Form 10-D CNH Equipment Trust 2018 For: Apr 30

May 16, 2022 11:10 AM EDT

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-D

 

ASSET-BACKED ISSUER

DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

 

For the distribution period from

April 1, 2022 to April 30, 2022

 

Commission File Number of issuing entity: 333-206749-08

Central Index Key Number of issuing entity: 0001750707

 

CNH EQUIPMENT TRUST 2018-B

(Exact name of issuing entity as specified in its charter)

 

Commission File Number of depositor: 333-38040

Central Index Key Number of depositor: 0001115252

 

CNH CAPITAL RECEIVABLES LLC

(Exact name of depositor as specified in its charter)

 

Central Index Key Number of sponsor: 0001540092

 

CNH INDUSTRIAL CAPITAL AMERICA LLC

(Exact name of sponsor as specified in its charter)

 

ERIC MATHISON (262) 636-6431

(Name and telephone number, including area code, of the person to contact in connection with this filing)

 

 

Delaware

(State or other jurisdiction of incorporation or organization of the issuing entity)

 

83-6314673

(I.R.S. Employer Identification No.)

 

6900 VETERANS BOULEVARD  
BURR RIDGE, ILLINOIS 60527-7111
(Address of principal executive offices of the issuing entity) (Zip Code)

 

(630) 887-5451

(Telephone number, including area code)

 

n/a

(Former name, former address, if changed since last report)

 

Registered/reporting pursuant to (check one)

 

Title of Class Section 12(b) Section 12(g) Section 15(d) Name of exchange
(If section 12(b)
Asset Backed Notes, Class A-1     X  
Asset Backed Notes, Class A-2     X  
Asset Backed Notes, Class A-3     X  
Asset Backed Notes, Class A-4     X  
Asset Backed Notes, Class B     X  
         

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No ¨

 

1

 

 

PART I – DISTRIBUTION INFORMATION

 

Item 1. Distribution and Pool Performance Information.

 

On May 16, 2022 a distribution was made to holders of notes of CNH Equipment Trust 2018-B.

 

The distribution report is attached as Exhibit 99.1 to this Form 10-D.

 

Neither the depositor nor the issuing entity has any activity or information to report for the monthly distribution period covered by this report pursuant to Form 10-D, Item 1121(c) of Regulation AB (17 CFR 229.1121) and Rule 15Ga-1(a) of the Securities Exchange Act of 1934.

 

The most recent Form ABS-15G filed by the sponsor was filed on January 14, 2022, and the CIK number for the sponsor is 0001540092.

 

 

PART II – OTHER INFORMATION

 

Item 10. Exhibits.

 

(a)The following is a list of documents filed as part of this Report on Form 10-D:

 

99.1Monthly report distributed to holders of notes of CNH Equipment Trust 2018-B, relating to May 16, 2022 distribution.

 

(b)The exhibits required to be filed by Registrant pursuant to Item 601 of Regulation S-K are listed above and in the Exhibit Index preceding the signature page hereof.

 

2

 

 

EXHIBIT INDEX

 

Exhibit Number

Description

  
99.1Monthly report distributed to holders of CNH Equipment Trust 2018-B, relating to the May 16, 2022 distribution.

 

 

 

 

SIGNATURES

 

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

 

 

   CNH CAPITAL RECEIVABLES LLC
   (Depositor)
    
    
Date: May 16, 2022  By: /s/ WENDY GALLION
     Name: Wendy Gallion
     Title Assistant Treasurer

 

 

 

 

Exhibit 99.1

 

CNH Equipment Trust 2018-B        
$181,000,000 Class A-1  2.47044% Asset Backed Notes due October 15, 2019        
$260,000,000 Class A-2  2.93000% Asset Backed Notes due December 15, 2021        
$280,000,000 Class A-3  3.1900% Asset Backed Notes due November 15, 2023        
$70,700,000 Class A-4  3.3700% Asset Backed Notes due May 15, 2024        
$18,230,000 Class B  3.5600% Asset Backed Notes due February 17, 2026        
                            
