# EDGAR Filing Document

**Accession Number:** 0001844964
**File Stem:** 0001193125-23-047402
**Filing Date:** 2023-2
**Character Count:** 176311
**Document Hash:** 0cf73a4cc4d78b8c410046de55374ad9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-047402.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0001193125-23-047402

**CONFORMED SUBMISSION TYPE**: 10-D

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230224

**ABS ASSET CLASS**: Other

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Verizon Master Trust
- **CENTRAL INDEX KEY:** 0001844964
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **IRS NUMBER:** 866471965
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-253034-01
- **FILM NUMBER:** 23662239

**BUSINESS ADDRESS:**
- **STREET 1:** C/O WILMINGTON TRUST, NA
- **STREET 2:** 1100 NORTH MARKET STREET
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19890-1605
- **BUSINESS PHONE:** 866-829-1928

**MAIL ADDRESS:**
- **STREET 1:** C/O WILMINGTON TRUST, NA
- **STREET 2:** 1100 NORTH MARKET STREET
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19890-1605

**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 January 1, 2023 to January 31, 2023** 

**Commission File Number of issuing entity: 333-253034-01** 

**Central Index Key Number of issuing entity: 0001844964** 

## VERIZON MASTER TRUST
**(Exact name of issuing entity as specified in its charter)** 

**Commission File Number of depositor: 333-253034** 

**Central Index Key Number of depositor: 0001836995** 

## VERIZON ABS II LLC
**(Exact name of depositor as specified in its charter)** 

**Central Index Key Number of sponsor (if applicable): 0001175215** 

## CELLCO PARTNERSHIP
**(Exact name of sponsor as specified in its charter)** 

**Karrie E. Schweikert** 

**<u>908-559-5672</u>**

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

**<u>Delaware</u>**

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

**<u>23-2259884</u>**

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

---

| | |
|:---|:---|
| **One Verizon Way**<br> **<u>Basking Ridge, New Jersey</u>** | **<u>07920</u>** |
| **(Address of principal executive offices of the issuing entity)** | **(Zip Code)** |

---

**<u>212-395-1000</u>**

**(Telephone number including area code)** 

**<u>Not Applicable</u>**

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

Registered/reporting pursuant to (check one)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Title of class** | <br>**Section 12(b)** | <br>**Section 12(g)** | <br>**Section 15(d)** | **Name of<br>exchange**<br>**(If Section 12(b))** |
|  Series 2021-1, Fixed Rate Class A Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2021-1, Fixed Rate Class B Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2021-1, Fixed Rate Class C Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2021-2, Fixed Rate Class A Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2021-2, Fixed Rate Class B Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2021-2, Fixed Rate Class C Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-1, Fixed Rate Class A Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-1, Fixed Rate Class B Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-1, Fixed Rate Class C Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-2, Fixed Rate Class A Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-2, Fixed Rate Class B Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-2, Fixed Rate Class C Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-3, Fixed Rate Class A Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-3, Fixed Rate Class B Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-3, Fixed Rate Class C Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-4, Fixed Rate Class A Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-4, Fixed Rate Class B Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-4, Fixed Rate Class C Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-5, Fixed Rate Class A-1a Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-5, Floating Rate Class A-1b Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-5, Fixed Rate Class B Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-5, Fixed Rate Class C Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-6, Fixed Rate Class A Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-6, Fixed Rate Class B Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-6, Fixed Rate Class C Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-7, Fixed Rate Class A-1a Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-7, Floating Rate Class A-1b Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-7, Fixed Rate Class B Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2022-7, Fixed Rate Class C Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2023-1, Fixed Rate Class A Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2023-1, Fixed Rate Class B Notes | ☐ | ☐ | ☒ | <u> </u> |
|  Series 2023-1, Fixed Rate Class C Notes | ☐ | ☐ | ☒ | <u> </u> |

---

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 ☒ No ☐

------

**PART I — DISTRIBUTION INFORMATION** 

**Item 1.** **Distribution and Pool Performance Information.** <br>

Distribution and pool performance information with respect to the assets of Verizon Master Trust for the distribution period commencing on January 1, 2023 and ending on January 31, 2023 is set forth in the monthly investor reports relating to the February 21, 2023 distribution, which are attached to this Form 10-D as the Exhibits listed under Item 10 below.

There is no activity to report under Rule 15Ga-1(a) under the Securities Exchange Act of 1934 with respect to Verizon Master Trust for the distribution period commencing on January 1, 2023 and ending on January 31, 2023. Cellco Partnership (Central Index Key Number: 0001175215), as securitizer, most recently filed a Form ABS-15G on February 1, 2023 with respect to all asset-backed securities sponsored by it, including those securities issued by Verizon Master Trust.

**PART II — OTHER INFORMATION** 

**Item 10.** **Exhibits.** <br>

---

| | |
|:---|:---|
| Exhibit 99.1 | [Monthly investor report relating to the February 21, 2023 distribution (Verizon Master Trust).](d445457dex991.htm) |
| Exhibit 99.2 | [Monthly investor report relating to the February 21, 2023 distribution (Verizon Master Trust Series 2021-1).](d445457dex992.htm) |
| Exhibit 99.3 | [Monthly investor report relating to the February 21, 2023 distribution (Verizon Master Trust Series 2021-2).](d445457dex993.htm) |
| Exhibit 99.4 | [Monthly investor report relating to the February 21, 2023 distribution (Verizon Master Trust Series 2022-1).](d445457dex994.htm) |
| Exhibit 99.5 | [Monthly investor report relating to the February 21, 2023 distribution (Verizon Master Trust Series 2022-2).](d445457dex995.htm) |
| Exhibit 99.6 | [Monthly investor report relating to the February 21, 2023 distribution (Verizon Master Trust Series 2022-3).](d445457dex996.htm) |
| Exhibit 99.7 | [Monthly investor report relating to the February 21, 2023 distribution (Verizon Master Trust Series 2022-4).](d445457dex997.htm) |
| Exhibit 99.8 | [Monthly investor report relating to the February 21, 2023 distribution (Verizon Master Trust Series 2022-5).](d445457dex998.htm) |
| Exhibit 99.9 | [Monthly investor report relating to the February 21, 2023 distribution (Verizon Master Trust Series 2022-6).](d445457dex999.htm) |
| Exhibit 99.10 | [Monthly investor report relating to the February 21, 2023 distribution (Verizon Master Trust Series 2022-7).](d445457dex9910.htm) |
| Exhibit 99.11 | [Monthly investor report relating to the February 21, 2023 distribution (Verizon Master Trust Series 2023-1)](d445457dex9911.htm) |

---

------

**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.

Dated: February 24, 2023

---

| | |
|:---|:---|
| VERIZON MASTER TRUST | VERIZON MASTER TRUST |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Issuing Entity) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Issuing Entity) |
| By: | Cellco Partnership, |
|  | solely as servicer |
| By: | /s/ Kee Chan Sin |
|  | Name: Kee Chan Sin |
|  | Title: Vice President and Assistant Treasurer |

---

## Exhibit 99.1

**Exhibit 99.1** 

**Verizon Master Trust - VZMT** 

**Monthly Investor Report** 

Group Name One

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; Collection Period Beginning | 01/01/2023 |
| &nbsp;&nbsp;&nbsp; Collection Period End | 01/31/2023 |
| &nbsp;&nbsp;&nbsp; Previous Payment Date | 01/20/2023 |
| &nbsp;&nbsp;&nbsp; Payment Date | 02/21/2023 |
| &nbsp;&nbsp;&nbsp; Days in Collection Period | 31 |
| &nbsp;&nbsp;&nbsp; Days in Interest Period | 32 |
| &nbsp;&nbsp;&nbsp; Group Status at End of Previous Payment Date | Revolving |

---

---

| | |
|:---|:---|
| **<u>I. Reconciliation of Pool Balance and Pool Information</u>** |  |
|  **Beginning of Collection Period Pool Balance** | $**20811886285.38** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LESS: Collections (including prepayments, credit and upgrade payments) | $978536965.47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LESS: Reconveyance Amount | $54794201.69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LESS: Written-Off Receivables | $37307166.03 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ADD: addition of Receivables | $1520377427.87 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LESS: Redesignated Receivables (Outgoing) / transferred out | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ADD: Redesignated Receivables (Incoming) | $0.00 |
|  **End of Collection Period Pool Balance** | $**21261625380.06** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Pool Balance | $19148130303.87 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Business Pool Balance | $2113495076.19 |
| **<u>II. Group One Available Funds</u>** |  |
|  **Available Funds - Sources** |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;+ Collections | $875291652.47 |
|  &nbsp;&nbsp;&nbsp;&nbsp;+ Prepayments | $78851104.56 |
|  &nbsp;&nbsp;&nbsp;&nbsp;+ Reconveyance Amounts | $48210653.09 |
|  &nbsp;&nbsp;&nbsp;&nbsp;+ Credit Payments | $16416920.38 |
|  &nbsp;&nbsp;&nbsp;&nbsp;+ Upgrade Prepayments | $7977288.06 |
|  &nbsp;&nbsp;&nbsp;&nbsp;+ Parent Support Provider Payments | $0.00 |
|  &nbsp;&nbsp;&nbsp;&nbsp;+ Excess sale proceeds | $0.00 |
|  &nbsp;&nbsp;&nbsp;&nbsp;- Receivables purchased from Depositor | $0.00 |
|  &nbsp;&nbsp;&nbsp;&nbsp;+ Available Subordinated Amounts | $0.00 |
|  **Total Group Sources of Funds** | $**1026747618.56** |

---

Page 1 of 12

------

**Verizon Master Trust - VZMT** 

**Monthly Investor Report** 

Group Name One

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **<u>III. Note Balances and Required Overcollateralization</u>** | **<u>III. Note Balances and Required Overcollateralization</u>** | **<u>III. Note Balances and Required Overcollateralization</u>** | **<u>III. Note Balances and Required Overcollateralization</u>** | **<u>III. Note Balances and Required Overcollateralization</u>** | **<u>III. Note Balances and Required Overcollateralization</u>** | **<u>III. Note Balances and Required Overcollateralization</u>** | **<u>III. Note Balances and Required Overcollateralization</u>** | **<u>III. Note Balances and Required Overcollateralization</u>** |
|  |  |  |  | Initial Note<br>Balance | Beginning Note<br>Balance | Ending Note<br>Balance | Target OC | Series Invested<br>Amount |
|  | Overcollateralization<br> Percentage | Revolving<br> Period<br> Ended? | Note Bal at<br> End of<br> Revolv Per | **A1** | **A2** | **A** | **B** | **=A+B** |
| 2021-1 | 10.50 | FALSE | N/A | $1700000000.00 | $1700000000.00 | $1700000000.00 | $199441340.78 | $1899441340.78 |
| 2021-2 | 10.00 | FALSE | N/A | $1400000000.00 | $1400000000.00 | $1400000000.00 | $155555555.56 | $1555555555.56 |
| 2022-1 | 8.75 | FALSE | N/A | $900000000.00 | $900000000.00 | $900000000.00 | $86301369.86 | $986301369.86 |
| 2022-2 | 8.75 | FALSE | N/A | $800000000.00 | $800000000.00 | $800000000.00 | $76712328.77 | $876712328.77 |
| 2022-3 | 8.75 | FALSE | N/A | $450000000.00 | $450000000.00 | $450000000.00 | $43150684.93 | $493150684.93 |
| 2022-4 | 8.75 | FALSE | N/A | $550000000.00 | $550000000.00 | $550000000.00 | $52739726.03 | $602739726.03 |
| 2022-5 | 8.75 | FALSE | N/A | $460080000.00 | $460080000.00 | $460080000.00 | $44117260.27 | $504197260.27 |
| 2022-6 | 8.75 | FALSE | N/A | $539920000.00 | $539920000.00 | $539920000.00 | $51773150.68 | $591693150.68 |
| 2022-7 | 8.25 | FALSE | N/A | $1000000000.00 | $1000000000.00 | $1000000000.00 | $89918256.13 | $1089918256.13 |
| 2023-1 | 8.25 | FALSE | N/A | $1000000000.00 | $0.00 | $1000000000.00 | $89918256.13 | $1089918256.13 |
|  2021-A | 8.75 | FALSE | N/A | $2866666666.65 | $4953125000.00 | $4953125000.00 | $474957191.78 | $5428082191.78 |
|  2021-B | 8.75 | FALSE | N/A | $1433333333.35 | $2971875000.00 | $2971875000.00 | $284974315.07 | $3256849315.07 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  |  |  | $**13100000000.00** | $**15725000000.00** | $**16725000000.00** | $**1649559435.99** | $**18374559435.99** |

---

**<u>IV. Financing Adjustment Dates and Series Invested Amounts (C)</u>**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financing Adjustment Dates** | **Financing Adjustment Dates** | **Financing Adjustment Dates** | **Financing Adjustment Dates** | **Financing Adjustment Dates** |
|  | **1/1/2023** | **1/24/2023** | **1/26/2023** | **1/31/2023** |
|  Time weight (days in Collection Period) | 23.00 | 2.00 | 5.00 | 1.00 |
| 2021-1 | $1899441340.78 | $1899441340.78 | $1899441340.78 | $1899441340.78 |
| 2021-2 | $1555555555.56 | $1555555555.56 | $1555555555.56 | $1555555555.56 |
| 2022-1 | $986301369.86 | $986301369.86 | $986301369.86 | $986301369.86 |
| 2022-2 | $876712328.77 | $876712328.77 | $876712328.77 | $876712328.77 |
| 2022-3 | $493150684.93 | $493150684.93 | $493150684.93 | $493150684.93 |
| 2022-4 | $602739726.03 | $602739726.03 | $602739726.03 | $602739726.03 |
| 2022-5 | $504197260.27 | $504197260.27 | $504197260.27 | $504197260.27 |
| 2022-6 | $591693150.68 | $591693150.68 | $591693150.68 | $591693150.68 |
| 2022-7 | $1089918256.13 | $1089918256.13 | $1089918256.13 | $1089918256.13 |
| 2023-1 | $0.00 | $0.00 | $1089918256.13 | $1089918256.13 |
|  2021-A | $5428082191.78 | $5428082191.78 | $5428082191.78 | $5428082191.78 |
|  2021-B | $3256849315.07 | $3256849315.07 | $3256849315.07 | $3256849315.07 |
|  **Total** | $**17284641179.86** | $**17284641179.86** | $**18374559435.99** | $**18374559435.99** |

---

Page 2 of 12

------

**Verizon Master Trust - VZMT** 

**Monthly Investor Report** 

Group Name One

**<u>V. Discounted Series Invested Amounts</u>**

**Pool Balances on Financing Adjustment Dates (D)** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **1/1/2023** | **1/1/2023** | **1/24/2023** | **1/24/2023** | **1/26/2023** | **1/26/2023** | **1/31/2023** | **1/31/2023** | **Time Wgt Avg** | **Time Wgt Avg** |
|  **VZMT Group One** |  | 20811886285.38 |  | 21099833562.91 |  | 21027900522.38 |  | 21261625380.06 |  | 20879812247.79 |

---

**Present values of remaining unpaid payments (E)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Discount Rate** | | **1/1/2023** | **1/24/2023** | **1/26/2023** | **1/31/2023** |
| 2021-1 | 6.30% | $19340987138.12 | $19614275424.54 | $19549964019.31 | $19764859049.24 |
| 2021-2 | 6.80% | $19231048574.71 | $19503192230.40 | $19439438602.60 | $19652933099.95 |
| 2022-1 | 6.82% | $19226670833.93 | $19498768801.97 | $19435037352.74 | $19648476098.62 |
| 2022-2 | 7.32% | $19117718835.26 | $19388677057.64 | $19325496788.40 | $19537548443.87 |
| 2022-3 | 8.80% | $18800684023.03 | $19068296274.76 | $19006711114.44 | $19214731374.15 |
| 2022-4 | 9.19% | $18718478381.04 | $18985215843.64 | $18924042144.21 | $19131018276.81 |
| 2022-5 | 9.51% | $18651437892.86 | $18917459743.58 | $18856620940.94 | $19062745934.83 |
| 2022-6 | 9.46% | $18661888701.58 | $18928022237.95 | $18867131267.93 | $19073388922.20 |
| 2022-7 | 11.02 | $18340004510.44 | $18602675972.29 | $18543385099.52 | $18745560587.85 |

---

Page 3 of 12

------

**Verizon Master Trust - VZMT** 

**Monthly Investor Report** 

Group Name One

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | | **1/1/2023** | **1/24/2023** | **1/26/2023** | **1/31/2023** |
| 2023-1 | 10.28 | $0.00 | $0.00 | $18695886953.75 | $18899984293.58 |
|  2021-A | 10.33 | $18480904909.19 | $18745097493.21 | $18685107897.42 | $18889069335.13 |
|  2021-B | 11.60 | $18223509005.20 | $18484916149.11 | $18426200964.93 | $18626900990.49 |

---

**Discounted Series Invested Amounts (F = C \* (D/E))** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **1/1/2023** | **1/24/2023** | **1/26/2023** | **1/31/2023** |
| 2021-1 | $2043893854.75 | $2043305027.93 | $2043039106.14 | $2043286033.52 |
| 2021-2 | $1683422222.23 | $1682908888.89 | $1682660000.00 | $1682893333.34 |
| 2022-1 | $1067621917.80 | $1067286575.34 | $1067138630.13 | $1067276712.33 |
| 2022-2 | $954406575.35 | $954090958.91 | $953941917.81 | $954073424.66 |
| 2022-3 | $545903013.70 | $545690958.90 | $545592328.77 | $545686027.40 |
| 2022-4 | $670150136.99 | $669872876.72 | $669746301.37 | $669866849.32 |
| 2022-5 | $562598428.93 | $562361456.21 | $562255574.79 | $562356414.24 |
| 2022-6 | $659862118.57 | $659584022.79 | $659459767.23 | $659578105.86 |
| 2022-7 | $1236817438.69 | $1236228882.83 | $1235945504.09 | $1236207084.47 |
| 2023-1 | $0.00 | $0.00 | $1225863760.22 | $1226103542.23 |
|  2021-A | $6112726198.63 | $6109957876.71 | $6108655136.99 | $6109849315.07 |
|  2021-B | $3719452191.78 | $3717563219.18 | $3716716438.36 | $3717530650.69 |
|  **Total** | $**19256854097.42** | $**19248850744.41** | $**20471014465.90** | $**20474707493.13** |

---

Page 4 of 12

------

**Verizon Master Trust - VZMT** 

**Monthly Investor Report** 

Group Name One

**<u>VI. Series Incremental Required Invested Amount Series Share (G)</u>**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **1/1/2023** | **1/24/2023** | **1/26/2023** | **1/31/2023** |
| 2021-1 | 9.82% | 9.68% | 9.72% | 9.61% |
| 2021-2 | 8.09% | 7.98% | 8.00% | 7.92% |
| 2022-1 | 5.13% | 5.06% | 5.07% | 5.02% |
| 2022-2 | 4.59% | 4.52% | 4.54% | 4.49% |
| 2022-3 | 2.62% | 2.59% | 2.59% | 2.57% |
| 2022-4 | 3.22% | 3.17% | 3.19% | 3.15% |
| 2022-5 | 2.70% | 2.67% | 2.67% | 2.64% |
| 2022-6 | 3.17% | 3.13% | 3.14% | 3.10% |
| 2022-7 | 5.94% | 5.86% | 5.88% | 5.81% |
| 2023-1 | 0.00% | 0.00% | 5.83% | 5.77% |
|  2021-A | 29.37% | 28.96% | 29.05% | 28.74% |
|  2021-B | 17.87% | 17.62% | 17.68% | 17.48% |
|  **Ineligible Amounts (H)** | **Ineligible Amounts (H)** | **Ineligible Amounts (H)** | **Ineligible Amounts (H)** | **Ineligible Amounts (H)** |
|  | **1/1/2023** | **1/24/2023** | **1/26/2023** | **1/31/2023** |
| 2021-1 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2021-2 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2022-1 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2022-2 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2022-3 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2022-4 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2022-5 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2022-6 | $0.00 | $0.00 | $0.00 | $0.00 |

