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Exhibit 10.43    
  

 
 

OVERALL AGREEMENT    
    
    BETWEEN SAMSONITE CORPORATION AND KARLHEINZ TRETTER    
    
    AMENDMENT #1    
  

        Effective February 1, 2001, for good and valuable consideration, the receipt and sufficiency of which are acknowledged, the undersigned parties hereby
amend that particular Overall Agreement dated February 1, 1998, by and between Samsonite Corporation and Karlheinz Tretter, as follows: 

	1.
	The
text of Section 1, Term, is deleted in its entirety and is replaced with the following: 

"This
Overall Agreement shall have a term (the "Term") beginning on the Effective Date and expiring on March 31, 2003 ("Expiration Date")." 

	2.
	In
Section 3, Compensation and Related Matters, the text of the last sentence in Subsection 3(a) is deleted in its entirety and
is replaced with the following: 

"Such
compensation (the "Base Compensation") shall be Euros 365,000 gross per annum, allocated in the same proportions as in Section 2.(c)." 

	3.
	In
Section 3, the complete item (b) Annual Adjustment is deleted in its entirety and is replaced with the following: 

Management Incentive Bonus. The Executive shall be eligible to receive an annual incentive bonus (the "Incentive Bonus") in respect of each fiscal year
of the Company that ends during the Term, starting with the fiscal year ending January 31, 2002. The Incentive Bonus in respect of each fiscal year that ends during the Term (each, a "Reference
Year") shall be calculated on the terms hereafter set forth in this Section 4 (d): 

"Bonus
Potential": This is the % of A.B.S. the Executive can get as an Incentive Bonus, based on achievements of EBITDA and Personal Objectives versus pre-set targets. 75% of the Bonus
Potential is attributed to EBITDA achievements (TARGET bonus) and 25% of this potential is attributed to achievement of personal objectives (PROJECT Bonus). 

"Kick-off
point": no Incentive Bonus can be earned if achievements are below 90% of the Original Business Plan (or amendments of same by the Board as explained below). At
"kick-off" point a bonus is earned of 12.5% of 75% of the A.B.S. (for EBITDA achievements) and 12.5% of 25% of the A.B.S. (for achievement of Personal Objectives). 

"Target
point": if 100% of the Original Business (or amendments of same by the Board as explained below) is achieved, then a bonus is earned of 50% of 75% of the A.B.S. (for EBITDA achievements) and
50% of 25% of the A.B.S. (for achievement of Personal Objectives). 

"Cap
point": if 120% of the Original Business Plan (or amendments of same by the Board) is achieved, then a bonus is earned of 75% of 75% of the A.B.S. (for EBITDA achievements) and 75% of 25% of the
A.B.S. (for achievement of Personal Objectives). For specific achievements between "kick-off" and "cap point", the corresponding bonus earning percentages will be extrapolated as shown on
the sample chart in exhibit. 

EBITDA
Targets and Personal Objectives will be set as follows: With respect to each Reference Year ending after January 31, 2001, on or before March 15 of each such year, the Board, in
consultation with the C.O.O. and the C.E.O., shall determine the "Annual EBITDA Target", the "Minimum EBITDA Target" and the "Maximum EBITDA Target" for the Reference Year then current.

 

Promptly
after such targets have been determined, the Company shall provide written notice thereof to the Executive. The Annual EBITDA Targets determined by the Board shall be reasonably achievable in
the good faith judgment of the Board, it being understood that the Maximum EBITDA Targets determined by the Board shall generally reflect a more aggressive, "stretch" budget, and the Minimum EBITDA
Targets determined by the Board shall generally reflect an improvement over actual EBITDA for the prior Reference Year. The Board shall have the right, acting unilaterally and in good faith, to adjust
the Annual EBITDA Target, the Minimum EBITDA Target and the Maximum EBITDA Target upon the occurrence of any acquisition, disposition or other significant event that occurs after such targets have
been determined. For purposes of this Section 4 (d), "EBITDA" shall mean, for any period, the Company's consolidated earnings (excluding extraordinary gains and losses and gains or losses from
the sale of fixed assets outside of the ordinary course of business) from continuing operations before interest and taxes for such periods but after depreciation and EBITDA shall be determined on the
same basis of the Annual EBITDA Target, the Minimum EBITDA Target and the Maximum EBITDA Target. 

