EX-99.1 2 w73621bexv99w1.htm EXHIBIT 99.1 exv99w1
EXHIBIT C
MONTHLY NOTEHOLDER’S STATEMENT
ADVANTA BANK CORP.
ADVANTA BUSINESS CARD MASTER TRUST
ADVANTASERIES
PERIOD ENDING MAY 31, 2009
Capitalized terms used in this notice have their respective meanings set forth in the Master Indenture as amended and as supplemented by the AdvantaSeries Indenture Supplement, the Transfer and Servicing Agreement as amended or the Trust Agreement as amended. References to certain sections and subsections are references to the respective sections and subsections of the Master Indenture as amended and as supplemented by the AdvantaSeries Indenture Supplement.
The information which is required to be prepared with respect to the Payment Date of June 22, 2009 and with respect to the performance of the Trust during the Monthly Period of May 1, 2009 through May 31, 2009 is set forth below.
The Interest Period for all Tranches generally includes the previous Payment Date (or in the case of the first Interest Payment Date, the Closing Date) through and including the day preceding the current Payment Date. Interest on floating rate Tranches is calculated on the basis of 360-day year and the actual number of days in the related Interest Period. Interest on fixed rate Tranches is calculated on the basis of a 360-day year and twelve 30-day months.
The Record Date with respect to the current Payment Date is June 19, 2009.
The Determination Date with respect to the current calendar month is June 10, 2009.
The documents mentioned above may be found in the following Securities and Exchange Commission (“SEC”) filings.
     
Master Indenture, dated as of August 1, 2000.
 
Included in Exhibit 4.1 to the Form 8-K filed with the SEC on August 30, 2000 by Advanta Business Receivables Corp.
 
    
Amendment No. 1 to the Master Indenture, dated as of May 9, 2006.
 
Included in Exhibit 4.1 to the Form 8-K filed with the SEC on May 19, 2006 by Advanta Business Receivables Corp.
 
    
Adjustment of the Enhancement Levels
 
Included in the Form 8-K filed with the SEC on February 12, 2007 by Advanta Business Receivables Corp.
 
    
Adjustment of the Enhancement Levels
 
Included in the Form 8-K filed with the SEC on May 25, 2007 by Advanta Business Receivables Corp.
 
    
AdvantaSeries Indenture Supplement, dated as of November 1, 2004.
 
Included in Exhibit 4.1 to the Form 8-K filed with the SEC on November 12, 2004 by Advanta Business Receivables Corp.
 
    
Transfer and Servicing Agreement (“TSA”), dated as of August 1, 2000.
 
Included in Exhibit 4.3 to the Form 8-K filed with the SEC on August 30, 2000 by Advanta Business Receivables Corp.
 
    
Amendment No. 1 to the TSA, dated as of May 9, 2006.
 
Included in Exhibit 4.3 to the Form 8-K filed with the SEC on May 19, 2006 by Advanta Business Receivables Corp.
 
    
Trust Agreement, dated as of August 1, 2000.
 
Included in Exhibit 4.4 to the Form 8-K filed with the SEC on August 30, 2000 by Advanta Business Receivables Corp.
 
    
Amendment No. 1 to the Trust Agreement, dated as of May 9, 2006.
 
Included in Exhibit 4.2 to the Form 8-K filed with the SEC on May 19, 2006 by Advanta Business Receivables Corp.
I. Information regarding the current monthly principal distribution to the Noteholders
                     
        Total amount of principal to    
    CUSIP Number   be paid   Per $1,000
2005-A2
   00761H BK 6   $ 26,222,374.94       116.543889  
2006-A3
   00761H BS 9   $ 29,135,972.16       116.543889  
2006-A4
   00761H BT 7   $ 34,963,166.59       116.543889  
2006-A5
   00761H BV 2   $ 23,308,777.73       116.543889  
2006-A6
   00761H BW 0   $ 29,135,972.16       116.543889  
2006-A7
   00761H BX 8   $ 23,308,777.73       116.543889  
2007-A1
   00761H BZ 3   $ 23,308,777.73       116.543889  
2007-A2
   00761H CK 5   $ 26,222,374.94       116.543889  
2007-A3
   00761H CL 3   $ 23,308,777.73       116.543889  
2007-A4
   00761H CM 1   $ 23,308,777.73       116.543889  
2007-A5
   00761H CP 4   $ 46,617,555.44       116.543889  
2008-A3
   00761H CV1   $ 17,481,583.29       116.543889  
II. Information regarding the current monthly interest distribution to the Noteholders
                     
