Item 1121 -- Distribution and Pool Performance Information
Describe the distribution for the related
distribution period and the performance of the asset pool
during the distribution period. Provide appropriate introductory and
explanatory information to introduce any material terms, parties or
abbreviations used (or a cross-reference to a Commission filing where
such information may be found). Present statistical information in
tabular or graphical format, if such presentation will aid understanding.
While the material information regarding the related distribution and pool
performance will vary depending on the nature of the transaction,
such information may include, among other things:
Any applicable record dates, accrual dates,
determination dates for calculating distributions and actual distribution
dates for the distribution period.
Cash flows received and the sources
thereof for distributions, fees and expenses (including portfolio yield, if applicable).
Calculated amounts and distribution of the flow
of funds for the period itemized by type and priority of payment, including:
Fees or expenses accrued and paid, with an
identification of the general purpose of such fees and the party receiving such
fees or expenses.
Payments accrued or paid with respect to enhancement
or other support identified in Item 1114 of this Regulation AB
(such as insurance premiums or other enhancement maintenance fees),
with an identification of the general purpose of such payments and
the party receiving such payments.
Principal, interest and other distributions accrued
and paid on the asset-backed securities by type and by class or series and
any principal or
interest shortfalls or carryovers.
The amount of excess cash flow or
excess spread and the disposition of excess cash flow.
Beginning and ending principal balances of the asset-backed
Interest rates applicable to the pool assets and the asset-backed
securities, as applicable. Consider providing interest rate information for
pool assets in
appropriate distributional groups or incremental ranges.
Beginning and ending balances of transaction accounts,
such as reserve accounts, and material account activity during the period.
Any amounts drawn on any credit enhancement or other support
identified in Item 1114 of this Regulation AB, as applicable, and the amount of
coverage remaining under any such enhancement, if known and applicable.
Number and amount of pool assets at the beginning and ending
of each period, and updated pool composition information, such as weighted
weighted average life, weighted average remaining term, pool factors and prepayment
amounts. For asset-backed securities backed by leases where a portion of the
securitized pool balance
is attributable to residual values of the physical property underlying the leases,
this information also would include turn-in rates and residual value realization
Delinquency and loss information for the period. In addition,
describe any material changes to the information specified in Item
1100(b)(5) of this
Regulation AB regarding the pool assets.
Information on the amount, terms and general purpose of
any advances made or reimbursed during the period, including the general use
of funds advanced
and the general source of funds for reimbursements.
Any material modifications, extensions or waivers to
pool asset terms, fees, penalties or payments during the distribution period
have cumulatively become material over time.
Material breaches of pool asset representations or warranties
Information on ratio, coverage or other tests used for
determining any early amortization, liquidation or other performance trigger
whether the trigger was met.
Information regarding any new issuance of asset-backed
securities backed by the same asset pool, any pool asset changes
(other than in connection with a pool asset converting into cash in
accordance with its terms), such as additions or removals in
connection with a prefunding or revolving period and pool asset
substitutions and repurchases (and purchase rates, if applicable),
and cash flows available for future purchases, such as the balances
of any prefunding or revolving accounts, if applicable. Disclose
any material changes in the solicitation, credit-granting,
underwriting, origination, acquisition or pool selection criteria or
procedures, as applicable, used to originate, acquire or select the new pool
During a prefunding or revolving period, or if there
has been a new issuance of asset-backed securities backed by the same pool
under a master trust
during the fiscal year of the issuing entity, provide the information required
by Items 1110, 1111 and 1112 of
this Regulation AB applied taking the revised pool
composition into account in the Form 10-D report (Rule 249.312 of this chapter)
for the last required distribution of the fiscal year of the issuing entity.
In addition, provide such updated information in the first Form 10-D report
for the period in which the prefunding or revolving period ends (if applicable).
However, no disclosure need be provided by this paragraph if the information
not materially changed from that previously provided in an Exchange Act report
relating to the asset-backed securities or in an effective registration statement
under the Securities Act or a prospectus timely filed pursuant to Rule
230.424 of this chapter under the same Central Index Key (CIK) code regarding
issuance of asset-backed securities backed by a pool of assets that includes
pool assets that are the subject of this paragraph.
Notice to Users: The Deskbook is made available
with the understanding that the University of Cincinnati College
of Law is not engaged in rendering legal, accounting or other professional
services. If legal advice or other expert assistance is required,
the services of a competent professional person should be sought. See Terms and Conditions of Use.