Form 10-D Ford Credit Auto Lease Trust 2019-b

Asset-Backed Issuer Distribution Report [Section 13 or 15(d) of the Securities Exchange Act of 1934]

Published: 2019-08-26 16:23:22
Submitted: 2019-08-26
Period Ending In: 2019-07-31
fcalt2019-b10xdform_july20.htm 10-D




 
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 monthly distribution period from
July 1, 2019
to
July 31, 2019
Commission File Number of issuing entity: 333-231819-03

Central Index Key Number of issuing entity: 0001781819
Ford Credit Auto Lease Trust 2019-B
(Exact name of issuing entity as specified on its charter)
Commission File Number of depositor: 333-231819
Central Index Key Number of depositor: 0001519881
Ford Credit Auto Lease Two LLC
(Exact name of depositor as specified on its charter)
Central Index Key Number of sponsor: 0000038009
Ford Motor Credit Company LLC
(Exact name of sponsor as specified in its charter)
Ryan M. Hershberger, Phone: 313-594-3495
(Name and telephone number, including area code, of the person to contact in connection with this filing)
Delaware
(State or jurisdiction of incorporation or organization of the issuing entity)
84-6521321
(I.R.S. Employer Identification No.)
c/o BNY Mellon Trust of Delaware
301 Bellevue Parkway, 3rd Floor
Wilmington, Delaware
(Address of principal executive offices)
         
     
19809
               
 
  (zip code)
(302) 791-3610
(Telephone Number, including area code)
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))
Class A-1 Notes
 
 
X
 
Class A-2a Notes
 
 
X
 
Class A-2b Notes
 
 
X
 
Class A-3 Notes
 
 
X
 
Class A-4 Notes
 
 
X
 
Class B Notes
 
 
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
o
 





PART I - DISTRIBUTION INFORMATION

Item 1. Distribution and Pool Performance Information.

Distribution and performance information of the asset pool of the issuing entity is set forth in the attached Monthly Investor Report.

Item 1A. Asset-Level Information

The asset-level data for the asset pool of the issuing entity included in Exhibit 102 to the Form ABS-EE filed by the issuing entity with the U.S. Securities and Exchange Commission on August 20, 2019 (the “
Form ABS-EE
”) is incorporated into this Form 10-D by reference.

The additional asset-level information or explanatory language for the asset pool of the issuing entity included in Exhibit 103 to the Form ABS-EE is also incorporated into this Form 10-D by reference.


PART II - OTHER INFORMATION

Item 10. Exhibits.

(a) Documents filed as part of this report:
Exhibit 99
 
 











SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Servicer, on behalf of the issuing entity, has duly caused this report to be signed by the undersigned duly authorized.
 
Ford Credit Auto Lease Trust 2019-B
 
(Issuing entity)
 
 
 
By: Ford Motor Credit Company LLC (Servicer)
 
 
 
 /s/ Ryan M. Hershberger
 
Ryan M. Hershberger
 
Assistant Treasurer
Date:
August 26, 2019




fcalt2019-binvestorreporte.htm EXHIBIT 99




Exhibit 99
Ford Credit Auto Lease Trust 2019-B
Monthly Investor Report
Transaction Month
1

 
Payment Date
August 15, 2019
Collection Period
July, 2019

 
 
 
Additional information about the structure, cashflows, defined terms and parties for this transaction can be found in the prospectus, available on the SEC website (http://sec.report) under the registration number 333-231819-03
 and at https://www.ford.com/finance/investor-center/asset-backed-securitization.
 
I. SUMMARY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Initial
 
Beginning of Period Balance
 
End of Period Balance
 
End of Period Factor
2019-B Reference Pool Balance
 
$
1,248,449,044.72

 
$
1,248,449,044.72
 
 
$
1,231,883,469.65
 
 
0.9867311

Total Note Balance
 
$
1,108,610,000.00

 
$
1,108,610,000.00
 
 
$
1,085,355,261.79
 
 
0.9790235

 
 
 
 
 
 
 
 
 
Total Overcollateralization
 
$
139,839,044.72

 
$
139,839,044.72
 
 
$
146,528,207.86
 
 
 
 
 
 
 
 
 
 
 
 
2019-B Exchange Note Balance
 
$
1,142,896,907.22

 
$
1,142,896,907.22
 
 
$
1,119,852,424.68
 
 
0.9798368

2019-B Exchange Note Overcollateralization
$
105,552,137.50

 
$
105,552,137.50
 
 
$
112,031,044.97
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Overcollateralization
 
