||||||||
|
Class A-2b Interest Carryover Shortfall
|
-
|
-
|
-
|
|||||||||
|
Class A-3 Interest Carryover Shortfall
|
-
|
-
|
-
|
|||||||||
|
Class A-4 Interest Carryover Shortfall
|
-
|
-
|
-
|
|||||||||
|
Reserve Fund
|
||||
|
Beginning Period Required Amount
|
$
|
3,886,010.82
|
||
|
Beginning Period Amount
|
3,886,010.82
|
|||
|
Current Period Deposit
|
-
|
|||
|
Net Investment Earnings
|
11,527.76
|
|||
|
Reserve Fund Draw Amount
|
-
|
|||
|
Release to Certificateholder
|
11,527.76
|
|||
|
Ending Period Required Amount
|
3,886,010.82
|
|||
|
Ending Period Amount
|
$
|
3,886,010.82
|
||
|
Pool Characteristics
|
||||||||||||
|
Initial
|
End of Period
|
|||||||||||
|
Number of Specified Leases
|
30,480
|
25,239
|
||||||||||
|
Weighted Average Remaining Term
|
26.00
|
14.71
|
||||||||||
|
Weighted Average Original Term
|
36.00
|
35.94
|
||||||||||
|
Weighted Average Seasoning
|
10.00
|
21.23
|
||||||||||
|
Units
|
Securitization Value
|
|||||||||||
|
Early Terminations
|
302
|
$
|
12,696,861.24
|
|||||||||
|
Scheduled Terminations
|
190
|
$
|
6,911,267.40
|
|||||||||
|
Residual Value Losses for the Current Period
|
Beginning
|
Current Period
|
Cumulative
|
|||||||||
|
Sales and Termination Proceeds
|
$
|
200,829,964.77
|
$
|
20,871,666.11
|
$
|
221,701,630.88
|
||||||
|
ALG Residual Values
|
150,057,121.10
|
16,445,329.55
|
166,502,450.65
|
|||||||||
|
Residual Value Loss / (Gain)
|
$
|
(4,426,336.56
|
)
|
$
|
(55,199,180.23
|
)
|
||||||
|
Cumulative Residual Value Loss / (Gain) as of the end of the prior period
|
$
|
(50,772,843.67
|
)
|
|||||||||
|
Cumulative Residual Value Loss / (Gain) as of the end of the 2nd preceding period
|
$
|
(45,746,699.84
|
)
|
|||||||||
|
Cumulative Residual Value Loss / (Gain) as of the end of the 3rd preceding period
|
$
|
(40,812,509.60
|
)
|
|||||||||
|
Delinquencies as of the end of the current period
|
Units
|
Securitization Value
|
Percentage
|
|||||||||
|
31-60 Days Delinquent
|
78
|
3,723,725.44
|
0.34
|
%
|
||||||||
|
61-90 Days Delinquen
|
26
|
1,192,065.46
|
0.11
|
%
|
||||||||
|
91-120 Days Delinquent
|
7
|
324,161.76
|
0.03
|
%
|
||||||||
|
121 - 150 Days Delinquent
|
1
|
72,523.22
|
0.01
|
%
|
||||||||
|
151 Days or More Delinquent
|
0
|
0.00
|
0.00
|
%
|
||||||||
|
Total 30+ Days Past Due as of the end of the current period
|
112
|
$
|
5,312,475.88
|
0.48
|
%
|
|||||||
|
Total 60+ Days Past Due as of the end of the current period
|
34
|
$
|
1,588,750.44
|
0.14
|
%
|
|||||||
|
Delinquencies as of the end of prior periods
|
||||||||||||
|
Total 30+ Days Past Due as of the end of the prior period
|
0.50
|
%
|
||||||||||
|
Total 30+ Days Past Due as of the end of the 2nd preceding period
|
0.53
|
%
|
||||||||||
|
Total 30+ Days Past Due as of the end of the 3rd preceding period
|
0.50
|
%
|
||||||||||
|
Credit Losses as of the end of the current period
|
Units
|
Dollar Amount
|
||||||||||
|
Gross Credit Losses
|
7
|
85,683.23
|
||||||||||
|
Recoveries
|
6
|
9,039.92
|
||||||||||
|
Net Credit Losses
|
76,643.31
|
|||||||||||
|
Cumulative Net Credit Losses
|
34
|
$
|
269,642.24
|
|||||||||
|
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.02
|
%
|
||||||||||
|
Charge Off Rate ***
|
0.02
|
%
|
||||||||||
|
Average of Net Credit Losses ***
|
$
|
7,930.65
|
||||||||||
|
Historical Loss Information
|
||||||||
|
Credit Losses as of the end of the prior period
|
Units
|
Dollar Amount
|
||||||
|
Gross Credit Losses
|
1
|
3,426.48
|
||||||
|
Recoveries
|
8
|
11,068.01
|
||||||
|
Net Credit Losses
|
(7,641.53
|
)
|
||||||
|
Cumulative Net Credit Losses
|
27
|
$
|
192,998.93
|
|||||
|
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.02
|
%
|
||||||
|
Charge Off Rate ***
|
0.01
|
%
|
||||||
|
Average of Net Credit Losses ****
|
7,148.11
|
|||||||
|
Credit Losses as of the end of the 2nd preceding period
|
Units
|
Dollar Amount
|
||||||
|
Gross Credit Losses
|
6
|
81,449.07
|
||||||
|
Recoveries
|
7
|
51,604.77
|
||||||
|
Net Credit Losses
|
29,844.30
|
|||||||
|
Cumulative Net Credit Losses
|
26
|
$
|
200,640.46
|
|||||
|
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.02
|
%
|
||||||
|
Charge Off Rate ***
|
0.01
|
%
|
||||||
|
Average of Net Credit Losses ****
|
7,716.94
|
|||||||
|
Credit Losses as of the end of the 3rd preceding period
|
Units
|
Dollar Amount
|
||||||
|
Gross Credit Losses
|
3
|
48,019.23
|
||||||
|
Recoveries
|
2
|
4,585.08
|
||||||
|
Net Credit Losses
|
43,434.15
|
|||||||
|
Cumulative Net Credit Losses
|
20
|
$
|
170,796.16
|
|||||
|
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.01
|
%
|
||||||
|
Charge Off Rate ***
|
0.01
|
%
|
||||||
|
Average of Net Credit Losses ****
|
8,539.81
|
|||||||
|
* Includes Pull Ahead amounts
|
|
** Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value is calculated by dividing the Cumulative Net Credit Losses by the Avg Aggregate Sec Value for the
period.
|
|
Avg Aggregate Sec Value for a period is equal to the average of the Beginning Securitization Value and the Ending Securitization Value for such period.
|
|
*** Charge Off Rate is calculated by dividing Cumulative Net Credit Losses by Initial Aggregate Securitization Value as of the Cut-off date.
|
|
**** Average of Net Credit Losses is calculated by dividing Cumulative Net Credit Losses by the aggregate number of Leases that have experienced a net credit loss.
|