Notwithstanding
the foregoing, EBITDA for any reference year shall be equitably adjusted by the Board (solely for the purposes of Section 4 (d) (i) to the extent that the Company's
business was not conducted in the ordinary course in accordance with past practices. 

The
"Project Bonus" shall be payable to the Executive to the extent that the Board determines that the Executive has satisfactorily completed certain projects (the "Annual Projects" or "Personal
Objectives") established by the Board with respect to the Reference Year in accordance with this subparagraph. The Company shall establish Annual Projects for each fiscal year during the Term and
shall provide the Executive with a written notice of such Annual Projects, which shall describe such Annual Projects in reasonable detail. The Annual Project of each Reference Year ending after
January 31, 2001 shall be established on or before March 15 of such year. The Annual Projects for each such fiscal year shall be developed by the Board in consultation with the
Executive, and shall, in the good faith judgment of the Board, be reasonable achievable. The Executive acknowledges that the Annual Projects established by the Board may not be measured by financial
results or other quantifiable standards and may depend on subjective judgments by the Board, and the Executive agrees that the determination of the Board as to the extent to which such Annual Projects
have been satisfactorily completed shall be conclusive for all purposes, provided that such determination shall be made in good faith. 

Each
Incentive Bonus (including the Target Bonus and the Project Bonus) shall be paid not more than 30 days after a determination by the Board that an applicable performance goals have been
met, and such determination shall be made not later than 10 days following the filing of a Form 10-K for the Company, of if the Company is not required to file a
Form 10-K, not later than 10 days following the date upon which the Company's audited financial statements first become available. 

	3.
	To
correct clerical errors, the cross-reference in Section 5(d) to "Article 12.4 of the German Contract" is corrected to read "Article 12(h)(ii) of the
German Contract", and the reference in Section 5(e) to "Article 12.6.1(a) of the German Contract" is corrected to read "Article 12(h) of the German Contract." 

 

	4.
	In
section 5 (e) the amounts have been changed to now read as follows: 

The
Overall Indemnity referred to above in Article 12.6.1 (a) of the German Contract shall be equal to the lesser of: 

	(i)
	the
excess of 500,000 EURO over the amount payable by Samsonite GmbH under article 13 of the German Contract.

	(ii)
	the
excess of the amount of the Executive's Base Compensation which would have been paid to the Executive pursuant to this Overall Agreement from the
date of termination of the German Contract through the Expiration Date, over the amount payable by Samsonite GmbH under article 13 of the German Contract. 

	5.
	Since
the Company is, by virtue of this Amendment #1, extending the Term of the Overall Agreement upon the same or substantially similar terms and conditions for a period of greater
than one year beyond the original Expiration Date, Section 5(f) is no longer applicable and is deleted in its entirety to be replaced by the words: "Intentionally Left Blank." 

        IN
WITNESS WHEREOF, the parties hereto have executed this Amendment #1 as of the date first above written. 

[Signature
page to Amendment #1 to Executive Management Agreement between Samsonite Corporation and Karlheinz Tretter dated February 1, 1998.] 