 
 
 
Beginning of Period
 
 
End of Period
 
 
2019-B Reference Pool Balance as a % of Total Note Balance
 
 
112.61
%
 
 
113.50
%
 
 
2019-B Reference Pool Balance as a % of 2019-B Exchange Note Balance
109.24
%
 
 
110.00
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note Interest Rate
 
Initial Balance
 
Beginning of Period Balance
 
End of Period Balance
 
End of Period Factor
Class A-1 Notes
2.28650
%
 
$
200,000,000.00

 
$
200,000,000.00
 
 
$
176,745,261.79
 
 
0.8837263

Class A-2a Notes
2.28000
%
 
$
275,000,000.00

 
$
275,000,000.00
 
 
$
275,000,000.00
 
 
1.0000000

Class A-2b Notes*
2.49700
%
 
$
125,000,000.00

 
$
125,000,000.00
 
 
$
125,000,000.00
 
 
1.0000000

Class A-3 Notes
2.22000
%
 
$
325,000,000.00

 
$
325,000,000.00
 
 
$
325,000,000.00
 
 
1.0000000

Class A-4 Notes
2.27000
%
 
$
75,000,000.00

 
$
75,000,000.00
 
 
$
75,000,000.00
 
 
1.0000000

Class B Notes
2.36000
%
 
$
56,180,000.00

 
$
56,180,000.00
 
 
$
56,180,000.00
 
 
1.0000000

Class C Notes
2.56000
%
 
$
52,430,000.00

 
$
52,430,000.00
 
 
$
52,430,000.00
 
 
1.0000000

Total
 
 
$
1,108,610,000.00

 
$
1,108,610,000.00
 
 
$
1,085,355,261.79
 
 
0.9790235

 
Principal Payments
 
 Interest Payments
 
Total Payments
 
Actual
 
 Principal Payments per $1000 Face
 
Actual
 
Interest Payments per $1000 Face
 
Actual
 
Total Payments per $1000 Face
Class A-1 Notes
$
23,254,738.21

 
$
116.27

 
$
203,244.44

 
$
1.02

 
$
23,457,982.65

 
$
117.29

Class A-2a Notes
$
0.00

 
$
0.00

 
$
261,250.00

 
$
0.95

 
$
261,250.00

 
$
0.95

Class A-2b Notes
$
0.00

 
$
0.00

 
$
138,722.22

 
$
1.11

 
$
138,722.22

 
$
1.11

Class A-3 Notes
$
0.00

 
$
0.00

 
$
300,625.00

 
$
0.93

 
$
300,625.00

 
$
0.93

Class A-4 Notes
$
0.00

 
$
0.00

 
$
70,937.50

 
$
0.95

 
$
70,937.50

 
$
0.95

Class B Notes
$
0.00

 
$
0.00

 
$
55,243.67

 
$
0.98

 
$
55,243.67

 
$
0.98

Class C Notes
$
0.00

 
$
0.00

 
$
55,925.33

 
$
1.07

 
$
55,925.33

 
$
1.07

Total
$
23,254,738.21

 
$
20.98

 
$
1,085,948.16

 
$
0.98

 
$
24,340,686.37

 
$
21.96

II. POOL INFORMATION
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2019-B Reference Pool Balance
 
Lease Balance
**
 
Securitization Value
 
Residual Portion of Securitization Value
Beginning of Period
 
 
$
1,527,718,247.26

 
$
1,248,449,044.72

 
$
803,526,656.45

Change
 
 
 
$
(23,517,563.28
)
 
$
(16,565,575.07
)
 
$
2,549,030.35

         End of Period
 
 
$
1,504,200,683.98

 
$
1,231,883,469.65

 
$
806,075,686.80

Residual Portion of Securitization Value as % of Securitization Value at end of period
 
65.43
%
 
 
 
 
 
At Cutoff Date
 
Terminations in Prior Period
 
Beginning of Period
 
Terminations in Current Period
 
End of Period
Number of Leases
 
 
49,787

 
0

 
49,787

 
161

 
49,626

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning of Period
 
End of Period
Weighted Average Remaining Term to Maturity in Months
***
 
 
 
 
 
