c040105

-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Ki1nXuZEddzse4KpfdHmtaWhiDweGaijMRubT/9UPBEKg3QRQXLiqGRBeoZDVs9U bFEbOrds9hTI8jmrrGUAKg== 0001300197-05-000007.txt : 20050513 0001300197-05-000007.hdr.sgml : 20050513 20050513172933 ACCESSION NUMBER: 0001300197-05-000007 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 20050513 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050513 DATE AS OF CHANGE: 20050513 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NISSAN AUTO LEASING LLC II CENTRAL INDEX KEY: 0001244832 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 954885574 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 333-106763 FILM NUMBER: 05830715 BUSINESS ADDRESS: STREET 1: 990 W 190TH STREET CITY: TORRANCE STATE: CA ZIP: 90502 BUSINESS PHONE: 3107198583 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NILT TRUST CENTRAL INDEX KEY: 0001244824 IRS NUMBER: 526935346 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 333-106763-02 FILM NUMBER: 05830717 BUSINESS ADDRESS: STREET 1: C/O NISSAN NORTH AMERICA, INC. STREET 2: 990 WEST 190TH STREET, MAILSTOP M8A CITY: TORRANCE STATE: CA ZIP: 90502 BUSINESS PHONE: 3107198584 MAIL ADDRESS: STREET 1: C/O NISSAN NORTH AMERICA, INC. STREET 2: 990 WEST 190TH STREET, MAILSTOP M8A CITY: TORRANCE STATE: CA ZIP: 90502 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NISSAN-INFINITI LT CENTRAL INDEX KEY: 0001244827 IRS NUMBER: 336226449 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 333-106763-01 FILM NUMBER: 05830718 BUSINESS ADDRESS: STREET 1: C/O NISSAN NORTH AMERICA, INC. STREET 2: 990 WEST 190TH STREET, MAILSTOP M8A CITY: TORRANCE STATE: CA ZIP: 90502 BUSINESS PHONE: 3107198235 MAIL ADDRESS: STREET 1: C/O NISSAN NORTH AMERICA, INC. STREET 2: 990 WEST 190TH STREET, MAILSTOP M8A CITY: TORRANCE STATE: CA ZIP: 90502 FORMER COMPANY: FORMER CONFORMED NAME: NISSAN INFINITI LT DATE OF NAME CHANGE: 20030620 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Nissan Auto Lease Trust 2004-A CENTRAL INDEX KEY: 0001300197 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 516557795 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 333-118256 FILM NUMBER: 05830716 BUSINESS ADDRESS: STREET 1: C/O NISSAN NORTH AMERICA, INC. STREET 2: 990 WEST 190TH STREET CITY: TORANCE STATE: CA ZIP: 90502 BUSINESS PHONE: 310-719-8509 MAIL ADDRESS: STREET 1: C/O NISSAN NORTH AMERICA, INC. STREET 2: 990 WEST 190TH STREET CITY: TORANCE STATE: CA ZIP: 90502 8-K/A 1 a04nalt051305-8kant.htm c040105 UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

____________________

FORM 8-K/A

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (date of earliest event reported):

May 13, 2005

Nissan Auto Leasing LLC II
(Originator of the Note Issuer and Transferor of the SUBI Certificate to the Note Issuer)
(Exact name of registrant as specified in its charter)

Nissan-Infiniti LT
(Issuer with respect to the SUBI Certificate)
(Exact name of registrant as specified in its charter)

NILT Trust
(Transferor of the SUBI Certificate to Nissan Auto Leasing LLC II)
(Exact name of registrant as specified in its charter)

Nissan Auto Lease Trust 2004-A
(Issuer with respect to the Notes)
(Exact name of registrant as specified in its charter)

Delaware	333-106763 333-106763-01 333-106763-02 333-118256	95-4885574 33-6226449 52-6935346 51-6557795
(State or other Jurisdiction of incorporation)	(Commission Registration Number)	(I.R.S. Employer Identification Number)

990 WEST 190TH STREET
TORRANCE, CALIFORNIA 90502

___________________________________

(Address of principal executive office)

Registrant's telephone number, including area code: (310) 719-8509

Item 5. Other Events.

This amendment to the Current Reports on Form 8-K, originally dated December 15, 2004, January 18, 2005, February 15, 2005 and March 15, 2005, is being filed in order to replace the exhibit that was attached to each of the original Current Report.

Pursuant to Section 8.09(b) of the 2004-A Servicing Supplement, dated as of October 28, 2004 (the "Agreement"), by and among Nissan-Infiniti LT, as titling trust, NILT Trust, as UTI beneficiary, and Nissan Motor Acceptance Corporation, as servicer (the "Servicer"), the Servicer had previously delivered to the Trustee (as defined in the Agreement) a Settlement Statement (as defined in the Agreement). Copies of such Settlement Statements were previously filed on Current Reports on Form 8-K, originally dated December 15, 2004, January 18, 2005, February 15, 2005 and March 15, 2005. The following items were corrected from each of the filed versions:

The values for "III. DISTRIBUTIONS - 5. Interest - Class A-4a Notes Interest on Interest Carryover Shortfall" and "III. DISTRIBUTIONS - 5. Interest - Class A-4a Notes Monthly Available Interest Distribution Amount" were transposed.

