|
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
|
$
|
1,439,263,270.92
|
$
|
1,068,943,224.96
|
$
|
1,027,966,761.73
|
||||||
|
Aggregate Discounted ALG Residual Value
|
$
|
824,008,695.55
|
$
|
738,236,323.28
|
$
|
722,836,945.99
|
||||||
|
Reserve Fund
|
$
|
3,598,158.18
|
$
|
3,598,158.18
|
$
|
3,598,158.18
|
||||||
|
Notes
|
||||||||||||
|
Class A-1 Notes
|
$
|
180,000,000.00
|
$
|
-
|
$
|
-
|
||||||
|
Class A-2a Notes
|
335,000,000.00
|
176,565,319.18
|
147,877,513.16
|
|||||||||
|
Class A-2b Notes
|
143,500,000.00
|
75,633,203.88
|
63,344,546.67
|
|||||||||
|
Class A-3 Notes
|
478,500,000.00
|
478,500,000.00
|
478,500,000.00
|
|||||||||
|
Class A-4 Notes
|
113,000,000.00
|
113,000,000.00
|
113,000,000.00
|
|||||||||
|
$
|
1,250,000,000.00
|
$
|
843,698,523.06
|
$
|
802,722,059.83
|
|||||||
|
Overcollateralization
|
$
|
189,263,270.92
|
$
|
225,244,701.90
|
||||||||
|
Current Collection Period
|
||||
|
Beginning Securitization Value
|
$
|
1,068,943,224.96
|
||
|
PrincipalReduction Amount
|
40,976,463.23
|
|||
|
Ending Securitization Value
|
$
|
1,027,966,761.73
|
||
|
First Priority Principal
|
||||
|
Aggregate Outstanding Note Balance (Beginning of Period)
|
$
|
843,698,523.06
|
||
|
Aggregate Securitization Value (End of Period)
|
$
|
1,027,966,761.73
|
||
|
First Priority Principal Distribution Amount
|
$
|
-
|
||
|
Target Note Balance
|
$
|
802,722,059.83
|
||
|
Target Overcollateralization Amount
|
$
|
225,244,701.90
|
||
|
Target Overcollateralization Percentage
|
15.65
|
%
|
||
|
Determination of Available Funds
|
||||
|
Collections
|
||||
|
Monthly Payments (net of Daily Advance Reimbursements)*
|
$
|
24,804,764.63
|
||
|
Reallocation Payment
|
462,477.67
|
|||
|
Sale Proceeds
|
2,929,907.70
|
|||
|
Termination Proceed
|
25,083,929.43
|
|||
|
Recovery Proceeds
|
33,851.02
|
|||
|
Total Collections
|
$
|
53,314,930.45
|
||
|
Advances
|
||||
|
Monthly Payment Advance
|
$
|
1,418,734.14
|
||
|
Sales Proceeds Advance
|
-
|
|||
|
Total Advances
|
$
|
1,418,734.14
|
||
|
Optional Purchase Price
|
0.00
|
|||
|
Net Investment Earnings on SUBI Collection Account
|
-
|
|||
|
Total Available Funds
|
$
|
54,733,664.59
|
||
|
Collection Account
|
||||
|
Total Available Funds
|
$
|
54,733,664.59
|
||
|
Withdrawals from SUBI Collection Account
|
||||
|
Payment Date Advance Reimbursement
|
1,732,920.34
|
|||
|
Servicing Fees
|
890,786.02
|
|||
|
Note Distribution Account (Interest Due)
|
2,781,455.26
|
|||
|
Note Distribution Account (First Priority Principal Distribution Amount)
|
-
|
|||
|
Reserve Fund Deposit
|
-
|
|||
|
Note Distribution Account (Regular Principal Distribution Amount)
|
40,976,463.23
|
|||
|
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)
|
8,352,039.74
|
|||
|
Total Distributions from SUBI Collection Account
|
$
|
54,733,664.59
|
||
|
Servicer Advance Amounts
|
||||
|
Beginning Period Unreimbursed Servicer Advance
|
$
|
1,937,854.57
|
||
|
Current Period Monthly Payment Advance
|
1,418,734.14
|
|||
|
