EX-20.1 2 nalt05a0206ex20_1.htm EXHIBIT 20.1 SETTLEMENT STATEMENT FOR THE MONTH ENDED FEBRUARY 28, 2006 Exhibit 20.1 Settlement Statement for the month ended February 28, 2006
Exhibit 20.1
Nissan Auto Lease Trust 2005-A
Settlement Statement for the month ended February 28, 2006
 

Collection Period Start
 
1-Feb-06
 
Distribution Date
 
15-Mar-06
 
Collection Period End
 
28-Feb-06
 
30/360 Days
 
30
 
Beg. of Interest Period
 
15-Feb-06
 
Actual/360 Days
 
28
 
End of Interest Period
 
15-Mar-06
         
 
SUMMARY
                               
 
   
Coupon Rate 
   
Initial Balance
   
Beginning Balance
   
Ending Balance
   
Pool Factor
 
Total Portfolio
         
1,550,442,391.02
   
1,440,706,653.40
   
1,409,995,076.78
   
0.9094147
 
Total Securities
         
1,550,442,391.02
   
1,440,706,653.40
   
1,409,995,076.78
   
0.9094147
 
Class A-1 Notes
   
4.271000
%
 
219,700,000.00
   
109,964,262.38
   
79,252,685.76
   
0.3607314
 
Class A-2 Notes
   
4.610000
%
 
242,000,000.00
   
242,000,000.00
   
242,000,000.00
   
1.0000000
 
Class A-3 Notes
   
4.700000
%
 
445,000,000.00
   
445,000,000.00
   
445,000,000.00
   
1.0000000
 
Class A-4 Notes
   
4.620000
%
 
488,700,000.00
   
488,700,000.00
   
488,700,000.00
   
1.0000000
 
Certificates
   
0.000000
%
 
155,042,391.02
   
155,042,391.02
   
155,042,391.02
   
1.0000000
 
                                 
 
   
Principal Payment Due 
   
Interest Payment
   
Principal per $1000 Face Amount
   
Interest per $1000 Face Amount
       
Class A-1 Notes
   
30,711,576.62
   
365,289.06
   
139.7886965
   
1.6626721
       
Class A-2 Notes
   
0.00
   
929,683.33
   
0.0000000
   
3.8416667
       
Class A-3 Notes
   
0.00
   
1,742,916.67
   
0.0000000
   
3.9166667
       
Class A-4 Notes
   
0.00
   
1,756,062.00
   
0.0000000
   
3.5933333
       
Certificates
   
0.00
   
0.00
   
0.0000000
   
0.0000000
       
Total Securities
   
30,711,576.62
   
4,793,951.06
                   
 
I. COLLECTIONS
                               
                                 
Lease Payments: ( Lease SUBI)
                               
Monthly Principal
                           
20,361,485.38
 
Monthly Interest
                           
6,106,518.63
 
Total Monthly Payments
                           
26,468,004.01
 
                                 
Interest Rate Cap Payments
                           
0.00
 
                                 
Advances:
                               
Aggregate Monthly Payment Advances
                           
1,737,863.24
 
Aggregate Sales Proceeds Advance
                           
553,535.59
 
Total Advances
                           
2,291,398.83
 
                                 
Vehicle Disposition Proceeds:
                               
Reallocation Payments
                           
2,052,382.74
 
Repurchase Payments
                           
16,631.27
 
Net Auction Proceeds
                           
0.00
 
Recoveries
                           
0.00
 
Net Liquidation Proceeds
                           
10,109,952.47
 
Excess Wear and Tear and Excess Mileage
                           
3,486.37
 
Remaining Payoffs
                           
0.00
 
Net Insurance Proceeds
                           
893,965.63
 
Residual Value Surplus
                           
21,697.05
 
Total Collections
                           
41,857,518.37
 
 
 
 
 
Page 5 of 8

 
 
II. COLLATERAL POOL BALANCE DATA
                               
 
   
Number
   
Book Amount
   
Discount Rate
   
Securitization Value
       
Pool Balance - Beginning of Period
   
66,426
   
1,572,127,078.89
   
8.15000
%
 
1,440,706,653.40
       
Total Depreciation Received
         
(20,803,182.85)
 
       
(17,483,459.23
 
     
Principal Amount of Gross Losses
   
(118)
 