    CUSIP Number   Total amount of interest to be
paid		   Per $1,000
2005-A2
   00761H BK 6   $ 92,039.06       0.40906249  
2006-A3
   00761H BS 9   $ 1,104,166.67       4.41666668  
2006-A4
   00761H BT 7   $ 100,718.75       0.33572917  
2006-A5
   00761H BV 2   $ 850,000.00       4.25000000  
2006-A6
   00761H BW 0   $ 79,348.96       0.31739584  
2006-A7
   00761H BX 8   $ 61,645.83       0.30822915  
2007-A1
   00761H BZ 3   $ 67,145.83       0.33572915  
2007-A2
   00761H CK 5   $ 937,500.00       4.16666667  
2007-A3
   00761H CL 3   $ 68,979.17       0.34489585  
2007-A4
   00761H CM 1   $ 63,479.17       0.31739585  
2007-A5
   00761H CP 4   $ 299,291.67       0.74822918  
2008-A3
   00761H CV1   $ 249,734.38       1.66489587  
2005-B1
   00761H BH 3   $ 63,822.92       0.63822920  
2006-B1
       $ 59,239.58       0.59239580  
2006-B2
   00761H BU 4   $ 64,882.81       0.51906248  
2007-B1
   00761H CA 7   $ 51,906.25       0.51906250  
2007-B2
   00761H CN 9   $ 458,333.33       4.58333330  
2004-C1
   00761H BG 5   $ 125,239.58       1.25239580  
2006-C1
   00761H BY 6   $ 102,185.42       0.72989586  
2004-D1
   00761H CC 3   $ 48,732.29       4.87322900  
2006-D1
   00761H CF 6   $ 37,348.44       2.48989600  
2006-D2
   00761H CG 4   $ 58,809.90       2.35239600  
2006-D3
   00761H CH 2   $ 63,696.88       2.12322933  
2007-D1
   00761H CB 5   $ 39,330.73       1.57322920  

 

 

III. Information regarding the performance of the Advanta Business Card Master Trust
         
1. The aggregate amount of such Collections with respect to Principal Receivables for the Monthly Period preceding such Payment Date
   $ 846,222,691.25  
 
      
 
        
2. The aggregate amount of such Collections with respect to Finance Charge and Administrative Receivables for the Monthly Period preceding such Payment Date
   $ 82,921,022.80  
 
      
 
        
2a. Interchange for the Monthly Period preceding such Payment Date (included in the amount shown above on line item III. 2.)
   $ 17,848,187.33  
 
      
 
        
2b. Recoveries for the Monthly Period preceding such Payment Date (included in the amount shown above on line item III. 2.)
   $ 2,103,728.60  
 
      
 
        
3. The Defaulted Amount for the Monthly Period preceding such Payment Date
   $ 92,149,211.60  
 
      
 
        
4. The annualized percentage equivalent of a fraction, the numerator of which is the Defaulted Amount less Recoveries for the preceding Monthly Period, and the denominator is the average Receivables for the preceding Monthly Period
     23.94 %
 
      
 
        
5. The total amount of Principal Receivables in the Trust at the beginning of the preceding Monthly Period
   $ 4,431,011,650.61  
 
      
 
        
6. The total amount of Principal Receivables in the Trust as of the last day of the preceding Monthly Period
   $ 4,372,630,982.58  
 
      
 
        
7. The total amount of Finance Charge and Administrative Receivables in the Trust at the beginning of the preceding Monthly Period
   $ 116,206,883.44  
 
      
 
        
8. The total amount of Finance Charge and Administrative Receivables in the Trust as of the last day of the preceding Monthly Period
   $ 105,881,474.06  
 
      
 
        
9. The aggregated Adjusted Invested Amounts of all Series of Notes outstanding as of the last day of the preceding Monthly Period
   $ 3,670,000,000.00  
 
      
 