                 
Please contact Sandy Tomlinson at 262-636-7833 with any questions regarding this report or email [email protected]        
For additional information consult  http://cnhindustrialcapital.com/investor info        
        Cutoff Date   4/30/2022
        Date Added   8/31/2018      
        Pool Period Pool 1 Pool 2 Pool 3 Pool 4
      Scheduled Cashflows 0 2,983,695.97 0.00 0.00 0.00
          1 8,096,432.51 0.00 0.00 0.00
          2 10,022,027.66 0.00 0.00 0.00
          3 10,856,069.82 0.00 0.00 0.00
          4 4,033,057.61 0.00 0.00 0.00
          5 2,549,769.18 0.00 0.00 0.00
          6 2,993,486.93 0.00 0.00 0.00
          7 3,100,537.82 0.00 0.00 0.00
          8 4,153,558.03 0.00 0.00 0.00
          9 3,390,687.70 0.00 0.00 0.00
          10 3,507,345.17 0.00 0.00 0.00
          11 8,588,758.06 0.00 0.00 0.00
          12 9,917,445.60 0.00 0.00 0.00
          13 8,904,700.06 0.00 0.00 0.00
          14 8,584,318.57 0.00 0.00 0.00
          15 9,059,227.39 0.00 0.00 0.00
          16 2,006,899.53 0.00 0.00 0.00
          17 613,893.83 0.00 0.00 0.00
          18 780,246.71 0.00 0.00 0.00
          19 738,325.11 0.00 0.00 0.00
          20 1,294,857.28 0.00 0.00 0.00
          21 836,380.70 0.00 0.00 0.00
          22 693,302.14 0.00 0.00 0.00
          23 1,859,666.75 0.00 0.00 0.00
          24 2,473,818.12 0.00 0.00 0.00
          25 1,730,920.77 0.00 0.00 0.00
          26 1,547,246.44 0.00 0.00 0.00
          27 1,658,885.27 0.00 0.00 0.00
          28 458,241.41 0.00 0.00 0.00
          29 256,613.74 0.00 0.00 0.00
          30 400,948.35 0.00 0.00 0.00
          31 328,087.79 0.00 0.00 0.00
          32 750,047.16 0.00 0.00 0.00
          33 515,341.85 0.00 0.00 0.00
          34 379,456.23 0.00 0.00 0.00
          35 897,439.43 0.00 0.00 0.00
          36 1,137,164.51 0.00 0.00 0.00
          37 804,281.54 0.00 0.00 0.00
          38 611,642.05 0.00 0.00 0.00
          39 742,247.67 0.00 0.00 0.00
          40 38,134.14 0.00 0.00 0.00
          41 3,497.25 0.00 0.00 0.00
          42 0.00 0.00 0.00 0.00
          43 22,696.62 0.00 0.00 0.00
          44 10,902.70 0.00 0.00 0.00
          45 0.00 0.00 0.00 0.00
          46 0.00 0.00 0.00 0.00
          47 0.00 0.00 0.00 0.00
          48 0.00 0.00 0.00 0.00
          49 0.00 0.00 0.00 0.00
          50 0.00 0.00 0.00 0.00
          51 0.00 0.00 0.00 0.00
          52 0.00 0.00 0.00 0.00
          53 0.00 0.00 0.00 0.00
          54 0.00 0.00 0.00 0.00
          55 0.00 0.00 0.00 0.00
          56 0.00 0.00 0.00 0.00
          57 0.00 0.00 0.00 0.00
          58 0.00 0.00 0.00 0.00
          59 0.00 0.00 0.00 0.00
          60 0.00 0.00 0.00 0.00
          61 0.00 0.00 0.00 0.00
          62 0.00 0.00 0.00 0.00
          63 0.00 0.00 0.00 0.00
          64 0.00 0.00 0.00 0.00
          65 0.00 0.00 0.00 0.00
          66 0.00 0.00 0.00 0.00
          67 0.00 0.00 0.00 0.00
          68 0.00 0.00 0.00 0.00
          69 0.00 0.00 0.00 0.00
          70 0.00 0.00 0.00 0.00
          71 0.00 0.00 0.00 0.00
          72 0.00 0.00 0.00 0.00
          73 0.00 0.00 0.00 0.00
          74 0.00 0.00 0.00 0.00
          75 0.00 0.00 0.00 0.00
          76 0.00 0.00 0.00 0.00
          77 0.00 0.00 0.00 0.00
          78 0.00 0.00 0.00 0.00
          79 0.00 0.00 0.00 0.00
          80 0.00 0.00 0.00 0.00
          81 0.00 0.00 0.00 0.00
          82 0.00 0.00 0.00 0.00
          83 0.00 0.00 0.00 0.00
          84 0.00 0.00 0.00 0.00
          85 0.00 0.00 0.00 0.00
          86 0.00 0.00 0.00 0.00
                   
