EXHIBIT 99
AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC.
AMERICAN EXPRESS ISSUANCE TRUST
SERIES 2005-1
The undersigned, a duly authorized representative of American Express Travel
Related Services Company, Inc., as servicer ("TRS"), pursuant to the Transfer
and Servicing Agreement, dated as of May 19, 2005 (as may be amended and
supplemented, the "Agreement"), among AMERICAN EXPRESS RECEIVABLES FINANCING
CORPORATION V LLC, a Delaware limited liability company, as transferor, TRS, as
servicer and administrator, AMERICAN EXPRESS ISSUANCE TRUST, a statutory trust
created under the laws of the State of Delaware (the "Trust"), and THE BANK OF
NEW YORK, as Indenture Trustee (the "Indenture Trustee"), does hereby certify
that:
1. Capitalized terms used in this Certificate have their respective meanings
set forth in the Agreement or the Indenture, dated as of May 19, 2005 (as
amended or supplemented, the "Indenture"), between the Trust and the
Indenture Trustee, as supplemented by the Series 2005-1 Indenture
Supplement, dated as of September 16, 2005, between the Trust and the
Indenture Trustee (as amended and supplemented, the "Indenture Supplement"
and together with the Indenture, the "Indenture"), as applicable.
2. TRS is, as of the date hereof, the Servicer under the Agreement.
3. The undersigned is an Authorized Officer of the Servicer who is duly
authorized pursuant to the Agreement to execute and deliver this
Certificate to the Indenture Trustee.
4. This Certificate relates to the Payment Date occurring on January 16, 2007.
5. As of the date hereof, to the best knowledge of the undersigned, the
Servicer has performed in all material respects its obligations under the
Agreement and the Indenture through the Monthly Period preceding such
Payment Date and no material default in the performance of such obligations
has occurred or is continuing except as set forth in paragraph 6 below.
6. The following is a description of each material default in the performance
of the Servicer's obligations under the provisions of the Agreement known
to me to have been made by the Servicer through the Monthly Period
preceding such Payment Date, which sets forth in detail (i) the nature of
each such default, (ii) the action taken by the Servicer, if any, to remedy
each such default and (iii) the current status of each such default: None
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this
Certificate this 9th day of January 2007.
AMERICAN EXPRESS TRAVEL RELATED
SERVICES COMPANY, INC., as Servicer
By: /s/ Xxxxxxx X. Xxxxxxx
----------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Vice President
ABS Operations
AMERICAN EXPRESS ISSUANCE TRUST
SERIES 2005-1
MONTHLY REPORT
Monthly Period: 25-Nov-06 to 24-Dec-06
Record Date: 31-Dec-06
Payment Date: 16-Jan-07
TRUST ACTIVITY TRUST TOTALS
1. Number of days in Monthly Period 30
2. Beginning of Monthly Period Number of Accounts 7,161,431
3. Beginning of Monthly Period Principal Receivables, including any
additions or removals during the Monthly Period $8,038,142,715.71
3a. Addition of Principal Receivables $0.00
3b. Removal of Principal Receivables $0.00
4. Beginning of Monthly Period Invested Amount of Collateral
Certificates $0.00
5. Beginning of Monthly Period Excess Funding Amount $0.00
6. Beginning of Monthly Period Pool Balance $8,038,142,715.71
7. Beginning of Monthly Period Available Overconcentration Account
Amount $0.00
8. New Principal Receivables $8,444,256,731.90
9. Principal Collections $7,157,854,199.58
10. Gross Default Amount $20,223,046.11
11. End of Monthly Period Principal Receivables $9,304,322,201.92
12. End of Monthly Period Invested Amount of Collateral Certificates $0.00
13. End of Monthly Period Excess Funding Account Amount $0.00
14. End of Monthly Period Pool Balance $9,304,322,201.92
15. End of Monthly Period Required Pool Balance $1,200,000,000.00
16. End of Monthly Period Available Overconcentration
Account Amount $0.00
17. Required Overconcentration Account Amount $0.00