	SAMSONITE CORPORATION	 	KARLHEINZ TRETTER
	

Signature:	
 	

/s/  LUC VAN NEVEL      
	
 	

Signature:	
 	

/s/  KARLHEINZ TRETTER      

	Print Name:	 	Luc Van Nevel
	 	 	 	 
	

Title:	
 	

C.E.O
	
 	

 	
 	

 

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Exhibit 10.43

OVERALL AGREEMENT BETWEEN SAMSONITE CORPORATION AND KARLHEINZ TRETTER AMENDMENT #1QuickLinks
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April 15, 2002
  DART 2000-1 DISTRIBUTION SUMMARY    
  

 
  Collection Account    
  

	Wire/Deposit to:
 
	 	In consideration of:
 
	 	In the amount of:

	1.	 	Premier Auto Finance, Inc.	 	Reimburse Previous Advances	 	31,683.71
	 	 	 	 	Excess Coverage	 	0.00
	

2.	
 	

Bank of New York	
 	

Indenture Trustee Fee	
 	

0.00
	

3.	
 	

Chase	
 	

Owner Trustee Fee	
 	

0.00
	

4.	
 	

Premier Auto Finance, Inc.	
 	

Servicing Fees	
 	

239,983.85
	 	 	 	 	Late Fees	 	21,821.29
	 	 	 	 	 	 	

	 	 	 	 	Total Servicing Fees	 	261,805.14
	

5.	
 	

Note Distribution Account	
 	

Note Interest	
 	

1,630,481.17
	

6.	
 	

Certificate Distribution Account	
 	

Certificate Interest	
 	

87,068.70
	

7.	
 	

Note Distribution Account	
 	

Principal Payable	
 	

18,668,497.85
	

8.	
 	

Certificate Distribution Account	
 	

Principal Payable	
 	

0.00
	

9.	
 	

Reserve Fund	
 	

Funding	
 	

251,587.81
	 	 	 	 	 	 	

	
TOTAL AMOUNT WIRED/DEPOSITED:	
 	

20,931,124.38
	 	 	 	 	 	 	

 
 

Reserve Account    
  

	Wire/Deposit to:
 
	 	In consideration of:
 
	 	In the amount of:

	1.	 	Collection Account	 	Collection Shortfall	 	0.00
	

2.	
 	

Premier Auto Finance, Inc.	
 	

Excess Reserve Release	
 	

1,476,355.21
	 	 	 	 	 	 	

	
TOTAL AMOUNT WIRED/DEPOSITED:	
 	

1,476,355.21
	 	 	 	 	 	 	

	

/s/  RANDALL S. ROYER      
 Randall S. Royer
 VP—Assistant Treasurer	
 	

 	
 	

 
	

/s/  DAVID C. GREENBERG      
 David C. Greenberg
 CEO	

 	

April 10, 2002

9:48 AM

4

 
 
 

Dealer Auto Receivables Owner Trust 2000-1    
  

	190,000,000.00	 	6.69% Dealer Auto Receivables Asset-Backed Notes, Class A-1
	274,000,000.00	 	7.01% Dealer Auto Receivables Asset-Backed Notes, Class A-2
	168,000,000.00	 	7.07% Dealer Auto Receivables Asset-Backed Notes, Class A-3
	83,251,000.00	 	7.12% Dealer Auto Receivables Asset-Backed Notes, Class A-4
	24,470,000.00	 	7.46% Dealer Auto Receivables Asset-Backed Notes, Class B
	13,175,591.56	 	7.93% Dealer Auto Receivables Asset- Backed Certificates

 
 

Monthly Report
  For the April 15, 2002 Distribution Date    
  

	A	 	Calculation of Available Amounts	 	 	 	 
	 	 	1	 	Available Principal (as defined in Article I of the Sale and Servicing Agreement)	 	$	17,975,951.32	 
	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	Available Interest (as defined in Article I of the Sale and Servicing Agreement)	 	$	2,933,351.77	 
	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	Available Amounts (l. plus 2.)	 	$	20,909,303.09	 
	 	 	 	 	 	 	 	 	
	 
	
B	
 	

Calculation of Principal Distributable Amount

(as defined in Article I of the Sale and Servicing Agreement)	
 	
$	

18,668,497.85	
 
	 	 	 	 	 	 	 	 	
	 