---

Page 5 of 12

------

**Verizon Master Trust - VZMT** 

**Monthly Investor Report** 

Group Name One

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **1/1/2023** | **1/24/2023** | **1/26/2023** | **1/31/2023** |
| 2022-7 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2023-1 | $0.00 | $0.00 | $0.00 | $0.00 |
|  2021-A | $0.00 | $0.00 | $0.00 | $0.00 |
|  2021-B | $0.00 | $0.00 | $0.00 | $0.00 |
|  **Excess Concentration Amounts (I)** | **Excess Concentration Amounts (I)** | **Excess Concentration Amounts (I)** | **Excess Concentration Amounts (I)** | **Excess Concentration Amounts (I)** |
|  | **1/1/2023** | **1/24/2023** | **1/26/2023** | **1/31/2023** |
| 2021-1 | $196923680.80 | $124906114.90 | $115323644.36 | $112169397.83 |
| 2021-2 | $196923680.80 | $124906114.90 | $115323644.36 | $112169397.83 |
| 2022-1 | $196923680.80 | $124906114.90 | $115323644.36 | $112169397.83 |
| 2022-2 | $196923680.80 | $124906114.90 | $115323644.36 | $112169397.83 |
| 2022-3 | $196923680.80 | $124906114.90 | $115323644.36 | $112169397.83 |
| 2022-4 | $196923680.80 | $124906114.90 | $115323644.36 | $112169397.83 |
| 2022-5 | $196923680.80 | $124906114.90 | $115323644.36 | $112169397.83 |
| 2022-6 | $196923680.80 | $124906114.90 | $115323644.36 | $112169397.83 |
| 2022-7 | $196923680.80 | $124906114.90 | $115323644.36 | $112169397.83 |
| 2023-1 | $0.00 | $0.00 | $115323644.36 | $112169397.83 |
|  2021-A | $196923680.80 | $124906114.90 | $115323644.36 | $112169397.83 |
|  2021-B | $196923680.80 | $124906114.90 | $115323644.36 | $112169397.83 |
|  **Series Incremental Required Invested Amount (J = G \* (H + I))** | **Series Incremental Required Invested Amount (J = G \* (H + I))** | **Series Incremental Required Invested Amount (J = G \* (H + I))** | **Series Incremental Required Invested Amount (J = G \* (H + I))** | **Series Incremental Required Invested Amount (J = G \* (H + I))** |
|  | **1/1/2023** | **1/24/2023** | **1/26/2023** | **1/31/2023** |
| 2021-1 | $19337905.45 | $12090911.92 | $11209458.23 | $10779479.13 |
| 2021-2 | $15931125.78 | $9967507.97 | $9225891.55 | $8883816.31 |
| 2022-1 | $10102184.83 | $6320249.41 | $5846908.77 | $5630903.77 |

---

Page 6 of 12

------

**Verizon Master Trust - VZMT** 

**Monthly Investor Report** 

Group Name One

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **1/1/2023** | **1/24/2023** | **1/26/2023** | **1/31/2023** |
| 2022-2 | $9038796.95 | $5645756.39 | $5235693.45 | $5036405.96 |
| 2022-3 | $5159400.44 | $3235068.38 | $2986882.39 | $2882753.52 |
| 2022-4 | $6340942.52 | $3959523.84 | $3678824.26 | $3533336.03 |
| 2022-5 | $5316939.38 | $3334993.27 | $3079141.30 | $2961272.10 |
| 2022-6 | $6242480.68 | $3909561.40 | $3621162.43 | $3477251.33 |
| 2022-7 | $11697266.64 | $7319498.33 | $6781030.29 | $6517042.01 |
| 2023-1 | $0.00 | $0.00 | $6723368.47 | $6472174.25 |
|  2021-A | $57836485.05 | $36172810.88 | $33501518.69 | $32237484.94 |
|  2021-B | $35190261.76 | $22008457.45 | $20389220.32 | $19607210.74 |

---

**<u>VII. Adjusted Series Invested Amounts & Allocation (K = F + J)</u>**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **1/1/2023** | **1/24/2023** | **1/26/2023** | **1/31/2023** | **Time Wgt Avg** |
| 2021-1 | $2063231760.20 | $2055395939.85 | $2054248564.37 | $2054065512.65 | $2060981635.45 |
| 2021-2 | $1699353348.01 | $1692876396.86 | $1691885891.55 | $1691777149.65 | $1697486658.24 |
| 2022-1 | $1077724102.63 | $1073606824.75 | $1072985538.90 | $1072907616.10 | $1076538816.79 |
| 2022-2 | $963445372.30 | $959736715.30 | $959177611.26 | $959109830.62 | $962377899.37 |
| 2022-3 | $551062414.14 | $548926027.28 | $548579211.16 | $548568780.92 | $550443626.34 |
| 2022-4 | $676491079.51 | $673832400.56 | $673425125.63 | $673400185.35 | $675725336.88 |
| 2022-5 | $567915368.31 | $565696449.48 | $565334716.09 | $565317686.34 | $567272181.83 |
| 2022-6 | $666104599.25 | $663493584.19 | $663080929.66 | $663055357.19 | $665350095.37 |
| 2022-7 | $1248514705.33 | $1243548381.16 | $1242726534.38 | $1242724126.48 | $1247073928.49 |
| 2023-1 | $0.00 | $0.00 | $1232587128.69 | $1232575716.48 | $238564882.58 |
|  2021-A | $6170562683.68 | $6146130687.59 | $6142156655.68 | $6142086800.01 | $6163486231.56 |
|  2021-B | $3754642453.54 | $3739571676.63 | $3737105658.68 | $3737137861.43 | $3750276965.79 |

---

Page 7 of 12

------

**Verizon Master Trust - VZMT** 

**Monthly Investor Report** 

Group Name One

**<u>Series Allocation % (L = K / (Greater of (i) D OR (ii) Sum of K))</u>**

---

| | |
|:---|:---|
| 2021-1 | 9.87% |
| 2021-2 | 8.13% |
| 2022-1 | 5.16% |
| 2022-2 | 4.61% |
| 2022-3 | 2.64% |
| 2022-4 | 3.24% |
| 2022-5 | 2.72% |
| 2022-6 | 3.19% |
| 2022-7 | 5.97% |
| 2023-1 | 5.90% |
|  2021-A | 29.52% |
|  2021-B | 17.96% |
|  Transferor's Percentage | 1.10% |
| **<u>Series Allocated Pool Balance (M = L \* E)</u>**<br>|  |
| 2021-1 | $1950927965.69 |
| 2021-2 | $1597744155.16 |
| 2022-1 | $1013051849.47 |
| 2022-2 | $900511006.59 |
| 2022-3 | $506548355.85 |
| 2022-4 | $619129492.09 |
| 2022-5 | $517906212.93 |
| 2022-6 | $607786889.38 |
| 2022-7 | $1119602975.34 |
| 2023-1 | $1115701982.82 |
|  2021-A | $5575841710.15 |
|  2021-B | $3345626116.84 |
|  Transferor's Interest | $234432807.60 |

---

Page 8 of 12

------

**Verizon Master Trust - VZMT** 

**Monthly Investor Report** 

Group Name One

**<u>VIII. Principal Funding Account(s)</u>**

---

| | |
|:---|:---|
|  Aggregate beginning Principal Funding Account Limit | $3900000000.0 |
|  Aggregate ending Principal Funding Account Limit | $4400000000.0 |
|  Aggregate beginning of period Principal Funding Account Balance | $0.0 |
|  Add: Aggregate deposit(s) to Principal Funding Account(s) | $0.0 |
|  Aggregate end of period Principal Funding Account | $0.0 |
|  Group One Required Pool Balance (Sum of all Adjusted Series Invested Amounts less Min of (i) Sum of Series PFA Accounts or (ii) Sum of Series PFA Limits) | $20582726623.22 |
|  Pool Balance Deficit (Max(0, Required Pool Balance - Pool Balance)) | $0.0 |

---

**<u>IX. Group One Available Funds allocation to Series</u>**

---

| | |
|:---|:---|
|  | **Allocation** |
| 2021-1 | $101347074.51 |
| 2021-2 | $83472527.89 |
| 2022-1 | $52937875.12 |
| 2022-2 | $47324132.51 |
| 2022-3 | $27067634.09 |
| 2022-4 | $33228222.48 |
| 2022-5 | $27895192.67 |
| 2022-6 | $32718031.59 |
| 2022-7 | $61323836.29 |
| 2023-1 | $60610862.74 |
|  2021-A | $303084397.43 |
|  2021-B | $184416809.31 |
|  Transferor's Allocation | $11321021.92 |
|  **Total** | $**1026747618.56** |

---

Page 9 of 12

------

**Verizon Master Trust - VZMT** 

**Monthly Investor Report** 

Group Name One

---

| | |
|:---|:---|
|  **Transferor's Allocation (before fees)** | $**11321021.92** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - Transferor's Allocation portion of Master Collateral Agent Fee | $18.38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - Transferor's Allocation portion of Owner Trustee Fee | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - Transferor's Allocation portion of Asset Representations Reviewer Fee | $0.00 |
|  **Transferor's Allocation (after fees)** | $**11321003.54** |

---

**<u>X. Write Offs and Delinquent Receivables</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | Number of<br>Receivables | Principal Balance<br>Written Off | % of Beginning of<br> Period Pool Balance |
|  **Receivables Written Off in Current Collection Period** | 69151 | $37307166.03 | 0.18% |
|  | Number of<br>Receivables | Delinquent Principal<br>Balances | % of End of Period<br>Pool Balance |
|  **Delinquent Receivables:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 - 30 Days Delinquent | 3095946 | $1821099611.85 | 8.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31 - 60 Days Delinquent | 282294 | $156940179.54 | 0.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61 - 90 Days Delinquent | 96358 | $51938247.30 | 0.24% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91 - 120 Days Delinquent | 76408 | $41106411.30 | 0.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Over 120 Days Delinquent | 53222 | $30158700.43 | 0.14% |
|  **Total Delinquent Receivables at the End of Period** | **3604228** | $**2101243150.42** | **9.88%** |
|  **Ratio of aggregate Principal Balance of Written-Off Receivables to the beginning of Collection Period Pool Balance** | **Ratio of aggregate Principal Balance of Written-Off Receivables to the beginning of Collection Period Pool Balance** | **Ratio of aggregate Principal Balance of Written-Off Receivables to the beginning of Collection Period Pool Balance** | **Ratio of aggregate Principal Balance of Written-Off Receivables to the beginning of Collection Period Pool Balance** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Preceding Collection Period |  |  | 0.21% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeding Collection Period |  |  | 0.21% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current Collection Period |  |  | 0.18% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sum of the three above multiplied by four |  |  | 2.39% |
|  **Ratio of aggregate Principal Balance of Receivables 91+ days delinquent to the end of Collection Period Pool Balance** | **Ratio of aggregate Principal Balance of Receivables 91+ days delinquent to the end of Collection Period Pool Balance** | **Ratio of aggregate Principal Balance of Receivables 91+ days delinquent to the end of Collection Period Pool Balance** | **Ratio of aggregate Principal Balance of Receivables 91+ days delinquent to the end of Collection Period Pool Balance** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Preceding Collection Period |  |  | 0.34% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeding Collection Period |  |  | 0.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current Collection Period |  |  | 0.34% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Three Month Average |  |  | 0.33% |
| **<u>Assets Representation Review</u>** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aggregate Principal Balance of 60-Day Delinquent Receivables as a Percentage of the Aggregate Balance of Receivables as of the end of the Collection Period | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aggregate Principal Balance of 60-Day Delinquent Receivables as a Percentage of the Aggregate Balance of Receivables as of the end of the Collection Period |  | 0.59% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delinquency Trigger |  |  | 5.00% |

---

Page 10 of 12

------

**Verizon Master Trust - VZMT** 

**Monthly Investor Report** 

Group Name One

**<u>XI. Pool characteristics as of end of Collection Period</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | | **Prior to Purchase** | **With Purchase** |
|  Number of Receivables |  | 36651228 | 37152021 |
|  Pool Balance |  | $20872392111.00 | $21261625380.06 |
|  Average Monthly Payment |  | $25.18 | $25.14 |
|  Average Principal Balance |  | $569.49 | $572.29 |
|  Weighted Average Remaining Term (in months) |  | 26.7 | 26.9 |
|  Customer Tenure |  |  |  |
|  | 0-12 Months | 13.83% | 13.94% |
|  | 7-24 Months | 6.55% | 6.54% |
|  | 60+ Months | 64.16% | 64.08% |
|  Geographic Concentration |  |  |  |
|  | Largest state | CA / 10.04% | CA / 10.05% |
|  | 2nd Largest State | FL / 6.12% | FL / 6.13% |
|  | 3rd Largest State | TX / 5.95% | TX / 5.95% |
|  Weighted Average FICO |  | 724 | 724 |

---

**<u>XII. Upgrades</u>**

---

| | | |
|:---|:---|:---|
|  | **Current**<br>**Period** | **To Date** |
|  Number of Receivables Upgraded | 17110 | 173728 |
|  Principal Balance of Receivables Upgraded | $7977288.06 | $85772095.12 |
|  Upgrade payments | $2072537.10 | $20523928.70 |
|  Failure by Marketing Agent to Make Upgrade Payments | No | No |

---

------

Page 11 of 12

------

**Verizon Master Trust - VZMT** 

**Monthly Investor Report** 

Group Name One

On and as of the Payment Date to which this Monthly Investor Report related, the Servicer hereby certifies that the information in the Monthly Investor Report is accurate in all material respects.

---

| | |
|:---|:---|
| **Cellco Partnership, as Servicer** | **Cellco Partnership, as Servicer** |
| **Dated:** February 15, 2023 | **Dated:** February 15, 2023 |
| By: | /s/ Kee Chan Sin |
|  | **Name: Kee Chan Sin** |
|  | **Title: Vice President and Assistant Treasurer** |

---

---

| | |
|:---|:---|
| 1 | As of the date of this Monthly Investor Report for purposes of any references to the term "delinquent" contained herein, the Servicer considers an account to be delinquent if there are unpaid charges remaining on the account on the day after the bill's due date and calculates delinquency assuming a due date is 22 or 30 days after the end of the monthly bill cycle for consumer customers and business customers, respectively.  |

---

Page 12 of 12

## Exhibit 99.2

**Exhibit 99.2** 

**Verizon Master Trust - VZMT 2021-1** 

**Monthly Investor Report** 

Group Name One

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; Series Name | 2021-1 |
| &nbsp;&nbsp;&nbsp; Collection Period | January 2023 |
| &nbsp;&nbsp;&nbsp; Payment Date | 02/21/2023 |
| &nbsp;&nbsp;&nbsp; Transaction Month | 20 |
| &nbsp;&nbsp;&nbsp; Anticipated Redemption Date | 05/20/2024 |
| &nbsp;&nbsp;&nbsp; Series Status at End of Prior Payment Date | Revolving |

---

---

| | | | |
|:---|:---|:---|:---|
| **Offered Notes** | Issuance Note | Note Interest Rate | Final Maturity Date |
|  Class A | $1500500000.00 | 0.50% | 05/20/2027 |
|  Class B | $118700000.00 | 0.69% | 05/20/2027 |
|  Class C | $80800000.00 | 0.89% | 05/20/2027 |
|  **Total** | $**1700000000.00** |  |  |

---

------

---

| | |
|:---|:---|
| **<u>Series 2021-1 Available Funds and other sources of funds</u>** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1 Allocation Percentage x Group One Available Funds | $101347074.51 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts paid by the Cap Counterparty | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Available Subordinated Amounts | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts drawn on the Reserve Account | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts released from Principal Funding Account | $0.00 |
|  **Total Available Funds** | $**101347074.51** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **<u>Reserve Account Calculation</u>** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beginning of Period Reserve Account Balance | $18994413.41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Required Reserve Amount | $18994413.41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shortfall in Required Reserve Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account funds needed this period (True/False) | FALSE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account draw amount required | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account Deposit Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **End of Period Reserve Account Balance** | $**18994413.41** |

---

Page 1 of 6

------

**Verizon Master Trust - VZMT 2021-1** 

**Monthly Investor Report** 

Group Name One

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Distribution** | **Amount Due** | **Amount Paid** | **Shortfall** | **Carryover**<br>**Shortfall** | **Remaining**<br>**Available Funds** |
|  Master Collateral Agent Fee | $164.51 | $164.51 | $0.00 | $0.00 | $101346910.00 |
|  Indenture Trustee Fee | $1250.00 | $1250.00 | $0.00 | $0.00 | $101345660.00 |
|  Owner Trustee Fee | $0.00 | $0.00 | $0.00 | $0.00 | $101345660.00 |
|  Asset Representations Reviewer Fee | $79.96 | $79.96 | $0.00 | $0.00 | $101345580.04 |
|  Servicing Fee | $1283922.99 | $1283922.99 | $0.00 | $0.00 | $100061657.05 |
|  Class A Note Interest | $625208.33 | $625208.33 | $0.00 | $0.00 | $99436448.72 |
|  First Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $99436448.72 |
|  Class B Note Interest | $68252.50 | $68252.50 | $0.00 | $0.00 | $99368196.22 |
|  Second Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $99368196.22 |
|  Class C Note Interest | $59926.67 | $59926.67 | $0.00 | $0.00 | $99308269.55 |
|  Third Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $99308269.55 |
|  Reserve Account up to Required Reserve Amount | $0.00 | $0.00 | $0.00 | $0.00 | $99308269.55 |
|  Regular Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $99308269.55 |
|  Supplemental Successor Servicer Fee | $0.00 | $0.00 | $0.00 | $0.00 | $99308269.55 |
|  Additional Interest Amounts | $0.00 | $0.00 | $0.00 | $0.00 | $99308269.55 |
|  Make-Whole Payments | $0.00 | $0.00 | $0.00 | $0.00 | $99308269.55 |
|  Additional Fees and Expenses | $0.00 | $0.00 | $0.00 | $0.00 | $99308269.55 |
|  Additional Trust Expenses | $0.00 | $0.00 | $0.00 | $0.00 | $99308269.55 |
|  Class R Interest | $99308269.55 | $99308269.55 | $0.00 | $0.00 | $0.00 |
|  **Total** | $**101347074.51** | $**101347074.51** | $**0.00** |  |  |

---

---

| | |
|:---|:---|
|  **Principal Payment:** |  |
|  First Priority Principal Payment | $0.00 |
|  Second Priority Principal Payment | $0.00 |
|  Third Priority Principal Payment | $0.00 |
|  Regular Principal Payment | $0.00 |
|  Accelerated Note Balances | $0.00 |
|  **Total** | $**0.00** |

---

------

Page 2 of 6

------

**Verizon Master Trust - VZMT 2021-1** 

**Monthly Investor Report** 

Group Name One

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Noteholder Payments** | **Note Balance** | **PFA Account** | **Interest**<br>**Payment** | **Add'l Interest** | **Make-Whole** | **Total Payment** |
|  Class A | $0.00 | $0.00 | $625208.33 | $0.00 | $0.00 | $625208.33 |
|  Class B | $0.00 | $0.00 | $68252.50 | $0.00 | $0.00 | $68252.50 |
|  Class C | $0.00 | $0.00 | $59926.67 | $0.00 | $0.00 | $59926.67 |
|  **Total** | $**0.00** | $**0.00** | $**753387.50** | $**0.00** | $**0.00** | $**753387.50** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Note Balance per<br>$1,000 of Notes** | **Interest Payment<br>per $1,000 of Notes** | **Make-Whole Payment<br>per $1,000 of Notes** | **Total Payment per<br>$1,000 of Notes** |
|  Class A | $1000.00 | $0.42 | $0.00 | $0.42 |
|  Class B | $1000.00 | $0.58 | $0.00 | $0.58 |
|  Class C | $1000.00 | $0.74 | $0.00 | $0.74 |
|  **Total** | $**1000.00** | $**0.44** | $**0.00** | $**0.44** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of prior Payment Date** | **As of prior Payment Date** | **As of current Payment Date** | **As of current Payment Date** |
|  | **Balance** | **Note Pool Factor** | **Balance** | **Note Pool Factor** |
|  Class A | $1500500000.00 | 1.00 | $1500500000.00 | 1.00 |
|  Class B | $118700000.00 | 1.00 | $118700000.00 | 1.00 |
|  Class C | $80800000.00 | 1.00 | $80800000.00 | 1.00 |
|  **Total** | $**1700000000.00** | **1.00** | $**1700000000.00** | **1.00** |