18. End of Monthly Period Number of Accounts 7,404,691
TRUST PERFORMANCE
1. Principal Collections $7,157,854,199.58
2. Principal Payment Rate 89.05%
3. Net Default Amount $14,675,787.85
4. Annualized Net Default Rate 1.92%
5. Finance Charge Collections $221,376,933.99
6. Trust Portfolio Yield (Net of Defaults) 27.03%
7. Delinquencies
31 - 60 Days Delinquent $148,876,812.17
61 - 90 Days Delinquent $41,744,010.88
90+ Days Delinquent $114,273,056.85
Total 30+ Days Delinquent $304,893,879.90
TRANSFEROR AMOUNT
1. Beginning of Monthly Period Pool Balance $8,038,142,715.71
2. Beginning of Monthly Period Nominal Liquidation Amount $1,200,000,000.00
3. Beginning of Monthly Period Transferor Amount $6,838,142,715.71
4. End of Monthly Period Pool Balance $9,304,322,201.92
5. End of Monthly Period Nominal Liquidation Amount $1,200,000,000.00
6. End of Monthly Period Transferor Amount $8,104,322,201.92
7. End of Monthly Period Required Transferor Amount $1,395,648,330.29
SERIES 2005-1 NOMINAL LIQUIDATION AMOUNT
1. Beginning of Monthly Period Series 2005-1 Nominal Liquidation
Amount $600,000,000.00
2. Reimbursement of previous reductions in the Series 2005-1 Nominal
Liquidation Amount $0.00
3. Investor Charge-offs $0.00
4. Reallocated Principal Collections $0.00
5. Principal Funding Account Balance $0.00
6. Payments of principal of the Series 2005-1 Notes $0.00
7. Reimbursement of previous reductions in the Series 2005-1 Nominal
Liquidation Amount $0.00
8. End of Monthly Period Series 2005-1 Nominal Liquidation Amount $600,000,000.00
REALLOCATION GROUP A ALLOCATIONS TRUST TOTAL GROUP TOTAL
1. Nominal Liquidation Amount $1,200,000,000.00
2. Finance Charge Collections $221,376,933.99 $33,048,967.92
3. Interest $5,781,173.34
4. Net Default Amount $2,190,922.22
5. Servicing Fee paid to the servicer $2,000,000.00
6. Additional Amounts $0.00
SERIES 2005-1 ALLOCATIONS
1. Reallocation Group Group A
2. Shared Excess Available Finance Charge Collections Group Group A
3. Shared Excess Available Principal Collections Group Group A
4. Principal Funding Account Balance $0.00
5. Series 2005-1 Floating Allocation Percentage 7.46%
6. Series 2005-1 Finance Charge Collections $16,524,483.96
7. Series 2005-1 Reallocation Group A Finance Charge Collections $16,512,830.63
8. Net Investment Proceeds from Principal Funding Account $0.00
9. Amounts withdrawn from the Accumulation Reserve Account $0.00
10. Series 2005-1 Available Finance Charge Collections $16,512,830.63
11. Series 2005-1 Allocation of Shared Excess Available Finance Charge
Collections $0.00
12. Series 2005-1 Determination Date 12/13/2006
13. Series 2005-1 Monthly Interest (15-Dec-06 to 15-Jan-07) $2,878,933.34
14. Series 2005-1 Servicing Fee paid to the servicer $1,000,000.00
15. Series 2005-1 Default Amount $1,095,461.11
16. Series 2005-1 Principal Allocation Percentage 7.46%
17. Series 2005-1 Allocation of Principal Collections 534,291,648.16
18. Series 2005-1 Allocation of Shared Excess Available Principal
Collections $0.00
19. Series 2005-1 Allocation of amounts withdrawn from the
Overconcentration Account $0.00
APPLICATION OF SERIES 2005-1 AVAILABLE FINANCE CHARGE COLLECTIONS
1. Series 2005-1 Available Finance Charge Collections $16,512,830.63
2. Class A Notes ($558,000,000)
$2,668,480.00
a. Class A Monthly Interest (Note Interest Rate: 5.38000%)
b. Class A Outstanding Monthly Interest $0.00
c. Class A Additional Interest $0.00
d. Class A Outstanding Additional Interest $0.00
3. Class B Notes ($12,000,000)
$58,986.67
a. Class B Monthly Interest (Note Interest Rate: 5.53000%)
b. Class B Outstanding Monthly Interest $0.00
c. Class B Additional Interest $0.00
d. Class B Outstanding Additional Interest $0.00
4. Class C Notes ($30,000,000)
$151,466.67
a. Class C Monthly Interest (Note Interest Rate: 5.68000%)
b. Class C Outstanding Monthly Interest $0.00
c. Class C Additional Interest $0.00
d. Class C Outstanding Additional Interest $0.00
5. Series 2005-1 Servicing Fee paid to servicer $1,000,000.00