	
C	
 	

Calculation of Note Monthly Principal Distributable Amount	
 	
$	

18,668,497.85	
 
	 	 	 	 	 	 	 	 	
	 
	 	 	1	 	Note Percentage for such Distribution Date	 	 	 	 
	 	 	 	 	(a)	 	for each Distribution Date to but excluding the Distribution Date on which the principal amount of the Class B Notes is reduced to zero	 	 	100.00	%
	 	 	 	 	 	 	 	 	
	 
	 	 	 	 	(b)	 	after the principal amount of the Class B Notes have been reduced to zero	 	 	0.00	%
	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	Principal Distributable Amount (from B)	 	$	18,668,497.85	 
	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	Note Monthly Principal Distributable Amount for	 	 	 	 
	 	 	 	 	(a)	 	Class A-1 Notes	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	 	 	(b)	 	Class A-2 Notes	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	 	 	(c)	 	Class A-3 Notes	 	$	18,668,497.85	 
	 	 	 	 	 	 	 	 	
	 
	 	 	 	 	(d)	 	Class A-4 Notes	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	 	 	(e)	 	Class B Notes	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	 	 	(f)	 	Note Principal Carryover Shortfall	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	
D	
 	

Calculation of Note Monthly Interest Distributable Amount	
 	
 	

 	
 
	 	 	1	 	Class A-1 Interest Rate	 	 	6.69	%
	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	Class A-2 Interest Rate	 	 	7.01	%
	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	Class A-3 Interest Rate	 	 	7.07	%
	 	 	 	 	 	 	 	 	
	 
	 	 	4	 	Class A-4 Interest Rate	 	 	7.12	%
	 	 	 	 	 	 	 	 	
	 
	 	 	5	 	Class B Interest Rate	 	 	7.46	%
	 	 	 	 	 	 	 	 	
	 
	 	 	6	 	Class A-1 Note Interest Distributable Amount	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	7	 	Class A-2 Note Interest Distributable Amount	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	8	 	Class A-3 Note Interest Distributable Amount	 	$	984,403.41	 
	 	 	 	 	 	 	 	 	
	 
	 	 	9	 	Class A-4 Note Interest Distributable Amount	 	$	493,955.93	 
	 	 	 	 	 	 	 	 	
	 
	 	 	10	 	Class B Note Interest Distributable Amount	 	$	152,121.83	 
	 	 	 	 	 	 	 	 	
	 
	 	 	11	 	Aggregate Interest Carryover Shortfall for each Class for such Distribution Date	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	12	 	Note Monthly Interest Distributable Amount (the sum of items D.6, D.7, D.8, D.9, D.10 and D.11)	 	$	1,630,481.17	 
	 	 	 	 	 	 	 	 	
	 

5

 

	
E	
 	

Calculation of Note Distributable Amount (sum of C.3 plus D.12.)	
 	
$	

20,298,979.02	
 
	 	 	 	 	 	 	 	 	
	 
	
F	
 	

Calculation of Certificate Principal Distributable Amount	
 	
 	

 	
 
	 	 	1	 	Certificate Balance	 	$	13,175,591.56	 
	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	Principal Distributable Amount	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	Certificate Percentage for each respective Distribution Date	 	 	 	 
	

 	
 	

3	
 	

(a)	
 	

for each Distribution Date to but excluding the Distribution Date on which the Principal Amount of the Class B Notes is reduced to zero	
 	
 	

0.00	
%
	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	(b)	 	on the Distribution Date on which the Principal Amount of the Class B Notes is reduced to zero	 	 	 	 
	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	(c)	 	thereafter	 	 	100.00	%
	 	 	 	 	 	 	 	 	
	 
	 	 	4	 	(a)	 	Principal Distributable Amount multiplied by the Certificate Percentage for such Distribution Date	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	4	 	(b)	 	Certificate Principal Carryover Shortfall for such Distribution Date	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	5	 	Certificate Principal Distributable Amount (the sum of 4.(a) and 4.(b))	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	
G	
 	

