|
Collection Period Ending: 7/31/2026
|
|||||
|
Previous Payment Date: 7/27/2026
|
Accrued Interest Days (30/360):
|
30
|
|||
|
Current Payment Date: 8/25/2026
|
Accrued Interest Days (act/360):
|
29
|
|||
|
Balances
|
||||||||||||
|
Initial
|
Beginning of Period
|
End of Period
|
||||||||||
|
Aggregate Securitization Value
|
$
|
1,468,860,401.91
|
$
|
686,019,719.14
|
$
|
640,045,458.31
|
||||||
|
Aggregate Discounted ALG Residual Value
|
$
|
756,051,186.48
|
$
|
551,922,410.87
|
$
|
526,181,106.25
|
||||||
|
Reserve Fund
|
$
|
3,672,151.00
|
$
|
3,672,151.00
|
$
|
3,672,151.00
|
||||||
|
Notes
|
||||||||||||
|
Class A-1 Notes
|
$
|
195,200,000.00
|
$
|
-
|
$
|
-
|
||||||
|
Class A-2a Notes
|
231,200,000.00
|
-
|
-
|
|||||||||
|
Class A-2b Notes
|
231,200,000.00
|
-
|
-
|
|||||||||
|
Class A-3 Notes
|
462,400,000.00
|
300,438,009.21
|
254,463,748.38
|
|||||||||
|
Class A-4 Notes
|
130,000,000.00
|
130,000,000.00
|
130,000,000.00
|
|||||||||
|
$
|
1,250,000,000.00
|
$
|
430,438,009.21
|
$
|
384,463,748.38
|
|||||||
|
Overcollateralization
|
$
|
218,860,401.91
|
$
|
255,581,709.93
|
||||||||
|
Current Collection Period
|
||||
|
Beginning Securitization Value
|
$
|
686,019,719.14
|
||
|
PrincipalReduction Amount
|
45,974,260.83
|
|||
|
Ending Securitization Value
|
$
|
640,045,458.31
|
||
|
First Priority Principal
|
||||
|
Aggregate Outstanding Note Balance (Beginning of Period)
|
$
|
430,438,009.21
|
||
|
Aggregate Securitization Value (End of Period)
|
$
|
640,045,458.31
|
||
|
First Priority Principal Distribution Amount
|
$
|
-
|
||
|
Target Note Balance
|
$
|
384,463,748.38
|
||
|
Target Overcollateralization Amount
|
$
|
255,581,709.93
|
||
|
Target Overcollateralization Percentage
|
17.40
|
%
|
||
|
Determination of Available Funds
|
||||
|
Collections
|
||||
|
Monthly Payments (net of Daily Advance Reimbursements)*
|
$
|
18,688,775.37
|
||
|
Reallocation Payment
|
236,706.56
|
|||
|
Sale Proceeds
|
3,144,501.07
|
|||
|
Termination Proceed
|
32,845,944.38
|
|||
|
Recovery Proceeds
|
15,724.67
|
|||
|
Total Collections
|
$
|
54,931,652.05
|
||
|
Advances
|
||||
|
Monthly Payment Advance
|
$
|
1,301,618.76
|
||
|
Sales Proceeds Advance
|
-
|
|||
|
Total Advances
|
$
|
1,301,618.76
|
||
|
Optional Purchase Price
|
0.00
|
|||
|
Net Investment Earnings on SUBI Collection Account
|
-
|
|||
|
Total Available Funds
|
$
|
56,233,270.81
|
||
|
Collection Account
|
||||
|
Total Available Funds
|
$
|
56,233,270.81
|
||
|
Withdrawals from SUBI Collection Account
|
||||
|
Payment Date Advance Reimbursement
|
1,499,651.62
|
|||
|
Servicing Fees
|
571,683.10
|
|||
|
Note Distribution Account (Interest Due)
|
1,502,609.06
|
|||
|
Note Distribution Account (First Priority Principal Distribution Amount)
|
-
|
|||
|
Reserve Fund Deposit
|
-
|
|||
|
Note Distribution Account (Regular Principal Distribution Amount)
|
45,974,260.83
|
|||
|
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)
|
6,685,066.20
|
|||
|
Total Distributions from SUBI Collection Account
|
$
|
56,233,270.81
|
||
|
Servicer Advance Amounts
|
||||
|