6. Amount equal to Series 2005-1 Default Amount treated as Series
2005-1 Available Principal Collections $1,095,461.11
7. Amount equal to unreimbursed reductions in the Series 2005-1 Nominal
Liquidation Amount treated as Series 2005-1 Available
Principal Collections $0.00
8. Deposited to the Accumulation Reserve Account $0.00
9. Deposited to the Class C Reserve Account $0.00
10. In the event of default and acceleration, amount up to the
outstanding dollar principal amount of the Series 2005-1 notes treated
as Series 2005-1 Available Principal Collections $0.00
11. Remaining amount treated as Shared Excess Available Finance Charge
Collections available for allocation to other series in Shared
Excess Available Finance Charge Collections Group A $11,538,436.18
12. Remaining amount paid to the holder of the
Transferor Interest $11,538,436.18
APPLICATION OF SHARED EXCESS AVAILABLE FINANCE CHARGE
COLLECTIONS ALLOCATED TO SERIES 2005-1
1. Shared Excess Available Finance Charge Collections $0.00
2. Applied to fund Class A Monthly Interest and Class A Additional
Interest and any past due Class A Monthly Interest and Class A
Additional Interest $0.00
3. Applied to fund Class B Monthly Interest and Class B Additional
Interest and any past due Class B Monthly Interest and Class B
Additional Interest $0.00
4. Applied to fund Class C Monthly Interest and Class C Additional
Interest and any past due Class C Monthly Interest and Class C
Additional Interest $0.00
5. Applied to unpaid Series 2005-1 Servicing Fee $0.00
6. Amount equal to Series 2005-1 Default Amount treated as Series 2005-1
Available Principal Collections $0.00
7. Amount equal to unreimbursed reductions in the Series 2005-1 Nominal
Liquidation Amount treated as Series 2005-1 Available
Principal Collections $0.00
8. Deposited to the Accumulation Reserve Account $0.00
9. Deposited to the Class C Reserve Account $0.00
10. In the event of default and acceleration, amount up to the
outstanding dollar principal amount of the Series 2005-1 Notes treated
as Series 2005-1 Available Principal Collections $0.00
11. Remaining amount treated as Shared Excess Available Finance Charge
Collections available to cover Series Available Finance Charge
Collections Shortfalls $0.00
12. Remaining amount paid to the holder of the
Transferor Interest $0.00
PRINCIPAL COLLECTIONS
1. Series 2005-1 Principal Allocation Percentage 7.46%
2. Series 2005-1 Principal Collections $534,291,648.16
3. Reallocated Principal Collections required to pay shortfalls in
interest on the Class A Notes or the Class B Notes or shortfalls in the
Series 2005-1 Servicing Fee and past due amounts thereon $0.00
4. Item 2 minus Item 3 $534,291,648.16
5. Other amounts treated as Series 2005-1 Available Principal
Collections $1,095,461.11
6. Series 2005-1 Available Principal Collections (total of items 4 and 5) $535,387,109.27
APPLICATION OF AVAILABLE PRINCIPAL COLLECTIONS
DURING REVOLVING PERIOD
1. Treated as Shared Excess Available Principal Collections $535,387,109.27
APPLICATION OF PRINCIPAL COLLECTIONS DURING
CONTROLLED ACCUMULATION PERIOD
1. Principal Funding Account $0.00
2. Treated as Shared Excess Available Principal Collections $0.00
APPLICATION OF PRINCIPAL COLLECTIONS DURING EARLY
AMORTIZATION PERIOD
1. Class A Noteholders $0.00
2. Class B Noteholders $0.00
3. Class C Noteholders $0.00
4. Treated as Shared Excess Available Principal Collections $0.00
APPLICATION OF SHARED EXCESS AVAILABLE PRINCIPAL COLLECTIONS
ALLOCATED TO SERIES 2005-1
1. Series 2005-1 Available Principal Collections Shortfall $0.00
2. Shared Excess Available Principal Collections $0.00
3. During the Controlled Accumulation Period:
3a. Amount deposited in the Principal Funding Account $0.00
4. During the Early Amortization Period:
4a. Paid to the Class A Noteholders $0.00
4b. Paid to the Class B Noteholders $0.00
4c. Paid to the Class C Noteholders $0.00
SERIES 2005-1 PRINCIPAL FUNDING, ACCUMULATION, CLASS C
RESERVE ACCOUNT
1. Principal Funding Account
