|
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
|
$
|
1,727,123,541.32
|
$
|
1,661,160,916.05
|
$
|
1,628,747,036.03
|
||||||
|
Aggregate Discounted ALG Residual Value
|
$
|
969,496,483.37
|
$
|
971,320,215.76
|
$
|
970,955,169.37
|
||||||
|
Reserve Fund
|
$
|
4,317,808.85
|
$
|
4,317,808.85
|
$
|
4,317,808.85
|
||||||
|
Notes
|
||||||||||||
|
Class A-1 Notes
|
$
|
249,600,000.00
|
$
|
157,528,183.22
|
$
|
114,032,890.73
|
||||||
|
Class A-2a Notes
|
490,200,000.00
|
490,200,000.00
|
490,200,000.00
|
|||||||||
|
Class A-2b Notes
|
90,000,000.00
|
90,000,000.00
|
90,000,000.00
|
|||||||||
|
Class A-3 Notes
|
580,200,000.00
|
580,200,000.00
|
580,200,000.00
|
|||||||||
|
Class A-4 Notes
|
90,000,000.00
|
90,000,000.00
|
90,000,000.00
|
|||||||||
|
$
|
1,500,000,000.00
|
$
|
1,407,928,183.22
|
$
|
1,364,432,890.73
|
|||||||
|
Overcollateralization
|
$
|
227,123,541.32
|
$
|
264,314,145.30
|
||||||||
|
Current Collection Period
|
||||
|
Beginning Securitization Value
|
$
|
1,661,160,916.05
|
||
|
PrincipalReduction Amount
|
32,413,880.02
|
|||
|
Ending Securitization Value
|
$
|
1,628,747,036.03
|
||
|
First Priority Principal
|
||||
|
Aggregate Outstanding Note Balance (Beginning of Period)
|
$
|
1,407,928,183.22
|
||
|
Aggregate Securitization Value (End of Period)
|
$
|
1,628,747,036.03
|
||
|
First Priority Principal Distribution Amount
|
$
|
-
|
||
|
Target Note Balance
|
$
|
1,358,452,201.81
|
||
|
Target Overcollateralization Amount
|
$
|
270,294,834.22
|
||
|
Target Overcollateralization Percentage
|
15.65
|
%
|
||
|
Determination of Available Funds
|
||||
|
Collections
|
||||
|
Monthly Payments (net of Daily Advance Reimbursements)*
|
$
|
34,159,387.83
|
||
|
Reallocation Payment
|
311,489.08
|
|||
|
Sale Proceeds
|
667,601.52
|
|||
|
Termination Proceed
|
14,185,301.68
|
|||
|
Recovery Proceeds
|
12,116.48
|
|||
|
Total Collections
|
$
|
49,335,896.59
|
||
|
Advances
|
||||
|
Monthly Payment Advance
|
$
|
2,081,508.14
|
||
|
Sales Proceeds Advance
|
-
|
|||
|
Total Advances
|
$
|
2,081,508.14
|
||
|
Optional Purchase Price
|
0.00
|
|||
|
Net Investment Earnings on SUBI Collection Account
|
-
|
|||
|
Total Available Funds
|
$
|
51,417,404.73
|
||
|
Collection Account
|
||||
|
Total Available Funds
|
$
|
51,417,404.73
|
||
|
Withdrawals from SUBI Collection Account
|
||||
|
Payment Date Advance Reimbursement
|
1,770,096.53
|
|||
|
Servicing Fees
|
1,384,300.76
|
|||
|
Note Distribution Account (Interest Due)
|
4,767,714.95
|
|||
|
Note Distribution Account (First Priority Principal Distribution Amount)
|
-
|
|||
|
Reserve Fund Deposit
|
-
|
|||
|
Note Distribution Account (Regular Principal Distribution Amount)
|
43,495,292.49
|
|||
|
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)
|
-
|
|||
|
Total Distributions from SUBI Collection Account
|
$
|
51,417,404.73
|
||
|
Servicer Advance Amounts
|
||||
|
Beginning Period Unreimbursed Servicer Advance
|
$
|
2,075,105.49
|
||
|
Current Period Monthly Payment Advance
|
2,081,508.14
|
|||
|
Current Period Sales Proceeds Advance