There was an error on the value reported for "V. POOL STATISTICS - Cumulative Net Losses for all Periods."

There was an error on the value reported for "V. POOL STATISTICS - Cumulative Residual Gain (Loss)."

Copies of the corrected Settlement Statement for the month of November 2004, December 2004, January 2005 and February 2005 are filed as Exhibit 20.1, 20.2, 20.3 and 20.4, respectively, to this Form 8-K/A.

Item 7	Financial Statements, Pro Forma Financial Information and Exhibits.
	(a) Not applicable.
	(b) Not applicable.
	(c) Exhibits
	The exhibit number corresponds with Item 601(a) of Regulation S-K.

	Exhibit No.	Description
	20.1	Settlement Statement for the month ended November 30, 2004
	20.2	Settlement Statement for the month ended December 31, 2004
	20.3	Settlement Statement for the month ended January 31, 2005
	20.4	Settlement Statement for the month ended February 28, 2005

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on behalf of the undersigned thereunto duly authorized.

	NISSAN AUTO LEASING LLC II

	By:	___/s/___Kazuhiko Kazama_________
		Kazuhiko Kazama Treasurer

NISSAN AUTO LEASE TRUST 2004-A
By:	Nissan Auto Leasing LLC II, solely as originator of Nissan Auto Lease Trust 2004-A
	By:	___/s/___Kazuhiko Kazama____
		Kazuhiko Kazama Treasurer

NILT TRUST
By:	Nissan Motor Acceptance Corporation, solely as grantor and beneficiary

	By:	___/s/___Kazuhiko Kazama_____
		Kazuhiko Kazama Treasurer

NISSAN-INFINITI LT
By:	Nissan Motor Acceptance Corporation, solely as originator of Nissan-Infiniti LT
	By:	___/s/_Kazuhiko Kazama_________
		Kazuhiko Kazama Treasurer

May 13, 2005

EXHIBIT INDEX

Exhibit No.	Description	Sequentially Numbered Page
20.1	Settlement Statement for the month ended November 30, 2004	5
20.2	Settlement Statement for the month ended December 31, 2004	9
20.3	Settlement Statement for the month of January 31, 2005	13
20.4	Settlement Statement for the month of February 28, 2005	17

EX-20 2 a04051305naltex20-1nt.htm EXHIBIT 20.1 SETTLEMENT STATEMENT FOR THE MONTH ENDED NOVEMBER 30, 2004 Exhibit 20

Exhibit 20.1

Nissan Auto Lease Trust 2004-A

Settlement Statement

for Month Ended November 30, 2004

Collection Period Start		1-Nov-04	Distribution Date	15-Dec-04
Collection Period End		30-Nov-04	30/360 Days	30
Beg. of Interest Period		15-Nov-04	Actual/360 Days	30
End of Interest Period		15-Dec-04

SUMMARY
	Coupon Rate	Initial Balance	Beginning Balance	Ending Balance	Pool Factor
Total Portfolio		1,680,098,819.60	1,622,316,069.47	1,592,319,596.60	0.9477535
Total Securities		1,680,098,819.60	1,622,316,069.47	1,592,319,596.60	0.9477535
Class A-1 Notes	2.105630%	265,000,000.00	207,217,249.87	177,220,777.00	0.6687576
Class A-2 Notes	2.550000%	260,000,000.00	260,000,000.00	260,000,000.00	1.0000000
Class A-3 Notes	2.900000%	357,000,000.00	357,000,000.00	357,000,000.00	1.0000000
Class A-4a Notes	2.170000%	488,000,000.00	488,000,000.00	488,000,000.00	1.0000000
Class A-4b Notes	3.180000%	100,000,000.00	100,000,000.00	100,000,000.00	1.0000000
Certificates	0.000000%	210,098,819.60	210,098,819.60	210,098,819.60	1.0000000

	Principal Payment Due	Interest Payment	Principal per $1000 Face Amount	Interest per $1000 Face Amount
Class A-1 Notes	29,996,472.87	363,602.38	113.1942372	1.3720845
Class A-2 Notes	0.00	552,500.00	0.0000000	2.1250000
Class A-3 Notes	0.00	862,750.00	0.0000000	2.4166667
Class A-4a Notes	0.00	882,466.67	0.0000000	1.8083333
Class A-4b	0.00	265,000.00	0.0000000	2.6500000
Certificates	0.00	0.00	0.0000000	0.0000000
Total Securities	29,996,472.87	2,926,319.05

I. COLLECTIONS

Lease Payments: ( Lease SUBI)
Monthly Principal							20,919,326.01
Monthly Interest							6,281,838.17
Total Monthly Payments							27,201,164.18

Interest Rate Cap Payments							0.00

Advances:
Aggregate Monthly Payment Advances							1,406,153.83
Aggregate Sales Proceeds Advance							812,499.86
Total Advances							2,218,653.69


Vehicle Disposition Proceeds:
Reallocation Payments							1,041,340.08
Repurchase Payments							0.00
Net Auction Proceeds							0.00
Recoveries							0.00
Net Liquidation Proceeds							5,874,703.07
Excess Wear and Tear and Excess Mileage							2,647.56
Remaining Payoffs							0.00
Net Insurance Proceeds							857,613.85
Residual Value Surplus							1,149.03
Total Collections							37,197,271.46