Beginning Period Unreimbursed Servicer Advance
|
$
|
1,718,831.99
|
||
|
Current Period Monthly Payment Advance
|
1,301,618.76
|
|||
|
Current Period Sales Proceeds Advance
|
-
|
|||
|
Current Reimbursement of Previous Servicer Advance
|
1,499,651.62
|
|||
|
Ending Period Unreimbursed Previous Servicer Advances
|
$
|
1,520,799.13
|
||
|
Note Distribution Account
|
||||
|
Amount Deposited from the Collection Account
|
$
|
47,476,869.89
|
||
|
Amount Deposited from the Reserve Fund
|
-
|
|||
|
Amount Paid to Noteholders
|
$
|
47,476,869.89
|
||
|
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
|
$
|
430,438,009.21
|
||||||||||||||||||||||
|
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
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
|
Class A-2b Notes
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
|
Class A-3 Notes
|
-
|
45,974,260.83
|
45,974,260.83
|
254,463,748.38
|
99
|
0.55
|
||||||||||||||||||
|
Class A-4 Notes
|
-
|
-
|
-
|
130,000,000.00
|
-
|
1.00
|
||||||||||||||||||
|
$
|
-
|
$
|
45,974,260.83
|
$
|
45,974,260.83
|
$
|
384,463,748.38
|
|||||||||||||||||
|
Interest Distributable Amount
|
Interest Rate
|
Current Payment
|
Per $1,000
|
|||||||||||||||||||||
|
Class A-1 Notes
|
4.68100
|
%
|
$
|
-
|
0.00
|
|||||||||||||||||||
|
Class A-2a Notes
|
4.29000
|
%
|
$
|
-
|
0.00
|
|||||||||||||||||||
|
Class A-2b Notes
|
4.03608
|
%
|
$
|
-
|
0.00
|
|||||||||||||||||||
|
Class A-3 Notes
|
4.18000
|
%
|
$
|
1,046,525.73
|
2.26
|
|||||||||||||||||||
|
Class A-4 Notes
|
4.21000
|
%
|
$
|
456,083.33
|
3.51
|
|||||||||||||||||||
|
$
|
1,502,609.06
|
|||||||||||||||||||||||
|
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
|
$
|
3,672,151.00
|
||
|
Beginning Period Amount
|
3,672,151.00
|
|||
|
Current Period Deposit
|
-
|
|||
|
Net Investment Earnings
|
10,895.35
|
|||
|
Reserve Fund Draw Amount
|
-
|
|||
|
Release to Certificateholder
|
10,895.35
|
|||
|
Ending Period Required Amount
|
3,672,151.00
|
|||
|
Ending Period Amount
|
$
|
3,672,151.00
|
||
|
Pool Characteristics
|
||||||||||||
|
Initial
|
End of Period
|
|||||||||||
|
Number of Specified Leases
|
26,514
|
15,027
|
||||||||||
|
Weighted Average Remaining Term
|
28.00
|
7.66
|
||||||||||
|
Weighted Average Original Term
|
36.00
|
35.99
|
||||||||||
|
Weighted Average Seasoning
|
8.00
|
28.33
|
||||||||||
|
Units
|
Securitization Value
|
|||||||||||
|
Early Terminations
|
291
|
$
|
12,008,085.82
|
|||||||||
|
Scheduled Terminations
|
615
|
$
|
22,518,597.57
|
|||||||||
|
Residual Value Losses for the Current Period
|
Beginning
|
Current Period
|
Cumulative
|
|||||||||
|
Sales and Termination Proceeds
|
$
|
431,701,762.38
|
$
|
34,630,113.68
|
$
|
466,331,876.06
|
||||||
|
ALG Residual Values
|
345,416,247.70
|
30,744,945.20
|
376,161,192.90
|
|||||||||
|
Residual Value Loss / (Gain)
|
$
|
(3,885,168.48
|
)
|
$
|
(90,170,683.16
|
)
|
||||||
|
Cumulative Residual Value Loss / (Gain) as of the end of the prior period
|
$
|
(86,285,514.68
|
)
|
|||||||||
|
Cumulative Residual Value Loss / (Gain) as of the end of the 2nd preceding period