        
10. The Transferor Interest as of the end of the Monthly Period preceding such Payment Date
   $ 702,630,982.58  
 
      
 
        
11. The average Transferor Interest for the immediately preceding 30 consecutive calendar days as of the end of the Monthly Period preceding such Payment Date
   $ 636,241,553.19  
 
      
 
        
12. The transferor percentage as of the end of the Monthly Period preceding such Payment Date
     16.07 %
 
      
 
        
13. The Required Transferor Percentage
     6.00 %
 
      
 
        
14. The Required Transferor Interest
   $ 262,357,858.95  
 
      
 
        
15. The Required Minimum Principal Balance as of the end of the Monthly Period preceding such Payment Date
   $ 3,670,000,000.00  
 
      
 
        
16. The monthly principal payment rate for the Monthly Period preceding such Payment Date
     19.10 %
 
      
 
        
17. The ending balance in the Excess Funding Account with respect to the preceding Monthly Period
   $ —  
 
      
 
        
18. The aggregate outstanding balance of the Accounts which were delinquent as of the end of the Monthly Period preceding such Payment Date:
        
                 
    Percentage of Total        
    Receivables     Aggregate Account Balance  
(a) Delinquent between 30 days and 59 days
     2.71 %   $ 121,527,887.64  
(b) Delinquent between 60 days and 89 days
     2.24 %   $ 100,536,132.83  
(c) Delinquent between 90 days and 119 days
     2.12 %   $ 94,818,245.00  
(d) Delinquent between 120 days and 149 days
     1.75 %   $ 78,213,715.70  
(e) Delinquent between 150 days and 179 days
     1.82 %   $ 81,451,586.81  
(f) Delinquent 180 days or greater
     0.00 %   $ —  
 
            
(g) Aggregate
     10.64 %   $ 476,547,567.98  
 
            

 

 

IV. Information regarding the AdvantaSeries
1. AdvantaSeries balances and amounts as of the end of the Monthly Period preceding such Payment Date (Adjusted Outstanding Principal Balance reported as of the related Payment Date)
                                         
                    Adjusted Outstanding              
    Initial Principal     Outstanding Principal     Principal Balance as of     Invested     Adjusted Invested  
    Balance     Balance     the related Payment Date     Amount     Amount  
2005-A2
   $ 225,000,000.00     $ 225,000,000.00     $ 198,777,625.06     $ 225,000,000.00     $ 225,000,000.00  
2006-A3
   $ 250,000,000.00     $ 250,000,000.00     $ 220,864,027.84     $ 250,000,000.00     $ 250,000,000.00  
2006-A4
   $ 300,000,000.00     $ 300,000,000.00     $ 265,036,833.41     $ 300,000,000.00     $ 300,000,000.00  
2006-A5
   $ 200,000,000.00     $ 200,000,000.00     $ 176,691,222.27     $ 200,000,000.00     $ 200,000,000.00  
2006-A6
   $ 250,000,000.00     $ 250,000,000.00     $ 220,864,027.84     $ 250,000,000.00     $ 250,000,000.00  
2006-A7
   $ 200,000,000.00     $ 200,000,000.00     $ 176,691,222.27     $ 200,000,000.00     $ 200,000,000.00  
2007-A1
   $ 200,000,000.00     $ 200,000,000.00     $ 176,691,222.27     $ 200,000,000.00     $ 200,000,000.00  
2007-A2
   $ 225,000,000.00     $ 225,000,000.00     $ 198,777,625.06     $ 225,000,000.00     $ 225,000,000.00  
2007-A3
   $ 200,000,000.00     $ 200,000,000.00     $ 176,691,222.27     $ 200,000,000.00     $ 200,000,000.00  
2007-A4
   $ 200,000,000.00     $ 200,000,000.00     $ 176,691,222.27     $ 200,000,000.00     $ 200,000,000.00  
2007-A5
   $ 400,000,000.00     $ 400,000,000.00     $ 353,382,444.56     $ 400,000,000.00     $ 400,000,000.00  
2008-A3
   $ 150,000,000.00     $ 150,000,000.00     $ 132,518,416.71     $ 150,000,000.00     $ 150,000,000.00  
 
                              
Total Class A
   $ 2,800,000,000.00     $ 2,800,000,000.00     $ 2,473,677,111.83     $ 2,800,000,000.00     $ 2,800,000,000.00  
 
