# EDGAR Filing Document

**Accession Number:** 0001740286
**File Stem:** 0001193125-25-258839
**Filing Date:** 2025-10
**Character Count:** 33648
**Document Hash:** daebdf1cc40dfecce9ea984d3624dfdb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-258839.hdr.sgml**: 20251030

**ACCESSION NUMBER**: 0001193125-25-258839

**CONFORMED SUBMISSION TYPE**: ABS-15G

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20251030

**ITEM INFORMATION**: Findings and Conclusions of the Third Party Due Diligence Provider Obtained by the Issuer

**FILED AS OF DATE**: 20251030

**DATE AS OF CHANGE**: 20251030

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Equipment leases

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** STONEBRIAR COMMERCIAL FINANCE CANADA INC., A BC Corp
- **CENTRAL INDEX KEY:** 0001740286

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-03913
- **FILM NUMBER:** 251437125

**BUSINESS ADDRESS:**
- **STREET 1:** C/O STONEBRIAR COMMERCIAL FINANCE, LLC
- **STREET 2:** 5601 GRANITE PARKWAY, SUITE 1350
- **CITY:** PLANO
- **STATE:** TX
- **ZIP:** 75024
- **BUSINESS PHONE:** 469-609-8500

**MAIL ADDRESS:**
- **STREET 1:** C/O STONEBRIAR COMMERCIAL FINANCE, LLC
- **STREET 2:** 5601 GRANITE PARKWAY, SUITE 1350
- **CITY:** PLANO
- **STATE:** TX
- **ZIP:** 75024
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** STONEBRIAR COMMERCIAL FINANCE CANADA INC., A BC Corp
- **CENTRAL INDEX KEY:** 0001740286

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act

**BUSINESS ADDRESS:**
- **STREET 1:** C/O STONEBRIAR COMMERCIAL FINANCE, LLC
- **STREET 2:** 5601 GRANITE PARKWAY, SUITE 1350
- **CITY:** PLANO
- **STATE:** TX
- **ZIP:** 75024
- **BUSINESS PHONE:** 469-609-8500

**MAIL ADDRESS:**
- **STREET 1:** C/O STONEBRIAR COMMERCIAL FINANCE, LLC
- **STREET 2:** 5601 GRANITE PARKWAY, SUITE 1350
- **CITY:** PLANO
- **STATE:** TX
- **ZIP:** 75024
**SECURITIZER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** STONEBRIAR COMMERCIAL FINANCE CANADA INC., A BC Corp
- **CENTRAL INDEX KEY:** 0001740286

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-03913

**BUSINESS ADDRESS:**
- **STREET 1:** C/O STONEBRIAR COMMERCIAL FINANCE, LLC
- **STREET 2:** 5601 GRANITE PARKWAY, SUITE 1350
- **CITY:** PLANO
- **STATE:** TX
- **ZIP:** 75024
- **BUSINESS PHONE:** 469-609-8500

**MAIL ADDRESS:**
- **STREET 1:** C/O STONEBRIAR COMMERCIAL FINANCE, LLC
- **STREET 2:** 5601 GRANITE PARKWAY, SUITE 1350
- **CITY:** PLANO
- **STATE:** TX
- **ZIP:** 75024

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**WASHINGTON, D.C. 20549** 

**FORM ABS-15G** 

**ASSET-BACKED SECURITIZER** 

**REPORT PURSUANT TO SECTION 15G OF** 

**THE SECURITIES EXCHANGE ACT OF 1934** 

**Check the appropriate box to indicate the filing obligation to which this form is intended to satisfy:** 

☐ **Rule 15Ga-1 under the Exchange Act (17 CFR 240.15Ga-1) for the reporting period<u> </u> to<u> </u>** 

**Date of Report (Date of earliest event reported)<u> </u>** 

**Commission File Number of securitizer:<u> </u>** 

**Central Index Key Number of securitizer:<u> </u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Name and telephone number, including area code, of the person** 

**to contact in connection with this filing.** 

Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(1) ☐

Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i) ☐

Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii) ☐

☒ **Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2)** 

**Central Index Key Number of sponsor: 0001740286** 

**SCF Equipment Leasing Canada 2025-2 Limited Partnership** 

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

**Central Index Key Number of issuing entity (if applicable): Not applicable** 

**Central Index Key Number of underwriter (if applicable): Not applicable** 

**Jason D. Muncy** 

**(469) 609-8528** 

**Name and telephone number, including area code, of the person** 

**to contact in connection with this filing.** 

SEC 2860 (6-15) Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

------

**PART II — FINDINGS AND CONCLUSIONS OF THIRD-PARTY** 

**DUE DILIGENCE REPORTS** 

**Item 2.01 Findings and Conclusions of a Third Party Due Diligence Report Obtained by the Issuer** 

Attached as Exhibit 99.1 hereto is a Report of Independent Accountants on Applying Agreed-Upon Procedures, dated October 30, 2025, of Ernst & Young LLP, which report sets forth the findings and conclusions, as applicable, of Ernst & Young LLP with respect to certain agreed-upon procedures performed by Ernst & Young LLP.