Total Amount of Scheduled Cashflow Total 124,332,303.17 0.00 0.00 0.00
Discount Rate   6.850% 6.850% 6.850% 6.850%
Beginning Contract Value   127,508,593.37 0.00 0.00 0.00
Scheduled Contract Value Decline   9,771,336.76 0.00 0.00 0.00
Unscheduled Contract Value Decline   1,122,141.37 0.00 0.00 0.00
Additional Contract Value Added   0.00 0.00 0.00 0.00
Ending Contract Value   116,615,115.24 0.00 0.00 0.00
aggregate Statistical Contract Value (Outstanding Balance)   121,224,314.45      

 

 2018-B Page 1

 

 

CNH Equipment Trust 2018-B          
$181,000,000 Class A-1  2.47044% Asset Backed Notes due October 15, 2019        
$260,000,000 Class A-2  2.93000% Asset Backed Notes due December 15, 2021        
$280,000,000 Class A-3  3.1900% Asset Backed Notes due November 15, 2023        
$70,700,000 Class A-4  3.3700% Asset Backed Notes due May 15, 2024          
$18,230,000 Class B  3.5600% Asset Backed Notes due February 17, 2026        
                              
                   
Dated Date (30/360)         4/15/2022      
Dated Date (act/360)         4/15/2022      
Scheduled Payment Date         5/15/2022      
Actual Payment Date         5/16/2022      
Days in accrual period (30/360)         30      
Days in accrual period (act/360)         31      
Note Distribution Account Deposit         $11,204,684.32      
Certificate Distribution Account deposit     $189,024.22      
First Principal Payment Amount         $10,893,478.13      
Turbo Principal Payment Amount (this period)     $0.00      
Note Monthly Principal Distributable Amount (1)     $10,893,478.13      
Spread Account Initial Deposit     $18,223,579.42      
Amount required to be deposited into the Collection Account during the calendar month $11,494,371.35      
                   
Collateral Summary                
Wtd. Average Discount Rate         6.850%      
Beginning Contract Value         127,508,593.37      
Scheduled Contract Value Decline         9,771,336.76      
Unscheduled Contract Value Decline         1,122,141.37      
Additional Contract Value Purchased         0.00      
Ending Contract Value         116,615,115.24      
                   
                   
Total Beginning Balance (Pool Balance)     127,508,593.37      
Pool Balance as of end of last day of preceding Collection Period 127,508,593.37      
Total Ending Balance (Pool Balance )         116,615,115.24      
                   
Purchase amount of Receivables purchased due to Modification Events in the related Collection Period $0.00      
Purchase amount of all other purchases and repurchases in the related Collection Period $0.00      
                   
Collections and Reinvestment Income            
Receipts During the period (net of servicer's liquidation expenses) $11,494,371.35      
                   
Warranty Repurchases                
    Contracts deferred beyond Final Scheduled Maturity Date   $0.00      
    Government obligors         $0.00      
          Total Warranty Repurchases         $0.00      
                   