23.9

 
23.0


Page
1



Ford Credit Auto Lease Trust 2019-B
Monthly Investor Report
Transaction Month
1

 
Payment Date
August 15, 2019
Collection Period
July, 2019

 
 
 
Delinquent Leases
 
 
 
 
 
 
 
 
 
 
Number of Leases
 
Securitization Value
 
% of End of Period Reference Pool Balance
31 - 60 Days Delinquent
 
 
215

 
$
5,248,194.80

 
0.43
%
61 - 90 Days Delinquent
 
 
4

 
$
115,391.54

 
0.01
%
91- 120 Days Delinquent
 
 
0

 
$
0.00

 
0.00
%
Over 120 Days Delinquent
 
 
1

 
$
31,512.60

 
0.00
%
         Total Delinquent Leases
 
 
220

 
$
5,395,098.94

 
0.44
%
 
 
 
 
 
 
 
 
             Delinquency Trigger (61+ Delinquent Leases)
 
 
 
 
 
 
 
 
 
 
 
 
Transaction Month
Trigger
 
 
 
 
 
 
1-12
0.30%
 
 
 
 
 
 
13+
0.40%
 
 
 
 
 
 
          61+ Delinquent Leases Balance to EOP Pool Balance
 
 
 
0.0119%

Delinquency Trigger Occurred
 
 
 
 
 
 
No

 
 
 
 
 
 
 
 
 
 
 
Current Period
 
Cumulative
 
 
Prepayment Speed
 
 
0.30
%
 
0.30
%
 
 
 
 
 
 
 
 
 
 
III. EXCHANGE NOTE COLLECTIONS AND DISTRIBUTIONS
 
 
 
 
 
 
 
 
 
 
Collections
 
 
 
 
 
 
 
         Base monthly Payments (Rent)
 
 
 
 
 
 
$
22,279,199.95

         plus: Payoffs
 
 
 
 
 
 
$
4,047,083.06

         plus: Other (including extension fees, excess charges, etc.)
 
 
 
$
89,533.11

         minus: Payaheads
 
 
 
 
 
 
$
(901,132.25
)
         plus: Payahead Draws
 
 
 
 
 
 
$
384,386.40

         plus: Advances
 
 
 
 
 
 
$
617,624.63

         minus: Advance Reimbursement Amounts
 
 
 
 
 
$
(1,553,273.73
)
         plus: Administrative Reallocation Amounts
 
 
 
 
 
$
90,696.45

         plus: Net Sale Proceeds
 
 
 
 
 
 
$
336,181.37

         plus: Recoveries
 
 
 
 
 
 
$0.00
               Total Collections
 
 
 
 
 
 
$
25,390,298.99

 
 
 
 
 
 
 
 
         Reserve Account Draw Amount
 
 
 
 
 
$
0.00

 
 
 
 
 
 
 
 
               Total Collections Plus Reserve Account Draw Amount
 
 
 
$
25,390,298.99

 
 
 
 
 
 
 
 
Exchange Note Distributions
 
 
 
 
 
 
 
 
Amount Due
 
Amount Paid
 
Remaining Available Funds
 
Shortfall
Ref Pool Servicing Fee and Adv Reimbursement
$
1,040,374.20

 
$
1,040,374.20

 
$
24,349,924.79

 
$
0.00

2019-B Exchange Note Interest Payment
$
1,305,442.25

 
$
1,305,442.25

 
$
23,044,482.54

 
$
0.00

Shortfall Payment (to cover Notes)
$
0.00

 
$
0.00

 
$
23,044,482.54

 
$
0.00

Reserve Account Deposit
$
0.00

 
$
0.00

 
$
23,044,482.54

 
$
0.00

2019-B Exchange Note Principal Payment
$
47,764,049.48

 
$
23,044,482.54

 
$
0.00

 
$
(24,719,566.94
)
Shared Amounts
$
0.00

 
$
0.00

 
$
0.00

 
$
0.00

Excess Exchange Note Amounts
$
0.00

 
$
0.00

 
$
0.00

 
$
0.00

Total
$
50,109,865.93

 
$
25,390,298.99

 
$
0.00

 
$
(24,719,566.94
)

Page
2



Ford Credit Auto Lease Trust 2019-B
Monthly Investor Report
Transaction Month
1

 
Payment Date
August 15, 2019
Collection Period
July, 2019

 
 
 
IV. AVAILABLE FUNDS AND DISTRIBUTIONS
 
 
 
 
 
 
 
