-----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, QYwu8dTzDWT4zvclL3WoC98+fo3SpagXcBmIZYoHpjIqIUTcRsaUqUNA5CP0NhWU JcIRI241MaLu0ypQv3AIHw== 0000889812-99-003729.txt : 19991224 0000889812-99-003729.hdr.sgml : 19991224 ACCESSION NUMBER: 0000889812-99-003729 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19991215 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19991223 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CHASE MANHATTAN MARINE OWNER TRUST 1997-A CENTRAL INDEX KEY: 0001042749 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-32737-02 FILM NUMBER: 99779666 BUSINESS ADDRESS: STREET 1: 802 DELAWARE AVENUE CITY: WILMINGTON STATE: DE ZIP: 19801 BUSINESS PHONE: 3025755033 MAIL ADDRESS: STREET 1: 802 DELAWARE AVENUE CITY: WILMINGTON STATE: DE ZIP: 19801 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CHASE MANHATTAN BANK /NY/ CENTRAL INDEX KEY: 0000835271 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 134994650 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 033-22687 FILM NUMBER: 99779667 BUSINESS ADDRESS: STREET 1: 270 PARK AVE CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2122706000 MAIL ADDRESS: STREET 1: 270 PARK AVE CITY: NEW YORK STATE: NY ZIP: 10017 FORMER COMPANY: FORMER CONFORMED NAME: CHEMICAL BANK DATE OF NAME CHANGE: 19930521 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CHASE MANHATTAN BANK USA CENTRAL INDEX KEY: 0000869090 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 222382028 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-19191 FILM NUMBER: 99779668 BUSINESS ADDRESS: STREET 1: 802 DELAWARE AVE STREET 2: 13TH FLOOR CITY: WILMINGTON STATE: DE ZIP: 19801 BUSINESS PHONE: 3025755033 MAIL ADDRESS: STREET 1: 802 DELAWARE AVE 13TH FL STREET 2: 802 DELAWARE AVE 13TH FL CITY: WILMINGTON STATE: DE ZIP: 19801 8-K 1 CURRENT REPORT SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: December 15, 1999 CHASE MANHATTAN MARINE OWNER TRUST 1997-A (Issuer of Securities) CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION (Sponsor of the Trust) (Exact name of registrant as specified in its charter) United States 333-32737 22-2382028 - ---------------------------- ------------------------ ------------------- (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No.) 802 Delaware Avenue, Wilmington, Delaware 19801 ----------------------------------------- ---------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (302) 575-5033 THE CHASE MANHATTAN BANK (Sponsor of the Trust) (Exact name of registrant as specified in its charter) New York 333-32737 13-4994650 - ---------------------------- ----------------------- -------------------- (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No.) 270 Park Avenue, New York, New York 10017 ---------------------------------------- ---------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (212) 270-6000 Item 5. Other Events: Chase Manhattan Marine Owner Trust 1997-A is the issuer of 8 classes of Asset Backed Notes. The notes are serviced in accordance with the Sale and Servicing Agreement, dated as of October 1, 1997, as amended. The parties to the Sale and Servicing Agreement are: Chase Manhattan Bank USA, National Association, as a seller, The Chase Manhattan Bank, as seller, and The CIT Group/Sales Financing, Inc., as servicer. On December 15, 1999, CIT as servicer, distributed monthly interest to the holders of the notes. CIT furnished copies of the monthly reports for each of those series as required by the Sale and Servicing Agreement. Copies of those monthly reports are being filed as Exhibit 20.1 to this Current Report on Form 8-K. Item 7(c). Exhibits Exhibits Description -------- ----------- 20.1 Monthly Report with respect to the December 15, 1999 distribution SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Dated: December 23, 1999 THE CIT GROUP/SALES FINANCING, INC., as Servicer By: /s/ Frank Garcia --------------------------- Name: Frank Garcia Title: Vice President INDEX TO EXHIBITS ----------------- Exhibit No. Description - ----------- ----------------- 20.1 Monthly Report with respect to the December 15, 1999 distribution EX-20.1 2 MONTHLY REPORT WITH RESPECT TO THE DECEMBER 15, 1999 DISTRIBUTION CHASE MANHATTAN MARINE OWNER TRUST 1997-A MONTHLY SERVICER'S REPORT Settlement Date 11/30/1999 Determination Date 12/10/1999 Distribution Date 12/15/1999 I. All Payments on the Contracts 4,537,578.02 II. All Liquidation Proceeds on the Contracts with respect to Principal 93,125.44 III. Repurchased Contracts 0.00 IV. Investment Earnings on Collection Account 0.00 V. Servicer Monthly Advances 99,439.61 VI. Distribution from the Reserve Account 45,270.33 VII. Deposits from the Pay-Ahead Account (including Investment Earnings) 10,410.87 VIII. Transfers to the Pay-Ahead Account (12,874.56) IX. Less: Investment Earnings distributions (a) To Sellers with respect to the Collection Account 0.00 (b) To Sellers with respect to the Pay-Ahead Account -598.75 Total available amount in Collection Account $4,772,350.96 ==============
DISTRIBUTION AMOUNTS COST PER $1000 - -------------------- -------------- 1. (a) Class A-1 Note Interest Distribution 0.00 (b) Class A-1 Note Principal Distribution 0.00 Aggregate Class A-1 Note Distribution 0.00000000 0.00 2. (a) Class A-2 Note Interest Distribution 0.00 (b) Class A-2 Note Principal Distribution 0.00 Aggregate Class A-2 Note Distribution 0.00000000 0.00 3. (a) Class A-3 Note Interest Distribution 13,548.62 (b) Class A-3 Note Principal Distribution 2,647,939.65 Aggregate Class A-3 Note Distribution 52.59858241 2,661,488.27 4. (a) Class A-4 Note Interest Distribution 194,270.83 (b) Class A-4 Note Principal Distribution 1,300,077.66 Aggregate Class A-4 Note Distribution 40.06296220 1,494,348.49 5. (a) Class A-5 Note Interest Distribution 156,755.00 (b) Class A-5 Note Principal Distribution 0.00 Aggregate Class A-5 Note Distribution 5.35000000 156,755.00 6. (a) Class A-6 Note Interest Distribution 128,375.00 (b) Class A-6 Note Principal Distribution 0.00 Aggregate Class A-6 Note Distribution 5.41666667 128,375.00 7. (a) Class B Note Interest Distribution 59,285.00 (b) Class B Note Principal Distribution 0.00 Aggregate Class B Note Distribution 5.56666667 59,285.00 8. (a) Class C Note Interest Distribution 98,822.83 (b) Class C Note Principal Distribution 0.00 Aggregate Class C Note Distribution 5.70833312 98,822.83 9. Servicer Payment (a) Servicing Fee 50,379.15 (b) Reimbursement of prior Monthly Advances 122,897.22 Total Servicer Payment 173,276.37 10. Deposits to the Reserve Account 0.00 TOTAL DISTRIBUTION AMOUNT FROM COLLECTION ACCOUNT $4,772,350.96 ============= RESERVE ACCOUNT DISTRIBUTIONS TO SELLERS (a) Amounts to the Sellers (Chase USA) from Excess Collections 0.00
Page 1 of 4 (b) Amounts to the Sellers (Chase Manhattan Bank) from Excess Collections 0.00 (c) Distribution from the Reserve Account to the Sellers (Chase USA) 48,090.02 (d) Distribution from the Reserve Account to the Sellers (Chase Manhattan Bank) 46,949.54 Total Amounts To Sellers (Chase USA & Chase Manhattan Bank) 95,039.56 =============
Payahead Account distributions to Sellers - -------------------------------------------- (a) Distribution from the Payahead Account to the Sellers (Chase USA) 302.9675 (b) Distribution from the Payahead Account to the Sellers (Chase Manhattan Bank) 295.7825 Total Amounts to Sellers (Chase USA & Chase Manhattan Bank) 598.75 INTEREST 1. Current Interest Requirement (a) Class A-1 Notes @ 5.845% 0.00 (b) Class A-2 Notes @ 0.06028 0.00 (c) Class A-3 Notes @ 6.140% 13,548.62 (d) Class A-4 Notes @ 6.250% 194270.83 (e) Class A-5 Notes @ 6.420% 156,755.00 (f) Class A-6 Notes @ 6.500% 128375 Aggregate Interest on Class A Notes 492949.45 (g) Class B Notes @ 0.0668 59285 (h) Class C Notes @ 0.0685 98822.83 2. Remaining Interest Shortfall (a) Class A-1 Notes 0.00 (b) Class A-2 Notes 0.00 (c) Class A-3 Notes 0.00 (d) Class A-4 Notes 0.00 (e) Class A-5 Notes 0.00 (f) Class A-6 Notes 0 (g) Class B Notes 0.00 (h) Class C Notes 0.00 3. Total Distribution of Interest Cost per $1000 (a) Class A-1 Notes 0.00000000 