Total Collections For The Period         $11,494,371.35      
                   
Reinvestment Income          $6,177.69      
                   
                   
Total Collections + Reinvestment Income For The Period    $11,500,549.04      
                   
(1)  “Following is a simplified summary of how the Note Monthly Principal Distributable Amount is calculated: The Note Monthly Principal Distributable Amount shown above with respect to any Payment Date will equal the amount necessary to be paid on the Notes to reduce the Outstanding Amount of the Notes — after giving effect to the application of the First Principal Payment Amount (set forth in the line above the “Note Monthly Principal Distributable Amount”) to reduce such Outstanding Amount — to an amount equal to the Pool Balance as of the beginning of the current Collection Period, less the Cumulative Turbo Principal Payment Amount (overcollateralization) as of the previous Payment Date; provided that (a) the Note Monthly Principal Distributable Amount shall not exceed the aggregate Outstanding Amount of the Notes (after giving effect to the application of the First Principal Payment Amount  to reduce such Outstanding Amount) and (b) on the final maturity date for each Class of Notes, the Note Monthly Principal Distributable  Amount will at least equal the amount necessary to repay the Outstanding Amount of that Class of Notes and of any other Class of Notes  payable prior to that Class of Notes (after giving effect to the application of the First Principal Payment Amount to reduce such  Outstanding Amount). For purposes of the preceding sentence, the A-1 Notes, A-2 Notes, A-3 Notes and the A-4 Notes shall each  be deemed to be a separate Class of Notes.  Please see the transaction documents previously filed with respect to this issuing entity under Form 8-K for details regarding all of the preceding calculations and for the definitions of defined terms.”        

 

 2018-B Page 2

 

 

CNH Equipment Trust 2018-B          
$181,000,000 Class A-1  2.47044% Asset Backed Notes due October 15, 2019        
$260,000,000 Class A-2  2.93000% Asset Backed Notes due December 15, 2021        
$280,000,000 Class A-3  3.1900% Asset Backed Notes due November 15, 2023        
$70,700,000 Class A-4  3.3700% Asset Backed Notes due May 15, 2024          
$18,230,000 Class B  3.5600% Asset Backed Notes due February 17, 2026        
                        
           
Actual Payment Date   General Party Receiving 5/16/2022      
      Purpose of Fee or Expense        
Calculation of Distributable Amounts Fee or Expense Amount        
            NO      
  Current Asset Representation Fee Due Provide for Asset Representations Reviewer $416.67      
  Past Due Asset Representations Fee as required Clayton Fixed Income  $0.00      
  Total Asset Representations Fee Due   Services LLC $416.67      
             
  CNH        CNH      
  Current Servicing Fee Due       $106,257.16      
  Past Due Servicing Fee       $0.00      
  Total Servicing Fee Due Provide for servicer as required NH Credit $106,257.16      
    Company LLC        
  Current Administration Fee Due       $500.00   $166.67      
  Past Due Administration Fee       $0.00      
  Total Administration Fee Due    Provide for trust administrator CNH Capital $166.67      
    America LLC        
  Reimbursable Expenses of the Asset Representations Reviewer Due $0.00      
  Past Due Reimburseable Expenses of the Asset Representations Reviewer $0.00      
  Total Reimbursable Expenses of the Asset Representations Reviewer Due   $0.00      
      To cover expenses of asset representations reviewer        
  Indemnities of the Asset Representations Reviewer Due   $0.00      
  Past Due Indemnities of the Asset Representations Reviewer    $0.00      
  Total Indemnities of the Asset Representations Reviewer Due   $0.00      
      To indemnify asset representations reviewer        
  Reimburseable Expenses of the Servicer Due     $0.00      
  Past Due Reimburseable Expenses of the Servicer   $0.00      
  Total Reimburseable Expenses of the Servicer Due To cover expenses of servicer NH Credit $0.00      
          Company LLC        
  Total Principal Balance of Notes (Beginning of Period)   $110,964,365.61      
  A-1 notes Beginning Principal balance     $0.00      
  A-2a notes Beginning Principal balance     $0.00      
  A-3a notes Beginning Principal balance     $22,034,365.61      
  A-4a notes Beginning Principal balance     $70,700,000.00      
  B notes Beginning Principal balance     $18,230,000.00      
      Coupon/ Swap Adj.          
    Type Spread Coupon Daycount        
  A-1 notes Current Interest Due Fix 2.47044% 2.47044% act/360 $0.00      
  A-2a notes Current Interest Due Fix 2.93000% 2.93000% 30/360 $0.00      
  A-3a notes Current Interest Due Fix 3.19000% 3.19000% 30/360 $58,574.69      
  A-4a notes Current Interest Due Fix 3.37000% 3.37000% 30/360 $198,549.17      
  B notes Current Interest Due Fix 3.56000% 3.56000% 30/360 $54,082.33      
                   