 
 
 
Available Funds
 
 
 
 
 
 
 
2019-B Exchange Note Interest Payment
 
 
 
 
 
 
$
1,305,442.25

2019-B Exchange Note Principal Payment
 
 
 
 
 
 
$
23,044,482.54

Shortfall Payment (to cover Notes)
 
 
 
 
 
 
$
0.00

Excess Exchange Note Amounts
 
 
 
 
 
 
$
0.00

 
 
 
 
 
 
 
 
Total
 
 
 
 
 
 
$
24,349,924.79

 
 
 
 
 
 
 
 
ABS Note Distributions
Amount Due
 
Amount Paid
 
Remaining Available Funds
 
Shortfall
Trustee Fees and Expenses
$
0.00

 
$
0.00

 
$
24,349,924.79

 
$
0.00

Administration Fee
$
9,238.42

 
$
9,238.42

 
$
24,340,686.37

 
$
0.00

Class A-1 Interest
$
203,244.44

 
$
203,244.44

 
$
24,137,441.93

 
$
0.00

Class A-2a Interest
$
261,250.00

 
$
261,250.00

 
$
23,876,191.93

 
$
0.00

Class A-2b Interest
$
138,722.22

 
$
138,722.22

 
$
23,737,469.71

 
$
0.00

Class A-3 Interest
$
300,625.00

 
$
300,625.00

 
$
23,436,844.71

 
$
0.00

Class A-4 Interest
$
70,937.50

 
$
70,937.50

 
$
23,365,907.21

 
$
0.00

Total Class A Interest
$
974,779.16

 
$
974,779.16

 
 
 
$
0.00

First Priority Principal Payment
$
0.00

 
$
0.00

 
$
23,365,907.21

 
$
0.00

Class B Interest
$
55,243.67

 
$
55,243.67

 
$
23,310,663.54

 
$
0.00

Second Priority Principal Payment
$
0.00

 
$
0.00

 
$
23,310,663.54

 
$
0.00

Class C Interest
$
55,925.33

 
$
55,925.33

 
$
23,254,738.21

 
$
0.00

Specified Reserve Deposit
$
0.00

 
$
0.00

 
$
23,254,738.21

 
$
0.00

Regular Principal Payment
$
47,764,049.48

 
$
23,254,738.21

 
$
0.00

 
$
(24,509,311.27
)
Additional Trustee Fees and Expenses
$
0.00

 
$
0.00

 
$
0.00

 
$
0.00

Remaining Funds to Holder of Residual Interest
$
0.00

 
$
0.00

 
$
0.00

 
$
0.00

Total
$
48,859,236.06

 
$
24,349,924.79

 
$
0.00

 
$
(24,509,311.27
)
 
 
 
 
 
 
 
 
V. RECONCILIATION OF ADVANCES AND PAYAHEADS
 
 
 
 
 
 
 
 
 
 
Advances
 
 
 
 
 
 
 
Beginning of Period Advance Balance
 
 
 
 
 
 
$
2,910,208.67

plus: Additional Advances
 
 
 
 
 
 
$
617,624.63

minus: Advance Reimbursement Amounts
 
 
 
 
 
 
$
(1,553,273.73
)
End of Period Advance Balance
 
 
 
 
 
 
$
1,974,559.57

 
 
 
 
 
 
 
 
Payaheads
 
 
 
 
 
 
 
Beginning of Period Payahead Balance
 
 
 
 
 
 
$
1,600,875.51

plus: Additional Payaheads
 
 
 
 
 
 
$
901,132.25

minus: Payahead Draws
 
 
 
 
 
 
$
(384,386.40
)
End of Period Payahead Balance
 
 
 
 
 
 
$
2,117,621.36

 
 
 
 
 
 
 
 
VI. RESERVE ACCOUNT
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning of Period Reserve Account Balance
 
 
 
 
 
 
$
3,121,122.61

minus: Reserve Account Draw
 
 
 
 
 
 
$
0.00

plus: Reserve Deposit from Exchange Note Distributions
 
 
 
 
 
$
0.00

plus: Reserve Deposit from Note Distributions
 
 
 
 
 
$
0.00

End of Period Reserve Account Balance
 
 
 
 
 
 
$
3,121,122.61

Memo: Required Reserve Amount
 
 
 
 
 
$
3,121,122.61

 
 
 
 
 
 
 
 