Calculation of Certificate Interest Distributable Amount	
 	
 	

 	
 
	 	 	1	 	Certificate Pass-Through Rate	 	 	7.93	%
	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	(a)	 	Certificate Monthly Interest Distributable Amount	 	$	87,068.70	 
	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	(b)	 	Certificate Interest Carryover Shortfall for such Distribution Date	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	Certificate Interest Distributable Amount (sum of 2.(a) and 2.(b))	 	$	87,068.70	 
	 	 	 	 	 	 	 	 	
	 
	
H	
 	

Calculation of Certificate Distributable Amount (sum of F.5 and G.3)	
 	
$	

87,068.70	
 
	 	 	 	 	 	 	 	 	
	 
	
I	
 	

Fees	
 	
 	

 	
 
	 	 	1	 	The Monthly Servicing Fee for such Distribution Date

(1/12 of the product of 1% and the Aggregate Principal Balance of the Contracts as of the beginning of the preceding Distribution Date)	 	$	239,983.85	 
	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	Late Payment Penalty Fees for such Distribution Date	 	$	21,821.29	 
	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	Extension Fees for such Distribution Date	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	4	 	Indenture Trustee Fee for such Distribution Date	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	5	 	Owner Trustee Fee for such Distribution Date	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 

6

 

	
J	
 	

Calculation of the Available Amounts for such Distribution Date	
 	
 	

 	
 
	 	 	1	 	The amount of funds deposited into the Collection Account pursuant to Section 5.05(b) of the Sale and Servicing Agreement with respect to the related Due Period	 	 	20,931,124.38	 
	 	 	 	 	 	 	 	 	
	 
	 	 	a	 	All amounts received by the Indenture Trustee or the Servicer with respect to principal and interest on the Contracts, as well as Late Payment Penalty Fees and Extensions Fees for related Due Period	 	$	19,939,526.79	 
	 	 	 	 	 	 	 	 	
	 
	 	 	b	 	All Net Liquidation Proceeds	 	$	980,845.57	 
	 	 	 	 	 	 	 	 	
	 
	 	 	c	 	The aggregate of the Repurchase Prices for Contracts required to be repurchased by the Depositor as described in Section 7.05 of the Sale and Servicing Agreement	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	d	 	All Advances made by Servicer pursuant to Section 7.02 of the Sale and Servicing Agreement	 	 	—	 
	 	 	 	 	 	 	 	 	
	 
	 	 	e	 	All amounts paid by the Seller in connection with an optional repurchase of the Contracts described in Section 7.07 of the Sale and Servicing Agreement	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	f	 	All amounts received in respect of interest, dividends, gains, income and earnings on investments of funds in the Trust Accounts as contemplated in Section 5.05(b) of the Sale and Servicing Agreement	 	 	10,752.02	 
	 	 	 	 	 	 	 	 	
	 
	 	 	g	 	Total amount of funds deposited into the Collection Account pursuant to Section 5.05(b) (the sum of a. through f.)	 	$	20,931,124.38	 
	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	The amount of funds permitted to be withdrawn from the Collection Account pursuant to clauses (i) through (iii) of Section 7.03(a) of the Sale and Servicing Agreement with respect to related Due
Period	 	$	293,488.85	 
	 	 	 	 	 	 	 	 	
	 
	 	 	a	 	Amounts to be paid to the Servicer as the Reimbursement Amount in accordance with Section 7.02 of the Sale and Servicing Agreement	 	 	31,683.71	 
	 	 	 	 	 	 	 	 	
	 
	 	 	b	 	Amounts to be paid to the Servicer in respect to the Servicing Fee for the related Due Period	 	$	261,805.14	 
	 	 	 	 	 	 	 	 	
