|
Collection Period Ending: 9/30/2026
|
|||||
|
Previous Payment Date: 9/25/2026
|
Accrued Interest Days (30/360):
|
30
|
|||
|
Current Payment Date: 10/26/2026
|
Accrued Interest Days (act/360):
|
31
|
|||
|
Balances
|
||||||||||||
|
Initial
|
Beginning of Period
|
End of Period
|
||||||||||
|
Aggregate Securitization Value
|
$
|
1,439,263,270.92
|
$
|
985,393,298.95
|
$
|
943,194,270.06
|
||||||
|
Aggregate Discounted ALG Residual Value
|
$
|
824,008,695.55
|
$
|
704,454,850.33
|
$
|
685,851,841.26
|
||||||
|
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
|
118,071,640.57
|
88,527,910.83
|
|||||||||
|
Class A-2b Notes
|
143,500,000.00
|
50,576,956.48
|
37,921,657.33
|
|||||||||
|
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
|
$
|
760,148,597.05
|
$
|
717,949,568.16
|
|||||||
|
Overcollateralization
|
$
|
189,263,270.92
|
$
|
225,244,701.90
|
||||||||
|
Current Collection Period
|
||||
|
Beginning Securitization Value
|
$
|
985,393,298.95
|
||
|
PrincipalReduction Amount
|
42,199,028.89
|
|||
|
Ending Securitization Value
|
$
|
943,194,270.06
|
||
|
First Priority Principal
|
||||
|
Aggregate Outstanding Note Balance (Beginning of Period)
|
$
|
760,148,597.05
|
||
|
Aggregate Securitization Value (End of Period)
|
$
|
943,194,270.06
|
||
|
First Priority Principal Distribution Amount
|
$
|
-
|
||
|
Target Note Balance
|
$
|
717,949,568.16
|
||
|
Target Overcollateralization Amount
|
$
|
225,244,701.90
|
||
|
Target Overcollateralization Percentage
|
15.65
|
%
|
||
|
Determination of Available Funds
|
||||
|
Collections
|
||||
|
Monthly Payments (net of Daily Advance Reimbursements)*
|
$
|
22,605,445.98
|
||
|
Reallocation Payment
|
190,000.91
|
|||
|
Sale Proceeds
|
2,860,992.25
|
|||
|
Termination Proceed
|
27,457,457.47
|
|||
|
Recovery Proceeds
|
11,402.92
|
|||
|
Total Collections
|
$
|
53,125,299.53
|
||
|
Advances
|
||||
|
Monthly Payment Advance
|
$
|
1,521,275.70
|
||
|
Sales Proceeds Advance
|
-
|
|||
|
Total Advances
|
$
|
1,521,275.70
|
||
|
Optional Purchase Price
|
0.00
|
|||
|
Net Investment Earnings on SUBI Collection Account
|
-
|
|||
|
Total Available Funds
|
$
|
54,646,575.23
|
||
|
Collection Account
|
||||
|
Total Available Funds
|
$
|
54,646,575.23
|
||
|
Withdrawals from SUBI Collection Account
|
||||
|
Payment Date Advance Reimbursement
|
1,457,648.91
|
|||
|
Servicing Fees
|
821,161.08
|
|||
|
Note Distribution Account (Interest Due)
|
2,524,419.87
|
|||
|
Note Distribution Account (First Priority Principal Distribution Amount)
|
-
|
|||
|
Reserve Fund Deposit
|
-
|
|||
|
Note Distribution Account (Regular Principal Distribution Amount)
|
42,199,028.89
|
|||
|
Amounts paid to Indenture Trustee, Owner Trustee and Asset Representations Reviewer (subject to annual cap)
|
5,000.00
|
|||
|
Amounts paid to Indenture Trustee, Owner Trustee and Asset Representations Reviewer ( not subject to annual cap)
|
-
|
|||
|
Certificate Distribution Account (any remaining payments)
|
7,639,316.48
|
|||
|
Total Distributions from SUBI Collection Account
|
$
|
54,646,575.23
|
||
|
Servicer Advance Amounts
|
||||
|
Beginning Period Unreimbursed Servicer Advance
|
$
|
1,719,739.79
|
||
|
Current Period Monthly Payment Advance
|
1,521,275.70
|
|||
|
Current Period Sales Proceeds Advance
|
-
|
|||
|
Current Reimbursement of Previous Servicer Advance
|
1,457,648.91
|
|||
|
Ending Period Unreimbursed Previous Servicer Advances
|
$
|
1,783,366.58
|
||
|
Note Distribution Account
|
||||
|
Amount Deposited from the Collection Account
|
$
|
44,723,448.76
|
||
|
Amount Deposited from the Reserve Fund
|
-
|
|||
|
Amount Paid to Noteholders
|
$
|
44,723,448.76
|
||
|
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:
|
$
|
5,000.00
|
||
|
Amount due and payable to Asset Representations Reviewer after giving effect to payments on current Payment Date:
|
$
|
-
|
||
|
Distributions
|
||||||||||||||||||||||||
|
Priority Principal
|
||||||||||||||||||||||||
|
Aggregate Outstanding Note Principal
|
$
|
760,148,597.05
|
||||||||||||||||||||||
|
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
|
-
|
29,543,729.74
|
29,543,729.74
|
88,527,910.83
|
88
|
0.26
|
||||||||||||||||||
|
Class A-2b Notes
|
-
|
12,655,299.15
|
12,655,299.15
|
37,921,657.33
|
88
|
0.26
|