------

**EXHIBIT INDEX** 

99.1 Report of Independent Accountants on Applying Agreed-Upon Procedures, dated October 30, 2025.

------

**SIGNATURES** 

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

Stonebriar Commercial Finance Canada Inc. (Securitizer)

---

| |
|:---|
| /s/ Jason D. Muncy |
| Name: Jason D. Muncy |
| Title: Senior Managing Director –<br> Funding and Investor Relations |
| Date: October 30, 2025 |

---

## Exhibit 99.1

**EXHIBIT 99.1** 

---

| | | |
|:---|:---|:---|
| ![LOGO](g28035dsp1a.jpg) | <br> Ernst & Young LLP<br> One Manhattan West<br> New York, NY 10001 | <br> Tel: +1 212 773 3000<br> ey.com |

---

**Report of Independent Accountants on Applying Agreed-Upon Procedures** 

Stonebriar Commercial Finance LLC (the "Servicer" or "U.S. Originator") SCF Equipment Leasing 2025-2 LLC (the "U.S. Issuer") 5525 Granite Parkway, Suite 1800 Plano, Texas 75024 30 October 2025

Stonebriar Commercial Finance Canada Inc. (the "Canadian Originator")

SCF Equipment Leasing Canada 2025-2 Limited Partnership (the "Canadian Issuer")

2200 HSBC Building

885 West Georgia Street

Vancouver, BC V6C 3E8

---

| | |
|:---|:---|
| **Re:** | **SCF Equipment Leasing 2025-2 LLC**  |

---

**SCF Equipment Leasing Canada 2025-2 Limited Partnership** 

**Equipment Contract Backed Notes, Series 2025-2 (the "Notes")** 

**Contract Agreed-Upon Procedures** 

We have performed the procedure enumerated in Attachment A, which was agreed to and acknowledged as appropriate by the Servicer, U.S. Issuer, Canadian Originator, Canadian Issuer (together with the U.S. Issuer, the "Issuers"), Wells Fargo Securities, LLC, BofA Securities, Inc., BNP Paribas Securities Corp., Deutsche Bank Securities Inc. and MUFG Securities Americas Inc. (collectively, the "Specified Parties"), for the intended purpose of assisting the Specified Parties in evaluating the accuracy of certain information with respect to a pool of equipment lease contracts and equipment loan contracts (collectively, the "Contracts") relating to the Issuers' securitization transaction. This report may not be suitable for any other purpose. The procedure performed may not address all of the items of interest to a user of the report and may not meet the needs of all users of the report and, as such, users are responsible for determining whether the procedure performed is appropriate for their purposes. The appropriateness of this procedure is solely the responsibility of the Specified Parties identified in this report. No other party acknowledged the appropriateness of the procedure. Consequently, we make no representation regarding the appropriateness of the procedure described in Attachment A, either for the purpose for which this report has been requested or for any other purpose.

The procedure performed and our associated findings is included in Attachment A.

------

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| | |
|:---|:---|
| ![LOGO](g28035dsp1a.jpg) | Page 2 of 3 |

---

For the purpose of the procedure described in this report, the Servicer, on behalf of the Issuers, provided us with:

a. An electronic data file labeled "SCFET 2025-2 EY Tape
Final.xlsx" and the corresponding record layout and decode information, as applicable (the "Preliminary Data File"), that the Servicer, on behalf of the Issuers, indicated contains information as
of 30 September 2025 (the "Initial Cut-Off Date") relating to certain equipment lease contracts and equipment loan contracts (collectively, the "Preliminary
Contracts") that are expected to be representative of the Contracts,