---

------

---

| | |
|:---|:---|
| **<u>Principal Funding Account</u>** |  |
|  Beginning Principal Funding Account Limit | $850000000.00 |
|  Ending Principal Funding Account Limit | $850000000.00 |
|  Beginning of period Principal Funding Account balance | $0.00 |
|  Add: Deposit to Principal Funding Account | $0.00 |
|  End of period Principal Funding Account Balance | $0.00 |

---

------

Page 3 of 6

------

**Verizon Master Trust - VZMT 2021-1** 

**Monthly Investor Report** 

Group Name One

**<u>Amortization Event Tests</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | **End of Prior<br>Period** | **End of Current<br>Period** | **In Compliance?** |
|  **Delinquency and Write-Offs** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For any Payment Date, the sum of the fractions, expressed as percentages, for each of the three (3) Collection Periods immediately preceding that Payment Date, calculated by dividing the aggregate Principal Balance of all Receivables that are ninety-one (91) days or more delinquent at the end of each of the three (3) prior Collection Periods by the Pool Balance as of the last day of each of those Collection Periods, divided by three (3), exceeds 2.00% | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For any Payment Date, the sum of the fractions, expressed as percentages, for each of the three (3) Collection Periods immediately preceding that Payment Date, calculated by dividing the aggregate Principal Balance of all Receivables which became Written-Off Receivables during each of the three (3) prior Collection Periods by the Pool Balance as of the first day of each of those Collection Periods, multiplied by four (4), exceeds 10.00% | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of any date of determination, the Discounted Series Invested Amount for Series 2021-1 is greater than the excess of (i) the Pool Balance over (ii) the sum of (x) the Ineligible Amount for Series 2021-1 and (y) the Series 2021-1 Excess Concentration Amount | FALSE | FALSE | TRUE |
|  **Payments** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On any Payment Date, interest due is not paid on any class of Notes | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On the fifth Business Day after any Payment Date during the Revolving Period, after giving effect to distributions on such Payment Date, the sum of the amount on deposit in the Reserve Account plus, if a Letter of Credit has been issued for the benefit of the Notes, the amount available under the Letter of Credit, is less than the Required Reserve Amount | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of the Anticipated Redemption Date, the Trust has not redeemed the Notes | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of any Payment Date, a Pool Balance Deficit exists after giving effect to distributions on such Payment Date (including deposits to the Principal Funding Account on such Payment Date) | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to any Payment Date, the Series 2021-1 Allocated Pool Balance is less than 50.00% of (x) the aggregate Note Balance minus (y) the amount on deposit in the Principal Funding Account, in each case as of such Payment Date | FALSE | FALSE | TRUE |
|  **Servicing and Event of Default** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A Servicer Termination Event has occurred and is continuing | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An Event of Default has occurred and is continuing | FALSE | FALSE | TRUE |

---

Page 4 of 6

------

**Verizon Master Trust - VZMT 2021-1** 

**Monthly Investor Report** 

Group Name One

**<u>Excess Concentration Amount</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | **Actual %<br>or Amt** | **Actual $** | **Excess $** |
| **Consumer & Business, Without duplication** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Receivables with Obligors that have less than sixty (60) months of Customer Tenure with Verizon Wireless exceeds 45.00% of the Pool Balances | 35.92% | $7638137729.97 | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Receivables with Obligors that have less than twelve (12) months of Customer Tenure with Verizon Wireless exceeds 22.00% of the Pool Balance | 13.94% | $2962876795.23 | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to all Receivables for which the origination date was less than thirty-one (31) days prior to the related Cutoff Date, or in the case of any determination made on a Payment Date, the last day of the related Collection Period, the product of (i) the aggregate Principal Balance of all such Receivables and (ii) 10.00% | 10.00% | $1121693978.30 | $112169397.83 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The aggregate Principal Balance of all Group 1 Receivables with the longest remaining terms that would need to be excluded from the calculation of the Pool Balance of all Group 1 Receivables in order to cause the weighted average remaining term of the Group 1 Receivables to be equal to or less than 30 months | 26.9 | N/A | $0.00 |
|  **Consumer Only, Without duplication (If Consumer Receivable Condition is satisfied)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The aggregate Principal Balance of all Consumer Receivables with the lowest FICO<sup>®</sup> Scores that would need to be excluded from the calculation of the Pool Balance of all Consumer Receivables in order to cause the weighted average FICO<sup>®</sup> Score of the Consumer Obligors with respect to all Consumer Receivables (weighted based on Principal Balances) included in such calculation of the Pool Balance of all Consumer Receivables to be at least 700 (excluding any Consumer Receivables with Consumer Obligors for whom FICO<sup>®</sup> Scores are not available) | 724 | N/A | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Consumer Receivables with Consumer Obligors for whom FICO<sup>®</sup> Scores are not available exceeds 4.50% of the Pool Balance of all Consumer Receivables | 3.48% | $666138415.79 | $0.00 |
| **Business Only, Without duplication** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Business Receivables exceeds 10.00% of the Pool Balance | 9.94% | $2113495076.19 | $0.00 |
|  **Total Loan Series 2021-1 Excess Concentration Amount** |  |  | $**112169397.83** |

---

------

Page 5 of 6

------

**Verizon Master Trust - VZMT 2021-1** 

**Monthly Investor Report** 

Group Name One

On and as of the Payment Date to which this Monthly Investor Report related, the Servicer hereby certifies that the information in the Monthly Investor Report is accurate in all material respects.

---

| | |
|:---|:---|
| **Cellco Partnership, as Servicer** | **Cellco Partnership, as Servicer** |
| **Dated:** February 15, 2023 | **Dated:** February 15, 2023 |
| By: | /s/ Kee Chan Sin |
|  | **Name: Kee Chan Sin** |
|  | **Title: Vice President and Assistant Treasurer** |

---

---

| | |
|:---|:---|
| 1 | As of the date of this Monthly Investor Report for purposes of any references to the term "delinquent" contained herein, the Servicer considers an account to be delinquent if there are unpaid charges remaining on the account on the day after the bill's due date and calculates delinquency assuming a due date is 22 or 30 days after the end of the monthly bill cycle for consumer customers and business customers, respectively.  |

---

Page 6 of 6

## Exhibit 99.3

**Exhibit 99.3** 

**Verizon Master Trust - VZMT 2021-2** 

**Monthly Investor Report** 

Group Name One

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; Series Name | 2021-2 |
| &nbsp;&nbsp;&nbsp; Collection Period | January 2023 |
| &nbsp;&nbsp;&nbsp; Payment Date | 02/21/2023 |
| &nbsp;&nbsp;&nbsp; Transaction Month | 15 |
| &nbsp;&nbsp;&nbsp; Anticipated Redemption Date | 10/21/2024 |
| &nbsp;&nbsp;&nbsp; Series Status at End of Prior Payment Date | Revolving |

---

---

| | | | |
|:---|:---|:---|:---|
| **Offered Notes** | Issuance Note | Note Interest Rate | Final Maturity Date |
|  Class A | $1246700000.00 | 0.99% | 04/20/2028 |
|  Class B | $76300000.00 | 1.28% | 04/20/2028 |
|  Class C | $77000000.00 | 1.38% | 04/20/2028 |
|  **Total** | $**1400000000.00** |  |  |

---

------

---

| | |
|:---|:---|
| **<u>Series 2021-2 Available Funds and other sources of funds</u>** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2 Allocation Percentage x Group One Available Funds | $83472527.89 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts paid by the Cap Counterparty | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Available Subordinated Amounts | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts drawn on the Reserve Account | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts released from Principal Funding Account | $0.00 |
|  **Total Available Funds** | $**83472527.89** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **<u>Reserve Account Calculation</u>** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beginning of Period Reserve Account Balance | $15555555.56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Required Reserve Amount | $15555555.56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shortfall in Required Reserve Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account funds needed this period (True/False) | FALSE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account draw amount required | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account Deposit Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **End of Period Reserve Account Balance** | $**15555555.56** |

---

Page 1 of 6

------

**Verizon Master Trust - VZMT 2021-2** 

**Monthly Investor Report** 

Group Name One

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Distribution** | **Amount Due** | **Amount Paid** | **Shortfall** | **Carryover<br>Shortfall** | **Remaining<br>Available Funds** |
|  Master Collateral Agent Fee | $135.50 | $135.50 | $0.00 | $0.00 | $83472392.39 |
|  Indenture Trustee Fee | $1250.00 | $1250.00 | $0.00 | $0.00 | $83471142.39 |
|  Owner Trustee Fee | $0.00 | $0.00 | $0.00 | $0.00 | $83471142.39 |
|  Asset Representations Reviewer Fee | $65.86 | $65.86 | $0.00 | $0.00 | $83471076.53 |
|  Servicing Fee | $1057477.96 | $1057477.96 | $0.00 | $0.00 | $82413598.57 |
|  Class A Note Interest | $1028527.50 | $1028527.50 | $0.00 | $0.00 | $81385071.07 |
|  First Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $81385071.07 |
|  Class B Note Interest | $81386.67 | $81386.67 | $0.00 | $0.00 | $81303684.40 |
|  Second Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $81303684.40 |
|  Class C Note Interest | $88550.00 | $88550.00 | $0.00 | $0.00 | $81215134.40 |
|  Third Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $81215134.40 |
|  Reserve Account up to Required Reserve Amount | $0.00 | $0.00 | $0.00 | $0.00 | $81215134.40 |
|  Regular Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $81215134.40 |
|  Supplemental Successor Servicer Fee | $0.00 | $0.00 | $0.00 | $0.00 | $81215134.40 |
|  Additional Interest Amounts | $0.00 | $0.00 | $0.00 | $0.00 | $81215134.40 |
|  Make-Whole Payments | $0.00 | $0.00 | $0.00 | $0.00 | $81215134.40 |
|  Additional Fees and Expenses | $0.00 | $0.00 | $0.00 | $0.00 | $81215134.40 |
|  Additional Trust Expenses | $0.00 | $0.00 | $0.00 | $0.00 | $81215134.40 |
|  Class R Interest | $81215134.40 | $81215134.40 | $0.00 | $0.00 | $0.00 |
|  **Total** | $**83472527.89** | $**83472527.89** | $**0.00** |  |  |

---

---

| | |
|:---|:---|
|  **Principal Payment:** |  |
|  First Priority Principal Payment | $0.00 |
|  Second Priority Principal Payment | $0.00 |
|  Third Priority Principal Payment | $0.00 |
|  Regular Principal Payment | $0.00 |
|  Accelerated Note Balances | $0.00 |
|  **Total** | $**0.00** |

---

------

Page 2 of 6

------

**Verizon Master Trust - VZMT 2021-2** 

**Monthly Investor Report** 

Group Name One

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Noteholder Payments** | **Note Balance** | **PFA Account** | **Interest Payment** | **Add'l Interest** | **Make-Whole** | **Total Payment** |
|  Class A | $0.00 | $0.00 | $1028527.50 | $0.00 | $0.00 | $1028527.50 |
|  Class B | $0.00 | $0.00 | $81386.67 | $0.00 | $0.00 | $81386.67 |
|  Class C | $0.00 | $0.00 | $88550.00 | $0.00 | $0.00 | $88550.00 |
|  **Total** | $**0.00** | $**0.00** | $**1198464.17** | $**0.00** | $**0.00** | $**1198464.17** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Note Balance per<br>$1,000 of Notes** | **Interest Payment<br>per $1,000 of Notes** | **Make-Whole Payment<br>per $1,000 of Notes** | **Total Payment per<br>$1,000 of Notes** |
|  Class A | $1000.00 | $0.83 | $0.00 | $0.83 |
|  Class B | $1000.00 | $1.07 | $0.00 | $1.07 |
|  Class C | $1000.00 | $1.15 | $0.00 | $1.15 |
|  **Total** | $**1000.00** | $**0.86** | $**0.00** | $**0.86** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of prior Payment Date** | **As of prior Payment Date** | **As of current Payment Date** | **As of current Payment Date** |
|  | **Balance** | **Note Pool Factor** | **Balance** | **Note Pool Factor** |
|  Class A | $1246700000.00 | 1.00 | $1246700000.00 | 1.00 |
|  Class B | $76300000.00 | 1.00 | $76300000.00 | 1.00 |
|  Class C | $77000000.00 | 1.00 | $77000000.00 | 1.00 |
|  **Total** | $**1400000000.00** | **1.00** | $**1400000000.00** | **1.00** |

---

------

---

| | |
|:---|:---|
| **<u>Principal Funding Account</u>** |  |
|  Beginning Principal Funding Account Limit | $700000000.00 |
|  Ending Principal Funding Account Limit | $700000000.00 |
|  Beginning of period Principal Funding Account balance | $0.00 |
|  Add: Deposit to Principal Funding Account | $0.00 |
|  End of period Principal Funding Account Balance | $0.00 |

---

------

Page 3 of 6

------

**Verizon Master Trust - VZMT 2021-2** 

**Monthly Investor Report** 

Group Name One

**<u>Amortization Event Tests</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | **End of Prior**<br>**Period** | **End of Current**<br>**Period** | **In Compliance?** |
| **Delinquency and Write-Offs** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For any Payment Date, the sum of the fractions, expressed as percentages, for each of the three (3) Collection Periods immediately preceding that Payment Date, calculated by dividing the aggregate Principal Balance of all Receivables that are ninety-one (91) days or more delinquent at the end of each of the three (3) prior Collection Periods by the Pool Balance as of the last day of each of those Collection Periods, divided by three (3), exceeds 2.00% | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For any Payment Date, the sum of the fractions, expressed as percentages, for each of the three (3) Collection Periods immediately preceding that Payment Date, calculated by dividing the aggregate Principal Balance of all Receivables which became Written-Off Receivables during each of the three (3) prior Collection Periods by the Pool Balance as of the first day of each of those Collection Periods, multiplied by four (4), exceeds 10.00% | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of any date of determination, the Discounted Series Invested Amount for Series 2021-2 is greater than the excess of (i) the Pool Balance over (ii) the sum of (x) the Ineligible Amount for Series 2021-2 and (y) the Series 2021-2 Excess Concentration Amount | FALSE | FALSE | TRUE |
|  **Payments** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On any Payment Date, interest due is not paid on any class of Notes | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On the fifth Business Day after any Payment Date during the Revolving Period, after giving effect to distributions on such Payment Date, the sum of the amount on deposit in the Reserve Account plus, if a Letter of Credit has been issued for the benefit of the Notes, the amount available under the Letter of Credit, is less than the Required Reserve Amount | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of the Anticipated Redemption Date, the Trust has not redeemed the Notes | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of any Payment Date, a Pool Balance Deficit exists after giving effect to distributions on such Payment Date (including deposits to the Principal Funding Account on such Payment Date) | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to any Payment Date, the Series 2021-2 Allocated Pool Balance is less than 50.00% of (x) the aggregate Note Balance minus (y) the amount on deposit in the Principal Funding Account, in each case as of such Payment Date | FALSE | FALSE | TRUE |
|  **Servicing and Event of Default** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A Servicer Termination Event has occurred and is continuing | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An Event of Default has occurred and is continuing | FALSE | FALSE | TRUE |

---

Page 4 of 6

------

**Verizon Master Trust - VZMT 2021-2** 

**Monthly Investor Report** 

Group Name One

**<u>Excess Concentration Amount</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | **Actual %**<br>**or Amt** | **Actual $** | **Excess $** |
| **Consumer & Business, Without duplication** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Receivables with Obligors that have less than sixty (60) months of Customer Tenure with Verizon Wireless exceeds 45.00% of the Pool Balances | 35.92% | $7638137729.97 | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Receivables with Obligors that have less than twelve (12) months of Customer Tenure with Verizon Wireless exceeds 22.00% of the Pool Balance | 13.94% | $2962876795.23 | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to all Receivables for which the origination date was less than thirty-one (31) days prior to the related Cutoff Date, or in the case of any determination made on a Payment Date, the last day of the related Collection Period, the product of (i) the aggregate Principal Balance of all such Receivables and (ii) 10.00% | 10.00% | $1121693978.30 | $112169397.83 |
|  **Consumer Only, Without duplication (If Consumer Receivable Condition is satisfied)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The aggregate Principal Balance of all Consumer Receivables with the lowest FICO<sup>®</sup> Scores that would need to be excluded from the calculation of the Pool Balance of all Consumer Receivables in order to cause the weighted average FICO<sup>®</sup> Score of the Consumer Obligors with respect to all Consumer Receivables (weighted based on Principal Balances) included in such calculation of the Pool Balance of all Consumer Receivables to be at least 700 (excluding any Consumer Receivables with Consumer Obligors for whom FICO<sup>®</sup> Scores are not available) | 724 | N/A | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Consumer Receivables with Consumer Obligors for whom FICO<sup>®</sup> Scores are not available exceeds 4.50% of the Pool Balance of all Consumer Receivables | 3.48% | $666138415.79 | $0.00 |
| **Business Only, Without duplication** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Business Receivables exceeds 10.00% of the Pool Balance | 9.94% | $2113495076.19 | $0.00 |
|  **Total Loan Series 2021-2 Excess Concentration Amount** |  |  | $**112169397.83** |

---

------

Page 5 of 6

------

**Verizon Master Trust - VZMT 2021-2** 

**Monthly Investor Report** 

Group Name One

On and as of the Payment Date to which this Monthly Investor Report related, the Servicer hereby certifies that the information in the Monthly Investor Report is accurate in all material respects.