0.00 (b) Class A-2 Notes 0 0.00 (c) Class A-3 Notes 0.26775929 13,548.62 (d) Class A-4 Notes 5.20833324 194270.83 (e) Class A-5 Notes 5.35000000 156,755.00 (f) Class A-6 Notes 5.41666667 128375 Total Aggregate Interest on Class A Notes 492949.45 (g) Class B Notes 5.566666667 59,285.00 - -------------------------------------------- (h) Class C Notes 5.71 98822.83 ----------- PRINCIPAL No. of Contracts 1. Amount of Stated Principal Collected 1285862.49 2. Amount of Principal Prepayment Collected 87.00 2301097.52 3. Amount of Liquidated Contract 23 361057.3 ---------- 4. Amount of Repurchased Contract 0 0.0000000 Total Formula Principal Distribution Amount 3,948,017.31 5. Principal Balance before giving effect to Principal Distribution Pool Factor (a) Class A-1 Notes 0.0000000 0.00 (b) Class A-2 Notes 0.0000000 0.00 (c) Class A-3 Notes 0.0523308 2,647,939.65 (d) Class A-4 Notes 1.0000000 37,300,000.00 (e) Class A-5 Notes 1.0000000 29,300,000.00 (f) Class A-6 Notes 1 23700000 (g) Class B Notes 1 10,650,000.00
Page 2 of 4 (h) Class C Notes 1 17,312,029.25 6. Remaining Principal Shortfall (a) Class A-1 Notes 0.00 (b) Class A-2 Notes 0.00 (c) Class A-3 Notes 0.00 (d) Class A-4 Notes 0.00 (e) Class A-5 Notes 0.00 (f) Class A-6 Notes 0 (g) Class B Notes 0.00 ------------------ (h) Class C Notes 0.00 7. Principal Distribution Cost per $1000 (a) Class A-1 Notes 0.00000000 0.00 (b) Class A-2 Notes 0.00000000 0.00 (c) Class A-3 Notes 52.33082312 2,647,939.65 (d) Class A-4 Notes 34.85462895 1,300,077.66 (e) Class A-5 Notes 0.00000000 0.00 (f) Class A-6 Notes 0 0 (g) Class B Notes 0 0.00 (h) Class C Notes 0 0.00 8. Principal Balance after giving effect to Principal Distribution Pool Factor (a) Class A-1 Notes 0.0000000 0.00 (b) Class A-2 Notes 0.0000000 0.00 (c) Class A-3 Notes 0.0000000 0.00 (d) Class A-4 Notes 0.9651454 35,999,922.34 (e) Class A-5 Notes 1.0000000 29,300,000.00 (f) Class A-6 Notes 1 23700000 (g) Class B Notes 1.0000000 10,650,000.00 - -------------------------------------------- (h) Class C Notes 1 17312029.25
POOL DATA Aggregate No. of Contracts Principal Balance 1. Pool Stated Principal Balance as of 36494 4,400 116,961,951.59 2. Delinquency Information % Delinquent (a) 31-59 Days 81 1,287,547.26 0.011008257 (b) 60-89 Days 19 166570.14 0.00142414 (c) 90-119 Days 11 161,048.60 0.001376932 (d) 120 Days+ 0 0.00 0 3. Contracts Repossessed during the Due Period 0 0.00 ------------ 4. Current Repossession Inventory 1 80,314.41 5. Aggregate Net Losses for the preceding Collection Period (a) Aggregate Principal Balance of Liquidated Receivables 23 361,057.30 (b) Net Liquidation Proceeds on any Liquidated Receivables 93,125.44 Total Aggregate Net Losses for the preceding Collection Period 267931.86 6. Aggregate Losses on all Liquidated Receivables (Year-To-Date) 1140434.82 7. Aggregate Net Losses on all Liquidated Receivables (Life-To-Date) 351 3946021.930 8. Weighted Average Contract Rate of all Outstanding Contracts 0.093431802 - -------------------------------------------- 9. Weighted Average Remaining Term to Maturity of all Outstanding Contracts 122.5723802
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TRIGGER ANALYSIS 1. (a) Average 60+ Delinquency Percentage 0.833% (b) Delinquency Percentage Trigger in effect? NO 2. (a) Average Net Loss Ratio 0.00087455 (b) Net Loss Ratio Trigger in effect? NO (c) Net Loss Ratio (using ending Pool Balance) 0.001349629 (a) Servicer Replacement Percentage 0.001315769 - -------------------------------------------- (b) Servicer Replacement Trigger in effect? NO MISCELLANEOUS 1. Monthly Servicing Fees 50,379.15 2. Servicer Advances 99439.61 3. (a) Opening Balance of the Reserve Account 5440948.6 (b) Deposits to the Reserve Account 0 (c) Investment Earnings in the Reserve Account 24601.88 (d) Distribution from the Reserve Account -140309.89 (e) Ending Balance of the Reserve Account 5325240.59 4. Specified Reserve Account Balance 5325240.59 5. (a) Opening Balance in the Pay-Ahead Account 76691.16
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