                                        
2005-B1
   $ 100,000,000.00     $ 100,000,000.00     $ 100,000,000.00     $ 100,000,000.00     $ 100,000,000.00  
2006-B1
   $ 100,000,000.00     $ 100,000,000.00     $ 100,000,000.00     $ 100,000,000.00     $ 100,000,000.00  
2006-B2
   $ 125,000,000.00     $ 125,000,000.00     $ 125,000,000.00     $ 125,000,000.00     $ 125,000,000.00  
2007-B1
   $ 100,000,000.00     $ 100,000,000.00     $ 100,000,000.00     $ 100,000,000.00     $ 100,000,000.00  
2007-B2
   $ 100,000,000.00     $ 100,000,000.00     $ 100,000,000.00     $ 100,000,000.00     $ 100,000,000.00  
 
                              
Total Class B
   $ 525,000,000.00     $ 525,000,000.00     $ 525,000,000.00     $ 525,000,000.00     $ 525,000,000.00  
 
                                        
2004-C1
   $ 100,000,000.00     $ 100,000,000.00     $ 100,000,000.00     $ 100,000,000.00     $ 100,000,000.00  
2006-C1
   $ 140,000,000.00     $ 140,000,000.00     $ 140,000,000.00     $ 140,000,000.00     $ 140,000,000.00  
 
                              
Total Class C
   $ 240,000,000.00     $ 240,000,000.00     $ 240,000,000.00     $ 240,000,000.00     $ 240,000,000.00  
 
                                        
2004-D1
   $ 10,000,000.00     $ 10,000,000.00     $ 10,000,000.00     $ 10,000,000.00     $ 10,000,000.00  
2006-D1
   $ 15,000,000.00     $ 15,000,000.00     $ 15,000,000.00     $ 15,000,000.00     $ 15,000,000.00  
2006-D2
   $ 25,000,000.00     $ 25,000,000.00     $ 25,000,000.00     $ 25,000,000.00     $ 25,000,000.00  
2006-D3
   $ 30,000,000.00     $ 30,000,000.00     $ 30,000,000.00     $ 30,000,000.00     $ 30,000,000.00  
2007-D1
   $ 25,000,000.00     $ 25,000,000.00     $ 25,000,000.00     $ 25,000,000.00     $ 25,000,000.00  
 
                              
Total Class D
   $ 105,000,000.00     $ 105,000,000.00     $ 105,000,000.00     $ 105,000,000.00     $ 105,000,000.00  
 
                              
 
                                        
Total AdvantaSeries
   $ 3,670,000,000.00     $ 3,670,000,000.00     $ 3,343,677,111.83     $ 3,670,000,000.00     $ 3,670,000,000.00  
 
                              
                 
2. Weighted Average Floating Allocation Amount for the related Monthly Period
           $ 3,670,000,000.00  
 
              
 
                
3. The Floating Investor Percentage with respect to the period:
               
 
                
May 1, 2009 through May 31, 2009
             82.8253295 %
 
              
 
                
4. The Fixed Investor Percentage with respect to the period:
               
 
                
May 1, 2009 through May 31, 2009
             82.8253295 %
 
              
 
                
5a. The aggregate AdvantaSeries Principal Allocation for the related Monthly Period
           $ 700,886,732.33  
 
              
 
                
5b. The AdvantaSeries Investor Principal Collections for the related Monthly Period
           $ 250,000,000.00  
 
              
 
                
6a. The amount of Available Finance Charge Collections on deposit in the Collection Account for the related Monthly Period
           $ 68,790,303.12  
 
              
 
                
6b. The amount of interest on funds on deposit in the Collection Account included in the amount shown above on line item 6a.
           $ 110,692.72  
 
              
 
                
6c. The amount of interest on funds on deposit in the Excess Funding Account included in the amount shown above on line item 6a.
           $ —  
 
              
 
                
6d. Pursuant to Section 8.04(a) of the Master Indenture, the amount of Available Finance Charge Collections not on deposit in the Collection Account for the related Monthly Period
           $ —  
 
              
 
                
7. The AdvantaSeries Defaulted Amount for the related Monthly Period
           $ 76,322,888.17  
 
              
 