---

| | |
|:---|:---|
| **Cellco Partnership, as Servicer** | **Cellco Partnership, as Servicer** |
| **Dated:** February 15, 2023 | **Dated:** February 15, 2023 |
| By: | /s/ Kee Chan Sin |
|  | **Name: Kee Chan Sin** |
|  | **Title: Vice President and Assistant Treasurer** |

---

---

| | |
|:---|:---|
| 1 | As of the date of this Monthly Investor Report for purposes of any references to the term "delinquent" contained herein, the Servicer considers an account to be delinquent if there are unpaid charges remaining on the account on the day after the bill's due date and calculates delinquency assuming a due date is 22 or 30 days after the end of the monthly bill cycle for consumer customers and business customers, respectively.  |

---

Page 6 of 6

## Exhibit 99.4

**Exhibit 99.4** 

**Verizon Master Trust - VZMT 2022-1** 

**Monthly Investor Report** 

Group Name One

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; Series Name | 2022-1 |
| &nbsp;&nbsp;&nbsp; Collection Period | January 2023 |
| &nbsp;&nbsp;&nbsp; Payment Date | 02/21/2023 |
| &nbsp;&nbsp;&nbsp; Transaction Month | 13 |
| &nbsp;&nbsp;&nbsp; Anticipated Redemption Date | 07/20/2023 |
| &nbsp;&nbsp;&nbsp; Series Status at End of Prior Payment Date | Revolving |

---

---

| | | | |
|:---|:---|:---|:---|
| **Offered Notes** | Issuance Note | Note Interest Rate | Final Maturity Date |
|  Class A | $798900000.00 | 1.04% | 01/20/2027 |
|  Class B | $64100000.00 | 1.27% | 01/20/2027 |
|  Class C | $37000000.00 | 1.39% | 01/20/2027 |
|  **Total** | $**900000000.00** |  |  |

---

------

**<u>Series 2022-1 Available Funds and other sources of funds</u>**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1 Allocation Percentage x Group One Available Funds | $52937875.12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts paid by the Cap Counterparty | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Available Subordinated Amounts | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts drawn on the Reserve Account | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts released from Principal Funding Account | $0.00 |
|  **Total Available Funds** | $**52937875.12** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **<u>Reserve Account Calculation</u>** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beginning of Period Reserve Account Balance | $9863013.70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Required Reserve Amount | $9863013.70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shortfall in Required Reserve Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account funds needed this period (True/False) | FALSE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account draw amount required | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account Deposit Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **End of Period Reserve Account Balance** | $**9863013.70** |

---

Page 1 of 6

------

**Verizon Master Trust - VZMT 2022-1** 

**Monthly Investor Report** 

Group Name One

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Distribution** | **Amount Due** | **Amount Paid** | **Shortfall** | **Carryover<br>Shortfall** | **Remaining<br>Available Funds** |
|  Master Collateral Agent Fee | $85.93 | $85.93 | $0.00 | $0.00 | $52937789.19 |
|  Indenture Trustee Fee | $1250.00 | $1250.00 | $0.00 | $0.00 | $52936539.19 |
|  Owner Trustee Fee | $15000.00 | $15000.00 | $0.00 | $0.00 | $52921539.19 |
|  Asset Representations Reviewer Fee | $41.77 | $41.77 | $0.00 | $0.00 | $52921497.42 |
|  Servicing Fee | $670647.43 | $670647.43 | $0.00 | $0.00 | $52250849.99 |
|  Class A Note Interest | $692380.00 | $692380.00 | $0.00 | $0.00 | $51558469.99 |
|  First Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $51558469.99 |
|  Class B Note Interest | $67839.17 | $67839.17 | $0.00 | $0.00 | $51490630.82 |
|  Second Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $51490630.82 |
|  Class C Note Interest | $42858.33 | $42858.33 | $0.00 | $0.00 | $51447772.49 |
|  Third Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $51447772.49 |
|  Reserve Account up to Required Reserve Amount | $0.00 | $0.00 | $0.00 | $0.00 | $51447772.49 |
|  Regular Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $51447772.49 |
|  Supplemental Successor Servicer Fee | $0.00 | $0.00 | $0.00 | $0.00 | $51447772.49 |
|  Additional Interest Amounts | $0.00 | $0.00 | $0.00 | $0.00 | $51447772.49 |
|  Make-Whole Payments | $0.00 | $0.00 | $0.00 | $0.00 | $51447772.49 |
|  Additional Fees and Expenses | $0.00 | $0.00 | $0.00 | $0.00 | $51447772.49 |
|  Additional Trust Expenses | $0.00 | $0.00 | $0.00 | $0.00 | $51447772.49 |
|  Class R Interest | $51447772.49 | $51447772.49 | $0.00 | $0.00 | $0.00 |
|  **Total** | $**52937875.12** | $**52937875.12** | $**0.00** |  |  |

---

---

| | |
|:---|:---|
|  **Principal Payment:** |  |
|  First Priority Principal Payment | $0.00 |
|  Second Priority Principal Payment | $0.00 |
|  Third Priority Principal Payment | $0.00 |
|  Regular Principal Payment | $0.00 |
|  Accelerated Note Balances | $0.00 |
|  **Total** | $**0.00** |

---

------

Page 2 of 6

------

**Verizon Master Trust - VZMT 2022-1** 

**Monthly Investor Report** 

Group Name One

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Noteholder Payments** | **Note Balance** | **PFA Account** | **Interest Payment** | **Add'l Interest** | **Make-Whole** | **Total<br>Payment** |
|  Class A | $0.00 | $0.00 | $692380.00 | $0.00 | $0.00 | $692380.00 |
|  Class B | $0.00 | $0.00 | $67839.17 | $0.00 | $0.00 | $67839.17 |
|  Class C | $0.00 | $0.00 | $42858.33 | $0.00 | $0.00 | $42858.33 |
|  **Total** | $**0.00** | $**0.00** | $**803077.50** | $**0.00** | $**0.00** | $**803077.50** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Note Balance per**<br>**$1,000 of Notes** | **Interest Payment**<br>**per $1,000 of Notes** | **Make-Whole Payment**<br>**per $1,000 of Notes** | **Total Payment per**<br>**$1,000 of Notes** |
|  Class A | $1000.00 | $0.87 | $0.00 | $0.87 |
|  Class B | $1000.00 | $1.06 | $0.00 | $1.06 |
|  Class C | $1000.00 | $1.16 | $0.00 | $1.16 |
|  **Total** | $**1000.00** | $**0.89** | $**0.00** | $**0.89** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of prior Payment Date** | **As of prior Payment Date** | **As of current Payment Date** | **As of current Payment Date** |
|  | **Balance** | **Note Pool Factor** | **Balance** | **Note Pool Factor** |
|  Class A | $798900000.00 | 1.00 | $798900000.00 | 1.00 |
|  Class B | $64100000.00 | 1.00 | $64100000.00 | 1.00 |
|  Class C | $37000000.00 | 1.00 | $37000000.00 | 1.00 |
|  **Total** | $**900000000.00** | **1.00** | $**900000000.00** | **1.00** |

---

------

---

| | |
|:---|:---|
|  **<u>Principal Funding Account</u>** |  |
|  Beginning Principal Funding Account Limit | $450000000.00 |
|  Ending Principal Funding Account Limit | $450000000.00 |
|  Beginning of period Principal Funding Account balance | $0.00 |
|  Add: Deposit to Principal Funding Account | $0.00 |
|  End of period Principal Funding Account Balance | $0.00 |

---

------

Page 3 of 6

------

**Verizon Master Trust - VZMT 2022-1** 

**Monthly Investor Report** 

Group Name One

**<u>Amortization Event Tests</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | **End of Prior**<br>**Period** | **End of Current**<br>**Period** | **In Compliance?** |
| **Delinquency and Write-Offs** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For any Payment Date, the sum of the fractions, expressed as percentages, for each of the three (3) Collection Periods immediately preceding that Payment Date, calculated by dividing the aggregate Principal Balance of all Receivables that are ninety-one (91) days or more delinquent at the end of each of the three (3) prior Collection Periods by the Pool Balance as of the last day of each of those Collection Periods, divided by three (3), exceeds 2.00% | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For any Payment Date, the sum of the fractions, expressed as percentages, for each of the three (3) Collection Periods immediately preceding that Payment Date, calculated by dividing the aggregate Principal Balance of all Receivables which became Written-Off Receivables during each of the three (3) prior Collection Periods by the Pool Balance as of the first day of each of those Collection Periods, multiplied by four (4), exceeds 10.00% | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of any date of determination, the Discounted Series Invested Amount for Series 2022-1 is greater than the excess of (i) the Pool Balance over (ii) the sum of (x) the Ineligible Amount for Series 2022-1 and (y) the Series 2022-1 Excess Concentration Amount | FALSE | FALSE | TRUE |
|  **Payments** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On any Payment Date, interest due is not paid on any class of Notes | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On the fifth Business Day after any Payment Date during the Revolving Period, after giving effect to distributions on such Payment Date, the sum of the amount on deposit in the Reserve Account plus, if a Letter of Credit has been issued for the benefit of the Notes, the amount available under the Letter of Credit, is less than the Required Reserve Amount | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of the Anticipated Redemption Date, the Trust has not redeemed the Notes | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of any Payment Date, a Pool Balance Deficit exists after giving effect to distributions on such Payment Date (including deposits to the Principal Funding Account on such Payment Date) | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to any Payment Date, the Series 2022-1 Allocated Pool Balance is less than 50.00% of (x) the aggregate Note Balance minus (y) the amount on deposit in the Principal Funding Account, in each case as of such Payment Date | FALSE | FALSE | TRUE |
|  **Servicing and Event of Default** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A Servicer Termination Event has occurred and is continuing | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An Event of Default has occurred and is continuing | FALSE | FALSE | TRUE |

---

Page 4 of 6

------

**Verizon Master Trust - VZMT 2022-1** 

**Monthly Investor Report** 

Group Name One

**<u>Excess Concentration Amount</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | **Actual %<br>or Amt** | **Actual $** | **Excess $** |
| **Consumer & Business, Without duplication** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Receivables with Obligors that have less than sixty (60) months of Customer Tenure with Verizon Wireless exceeds 45.00% of the Pool Balances | 35.92% | $7638137729.97 | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Receivables with Obligors that have less than twelve (12) months of Customer Tenure with Verizon Wireless exceeds 22.00% of the Pool Balance | 13.94% | $2962876795.23 | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to all Receivables for which the origination date was less than thirty-one (31) days prior to the related Cutoff Date, or in the case of any determination made on a Payment Date, the last day of the related Collection Period, the product of (i) the aggregate Principal Balance of all such Receivables and (ii) 10.00% | 10.00% | $1121693978.30 | $112169397.83 |
|  **Consumer Only, Without duplication (If Consumer Receivable Condition is satisfied)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The aggregate Principal Balance of all Consumer Receivables with the lowest FICO<sup>®</sup> Scores that would need to be excluded from the calculation of the Pool Balance of all Consumer Receivables in order to cause the weighted average FICO<sup>®</sup> Score of the Consumer Obligors with respect to all Consumer Receivables (weighted based on Principal Balances) included in such calculation of the Pool Balance of all Consumer Receivables to be at least 700 (excluding any Consumer Receivables with Consumer Obligors for whom FICO<sup>®</sup> Scores are not available) | 724 | N/A | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Consumer Receivables with Consumer Obligors for whom FICO<sup>®</sup> Scores are not available exceeds 4.50% of the Pool Balance of all Consumer Receivables | 3.48% | $666138415.79 | $0.00 |
| **Business Only, Without duplication** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Business Receivables exceeds 10.00% of the Pool Balance | 9.94% | $2113495076.19 | $0.00 |
|  **Total Loan Series 2022-1 Excess Concentration Amount** |  |  | $**112169397.83** |

---

------

Page 5 of 6

------

**Verizon Master Trust - VZMT 2022-1** 

**Monthly Investor Report** 

Group Name One

On and as of the Payment Date to which this Monthly Investor Report related, the Servicer hereby certifies that the information in the Monthly Investor Report is accurate in all material respects.

---

| | |
|:---|:---|
| **Cellco Partnership, as Servicer** | **Cellco Partnership, as Servicer** |
| **Dated:** February 15, 2023 | **Dated:** February 15, 2023 |
| By: | /s/ Kee Chan Sin |
|  | **Name: Kee Chan Sin** |
|  | **Title: Vice President and Assistant Treasurer** |

---

---

| | |
|:---|:---|
| 1 | As of the date of this Monthly Investor Report for purposes of any references to the term "delinquent" contained herein, the Servicer considers an account to be delinquent if there are unpaid charges remaining on the account on the day after the bill's due date and calculates delinquency assuming a due date is 22 or 30 days after the end of the monthly bill cycle for consumer customers and business customers, respectively.  |

---

EU/UK Risk Retention Disclosure

The Servicer is authorized by the Originators to confirm and hereby confirms that the Originators continue to hold the EU/UK Retained Interest in accordance with the terms of the EU/UK Risk Retention Agreement dated January 25, 2022 and executed in connection with Series 2022-1. Capitalized terms used herein have the meaning given to them in the EU/UK Risk Retention Agreement.

Page 6 of 6

## Exhibit 99.5

**Exhibit 99.5** 

**Verizon Master Trust - VZMT 2022-2** 

**Monthly Investor Report** 

Group Name One

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; Series Name | 2022-2 |
| &nbsp;&nbsp;&nbsp; Collection Period | January 2023 |
| &nbsp;&nbsp;&nbsp; Payment Date | 02/21/2023 |
| &nbsp;&nbsp;&nbsp; Transaction Month | 13 |
| &nbsp;&nbsp;&nbsp; Anticipated Redemption Date | 01/21/2025 |
| &nbsp;&nbsp;&nbsp; Series Status at End of Prior Payment Date | Revolving |

---

---

| | | | |
|:---|:---|:---|:---|
| **Offered Notes** | Issuance Note | Note Interest Rate | Final Maturity Date |
|  Class A | $710100000.00 | 1.53% | 07/20/2028 |
|  Class B | $57000000.00 | 1.83% | 07/20/2028 |
|  Class C | $32900000.00 | 2.01% | 07/20/2028 |
|  **Total** | $**800000000.00** |  |  |

---

------

---

| | |
|:---|:---|
| **<u>Series 2022-2 Available Funds and other sources of funds</u>** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2 Allocation Percentage x Group One Available Funds | $47324132.51 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts paid by the Cap Counterparty | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Available Subordinated Amounts | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts drawn on the Reserve Account | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts released from Principal Funding Account | $0.00 |
|  **Total Available Funds** | $**47324132.51** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **<u>Reserve Account Calculation</u>** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beginning of Period Reserve Account Balance | $8767123.29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Required Reserve Amount | $8767123.29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shortfall in Required Reserve Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account funds needed this period (True/False) | FALSE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account draw amount required | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account Deposit Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **End of Period Reserve Account Balance** | $**8767123.29** |

---

Page 1 of 6

------

**Verizon Master Trust - VZMT 2022-2** 

**Monthly Investor Report** 

Group Name One

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Distribution** | **Amount Due** | **Amount Paid** | **Shortfall** | **Carryover<br>Shortfall** | **Remaining<br>Available Funds** |
|  Master Collateral Agent Fee | $76.82 | $76.82 | $0.00 | $0.00 | $47324055.69 |
|  Indenture Trustee Fee | $1250.00 | $1250.00 | $0.00 | $0.00 | $47322805.69 |
|  Owner Trustee Fee | $15000.00 | $15000.00 | $0.00 | $0.00 | $47307805.69 |
|  Asset Representations Reviewer Fee | $37.34 | $37.34 | $0.00 | $0.00 | $47307768.35 |
|  Servicing Fee | $599529.31 | $599529.31 | $0.00 | $0.00 | $46708239.04 |
|  Class A Note Interest | $905377.50 | $905377.50 | $0.00 | $0.00 | $45802861.54 |
|  First Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $45802861.54 |
|  Class B Note Interest | $86925.00 | $86925.00 | $0.00 | $0.00 | $45715936.54 |
|  Second Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $45715936.54 |
|  Class C Note Interest | $55107.50 | $55107.50 | $0.00 | $0.00 | $45660829.04 |
|  Third Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $45660829.04 |
|  Reserve Account up to Required Reserve Amount | $0.00 | $0.00 | $0.00 | $0.00 | $45660829.04 |
|  Regular Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $45660829.04 |
|  Supplemental Successor Servicer Fee | $0.00 | $0.00 | $0.00 | $0.00 | $45660829.04 |
|  Additional Interest Amounts | $0.00 | $0.00 | $0.00 | $0.00 | $45660829.04 |
|  Make-Whole Payments | $0.00 | $0.00 | $0.00 | $0.00 | $45660829.04 |
|  Additional Fees and Expenses | $0.00 | $0.00 | $0.00 | $0.00 | $45660829.04 |
|  Additional Trust Expenses | $0.00 | $0.00 | $0.00 | $0.00 | $45660829.04 |
|  Class R Interest | $45660829.04 | $45660829.04 | $0.00 | $0.00 | $0.00 |
|  **Total** | $**47324132.51** | $**47324132.51** | $**0.00** |  |  |

---

---

| | |
|:---|:---|
|  **Principal Payment:** |  |
|  First Priority Principal Payment | $0.00 |
|  Second Priority Principal Payment | $0.00 |
|  Third Priority Principal Payment | $0.00 |
|  Regular Principal Payment | $0.00 |
|  Accelerated Note Balances | $0.00 |
|  **Total** | $**0.00** |

---

Page 2 of 6

------

**Verizon Master Trust - VZMT 2022-2** 

**Monthly Investor Report** 

Group Name One

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Noteholder Payments** | **Note Balance** | **PFA Account** | **Interest**<br>**Payment** | **Add'l Interest** | **Make-Whole** | **Total Payment** |
|  Class A | $0.00 | $0.00 | $905377.50 | $0.00 | $0.00 | $905377.50 |
|  Class B | $0.00 | $0.00 | $86925.00 | $0.00 | $0.00 | $86925.00 |
|  Class C | $0.00 | $0.00 | $55107.50 | $0.00 | $0.00 | $55107.50 |
|  **Total** | $**0.00** | $**0.00** | $**1047410.00** | $**0.00** | $**0.00** | $**1047410.00** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Note Balance per**<br>**$1,000 of Notes** | **Interest Payment**<br>**per $1,000 of Notes** | **Make-Whole Payment**<br>**per $1,000 of Notes** | **Total Payment per**<br>**$1,000 of Notes** |
|  Class A | $1000.00 | $1.28 | $0.00 | $1.28 |
|  Class B | $1000.00 | $1.53 | $0.00 | $1.53 |
|  Class C | $1000.00 | $1.68 | $0.00 | $1.68 |
|  **Total** | $**1000.00** | $**1.31** | $**0.00** | $**1.31** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of prior Payment Date** | **As of prior Payment Date** | **As of current Payment Date** | **As of current Payment Date** |
|  | **Balance** | **Note Pool Factor** | **Balance** | **Note Pool Factor** |
|  Class A | $710100000.00 | 1.00 | $710100000.00 | 1.00 |
|  Class B | $57000000.00 | 1.00 | $57000000.00 | 1.00 |
|  Class C | $32900000.00 | 1.00 | $32900000.00 | 1.00 |
|  **Total** | $**800000000.00** | **1.00** | $**800000000.00** | **1.00** |

---

------

---

| | |
|:---|:---|
|  **<u>Principal Funding Account</u>** |  |
|  Beginning Principal Funding Account Limit | $400000000.00 |
|  Ending Principal Funding Account Limit | $400000000.00 |
|  Beginning of period Principal Funding Account balance | $0.00 |
|  Add: Deposit to Principal Funding Account | $0.00 |
|  End of period Principal Funding Account Balance | $0.00 |

---

------

Page 3 of 6

------

**Verizon Master Trust - VZMT 2022-2** 

**Monthly Investor Report** 

Group Name One

**<u>Amortization Event Tests</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | **End of Prior**<br>**Period** | **End of Current**<br>**Period** | **In Compliance?** |
|  **Delinquency and Write-Offs** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For any Payment Date, the sum of the fractions, expressed as percentages, for each of the three (3) Collection Periods immediately preceding that Payment Date, calculated by dividing the aggregate Principal Balance of all Receivables that are ninety-one (91) days or more delinquent at the end of each of the three (3) prior Collection Periods by the Pool Balance as of the last day of each of those Collection Periods, divided by three (3), exceeds 2.00% | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For any Payment Date, the sum of the fractions, expressed as percentages, for each of the three (3) Collection Periods immediately preceding that Payment Date, calculated by dividing the aggregate Principal Balance of all Receivables which became Written-Off Receivables during each of the three (3) prior Collection Periods by the Pool Balance as of the first day of each of those Collection Periods, multiplied by four (4), exceeds 10.00% | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of any date of determination, the Discounted Series Invested Amount for Series 2022-2 is greater than the excess of (i) the Pool Balance over (ii) the sum of (x) the Ineligible Amount for Series 2022-2 and (y) the Series 2022-2 Excess Concentration Amount | FALSE | FALSE | TRUE |
|  **Payments** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On any Payment Date, interest due is not paid on any class of Notes | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On the fifth Business Day after any Payment Date during the Revolving Period, after giving effect to distributions on such Payment Date, the sum of the amount on deposit in the Reserve Account plus, if a Letter of Credit has been issued for the benefit of the Notes, the amount available under the Letter of Credit, is less than the Required Reserve Amount | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of the Anticipated Redemption Date, the Trust has not redeemed the Notes | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of any Payment Date, a Pool Balance Deficit exists after giving effect to distributions on such Payment Date (including deposits to the Principal Funding Account on such Payment Date) | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to any Payment Date, the Series 2022-2 Allocated Pool Balance is less than 50.00% of (x) the aggregate Note Balance minus (y) the amount on deposit in the Principal Funding Account, in each case as of such Payment Date | FALSE | FALSE | TRUE |
|  **Servicing and Event of Default** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A Servicer Termination Event has occurred and is continuing | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An Event of Default has occurred and is continuing | FALSE | FALSE | TRUE |

---

Page 4 of 6

------

**Verizon Master Trust - VZMT 2022-2** 

**Monthly Investor Report** 

Group Name One

**<u>Excess Concentration Amount</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | **Actual %**<br>**or Amt** | **Actual $** | **Excess $** |
| **Consumer & Business, Without duplication** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Receivables with Obligors that have less than sixty (60) months of Customer Tenure with Verizon Wireless exceeds 45.00% of the Pool Balances | 35.92% | $7638137729.97 | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Receivables with Obligors that have less than twelve (12) months of Customer Tenure with Verizon Wireless exceeds 22.00% of the Pool Balance | 13.94% | $2962876795.23 | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to all Receivables for which the origination date was less than thirty-one (31) days prior to the related Cutoff Date, or in the case of any determination made on a Payment Date, the last day of the related Collection Period, the product of (i) the aggregate Principal Balance of all such Receivables and (ii) 10.00% | 10.00% | $1121693978.30 | $112169397.83 |
|  **Consumer Only, Without duplication (If Consumer Receivable Condition is satisfied)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The aggregate Principal Balance of all Consumer Receivables with the lowest FICO<sup>®</sup> Scores that would need to be excluded from the calculation of the Pool Balance of all Consumer Receivables in order to cause the weighted average FICO<sup>®</sup> Score of the Consumer Obligors with respect to all Consumer Receivables (weighted based on Principal Balances) included in such calculation of the Pool Balance of all Consumer Receivables to be at least 700 (excluding any Consumer Receivables with Consumer Obligors for whom FICO<sup>®</sup> Scores are not available) | 724 | N/A | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Consumer Receivables with Consumer Obligors for whom FICO<sup>®</sup> Scores are not available exceeds 4.50% of the Pool Balance of all Consumer Receivables | 3.48% | $666138415.79 | $0.00 |
| **Business Only, Without duplication** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Business Receivables exceeds 10.00% of the Pool Balance | 9.94% | $2113495076.19 | $0.00 |
|  **Total Loan Series 2022-2 Excess Concentration Amount** |  |  | $**112169397.83** |

---

------

Page 5 of 6

------

**Verizon Master Trust - VZMT 2022-2** 

**Monthly Investor Report** 

Group Name One

On and as of the Payment Date to which this Monthly Investor Report related, the Servicer hereby certifies that the information in the Monthly Investor Report is accurate in all material respects.