||||||||||||||||||
|
Class A-3 Notes
|
-
|
-
|
-
|
478,500,000.00
|
-
|
1.00
|
||||||||||||||||||
|
Class A-4 Notes
|
-
|
-
|
-
|
113,000,000.00
|
-
|
1.00
|
||||||||||||||||||
|
$
|
-
|
$
|
42,199,028.89
|
$
|
42,199,028.89
|
$
|
717,949,568.16
|
|||||||||||||||||
|
Interest Distributable Amount
|
Interest Rate
|
Current Payment
|
Per $1,000
|
|||||||||||||||||||||
|
Class A-1 Notes
|
4.07900
|
%
|
$
|
-
|
0.00
|
|||||||||||||||||||
|
Class A-2a Notes
|
3.94000
|
%
|
$
|
387,668.55
|
1.16
|
|||||||||||||||||||
|
Class A-2b Notes
|
4.00029
|
%
|
$
|
174,222.15
|
1.21
|
|||||||||||||||||||
|
Class A-3 Notes
|
3.97000
|
%
|
$
|
1,583,037.50
|
3.31
|
|||||||||||||||||||
|
Class A-4 Notes
|
4.03000
|
%
|
$
|
379,491.67
|
3.36
|
|||||||||||||||||||
|
$
|
2,524,419.87
|
|||||||||||||||||||||||
|
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
|
10,332.92
|
|||
|
Reserve Fund Draw Amount
|
-
|
|||
|
Release to Certificateholder
|
10,332.92
|
|||
|
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
|
21,215
|
||||||||||
|
Weighted Average Remaining Term
|
25.00
|
13.66
|
||||||||||
|
Weighted Average Original Term
|
36.00
|
36.10
|
||||||||||
|
Weighted Average Seasoning
|
11.00
|
22.45
|
||||||||||
|
Units
|
Securitization Value
|
|||||||||||
|
Early Terminations
|
225
|
$
|
9,985,532.92
|
|||||||||
|
Scheduled Terminations
|
474
|
$
|
17,360,863.58
|
|||||||||
|
Residual Value Losses for the Current Period
|
Beginning
|
Current Period
|
Cumulative
|
|||||||||
|
Sales and Termination Proceeds
|
$
|
256,028,720.27
|
$
|
28,972,257.16
|
$
|
285,000,977.43
|
||||||
|
ALG Residual Values
|
197,360,437.70
|
24,516,497.15
|
221,876,934.85
|
|||||||||
|
Residual Value Loss / (Gain)
|
$
|
(4,455,760.01
|
)
|
$
|
(63,124,042.58
|
)
|
||||||
|
Cumulative Residual Value Loss / (Gain) as of the end of the prior period
|
$
|
(58,668,282.57
|
)
|
|||||||||
|
Cumulative Residual Value Loss / (Gain) as of the end of the 2nd preceding period
|
$
|
(53,825,838.02
|
)
|
|||||||||
|
Cumulative Residual Value Loss / (Gain) as of the end of the 3rd preceding period
|
$
|
(48,847,413.64
|
)
|
|||||||||
|
Delinquencies as of the end of the current period
|
Units
|
Securitization Value
|
Percentage
|
|||||||||
|
31-60 Days Delinquent
|
67
|
$ |
3,586,638.82
|
0.38
|
%
|
|||||||
|
61-90 Days Delinquen
|
26
|
1,298,846.16
|
0.14
|
%
|
||||||||
|
91-120 Days Delinquent
|
10
|
553,456.18
|
0.06
|
%
|
||||||||
|
121 - 150 Days Delinquent
|
6
|
265,146.91
|
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
|
109
|
|
5,704,088.07
|
0.60
|
%
|
|||||||
|
Total 60+ Days Past Due as of the end of the current period
|
42
|
|
2,117,449.24
|
0.22
|
%
|
|||||||
|
Delinquencies as of the end of prior periods
|
||||||||||||
|
Total 30+ Days Past Due as of the end of the prior period
|
0.61
|
%
|
||||||||||
|
Total 30+ Days Past Due as of the end of the 2nd preceding period
|
0.58
|
%
|
||||||||||
|
Total 30+ Days Past Due as of the end of the 3rd preceding period
|
0.58
|
%
|
||||||||||
|
Credit Losses as of the end of the current period
|
Units
|
Dollar Amount
|
||||||||||
|
Gross Credit Losses
|
5
|
$ |
66,983.34
|
|||||||||
|
Recoveries
|
2
|
2,058.22
|
||||||||||
|
Net Credit Losses
|
64,925.12
|
|||||||||||
|
Cumulative Net Credit Losses
|
46
|
|
647,332.73
|
|||||||||
|
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.07
|
%
|
||||||||||
|
Charge Off Rate ***
|
0.04
|
%
|
||||||||||
|
Average of Net Credit Losses ***
|
$
|
14,072.45
|
||||||||||
|
Historical Loss Information
|
||||||||
|
Credit Losses as of the end of the prior period
|
Units
|
Dollar Amount
|
||||||
|
Gross Credit Losses
|
4
|
$ |
50,595.53
|
|||||
|
Recoveries
|
6
|
57,949.86
|
||||||
|
Net Credit Losses
|
(7,354.33
|
)
|
||||||
|
Cumulative Net Credit Losses
|
41
|
$
|
582,407.61
|
|||||
|
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.06
|
%
|
||||||
|
Charge Off Rate ***
|
0.04
|
%
|
||||||
|
Average of Net Credit Losses ****
|
14,205.06
|
|||||||
|
Credit Losses as of the end of the 2nd preceding 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
|
|||||||
|
Credit Losses as of the end of the 3rd preceding 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
|
|||||||
|
* 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.
|