	 
	 	 	c	 	Amounts to be paid to the Indenture Trustee in respect of the Indenture Trustee Fee for the related Due Period	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	d	 	Amounts to be paid to the Owner Trustee in respect of Owner Trustee Fee for related Due Period	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	e	 	Total amount of funds permitted to be withdrawn from the Collection Account pursuant to clauses (i) through (iii) Section 7.03(a) of the Sale and Servicing Agreement with respect to the related Due Period
(sum of a. through d.)	 	$	293,488.85	 
	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	The Available Amounts (not including amounts from Reserve Fund Account) for such Distribution Date available to pay Note Distributable Amounts and Certificate Distributable Amounts (1(g) minus 2(e))	 	$	20,637,635.53	 
	 	 	 	 	 	 	 	 	
	 
	
K	
 	

The shortfall of Available Amounts for such Distribution Date to pay either the Note Distributable Amount or the Certificate Distributable Amount	
 	
$	

0.00	
 
	(the Available Amounts for such Distribution Date minus the sum of the Note Distributable Amount as set forth in E. and the Certificate Distributable Amount as set forth in H.)	 	
	 
	
L	
 	

The amount to be withdrawn from the Reserve Fund on such Distribution Date to cover the Note Interest Distributable Amount	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 

7

 

	
M	
 	

The amount to be withdrawn from the Reserve Fund on such Distribution Date to cover the Certificate Interest Distributable Amount	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	
N	
 	

The amount to be withdrawn from the Reserve Fund on such Distribution Date to cover the Note Principal Distributable Amount	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	
O	
 	

The amount to be withdrawn from the Reserve Fund on such Distribution Date to cover the Certificate Principal Distributable Amount	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	
P	
 	

Interest Earnings on the Reserve Fund.	
 	
$	

11,315.04	
 
	 	 	 	 	 	 	 	 	
	 
	
Q	
 	

The amount on deposit in the Reserve Fund after giving effect to deposits and withdrawals therefrom on such Distribution Date	
 	
 	

17,505,288.01	
 
	 	 	 	 	 	 	 	 	
	 
	
R	
 	

The Specified Reserve Fund Amount for such Distribution Date will be an amount equal to the lesser of (i) the aggregate unpaid principal balance of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B
Notes and the Certificate Balance as of such Distribution Date, and (ii) the greater of:	
 	
 	

 	
 
	 	 	(a)	 	4.25% of the aggregate unpaid principal balance of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes and the Certificate Balance on such Distribution Date, except that
if a Reserve Fund Trigger Event shall have occurred and be continuing on such Distribution Date, then the percentage of the aggregate unpaid principal balance of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and
the Class B Notes and the Certificate Balance referred to in this clause (a), shall be equal to 6.50%; and	 	 	 	 
	

 	
 	

(b)	
 	

1.00% of the Aggregate Principal Balance as of the Cutoff Date.	
 	
 	

17,505,288.01	
 
	 	 	 	 	 	 	 	 	
	 
	
S	
 	

The Pool Factor

	
 	
 	

 	
 

	 	 	Factor immediately Before

such Distribution Date	 	Factor immediately After

such Distribution Date
	Class A-1 Note	 	1	 	0.0000000	 	7	 	0.0000000
	 	 	 	 	
	 	 	 	

	Class A-2 Note	 	2	 	0.0000000	 	8	 	0.0000000
	 	 	 	 	
	 	 	 	

	Class A-3 Note	 	3	 	0.9945478	 	9	 	0.8834258
	 	 	 	 	
	 	 	 	

	Class A-4 Note	 	4	 	1.0000000	 	10	 	1.0000000
	 	 	 	 	
	 	 	 	

	Class B Note	 	5	 	1.0000000	 	11	 	1.0000000
	 	 	 	 	
	 	 	 	

	Certificate	 	6	 	1.0000000	 	12	 	1.0000000
	 	 	 	 	
	 	 	 	

	
T	
 	

Delinquent Contracts	
 	

 	
 	
 	

 	
 
