|
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
|
$
|
1,554,404,326.97
|
$
|
1,057,396,687.74
|
$
|
1,016,385,155.24
|
||||||
|
Aggregate Discounted ALG Residual Value
|
$
|
839,064,918.99
|
$
|
753,580,678.11
|
$
|
739,461,100.61
|
||||||
|
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
|
123,378,363.40
|
95,288,272.65
|
|||||||||
|
Class A-2b Notes
|
161,000,000.00
|
56,754,047.17
|
43,832,605.42
|
|||||||||
|
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
|
$
|
814,132,410.57
|
$
|
773,120,878.07
|
|||||||
|
Overcollateralization
|
$
|
204,404,326.97
|
$
|
243,264,277.17
|
||||||||
|
Current Collection Period
|
||||
|
Beginning Securitization Value
|
$
|
1,057,396,687.74
|
||
|
PrincipalReduction Amount
|
41,011,532.50
|
|||
|
Ending Securitization Value
|
$
|
1,016,385,155.24
|
||
|
First Priority Principal
|
||||
|
Aggregate Outstanding Note Balance (Beginning of Period)
|
$
|
814,132,410.57
|
||
|
Aggregate Securitization Value (End of Period)
|
$
|
1,016,385,155.24
|
||
|
First Priority Principal Distribution Amount
|
$
|
-
|
||
|
Target Note Balance
|
$
|
773,120,878.07
|
||
|
Target Overcollateralization Amount
|
$
|
243,264,277.17
|
||
|
Target Overcollateralization Percentage
|
15.65
|
%
|
||
|
Determination of Available Funds
|
||||
|
Collections
|
||||
|
Monthly Payments (net of Daily Advance Reimbursements)*
|
$
|
25,840,362.14
|
||
|
Reallocation Payment
|
264,502.04
|
|||
|
Sale Proceeds
|
2,283,348.22
|
|||
|
Termination Proceed
|
25,465,378.34
|
|||
|
Recovery Proceeds
|
17,640.27
|
|||
|
Total Collections
|
$
|
53,871,231.01
|
||
|
Advances
|
||||
|
Monthly Payment Advance
|
$
|
1,543,545.02
|
||
|
Sales Proceeds Advance
|
-
|
|||
|
Total Advances
|
$
|
1,543,545.02
|
||
|
Optional Purchase Price
|
0.00
|
|||
|
Net Investment Earnings on SUBI Collection Account
|
-
|
|||
|
Total Available Funds
|
$
|
55,414,776.03
|
||
|
Collection Account
|
||||
|
Total Available Funds
|
$
|
55,414,776.03
|
||
|
Withdrawals from SUBI Collection Account
|
||||
|
Payment Date Advance Reimbursement
|
1,774,258.02
|
|||
|
Servicing Fees
|
881,163.91
|
|||
|
Note Distribution Account (Interest Due)
|
2,985,290.58
|
|||
|
Note Distribution Account (First Priority Principal Distribution Amount)
|
-
|
|||
|
Reserve Fund Deposit
|
-
|
|||
|
Note Distribution Account (Regular Principal Distribution Amount)
|
41,011,532.50
|
|||
|
Amounts paid to Indenture Trustee, Owner Trustee and Asset Representations Reviewer (subject to annual cap)
|
6,000.00
|
|||
|
Amounts paid to Indenture Trustee, Owner Trustee and Asset Representations Reviewer ( not subject to annual cap)
|
-
|
|||
|
Certificate Distribution Account (any remaining payments)
|
8,756,531.02
|
|||
|
Total Distributions from SUBI Collection Account
|
$
|
55,414,776.03
|
||
|
Servicer Advance Amounts
|
||||
|
Beginning Period Unreimbursed Servicer Advance
|
$
|
2,007,514.04
|
||
|
Current Period Monthly Payment Advance
|
1,543,545.02
|
|||
|
Current Period Sales Proceeds Advance
|
-
|
|||
|
Current Reimbursement of Previous Servicer Advance
|
1,774,258.02
|
|||
|
Ending Period Unreimbursed Previous Servicer Advances
|
$
|
1,776,801.04
|
||
|
Note Distribution Account
|
||||
|
Amount Deposited from the Collection Account
|
$
|
43,996,823.08
|
||
|
Amount Deposited from the Reserve Fund
|
-
|
|||
|
Amount Paid to Noteholders
|
$
|
43,996,823.08
|
||
|
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:
|
$
|
3,000.00
|
||
|
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:
|
$
|
3,000.00
|
||
|
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
|
$
|
814,132,410.57
|
||||||||||||||||||||||
|
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
|
-
|
28,090,090.75
|
28,090,090.75
|
95,288,272.65
|
80
|
0.27
|
||||||||||||||||||
|
Class A-2b Notes
|
-
|
12,921,441.75
|
12,921,441.75
|
43,832,605.42
|
80
|
0.27
|
||||||||||||||||||
|
Class A-3 Notes
|
-
|
-
|
-
|
511,000,000.00
|
-
|
1.00
|
||||||||||||||||||
|
Class A-4 Notes
|
-
|
-
|
-