Opening Balance $0.00
Additions $0.00
Withdrawals $0.00
Ending Balance $0.00
2. Investment Proceeds on Principal Funding Account $0.00
3. Accumulation Reserve Account Amount
Opening Balance $0.00
Additions $0.00
Withdrawals $0.00
Ending Balance $0.00
4. Accumulation Reserve Account target amount $0.00
5. Class C Reserve Account Amount
Opening Balance $0.00
Additions $0.00
Withdrawals $0.00
Ending Balance $0.00
6. Class C Reserve Account target amount $0.00
PORTFOLIO PERFORMANCE DATA
1. Series 2005-1 Portfolio Yield
Current Monthly Period 31.26%
Prior Monthly Period 29.96%
Second Prior Monthly Period 30.51%
2. Series 2005-1 Quarterly Portfolio Yield 30.58%
3. Series 2005-1 Base Rate
Current Monthly Period 7.40%
Prior Monthly Period 7.37%
Second Prior Monthly Period 7.37%
4. Series 2005-1 Quarterly Base Rate 7.38%
5. Series 2005-1 Excess Spread Percentage
Current Monthly Period 23.86%
Prior Monthly Period 22.59%
Second Prior Monthly Period 23.14%
6. Series 2005-1 Quarterly Excess Spread Percentage 23.20%
Is the Quarterly Excess Spread Percentage greater than the Required
Excess Spread Percentage? Yes
7. Principal Payment Rate
Current Monthly Period 89.05%
Prior Monthly Period 88.04%
Second Prior Monthly Period 86.07%
8. Quarterly Principal Payment Rate 87.72%
Is the Quarterly Principal Payment Rate greater than 60%? Yes
AMERICAN EXPRESS TRAVEL RELATED
SERVICES COMPANY, INC., as Servicer
By: /s/ Xxxxxxx X. Xxxxxxx
----------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Vice President
ABS Operations
MONTHLY SERVICER'S CERTIFICATE
AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC.
AMERICAN EXPRESS ISSUANCE TRUST
SERIES 2005-2
The undersigned, a duly authorized representative of American Express Travel
Related Services Company, Inc., as servicer ("TRS"), pursuant to the Transfer
and Servicing Agreement, dated as of May 19, 2005 (as may be amended and
supplemented, the "Agreement"), among AMERICAN EXPRESS RECEIVABLES FINANCING
CORPORATION V LLC, a Delaware limited liability company, as transferor, TRS, as
servicer and administrator, AMERICAN EXPRESS ISSUANCE TRUST, a statutory trust
created under the laws of the State of Delaware (the "Trust"), and THE BANK OF
NEW YORK, as Indenture Trustee (the "Indenture Trustee"), does hereby certify
that:
1. Capitalized terms used in this Certificate have their respective meanings
set forth in the Agreement or the Indenture, dated as of May 19, 2005 (as
amended or supplemented, the "Indenture"), between the Trust and the
Indenture Trustee, as supplemented by the Series 2005-2 Indenture
Supplement, dated as of September 16, 2005, between the Trust and the
Indenture Trustee (as amended and supplemented, the "Indenture Supplement"
and together with the Indenture, the "Indenture"), as applicable.
2. TRS is, as of the date hereof, the Servicer under the Agreement.
3. The undersigned is an Authorized Officer of the Servicer who is duly
authorized pursuant to the Agreement to execute and deliver this
Certificate to the Indenture Trustee.
4. This Certificate relates to the Payment Date occurring on January 16, 2007.
5. As of the date hereof, to the best knowledge of the undersigned, the
Servicer has performed in all material respects its obligations under the
Agreement and the Indenture through the Monthly Period preceding such
Payment Date and no material default in the performance of such obligations
has occurred or is continuing except as set forth in paragraph 6 below.
6. The following is a description of each material default in the performance
of the Servicer's obligations under the provisions of the Agreement known
to me to have been made by the Servicer through the Monthly Period
preceding such Payment Date, which sets forth in detail (i) the nature of
each such default, (ii) the action taken by the Servicer, if any, to remedy
each such default and (iii) the current status of each such default: None
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this
Certificate this 9th day of January 2007.