 
(2,834,073.22)
 
       
(2,666,049.17)
 
     
Repurchase / Reallocation
   
(1)
 
 
(18,557.78)
 
       
(16,631.27)
 
     
Early Terminations
   
(18)
 
 
(396,157.72)
 
       
(370,074.58)
 
   
Scheduled Terminations
   
(482)
 
 
(10,687,962.12)
 
       
(10,175,362.37)
 
     
Pool Balance - End of Period
   
65,807
   
1,537,387,145.20
   
8.15000
%
 
1,409,995,076.78
       
                                 
III. DISTRIBUTIONS
                               
                                 
Total Collections
                           
41,857,518.37
 
Reserve Amounts Available for Distribution
                           
0.00
 
Total Available for Distribution
                           
41,857,518.37
 
                                 
1. Amounts due Indenture Trustee as Compensation or Indemnity
                           
0.00
 
2. Reimbursement of Payment Advance
                           
1,154,881.12
 
3. Reimbursement of Sales Proceeds Advance
                           
572,671.66
 
4. Servicing Fee:
                               
Servicing Fee Due
                           
1,200,588.88
 
Servicing Fee Paid
                           
1,200,588.88
 
Servicing Fee Shortfall
                           
0.00
 
Total Trustee, Advances and Servicing Fee Paid
                           
2,928,141.66
 
                                 
5. Interest:
                               
Class A-1 Notes Monthly Interest
                               
Class A-1 Notes Interest Carryover Shortfall
                           
0.00
 
Class A-1 Notes Interest on Interest Carryover Shortfall
                           
0.00
 
Class A-1 Notes Monthly Available Interest Distribution Amount
                           
365,289.06
 
                                 
Class A-1 Notes Monthly Interest Paid
                           
365,289.06
 
Chg in Class A-1 Notes Int. Carryover Shortfall
                           
0.00
 
                                 
Class A-2 Notes Monthly Interest
                               
Class A-2 Notes Interest Carryover Shortfall
                           
0.00
 
Class A-2 Notes Interest on Interest Carryover Shortfall
                           
0.00
 
Class A-2 Notes Monthly Available Interest Distribution Amount
                           
929,683.33
 
                                 
Class A-2 Notes Monthly Interest Paid
                           
929,683.33
 
Chg in Class A-2 Notes Int. Carryover Shortfall
                           
0.00
 
                                 
Class A-3 Notes Monthly Interest
                               
Class A-3 Notes Interest Carryover Shortfall
                           
0.00
 
Class A-3 Notes Interest on Interest Carryover Shortfall
                           
0.00
 
Class A-3 Notes Monthly Available Interest Distribution Amount
                           
1,742,916.67
 
                                 
Class A-3 Notes Monthly Interest Paid
                           
1,742,916.67
 
Chg in Class A-3a Notes Int. Carryover Shortfall
                           
0.00
 
 
 
 
 
 
Page 6 of 8

 
 