	 	 	1	 	31-60 Days	 	818	 	$	7,360,894.40	 
	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	61-90 Days	 	176	 	$	1,536,951.56	 
	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	91 or More Days	 	95	 	$	971,518.32	 
	 	 	 	 	 	 	 	 	
	 
	 	 	 	 	 	 	Total Delinquent Receivables	 	1,089	 	$	9,869,364.28	 
	 	 	 	 	 	 	61+ Days Delinquencies as Percentage of Receivables	 	 	 	 	0.93	%
	 	 	 	 	 	 	Delinquency Ratio for Second Preceding Collection Period	 	 	 	 	1.37	%
	 	 	 	 	 	 	Delinquency Ratio for Preceding Collection Period	 	 	 	 	1.09	%
	 	 	 	 	 	 	Delinquency Ratio for Current Collection Period	 	 	 	 	0.93	%
	 	 	 	 	 	 	Average Delinquency Ratio            (Reserve Fund Trigger Event >= 2.0%)	 	 	1.13	%

8

 

	
U	
 	

Defaulted Contracts	
 	

 	
 	
 	

 	
 
	 	 	1	 	Total Defaulted Contracts for the Due Period	 	181	 	 	1,571,597.69	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	Identity (attach)	 	 	 	 	 	 
	 	 	3	 	Liquidation proceeds for the Due Period	 	 	 	$	1,034,793.07	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	4	 	Liquidation expenses for the Due Period	 	 	 	 	53,947.50	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	5	 	Net Liquidation Proceeds for the Due Period	 	 	 	$	980,845.57	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	6	 	Net Liquidation Losses for the Due Period	 	 	 	$	590,752.12	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	 	 	 	 	Pool Balance at Beginning of Collection Period	 	 	 	$	287,980,621.06	 
	 	 	 	 	 	 	Net Loss Ratio for Current Collection Period	 	 	 	 	2.46	%
	 	 	 	 	 	 	Net Loss Ratio for Second Preceding Collection Period	 	 	 	 	4.00	%
	 	 	 	 	 	 	Net Loss Ratio for Preceding Collection Period	 	 	 	 	1.71	%
	 	 	 	 	 	 	Net Loss Ratio for Current Collection Period	 	 	 	 	2.46	%
	 	 	 	 	 	 	Average Net Loss Ratio            (Reserve Fund Trigger Event >= 2.5%)	 	 	 	 	2.72	%
	
V	
 	

Advances	
 	

 	
 	
 	

 	
 
	 	 	1	 	Unreimbursed Advances prior to such Distribution Date	 	 	 	$	151,177.16	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	Amount paid to Servicer on such Distribution Date to reimburse Servicer for such unreimbursed Advances	 	 	 	 	114,528.55	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	Amount of Delinquent Interest for the related Due Period	 	 	 	 	82,844.84	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	4	 	Amount of new Advances on such Distribution Date (if such amount is less than the amount of Delinquent Interest, attach the certificate required by Section 7.02 of the Sale and Servicing Agreement)	 	 	 	 	(31,683.71	)
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	5	 	Total of unreimbursed Advances after new Advances on such Distribution Date	 	 	 	$	119,493.45	 
	 	 	 	 	 	 	 	 	 	 	
	 
	
W	
 	

Repurchased Contracts	
 	

 	
 	
 	

 	
 
	 	 	1	 	Number of Contracts to be repurchased pursuant to Section 7.07 of the Sale and Servicing Agreement	 	 	 	 	0	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	Principal Amount of such Contracts	 	 	 	$	0.00	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	Related Repurchase Price of such Contracts	 	 	 	$	0.00	 
	 	 	 	 	 	 	 	 	 	 	
	 
	
X	
 	

Contracts	
 	

 	
 	
 	

 	
 
