EX-21.1 3 w58595hexv21w1.txt MONTHLY SERVICER'S CERTIFICATE DATED JUNE 12, 2002 ASSET-BACKED FINANCING FACILITY ADVANTA BUSINESS SERVICES CORP., AS SERVICER MONTHLY SERVICER CERTIFICATE COLLECTION PERIOD: May 1, 2002 - May 31, 2002 SETTLEMENT DATE: 17-Jun-02 A. SERIES INFORMATION ADVANTA LEASING RECEIVABLES CORP. VIII AND ADVANTA LEASING RECEIVABLES CORP. IX EQUIPMENT RECEIVABLES ASSET-BACKED NOTES, SERIES 1999-1 I. SERIES INFORMATION INCLUDING PLEDGED PROPERTY CONVEYED (a.) Beginning Aggregate Contract Principal Balance $ 7,395,152.22 -------------- (b.) Contract Principal Balance of all Collections allocable to Contracts $ 748,466.64 -------------- (c.) Contract Principal Balance of Charged-Off Contracts $ 24,046.98 -------------- (e.) Ending Aggregate Contract Principal Balance of all Contracts as of this Settlement Date $ 6,622,638.60 -------------- BALANCES ON THIS SETTLEMENT DATE (d.) Class A Principal Balance as of this Settlement Date (Class A Note Factor) 0.0460294 $ 4,551,211.40 --------- -------------- (e1.) Ending Class A-1 Principal Balance 0.0000000 $ -- --------- -------------- (e2.) Ending Class A-2 Principal Balance 0.0000000 $ -- --------- -------------- (e3.) Ending Class A-3 Principal Balance 0.4818285 $ 4,551,211.40 --------- -------------- (f.) Ending Class B Principal Balance as of this Settlement Date (Class B Note Factor) 0.1785714 $ 2,071,427.21 --------- -------------- II. COMPLIANCE RATIOS (a.) Aggregate Contract Balance Remaining ("CBR") of all Contracts $ 6,983,055.26 -------------- (b.) CBR of Contracts 1 - 30 days delinquent $ 758,776.40 -------------- (c.) % of Delinquent Contracts 1- 30 days as of the related Calculation Date 10.87% -------------- (d.) CBR of Contracts 31 - 60 days delinquent $ 264,099.00 -------------- (e.) % of Delinquent Contracts 31- 60 days as of the related Calculation Date 3.78% -------------- (f.) CBR of Contracts 61 - 90 days delinquent $ 187,441.18 -------------- (g.) % of Delinquent Contracts 61- 90 days as of the related Calculation Date 2.68% -------------- (h.) CBR of Contracts > 91 days delinquent $ 58,386.59 -------------- (i.) % of Delinquent Contracts > 91 days as of the related Calculation Date 0.84% -------------- (j1.) % of Delinquent Contracts 31 days or more as of the related Calculation Date 7.30% -------------- (j2.) Month 2: Apr-02 8.30% --------- -------------- (j3.) Month 3: Mar-02 8.96% --------- -------------- (j4.) Three month rolling average % of Delinquent Contracts 31 days or more 8.19% -------------- (k1.) Net Charge-Off % for the related Collection Period (annualized 30/360) * 0.00% -------------- (k2.) Month 2: Apr-02 0.00% --------- -------------- (k3.) Month 3: Mar-02 0.00% --------- -------------- (k4.) Three month rolling average % for Defaulted Contracts 0.00% -------------- *Note: Current Month Net Charge-off % is negative 2.0341% reported as zero (May, 2002) Does the Cumulative Loss % exceed (l1.) The Loss Trigger Level % from Beginning Period to and including 12th Collection Period? Y or N n/a -------------- (l2.) The Loss Trigger Level % from 13th Collection Period to and including 24th Collection Period? Y or N. n/a -------------- (l3.) The Loss Trigger Level % from 25th Collection Period and thereafter? Y or N NO -------------- (m1.) Residual Realization for the related Collection Period 127.39% (m2.) Month 2: Apr-02 137.67% --------- -------------- (m3.) Month 3: Mar-02 130.87% --------- -------------- (m4.) Three month rolling average Residual Realization Ratio 131.98% -------------- (n.) Does the three month rolling Residual Realization ratio exceed 100% Y or N YES --------------