AMERICAN EXPRESS TRAVEL RELATED
SERVICES COMPANY, INC., as Servicer
By: /s/ Xxxxxxx X. Xxxxxxx
----------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Vice President
ABS Operations
AMERICAN EXPRESS ISSUANCE TRUST
SERIES 2005-2
MONTHLY REPORT
Monthly Period: 25-Nov-06 to 24-Dec-06
Record Date: 31-Dec-06
Payment Date: 16-Jan-07
TRUST ACTIVITY TRUST TOTALS
1. Number of days in Monthly Period 30
2. Beginning of Monthly Period Number of Accounts 7,161,431
3. Beginning of Monthly Period Principal Receivables, including any
additions or removals during the Monthly Period $8,038,142,715.71
3a. Addition of Principal Receivables $0.00
3b. Removal of Principal Receivables $0.00
4. Beginning of Monthly Period Invested Amount of Collateral
Certificates $0.00
5. Beginning of Monthly Period Excess Funding Amount $0.00
6. Beginning of Monthly Period Pool Balance $8,038,142,715.71
7. Beginning of Monthly Period Available Overconcentration Account
Amount $0.00
8. New Principal Receivables $8,444,256,731.90
9. Principal Collections $7,157,854,199.58
10. Gross Default Amount $20,223,046.11
11. End of Monthly Period Principal Receivables $9,304,322,201.92
12. End of Monthly Period Invested Amount of Collateral Certificates $0.00
13. End of Monthly Period Excess Funding Account Amount $0.00
14. End of Monthly Period Pool Balance $9,304,322,201.92
15. End of Monthly Period Required Pool Balance $1,200,000,000.00
16. End of Monthly Period Available Overconcentration
Account Amount $0.00
17. Required Overconcentration Account Amount $0.00
18. End of Monthly Period Number of Accounts 7,404,691
TRUST PERFORMANCE
1. Principal Collections $7,157,854,199.58
2. Principal Payment Rate 89.05%
3. Net Default Amount $14,675,787.85
4. Annualized Net Default Rate 1.92%
5. Finance Charge Collections $221,376,933.99
6. Trust Portfolio Yield (Net of Defaults) 27.03%
7. Delinquencies
31 - 60 Days Delinquent $148,876,812.17
61 - 90 Days Delinquent $41,744,010.88
90+ Days Delinquent $114,273,056.85
Total 30+ Days Delinquent $304,893,879.90
TRANSFEROR AMOUNT
1. Beginning of Monthly Period Pool Balance $8,038,142,715.71
2. Beginning of Monthly Period Nominal Liquidation Amount $1,200,000,000.00
3. Beginning of Monthly Period Transferor Amount $6,838,142,715.71
4. End of Monthly Period Pool Balance $9,304,322,201.92
5. End of Monthly Period Nominal Liquidation Amount $1,200,000,000.00
6. End of Monthly Period Transferor Amount $8,104,322,201.92
7. End of Monthly Period Required Transferor Amount $1,395,648,330.29
SERIES 2005-2 NOMINAL LIQUIDATION AMOUNT
1. Beginning of Monthly Period Series 2005-2 Nominal Liquidation
Amount $600,000,000.00
2. Reimbursement of previous reductions in the Series 2005-2 Nominal
Liquidation Amount $0.00
3. Investor Charge-offs $0.00
4. Reallocated Principal Collections $0.00
5. Principal Funding Account Balance $0.00
6. Payments of principal of the Series 2005-2 Notes $0.00
7. Reimbursement of previous reductions in the Series 2005-2 Nominal
Liquidation Amount $0.00
8. End of Monthly Period Series 2005-2 Nominal Liquidation Amount $600,000,000.00
REALLOCATION GROUP A ALLOCATIONS TRUST TOTAL GROUP TOTAL
1. Nominal Liquidation Amount $1,200,000,000.00
2. Finance Charge Collections $221,376,933.99 $33,048,967.92
3. Interest $5,781,173.34
4. Net Default Amount $2,190,922.22
5. Servicing Fee paid to the servicer $2,000,000.00
6. Additional Amounts $0.00
SERIES 2005-2 ALLOCATIONS
1. Reallocation Group Group A
2. Shared Excess Available Finance Charge Collections Group Group A
3. Shared Excess Available Principal Collections Group Group A
4. Principal Funding Account Balance $0.00
5. Series 2005-2 Floating Allocation Percentage 7.46%