|
-
|
|||
|
Current Reimbursement of Previous Servicer Advance
|
1,770,096.53
|
|||
|
Ending Period Unreimbursed Previous Servicer Advances
|
$
|
2,386,517.10
|
||
|
Note Distribution Account
|
||||
|
Amount Deposited from the Collection Account
|
$
|
48,263,007.44
|
||
|
Amount Deposited from the Reserve Fund
|
-
|
|||
|
Amount Paid to Noteholders
|
$
|
48,263,007.44
|
||
|
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
|
$
|
1,407,928,183.22
|
||||||||||||||||||||||
|
Monthly Principal Distributable Amount
|
First Priority Principal
|
Current Payment
|
Total Payment
|
Ending Balance
|
Per $1,000
|
Note Factor
|
||||||||||||||||||
|
Class A-1 Notes
|
$
|
-
|
$
|
43,495,292.49
|
$
|
43,495,292.49
|
$
|
114,032,890.73
|
174
|
0.46
|
||||||||||||||
|
Class A-2a Notes
|
-
|
-
|
-
|
490,200,000.00
|
-
|
1.00
|
||||||||||||||||||
|
Class A-2b Notes
|
-
|
-
|
-
|
90,000,000.00
|
-
|
1.00
|
||||||||||||||||||
|
Class A-3 Notes
|
-
|
-
|
-
|
580,200,000.00
|
-
|
1.00
|
||||||||||||||||||
|
Class A-4 Notes
|
-
|
-
|
-
|
90,000,000.00
|
-
|
1.00
|
||||||||||||||||||
|
$
|
-
|
$
|
43,495,292.49
|
$
|
43,495,292.49
|
$
|
1,364,432,890.73
|
|||||||||||||||||
|
Interest Distributable Amount
|
Interest Rate
|
Current Payment
|
Per $1,000
|
|||||||||||||||||||||
|
Class A-1 Notes
|
3.83000
|
%
|
$
|
502,777.45
|
2.01
|
|||||||||||||||||||
|
Class A-2a Notes
|
4.03000
|
%
|
$
|
1,646,255.00
|
3.36
|
|||||||||||||||||||
|
Class A-2b Notes
|
3.98210
|
%
|
$
|
298,657.50
|
3.32
|
|||||||||||||||||||
|
Class A-3 Notes
|
4.15000
|
%
|
$
|
2,006,525.00
|
3.46
|
|||||||||||||||||||
|
Class A-4 Notes
|
4.18000
|
%
|
$
|
313,500.00
|
3.48
|
|||||||||||||||||||
|
$
|
4,767,714.95
|
|||||||||||||||||||||||
|
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
|
$
|
4,317,808.85
|
||
|
Beginning Period Amount
|
4,317,808.85
|
|||
|
Current Period Deposit
|
-
|
|||
|
Net Investment Earnings
|
12,791.25
|
|||
|
Reserve Fund Draw Amount
|
-
|
|||
|
Release to Certificateholder
|
12,791.25
|
|||
|
Ending Period Required Amount
|
4,317,808.85
|
|||
|
Ending Period Amount
|
$
|
4,317,808.85
|
||
|
Pool Characteristics
|
||||||||||||
|
Initial
|
End of Period
|
|||||||||||
|
Number of Specified Leases
|
34,284
|
33,454
|
||||||||||
|
Weighted Average Remaining Term
|
26.00
|
23.14
|
||||||||||
|
Weighted Average Original Term
|
37.00
|
37.32
|
||||||||||
|
Weighted Average Seasoning
|
11.00
|
14.17
|
||||||||||
|
Units
|
Securitization Value
|
|||||||||||
|
Early Terminations
|
197
|
$
|
9,192,346.59
|
|||||||||
|
Scheduled Terminations
|
64
|
$
|
2,317,502.01
|
|||||||||
|
Residual Value Losses for the Current Period
|
Beginning
|
Current Period
|
Cumulative
|
|||||||||
|
Sales and Termination Proceeds
|
$
|
22,659,472.34
|
$
|
12,819,429.04
|
$
|
35,478,901.38
|
||||||
|
ALG Residual Values
|
14,919,859.20
|
8,941,644.50
|
23,861,503.70
|
|||||||||
|
Residual Value Loss / (Gain)
|
$
|
(3,877,784.54
|
)
|
$
|
(11,617,397.68
|
)
|
||||||
|
Cumulative Residual Value Loss / (Gain) as of the end of the prior period