II. COLLATERAL POOL BALANCE DATA
			Number	Book Amount	Discount Rate	Securitization Value
Pool Balance - Beginning of Period			70,303	1,656,828,431.03	4.50000%	1,622,316,069.47
Total Depreciation Received				(20,999,489.06)		(21,133,898.16)
Principal Amount of Gross Losses			(78)	(2,045,947.25)		(2,065,917.99)
Repurchase / Reallocation			0	0.00		0.00
Early Terminations			(8)	(143,124.32)		(132,239.46)
Scheduled Terminations			(273)	(6,600,229.84)		(6,664,417.26)
Pool Balance - End of Period			69,944	1,627,039,640.56	4.50000%	1,592,319,596.60

III. DISTRIBUTIONS

Total Collections							37,197,271.46
Reserve Amounts Available for Distribution							0.00
Total Available for Distribution							37,197,271.46

1. Amounts due Indenture Trustee as Compensation or Indemnity							0.00
2. Reimbursement of Payment Advance							1,235,242.53
3. Reimbursement of Sales Proceeds Advance							409,186.50
4. Servicing Fee:
Servicing Fee Due							1,351,930.06
Servicing Fee Paid							1,351,930.06
Servicing Fee Shortfall							0.00
Total Trustee, Advances and Servicing Fee Paid							2,996,359.09

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							363,602.38

Class A-1 Notes Monthly Interest Paid							363,602.38
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							552,500.00

Class A-2 Notes Monthly Interest Paid							552,500.00
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							862,750.00

Class A-3 Notes Monthly Interest Paid							862,750.00
Chg in Class A-3a Notes Int. Carryover Shortfall							0.00
							0.00
Class A-4 Monthly Interest
Class A-4a Notes Interest Carryover Shortfall							0.00
Class A-4a Notes Interest on Interest Carryover Shortfall							0.00
Class A-4a Notes Monthly Available Interest Distribution Amount							882,466.67

Class A-4a Notes Monthly Interest Paid							882,466.67
Chg in Class A-4a Notes Int. Carryover Shortfall							0.00

Class A-4b Notes Interest Carryover Shortfall							0.00
Class A-4b Notes Interest on Interest Carryover Shortfall							0.00
Class A-4b Notes Monthly Available Interest Distribution Amount							265,000.00

Class A-4b Notes Monthly Interest Paid							265,000.00
Chg in Class A-4b Notes Int. Carryover Shortfall							0.00
							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
							0.00
Total Note and Certificate Monthly Interest
Total Note and Certificate Monthly Interest Due							2,926,319.05
Total Note and Certificate Monthly Interest Paid							2,926,319.05
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							31,274,593.32

6. Total Monthly Principal Paid on the Notes
Total Monthly Principal Paid on the Class A Notes							29,996,472.87

Total Class A Noteholders' Principal Carryover Shortfall							0.00
Total Class A Noteholders' Principal Distributable Amount							29,996,472.87
Chg in Total Class A Noteholders' Principal Carryover Shortfall							0.00
							0.00
							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
							0.00
Remaining Available Collections							1,278,120.45

IV. RESERVE ACCOUNT

Initial Reserve Account Amount							25,201,482.29
Required Reserve Account Amount							50,402,964.59
Beginning Reserve Account Balance							35,044,151.19
Reinvestment Income for the Period							77,423.18
Reserve Fund Available for Distribution							35,121,574.37
Reserve Fund Draw Amount							0.00
Deposit of Remaining Available Collections							1,278,120.45
Gross Reserve Account Balance							36,399,694.82
Remaining Available Collections Released to Seller							0.00
Ending Reserve Account Balance							36,399,694.82

V. POOL STATISTICS

Weighted Average Remaining Maturity							29.73
Monthly Prepayment Speed							11.000%
Lifetime Prepayment Speed							-81.000%

						$	units
Recoveries of Defaulted and Casualty Receivables						1,247,038.33
Securitization Value of Defaulted Receivables and Casualty Receivables						2,065,917.99	78
Aggregate Defaulted and Casualty Gain (Loss)						(818,879.66)
Pool Balance at Beginning of Collection Period						1,622,316,069.47
Net Loss Ratio						-0.0505%

Cumulative Net Losses for all Periods						0.1419%	2,384,346.08

Delinquent Receivables:						Amount	Number
31-60 Days Delinquent						15,421,163.08	635
61-90 Days Delinquent						2,591,597.70	100
91-120+ Days Delinquent						550,667.26	20
Total Delinquent Receivables:						18,563,428.04	755
60+ Days Delinquencies as Percentage of Receivables						0.19%

Aggregate Sales Performance of Auctioned Vehicles						$	units
Sales Proceeds						624,813.00	34
Securitization Value						751,612.82
Aggregate Residual Gain (Loss)						(126,799.82)

Cumulative Sales Performance of Auctioned Vehicles						$	units
Cumulative Sales Proceeds						1,050,814.00	58
Cumulative Securitization Value						1,282,339.38
Cumulative Residual Gain (Loss)						(231,525.38)

VI. Reconciliation of Advances

Beginning Balance of Residual Advance							597,331.62
Reimbursement of Outstanding Advance							409,186.50
Additional Advances for current period							812,499.86
Ending Balance of Residual Advance							1,000,644.98