	 	 	1	 	Number of Contracts as of beginning of Due Period	 	 	 	 	34,818	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	Principal Balance of Contracts as of beginning of Due Period	 	 	 	$	287,980,621.06	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	The weighted average Contract Rate of the Contracts as of the beginning of the Due Period	 	 	 	 	11.67	%
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	4	 	The weighted average remaining term to maturity of the Contracts as of the beginning of the Due Period	 	 	 	 	32.01	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	5	 	Number of Contracts as of end of Due Period	 	 	 	 	33,414	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	6	 	Principal Balance of Contracts as of end of Due Period	 	 	 	$	269,312,123.21	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	7	 	The weighted average Contract Rate of the Contracts as of the end of the Due Period	 	 	 	 	11.69	%
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	8	 	The weighted average remaining term to maturity of the Contracts as of the end of the Due Period	 	 	 	 	31.28	 
	 	 	 	 	 	 	 	 	 	 	
	 

9

 
Net Loss Addendum  

	For the Period Ending March 30, 2002

Servicing Report Dated April 15, 2002
 
	 	Reported

8K
	 	Actual*

Loss

	Net Loss Ratio for Current Month	 	2.46%	 	3.75%
	Net Loss Ratio for Previous Month	 	1.71%	 	3.45%
	Net Loss Ratio for 2nd Previous Month	 	4.00%	 	3.64%
	Net Loss Ratio Three Month Average	 	2.72%	 	3.61%

 Section "U" of Servicer Certificate  

        The difference between the Reported 8K and Actual Loss column is driven by the difference in the definition of a Defaulted Contract between the DART
2000-1 Servicing Agreement and the servicer's normal procedures as described in the Prospectus. Generally the servicer charges-off a contract: 

	1)
	when
the servicer deems the contract uncollectible;

	2)
	if
the financed vehicle is not repossessed, during the month when 5% or more of an installment due under the contract becomes more than 120 days past due;

	3)
	if
the financed vehicle is repossessed, when all sale proceeds, insurance claims and refunds of financed insurance policies and extended warranties have been received; or

	4)
	when
an obligor files for bankruptcy and the servicer determines that its loss is known. 

        The
definition of a Defaulted Contract in the DART 2000-1 Sale And Servicing Agreement states: 

        "Defaulted Contract" means a Contract with respect to which there has occurred one or more of the following: (i) all or part of a
scheduled payment under the Contract is 120 days or more than 120 days past due and the Servicer has not repossessed the related Financed Vehicle, (ii) the Servicer, has in
accordance with its customary servicing procedures, determined that eventual payment in full is unlikely and has either repossessed and liquidated the related Financed Vehicle or repossessed and held
the related Financed Vehicle in its repossessed inventory for 90 days, whichever occurs first; provided, however, in no event shall the period of
time referred to in clauses (i) or (ii) extend for a combined period of longer than 120 days, or (iii) the relevant Obligor has suffered an Insolvency Event. 

        Two
differences between the two standards account for the change in the Net Loss Ratio reported in the revised Servicer Certificate from the Net Loss Ratio calculated in accordance with
the servicer's customary servicing procedures: 

	1)
	Under
the DART 2000-1 Servicing Agreement the servicer must recognize the entire amount of a bankrupt account as a loss when the obligor files for bankruptcy rather than
when the seller determines the actual amount of loss. Although prior experience does not necessarily predict future performance, in the servicer's experience, a majority of the accounts that file
bankruptcy are collected.

	2)
	Under
the DART 2000-1 Servicing Agreement repossessions in inventory are considered to be a loss if the contract is 120 days delinquent. Traditionally the Servicer
would not consider repossessions in inventory to be a loss until the car has been sold and all liquidation proceeds have been recovered and the loss is known. 

        *Losses
as determined according to the Servicer's customary servicing procedures. 

10

QuickLinks

April 15, 2002 DART 2000-1 DISTRIBUTION SUMMARY

Collection Account

Reserve Account

Dealer Auto Receivables Owner Trust 2000-1

Monthly Report For the April 15, 2002 Distribution Date

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