---

| | |
|:---|:---|
| **Cellco Partnership, as Servicer** | **Cellco Partnership, as Servicer** |
| **Dated:** February 15, 2023 | **Dated:** February 15, 2023 |
| By: | /s/ Kee Chan Sin |
|  | **Name: Kee Chan Sin** |
|  | **Title: Vice President and Assistant Treasurer** |

---

---

| | |
|:---|:---|
| 1 | As of the date of this Monthly Investor Report for purposes of any references to the term "delinquent" contained herein, the Servicer considers an account to be delinquent if there are unpaid charges remaining on the account on the day after the bill's due date and calculates delinquency assuming a due date is 22 or 30 days after the end of the monthly bill cycle for consumer customers and business customers, respectively.  |

---

EU/UK Risk Retention Disclosure

The Servicer is authorized by the Originators to confirm and hereby confirms that the Originators continue to hold the EU/UK Retained Interest in accordance with the terms of the EU/UK Risk Retention Agreement dated January 25, 2022 and executed in connection with Series 2022-2. Capitalized terms used herein have the meaning given to them in the EU/UK Risk Retention Agreement.

Page 6 of 6

## Exhibit 99.6

**Exhibit 99.6** 

**Verizon Master Trust - VZMT 2022-3** 

**Monthly Investor Report** 

Group Name One

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; Series Name | 2022-3 |
| &nbsp;&nbsp;&nbsp; Collection Period | January 2023 |
| &nbsp;&nbsp;&nbsp; Payment Date | 02/21/2023 |
| &nbsp;&nbsp;&nbsp; Transaction Month | 9 |
| &nbsp;&nbsp;&nbsp; Anticipated Redemption Date | 11/20/2023 |
| &nbsp;&nbsp;&nbsp; Series Status at End of Prior Payment Date | Revolving |

---

---

| | | | |
|:---|:---|:---|:---|
| **Offered Notes** | Issuance Note | Note Interest Rate | Final Maturity Date |
|  Class A | $399400000.00 | 3.01% | 05/20/2027 |
|  Class B | $34400000.00 | 3.25% | 05/20/2027 |
|  Class C | $16200000.00 | 3.50% | 05/20/2027 |
|  **Total** | $**450000000.00** |  |  |

---

------

---

| | |
|:---|:---|
| **<u>Series 2022-3 Available Funds and other sources of funds</u>** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-3 Allocation Percentage x Group One Available Funds | $27067634.09 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts paid by the Cap Counterparty | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Available Subordinated Amounts | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts drawn on the Reserve Account | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts released from Principal Funding Account | $0.00 |
|  **Total Available Funds** | $**27067634.09** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **<u>Reserve Account Calculation</u>** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beginning of Period Reserve Account Balance | $4931506.85 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Required Reserve Amount | $4931506.85 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shortfall in Required Reserve Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account funds needed this period (True/False) | FALSE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account draw amount required | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account Deposit Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **End of Period Reserve Account Balance** | $**4931506.85** |

---

Page 1 of 6

------

**Verizon Master Trust - VZMT 2022-3** 

**Monthly Investor Report** 

Group Name One

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Distribution** | **Amount Due** | **Amount Paid** | **Shortfall** | **Carryover**<br>**Shortfall** | **Remaining**<br>**Available Funds** |
|  Master Collateral Agent Fee | $43.94 | $43.94 | $0.00 | $0.00 | $27067590.15 |
|  Indenture Trustee Fee | $1250.00 | $1250.00 | $0.00 | $0.00 | $27066340.15 |
|  Owner Trustee Fee | $0.00 | $0.00 | $0.00 | $0.00 | $27066340.15 |
|  Asset Representations Reviewer Fee | $21.35 | $21.35 | $0.00 | $0.00 | $27066318.80 |
|  Servicing Fee | $342908.35 | $342908.35 | $0.00 | $0.00 | $26723410.45 |
|  Class A Note Interest | $1001828.33 | $1001828.33 | $0.00 | $0.00 | $25721582.12 |
|  First Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $25721582.12 |
|  Class B Note Interest | $93166.67 | $93166.67 | $0.00 | $0.00 | $25628415.45 |
|  Second Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $25628415.45 |
|  Class C Note Interest | $47250.00 | $47250.00 | $0.00 | $0.00 | $25581165.45 |
|  Third Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $25581165.45 |
|  Reserve Account up to Required Reserve Amount | $0.00 | $0.00 | $0.00 | $0.00 | $25581165.45 |
|  Regular Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $25581165.45 |
|  Supplemental Successor Servicer Fee | $0.00 | $0.00 | $0.00 | $0.00 | $25581165.45 |
|  Additional Interest Amounts | $0.00 | $0.00 | $0.00 | $0.00 | $25581165.45 |
|  Make-Whole Payments | $0.00 | $0.00 | $0.00 | $0.00 | $25581165.45 |
|  Additional Fees and Expenses | $0.00 | $0.00 | $0.00 | $0.00 | $25581165.45 |
|  Additional Trust Expenses | $0.00 | $0.00 | $0.00 | $0.00 | $25581165.45 |
|  Class R Interest | $25581165.45 | $25581165.45 | $0.00 | $0.00 | $0.00 |
|  **Total** | $**27067634.09** | $**27067634.09** | $**0.00** |  |  |

---

---

| | |
|:---|:---|
|  **Principal Payment:** |  |
|  First Priority Principal Payment | $0.00 |
|  Second Priority Principal Payment | $0.00 |
|  Third Priority Principal Payment | $0.00 |
|  Regular Principal Payment | $0.00 |
|  Accelerated Note Balances | $0.00 |
|  **Total** | $**0.00** |

---

------

Page 2 of 6

------

**Verizon Master Trust - VZMT 2022-3** 

**Monthly Investor Report** 

Group Name One

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Noteholder Payments** | **Note Balance** | **PFA Account** | **Interest<br>Payment** | **Add'l Interest** | **Make-Whole** | **Total Payment** |
|  Class A | $0.00 | $0.00 | $1001828.33 | $0.00 | $0.00 | $1001828.33 |
|  Class B | $0.00 | $0.00 | $93166.67 | $0.00 | $0.00 | $93166.67 |
|  Class C | $0.00 | $0.00 | $47250.00 | $0.00 | $0.00 | $47250.00 |
|  **Total** | $**0.00** | $**0.00** | $**1142245.00** | $**0.00** | $**0.00** | $**1142245.00** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Note Balance per<br>$1,000 of Notes** | **Interest Payment<br>per $1,000 of Notes** | **Make-Whole Payment<br>per $1,000 of Notes** | **Total Payment per<br>$1,000 of Notes** |
|  Class A | $1000.00 | $2.51 | $0.00 | $2.51 |
|  Class B | $1000.00 | $2.71 | $0.00 | $2.71 |
|  Class C | $1000.00 | $2.92 | $0.00 | $2.92 |
|  **Total** | $**1000.00** | $**2.54** | $**0.00** | $**2.54** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of prior Payment Date** | **As of prior Payment Date** | **As of current Payment Date** | **As of current Payment Date** |
|  | **Balance** | **Note Pool Factor** | **Balance** | **Note Pool Factor** |
|  Class A | $399400000.00 | 1.00 | $399400000.00 | 1.00 |
|  Class B | $34400000.00 | 1.00 | $34400000.00 | 1.00 |
|  Class C | $16200000.00 | 1.00 | $16200000.00 | 1.00 |
|  **Total** | $**450000000.00** | **1.00** | $**450000000.00** | **1.00** |

---

---

| | |
|:---|:---|
|  **<u>Principal Funding Account</u>** |  |
|  Beginning Principal Funding Account Limit | $225000000.00 |
|  Ending Principal Funding Account Limit | $225000000.00 |
|  Beginning of period Principal Funding Account balance | $0.00 |
|  Add: Deposit to Principal Funding Account | $0.00 |
|  End of period Principal Funding Account Balance | $0.00 |

---

------

Page 3 of 6

------

**Verizon Master Trust - VZMT 2022-3** 

**Monthly Investor Report** 

Group Name One

**<u>Amortization Event Tests</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | **End of Prior<br>Period** | **End of Current<br>Period** | **In Compliance?** |
|  **Delinquency and Write-Offs** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For any Payment Date, the sum of the fractions, expressed as percentages, for each of the three (3) Collection Periods immediately preceding that Payment Date, calculated by dividing the aggregate Principal Balance of all Receivables that are ninety-one (91) days or more delinquent at the end of each of the three (3) prior Collection Periods by the Pool Balance as of the last day of each of those Collection Periods, divided by three (3), exceeds 2.00% | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For any Payment Date, the sum of the fractions, expressed as percentages, for each of the three (3) Collection Periods immediately preceding that Payment Date, calculated by dividing the aggregate Principal Balance of all Receivables which became Written-Off Receivables during each of the three (3) prior Collection Periods by the Pool Balance as of the first day of each of those Collection Periods, multiplied by four (4), exceeds 10.00% | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of any date of determination, the Discounted Series Invested Amount for Series 2022-3 is greater than the excess of (i) the Pool Balance over (ii) the sum of (x) the Ineligible Amount for Series 2022-3 and (y) the Series 2022-3 Excess Concentration Amount | FALSE | FALSE | TRUE |
|  **Payments** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On any Payment Date, interest due is not paid on any class of Notes | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On the fifth Business Day after any Payment Date during the Revolving Period, after giving effect to distributions on such Payment Date, the sum of the amount on deposit in the Reserve Account plus, if a Letter of Credit has been issued for the benefit of the Notes, the amount available under the Letter of Credit, is less than the Required Reserve Amount | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of the Anticipated Redemption Date, the Trust has not redeemed the Notes | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of any Payment Date, a Pool Balance Deficit exists after giving effect to distributions on such Payment Date (including deposits to the Principal Funding Account on such Payment Date) | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to any Payment Date, the Series 2022-3 Allocated Pool Balance is less than 50.00% of (x) the aggregate Note Balance minus (y) the amount on deposit in the Principal Funding Account, in each case as of such Payment Date | FALSE | FALSE | TRUE |
|  **Servicing and Event of Default** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A Servicer Termination Event has occurred and is continuing | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An Event of Default has occurred and is continuing | FALSE | FALSE | TRUE |

---

Page 4 of 6

------

**Verizon Master Trust - VZMT 2022-3** 

**Monthly Investor Report** 

Group Name One

**<u>Excess Concentration Amount</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | **Actual %<br>or Amt** | **Actual $** | **Excess $** |
| **Consumer & Business, Without duplication** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Receivables with Obligors that have less than sixty (60) months of Customer Tenure with Verizon Wireless exceeds 45.00% of the Pool Balances | 35.92% | $7638137729.97 | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Receivables with Obligors that have less than twelve (12) months of Customer Tenure with Verizon Wireless exceeds 22.00% of the Pool Balance | 13.94% | $2962876795.23 | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to all Receivables for which the origination date was less than thirty-one (31) days prior to the related Cutoff Date, or in the case of any determination made on a Payment Date, the last day of the related Collection Period, the product of (i) the aggregate Principal Balance of all such Receivables and (ii) 10.00% | 10.00% | $1121693978.30 | $112169397.83 |
|  **Consumer Only, Without duplication (If Consumer Receivable Condition is satisfied)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The aggregate Principal Balance of all Consumer Receivables with the lowest FICO<sup>®</sup> Scores that would need to be excluded from the calculation of the Pool Balance of all Consumer Receivables in order to cause the weighted average FICO<sup>®</sup> Score of the Consumer Obligors with respect to all Consumer Receivables (weighted based on Principal Balances) included in such calculation of the Pool Balance of all Consumer Receivables to be at least 700 (excluding any Consumer Receivables with Consumer Obligors for whom FICO<sup>®</sup> Scores are not available) | 724 | N/A | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Consumer Receivables with Consumer Obligors for whom FICO<sup>®</sup> Scores are not available exceeds 4.50% of the Pool Balance of all Consumer Receivables | 3.48% | $666138415.79 | $0.00 |
| **Business Only, Without duplication** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Business Receivables exceeds 10.00% of the Pool Balance | 9.94% | $2113495076.19 | $0.00 |
|  **Total Loan Series 2022-3 Excess Concentration Amount** |  |  | $**112169397.83** |

---

------

Page 5 of 6

------

**Verizon Master Trust - VZMT 2022-3** 

**Monthly Investor Report** 

Group Name One

On and as of the Payment Date to which this Monthly Investor Report related, the Servicer hereby certifies that the information in the Monthly Investor Report is accurate in all material respects.

---

| | |
|:---|:---|
| **Cellco Partnership, as Servicer** | **Cellco Partnership, as Servicer** |
| **Dated:** February 15, 2023 | **Dated:** February 15, 2023 |
| By: | /s/ Kee Chan Sin |
|  | **Name: Kee Chan Sin** |
|  | **Title: Vice President and Assistant Treasurer** |

---

---

| | |
|:---|:---|
| 1 | As of the date of this Monthly Investor Report for purposes of any references to the term "delinquent" contained herein, the Servicer considers an account to be delinquent if there are unpaid charges remaining on the account on the day after the bill's due date and calculates delinquency assuming a due date is 22 or 30 days after the end of the monthly bill cycle for consumer customers and business customers, respectively.  |

---

EU/UK Risk Retention Disclosure

The Servicer is authorized by the Originators to confirm and hereby confirms that the Originators continue to hold the EU/UK Retained Interest in accordance with the terms of the EU/UK Risk Retention Agreement dated May 25, 2022 and executed in connection with Series 2022-3. Capitalized terms used herein have the meaning given to them in the EU/UK Risk Retention Agreement.

Page 6 of 6

## Exhibit 99.7

**Exhibit 99.7** 

**Verizon Master Trust - VZMT 2022-4** 

**Monthly Investor Report** 

Group Name One

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; Series Name | 2022-4 |
| &nbsp;&nbsp;&nbsp; Collection Period | January 2023 |
| &nbsp;&nbsp;&nbsp; Payment Date | 02/21/2023 |
| &nbsp;&nbsp;&nbsp; Transaction Month | 9 |
| &nbsp;&nbsp;&nbsp; Anticipated Redemption Date | 05/20/2025 |
| &nbsp;&nbsp;&nbsp; Series Status at End of Prior Payment Date | Revolving |

---

---

| | | | |
|:---|:---|:---|:---|
| **Offered Notes** | Issuance Note | Note Interest Rate | Final Maturity Date |
|  Class A | $488200000.00 | 3.40% | 11/20/2028 |
|  Class B | $42100000.00 | 3.64% | 11/20/2028 |
|  Class C | $19700000.00 | 3.89% | 11/20/2028 |
|  **Total** | $**550000000.00** |  |  |

---

------

---

| | |
|:---|:---|
| **<u>Series 2022-4 Available Funds and other sources of funds</u>** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-4 Allocation Percentage x Group One Available Funds | $33228222.48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts paid by the Cap Counterparty | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Available Subordinated Amounts | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts drawn on the Reserve Account | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts released from Principal Funding Account | $0.00 |
|  **Total Available Funds** | $**33228222.48** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **<u>Reserve Account Calculation</u>** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beginning of Period Reserve Account Balance | $6027397.26 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Required Reserve Amount | $6027397.26 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shortfall in Required Reserve Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account funds needed this period (True/False) | FALSE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account draw amount required | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account Deposit Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **End of Period Reserve Account Balance** | $**6027397.26** |

---

Page 1 of 6

------

**Verizon Master Trust - VZMT 2022-4** 

**Monthly Investor Report** 

Group Name One

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Distribution** | **Amount Due** | **Amount Paid** | **Shortfall** | **Carryover<br>Shortfall** | **Remaining<br>Available Funds** |
|  Master Collateral Agent Fee | $53.94 | $53.94 | $0.00 | $0.00 | $33228168.54 |
|  Indenture Trustee Fee | $1250.00 | $1250.00 | $0.00 | $0.00 | $33226918.54 |
|  Owner Trustee Fee | $0.00 | $0.00 | $0.00 | $0.00 | $33226918.54 |
|  Asset Representations Reviewer Fee | $26.21 | $26.21 | $0.00 | $0.00 | $33226892.33 |
|  Servicing Fee | $420954.22 | $420954.22 | $0.00 | $0.00 | $32805938.11 |
|  Class A Note Interest | $1383233.33 | $1383233.33 | $0.00 | $0.00 | $31422704.78 |
|  First Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $31422704.78 |
|  Class B Note Interest | $127703.33 | $127703.33 | $0.00 | $0.00 | $31295001.45 |
|  Second Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $31295001.45 |
|  Class C Note Interest | $63860.83 | $63860.83 | $0.00 | $0.00 | $31231140.62 |
|  Third Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $31231140.62 |
|  Reserve Account up to Required Reserve Amount | $0.00 | $0.00 | $0.00 | $0.00 | $31231140.62 |
|  Regular Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $31231140.62 |
|  Supplemental Successor Servicer Fee | $0.00 | $0.00 | $0.00 | $0.00 | $31231140.62 |
|  Additional Interest Amounts | $0.00 | $0.00 | $0.00 | $0.00 | $31231140.62 |
|  Make-Whole Payments | $0.00 | $0.00 | $0.00 | $0.00 | $31231140.62 |
|  Additional Fees and Expenses | $0.00 | $0.00 | $0.00 | $0.00 | $31231140.62 |
|  Additional Trust Expenses | $0.00 | $0.00 | $0.00 | $0.00 | $31231140.62 |
|  Class R Interest | $31231140.62 | $31231140.62 | $0.00 | $0.00 | $0.00 |
|  **Total** | $**33228222.48** | $**33228222.48** | $**0.00** |  |  |

---

---

| | |
|:---|:---|
|  **Principal Payment:** |  |
|  First Priority Principal Payment | $0.00 |
|  Second Priority Principal Payment | $0.00 |
|  Third Priority Principal Payment | $0.00 |
|  Regular Principal Payment | $0.00 |
|  Accelerated Note Balances | $0.00 |
|  **Total** | $**0.00** |