  A-1 notes Past Due Interest     $0.00      
  A-2a notes Past Due Interest     $0.00      
  A-3a notes Past Due Interest       $0.00      
  A-4a notes Past Due Interest       $0.00      
  B notes Past Due Interest       $0.00      
                   
  A-1 notes Interest Due on Past Due Interest     $0.00      
  A-2a notes Interest Due on Past Due Interest     $0.00      
  A-3a notes Interest Due on Past Due Interest     $0.00      
  A-4a notes Interest Due on Past Due Interest     $0.00      
  B notes Interest Due on Past Due Interest     $0.00      
                   
  A-1 notes Total Interest Due     $0.00      
  A-2a notes Total Interest Due     $0.00      
  A-3a notes Total Interest Due     $58,574.69      
  A-4a notes Total Interest Due     $198,549.17      
  B notes Total Interest Due     $54,082.33      
                   
  A-1 notes Principal Due     $0.00      
  A-2a notes Principal Due     $0.00      
  A-3a notes Principal Due   $10,893,478.13      
  A-4a notes Principal Due     $0.00      
                   
  Class B notes Principal Due         $0.00      
                   
  Total notes Interest Due         $311,206.19      
  Total notes Principal Due         $10,893,478.13      
  Total notes Distributable Amount         $11,204,684.32      
                   

 

 2018-B Page 3

 

 

CNH Equipment Trust 2018-B        
$181,000,000 Class A-1  2.47044% Asset Backed Notes due October 15, 2019        
$260,000,000 Class A-2  2.93000% Asset Backed Notes due December 15, 2021        
$280,000,000 Class A-3  3.1900% Asset Backed Notes due November 15, 2023        
$70,700,000 Class A-4  3.3700% Asset Backed Notes due May 15, 2024        
$18,230,000 Class B  3.5600% Asset Backed Notes due February 17, 2026        
                      
           
Actual Payment Date 5/16/2022      
           
Cash Available for Distribution        
  Total Collections + Reinvestment Income For The Period $11,500,549.04      
           
           
  Beginning Spread Account Balance $18,223,579.42      
  Deposits from Spread Account to Distribution Account $0.00      
           
           
  Total Cash Available $11,500,549.04      
           
Cash Allocation (Cashflow Waterfall)   Available    
      Cash    
  Asset Representation Reviewer Fee, Expenses and Indemnities up to a Maximum of $200,000.00  Per Year Paid $416.67      
  Asset Representation Reviewer Fee, Expenses and Indemnities up to a Maximum of $200,000.00  Per Year Paid Shortfall $0.00      
      11,500,132.37    
  Servicing Fee Paid  $106,257.16      
  Servicing Fee Shortfall $0.00      
      $11,393,875.21    
  Administration Fee Paid  $166.67      
  Administration Fee Shortfall $0.00      
      $11,393,708.54    
           
  Remaining Cash Available to Pay Note Interest & Swap Termination Payment   $11,393,708.54    
           
  Cash Available to Pay Note Interest $11,393,708.54      
  Cash Available to Pay Termination Payment $11,393,708.54      
           
  Class A-1 notes Interest Paid  $0.00      
  Class A-2a notes Interest Paid  $0.00      
  Class A-3a notes Interest Paid  $58,574.69      
  Class A-4a notes Interest Paid  $198,549.17      
      $11,136,584.68    
  Class A-1 notes Interest Shortfall $0.00      
  Class A-2a notes Interest Shortfall $0.00      
  Class A-3a notes Interest Shortfall $0.00      
  Class A-4a notes Interest Shortfall $0.00      
           
  First Principal Payment Amount $10,893,478.13      
           
           
  Class A-1 notes Principal Paid - excluding Turbo principal payment $0.00      
  Class A-2a notes Principal Paid $0.00      
  Class A-3a notes Principal Paid $10,893,478.13      
  Class A-4a notes Principal Paid $0.00      
      243,106.55    
  Class B notes Interest Paid $54,082.33      
  Class B notes Interest Shortfall $0.00      
           
  Class B notes Principal Paid $0.00      
      189,024.22    
  Deposits to Spread Account $0.00      
           