|
$
|
(81,492,875.33
|
)
|
|||||||||
|
Cumulative Residual Value Loss / (Gain) as of the end of the 3rd preceding period
|
$
|
(76,563,491.06
|
)
|
|||||||||
|
Delinquencies as of the end of the current period
|
Units
|
Securitization Value
|
Percentage
|
|||||||||
|
31-60 Days Delinquent
|
84
|
$ |
3,621,932.59
|
0.57
|
%
|
|||||||
|
61-90 Days Delinquen
|
39
|
1,562,071.70
|
0.24
|
%
|
||||||||
|
91-120 Days Delinquent
|
9
|
412,600.81
|
0.06
|
%
|
||||||||
|
121 - 150 Days Delinquent
|
4
|
187,006.73
|
0.03
|
%
|
||||||||
|
151 Days or More Delinquent
|
0
|
0.00
|
0.00
|
%
|
||||||||
|
Total 30+ Days Past Due as of the end of the current period
|
136
|
|
5,783,611.82
|
0.90
|
%
|
|||||||
|
Total 60+ Days Past Due as of the end of the current period
|
52
|
|
2,161,679.24
|
0.34
|
%
|
|||||||
|
Delinquencies as of the end of prior periods
|
||||||||||||
|
Total 30+ Days Past Due as of the end of the prior period
|
0.88
|
%
|
||||||||||
|
Total 30+ Days Past Due as of the end of the 2nd preceding period
|
0.93
|
%
|
||||||||||
|
Total 30+ Days Past Due as of the end of the 3rd preceding period
|
0.93
|
%
|
||||||||||
|
Credit Losses as of the end of the current period
|
Units
|
Dollar Amount
|
||||||||||
|
Gross Credit Losses
|
3
|
$ |
19,396.42
|
|||||||||
|
Recoveries
|
2
|
11,109.05
|
||||||||||
|
Net Credit Losses
|
8,287.37
|
|||||||||||
|
Cumulative Net Credit Losses
|
101
|
|
917,080.28
|
|||||||||
|
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.14
|
%
|
||||||||||
|
Charge Off Rate ***
|
0.06
|
%
|
||||||||||
|
Average of Net Credit Losses ***
|
$
|
9,080.00
|
||||||||||
|
Historical Loss Information
|
||||||||
|
Credit Losses as of the end of the prior period
|
Units
|
Dollar Amount
|
||||||
|
Gross Credit Losses
|
5
|
$ |
48,000.23
|
|||||
|
Recoveries
|
5
|
7,971.24
|
||||||
|
Net Credit Losses
|
40,028.99
|
|||||||
|
Cumulative Net Credit Losses
|
98
|
$
|
908,792.91
|
|||||
|
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.13
|
%
|
||||||
|
Charge Off Rate ***
|
0.06
|
%
|
||||||
|
Average of Net Credit Losses ****
|
9,273.40
|
|||||||
|
Credit Losses as of the end of the 2nd preceding period
|
Units
|
Dollar Amount
|
||||||
|
Gross Credit Losses
|
5
|
$ |
17,357.02
|
|||||
|
Recoveries
|
8
|
8,936.34
|
||||||
|
Net Credit Losses
|
8,420.68
|
|||||||
|
Cumulative Net Credit Losses
|
93
|
$
|
868,763.92
|
|||||
|
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.12
|
%
|
||||||
|
Charge Off Rate ***
|
0.06
|
%
|
||||||
|
Average of Net Credit Losses ****
|
9,341.55
|
|||||||
|
Credit Losses as of the end of the 3rd preceding period
|
Units
|
Dollar Amount
|
||||||
|
Gross Credit Losses
|
4
|
$ |
28,539.94
|
|||||
|
Recoveries
|
2
|
301.16
|
||||||
|
Net Credit Losses
|
28,238.78
|
|||||||
|
Cumulative Net Credit Losses
|
88
|
$
|
860,343.24
|
|||||
|
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.11
|
%
|
||||||
|
Charge Off Rate ***
|
0.06
|
%
|
||||||
|
Average of Net Credit Losses ****
|
9,776.63
|
|||||||
|
* 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.
|