Beginning Balance of Payment Advance							3,089,568.61
Reimbursement of Outstanding Payment Advance							1,235,242.53
Additional Payment Advances for current period							1,406,153.83
Ending Balance of Payment Advance							3,260,479.91

EX-20 3 a04051305naltex20-2nt.htm EXHIBIT 20.2 SETTLEMENT STATEMENT FOR THE MONTH ENDED DECEMBER 30, 2004 Exhibit 20

Exhibit 20.2

Nissan Auto Lease Trust 2004-A

Settlement Statement

for Month Ended December 31, 2004

Collection Period Start		1-Dec-04	Distribution Date	18-Jan-05
Collection Period End		31-Dec-04	30/360 Days	30
Beg. of Interest Period		15-Dec-04	Actual/360 Days	34
End of Interest Period		18-Jan-05

SUMMARY
	Coupon Rate	Initial Balance	Beginning Balance	Ending Balance	Pool Factor
Total Portfolio		1,680,098,819.60	1,592,319,596.60	1,560,235,442.37	0.9286569
Total Securities		1,680,098,819.60	1,592,319,596.60	1,560,235,442.37	0.9286569
Class A-1 Notes	2.105630%	265,000,000.00	177,220,777.00	145,136,622.77	0.5476854
Class A-2 Notes	2.550000%	260,000,000.00	260,000,000.00	260,000,000.00	1.0000000
Class A-3 Notes	2.900000%	357,000,000.00	357,000,000.00	357,000,000.00	1.0000000
Class A-4a Notes	2.472500%	488,000,000.00	488,000,000.00	488,000,000.00	1.0000000
Class A-4b Notes	3.180000%	100,000,000.00	100,000,000.00	100,000,000.00	1.0000000
Certificates	0.000000%	210,098,819.60	210,098,819.60	210,098,819.60	1.0000000

	Principal Payment Due	Interest Payment	Principal per $1000 Face Amount	Interest per $1000 Face Amount
Class A-1 Notes	32,084,154.23	352,430.20	121.0722801	1.3299253
Class A-2 Notes	0.00	552,500.00	0.0000000	2.1250000
Class A-3 Notes	0.00	862,750.00	0.0000000	2.4166667
Class A-4a Notes	0.00	1,139,547.78	0.0000000	2.3351389
Class A-4b	0.00	265,000.00	0.0000000	2.6500000
Certificates	0.00	0.00	0.0000000	0.0000000
Total Securities	32,084,154.23	3,172,227.98

I. COLLECTIONS

Lease Payments: ( Lease SUBI)
Monthly Principal							20,950,874.86
Monthly Interest							6,223,055.23
Total Monthly Payments							27,173,930.09

Interest Rate Cap Payments							0.00

Advances:
Aggregate Monthly Payment Advances							1,413,465.89
Aggregate Sales Proceeds Advance							1,281,886.52
Total Advances							2,695,352.41

Vehicle Disposition Proceeds:
Reallocation Payments							1,417,596.93
Repurchase Payments							47,644.43
Net Auction Proceeds							0.00
Recoveries							0.00
Net Liquidation Proceeds							7,577,489.95
Excess Wear and Tear and Excess Mileage							3,112.46
Remaining Payoffs							0.00
Net Insurance Proceeds							819,710.81
Residual Value Surplus							1,867.19
Total Collections							39,736,704.27

II. COLLATERAL POOL BALANCE DATA
			Number	Book Amount	Discount Rate	Securitization Value
Pool Balance - Beginning of Period			69,944	1,627,039,640.56	4.50000%	1,592,319,596.60
Total Depreciation Received				(20,857,605.02)		(21,059,148.93)
Principal Amount of Gross Losses			(89)	(2,288,552.58)		(2,346,549.09)
Repurchase / Reallocation			(2)	(46,229.29)		(47,644.43)
Early Terminations			(10)	(211,734.26)		(203,205.98)
Scheduled Terminations			(350)	(8,408,921.28)		(8,427,605.80)
Pool Balance - End of Period			69,493	1,595,226,598.13	4.50000%	1,560,235,442.37

III. DISTRIBUTIONS

Total Collections							39,736,704.27
Reserve Amounts Available for Distribution							0.00
Total Available for Distribution							39,736,704.27

1. Amounts due Indenture Trustee as Compensation or Indemnity							0.00
2. Reimbursement of Payment Advance							1,352,766.10
3. Reimbursement of Sales Proceeds Advance							539,173.02
4. Servicing Fee:
Servicing Fee Due							1,326,933.00
Servicing Fee Paid							1,326,933.00
Servicing Fee Shortfall							0.00
Total Trustee, Advances and Servicing Fee Paid							3,218,872.12

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							352,430.20

Class A-1 Notes Monthly Interest Paid							352,430.20
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							552,500.00

Class A-2 Notes Monthly Interest Paid							552,500.00
Chg in Class A-2 Notes Int. Carryover Shortfall							0.00

Class A-3 Notes Monthly Interest							0.00
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							862,750.00

Class A-3 Notes Monthly Interest Paid							862,750.00
Chg in Class A-3a Notes Int. Carryover Shortfall							0.00
							0.00
Class A-4 Monthly Interest
Class A-4a Notes Interest Carryover Shortfall							0.00
Class A-4a Notes Interest on Interest Carryover Shortfall							0.00
Class A-4a Notes Monthly Available Interest Distribution Amount							1,139,547.78