                
8. The AdvantaSeries Monthly Servicing Fee for the related Monthly Period
           $ 6,116,666.67  
 
              

 

 

                 
9. AdvantaSeries performance for the related Monthly Period
                
 
                
a. The cash yield for the related Monthly Period
             22.50 %
 
              
 
                
b. The default rate for the related Monthly Period
             24.96 %
 
              
 
                
c. The Net Portfolio Yield for the related Monthly Period
             -2.46 %
 
              
 
                
d. The Base Rate for the related Monthly Period
             3.63 %
 
              
 
                
e. The Excess Spread Percentage for the related Monthly Period
             -6.09 %
 
              
 
                
f. The Quarterly Excess Spread Percentage
             -1.74 %
 
              
 
                
i) Excess Spread Percentage related to
   May-09     -6.09 %
 
              
 
                
ii) Excess Spread Percentage related to
   Apr-09     -0.46 %
 
              
 
                
iii) Excess Spread Percentage related to
   Mar-09     1.34 %
 
              
 
                
g. The average Excess Spread Amount for the three preceding Monthly Periods
           $ (5,339,424.39 )
 
              
 
                
i) Excess Spread Amount related to
   May-09   $ (18,796,829.34 )
 
              
 
                
ii) Excess Spread Amount related to
   Apr-09   $ (1,487,349.28 )
 
              
 
                
iii) Excess Spread Amount related to
   Mar-09   $ 4,265,905.46  
 
              
 
                
10. Floating interest rate determinations:
                
 
                
LIBOR for all Tranches with an Interest Period from May 20, 2009 through and including June 21, 2009
             0.31625 %
 
              
11. Required interest payments
                                 
                    Amounts withdrawn from the        
    Required interest amounts     Interest shortfalls and     Collection Account for        
    with respect to the current     additional     payment of required interest     Unpaid required interest  
    Interest Period     interest from prior periods     amounts     amounts  
2005-A2
   $ 92,039.06     $ —     $ 92,039.06     $ —  
2006-A3
   $ 1,104,166.67     $ —     $ 1,104,166.67     $ —  
2006-A4
   $ 100,718.75     $ —     $ 100,718.75     $ —  
2006-A5
   $ 850,000.00     $ —     $ 850,000.00     $ —  
2006-A6
   $ 79,348.96     $ —     $ 79,348.96     $ —  
2006-A7
   $ 61,645.83     $ —     $ 61,645.83     $ —  
2007-A1
   $ 67,145.83     $ —     $ 67,145.83     $ —  
2007-A2
   $ 937,500.00     $ —     $ 937,500.00     $ —  
2007-A3
   $ 68,979.17     $ —     $ 68,979.17     $ —  
2007-A4
   $ 63,479.17     $ —     $ 63,479.17     $ —  
2007-A5
   $ 299,291.67     $ —     $ 299,291.67     $ —  
2008-A3
   $ 249,734.38     $ —     $ 249,734.38     $ —  
 
                        
Total Class A
   $ 3,974,049.49     $ —     $ 3,974,049.49     $ —  
 
                                
2005-B1
   $ 63,822.92     $ —     $ 63,822.92     $ —  
2006-B1
   $ 59,239.58     $ —     $ 59,239.58     $ —  
2006-B2
   $ 64,882.81     $ —     $ 64,882.81     $ —  
2007-B1
   $ 51,906.25     $ —     $ 51,906.25     $ —  
2007-B2
   $ 458,333.33     $ —     $ 458,333.33     $ —  
 
                        
Total Class B
   $ 698,184.89     $ —     $ 698,184.89     $ —  
 
                                
2004-C1
   $ 125,239.58     $ —     $ 125,239.58     $ —  
2006-C1
   $ 102,185.42     $ —     $ 102,185.42     $ —  
 
                        
Total Class C
   $ 227,425.00     $ —     $ 227,425.00     $ —  
 
                                
2004-D1
   $ 48,732.29     $ —     $ 48,732.29     $ —  
2006-D1
   $ 37,348.44     $ —     $ 37,348.44     $ —  
2006-D2
   $ 58,809.90     $ —     $ 58,809.90     $ —  
2006-D3
   $ 63,696.88     $ —     $ 63,696.88     $ —  
2007-D1
   $ 39,330.73     $ —     $ 39,330.73     $ —  
 