VII. OVERCOLLATERALIZATION INFORMATION
 
 
Targeted Overcollateralization Amount
 
 
 
 
 
$
171,037,519.13

Actual Overcollateralization Amount (EOP Pool Balance- EOP Note Balance)
 
 
 
$
146,528,207.86


Page
3



Ford Credit Auto Lease Trust 2019-B
Monthly Investor Report
Transaction Month
1

 
Payment Date
August 15, 2019
Collection Period
July, 2019

 
 
 
VIII. LEASE TERMINATIONS
 
 
 
 
 
 
 
 
Number of Leases
 
Securitization Value
Retained Vehicles
Current Period
 
Cumulative
 
Current Period
 
Cumulative
Early Terminations
144

 
144

 
$
3,346,326.61

 
$
3,346,326.61

Standard Terminations
1

 
1

 
$
10,087.11

 
$
10,087.11

Total Retained
145

 
145

 
$
3,356,413.72

 
$
3,356,413.72

 
 
 
 
 
 
 
 
Returned Vehicles
 
 
 
 
 
 
 
Early Terminations
12

 
12

 
$
283,918.30

 
$
283,918.30

Standard Terminations
0

 
0

 
$
0.00

 
$
0.00

Total Returned
12

 
12

 
$
283,918.30

 
$
283,918.30

 
 
 
 
 
 
 
 
Charged Off / Repossessed Vehicles
0

 
0

 
$
0.00

 
$
0.00

Removals by Servicer and Other
4

 
4

 
$
89,886.35

 
$
89,886.35

Total Terminations
161

 
161

 
$
3,730,218.37

 
$
3,730,218.37

 
 
 
 
 
 
 
 
Memo: 1) Removals of Leases Terminated in Prior Periods
0

 
0

 
 
 
 
2) Number of Leases Scheduled to Terminate
0

 
0

 
Current Period
 
Cumulative
Return Rate (Returned / Total Terminations)
 
 
 
 
7.45
%
 
7.45
%
Early Termination Rate (Early Terminations / Total Terminations)
 
 
 
 
96.89
%
 
96.89
%
 
 
 
 
 
 
 
 
Note: An Early Termination is a lease that terminates more than three months prior to the month in which it is scheduled to terminate.
 
 
 
 
 
 
 
 
IX. GAIN (LOSS) CALCULATIONS
Number of Leases
 
Gain (Loss)
 
Current Period
 
Cumulative
 
Current Period
 
Cumulative
Gain (Loss) on Retained Vehicles
 
 
 
 
 
 
 
Customer Payments
 
 
 
 
$
3,967,255.29

 
 
plus: Payahead draws
 
 
 
 
$
1,941.94

 
 
minus: Unreimbursed Advances
 
 
 
 
$
(13,008.48
)
 
 
minus: Securitization Value of Retained Vehicles
 
 
 
 
$
(3,356,413.72
)
 
 
Total
145

 
145

 
$
599,775.03

 
$
599,775.03

Gain (Loss) Per Retained Vehicle
 
 
 
 
$
4,136.38

 
$
4,136.38

 
 
 
 
 
 
 
 
Gain (Loss) on Returned Vehicles
 
 
 
 
 
 
 
Customer Payments
 
 
 
 
$
95,948.41

 
 
plus: Net Sale Proceeds
 
 
 
 
$
251,511.95

 
 
plus: Payahead Draws
 
 
 
 
$
470.76

 
 
minus: Unreimbursed Advances
 
 
 
 
$
(2,615.36
)
 
 
minus: Securitization Value of Returned Vehicles
 
 
 
 
$
(283,918.30
)
 
 
Total
12

 
12

 
$
61,397.46

 
$
61,397.46

Gain (Loss) Per Returned Vehicle
 
 
 
 
$
5,116.46

 
$
5,116.46

 
 
 
 
 
 
 
 
Credit Gain (Loss) Charged Off / Repo Vehicles
0

 
0

 
$
0.00

 
$
0.00

Credit Gain (Loss) Per Charged Off / Repo Vehicle
 
 
 
 
$
0.00

 
$
0.00

Recoveries
 
 
 
 
$
0.00

 
$
0.00

 
 
 
 
 
 
 
 
Total Gain (Loss)
157

 
157

 
$
661,172.49

 
$
661,172.49

Average Gain (Loss) on all Retained, Returned and Repo Vehicles
 
 
 