Class A-4a Notes Monthly Interest Paid							1,139,547.78
Chg in Class A-4a Notes Int. Carryover Shortfall							0.00

Class A-4b Notes Interest Carryover Shortfall							0.00
Class A-4b Notes Interest on Interest Carryover Shortfall							0.00
Class A-4b Notes Monthly Available Interest Distribution Amount							265,000.00

Class A-4b Notes Monthly Interest Paid							265,000.00
Chg in Class A-4b Notes Int. Carryover Shortfall							0.00
							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
							0.00
Total Note and Certificate Monthly Interest
Total Note and Certificate Monthly Interest Due							3,172,227.98
Total Note and Certificate Monthly Interest Paid							3,172,227.98
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							33,345,604.17

6. Total Monthly Principal Paid on the Notes
Total Monthly Principal Paid on the Class A Notes							32,084,154.23

Total Class A Noteholders' Principal Carryover Shortfall							0.00
Total Class A Noteholders' Principal Distributable Amount							32,084,154.23
Chg in Total Class A Noteholders' Principal Carryover Shortfall							0.00
							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
							0.00
Remaining Available Collections							1,261,449.94

IV. RESERVE ACCOUNT

Initial Reserve Account Amount							25,201,482.29
Required Reserve Account Amount							50,402,964.59
Beginning Reserve Account Balance							36,399,694.82
Reinvestment Income for the Period							119,789.91
Reserve Fund Available for Distribution							36,519,484.73
Reserve Fund Draw Amount							0.00
Deposit of Remaining Available Collections							1,261,449.94
Gross Reserve Account Balance							37,780,934.67
Remaining Available Collections Released to Seller							0.00
Ending Reserve Account Balance							37,780,934.67

V. POOL STATISTICS

Weighted Average Remaining Maturity							28.75
Monthly Prepayment Speed							24.000%
Lifetime Prepayment Speed							-55.000%

						$	units
Recoveries of Defaulted and Casualty Receivables						1,597,928.67
Securitization Value of Defaulted Receivables and Casualty Receivables						2,346,549.09	89
Aggregate Defaulted and Casualty Gain (Loss)						(748,620.42)
Pool Balance at Beginning of Collection Period						1,592,319,596.60
Net Loss Ratio						-0.0470%

Cumulative Net Losses for all Periods						0.1865%	3,132,966.50

Delinquent Receivables:						Amount	Number
31-60 Days Delinquent						16,826,582.88	706
61-90 Days Delinquent						2,993,798.17	117
91-120+ Days Delinquent						1,122,066.41	37
Total Delinquent Receivables:						20,942,447.46	860
60+ Days Delinquencies as Percentage of Receivables						0.26%

Aggregate Sales Performance of Auctioned Vehicles						$	units
Sales Proceeds						566,125.00	33
Securitization Value						691,419.53
Aggregate Residual Gain (Loss)						(125,294.53)

Cumulative Sales Performance of Auctioned Vehicles						$	units
Cumulative Sales Proceeds						1,616,939.00	91
Cumulative Securitization Value						1,973,758.91
Cumulative Residual Gain (Loss)						(356,819.91)

VI. Reconciliation of Advances

Beginning Balance of Residual Advance							1,000,644.98
Reimbursement of Outstanding Advance							539,173.02
Additional Advances for current period							1,281,886.52
Ending Balance of Residual Advance							1,743,358.48

Beginning Balance of Payment Advance							3,260,479.91
Reimbursement of Outstanding Payment Advance							1,352,766.10
Additional Payment Advances for current period							1,413,465.89
Ending Balance of Payment Advance							3,321,179.70

EX-20 4 a04051305naltex20-3nt.htm EXHIBIT 20.3 SETTLEMENT STATEMENT FOR THE MONTH ENDED JANUARY 31, 2005 Exhibit 20

Exhibit 20.3

Nissan Auto Lease Trust 2004-A

Settlement Statement

for Month Ended January 31, 2005

Collection Period Start		1-Jan-05	Distribution Date	15-Feb-05
Collection Period End		31-Jan-05	30/360 Days	30
Beg. of Interest Period		18-Jan-05	Actual/360 Days	28
End of Interest Period		15-Feb-05

SUMMARY
	Coupon Rate	Initial Balance	Beginning Balance	Ending Balance	Pool Factor
Total Portfolio		1,680,098,819.60	1,560,235,442.37	1,528,048,385.51	0.9094991
Total Securities		1,680,098,819.60	1,560,235,442.37	1,528,048,385.51	0.9094991
Class A-1 Notes	2.105630%	265,000,000.00	145,136,622.77	112,949,565.91	0.4262248
Class A-2 Notes	2.550000%	260,000,000.00	260,000,000.00	260,000,000.00	1.0000000
Class A-3 Notes	2.900000%	357,000,000.00	357,000,000.00	357,000,000.00	1.0000000
Class A-4a Notes	2.550000%	488,000,000.00	488,000,000.00	488,000,000.00	1.0000000
Class A-4b Notes	3.180000%	100,000,000.00	100,000,000.00	100,000,000.00	1.0000000
Certificates	0.000000%	210,098,819.60	210,098,819.60	210,098,819.60	1.0000000