Current Period Sales Proceeds Advance
|
-
|
|||
|
Current Reimbursement of Previous Servicer Advance
|
1,732,920.34
|
|||
|
Ending Period Unreimbursed Previous Servicer Advances
|
$
|
1,623,668.37
|
||
|
Note Distribution Account
|
||||
|
Amount Deposited from the Collection Account
|
$
|
43,757,918.49
|
||
|
Amount Deposited from the Reserve Fund
|
-
|
|||
|
Amount Paid to Noteholders
|
$
|
43,757,918.49
|
||
|
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
|
$
|
843,698,523.06
|
||||||||||||||||||||||
|
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
|
-
|
28,687,806.02
|
28,687,806.02
|
147,877,513.16
|
86
|
0.44
|
||||||||||||||||||
|
Class A-2b Notes
|
-
|
12,288,657.21
|
12,288,657.21
|
63,344,546.67
|
86
|
0.44
|
||||||||||||||||||
|
Class A-3 Notes
|
-
|
-
|
-
|
478,500,000.00
|
-
|
1.00
|
||||||||||||||||||
|
Class A-4 Notes
|
-
|
-
|
-
|
113,000,000.00
|
-
|
1.00
|
||||||||||||||||||
|
$
|
-
|
$
|
40,976,463.23
|
$
|
40,976,463.23
|
$
|
802,722,059.83
|
|||||||||||||||||
|
Interest Distributable Amount
|
Interest Rate
|
Current Payment
|
Per $1,000
|
|||||||||||||||||||||
|
Class A-1 Notes
|
4.07900
|
%
|
$
|
-
|
0.00
|
|||||||||||||||||||
|
Class A-2a Notes
|
3.94000
|
%
|
$
|
579,722.80
|
1.73
|
|||||||||||||||||||
|
Class A-2b Notes
|
3.92608
|
%
|
$
|
239,203.29
|
1.67
|
|||||||||||||||||||
|
Class A-3 Notes
|
3.97000
|
%
|
$
|
1,583,037.50
|
3.31
|
|||||||||||||||||||
|
Class A-4 Notes
|
4.03000
|
%
|
$
|
379,491.67
|
3.36
|
|||||||||||||||||||
|
$
|
2,781,455.26
|
|||||||||||||||||||||||
|
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
|
$
|
3,598,158.18
|
||
|
Beginning Period Amount
|
3,598,158.18
|
|||
|
Current Period Deposit
|
-
|
|||
|
Net Investment Earnings
|
10,675.81
|
|||
|
Reserve Fund Draw Amount
|
-
|
|||
|
Release to Certificateholder
|
10,675.81
|
|||
|
Ending Period Required Amount
|
3,598,158.18
|
|||
|
Ending Period Amount
|
$
|
3,598,158.18
|
||
|
Pool Characteristics
|
||||||||||||
|
Initial
|
End of Period
|
|||||||||||
|
Number of Specified Leases
|
28,028
|
22,672
|
||||||||||
|
Weighted Average Remaining Term
|
25.00
|
15.17
|
||||||||||
|
Weighted Average Original Term
|
36.00
|
36.09
|
||||||||||
|
Weighted Average Seasoning
|
11.00
|
20.93
|
||||||||||
|
Units
|
Securitization Value
|
|||||||||||
|
Early Terminations
|
250
|
$
|
11,178,476.21
|
|||||||||
|
Scheduled Terminations
|
373
|
$
|
13,235,966.64
|
|||||||||
|
Residual Value Losses for the Current Period
|
Beginning
|
Current Period
|
Cumulative
|
|||||||||
|
Sales and Termination Proceeds
|
$
|
200,817,326.84
|
$
|
26,225,795.18
|
$
|
227,043,122.02
|
||||||
|
ALG Residual Values
|
151,969,913.20
|
21,247,370.80
|
173,217,284.00
|
|||||||||
|
Residual Value Loss / (Gain)
|
$
|
(4,978,424.38
|
)
|
$
|
(53,825,838.02
|
)
|
||||||
|
Cumulative Residual Value Loss / (Gain) as of the end of the prior period
|
$
|
(48,847,413.64
|
)
|
|||||||||
|
Cumulative Residual Value Loss / (Gain) as of the end of the 2nd preceding period