  Turbo Principal Payment Amount (this period) $0.00      
           
      189,024.22    
  Reimbursable Expenses of the Asset Representations Reviewer Paid $0.00      
  Reimbursable Expenses of the Asset Representations Reviewer Shortfall $0.00      
      $189,024.22    
  Reimbursable expenses of the Servicer Paid $0.00      
  Reimbursable expenses of the Servicer Shortfall $0.00      
      $189,024.22    
  Total Principal Balance of Notes  (End of Period) $100,070,887.48      
  A-1 notes Ending Principal balance $0.00      
  A-2a notes Ending Principal balance $0.00      
  A-3a notes Ending Principal balance $11,140,887.48      
  A-4a notes Ending Principal balance $70,700,000.00      
  B notes Ending Principal balance $18,230,000.00      
           
  Life-to-Date Turbo Principal Payment Amount (overcollateralization) $16,544,227.76      
           
  Release excess to the Certificateholders $189,024.22 $189,024.22    
           

 

 2018-B Page 4

 

 

CNH Equipment Trust 2018-B          
$181,000,000 Class A-1  2.47044% Asset Backed Notes due October 15, 2019        
$260,000,000 Class A-2  2.93000% Asset Backed Notes due December 15, 2021        
$280,000,000 Class A-3  3.1900% Asset Backed Notes due November 15, 2023        
$70,700,000 Class A-4  3.3700% Asset Backed Notes due May 15, 2024          
$18,230,000 Class B  3.5600% Asset Backed Notes due February 17, 2026        
                              
                   
Actual Payment Date         5/16/2022      
                   
Summary and Factors         Amount Factor Per/$1000
  Total Principal Balance of Notes (Beginning of Period)   $110,964,365.61 0.1370049 $137.00  
  A-1 notes Beginning Principal balance     $0.00 0.0000000 $0.00  
  A-2a notes Beginning Principal balance     $0.00 0.0000000 $0.00  
  A-3a notes Beginning Principal balance     $22,034,365.61 0.0786942 $78.69  
  A-4a notes Beginning Principal balance     $70,700,000.00 1.0000000 $1,000.00  
  B notes Beginning Principal balance     $18,230,000.00 1.0000000 $1,000.00  
                   
  Total Principal Balance of Notes (End of Period) WAL     $100,070,887.48 0.1235550 $123.55  
  A-1 notes Ending Principal balance 0.34 $181,000,000.00   $0.00 0.0000000 $0.00  
  A-2a notes Ending Principal balance 1.05 $260,000,000.00   $0.00 0.0000000 $0.00  
  A-3a notes Ending Principal balance 2.52 $280,000,000.00   $11,140,887.48 0.0397889 $39.79  
  A-4a notes Ending Principal balance 3.86 $70,700,000.00   $70,700,000.00 1.0000000 $1,000.00  
  B notes Ending Principal balance 3.89 $18,230,000.00   $18,230,000.00 1.0000000 $1,000.00  
                   
  Class A-1 notes Interest Paid     $0.00 0.0000000 $0.00  
  Class A-2a notes Interest Paid     $0.00 0.0000000 $0.00  
  Class A-3a notes Interest Paid     $58,574.69 0.0002092 $0.21  
  Class A-4a notes Interest Paid     $198,549.17 0.0028083 $2.81  
  Class B notes Interest Paid     $54,082.33 0.0029667 $2.97  
                   
  Class A-1 notes Interest Shortfall     $0.00 0.0000000 $0.00  
  Class A-2a notes Interest Shortfall     $0.00 0.0000000 $0.00  
  Class A-3a notes Interest Shortfall     $0.00 0.0000000 $0.00  
  Class A-4a notes Interest Shortfall     $0.00 0.0000000 $0.00  
  Class B notes Interest Shortfall     $0.00 0.0000000 $0.00  
                   
  Class A-1 notes Principal Paid - including Turbo principal payment   $0.00 0.0000000 $0.00  
  Class A-2a notes Principal Paid     $0.00 0.0000000 $0.00  
  Class A-3a notes Principal Paid         $10,893,478.13 0.0389053 $38.91  
  Class A-4a notes Principal Paid         $0.00 0.0000000 $0.00  
  Class B notes Principal Paid         $0.00 0.0000000 $0.00  
                   