	Principal Payment Due	Interest Payment	Principal per $1000 Face Amount	Interest per $1000 Face Amount
Class A-1 Notes	32,187,056.86	237,692.02	121.4605919	0.8969510
Class A-2 Notes	0.00	552,500.00	0.0000000	2.1250000
Class A-3 Notes	0.00	862,750.00	0.0000000	2.4166667
Class A-4a Notes	0.00	967,866.67	0.0000000	1.9833333
Class A-4b	0.00	265,000.00	0.0000000	2.6500000
Certificates	0.00	0.00	0.0000000	0.0000000
Total Securities	32,187,056.86	2,885,808.69

I. COLLECTIONS

Lease Payments: ( Lease SUBI)
Monthly Principal							21,387,729.70
Monthly Interest							6,245,290.10
Total Monthly Payments							27,633,019.80

Interest Rate Cap Payments							0.00

Advances:
Aggregate Monthly Payment Advances							1,197,701.93
Aggregate Sales Proceeds Advance							1,448,708.80
Total Advances							2,646,410.73

Vehicle Disposition Proceeds:
Reallocation Payments							2,260,672.64
Repurchase Payments							63,500.64
Net Auction Proceeds							0.00
Recoveries							0.00
Net Liquidation Proceeds							6,740,135.73
Excess Wear and Tear and Excess Mileage							13,101.21
Remaining Payoffs							0.00
Net Insurance Proceeds							1,250,068.56
Residual Value Surplus							8,133.61
Total Collections							40,615,042.92

II. COLLATERAL POOL BALANCE DATA
			Number	Book Amount	Discount Rate	Securitization Value
Pool Balance - Beginning of Period			69,493	1,595,226,598.13	4.50000%	1,560,235,442.37
Total Depreciation Received				(20,698,347.53)		(20,967,313.04)
Principal Amount of Gross Losses			(117)	(3,032,128.57)		(3,047,078.14)
Repurchase / Reallocation			(3)	(64,416.45)		(63,500.64)
Early Terminations			(9)	(182,203.67)		(172,001.16)
Scheduled Terminations			(344)	(7,937,569.41)		(7,937,163.88)
Pool Balance - End of Period			69,020	1,563,311,932.50	4.50000%	1,528,048,385.51

III. DISTRIBUTIONS

Total Collections							40,615,042.92
Reserve Amounts Available for Distribution							0.00
Total Available for Distribution							40,615,042.92

1. Amounts due Indenture Trustee as Compensation or Indemnity							0.00
2. Reimbursement of Payment Advance							1,506,487.21
3. Reimbursement of Sales Proceeds Advance							1,164,027.79
4. Servicing Fee:
Servicing Fee Due							1,300,196.20
Servicing Fee Paid							1,300,196.20
Servicing Fee Shortfall							0.00
Total Trustee, Advances and Servicing Fee Paid							3,970,711.20

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							237,692.02

Class A-1 Notes Monthly Interest Paid							237,692.02
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							552,500.00

Class A-2 Notes Monthly Interest Paid							552,500.00
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							862,750.00

Class A-3 Notes Monthly Interest Paid							862,750.00
Chg in Class A-3a Notes Int. Carryover Shortfall							0.00
							0.00
Class A-4 Monthly Interest
Class A-4a Notes Interest Carryover Shortfall							0.00
Class A-4a Notes Interest on Interest Carryover Shortfall							0.00
Class A-4a Notes Monthly Available Interest Distribution Amount							967,866.67

Class A-4a Notes Monthly Interest Paid							967,866.67
Chg in Class A-4a Notes Int. Carryover Shortfall							0.00

Class A-4b Notes Interest Carryover Shortfall							0.00
Class A-4b Notes Interest on Interest Carryover Shortfall							0.00
Class A-4b Notes Monthly Available Interest Distribution Amount							265,000.00

Class A-4b Notes Monthly Interest Paid							265,000.00
Chg in Class A-4b Notes Int. Carryover Shortfall							0.00
							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
							0.00
Total Note and Certificate Monthly Interest
Total Note and Certificate Monthly Interest Due							2,885,808.69
Total Note and Certificate Monthly Interest Paid							2,885,808.69
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							33,758,523.03

6. Total Monthly Principal Paid on the Notes
Total Monthly Principal Paid on the Class A Notes							32,187,056.86

Total Class A Noteholders' Principal Carryover Shortfall							0.00
Total Class A Noteholders' Principal Distributable Amount							32,187,056.86
Chg in Total Class A Noteholders' Principal Carryover Shortfall							0.00
							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
							0.00
Remaining Available Collections							1,571,466.17

IV. RESERVE ACCOUNT

Initial Reserve Account Amount							25,201,482.29
Required Reserve Account Amount							50,402,964.59
Beginning Reserve Account Balance							37,780,934.67
Reinvestment Income for the Period							138,543.91
Reserve Fund Available for Distribution							37,919,478.58
Reserve Fund Draw Amount							0.00
Deposit of Remaining Available Collections							1,571,466.17
Gross Reserve Account Balance							39,490,944.75
Remaining Available Collections Released to Seller							0.00
Ending Reserve Account Balance							39,490,944.75