6. Series 2005-2 Finance Charge Collections $16,524,483.96
7. Series 2005-2 Reallocation Group A Finance Charge Collections $16,536,137.29
8. Net Investment Proceeds from Principal Funding Account $0.00
9. Amounts withdrawn from the Accumulation Reserve Account $0.00
10. Series 2005-2 Available Finance Charge Collections $16,536,137.29
11. Series 2005-2 Allocation of Shared Excess Available Finance Charge
Collections $0.00
12. Series 2005-2 Determination Date 12/13/2006
13. Series 2005-2 Monthly Interest (15-Dec-06 to 15-Jan-07) $2,902,240.00
14. Series 2005-2 Servicing Fee paid to the servicer $1,000,000.00
15. Series 2005-2 Default Amount $1,095,461.11
16. Series 2005-2 Principal Allocation Percentage 7.46%
17. Series 2005-2 Allocation of Principal Collections 534,291,648.16
18. Series 2005-2 Allocation of Shared Excess Available Principal
Collections $0.00
19. Series 2005-2 Allocation of amounts withdrawn from the
Overconcentration Account $0.00
APPLICATION OF SERIES 2005-2 AVAILABLE FINANCE CHARGE COLLECTIONS
1. Series 2005-2 Available Finance Charge Collections $16,536,137.29
2. Class A Notes ($558,000,000)
$2,688,320.00
a. Class A Monthly Interest (Note Interest Rate: 5.42000%)
b. Class A Outstanding Monthly Interest $0.00
c. Class A Additional Interest $0.00
d. Class A Outstanding Additional Interest $0.00
3. Class B Notes ($12,000,000)
$60,053.33
a. Class B Monthly Interest (Note Interest Rate: 5.63000%)
b. Class B Outstanding Monthly Interest $0.00
c. Class B Additional Interest $0.00
d. Class B Outstanding Additional Interest $0.00
4. Class C Notes ($30,000,000)
$153,866.67
a. Class C Monthly Interest (Note Interest Rate: 5.77000%)
b. Class C Outstanding Monthly Interest $0.00
c. Class C Additional Interest $0.00
d. Class C Outstanding Additional Interest $0.00
5. Series 2005-2 Servicing Fee paid to servicer $1,000,000.00
6. Amount equal to Series 2005-2 Default Amount treated as Series
2005-2 Available Principal Collections $1,095,461.11
7. Amount equal to unreimbursed reductions in the Series 2005-2 Nominal
Liquidation Amount treated as Series 2005-2 Available
Principal Collections $0.00
8. Deposited to the Accumulation Reserve Account $0.00
9. Deposited to the Class C Reserve Account $0.00
10. In the event of default and acceleration, amount up to the
outstanding dollar principal amount of the Series 2005-2 notes treated
as Series 2005-2 Available Principal Collections $0.00
11. Remaining amount treated as Shared Excess Available Finance Charge
Collections available for allocation to other series in Shared
Excess Available Finance Charge Collections Group A $11,538,436.18
12. Remaining amount paid to the holder of the
Transferor Interest $11,538,436.18
APPLICATION OF SHARED EXCESS AVAILABLE FINANCE CHARGE
COLLECTIONS ALLOCATED TO SERIES 2005-2
1. Shared Excess Available Finance Charge Collections $0.00
2. Applied to fund Class A Monthly Interest and Class A Additional
Interest and any past due Class A Monthly Interest and Class A
Additional Interest $0.00
3. Applied to fund Class B Monthly Interest and Class B Additional
Interest and any past due Class B Monthly Interest and Class B
Additional Interest $0.00
4. Applied to fund Class C Monthly Interest and Class C Additional
Interest and any past due Class C Monthly Interest and Class C
Additional Interest $0.00
5. Applied to unpaid Series 2005-2 Servicing Fee $0.00
6. Amount equal to Series 2005-2 Default Amount treated as Series 2005-2
Available Principal Collections $0.00
7. Amount equal to unreimbursed reductions in the Series 2005-2 Nominal
Liquidation Amount treated as Series 2005-2 Available
Principal Collections $0.00
8. Deposited to the Accumulation Reserve Account $0.00