---

------

Page 2 of 6

------

**Verizon Master Trust - VZMT 2022-4** 

**Monthly Investor Report** 

Group Name One

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Noteholder Payments** | **Note Balance** | **PFA<br>Account** | **Interest<br>Payment** | **Add'l Interest** | **Make-Whole** | **Total Payment** |
|  Class A | $0.00 | $0.00 | $1383233.33 | $0.00 | $0.00 | $1383233.33 |
|  Class B | $0.00 | $0.00 | $127703.33 | $0.00 | $0.00 | $127703.33 |
|  Class C | $0.00 | $0.00 | $63860.83 | $0.00 | $0.00 | $63860.83 |
|  **Total** | $**0.00** | $**0.00** | $**1574797.49** | $**0.00** | $**0.00** | $**1574797.49** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Note Balance per<br>$1,000 of Notes** | **Interest Payment<br>per $1,000 of Notes** | **Make-Whole Payment<br>per $1,000 of Notes** | **Total Payment per<br>$1,000 of Notes** |
|  Class A | $1000.00 | $2.83 | $0.00 | $2.83 |
|  Class B | $1000.00 | $3.03 | $0.00 | $3.03 |
|  Class C | $1000.00 | $3.24 | $0.00 | $3.24 |
|  **Total** | $**1000.00** | $**2.86** | $**0.00** | $**2.86** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of prior Payment Date** | **As of prior Payment Date** | **As of current Payment Date** | **As of current Payment Date** |
|  | **Balance** | **Note Pool Factor** | **Balance** | **Note Pool Factor** |
|  Class A | $488200000.00 | 1.00 | $488200000.00 | 1.00 |
|  Class B | $42100000.00 | 1.00 | $42100000.00 | 1.00 |
|  Class C | $19700000.00 | 1.00 | $19700000.00 | 1.00 |
|  **Total** | $**550000000.00** | **1.00** | $**550000000.00** | **1.00** |

---

------

---

| | |
|:---|:---|
|  **<u>Principal Funding Account</u>** |  |
|  Beginning Principal Funding Account Limit | $275000000.00 |
|  Ending Principal Funding Account Limit | $275000000.00 |
|  Beginning of period Principal Funding Account balance | $0.00 |
|  Add: Deposit to Principal Funding Account | $0.00 |
|  End of period Principal Funding Account Balance | $0.00 |

---

------

Page 3 of 6

------

**Verizon Master Trust - VZMT 2022-4** 

**Monthly Investor Report** 

Group Name One

**<u>Amortization Event Tests</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | **End of Prior<br>Period** | **End of Current<br>Period** | **In Compliance?** |
|  **Delinquency and Write-Offs** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For any Payment Date, the sum of the fractions, expressed as percentages, for each of the three (3) Collection Periods immediately preceding that Payment Date, calculated by dividing the aggregate Principal Balance of all Receivables that are ninety-one (91) days or more delinquent at the end of each of the three (3) prior Collection Periods by the Pool Balance as of the last day of each of those Collection Periods, divided by three (3), exceeds 2.00% | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For any Payment Date, the sum of the fractions, expressed as percentages, for each of the three (3) Collection Periods immediately preceding that Payment Date, calculated by dividing the aggregate Principal Balance of all Receivables which became Written-Off Receivables during each of the three (3) prior Collection Periods by the Pool Balance as of the first day of each of those Collection Periods, multiplied by four (4), exceeds 10.00% | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of any date of determination, the Discounted Series Invested Amount for Series 2022-4 is greater than the excess of (i) the Pool Balance over (ii) the sum of (x) the Ineligible Amount for Series 2022-4 and (y) the Series 2022-4 Excess Concentration Amount | FALSE | FALSE | TRUE |
|  **Payments** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On any Payment Date, interest due is not paid on any class of Notes | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On the fifth Business Day after any Payment Date during the Revolving Period, after giving effect to distributions on such Payment Date, the sum of the amount on deposit in the Reserve Account plus, if a Letter of Credit has been issued for the benefit of the Notes, the amount available under the Letter of Credit, is less than the Required Reserve Amount | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of the Anticipated Redemption Date, the Trust has not redeemed the Notes | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of any Payment Date, a Pool Balance Deficit exists after giving effect to distributions on such Payment Date (including deposits to the Principal Funding Account on such Payment Date) | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to any Payment Date, the Series 2022-4 Allocated Pool Balance is less than 50.00% of (x) the aggregate Note Balance minus (y) the amount on deposit in the Principal Funding Account, in each case as of such Payment Date | FALSE | FALSE | TRUE |
|  **Servicing and Event of Default** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A Servicer Termination Event has occurred and is continuing | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An Event of Default has occurred and is continuing | FALSE | FALSE | TRUE |

---

Page 4 of 6

------

**Verizon Master Trust - VZMT 2022-4** 

**Monthly Investor Report** 

Group Name One

**<u>Excess Concentration Amount</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | **Actual %<br>or Amt** | **Actual $** | **Excess $** |
| **Consumer & Business, Without duplication** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Receivables with Obligors that have less than sixty (60) months of Customer Tenure with Verizon Wireless exceeds 45.00% of the Pool Balances | 35.92% | $7638137729.97 | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Receivables with Obligors that have less than twelve (12) months of Customer Tenure with Verizon Wireless exceeds 22.00% of the Pool Balance | 13.94% | $2962876795.23 | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to all Receivables for which the origination date was less than thirty-one (31) days prior to the related Cutoff Date, or in the case of any determination made on a Payment Date, the last day of the related Collection Period, the product of (i) the aggregate Principal Balance of all such Receivables and (ii) 10.00% | 10.00% | $1121693978.30 | $112169397.83 |
|  **Consumer Only, Without duplication (If Consumer Receivable Condition is satisfied)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The aggregate Principal Balance of all Consumer Receivables with the lowest FICO<sup>®</sup> Scores that would need to be excluded from the calculation of the Pool Balance of all Consumer Receivables in order to cause the weighted average FICO<sup>®</sup> Score of the Consumer Obligors with respect to all Consumer Receivables (weighted based on Principal Balances) included in such calculation of the Pool Balance of all Consumer Receivables to be at least 700 (excluding any Consumer Receivables with Consumer Obligors for whom FICO<sup>®</sup> Scores are not available) | 724 | N/A | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Consumer Receivables with Consumer Obligors for whom FICO<sup>®</sup> Scores are not available exceeds 4.50% of the Pool Balance of all Consumer Receivables | 3.48% | $666138415.79 | $0.00 |
| **Business Only, Without duplication** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Business Receivables exceeds 10.00% of the Pool Balance | 9.94% | $2113495076.19 | $0.00 |
|  **Total Loan Series 2022-4 Excess Concentration Amount** |  |  | $**112169397.83** |

---

------

Page 5 of 6

------

**Verizon Master Trust - VZMT 2022-4** 

**Monthly Investor Report** 

Group Name One

On and as of the Payment Date to which this Monthly Investor Report related, the Servicer hereby certifies that the information in the Monthly Investor Report is accurate in all material respects.

---

| | |
|:---|:---|
| **Cellco Partnership, as Servicer** | **Cellco Partnership, as Servicer** |
| **Dated:** February 15, 2023 | **Dated:** February 15, 2023 |
| By: | /s/ Kee Chan Sin |
|  | **Name: Kee Chan Sin** |
|  | **Title: Vice President and Assistant Treasurer** |

---

---

| | |
|:---|:---|
| 1 | As of the date of this Monthly Investor Report for purposes of any references to the term "delinquent" contained herein, the Servicer considers an account to be delinquent if there are unpaid charges remaining on the account on the day after the bill's due date and calculates delinquency assuming a due date is 22 or 30 days after the end of the monthly bill cycle for consumer customers and business customers, respectively.  |

---

EU/UK Risk Retention Disclosure

The Servicer is authorized by the Originators to confirm and hereby confirms that the Originators continue to hold the EU/UK Retained Interest in accordance with the terms of the EU/UK Risk Retention Agreement dated May 25, 2022 and executed in connection with Series 2022-4. Capitalized terms used herein have the meaning given to them in the EU/UK Risk Retention Agreement.

Page 6 of 6

## Exhibit 99.8

**Exhibit 99.8** 

**Verizon Master Trust - VZMT 2022-5** 

**Monthly Investor Report** 

Group Name One

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; Series Name | 2022-5 |
| &nbsp;&nbsp;&nbsp; Collection Period | January 2023 |
| &nbsp;&nbsp;&nbsp; Payment Date | 02/21/2023 |
| &nbsp;&nbsp;&nbsp; Transaction Month | 6 |
| &nbsp;&nbsp;&nbsp; Anticipated Redemption Date | 01/22/2024 |
| &nbsp;&nbsp;&nbsp; Series Status at End of Prior Payment Date | Revolving |

---

---

| | | | |
|:---|:---|:---|:---|
| **Offered Notes** | Issuance Note | Note Interest Rate | Final Maturity Date |
|  Class A-1a | $351005000.00 | 3.72% | 07/20/2027 |
|  Class A-1b | $57355000.00 | 0.62% | 07/20/2027 |
|  Class B | $35310000.00 | 3.96% | 07/20/2027 |
|  Class C | $16410000.00 | 4.21% | 07/20/2027 |
|  **Total** | $**460080000.00** |  |  |

---

------

---

| | |
|:---|:---|
| **Class A-1b Note Interest Derivation** |  |
|  SOFR Adjustment Date | 02/13/2023 |
|  Compound SOFR for Interest Period | 4.40118% |
|  Spread over Compounded SOFR | 0.62% |
|  Note Interest Rate | 5.02118% |
|  Note Balance at the beginning of the Interest Period | $57355000.00 |
|  Days in the Interest Period | 32 |
|  Note Monthly Interest | $255990.91 |
|  **<u>Series 2022-5 Available Funds and other sources of funds</u>** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-5 Allocation Percentage x Group One Available Funds | $27895192.67 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts paid by the Cap Counterparty | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Available Subordinated Amounts | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts drawn on the Reserve Account | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts released from Principal Funding Account | $0.00 |
|  **Total Available Funds** | $**27895192.67** |

---

Page 1 of 7

------

**Verizon Master Trust - VZMT 2022-5** 

**Monthly Investor Report** 

Group Name One

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **<u>Reserve Account Calculation</u>** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beginning of Period Reserve Account Balance | $5041972.60 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Required Reserve Amount | $5041972.60 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shortfall in Required Reserve Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account funds needed this period (True/False) | FALSE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account draw amount required | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account Deposit Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **End of Period Reserve Account Balance** | $**5041972.60** |

---

Page 2 of 7

------

**Verizon Master Trust - VZMT 2022-5** 

**Monthly Investor Report** 

Group Name One

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Distribution** | **Amount Due** | **Amount Paid** | **Shortfall** | **Carryover<br>Shortfall** | **Remaining<br>Available Funds** |
|  Master Collateral Agent Fee | $45.28 | $45.28 | $0.00 | $0.00 | $27895147.39 |
|  Indenture Trustee Fee | $1250.00 | $1250.00 | $0.00 | $0.00 | $27893897.39 |
|  Owner Trustee Fee | $0.00 | $0.00 | $0.00 | $0.00 | $27893897.39 |
|  Asset Representations Reviewer Fee | $22.01 | $22.01 | $0.00 | $0.00 | $27893875.38 |
|  Supplemental ARR Fee | $254.40 | $254.40 | $0.00 | $0.00 | $27893620.98 |
|  Servicing Fee | $353392.33 | $353392.33 | $0.00 | $0.00 | $27540228.65 |
|  Class A-1a Note Interest | $1088115.50 | $1088115.50 | $0.00 | $0.00 | $26452113.15 |
|  Class A-1b Note Interest | $255990.91 | $255990.91 | $0.00 | $0.00 | $26196122.24 |
|  First Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $26196122.24 |
|  Class B Note Interest | $116523.00 | $116523.00 | $0.00 | $0.00 | $26079599.24 |
|  Second Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $26079599.24 |
|  Class C Note Interest | $57571.75 | $57571.75 | $0.00 | $0.00 | $26022027.49 |
|  Third Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $26022027.49 |
|  Reserve Account up to Required Reserve Amount | $0.00 | $0.00 | $0.00 | $0.00 | $26022027.49 |
|  Regular Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $26022027.49 |
|  Supplemental Successor Servicer Fee | $0.00 | $0.00 | $0.00 | $0.00 | $26022027.49 |
|  Additional Interest Amounts | $0.00 | $0.00 | $0.00 | $0.00 | $26022027.49 |
|  Make-Whole Payments | $0.00 | $0.00 | $0.00 | $0.00 | $26022027.49 |
|  Additional Fees and Expenses | $0.00 | $0.00 | $0.00 | $0.00 | $26022027.49 |
|  Additional Trust Expenses | $0.00 | $0.00 | $0.00 | $0.00 | $26022027.49 |
|  Class R Interest | $26022027.49 | $26022027.49 | $0.00 | $0.00 | $0.00 |
|  **Total** | $**27895192.67** | $**27895192.67** | $**0.00** |  |  |

---

---

| | |
|:---|:---|
|  **Principal Payment:** |  |
|  First Priority Principal Payment | $0.00 |
|  Second Priority Principal Payment | $0.00 |
|  Third Priority Principal Payment | $0.00 |
|  Regular Principal Payment | $0.00 |
|  Accelerated Note Balances | $0.00 |
|  **Total** | $**0.00** |

---

------

Page 3 of 7

------

**Verizon Master Trust - VZMT 2022-5** 

**Monthly Investor Report** 

Group Name One

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Noteholder Payments** | **Note Balance** | **PFA Account** | **Interest<br>Payment** | **Add'l Interest** | **Make-Whole** | **Total Payment** |
|  Class A-1a | $0.00 | $0.00 | $1088115.50 | $0.00 | $0.00 | $1088115.50 |
|  Class A-1b | $0.00 | $0.00 | $255990.91 | $0.00 | $0.00 | $255990.91 |
|  Class B | $0.00 | $0.00 | $116523.00 | $0.00 | $0.00 | $116523.00 |
|  Class C | $0.00 | $0.00 | $57571.75 | $0.00 | $0.00 | $57571.75 |
|  **Total** | $**0.00** | $**0.00** | $**1518201.16** | $**0.00** | $**0.00** | $**1518201.16** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Note Balance per<br>$1,000 of Notes** | **Interest Payment per<br>$1,000 of Notes** | **Make-Whole Payment<br>per $1,000 of Notes** | **Total Payment per<br>$1,000 of Notes** |
|  Class A-1a | $1000.00 | $3.10 | $0.00 | $3.10 |
|  Class A-1b | $1000.00 | $4.46 | $0.00 | $4.46 |
|  Class B | $1000.00 | $3.30 | $0.00 | $3.30 |
|  Class C | $1000.00 | $3.51 | $0.00 | $3.51 |
|  **Total** | $**1000.00** | $**3.30** | $**0.00** | $**3.30** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of prior Payment Date** | **As of prior Payment Date** | **As of current Payment Date** | **As of current Payment Date** |
|  | **Balance** | **Note Pool Factor** | **Balance** | **Note Pool Factor** |
|  Class A-1a | $351005000.00 | 1.00 | $351005000.00 | 1.00 |
|  Class A-1b | $57355000.00 | 1.00 | $57355000.00 | 1.00 |
|  Class B | $35310000.00 | 1.00 | $35310000.00 | 1.00 |
|  Class C | $16410000.00 | 1.00 | $16410000.00 | 1.00 |
|  **Total** | $**460080000.00** | **1.00** | $**460080000.00** | **1.00** |

---

---

| | |
|:---|:---|
|  **<u>Principal Funding Account</u>** |  |
|  Beginning Principal Funding Account Limit | $230040000.00 |
|  Ending Principal Funding Account Limit | $230040000.00 |
|  Beginning of period Principal Funding Account balance | $0.00 |
|  Add: Deposit to Principal Funding Account | $0.00 |
|  End of period Principal Funding Account Balance | $0.00 |

---

------

Page 4 of 7

------

**Verizon Master Trust - VZMT 2022-5** 

**Monthly Investor Report** 

Group Name One

**<u>Amortization Event Tests</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | **End of Prior**<br>**Period** | **End of Current**<br>**Period** | **In Compliance?** |
|  **Delinquency and Write-Offs** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For any Payment Date, the sum of the fractions, expressed as percentages, for each of the three (3) Collection Periods immediately preceding that Payment Date, calculated by dividing the aggregate Principal Balance of all Receivables that are ninety-one (91) days or more delinquent at the end of each of the three (3) prior Collection Periods by the Pool Balance as of the last day of each of those Collection Periods, divided by three (3), exceeds 2.00% | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For any Payment Date, the sum of the fractions, expressed as percentages, for each of the three (3) Collection Periods immediately preceding that Payment Date, calculated by dividing the aggregate Principal Balance of all Receivables which became Written-Off Receivables during each of the three (3) prior Collection Periods by the Pool Balance as of the first day of each of those Collection Periods, multiplied by four (4), exceeds 10.00% | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of any date of determination, the Discounted Series Invested Amount for Series 2022-5 is greater than the excess of (i) the Pool Balance over (ii) the sum of (x) the Ineligible Amount for Series 2022-5 and (y) the Series 2022-5 Excess Concentration Amount | FALSE | FALSE | TRUE |
|  **Payments** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On any Payment Date, interest due is not paid on any class of Notes | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On the fifth Business Day after any Payment Date during the Revolving Period, after giving effect to distributions on such Payment Date, the sum of the amount on deposit in the Reserve Account plus, if a Letter of Credit has been issued for the benefit of the Notes, the amount available under the Letter of Credit, is less than the Required Reserve Amount | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of the Anticipated Redemption Date, the Trust has not redeemed the Notes | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of any Payment Date, a Pool Balance Deficit exists after giving effect to distributions on such Payment Date (including deposits to the Principal Funding Account on such Payment Date) | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to any Payment Date, the Series 2022-5 Allocated Pool Balance is less than 50.00% of (x) the aggregate Note Balance minus (y) the amount on deposit in the Principal Funding Account, in each case as of such Payment Date | FALSE | FALSE | TRUE |
|  **Servicing and Event of Default** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A Servicer Termination Event has occurred and is continuing | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An Event of Default has occurred and is continuing | FALSE | FALSE | TRUE |

---

Page 5 of 7

------

**Verizon Master Trust - VZMT 2022-5** 

**Monthly Investor Report** 

Group Name One

**<u>Excess Concentration Amount</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | **Actual %<br>or Amt** | **Actual $** | **Excess $** |
| **Consumer & Business, Without duplication** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Receivables with Obligors that have less than sixty (60) months of Customer Tenure with Verizon Wireless exceeds 45.00% of the Pool Balances | 35.92% | $7638137729.97 | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Receivables with Obligors that have less than twelve (12) months of Customer Tenure with Verizon Wireless exceeds 22.00% of the Pool Balance | 13.94% | $2962876795.23 | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to all Receivables for which the origination date was less than thirty-one (31) days prior to the related Cutoff Date, or in the case of any determination made on a Payment Date, the last day of the related Collection Period, the product of (i) the aggregate Principal Balance of all such Receivables and (ii) 10.00% | 10.00% | $1121693978.30 | $112169397.83 |
|  **Consumer Only, Without duplication (If Consumer Receivable Condition is satisfied)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The aggregate Principal Balance of all Consumer Receivables with the lowest FICO<sup>®</sup> Scores that would need to be excluded from the calculation of the Pool Balance of all Consumer Receivables in order to cause the weighted average FICO<sup>®</sup> Score of the Consumer Obligors with respect to all Consumer Receivables (weighted based on Principal Balances) included in such calculation of the Pool Balance of all Consumer Receivables to be at least 700 (excluding any Consumer Receivables with Consumer Obligors for whom FICO<sup>®</sup> Scores are not available) | 724 | N/A | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Consumer Receivables with Consumer Obligors for whom FICO<sup>®</sup> Scores are not available exceeds 4.50% of the Pool Balance of all Consumer Receivables | 3.48% | $666138415.79 | $0.00 |
| **Business Only, Without duplication** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Business Receivables exceeds 10.00% of the Pool Balance | 9.94% | $2113495076.19 | $0.00 |
|  **Total Loan Series 2022-5 Excess Concentration Amount** |  |  | $**112169397.83** |

---

------

Page 6 of 7

------

**Verizon Master Trust - VZMT 2022-5** 

**Monthly Investor Report** 

Group Name One

On and as of the Payment Date to which this Monthly Investor Report related, the Servicer hereby certifies that the information in the Monthly Investor Report is accurate in all material respects.