V. POOL STATISTICS

Weighted Average Remaining Maturity							27.78
Monthly Prepayment Speed							24.000%
Lifetime Prepayment Speed							-39.000%

						$	units
Recoveries of Defaulted and Casualty Receivables						2,219,728.92
Securitization Value of Defaulted Receivables and Casualty Receivables						3,047,078.14	117
Aggregate Defaulted and Casualty Gain (Loss)						(827,349.22)
Pool Balance at Beginning of Collection Period						1,560,235,442.37
Net Loss Ratio						-0.0530%

Cumulative Net Losses for all Periods						0.2357%	3,960,315.72

Delinquent Receivables:						Amount	Number
31-60 Days Delinquent						15,166,746.42	637
61-90 Days Delinquent						4,055,641.07	164
91-120+ Days Delinquent						1,306,883.49	50
Total Delinquent Receivables:						20,529,270.98	851
60+ Days Delinquencies as Percentage of Receivables						0.34%

Aggregate Sales Performance of Auctioned Vehicles						$	units
Sales Proceeds						1,283,657.04	71
Securitization Value						1,516,554.21
Aggregate Residual Gain (Loss)						(232,897.17)

Cumulative Sales Performance of Auctioned Vehicles						$	units
Cumulative Sales Proceeds						2,900,596.04	162
Cumulative Securitization Value						3,490,313.12
Cumulative Residual Gain (Loss)						(589,717.08)

VI. Reconciliation of Advances

Beginning Balance of Residual Advance							1,743,358.48
Reimbursement of Outstanding Advance							1,164,027.79
Additional Advances for current period							1,448,708.80
Ending Balance of Residual Advance							2,028,039.49

Beginning Balance of Payment Advance							3,321,179.70
Reimbursement of Outstanding Payment Advance							1,506,487.21
Additional Payment Advances for current period							1,197,701.93
Ending Balance of Payment Advance							3,012,394.42

EX-20 5 a04051305naltex20-4nt.htm EXHIBIT 20.4 SETTLEMENT STATEMENT FOR THE MONTH ENDED FEBRUARY 28, 2005 Exhibit 20

Exhibit 20.4

Nissan Auto Lease Trust 2004-A

Settlement Statement

for Month Ended February 28, 2005

Collection Period Start		1-Feb-05	Distribution Date	15-Mar-05
Collection Period End		28-Feb-05	30/360 Days	30
Beg. of Interest Period		15-Feb-05	Actual/360 Days	28
End of Interest Period		15-Mar-05

SUMMARY
	Coupon Rate	Initial Balance	Beginning Balance	Ending Balance	Pool Factor
Total Portfolio		1,680,098,819.60	1,528,048,385.51	1,495,757,334.68	0.8902794
Total Securities		1,680,098,819.60	1,528,048,385.51	1,495,757,334.68	0.8902794
Class A-1 Notes	2.105630%	265,000,000.00	112,949,565.91	80,658,515.08	0.3043718
Class A-2 Notes	2.550000%	260,000,000.00	260,000,000.00	260,000,000.00	1.0000000
Class A-3 Notes	2.900000%	357,000,000.00	357,000,000.00	357,000,000.00	1.0000000
Class A-4a Notes	2.660000%	488,000,000.00	488,000,000.00	488,000,000.00	1.0000000
Class A-4b Notes	3.180000%	100,000,000.00	100,000,000.00	100,000,000.00	1.0000000
Certificates	0.000000%	210,098,819.60	210,098,819.60	210,098,819.60	1.0000000

	Principal Payment Due	Interest Payment	Principal per $1000 Face Amount	Interest per $1000 Face Amount
Class A-1 Notes	32,291,050.83	184,978.88	121.8530220	0.6980335
Class A-2 Notes	0.00	552,500.00	0.0000000	2.1250000
Class A-3 Notes	0.00	862,750.00	0.0000000	2.4166667
Class A-4a Notes	0.00	1,009,617.78	0.0000000	2.0688889
Class A-4b	0.00	265,000.00	0.0000000	2.6500000
Certificates	0.00	0.00	0.0000000	0.0000000
Total Securities	32,291,050.83	2,874,846.66

I. COLLECTIONS

Lease Payments: ( Lease SUBI)
Monthly Principal							18,982,256.38
Monthly Interest							5,843,043.53
Total Monthly Payments							24,825,299.91

Interest Rate Cap Payments							0.00

Advances:
Aggregate Monthly Payment Advances							1,892,942.33
Aggregate Sales Proceeds Advance							1,527,299.94
Total Advances							3,420,242.27

Vehicle Disposition Proceeds:
Reallocation Payments							2,401,018.98
Repurchase Payments							43,278.72
Net Auction Proceeds							0.00
Recoveries							0.00
Net Liquidation Proceeds							6,703,474.33
Excess Wear and Tear and Excess Mileage							14,035.51
Remaining Payoffs							0.00
Net Insurance Proceeds							1,101,139.72
Residual Value Surplus							8,430.54
Total Collections							38,516,919.98