|
123,000,000.00
|
-
|
1.00
|
||||||||||||||||||
|
$
|
-
|
$
|
41,011,532.50
|
$
|
41,011,532.50
|
$
|
773,120,878.07
|
|||||||||||||||||
|
Interest Distributable Amount
|
Interest Rate
|
Current Payment
|
Per $1,000
|
|||||||||||||||||||||
|
Class A-1 Notes
|
4.46000
|
%
|
$
|
-
|
0.00
|
|||||||||||||||||||
|
Class A-2a Notes
|
4.43000
|
%
|
$
|
455,471.79
|
1.30
|
|||||||||||||||||||
|
Class A-2b Notes
|
4.00608
|
%
|
$
|
183,152.12
|
1.14
|
|||||||||||||||||||
|
Class A-3 Notes
|
4.43000
|
%
|
$
|
1,886,441.67
|
3.69
|
|||||||||||||||||||
|
Class A-4 Notes
|
4.49000
|
%
|
$
|
460,225.00
|
3.74
|
|||||||||||||||||||
|
$
|
2,985,290.58
|
|||||||||||||||||||||||
|
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
|
11,529.88
|
|||
|
Reserve Fund Draw Amount
|
-
|
|||
|
Release to Certificateholder
|
11,529.88
|
|||
|
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
|
23,909
|
||||||||||
|
Weighted Average Remaining Term
|
26.00
|
13.01
|
||||||||||
|
Weighted Average Original Term
|
36.00
|
35.94
|
||||||||||
|
Weighted Average Seasoning
|
10.00
|
22.93
|
||||||||||
|
Units
|
Securitization Value
|
|||||||||||
|
Early Terminations
|
330
|
$
|
13,164,881.57
|
|||||||||
|
Scheduled Terminations
|
303
|
$
|
10,631,267.46
|
|||||||||
|
Residual Value Losses for the Current Period
|
Beginning
|
Current Period
|
Cumulative
|
|||||||||
|
Sales and Termination Proceeds
|
$
|
249,142,944.43
|
$
|
26,074,116.69
|
$
|
275,217,061.12
|
||||||
|
ALG Residual Values
|
188,581,862.10
|
20,890,980.40
|
209,472,842.50
|
|||||||||
|
Residual Value Loss / (Gain)
|
$
|
(5,183,136.29
|
)
|
$
|
(65,744,218.62
|
)
|
||||||
|
Cumulative Residual Value Loss / (Gain) as of the end of the prior period
|
$
|
(60,561,082.33
|
)
|
|||||||||
|
Cumulative Residual Value Loss / (Gain) as of the end of the 2nd preceding period
|
$
|
(55,199,180.23
|
)
|
|||||||||
|
Cumulative Residual Value Loss / (Gain) as of the end of the 3rd preceding period
|
$
|
(50,772,843.67
|
)
|
|||||||||
|
Delinquencies as of the end of the current period
|
Units
|
Securitization Value
|
Percentage
|
|||||||||
|
31-60 Days Delinquent
|
88
|
$ |
3,883,067.57
|
0.38
|
%
|
|||||||
|
61-90 Days Delinquen
|
31
|
1,393,092.22
|
0.14
|
%
|
||||||||
|
91-120 Days Delinquent
|
6
|
254,830.64
|
0.03
|
%
|
||||||||
|
121 - 150 Days Delinquent
|
3
|
124,049.99
|
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
|
128
|
|
5,655,040.43
|
0.56
|
%
|
|||||||
|
Total 60+ Days Past Due as of the end of the current period
|
40
|
|
1,771,972.86
|
0.17
|
%
|
|||||||
|
Delinquencies as of the end of prior periods
|
||||||||||||
|
Total 30+ Days Past Due as of the end of the prior period
|
0.51
|
%
|
||||||||||
|
Total 30+ Days Past Due as of the end of the 2nd preceding period
|
0.48
|
%
|
||||||||||
|
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
|
5
|
$ |
72,623.35
|
|||||||||
|
Recoveries
|
1
|
214.07
|
||||||||||
|
Net Credit Losses
|
72,409.28
|
|||||||||||
|
Cumulative Net Credit Losses
|
44
|
|
365,334.03
|
|||||||||
|
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.04
|
%
|
||||||||||
|
Charge Off Rate ***
|
0.02
|
%
|
||||||||||
|
Average of Net Credit Losses ***
|
$
|
8,303.05
|
||||||||||
|
Historical Loss Information
|
||||||||
|
Credit Losses as of the end of the prior period
|
Units
|
Dollar Amount
|
||||||
|
Gross Credit Losses
|
5
|
$ |
27,781.97
|
|||||
|
Recoveries
|
4
|
4,499.46
|
||||||
|
Net Credit Losses
|
23,282.51
|
|||||||
|
Cumulative Net Credit Losses
|
39
|
$
|
292,924.75
|
|||||
|
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.03
|
%
|
||||||
|
Charge Off Rate ***
|
0.02
|
%
|
||||||
|
Average of Net Credit Losses ****
|
7,510.89
|
|||||||
|
Credit Losses as of the end of the 2nd preceding 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
|
|||||||
|
Credit Losses as of the end of the 3rd preceding 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
|
|||||||
|
* 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.
|
||||||||