Class A-4 Notes Monthly Interest
                               
Class A-4 Notes Interest Carryover Shortfall
                           
0.00
 
Class A-4 Notes Interest on Interest Carryover Shortfall
                           
0.00
 
Class A-4 Notes Monthly Available Interest Distribution Amount
                           
1,756,062.00
 
                                 
Class A-4 Notes Monthly Interest Paid
                           
1,756,062.00
 
Chg in Class A-4 Notes Int. Carryover Shortfall
                           
0.00
 
                                 
Certificate Monthly Interest
                               
Certificate Interest Carryover Shortfall
                           
0.00
 
Certificate Interest on Interest Carryover Shortfall
                           
0.00
 
Certificate Monthly Available Interest Distribution Amount
                           
0.00
 
                                 
Certificate Monthly Interest Paid
                           
0.00
 
Chg in Certificate Int. Carryover Shortfall
                           
0.00
 
                                 
Total Note and Certificate Monthly Interest
                               
Total Note and Certificate Monthly Interest Due
                           
4,793,951.06
 
Total Note and Certificate Monthly Interest Paid
                           
4,793,951.06
 
Total Note and Certificate Interest Carryover Shortfall
                           
0.00
 
Chg in Total Note and Certificate Int. Carryover Shortfall
                           
0.00
 
                                 
Total Available for Principal Distribution
                           
34,135,425.65
 
                                 
6. Total Monthly Principal Paid on the Notes
                               
Total Monthly Principal Paid on the Class A Notes
                           
30,711,576.62
 
                                 
Total Class A Noteholders' Principal Carryover Shortfall
                           
0.00
 
Total Class A Noteholders' Principal Distributable Amount
                           
30,711,576.62
 
Chg in Total Class A Noteholders' Principal Carryover Shortfall
                           
0.00
 
                                 
7. Total Monthly Principal Paid on the Certificates
                           
0.00
 
                                 
Total Certificateholders' Principal Carryover Shortfall
                           
0.00
 
Total Certificateholders' Principal Distributable Amount
                           
0.00
 
Chg in Total Certificateholders' Principal Carryover Shortfall
                           
0.00
 
                                 
Remaining Available Collections
                           
3,423,849.03
 
 
 
 
 
 
Page 7 of 8

 
 
IV. RESERVE ACCOUNT
                               
                                 
Initial Reserve Account Amount
                           
15,504,423.91
 
Required Reserve Account Amount
                           
46,513,271.73
 
Beginning Reserve Account Balance
                           
36,864,616.64
 
Reinvestment Income for the Period
                           
248,295.43
 
Reserve Fund Available for Distribution
                           
37,112,912.07
 
Reserve Fund Draw Amount
                           
0.00
 
Deposit of Remaining Available Collections
                           
3,423,849.03
 
Gross Reserve Account Balance
                           
40,536,761.10
 
Remaining Available Collections Released to Seller
                           
0.00
 
Ending Reserve Account Balance
                           
40,536,761.10
 
                                 
V. POOL STATISTICS
                               
                                 
Weighted Average Remaining Maturity
                           
25.81
 
Monthly Prepayment Speed 
                           
88.000
%
Lifetime Prepayment Speed 
                           
77.000
%
                                 
                       
$ 
 
units
 
Recoveries of Defaulted and Casualty Receivables
                     
1,924,556.45
       
Securitization Value of Defaulted Receivables and Casualty Receivables
                     
2,666,049.17
   
118
 
Aggregate Defaulted and Casualty Gain (Loss)
                     
(741,492.72)
 
     
Pool Balance at Beginning of Collection Period
                     
1,440,706,653.40
       
Net Loss Ratio
                     
-0.0515
%
     
                                 
Cumulative Net Losses for all Periods
                     
0.1778
%
 
2,756,082.43
 
                                 
Delinquent Receivables:
                     
Amount
   
Number
 
31-60 Days Delinquent
                     
13,970,380.29
   
626
 
61-90 Days Delinquent
                     
3,191,502.45
   
132
 
91-120+ Days Delinquent
                     
1,003,119.14
   
41
 
Total Delinquent Receivables:
                     
18,165,001.88
   
799
 
60+ Days Delinquencies as Percentage of Receivables
                     
0.29
%
     
                                 
Aggregate Sales Performance of Auctioned Vehicles
                     
$ 
     
units
 
Sales Proceeds
                     
1,055,534.03
   
63
 
Securitization Value
                     
1,155,721.01
       
Aggregate Residual Gain (Loss)
                     
(100,186.98)
 
     
                                 
Cumulative Sales Performance of Auctioned Vehicles
                     
$ 
 
 
units
 
Cumulative Sales Proceeds
                     
3,139,955.47
   
187
 
Cumulative Securitization Value
                     
3,616,816.07
       
Cumulative Residual Gain (Loss)
                     
(476,860.60)
 
     
                                 
VI. RECONCILIATION OF ADVANCES
                     
.
       
                                 
Beginning Balance of Residual Advance
                           
867,616.14
 
Reimbursement of Outstanding Advance
                           
572,671.66
 
Additional Advances for current period
                           
553,535.59
 
Ending Balance of Residual Advance
                           
848,480.07
 
                                 
Beginning Balance of Payment Advance
                           
3,025,758.24
 
Reimbursement of Outstanding Payment Advance
                           
1,154,881.12
 
Additional Payment Advances for current period
                           
1,737,863.24
 
Ending Balance of Payment Advance
                           
3,608,740.36
 
                                 
 
 
 
 
Page 8 of 8