II. COLLATERAL POOL BALANCE DATA
			Number	Book Amount	Discount Rate	Securitization Value
Pool Balance - Beginning of Period			69,020	1,563,311,932.50	4.50000%	1,528,048,385.51
Total Depreciation Received				(20,529,564.78)		(20,866,757.78)
Principal Amount of Gross Losses			(125)	(3,104,759.05)		(3,108,582.25)
Repurchase / Reallocation			(3)	(46,257.25)		(43,278.72)
Early Terminations			(9)	(167,860.09)		(160,432.68)
Scheduled Terminations			(347)	(8,072,579.41)		(8,111,999.40)
Pool Balance - End of Period			68,536	1,531,390,911.92	4.50000%	1,495,757,334.68

III. DISTRIBUTIONS

Total Collections							38,648,375.82
Reserve Amounts Available for Distribution							0.00
Total Available for Distribution							38,648,375.82

1. Amounts due Indenture Trustee as Compensation or Indemnity							0.00
2. Reimbursement of Payment Advance							1,119,344.33
3. Reimbursement of Sales Proceeds Advance							1,089,760.35
4. Servicing Fee:
Servicing Fee Due							1,273,373.65
Servicing Fee Paid							1,273,373.65
Servicing Fee Shortfall							0.00
Total Trustee, Advances and Servicing Fee Paid							3,482,478.33

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							184,978.88

Class A-1 Notes Monthly Interest Paid							184,978.88
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							552,500.00

Class A-2 Notes Monthly Interest Paid							552,500.00
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							862,750.00

Class A-3 Notes Monthly Interest Paid							862,750.00
Chg in Class A-3a Notes Int. Carryover Shortfall							0.00
							0.00
Class A-4 Monthly Interest
Class A-4a Notes Interest Carryover Shortfall							0.00
Class A-4a Notes Interest on Interest Carryover Shortfall							0.00
Class A-4a Notes Monthly Available Interest Distribution Amount							1,009,617.78

Class A-4a Notes Monthly Interest Paid							1,009,617.78
Chg in Class A-4a Notes Int. Carryover Shortfall							0.00

Class A-4b Notes Interest Carryover Shortfall							0.00
Class A-4b Notes Interest on Interest Carryover Shortfall							0.00
Class A-4b Notes Monthly Available Interest Distribution Amount							265,000.00

Class A-4b Notes Monthly Interest Paid							265,000.00
Chg in Class A-4b Notes Int. Carryover Shortfall							0.00
							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
							0.00
Total Note and Certificate Monthly Interest
Total Note and Certificate Monthly Interest Due							2,874,846.66
Total Note and Certificate Monthly Interest Paid							2,874,846.66
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							32,291,050.83

6. Total Monthly Principal Paid on the Notes
Total Monthly Principal Paid on the Class A Notes							32,291,050.83

Total Class A Noteholders' Principal Carryover Shortfall							0.00
Total Class A Noteholders' Principal Distributable Amount							32,291,050.83
Chg in Total Class A Noteholders' Principal Carryover Shortfall							0.00
							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
							0.00
Remaining Available Collections							0.00

IV. RESERVE ACCOUNT

Initial Reserve Account Amount							25,201,482.29
Required Reserve Account Amount							50,402,964.59
Beginning Reserve Account Balance							39,490,944.75
Reinvestment Income for the Period							132,583.72
Reserve Fund Available for Distribution							39,623,528.47
Reserve Fund Draw Amount							131,455.84
Deposit of Remaining Available Collections							0.00
Gross Reserve Account Balance							39,492,072.63
Remaining Available Collections Released to Seller							0.00
Ending Reserve Account Balance							39,492,072.63

V. POOL STATISTICS

Weighted Average Remaining Maturity							26.81
Monthly Prepayment Speed							22.000%
Lifetime Prepayment Speed							-29.000%

						$	units
Recoveries of Defaulted and Casualty Receivables						2,114,994.77
Securitization Value of Defaulted Receivables and Casualty Receivables						3,108,582.25	125
Aggregate Defaulted and Casualty Gain (Loss)						(993,587.48)
Pool Balance at Beginning of Collection Period						1,528,048,385.51
Net Loss Ratio						-0.0650%

Cumulative Net Losses for all Periods						0.2949%	4,953,903.20

Delinquent Receivables:						Amount	Number
31-60 Days Delinquent						15,611,264.17	667
61-90 Days Delinquent						3,828,950.34	155
91-120+ Days Delinquent						1,254,910.42	48
Total Delinquent Receivables:						20,695,124.93	870
60+ Days Delinquencies as Percentage of Receivables						0.33%

Aggregate Sales Performance of Auctioned Vehicles						$	units
Sales Proceeds						1,386,052.12	81
Securitization Value						1,656,503.88
Aggregate Residual Gain (Loss)						(270,451.76)

Cumulative Sales Performance of Auctioned Vehicles						$	units
Cumulative Sales Proceeds						4,286,648.16	243
Cumulative Securitization Value						5,146,817.00
Cumulative Residual Gain (Loss)						(860,168.84)

VI. Reconciliation of Advances

Beginning Balance of Residual Advance							2,028,039.49
Reimbursement of Outstanding Advance							1,089,760.35
Additional Advances for current period							1,527,299.94
Ending Balance of Residual Advance							2,465,579.08

Beginning Balance of Payment Advance							3,012,394.42
Reimbursement of Outstanding Payment Advance							1,119,344.33
Additional Payment Advances for current period							1,892,942.33
Ending Balance of Payment Advance							3,785,992.42

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