b. Imaged copies of the following items (collectively, the "Source Documents"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. The loan and security agreement, promissory note, lease agreement, master lease agreement, specification of
assigned lease receivables, contribution agreement, security agreement, charter agreement, participation agreement, certificate of acceptance, transfer and assumption agreement, payment schedule, lease schedule, equipment schedule, amortization
schedule, schedule A, trade confirmation, amendment(s), addendum(s) or other related documents (as applicable and collectively, the "Contract Agreement"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Certain printed screen shots from the Servicer's servicing system (the "System Screen Shots")
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. An operating lease proforma report (the "Proforma Report")

that the Servicer, on behalf of the Issuers, indicated relate to the Preliminary Contracts,

c. The list of relevant characteristics (the "Compared Characteristics") on the Preliminary Data
File, which is shown on Exhibit 1 to Attachment A, and

d. Instructions, assumptions and methodologies, which are described in Attachment A.

For the purpose of the procedure described in this report, certain information contained on the Preliminary Data File is the "Subject Matter" as of the date of this report.

The procedure included in Attachment A was limited to comparing or recalculating certain information that is further described in Attachment A. The Issuers are responsible for the Subject Matter, Preliminary Data File, Source Documents, Compared Characteristics and the determination of the instructions, assumptions and methodologies that are described herein. We were not requested to perform, and we have not performed, any procedures other than the procedure listed in Attachment A. We have not verified, and we make no representation as to, the accuracy, completeness or reasonableness of the Source Documents or any other information provided to us, or that we were instructed to obtain, as applicable, by the Servicer, on behalf of the Issuers, upon which we relied in forming our findings. Accordingly, we make no representation and express no opinion or conclusion as to (a) the existence of the Preliminary Contracts or Contracts, (b) questions of legal or tax interpretation or (c) the appropriateness, accuracy, completeness or reasonableness of any instructions, assumptions and methodologies provided to us by the Servicer, on behalf of the Issuers, that are described in this report. We undertake no responsibility to update this report for events and circumstances occurring after the date hereof.

------

---

| | |
|:---|:---|
| ![LOGO](g28035dsp1a.jpg) | Page 3 of 3 |

---

This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants (the "AICPA"). An agreed-upon procedures engagement involves the practitioner performing specific procedures that the Specified Parties have agreed to and acknowledged to be appropriate for the purpose of the engagement and reporting on findings based on the procedure performed. We were not engaged to, and did not, conduct an examination to express an opinion or a review to express a conclusion in accordance with attestation standards established by the AICPA on any of the items referred to herein. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.

The agreed-upon procedures described in this report were not performed for the purpose of:

a. Satisfying any criteria for due diligence published by a nationally recognized statistical rating organization
(a "rating agency") or

b. Making any findings with respect to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Whether the origination of the Contracts conformed to, or deviated from, stated underwriting or credit
extension guidelines, standards, criteria or other requirements,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. The value of the collateral securing the Contracts,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Whether the originator(s) of the Contracts complied with federal, state or local laws or regulations or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. Any other factor or characteristic of the Contracts that would be material to the likelihood that the issuers
of the Notes will pay interest and principal in accordance with applicable terms and conditions.

We are required to be independent of the Issuers and to meet our other ethical responsibilities, as applicable, for agreed-upon procedures engagements set forth in the Preface: Applicable to All Members and Part 1 – Members in Public Practice of the Code of Professional Conduct established by the AICPA. Independence requirements for agreed-upon procedures engagements are less restrictive than independence requirements for audit and other attestation services.

This report is intended solely for the information and use of the Specified Parties and is not intended to be, and should not be, used by anyone other than the Specified Parties. It is not intended to be, and should not be, used by any other person or entity, including investors and rating agencies, who are not identified in the report as Specified Parties but who may have access to this report as required by law or regulation.

/s/ Ernst & Young LLP

30 October 2025

------

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| | |
|:---|:---|
| ![LOGO](g28035dsp1a.jpg) | **Attachment A** |

---

**<u>Procedure performed and our associated findings</u>**

For each Preliminary Contract, we compared the Compared Characteristics listed on Exhibit 1 to Attachment A, as shown on the Preliminary Data File, to the corresponding information located in the Source Documents, or to the corresponding information we recalculated using information located in the Source Documents or on the Preliminary Data File, as applicable, subject to the instructions, assumptions and methodologies provided by the Servicer, on behalf of the Issuers, described in the notes to Exhibit 1 to Attachment A. The Source Document(s) that we were instructed by the Servicer, on behalf of the Issuers, to use for each Compared Characteristic are shown on Exhibit 1 to Attachment A. All such compared information was found to be in agreement.