                        
Total Class D
   $ 247,918.24     $ —     $ 247,918.24     $ —  
 
                        
 
                                
Total AdvantaSeries
   $ 5,147,577.62     $ —     $ 5,147,577.62     $ —  
 
                        

 

 

12. Principal Funding Account as of the related Payment Date
                                                 
    Beginning     Required Principal     Actual Deposit     Amount Withdrawn     Withdrawals     Ending  
    Principal Funding     Deposit Amount to     to the Principal     for Payment     of Coverage     Principal Funding  
    Sub-Account     the Principal Funding     Funding     of Principal to     Funding Excess     Sub-Account  
    Amount     Sub-Account     Sub-Account     Noteholders     Amount     Amount  
2005-A2
   $  —     $ 225,000,000.00     $ 26,222,374.94     $ 26,222,374.94     $  —     $  —  
2006-A3
   $  —     $ 250,000,000.00     $ 29,135,972.16     $ 29,135,972.16     $  —     $  —  
2006-A4
   $  —     $ 300,000,000.00     $ 34,963,166.59     $ 34,963,166.59     $  —     $  —  
2006-A5
   $  —     $ 200,000,000.00     $ 23,308,777.73     $ 23,308,777.73     $  —     $  —  
2006-A6
   $  —     $ 250,000,000.00     $ 29,135,972.16     $ 29,135,972.16     $  —     $  —  
2006-A7
   $  —     $ 200,000,000.00     $ 23,308,777.73     $ 23,308,777.73     $  —     $  —  
2007-A1
   $  —     $ 200,000,000.00     $ 23,308,777.73     $ 23,308,777.73     $  —     $  —  
2007-A2
   $  —     $ 225,000,000.00     $ 26,222,374.94     $ 26,222,374.94     $  —     $  —  
2007-A3
   $  —     $ 200,000,000.00     $ 23,308,777.73     $ 23,308,777.73     $  —     $  —  
2007-A4
   $  —     $ 200,000,000.00     $ 23,308,777.73     $ 23,308,777.73     $  —     $  —  
2007-A5
   $  —     $ 400,000,000.00     $ 46,617,555.44     $ 46,617,555.44     $  —     $  —  
2008-A3
   $  —     $ 150,000,000.00     $ 17,481,583.29     $ 17,481,583.29     $  —     $  —  
2005-B1
   $  —     $ 100,000,000.00     $ —     $ —     $  —     $  —  
2006-B1
   $  —     $ 100,000,000.00     $ —     $ —     $  —     $  —  
2006-B2
   $  —     $ 125,000,000.00     $ —     $ —     $  —     $  —  
2007-B1
   $  —     $ 100,000,000.00     $ —     $ —     $  —     $  —  
2007-B2
   $  —     $ 100,000,000.00     $ —     $ —     $  —     $  —  
2004-C1
   $  —     $ 100,000,000.00     $ —     $ —     $  —     $  —  
2006-C1
   $  —     $ 140,000,000.00     $ —     $ —     $  —     $  —  
2004-D1
   $  —     $ 10,000,000.00     $ —     $ —     $  —     $  —  
2006-D1
   $  —     $ 15,000,000.00     $ —     $ —     $  —     $  —  
2006-D2
   $  —     $ 25,000,000.00     $ —     $ —     $  —     $  —  
2006-D3
   $  —     $ 30,000,000.00     $ —     $ —     $  —     $  —  
2007-D1
   $  —     $ 25,000,000.00     $ —     $ —     $  —     $  —  
     
Total AdvantaSeries
   $  —     $ 3,670,000,000.00     $ 326,322,888.17     $ 326,322,888.17     $  —     $  —  
     
         
13. Coverage Funding Required Amounts
        
 
        
a. Coverage Funding Amount as of the end of the related Monthly Period
   $ —  
 
      
 
        
b. The Coverage Funding Amount for the Class A Notes as of the end of the related Monthly Period
   $ —  
 
      
 
        
c. The Coverage Funding Amount for the Class B Notes as of the end of the related Monthly Period
   $ —  
 