|
$
|
(7,739,613.14
|
)
|
|||||||||
|
Cumulative Residual Value Loss / (Gain) as of the end of the 2nd preceding period
|
$
|
-
|
||||||||||
|
Cumulative Residual Value Loss / (Gain) as of the end of the 3rd preceding period
|
$
|
-
|
||||||||||
|
Delinquencies as of the end of the current period
|
Units
|
Securitization Value
|
Percentage
|
|||||||||
|
31-60 Days Delinquent
|
83
|
4,515,082.66
|
0.28
|
%
|
||||||||
|
61-90 Days Delinquen
|
14
|
829,183.05
|
0.05
|
%
|
||||||||
|
91-120 Days Delinquent
|
14
|
958,289.27
|
0.06
|
%
|
||||||||
|
121 - 150 Days Delinquent
|
0
|
-
|
0.00
|
%
|
||||||||
|
151 Days or More Delinquent
|
0
|
0.00
|
0.00
|
%
|
||||||||
|
Total 30+ Days Past Due as of the end of the current period
|
111
|
$
|
6,302,554.98
|
0.39
|
%
|
|||||||
|
Total 60+ Days Past Due as of the end of the current period
|
28
|
$
|
1,787,472.32
|
0.11
|
%
|
|||||||
|
Delinquencies as of the end of prior periods
|
||||||||||||
|
Total 30+ Days Past Due as of the end of the prior period
|
0.27
|
%
|
||||||||||
|
Total 30+ Days Past Due as of the end of the 2nd preceding period
|
0.00
|
%
|
||||||||||
|
Total 30+ Days Past Due as of the end of the 3rd preceding period
|
0.00
|
%
|
||||||||||
|
Credit Losses as of the end of the current period
|
Units
|
Dollar Amount
|
||||||||||
|
Gross Credit Losses
|
2
|
108,659.08
|
||||||||||
|
Recoveries
|
2
|
3,695.59
|
||||||||||
|
Net Credit Losses
|
104,963.49
|
|||||||||||
|
Cumulative Net Credit Losses
|
2
|
$
|
103,813.60
|
|||||||||
|
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.01
|
%
|
||||||||||
|
Charge Off Rate ***
|
0.01
|
%
|
||||||||||
|
Average of Net Credit Losses ***
|
$
|
51,906.80
|
||||||||||
|
Historical Loss Information
|
||||||||
|
Credit Losses as of the end of the prior period
|
Units
|
Dollar Amount
|
||||||
|
Gross Credit Losses
|
0
|
-
|
||||||
|
Recoveries
|
1
|
1,149.89
|
||||||
|
Net Credit Losses
|
(1,149.89
|
)
|
||||||
|
Cumulative Net Credit Losses
|
0
|
$
|
(1,149.89
|
)
|
||||
|
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.00
|
%
|
||||||
|
Charge Off Rate ***
|
0.00
|
%
|
||||||
|
Average of Net Credit Losses ****
|
-
|
|||||||
|
Credit Losses as of the end of the 2nd preceding period
|
Units
|
Dollar Amount
|
||||||
|
Gross Credit Losses
|
0
|
-
|
||||||
|
Recoveries
|
0
|
-
|
||||||
|
Net Credit Losses
|
-
|
|||||||
|
Cumulative Net Credit Losses
|
0
|
$
|
-
|
|||||
|
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.00
|
%
|
||||||
|
Charge Off Rate ***
|
0.00
|
%
|
||||||
|
Average of Net Credit Losses ****
|
-
|
|||||||
|
Credit Losses as of the end of the 3rd preceding period
|
Units
|
Dollar Amount
|
||||||
|
Gross Credit Losses
|
0
|
-
|
||||||
|
Recoveries
|
0
|
-
|
||||||
|
Net Credit Losses
|
-
|
|||||||
|
Cumulative Net Credit Losses
|
0
|
$
|
-
|
|||||
|
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.00
|
%
|
||||||
|
Charge Off Rate ***
|
0.00
|
%
|
||||||
|
Average of Net Credit Losses ****
|
-
|
|||||||
|
* 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.
|