Page 1 of 3 25 III. FLOW OF FUNDS (1.) The amount on deposit in Available Funds $ 1,038,005.68 -------------- (2.) The prepayment amounts deposited, if any, by the Issuers' to the Collection Account for removal of defaulted contracts $ -- -------------- (3.) Total deposits in the Collection Account to be used as available funds on this Payment Date $ 1,038,005.68 -------------- (a.) To the Servicer, Unrecoverable Servicer Advances / Initial Unpaid Balance $ 16,198.49 -------------- (b.) To the Servicer, the Servicing Fee and miscellaneous amounts, if any $ 6,162.63 -------------- To Series 1999-1 Noteholders: (c.) To Class A, the total Class A Note Interest and Class A Overdue Interest for the related period $ 30,611.42 -------------- Interest on Class A-1 Notes $ -- ----------- Interest on Class A-2 Notes $ -- ----------- Interest on Class A-3 Notes $ 30,611.42 ----------- (d.) Interest on Class B Notes for the related period $ 12,549.40 -------------- (e.) To Series 1999-1Noteholders: To Class A, the total applicable Principal Payment $ 772,513.62 -------------- Principal Payment to Class A-1 Noteholders $ -- ----------- Principal Payment to Class A-2 Noteholders $ -- ----------- Principal Payment to Class A-3 Noteholders $772,513.62 ----------- To Class B for applicable Principal Payment to the extent of the Class B Floor $ -- -------------- (f.) To the Reserve Account : The amount needed to increase the amount in the Reserve Account to the Required Reserve $ -- -------------- (g.) Upon the occurrence of a Residual Event the lesser of: (A) the remaining Available Funds and $ -- ----------- (B) the aggregate amount of Residual Receipts included in Available Funds. $ -- ----------- To be deposited to the Residual Account $ -- -------------- (h.) To the Issuers, as owner of the Pledged Assets, any remaining Available Funds on deposit in the Collection Account (the "Issuers' Interest") $ 199,970.13 -------------- IV. SERVICER ADVANCES (a.) Aggregate amount of Servicer Advances at the beginning of the Collection Period $ 219,026.94 -------------- (b.) Servicer Advances reimbursed during the Collection Period $ 13,139.70 -------------- (c.) Amount of unreimbursed Service Advances to be reimbursed on the Settlement Date $ 16,198.49 -------------- (d.) Servicer Advances made during the related Collection Period $ -- -------------- (e.) Aggregate amount of Servicer Advances at the end of the Collection Period $ 189,688.75 -------------- (f.) Amount of delinquent Scheduled Payments for which Servicer Advances were not made $ -- -------------- V. RESERVE ACCOUNT (a.) Amount on deposit at the beginning of the related Collection Period $ 1,104,761.18 -------------- (b.) Amount of interest earnings reinvested for the related Monthly Period $ 1,619.73 -------------- (c.) Amounts used to cover shortfalls, if any, for the related Collection Period $ -- -------------- (d.) Amounts transferred from the Collection Account, if applicable $ -- -------------- (e.) Balance remaining before calculating Required Reserve Amount $ 1,106,380.91 -------------- (f.) Required Reserve Amount needed as of the related Collection Period $ 1,104,761.18 -------------- (g1.) If (e) above is greater than (f), then excess amount to be transferred to the Series Obligors $ 1,619.73 -------------- (g2.) If (e) is greater than (d), then amount of shortfall (h.) Amounts on deposit at the end of the related Collection Period (e minus g1) $ 1,104,761.18 -------------- (i.) Is the Required Reserve Amount equal to the balance in the Reserve Account as of the related Collection period? Y or N YES -------------- VI. RESIDUAL ACCOUNT (a.) Amount on deposit at the beginning of the related Collection Period $ -- -------------- (b.) Amounts transferred from the Collection Account $ -- -------------- (c.) Amounts used to cover shortfalls for the related Collection Period $ -- -------------- (d.) Amount on deposit at the end of the related Collection Period $ -- --------------

Page 2 of 3 26 VII. ADVANCE PAYMENTS (a.) Beginning aggregate Advance Payments $ 142,567.69 (b.) Add: Amount of Advance Payments collected during the related Collection Period $ 80,856.17 -------------- (c.) Add: Investment earnings for the related Collection Period $ -- -------------- (d.) Less: Amount of Advance Payments withdrawn for deposit into Facility Account $ 100,949.06 -------------- (e.) Ending aggregate Advance Payments $ 122,474.80 --------------

ADVANTA BUSINESS SERVICES CORP., AS SERVICER BY: /s/ Mark Shapiro TITLE: Asst. Treasurer DATE: 06/12/02 -------------------------- Page 3 of 3

ADVANTA BUSINESS SERVICES CORP 8-K