      
 
        
d. The Coverage Funding Amount for the Class C Notes as of the end of the related Monthly Period
   $ —  
 
      
 
        
14. Cash Collateral Account
        
 
        
a. Beginning Cash Collateral Account balance (ending balance as of the previous Payment Date)
   $ 51,300,000.00  
 
      
 
        
b. Deposit into the Cash Collateral Account on the Closing Date of Tranches issued on or prior to the Payment Date
   $ —  
 
      
 
        
c. Interest earnings since the preceding Payment Date
   $ 16,374.97  
 
      
 
        
d. Amounts deposited to cover a Cash Collateral Account Deficit
   $ —  
 
      
 
        
e. PFA Earnings Shortfall withdrawn and treated as Available Finance Charge Collections
   $ —  
 
      
 
        
f. Amounts withdrawn to cover interest payments and Monthly Servicing Fee
   $ —  
 
      
 
        
g. Amounts withdrawn to cover AdvantaSeries Defaulted Amount
   $ 10,431,600.72  
 
      
 
        
h. Amounts withdrawn at the date of issuance of a Foreclosure Certificate or at the Final Maturity Date of a Tranche
   $ —  
 
      
 
        
i. Excess amount over the Required Cash Collateral Account Amount paid to the holder of the Trust Beneficial Interest
   $ —  
 
      
 
        
j. Ending Cash Collateral Account balance on the related Payment Date
   $ 40,884,774.25  
 
      
 
        
k. The Required Cash Collateral Account Amount on the related Payment Date
   $ 51,300,000.00  
 
      
 
        
l. The Available Cash Collateral Account Amount on the related Payment Date
   $ 40,884,774.25  
 
      
 
        
m. Has a Portfolio Decline Event occurred with respect to the Monthly Period preceding such Payment Date
   YES
 
      
 
        
15. Spread Account
        
 
        
a. Beginning Spread Account balance (ending balance as of the previous Payment Date)
   $ 8,362,394.48  
 
      
 
        
b. On the Closing Date for a Tranche, the initial deposit into the Spread Account
   $ —  
 
      
 
        
c. Interest earnings since the preceding Payment Date
   $ 2,834.14  
 
      
 
        
d. Amount deposited from Available Finance Charge Collections to cover the excess of the Required Spread Account Amount over the Spread Account balance
   $ —  
 
      
 
        
e. Amounts withdrawn to cover interest payments and Monthly Servicing Fee
   $ —  
 
      
 
        
f. Amounts withdrawn to cover AdvantaSeries Defaulted Amount
   $ 8,365,228.62  
 
      
 
        
g. Amounts withdrawn at the date of issuance of a Foreclosure Certificate or at the Final Maturity Date of a Tranche
   $ —  
 
      
 
        
h. Withdrawal of excess amount over the Required Spread Account Amount and deposited into the Cash Collateral Account
   $ —  
 
      
 
        
i. Withdrawal of excess amount over the Required Spread Account Amount and paid to the holder of the Trust Beneficial Interest
   $ —  
 
      
 
        
j. Ending Spread Account balance on the related Payment Date
   $ —  
 
      
 
        
k. The Required Spread Account Amount on the related Payment Date
   $ 614,725,000.00  
 
      
 
        
16. Required Subordinated Amounts as of the end of the Monthly Period preceding such Payment Date
        
                                 
                            Excess of Subordinated
    Required subordination                   Notes over Required
    percentage   Required Subordinated Amount   Subordinated Notes   Subordinated Amount
Class A
     18.3432 %   $ 467,751,600     $ 870,000,000     $ 402,248,400  
Class B
     7.5269 %   $ 231,452,175     $ 345,000,000     $ 113,547,825  
Class C
     2.5641 %   $ 84,999,915     $ 105,000,000     $ 20,000,085  

 

 