 
$
4,211.29

 
$
4,211.29

 
 
 
 
 
 
 
 
Removals by Servicer and Other
4

 
4

 
 
 
 
 
 
 
 
 
 
 
 
   Note: There is no Gain or Loss on Removals
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Memo: Residual Gain (Loss) on Returned Vehicles
 
 
 
 
 
 
 
Net Sale Proceeds
 
 
 
 
$
251,511.95

 
 
plus: Excess Wear and Use and Excess Mileage Assessed
 
 
 
 
$
10,324.86

 
 
minus: Residual Portion of Securitization Value
 
 
 
 
$
(206,571.12
)
 
 
Total
12

 
12

 
$
55,265.69

 
$
55,265.69

Residual Gain (Loss) Per Returned Vehicle
 
 
 
 
$
4,605.47

 
$
4,605.47


Page
4



Ford Credit Auto Lease Trust 2019-B
Monthly Investor Report
Transaction Month
1

 
Payment Date
August 15, 2019
Collection Period
July, 2019

 
 
 

Prior and Current Collection Periods Average Gain (Loss)
 
 
 
 
 
Percent
Ratio of Total Gain (Loss) to the Average Pool Balance (annualized)
 
 
 
 
Third Prior Collection Period
 
 
 
 
 
 
0.00%
Second Prior Collection Period
 
 
 
 
 
 
N/A
Prior Collection Period
 
 
 
 
 
 
N/A
Current Collection Period
 
 
 
 
 
 
0.64%
Four Month Average (Current and Prior Three Collection Periods)
 
N/A
 
 
 
 
 
 
 
 
Ratio of Cumulative Total Gain (Loss) for all Collection Periods to Initial Pool Balance
 
0.05%

X. CREDIT RISK RETENTION INFORMATION
 
 
 
 
 
The fair value of the Notes and the Residual Interest on the Closing Date is summarized below.

 
 
 
 
 
 
Fair Value (in millions)

 
Fair Value (in percentage)

 
 
 
 
 
 
Class A Notes

$
1,000.0

 
76.9%
 
Class B Notes

$
56.2

 
4.3%
 
Class C Notes

$
52.4

 
4.0%
 
Residual Interest

$
191.4

 
14.7%
 
Total

$
1,299.7

 
100.0%
 
 
 
 
 
 
The Depositor must retain a Residual Interest with a fair value of at least 5% of the aggregate value of the Notes and Residual Interest, or $64.99 million, according to Regulation RR.

 
 
 
 
 

XI. FLOATING RATE BENCHMARK: BENCHMARK TRANSITION
 
 
 
 
Benchmark Transition Event:
 
N/A
 
 
 
 
 
Benchmark Replacement Date:

 
N/A

 
 
 
 
 
Unadjusted Benchmark Replacement: Benchmark
 
N/A
 
 
 
 
 
Replacement Adjustment:

 
N/A
 
 
 
 
 
Benchmark Replacement Conforming Changes:
 
N/A
 
 
 
 
 
 
 
 
 

XII. REPURCHASE DEMAND ACTIVITY (RULE 15Ga-1)
 
 
 
 
 
No activity to report
 
 
 
 
 
 
 
 
 
Most Recent Form ABS-15G for repurchase demand activity
 
 
 
 
 
 
 
 
 
Filed by: Ford Motor Credit Company LLC
 
 
 
 
CIK#: 0000038009
 
 
 
 
Date: February 6, 2019
 
 
 
 





Page
5



Ford Credit Auto Lease Trust 2019-B
Monthly Investor Report

Transaction Month
1

 
Payment Date
August 15, 2019
Collection Period
July, 2019

 
 
 

SERVICER CERTIFICATION
 
THIS REPORT IS ACCURATE IN ALL MATERIAL RESPECTS.
 
Ford Motor Credit Company LLC
 /s/ Ryan M. Hershberger
Assistant Treasurer
 
* Tranche A2b note interest rate is floating based on one-month LIBOR+0.26%
**Lease Balance is calculated similar to Securitization Value, but present values the base monthly payments and contract lease end value at the contract lease factor, without considering the base residual value or minimum discount rate.
***The Weighted Average is calculated based on Securitization Value.



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Additional Files
FileSequenceDescriptionTypeSize
0001781819-19-000004.txt   Complete submission text file   669844

© 2019 SEC.report
SEC CFR Title 17 of the Code of Federal Regulations.