|
$
|
(43,437,185.86
|
)
|
|||||||||
|
Cumulative Residual Value Loss / (Gain) as of the end of the 3rd preceding period
|
$
|
(37,935,085.17
|
)
|
|||||||||
|
Delinquencies as of the end of the current period
|
Units
|
Securitization Value
|
Percentage
|
|||||||||
|
31-60 Days Delinquent
|
70
|
$ |
3,876,665.84
|
0.38
|
%
|
|||||||
|
61-90 Days Delinquen
|
30
|
1,383,500.47
|
0.13
|
%
|
||||||||
|
91-120 Days Delinquent
|
10
|
474,303.97
|
0.05
|
%
|
||||||||
|
121 - 150 Days Delinquent
|
5
|
259,524.17
|
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
|
115
|
|
5,993,994.45
|
0.58
|
%
|
|||||||
|
Total 60+ Days Past Due as of the end of the current period
|
45
|
|
2,117,328.61
|
0.21
|
%
|
|||||||
|
Delinquencies as of the end of prior periods
|
||||||||||||
|
Total 30+ Days Past Due as of the end of the prior period
|
0.58
|
%
|
||||||||||
|
Total 30+ Days Past Due as of the end of the 2nd preceding period
|
0.54
|
%
|
||||||||||
|
Total 30+ Days Past Due as of the end of the 3rd preceding period
|
0.54
|
%
|
||||||||||
|
Credit Losses as of the end of the current period
|
Units
|
Dollar Amount
|
||||||||||
|
Gross Credit Losses
|
7
|
$ |
164,301.67
|
|||||||||
|
Recoveries
|
10
|
27,543.92
|
||||||||||
|
Net Credit Losses
|
136,757.75
|
|||||||||||
|
Cumulative Net Credit Losses
|
37
|
|
589,761.94
|
|||||||||
|
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.06
|
%
|
||||||||||
|
Charge Off Rate ***
|
0.04
|
%
|
||||||||||
|
Average of Net Credit Losses ***
|
$
|
15,939.51
|
||||||||||
|
Historical Loss Information
|
||||||||
|
Credit Losses as of the end of the prior period
|
Units
|
Dollar Amount
|
||||||
|
Gross Credit Losses
|
2
|
$ |
52,407.64
|
|||||
|
Recoveries
|
3
|
2,704.31
|
||||||
|
Net Credit Losses
|
49,703.33
|
|||||||
|
Cumulative Net Credit Losses
|
30
|
$
|
453,004.19
|
|||||
|
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.04
|
%
|
||||||
|
Charge Off Rate ***
|
0.03
|
%
|
||||||
|
Average of Net Credit Losses ****
|
15,100.14
|
|||||||
|
Credit Losses as of the end of the 2nd preceding period
|
Units
|
Dollar Amount
|
||||||
|
Gross Credit Losses
|
3
|
$ |
56,940.46
|
|||||
|
Recoveries
|
6
|
5,547.30
|
||||||
|
Net Credit Losses
|
51,393.16
|
|||||||
|
Cumulative Net Credit Losses
|
28
|
$
|
403,300.86
|
|||||
|
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.04
|
%
|
||||||
|
Charge Off Rate ***
|
0.03
|
%
|
||||||
|
Average of Net Credit Losses ****
|
14,403.60
|
|||||||
|
Credit Losses as of the end of the 3rd preceding period
|
Units
|
Dollar Amount
|
||||||
|
Gross Credit Losses
|
7
|
$ |
102,852.58
|
|||||
|
Recoveries
|
3
|
1,144.42
|
||||||
|
Net Credit Losses
|
101,708.16
|
|||||||
|
Cumulative Net Credit Losses
|
25
|
$
|
351,907.70
|
|||||
|
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.03
|
%
|
||||||
|
Charge Off Rate ***
|
0.02
|
%
|
||||||
|
Average of Net Credit Losses ****
|
14,076.31
|
|||||||
|
* 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.
|