For the purpose of the procedure described in this report, the Preliminary Contracts on the Preliminary Data File are referred to as Contract Numbers 1 through 42.

------

**Exhibit 1 to Attachment A** 

Page 1 of 6

**<u>Compared Characteristics and Source Documents</u>**

---

| | | |
|:---|:---|:---|
| **Compared**<br> **Characteristic** | **Preliminary**<br> **Data File Field Name** | **Source Document(s)** |
| Lease number | Lease Number | Contract Agreement or System Screen Shots |
| Customer name | Customer Name | Contract Agreement |
| Contract type | Contract Type | Contract Agreement |
| Commencement date | Commencement Date | Contract Agreement or System Screen Shots |
| Contract term | Contract Term | Contract Agreement or System Screen Shots |
| Termination date | Termination Date | (a) Contract Agreement or System Screen Shots or<br> (b) Contract Agreement and/or System Screen Shots and recalculation |
| Billing cycle | Billing Cycle | Contract Agreement or System Screen Shots |
| State | State | Contract Agreement or System Screen Shots |
| Balloon amount | Balloon Payment | (a) Contract Agreement and/or System Screen Shots and recalculation or<br> (b) Contract Agreement and recalculation |
| Interest rate | Interest Rate | (a) Contract Agreement or System Screen Shots or<br> (b) System Screen Shots and recalculation |
| Last payment date | LAST_PYMT_DATE | System Screen Shots |
| Residual | Residual | System Screen Shots or Proforma Report |
| Payments remaining | Payments Remaining | (a) System Screen Shots,<br> (b) Proforma Report or<br> (c) Contract Agreement and/or System Screen Shots and recalculation |
| Industry (SIC description) | SIC_DESC | System Screen Shots |
| SIC code | SIC_CODE | System Screen Shots |
| Country | COUNTRY | Contract Agreement or System Screen Shots |

---

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**Exhibit 1 to Attachment A** 

Page 2 of 6

**<u>Notes:</u>**

i. The lease number Compared Characteristic is for identification purposes only.

ii. For the purpose of comparing a Compared Characteristic for any Preliminary Contract for which the Servicer, on
behalf of the Issuers, provided one or more Source Documents, the Servicer, on behalf of the Issuers, indicated the applicable Source Document(s) may contain conflicting information relating to such Compared Characteristic. The Servicer, on behalf
of the Issuers, instructed us to note agreement if the information on the Preliminary Data File agreed with the corresponding information in at least one of the Source Documents listed for such Compared Characteristic. We performed no procedures to
reconcile any differences that may exist between various Source Documents for the indicated Compared Characteristics.

iii. For the purpose of comparing the customer name and industry (SIC description) Compared Characteristics, the
Servicer, on behalf of the Issuers, instructed us to ignore differences that appear to be due to abbreviations, truncations or punctuation.

iv. For the purpose of comparing the contract type Compared Characteristic for each Preliminary Contract with a
contract type of "RA," as shown on the Preliminary Data File (each, a "Revolving Account Contract"), the Servicer, on behalf of the Issuers, instructed us not to compare the contract type Compared Characteristic.

For the purpose of comparing the contract type Compared Characteristic for each remaining Preliminary Contract (each, a "Non-Revolving Account Contract") (except for any Non-Revolving Account Contract with a customer name beginning with "PMC," as shown on the Preliminary Data File (each, a "PMC Contract")), the Servicer, on behalf of the Issuers, instructed us to note agreement if the contract type, as shown on the Preliminary Data File, agreed with the corresponding contract type, as shown in the Contract Agreement, in accordance with the decode table shown below:

---

| | |
|:---|:---|
| **Preliminary Data File Value** | **Source Document Value** |
|  CS | Loan |
|  LP | Lease |
|  TL | Lease |
|  XX | Lease |

---

For each PMC Contract, the Servicer, on behalf of the Issuers, instructed us not to compare the contract type Compared Characteristic.

------

**Exhibit 1 to Attachment A** 

Page 3 of 6

v. For the purpose of comparing the commencement date Compared Characteristic for each Non-Revolving Account Contract, the Servicer, on behalf of the Issuers, instructed us to use the Contract Agreement or System Screen Shots as the Source Document, subject to the additional instruction(s) described
in the succeeding paragraph(s) of this note.

For the purpose of comparing the commencement date Compared Characteristic for each Revolving Account Contract, the Servicer, on behalf of the Issuers, instructed us to use the 1<sup>st</sup> interest date or commencement date, as shown in the System Screen Shots, subject to the additional instruction(s) described in the succeeding paragraph(s) of this note.