9. Deposited to the Class C Reserve Account $0.00
10. In the event of default and acceleration, amount up to the
outstanding dollar principal amount of the Series 2005-2 Notes treated
as Series 2005-2 Available Principal Collections $0.00
11. Remaining amount treated as Shared Excess Available Finance Charge
Collections available to cover Series Available Finance Charge
Collections Shortfalls $0.00
12. Remaining amount paid to the holder of the
Transferor Interest $0.00
PRINCIPAL COLLECTIONS
1. Series 2005-2 Principal Allocation Percentage 7.46%
2. Series 2005-2 Principal Collections $534,291,648.16
3. Reallocated Principal Collections required to pay shortfalls in
interest on the Class A Notes or the Class B Notes or shortfalls in the
Series 2005-2 Servicing Fee and past due amounts thereon $0.00
4. Item 2 minus Item 3 $534,291,648.16
5. Other amounts treated as Series 2005-2 Available Principal
Collections $1,095,461.11
6. Series 2005-2 Available Principal Collections (total of items 4 and 5) $535,387,109.27
APPLICATION OF AVAILABLE PRINCIPAL COLLECTIONS
DURING REVOLVING PERIOD
1. Treated as Shared Excess Available Principal Collections $535,387,109.27
APPLICATION OF PRINCIPAL COLLECTIONS DURING
CONTROLLED ACCUMULATION PERIOD
1. Principal Funding Account $0.00
2. Treated as Shared Excess Available Principal Collections $0.00
APPLICATION OF PRINCIPAL COLLECTIONS DURING EARLY
AMORTIZATION PERIOD
1. Class A Noteholders $0.00
2. Class B Noteholders $0.00
3. Class C Noteholders $0.00
4. Treated as Shared Excess Available Principal Collections $0.00
APPLICATION OF SHARED EXCESS AVAILABLE PRINCIPAL COLLECTIONS
ALLOCATED TO SERIES 2005-2
1. Series 2005-2 Available Principal Collections Shortfall $0.00
2. Shared Excess Available Principal Collections $0.00
3. During the Controlled Accumulation Period:
3a. Amount deposited in the Principal Funding Account $0.00
4. During the Early Amortization Period:
4a. Paid to the Class A Noteholders $0.00
4b. Paid to the Class B Noteholders $0.00
4c. Paid to the Class C Noteholders $0.00
SERIES 2005-2 PRINCIPAL FUNDING, ACCUMULATION, CLASS C
RESERVE ACCOUNT
1. Principal Funding Account
Opening Balance $0.00
Additions $0.00
Withdrawals $0.00
Ending Balance $0.00
2. Investment Proceeds on Principal Funding Account $0.00
3. Accumulation Reserve Account Amount
Opening Balance $0.00
Additions $0.00
Withdrawals $0.00
Ending Balance $0.00
4. Accumulation Reserve Account target amount $0.00
5. Class C Reserve Account Amount
Opening Balance $0.00
Additions $0.00
Withdrawals $0.00
Ending Balance $0.00
6. Class C Reserve Account target amount $0.00
PORTFOLIO PERFORMANCE DATA
1. Series 2005-2 Portfolio Yield
Current Monthly Period 31.31%
Prior Monthly Period 30.00%
Second Prior Monthly Period 30.55%
2. Series 2005-2 Quarterly Portfolio Yield 30.62%
3. Series 2005-2 Base Rate
Current Monthly Period 7.44%
Prior Monthly Period 7.41%
Second Prior Monthly Period 7.41%
4. Series 2005-2 Quarterly Base Rate 7.42%
5. Series 2005-2 Excess Spread Percentage
Current Monthly Period 23.87%
Prior Monthly Period 22.59%
Second Prior Monthly Period 23.14%
6. Series 2005-2 Quarterly Excess Spread Percentage 23.20%
Is the Quarterly Excess Spread Percentage greater than the Required
Excess Spread Percentage? Yes
7. Principal Payment Rate
Current Monthly Period 89.05%
Prior Monthly Period 88.04%
Second Prior Monthly Period 86.07%
8. Quarterly Principal Payment Rate 87.72%
Is the Quarterly Principal Payment Rate greater than 60%? Yes
AMERICAN EXPRESS TRAVEL RELATED
SERVICES COMPANY, INC., as Servicer
By: /s/ Xxxxxxx X. Xxxxxxx
----------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Vice President
ABS Operations