                   
Spread Account                
  Required Spread Account Deposit (Add Loans)     2.25%   $0.00      
  Required Spread Account          $18,223,579.42      
  Beginning Spread Account Balance         $18,223,579.42      
  Spread Account Withdrawals to Distribution Account   $0.00      
  Spread Account Deposits from Excess Cash         $0.00      
  Spread Account Released to Seller         $0.00      
  Ending Spread Account Balance         $18,223,579.42      
                   
                   
          Original        
Purchases Units Cut-Off Date Closing Date Pool Balance        
                   
  Initial Purchase 19,120 8/31/18 9/26/18 809,936,863.12        
  Subsequent Purchase #1 0     0.00        
  Subsequent Purchase #2 0     0.00        
  Total 19,120     809,936,863.12        
                   
                   
  Total Release to Seller         $295,448.05      
                   
  "The Administrator hereby directs the Indenture Trustee to pay on the Payment Date set forth above from the Certificate         
  Distribution Account to the Certificateholders, on a pro rata basis, zero payment ."        
                   

 

 2018-B Page 5

 

 

POOL STATISTICS          
                   
Collateral Composition                
                   
  Number of Receivables at Beginning of Period                        7,433      
  Number of Receivables at End of Period 7,160      
                   
  Weighted Average Coupon on Receivables 3.53      
  Weighted Average Original Term on Receivables     65.60      
  Weighted Average Remaining Term on Receivables     18.53      
                   
  Pool Factor         0.12355      
  A-1 Note Pool Factor         0.00000      
  A-2a Note Pool Factor         0.00000      
  A-3a Note Pool Factor         0.03979      
  A-4a Note Pool Factor         1.00000      
  Class B Note Pool Factor         1.00000      
  Unscheduled Contract Value Decline - Monthly     1,122,141.37      
  Unscheduled Contract Value Decline - Life-to-Date   243,754,411.26      
  Call Factor - based on Ending Contract Value 14.40%      
                   
Collateral Performance                
  Contractural Delinquency (1):  Count % Amount %
  31-60 Days delinquent         56 0.78% 820,458.61 0.68%
  61-90 Days delinquent         7 0.10% 92,286.56 0.08%
  91-120 Days delinquent         5 0.07% 91,328.08 0.08%
  121-150 Days delinquent         2 0.03% 3,674.10 0.00%
  151-180 Days delinquent         3 0.04% 10,452.22 0.01%
  181 + Days delinquent         40 0.56% 1,241,570.18 1.02%
  TOTAL         113 1.58% 2,259,769.74 1.86%
  Amounts Past Due (2)                
  Scheduled Amounts 30 - 59 days past due $228,168.54 0.20%    
  Scheduled Amounts 60 days or more past due (3) $39,844.48 0.03%    
                   
  ARR Delinquency Trigger (61+ Days Delinquent Receivables)        
                   
  Period (from Cutoff Date )                
                   
  1-12 10.00%              
  13-48+ 16.00%         Variance Trigger  
                   
  End of Collection Period 61+ days delinquent Receivables as a percentage of the aggregate Statistical Contract Value 1.19% 8.8127% 10.00%  
                   
  Do end of Collection Period 61+ days delinquent Receivables as a percentage of the aggregate Statistical Contract Value meet or exceed the applicable ARR Delinquency Trigger percentage (did Delinquency Trigger occur)?                                             NO      
                   
  Net and Realized Losses     Amount Count (4)   %
                   
  Net Losses (5)         $226,779.47                             12   0.19%
  Write Down Amount on 180 Day Receivables     ($212.91)      
  Monthly Realized Losses (Total)         $226,566.56      
  Net Losses as a % of the Average Pool Balance     0.186%      
  Average Net Losses on all Receivables that have experienced a Net Loss this period $18,898.29      
                   
  Life-to-Date Net Losses          $6,007,523.14                           395    
  Cumulative Write Down Amount on 180 Day Receivables   $408,423.83      
  Cumulative Realized Losses (Total)       $6,415,946.97      
  Life-to-Date Net Losses as a % of the Initial Pool Balance   0.742%      
   Average Net Loss on all Receivables that have experienced a Net Loss   $15,208.92      
     Cumulative Net Loss Ratio       0.7922%      
                   