---

| | |
|:---|:---|
| **Cellco Partnership, as Servicer** | **Cellco Partnership, as Servicer** |
| **Dated:** January 15, 2023 | **Dated:** January 15, 2023 |
| By: | /s/ Kee Chan Sin |
|  | **Name: Kee Chan Sin** |
|  | **Title: Vice President and Assistant Treasurer** |

---

---

| | |
|:---|:---|
| 1 | As of the date of this Monthly Investor Report for purposes of any references to the term "delinquent" contained herein, the Servicer considers an account to be delinquent if there are unpaid charges remaining on the account on the day after the bill's due date and calculates delinquency assuming a due date is 22 or 30 days after the end of the monthly bill cycle for consumer customers and business customers, respectively.  |

---

EU/UK Risk Retention Disclosure

The Servicer is authorized by the Originators to confirm and hereby confirms that the Originators continue to hold the EU/UK Retained Interest in accordance with the terms of the EU/UK Risk Retention Agreement dated August 11, 2022 and executed in connection with Series 2022-5. Capitalized terms used herein have the meaning given to them in the EU/UK Risk Retention Agreement.

Page 7 of 7

## Exhibit 99.9

**Exhibit 99.9** 

**Verizon Master Trust - VZMT 2022-6** 

**Monthly Investor Report** 

Group Name One

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; Series Name | 2022-6 |
| &nbsp;&nbsp;&nbsp; Collection Period | January 2023 |
| &nbsp;&nbsp;&nbsp; Payment Date | 02/21/2023 |
| &nbsp;&nbsp;&nbsp; Transaction Month | 6 |
| &nbsp;&nbsp;&nbsp; Anticipated Redemption Date | 07/21/2025 |
| &nbsp;&nbsp;&nbsp; Series Status at End of Prior Payment Date | Revolving |

---

---

| | | | |
|:---|:---|:---|:---|
| **Offered Notes** | Issuance Note | Note Interest Rate | Final Maturity Date |
|  Class A | $479240000.00 | 3.67% | 01/22/2029 |
|  Class B | $41430000.00 | 3.91% | 01/22/2029 |
|  Class C | $19250000.00 | 4.16% | 01/22/2029 |
|  **Total** | $**539920000.00** |  |  |

---

------

---

| | |
|:---|:---|
|  **<u>Series 2022-6 Available Funds and other sources of funds</u>** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-6 Allocation Percentage x Group One Available Funds | $32718031.59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts paid by the Cap Counterparty | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Available Subordinated Amounts | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts drawn on the Reserve Account | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts released from Principal Funding Account | $0.00 |
|  **Total Available Funds** | $**32718031.59** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **<u>Reserve Account Calculation</u>** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beginning of Period Reserve Account Balance | $5916931.51 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Required Reserve Amount | $5916931.51 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shortfall in Required Reserve Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account funds needed this period (True/False) | FALSE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account draw amount required | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account Deposit Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **End of Period Reserve Account Balance** | $**5916931.51** |

---

Page 1 of 6

------

**Verizon Master Trust - VZMT 2022-6** 

**Monthly Investor Report** 

Group Name One

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Distribution** | **Amount Due** | **Amount Paid** | **Shortfall** | **Carryover<br>Shortfall** | **Remaining<br>Available Funds** |
|  Master Collateral Agent Fee | $53.11 | $53.11 | $0.00 | $0.00 | $32717978.48 |
|  Indenture Trustee Fee | $1250.00 | $1250.00 | $0.00 | $0.00 | $32716728.48 |
|  Owner Trustee Fee | $0.00 | $0.00 | $0.00 | $0.00 | $32716728.48 |
|  Asset Representations Reviewer Fee | $25.81 | $25.81 | $0.00 | $0.00 | $32716702.67 |
|  Supplemental ARR Fee | $298.38 | $298.38 | $0.00 | $0.00 | $32716404.29 |
|  Servicing Fee | $414490.83 | $414490.83 | $0.00 | $0.00 | $32301913.46 |
|  Class A Note Interest | $1465675.67 | $1465675.67 | $0.00 | $0.00 | $30836237.79 |
|  First Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $30836237.79 |
|  Class B Note Interest | $134992.75 | $134992.75 | $0.00 | $0.00 | $30701245.04 |
|  Second Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $30701245.04 |
|  Class C Note Interest | $66733.33 | $66733.33 | $0.00 | $0.00 | $30634511.71 |
|  Third Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $30634511.71 |
|  Reserve Account up to Required Reserve Amount | $0.00 | $0.00 | $0.00 | $0.00 | $30634511.71 |
|  Regular Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $30634511.71 |
|  Supplemental Successor Servicer Fee | $0.00 | $0.00 | $0.00 | $0.00 | $30634511.71 |
|  Additional Interest Amounts | $0.00 | $0.00 | $0.00 | $0.00 | $30634511.71 |
|  Make-Whole Payments | $0.00 | $0.00 | $0.00 | $0.00 | $30634511.71 |
|  Additional Fees and Expenses | $0.00 | $0.00 | $0.00 | $0.00 | $30634511.71 |
|  Additional Trust Expenses | $0.00 | $0.00 | $0.00 | $0.00 | $30634511.71 |
|  Class R Interest | $30634511.71 | $30634511.71 | $0.00 | $0.00 | $0.00 |
|  **Total** | $**32718031.59** | $**32718031.59** | $**0.00** |  |  |

---

---

| | |
|:---|:---|
|  **Principal Payment:** |  |
|  First Priority Principal Payment | $0.00 |
|  Second Priority Principal Payment | $0.00 |
|  Third Priority Principal Payment | $0.00 |
|  Regular Principal Payment | $0.00 |
|  Accelerated Note Balances | $0.00 |
|  **Total** | $**0.00** |

---

------

Page 2 of 6

------

**Verizon Master Trust - VZMT 2022-6** 

**Monthly Investor Report** 

Group Name One

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Noteholder Payments** | **Note Balance** | **PFA Account** | **Interest<br>Payment** | **Add'l Interest** | **Make-Whole** | **Total Payment** |
|  Class A | $0.00 | $0.00 | $1465675.67 | $0.00 | $0.00 | $1465675.67 |
|  Class B | $0.00 | $0.00 | $134992.75 | $0.00 | $0.00 | $134992.75 |
|  Class C | $0.00 | $0.00 | $66733.33 | $0.00 | $0.00 | $66733.33 |
|  **Total** | $**0.00** | $**0.00** | $**1667401.75** | $**0.00** | $**0.00** | $**1667401.75** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Note Balance per**<br>**$1,000 of Notes** | **Interest Payment<br>per $1,000 of Notes** | **Make-Whole Payment**<br>**per $1,000 of Notes** | **Total Payment per**<br>**$1,000 of Notes** |
|  Class A | $1000.00 | $3.06 | $0.00 | $3.06 |
|  Class B | $1000.00 | $3.26 | $0.00 | $3.26 |
|  Class C | $1000.00 | $3.47 | $0.00 | $3.47 |
|  **Total** | $**1000.00** | $**3.09** | $**0.00** | $**3.09** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of prior Payment Date** | **As of prior Payment Date** | **As of current Payment Date** | **As of current Payment Date** |
|  | **Balance** | **Note Pool Factor** | **Balance** | **Note Pool Factor** |
|  Class A | $479240000.00 | 1.00 | $479240000.00 | 1.00 |
|  Class B | $41430000.00 | 1.00 | $41430000.00 | 1.00 |
|  Class C | $19250000.00 | 1.00 | $19250000.00 | 1.00 |
|  **Total** | $**539920000.00** | **1.00** | $**539920000.00** | **1.00** |

---

------

---

| | |
|:---|:---|
|  **<u>Principal Funding Account</u>** |  |
|  Beginning Principal Funding Account Limit | $269960000.00 |
|  Ending Principal Funding Account Limit | $269960000.00 |
|  Beginning of period Principal Funding Account balance | $0.00 |
|  Add: Deposit to Principal Funding Account | $0.00 |
|  End of period Principal Funding Account Balance | $0.00 |

---

------

Page 3 of 6

------

**Verizon Master Trust - VZMT 2022-6** 

**Monthly Investor Report** 

Group Name One

**<u>Amortization Event Tests</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | **End of Prior**<br>**Period** | **End of Current**<br>**Period** | **In Compliance?** |
|  **Delinquency and Write-Offs** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For any Payment Date, the sum of the fractions, expressed as percentages, for each of the three (3) Collection Periods immediately preceding that Payment Date, calculated by dividing the aggregate Principal Balance of all Receivables that are ninety-one (91) days or more delinquent at the end of each of the three (3) prior Collection Periods by the Pool Balance as of the last day of each of those Collection Periods, divided by three (3), exceeds 2.00% | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For any Payment Date, the sum of the fractions, expressed as percentages, for each of the three (3) Collection Periods immediately preceding that Payment Date, calculated by dividing the aggregate Principal Balance of all Receivables which became Written-Off Receivables during each of the three (3) prior Collection Periods by the Pool Balance as of the first day of each of those Collection Periods, multiplied by four (4), exceeds 10.00% | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of any date of determination, the Discounted Series Invested Amount for Series 2022-6 is greater than the excess of (i) the Pool Balance over (ii) the sum of (x) the Ineligible Amount for Series 2022-6 and (y) the Series 2022-6 Excess Concentration Amount | FALSE | FALSE | TRUE |
|  **Payments** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On any Payment Date, interest due is not paid on any class of Notes | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On the fifth Business Day after any Payment Date during the Revolving Period, after giving effect to distributions on such Payment Date, the sum of the amount on deposit in the Reserve Account plus, if a Letter of Credit has been issued for the benefit of the Notes, the amount available under the Letter of Credit, is less than the Required Reserve Amount | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of the Anticipated Redemption Date, the Trust has not redeemed the Notes | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of any Payment Date, a Pool Balance Deficit exists after giving effect to distributions on such Payment Date (including deposits to the Principal Funding Account on such Payment Date) | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to any Payment Date, the Series 2022-6 Allocated Pool Balance is less than 50.00% of (x) the aggregate Note Balance minus (y) the amount on deposit in the Principal Funding Account, in each case as of such Payment Date | FALSE | FALSE | TRUE |
|  **Servicing and Event of Default** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A Servicer Termination Event has occurred and is continuing | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An Event of Default has occurred and is continuing | FALSE | FALSE | TRUE |

---

Page 4 of 6

------

**Verizon Master Trust - VZMT 2022-6** 

**Monthly Investor Report** 

Group Name One

**<u>Excess Concentration Amount</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | **Actual %<br>or Amt** | **Actual $** | **Excess $** |
|  **Consumer & Business, Without duplication** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Receivables with Obligors that have less than sixty (60) months of Customer Tenure with Verizon Wireless exceeds 45.00% of the Pool Balances | 35.92% | $7638137729.97 | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Receivables with Obligors that have less than twelve (12) months of Customer Tenure with Verizon Wireless exceeds 22.00% of the Pool Balance | 13.94% | $2962876795.23 | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to all Receivables for which the origination date was less than thirty-one (31) days prior to the related Cutoff Date, or in the case of any determination made on a Payment Date, the last day of the related Collection Period, the product of (i) the aggregate Principal Balance of all such Receivables and (ii) 10.00% | 10.00% | $1121693978.30 | $112169397.83 |
|  **Consumer Only, Without duplication (If Consumer Receivable Condition is satisfied)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The aggregate Principal Balance of all Consumer Receivables with the lowest FICO<sup>®</sup> Scores that would need to be excluded from the calculation of the Pool Balance of all Consumer Receivables in order to cause the weighted average FICO<sup>®</sup> Score of the Consumer Obligors with respect to all Consumer Receivables (weighted based on Principal Balances) included in such calculation of the Pool Balance of all Consumer Receivables to be at least 700 (excluding any Consumer Receivables with Consumer Obligors for whom FICO<sup>®</sup> Scores are not available) | 724 | N/A | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Consumer Receivables with Consumer Obligors for whom FICO<sup>®</sup> Scores are not available exceeds 4.50% of the Pool Balance of all Consumer Receivables | 3.48% | $666138415.79 | $0.00 |
|  **Business Only, Without duplication** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Business Receivables exceeds 10.00% of the Pool Balance | 9.94% | $2113495076.19 | $0.00 |
|  **Total Loan Series 2022-6 Excess Concentration Amount** |  |  | $**112169397.83** |

---

------

Page 5 of 6

------

**Verizon Master Trust - VZMT 2022-6** 

**Monthly Investor Report** 

Group Name One

On and as of the Payment Date to which this Monthly Investor Report related, the Servicer hereby certifies that the information in the Monthly Investor Report is accurate in all material respects.

---

| | |
|:---|:---|
| **Cellco Partnership, as Servicer** | **Cellco Partnership, as Servicer** |
| **Dated:** February 15, 2023 | **Dated:** February 15, 2023 |
| By: | /s/ Kee Chan Sin |
|  | **Name: Kee Chan Sin** |
|  | **Title: Vice President and Assistant Treasurer** |

---

---

| | |
|:---|:---|
| 1 | As of the date of this Monthly Investor Report for purposes of any references to the term "delinquent" contained herein, the Servicer considers an account to be delinquent if there are unpaid charges remaining on the account on the day after the bill's due date and calculates delinquency assuming a due date is 22 or 30 days after the end of the monthly bill cycle for consumer customers and business customers, respectively.  |

---

EU/UK Risk Retention Disclosure

The Servicer is authorized by the Originators to confirm and hereby confirms that the Originators continue to hold the EU/UK Retained Interest in accordance with the terms of the EU/UK Risk Retention Agreement dated August 11, 2022 and executed in connection with Series 2022-6. Capitalized terms used herein have the meaning given to them in the EU/UK Risk Retention Agreement.

Page 6 of 6

## Exhibit 99.10

**Exhibit 99.10** 

**Verizon Master Trust - VZMT 2022-7** 

**Monthly Investor Report** 

Group Name One

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; Series Name | 2022-7 |
| &nbsp;&nbsp;&nbsp; Collection Period | January 2023 |
| &nbsp;&nbsp;&nbsp; Payment Date | 02/21/2023 |
| &nbsp;&nbsp;&nbsp; Transaction Month | 3 |
| &nbsp;&nbsp;&nbsp; Anticipated Redemption Date | 11/20/2024 |
| &nbsp;&nbsp;&nbsp; Series Status at End of Prior Payment Date | Revolving |

---

---

| | | | |
|:---|:---|:---|:---|
| **Offered Notes** | Issuance Note | Note Interest Rate | Final Maturity Date |
|  Class A-1a | $623707000.00 | 5.23% | 11/22/2027 |
|  Class A-1b | $267303000.00 | 0.85% | 11/22/2027 |
|  Class B | $68120000.00 | 5.48% | 11/22/2027 |
|  Class C | $40870000.00 | 5.72% | 11/22/2027 |
|  **Total** | $**1000000000.00** |  |  |

---

---

| | |
|:---|:---|
|  **Class A-1b Note Interest Derivation** |  |
|  SOFR Adjustment Date | 02/13/2023 |
|  Compound SOFR for Interest Period | 4.40118% |
|  Spread over Compounded SOFR | 0.85% |
|  Note Interest Rate | 5.25118% |
|  Note Balance at the beginning of the Interest Period | $267303000.00 |
|  Days in the Interest Period | 32 |
|  Note Monthly Interest | $1247694.37 |
|  **<u>Series 2022-7 Available Funds and other sources of funds</u>** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-7 Allocation Percentage x Group One Available Funds | $61323836.29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts paid by the Cap Counterparty | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Available Subordinated Amounts | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts drawn on the Reserve Account | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts released from Principal Funding Account | $0.00 |
|  **Total Available Funds** | $**61323836.29** |

---

Page 1 of 7

------

**Verizon Master Trust - VZMT 2022-7** 

**Monthly Investor Report** 

Group Name One

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **<u>Reserve Account Calculation</u>** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beginning of Period Reserve Account Balance | $10899182.56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Required Reserve Amount | $10899182.56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shortfall in Required Reserve Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account funds needed this period (True/False) | FALSE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account draw amount required | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account Deposit Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **End of Period Reserve Account Balance** | $**10899182.56** |

---

Page 2 of 7

------

**Verizon Master Trust - VZMT 2022-7** 

**Monthly Investor Report** 

Group Name One

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Distribution** | **Amount Due** | **Amount Paid** | **Shortfall** | **Carryover<br>Shortfall** | **Remaining<br>Available Funds** |
|  Master Collateral Agent Fee | $99.54 | $99.54 | $0.00 | $0.00 | $61323736.75 |
|  Indenture Trustee Fee | $1250.00 | $1250.00 | $0.00 | $0.00 | $61322486.75 |
|  Owner Trustee Fee | $0.00 | $0.00 | $0.00 | $0.00 | $61322486.75 |
|  Asset Representations Reviewer Fee | $48.38 | $48.38 | $0.00 | $0.00 | $61322438.37 |
|  Supplemental ARR Fee | $559.23 | $559.23 | $0.00 | $0.00 | $61321879.14 |
|  Servicing Fee | $776885.60 | $776885.60 | $0.00 | $0.00 | $60544993.54 |
|  Class A-1a Note Interest | $2718323.01 | $2718323.01 | $0.00 | $0.00 | $57826670.53 |
|  Class A-1b Note Interest | $1247694.37 | $1247694.37 | $0.00 | $0.00 | $56578976.16 |
|  First Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $56578976.16 |
|  Class B Note Interest | $311081.33 | $311081.33 | $0.00 | $0.00 | $56267894.83 |
|  Second Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $56267894.83 |
|  Class C Note Interest | $194813.67 | $194813.67 | $0.00 | $0.00 | $56073081.16 |
|  Third Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $56073081.16 |
|  Reserve Account up to Required Reserve Amount | $0.00 | $0.00 | $0.00 | $0.00 | $56073081.16 |
|  Regular Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $56073081.16 |
|  Supplemental Successor Servicer Fee | $0.00 | $0.00 | $0.00 | $0.00 | $56073081.16 |
|  Additional Interest Amounts | $0.00 | $0.00 | $0.00 | $0.00 | $56073081.16 |
|  Make-Whole Payments | $0.00 | $0.00 | $0.00 | $0.00 | $56073081.16 |
|  Additional Fees and Expenses | $0.00 | $0.00 | $0.00 | $0.00 | $56073081.16 |
|  Additional Trust Expenses | $0.00 | $0.00 | $0.00 | $0.00 | $56073081.16 |
|  Class R Interest | $56073081.16 | $56073081.16 | $0.00 | $0.00 | $0.00 |
|  **Total** | $**61323836.29** | $**61323836.29** | $**0.00** |  |  |

---

---

| | |
|:---|:---|
|  **Principal Payment:** |  |
|  First Priority Principal Payment | $0.00 |
|  Second Priority Principal Payment | $0.00 |
|  Third Priority Principal Payment | $0.00 |
|  Regular Principal Payment | $0.00 |
|  Accelerated Note Balances | $0.00 |
|  **Total** | $**0.00** |

---

------

Page 3 of 7

------

**Verizon Master Trust - VZMT 2022-7** 

**Monthly Investor Report** 

Group Name One

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Noteholder Payments** | **Note Balance** | **PFA Account** | **Interest<br>Payment** | **Add'l Interest** | **Make-Whole** | **Total Payment** |
|  Class A-1a | $0.00 | $0.00 | $2718323.01 | $0.00 | $0.00 | $2718323.01 |
|  Class A-1b | $0.00 | $0.00 | $1247694.37 | $0.00 | $0.00 | $1247694.37 |
|  Class B | $0.00 | $0.00 | $311081.33 | $0.00 | $0.00 | $311081.33 |
|  Class C | $0.00 | $0.00 | $194813.67 | $0.00 | $0.00 | $194813.67 |
|  **Total** | $**0.00** | $**0.00** | $**4471912.38** | $**0.00** | $**0.00** | $**4471912.38** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Note Balance per<br>$1,000 of Notes** | **Interest Payment<br>per $1,000 of Notes** | **Make-Whole Payment<br>per $1,000 of Notes** | **Total Payment per<br>$1,000 of Notes** |
|  Class A-1a | $1000.00 | $4.36 | $0.00 | $4.36 |
|  Class A-1b | $1000.00 | $4.67 | $0.00 | $4.67 |
|  Class B | $1000.00 | $4.57 | $0.00 | $4.57 |
|  Class C | $1000.00 | $4.77 | $0.00 | $4.77 |
|  **Total** | $**1000.00** | $**4.47** | $**0.00** | $**4.47** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of prior Payment Date** | **As of prior Payment Date** | **As of current Payment Date** | **As of current Payment Date** |
|  | **Balance** | **Note Pool Factor** | **Balance** | **Note Pool Factor** |
|  Class A-1a | $623707000.00 | 1.00 | $623707000.00 | 1.00 |
|  Class A-1b | $267303000.00 | 1.00 | $267303000.00 | 1.00 |
|  Class B | $68120000.00 | 1.00 | $68120000.00 | 1.00 |
|  Class C | $40870000.00 | 1.00 | $40870000.00 | 1.00 |
|  **Total** | $**1000000000.00** | **1.00** | $**1000000000.00** | **1.00** |