For the purpose of comparing the commencement date Compared Characteristic for each Preliminary Contract, the Servicer, on behalf of the Issuers, instructed us to ignore differences of +/- 2 days or less.

vi. For each Revolving Account Contract, the Servicer, on behalf of the Issuers, instructed us not to compare the
contract term Compared Characteristic.

For the purpose of comparing the contract term Compared Characteristic for each Non-Revolving Account Contract, the Servicer, on behalf of the Issuers, instructed us to ignore any renewal term, if applicable, as shown on the Contract Agreement or System Screen Shots.

vii. For each Preliminary Contract with a:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Last payment date of "First Pymt Default," as shown in the System Screen Shots,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Last payment date, as shown in the System Screen Shots, occurring after the applicable Initial Cut-Off Date or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Commencement date, as shown on the Preliminary Data File, occurring after the applicable Initial Cut-Off Date,

the Servicer, on behalf of the Issuers, instructed us not to compare the contract term and last payment date Compared Characteristics.

------

**Exhibit 1 to Attachment A** 

Page 4 of 6

viii. For each Revolving Account Contract, the Servicer, on behalf of the Issuers, instructed us not to compare the
termination date Compared Characteristic.

For the purpose of comparing the termination date Compared Characteristic for each Non-Revolving Account Contract (except for any Non-Revolving Account Contract described in the succeeding paragraph(s) of this note), the Servicer, on behalf of the Issuers, instructed us to note agreement if the month and year of the termination date, as shown on the Preliminary Data File, agreed with the month and year of the termination date, as shown in the Contract Agreement or System Screen Shots.

For the purpose of comparing the termination date Compared Characteristic for each Non-Revolving Account Contract:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. That does not have the termination date specifically stated in the Contract Agreement or System Screen Shots or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. For which the termination date, as shown on the Contract Agreement or System Screen Shots, does not agree with
the termination date, as shown on the Preliminary Data File, the Servicer, on behalf of the Issuers, instructed us to recalculate the termination date by adding:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. The number of months represented by the sum of (1) the contract term, as shown in the Contract Agreement
or System Screen Shots, and (2) any renewal term (if applicable), as shown in the Contract Agreement or System Screen Shots, to

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. The commencement date, as shown in the Contract Agreement or System Screen Shots.

ix. For the purpose of comparing the billing cycle Compared Characteristic for each Preliminary Contract for which
the billing cycle, as shown in the Contract Agreement or System Screen Shots, does not agree with the billing cycle, as shown on the Preliminary Data File, the Servicer, on behalf of the Issuers, instructed us to note agreement with a billing cycle
of "Monthly," as shown on the Preliminary Data File, if there is more than one billing cycle, as shown in the Contract Agreement or System Screen Shots.

x. For any Preliminary Contract with a country other than "USA" or "Canada," as shown
in the Contract Agreement or System Screen Shots, the Servicer, on behalf of the Issuers, instructed us not to compare the state Compared Characteristic.

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**Exhibit 1 to Attachment A** 

Page 5 of 6

xi. For each (a) Revolving Account Contract and (b) Non-Revolving Account Contract that is not a Residual Contract or Balloon Contract (both as defined herein), the Servicer, on behalf of the Issuers, instructed us not to compare the balloon amount Compared Characteristic.

For each Non-Revolving Account Contract with a residual value that is (a) greater than 0.00 and (b) not , as shown on the Preliminary Data File (each, a "Residual Contract"), the Servicer, on behalf of the Issuers, instructed us not to compare the balloon amount Compared Characteristic.

For the purpose of comparing the balloon amount Compared Characteristic for each Non-Revolving Account Contract with a balloon amount value that is (a) greater than 0.00 and (b) not , as shown on the Preliminary Data File (each, a "Balloon Contract") (except for any Balloon Contract with a customer name of "Grandview Aviation LLC," as shown on the Preliminary Data File (each, a "Grandview Aviation Contract")), that has a balloon amount due in the same month and year as the month and year the final interest payment and final principal payment are due, all as shown in the Contract Agreement, the Servicer, on behalf of the Issuers, instructed us to recalculate the balloon amount as the sum of the principal payment amount, interest payment amount and balloon amount, all as shown in the Contract Agreement or System Screen Shots, subject to the additional instruction(s) described in the succeeding paragraph(s) of this note.