  Repossession Inventory and 180-Day Receivables          
  Repossessed Equipment not Sold or Reassigned (Beginning) (6)   $2,382,419.13      
  Repossessed Equipment not Sold or Reassigned (End)   $2,310,791.12      
                   
  Balance of 180 Day Receivables (Beg of month) (7)     $1,109,302.00      
  Balance of 180 Day Receivables (End of month)     $1,108,693.76      
                   
   (1) Delinquent amount represents, for all Receivables (including 180 Day and Repossessed Receivables, but excluding Liquidated or Purchased Receivables) with respect to which any amounts are delinquent, the outstanding principal balance plus any missed interest, with Repossessed Receivables stated at their estimated realizable value.        
   (2) Scheduled amount past due represents the amount of missed principal and interest payments plus any fees.        
   (3) This number is utilized to calculate Delinquency Ratio with respect to the Specified Spread Account Reduction Trigger.        
   (4) The sum of the monthly count of Receivables will not equal the life-to-date count of Receivables due to loss activity on the same Receivable occurring in multiple months. Duplicate Receivables  have been removed from the life-to-date count.        
   (5) Net Losses are the sum of (a) the estimated realizable loss at the time of repossession, (b) full charge-off if written off without a repossession and (c) adjustment to the estimated realizable loss for proceeds from the liquidation of  Repossessed Receivables.  Net Loss percentages and Average Net Losses are based on Net Losses excluding Write Down Amounts on 180-Day Receivables.        
   (6) Repossessd Receivables are stated at estimated realized value.        
   (7) Balance of 180- Day Receivables is stated at outstanding principal balance and any fees.        
                   
  STATEMENTS TO NOTEHOLDERS          
                   
1 Has there been a material change in practices with respect to charge offs, collection and management of delinquent Receivables, and the effect of any grace period,  re-aging, re-structuring, partial payments or other practices on delinquency and loss experience ? NO      
                   
                   
2 Have there been any material modifications, extensions or waivers to Receivables terms, fees, penalties or payments during the Collection Period ? NO      
                   
                   
3 Have there been any material breaches of representations, warranties or covenants contained in the Receivables ? NO      
                   
                   
4 Has there been an issuance of notes or other securities backed by the Receivables ? NO      
                   
                   
5 Has there been a material change in the underwriting, origination or acquisition of Receivables ? NO      
                   
                   
                   

 

 2018-B Page 6

 

 

         
Interest and principal Payments Pursuant to Section 5.6 (d) and (e) (II) of the sale and Servicing Agreement        
                                            Distribution Amount                                                             Class A-1 Notes      
  1.   Interest Due on each Payment Date (assuming no Principal Reduction)        
           
  10/15/2018        
  11/15/2018        
  12/17/2018        
  1/15/2019        
  2/15/2019        
  3/15/2019        
  4/15/2019        
  5/15/2019        
  6/17/2019        
  7/15/2019        
  8/15/2019        
  9/16/2019        
  10/15/2019        
           
  2. Total Outstanding Principal Payment Due at Final Scheduled Maturity Date 0.00      
  3.  Final Scheduled Maturity Date October 15, 2019      
           
                                            Distribution Amount                                                             Class A-2 Notes Class A-3 Notes Class A-4 Notes  
           
  1.   Interest Due on each  following Payment Date (assuming no Principal Reduction) 0.00 58,574.69 198,549.17  
           
  2. Total Outstanding Principal Payment Due at Final Scheduled Maturity Date 0.00 11,140,887.48 70,700,000.00  
  3.  Final Scheduled Maturity Date December 15, 2021 November 15, 2023 May 15, 2024  
           
           
                                            Distribution Amount                                                             Class B Notes      
           
  1.   Interest Due on each  following Payment Date (assuming no Principal Reduction) 54,082.33      
           
  2. Total Outstanding Principal Payment Due at Final Scheduled Maturity Date 18,230,000.00      
  3.  Final Scheduled Maturity Date February 17, 2026      

 

 2018-B Page 7

 



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