---

------

---

| | |
|:---|:---|
|  **<u>Principal Funding Account</u>** |  |
|  Beginning Principal Funding Account Limit | $500000000.00 |
|  Ending Principal Funding Account Limit | $500000000.00 |
|  Beginning of period Principal Funding Account balance | $0.00 |
|  Add: Deposit to Principal Funding Account | $0.00 |
|  End of period Principal Funding Account Balance | $0.00 |

---

------

Page 4 of 7

------

**Verizon Master Trust - VZMT 2022-7** 

**Monthly Investor Report** 

Group Name One

**<u>Amortization Event Tests</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | **End of Prior<br>Period** | **End of Current<br>Period** | **In Compliance?** |
|  **Delinquency and Write-Offs** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For any Payment Date, the sum of the fractions, expressed as percentages, for each of the three (3) Collection Periods immediately preceding that Payment Date, calculated by dividing the aggregate Principal Balance of all Receivables that are ninety-one (91) days or more delinquent at the end of each of the three (3) prior Collection Periods by the Pool Balance as of the last day of each of those Collection Periods, divided by three (3), exceeds 2.00% | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For any Payment Date, the sum of the fractions, expressed as percentages, for each of the three (3) Collection Periods immediately preceding that Payment Date, calculated by dividing the aggregate Principal Balance of all Receivables which became Written-Off Receivables during each of the three (3) prior Collection Periods by the Pool Balance as of the first day of each of those Collection Periods, multiplied by four (4), exceeds 10.00% | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of any date of determination, the Discounted Series Invested Amount for Series 2022-7 is greater than the excess of (i) the Pool Balance over (ii) the sum of (x) the Ineligible Amount for Series 2022-7 and (y) the Series 2022-7 Excess Concentration Amount | FALSE | FALSE | TRUE |
|  **Payments** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On any Payment Date, interest due is not paid on any class of Notes | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On the fifth Business Day after any Payment Date during the Revolving Period, after giving effect to distributions on such Payment Date, the sum of the amount on deposit in the Reserve Account plus, if a Letter of Credit has been issued for the benefit of the Notes, the amount available under the Letter of Credit, is less than the Required Reserve Amount | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of the Anticipated Redemption Date, the Trust has not redeemed the Notes | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of any Payment Date, a Pool Balance Deficit exists after giving effect to distributions on such Payment Date (including deposits to the Principal Funding Account on such Payment Date) | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to any Payment Date, the Series 2022-7 Allocated Pool Balance is less than 50.00% of (x) the aggregate Note Balance minus (y) the amount on deposit in the Principal Funding Account, in each case as of such Payment Date | FALSE | FALSE | TRUE |
|  **Servicing and Event of Default** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A Servicer Termination Event has occurred and is continuing | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An Event of Default has occurred and is continuing | FALSE | FALSE | TRUE |

---

Page 5 of 7

------

**Verizon Master Trust - VZMT 2022-7** 

**Monthly Investor Report** 

Group Name One

**<u>Excess Concentration Amount</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | **Actual %<br>or Amt** | **Actual $** | **Excess $** |
|  **Consumer & Business, Without duplication** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Receivables with Obligors that have less than sixty (60) months of Customer Tenure with Verizon Wireless exceeds 45.00% of the Pool Balances | 35.92% | $7638137729.97 | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Receivables with Obligors that have less than twelve (12) months of Customer Tenure with Verizon Wireless exceeds 22.00% of the Pool Balance | 13.94% | $2962876795.23 | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to all Receivables for which the origination date was less than thirty-one (31) days prior to the related Cutoff Date, or in the case of any determination made on a Payment Date, the last day of the related Collection Period, the product of (i) the aggregate Principal Balance of all such Receivables and (ii) 10.00% | 10.00% | $1121693978.30 | $112169397.83 |
|  **Consumer Only, Without duplication (If Consumer Receivable Condition is satisfied)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The aggregate Principal Balance of all Consumer Receivables with the lowest FICO<sup>®</sup> Scores that would need to be excluded from the calculation of the Pool Balance of all Consumer Receivables in order to cause the weighted average FICO<sup>®</sup> Score of the Consumer Obligors with respect to all Consumer Receivables (weighted based on Principal Balances) included in such calculation of the Pool Balance of all Consumer Receivables to be at least 700 (excluding any Consumer Receivables with Consumer Obligors for whom FICO<sup>®</sup> Scores are not available) | 724 | N/A | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Consumer Receivables with Consumer Obligors for whom FICO<sup>®</sup> Scores are not available exceeds 4.50% of the Pool Balance of all Consumer Receivables | 3.48% | $666138415.79 | $0.00 |
|  **Business Only, Without duplication** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Business Receivables exceeds 10.00% of the Pool Balance | 9.94% | $2113495076.19 | $0.00 |
|  **Total Loan Series 2022-7 Excess Concentration Amount** |  |  | $**112169397.83** |

---

------

Page 6 of 7

------

**Verizon Master Trust - VZMT 2022-7** 

**Monthly Investor Report** 

Group Name One

On and as of the Payment Date to which this Monthly Investor Report related, the Servicer hereby certifies that the information in the Monthly Investor Report is accurate in all material respects.

---

| | |
|:---|:---|
| **Cellco Partnership, as Servicer** | **Cellco Partnership, as Servicer** |
| **Dated:** February 15, 2023 | **Dated:** February 15, 2023 |
| By: | /s/ Kee Chan Sin |
|  | **Name: Kee Chan Sin** |
|  | **Title: Vice President and Assistant Treasurer** |

---

---

| | |
|:---|:---|
| 1 | As of the date of this Monthly Investor Report for purposes of any references to the term "delinquent" contained herein, the Servicer considers an account to be delinquent if there are unpaid charges remaining on the account on the day after the bill's due date and calculates delinquency assuming a due date is 22 or 30 days after the end of the monthly bill cycle for consumer customers and business customers, respectively.  |

---

Page 7 of 7

## Exhibit 99.11

**Exhibit 99.11** 

**Verizon Master Trust - VZMT 2023-1** 

**Monthly Investor Report** 

Group Name One

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; Series Name | 2023-1 |
| &nbsp;&nbsp;&nbsp; Collection Period | January 2023 |
| &nbsp;&nbsp;&nbsp; Payment Date | 02/21/2023 |
| &nbsp;&nbsp;&nbsp; Transaction Month | 1 |
| &nbsp;&nbsp;&nbsp; Anticipated Redemption Date | 01/20/2026 |
| &nbsp;&nbsp;&nbsp; Series Status at End of Prior Payment Date | Revolving |

---

---

| | | | |
|:---|:---|:---|:---|
| **Offered Notes** | Issuance Note | Note Interest Rate | Final Maturity Date |
|  Class A | $891010000.00 | 4.49% | 01/22/2029 |
|  Class B | $68120000.00 | 4.74% | 01/22/2029 |
|  Class C | $40870000.00 | 4.98% | 01/22/2029 |
|  **Total** | $**1000000000.00** |  |  |

---

---

| | |
|:---|:---|
| **<u>Series 2023-1 Available Funds and other sources of funds</u>** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1 Allocation Percentage x Group One Available Funds | $60610862.74 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts paid by the Cap Counterparty | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Available Subordinated Amounts | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts drawn on the Reserve Account | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts released from Principal Funding Account | $0.00 |
|  **Total Available Funds** | $**60610862.74** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **<u>Reserve Account Calculation</u>** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beginning of Period Reserve Account Balance | $10899182.56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Required Reserve Amount | $10899182.56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shortfall in Required Reserve Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account funds needed this period (True/False) | FALSE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account draw amount required | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserve Account Deposit Amount | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **End of Period Reserve Account Balance** | $**10899182.56** |

---

Page 1 of 6

------

**Verizon Master Trust - VZMT 2023-1** 

**Monthly Investor Report** 

Group Name One

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Distribution** | **Amount Due** | **Amount Paid** | **Shortfall** | **Carryover<br>Shortfall** | **Remaining<br>Available Funds** |
|  Master Collateral Agent Fee | $98.39 | $98.39 | $0.00 | $0.00 | $60610764.35 |
|  Indenture Trustee Fee | $1250.00 | $1250.00 | $0.00 | $0.00 | $60609514.35 |
|  Owner Trustee Fee | $15000.00 | $15000.00 | $0.00 | $0.00 | $60594514.35 |
|  Asset Representations Reviewer Fee | $47.98 | $47.98 | $0.00 | $0.00 | $60594466.37 |
|  Supplemental ARR Fee | $554.66 | $554.66 | $0.00 | $0.00 | $60593911.71 |
|  Servicing Fee | $767853.24 | $767853.24 | $0.00 | $0.00 | $59826058.47 |
|  Class A Note Interest | $2667089.93 | $2667089.93 | $0.00 | $0.00 | $57158968.54 |
|  First Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $57158968.54 |
|  Class B Note Interest | $215259.20 | $215259.20 | $0.00 | $0.00 | $56943709.34 |
|  Second Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $56943709.34 |
|  Class C Note Interest | $135688.40 | $135688.40 | $0.00 | $0.00 | $56808020.94 |
|  Third Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $56808020.94 |
|  Reserve Account up to Required Reserve Amount | $0.00 | $0.00 | $0.00 | $0.00 | $56808020.94 |
|  Regular Priority Principal Payment | $0.00 | $0.00 | $0.00 | $0.00 | $56808020.94 |
|  Supplemental Successor Servicer Fee | $0.00 | $0.00 | $0.00 | $0.00 | $56808020.94 |
|  Additional Interest Amounts | $0.00 | $0.00 | $0.00 | $0.00 | $56808020.94 |
|  Make-Whole Payments | $0.00 | $0.00 | $0.00 | $0.00 | $56808020.94 |
|  Additional Fees and Expenses | $0.00 | $0.00 | $0.00 | $0.00 | $56808020.94 |
|  Additional Trust Expenses | $0.00 | $0.00 | $0.00 | $0.00 | $56808020.94 |
|  Class R Interest | $56808020.94 | $56808020.94 | $0.00 | $0.00 | $0.00 |
|  **Total** | $**60610862.74** | $**60610862.74** | $**0.00** |  |  |

---

---

| | |
|:---|:---|
|  **Principal Payment:** |  |
|  First Priority Principal Payment | $0.00 |
|  Second Priority Principal Payment | $0.00 |
|  Third Priority Principal Payment | $0.00 |
|  Regular Principal Payment | $0.00 |
|  Accelerated Note Balances | $0.00 |
|  **Total** | $**0.00** |

---

------

Page 2 of 6

------

**Verizon Master Trust - VZMT 2023-1** 

**Monthly Investor Report** 

Group Name One

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Noteholder Payments** | **Note Balance** | **PFA<br>Account** | **Interest<br>Payment** | **Add'l Interest** | **Make-Whole** | **Total Payment** |
|  Class A | $0.00 | $0.00 | $2667089.93 | $0.00 | $0.00 | $2667089.93 |
|  Class B | $0.00 | $0.00 | $215259.20 | $0.00 | $0.00 | $215259.20 |
|  Class C | $0.00 | $0.00 | $135688.40 | $0.00 | $0.00 | $135688.40 |
|  **Total** | $**0.00** | $**0.00** | $**3018037.53** | $**0.00** | $**0.00** | $**3018037.53** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Note Balance per<br>$1,000 of Notes** | **Interest Payment<br>per $1,000 of Notes** | **Make-Whole Payment<br>per $1,000 of Notes** | **Total Payment per<br>$1,000 of Notes** |
|  Class A | $1000.00 | $2.99 | $0.00 | $2.99 |
|  Class B | $1000.00 | $3.16 | $0.00 | $3.16 |
|  Class C | $1000.00 | $3.32 | $0.00 | $3.32 |
|  **Total** | $**1000.00** | $**3.02** | $**0.00** | $**3.02** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of prior Payment Date** | **As of prior Payment Date** | **As of current Payment Date** | **As of current Payment Date** |
|  | **Balance** | **Note Pool Factor** | **Balance** | **Note Pool Factor** |
|  Class A | $891010000.00 | 1.00 | $891010000.00 | 1.00 |
|  Class B | $68120000.00 | 1.00 | $68120000.00 | 1.00 |
|  Class C | $40870000.00 | 1.00 | $40870000.00 | 1.00 |
|  **Total** | $**1000000000.00** | **1.00** | $**1000000000.00** | **1.00** |

---

---

| | |
|:---|:---|
|  **<u>Principal Funding Account</u>** |  |
|  Beginning Principal Funding Account Limit | $0.00 |
|  Ending Principal Funding Account Limit | $500000000.00 |
|  Beginning of period Principal Funding Account balance | $0.00 |
|  Add: Deposit to Principal Funding Account | $0.00 |
|  End of period Principal Funding Account Balance | $0.00 |

---

------

Page 3 of 6

------

**Verizon Master Trust - VZMT 2023-1** 

**Monthly Investor Report** 

Group Name One

**<u>Amortization Event Tests</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | **End of Prior<br>Period** | **End of Current<br>Period** | **In Compliance?** |
|  **Delinquency and Write-Offs** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For any Payment Date, the sum of the fractions, expressed as percentages, for each of the three (3) Collection Periods immediately preceding that Payment Date, calculated by dividing the aggregate Principal Balance of all Receivables that are ninety-one (91) days or more delinquent at the end of each of the three (3) prior Collection Periods by the Pool Balance as of the last day of each of those Collection Periods, divided by three (3), exceeds 2.00% | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For any Payment Date, the sum of the fractions, expressed as percentages, for each of the three (3) Collection Periods immediately preceding that Payment Date, calculated by dividing the aggregate Principal Balance of all Receivables which became Written-Off Receivables during each of the three (3) prior Collection Periods by the Pool Balance as of the first day of each of those Collection Periods, multiplied by four (4), exceeds 10.00% | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of any date of determination, the Discounted Series Invested Amount for Series 2023-1 is greater than the excess of (i) the Pool Balance over (ii) the sum of (x) the Ineligible Amount for Series 2023-1 and (y) the Series 2023-1 Excess Concentration Amount | FALSE | FALSE | TRUE |
|  **Payments** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On any Payment Date, interest due is not paid on any class of Notes | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On the fifth Business Day after any Payment Date during the Revolving Period, after giving effect to distributions on such Payment Date, the sum of the amount on deposit in the Reserve Account plus, if a Letter of Credit has been issued for the benefit of the Notes, the amount available under the Letter of Credit, is less than the Required Reserve Amount | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of the Anticipated Redemption Date, the Trust has not redeemed the Notes | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of any Payment Date, a Pool Balance Deficit exists after giving effect to distributions on such Payment Date (including deposits to the Principal Funding Account on such Payment Date) | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to any Payment Date, the Series 2023-1 Allocated Pool Balance is less than 50.00% of (x) the aggregate Note Balance minus (y) the amount on deposit in the Principal Funding Account, in each case as of such Payment Date | FALSE | FALSE | TRUE |
|  **Servicing and Event of Default** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A Servicer Termination Event has occurred and is continuing | FALSE | FALSE | TRUE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An Event of Default has occurred and is continuing | FALSE | FALSE | TRUE |

---

Page 4 of 6

------

**Verizon Master Trust - VZMT 2023-1** 

**Monthly Investor Report** 

Group Name One

**<u>Excess Concentration Amount</u>**

---

| | | | |
|:---|:---|:---|:---|
|  | **Actual %<br>or Amt** | **Actual $** | **Excess $** |
| **Consumer & Business, Without duplication** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Receivables with Obligors that have less than sixty (60) months of Customer Tenure with Verizon Wireless exceeds 45.00% of the Pool Balances | 35.92% | $7638137729.97 | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Receivables with Obligors that have less than twelve (12) months of Customer Tenure with Verizon Wireless exceeds 22.00% of the Pool Balance | 13.94% | $2962876795.23 | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to all Receivables for which the origination date was less than thirty-one (31) days prior to the related Cutoff Date, or in the case of any determination made on a Payment Date, the last day of the related Collection Period, the product of (i) the aggregate Principal Balance of all such Receivables and (ii) 10.00% | 10.00% | $1121693978.30 | $112169397.83 |
|  **Consumer Only, Without duplication (If Consumer Receivable Condition is satisfied)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The aggregate Principal Balance of all Consumer Receivables with the lowest FICO<sup>®</sup> Scores that would need to be excluded from the calculation of the Pool Balance of all Consumer Receivables in order to cause the weighted average FICO<sup>®</sup> Score of the Consumer Obligors with respect to all Consumer Receivables (weighted based on Principal Balances) included in such calculation of the Pool Balance of all Consumer Receivables to be at least 700 (excluding any Consumer Receivables with Consumer Obligors for whom FICO<sup>®</sup> Scores are not available) | 724 | N/A | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Consumer Receivables with Consumer Obligors for whom FICO<sup>®</sup> Scores are not available exceeds 4.50% of the Pool Balance of all Consumer Receivables | 3.48% | $666138415.79 | $0.00 |
| **Business Only, Without duplication** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The amount by which the aggregate Principal Balance of Business Receivables exceeds 10.00% of the Pool Balance | 9.94% | $2113495076.19 | $0.00 |
|  **Total Loan Series 2023-1 Excess Concentration Amount** |  |  | $**112169397.83** |

---

Page 5 of 6

------

**Verizon Master Trust - VZMT 2023-1** 

**Monthly Investor Report** 

Group Name One

Pursuant to the U.S. Risk Retention Rules, the sponsor, either directly or through its majority-owned affiliates, is required to retain an economic interest, which equals at least 5% of the aggregate unpaid principal balance of all outstanding investor ABS interests in Group 1, as wholly offset by the percentage represented by the fair value of the Class R Interest, as Series EHRI, of the fair value of all outstanding ABS interests in Series 2023-1 on the Closing Date, in the credit risk of the Receivables.

On the Closing Date, Verizon DPPA True-up Trust, a majority-owned affiliate of the Sponsor, retained the required economic interest in the credit risk of the Receivables in satisfaction of the Sponsor's obligations under the U.S. Risk Retention Rules in the form of a qualifying "seller's interest," consisting of the Transferor's Interest (which, among other things, is represented by the Certificates), as wholly offset by an "eligible horizontal residual interest" in Series 2023-1 consisting of the Class R Interest.

The fair value of the notes and the Class R Interest, recalculated as of the Closing Date, are summarized below. The totals in the table may not sum due to rounding:

---

| | | |
|:---|:---|:---|
|  | **Fair Value** | **Fair Value<br>(as a percentage)** |
|  Notes | $999802249 | 79.69% |
|  Class R Interest | $254857674 | 20.31% |
|  **Total** | $1254659923 | 100.00% |

---

On and as of the Payment Date to which this Monthly Investor Report related, the Servicer hereby certifies that the information in the Monthly Investor Report is accurate in all material respects.

---

| | |
|:---|:---|
| **Cellco Partnership, as Servicer** | **Cellco Partnership, as Servicer** |
| **Dated:** February 15, 2023 | **Dated:** February 15, 2023 |
| By: | /s/ Kee Chan Sin |
|  | **Name: Kee Chan Sin** |
|  | **Title: Vice President and Assistant Treasurer** |

---

---

| | |
|:---|:---|
| 1 | As of the date of this Monthly Investor Report for purposes of any references to the term "delinquent" contained herein, the Servicer considers an account to be delinquent if there are unpaid charges remaining on the account on the day after the bill's due date and calculates delinquency assuming a due date is 22 or 30 days after the end of the monthly bill cycle for consumer customers and business customers, respectively.  |

---

Page 6 of 6