17. Adjusted Invested Amount as of the related Payment Date.
                                                 
                            Increase from              
                            reimbursements of Adjusted              
                            Invested Amount Deficits              
            Initial Principal Balances     Increase from the withdrawal of     and reductions due to              
    Beginning Adjusted     and any increases from     the Coverage Funding Excess     reallocation of Available     Reduction due to amounts     Ending Adjusted Invested  
    Invested Amount for the     the issuance of any     Amount from the Principal     Principal Collections and     deposited into the Principal     Amount for the related  
    related Payment Date     additional Notes     Funding Sub-Account     Investor Charge-Offs     Funding Sub-Account     Payment Date  
2005-A2
   $ 225,000,000.00     $ —     $ —     $ —     $ 26,222,374.94     $ 198,777,625.06  
2006-A3
   $ 250,000,000.00     $ —     $ —     $ —     $ 29,135,972.16     $ 220,864,027.84  
2006-A4
   $ 300,000,000.00     $ —     $ —     $ —     $ 34,963,166.59     $ 265,036,833.41  
2006-A5
   $ 200,000,000.00     $ —     $ —     $ —     $ 23,308,777.73     $ 176,691,222.27  
2006-A6
   $ 250,000,000.00     $ —     $ —     $ —     $ 29,135,972.16     $ 220,864,027.84  
2006-A7
   $ 200,000,000.00     $ —     $ —     $ —     $ 23,308,777.73     $ 176,691,222.27  
2007-A1
   $ 200,000,000.00     $ —     $ —     $ —     $ 23,308,777.73     $ 176,691,222.27  
2007-A2
   $ 225,000,000.00     $ —     $ —     $ —     $ 26,222,374.94     $ 198,777,625.06  
2007-A3
   $ 200,000,000.00     $ —     $ —     $ —     $ 23,308,777.73     $ 176,691,222.27  
2007-A4
   $ 200,000,000.00     $ —     $ —     $ —     $ 23,308,777.73     $ 176,691,222.27  
2007-A5
   $ 400,000,000.00     $ —     $ —     $ —     $ 46,617,555.44     $ 353,382,444.56  
2008-A3
   $ 150,000,000.00     $ —     $ —     $ —     $ 17,481,583.29     $ 132,518,416.71  
 
                                    
Total Class A
   $ 2,800,000,000.00     $ —     $ —     $ —     $ 326,322,888.17     $ 2,473,677,111.83  
 
                                                
2005-B1
   $ 100,000,000.00     $ —     $ —     $ —     $ —     $ 100,000,000.00  
2006-B1
   $ 100,000,000.00     $ —     $ —     $ —     $ —     $ 100,000,000.00  
2006-B2
   $ 125,000,000.00     $ —     $ —     $ —     $ —     $ 125,000,000.00  
2007-B1
   $ 100,000,000.00     $ —     $ —     $ —     $ —     $ 100,000,000.00  
2007-B2
   $ 100,000,000.00     $ —     $ —     $ —     $ —     $ 100,000,000.00  
 
                                    
Total Class B
   $ 525,000,000.00     $ —     $ —     $ —     $ —     $ 525,000,000.00  
 
                                                
2004-C1
   $ 100,000,000.00     $ —     $ —     $ —     $ —     $ 100,000,000.00  
2006-C1
   $ 140,000,000.00     $ —     $ —     $ —     $ —     $ 140,000,000.00  
 
                                    
Total Class C
   $ 240,000,000.00     $ —     $ —     $ —     $ —     $ 240,000,000.00  
 
                                                
2004-D1
   $ 10,000,000.00     $ —     $ —     $ —     $ —     $ 10,000,000.00  
2006-D1
   $ 15,000,000.00     $ —     $ —     $ —     $ —     $ 15,000,000.00  
2006-D2
   $ 25,000,000.00     $ —     $ —     $ —     $ —     $ 25,000,000.00  
2006-D3
   $ 30,000,000.00     $ —     $ —     $ —     $ —     $ 30,000,000.00  
2007-D1
   $ 25,000,000.00     $ —     $ —     $ —     $ —     $ 25,000,000.00  
 
                                    
Total Class D
   $ 105,000,000.00     $ —     $ —     $ —     $ —     $ 105,000,000.00  
 
                                    
 
                                                
Total AdvantaSeries
   $ 3,670,000,000.00     $ —     $ —     $ —     $ 326,322,888.17     $ 3,343,677,111.83  
 
                                    
             
    Advanta Bank Corp.
as Servicer		    
 
            
 
  By:   /s/ DAVID B. WEINSTOCK
 
    
 
  Name:   David B. Weinstock    
 
  Title:   Vice President