For the purpose of comparing the balloon amount for each Balloon Contract (except for any Grandview Aviation Contract and Contract Number 35) that does not have a balloon amount specifically stated in the Contract Agreement or System Screen Shots, the Servicer, on behalf of the Issuers, instructed us to recalculate the balloon amount by multiplying the equipment cost by purchase percentage, both as shown in the Contract Agreement, subject to the additional instruction(s) described in the succeeding paragraph(s) of this note.

For the purpose of comparing the balloon amount Compared Characteristic for any Grandview Aviation Contract, the Servicer, on behalf of the Issuers, instructed us to recalculate the balloon amount as the product of the aircraft cost and end of term purchase percentage, both as shown in the Contract Agreement, subject to the additional instruction(s) described in the succeeding paragraph(s) of this note.

For the purpose of comparing the balloon amount Compared Characteristic for Contract Number 35, the Servicer, on behalf of the Issuers, instructed us to recalculate the balloon amount as 70% of the USD amount corresponding to a value date of July 2030, as shown in the Contract Agreement.

For the purpose of comparing the balloon amount Compared Characteristic, the Servicer, on behalf of the Issuers, instructed us to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Deduct any overage charges from the corresponding balloon amount, both as shown in the Contract Agreement or
System Screen Shots, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Ignore differences of +/- 5% or less (calculated as a percentage of the balloon amount, as shown on the
Preliminary Data File).

xii. For the purpose of comparing the interest rate Compared Characteristic for each Preliminary Contract for which
the interest rate, as shown in the Contract Agreement or System Screen Shots, subject to the additional instruction(s) described in the succeeding paragraph(s) of this note, does not agree with the interest rate, as shown on the Preliminary Data
File, the Servicer, on behalf of the Issuers, instructed us to recalculate the interest rate as the sum of the interest rate and blended yield, both as shown in the System Screen Shots.

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**Exhibit 1 to Attachment A** 

Page 6 of 6

For the purpose of comparing the interest rate Compared Characteristic, the Servicer, on behalf of the Issuers, instructed us to ignore differences of +/- 0.01 or less.

xiii. For the purpose of comparing the last payment date Compared Characteristic for each Preliminary Contract, the
Servicer, on behalf of the Issuers, instructed us to only consider account activity shown in the System Screen Shots which occurred on or prior to the applicable Initial Cut-Off Date.

xiv. For each Revolving Account Contract and Balloon Contract, the Servicer, on behalf of the Issuers, instructed us
not to compare the residual Compared Characteristic.

For the purpose of comparing the residual Compared Characteristic for each Non-Revolving Account Contract that is not a Balloon Contract or Residual Contract, the Servicer, on behalf of the Issuers, instructed us to note agreement with a residual value of 0.00, as shown on the Preliminary Data File, if the corresponding residual value is , as shown in the System Screen Shots, subject to the additional instruction(s) described in the succeeding paragraph(s) of this note.

For the purpose of comparing the residual Compared Characteristic for each Residual Contract (except for any Preliminary Contract with a lease number beginning with the digits "502" or "506," as shown on the Preliminary Data File (each, a "Rail Account Contract")), the Servicer, on behalf of the Issuers, instructed us to ignore differences of +/- $1.00 or less.

For the purpose of comparing the residual Compared Characteristic for each Rail Account Contract, the Servicer, on behalf of the Issuers, instructed us to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Use the depreciation adjusted basis, as shown in the Proforma Report, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Ignore differences of +/- 0.5% or less (calculated as a percentage
of the residual, as shown on the Preliminary Data File).

xv. For each Revolving Account Contract, the Servicer, on behalf of the Issuers, instructed us not to compare the
payments remaining Compared Characteristic.

For the purpose of comparing the payments remaining Compared Characteristic for each Non-Revolving Account Contract for which the payments remaining, as shown in the System Screen Shots or Proforma Report, does not agree with the payments remaining, as shown on the Preliminary Data File, the Servicer, on behalf of the Issuers, instructed us to recalculate the payments remaining as the difference between the contract term, as shown in the Contract Agreement or System Screen Shots, and payments made, as shown in the System Screen Shots.

xvi. For the purpose of comparing the SIC code Compared Characteristic for each Preliminary Contract, the Servicer,
on behalf of the Issuers, instructed us to ignore any leading zeroes in the SIC code, as shown in the System Screen Shots.

We performed no procedures to determine the accuracy, completeness or reasonableness of the instructions, assumptions and methodologies provided by the Servicer, on behalf of the Issuers, that are described in the notes above.