<DESCRIPTION>HARLEY-DAVIDSON 2001-1 MAY 15, 2001 8-K
<TEXT>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): 05/15/01
HARLEY DAVIDSON CREDIT CORP.
(Exact name of registrant as specified in its charter)
Nevada 333-21793 88-0292891
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
4150 Technology Way
Carson, City, Nevada 89706
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (702) 885-1200
Item 5. Other Events
The registrant is filing final forms of the exhibit listed in Item 7 (c).
Item 7. Monthly Statements and Exhibits
(a) Financial Statements: None
(b) Pro Forma Financial Information: None
(c) Exhibits: Monthly Servicer Report
Harley-Davidson Eaglemark Motorcycle Trust 2001-1
$221,000,000 4.65% Harley-Davidson Motorcycle Contract Backed Notes, Class A-1
$126,700,000 5.27% Harley-Davidson Motorcycle Contract Backed Notes, Class A-2
$18,3000,000 5.29% Harley-Davidson Motorcycle Contract Backed Notes, Class B
Monthly Report
For the Distribution Dat 5/15/01
A. Calculation of the Monthly Principal
1. A. Principal Balance of the Contracts as of the first day of the Due Period
preceding the Due Period in which the Payment Date Occurs, 256,412,453.39
plus
B. Prefunded Amount on such day referred to in 1.A. above 109,587,546.61
Sum of 1.A and 1.B 366,000,000.00
2. A. Principal Balance of the Contracts as of the first day of the Due Period
in which the Payment Date occurs, plus 250,816,994.19
B. Pre-Funded Amount as of the first day of the Due Period in which such
Payment Date occurs, plus 109,587,546.61
C. The Special Mandatory Redemption Amounts, if any, paid during
such Due Period or payable on such Payment Date 0.00
Sum of 2.A, 2.B, and 2.C 360,404,540.80
B.Calculation of Principal Distributable Amount (as defined in Article I
of the Sale and Servicing Agreement), (from A, 1 minus 2) 5,595,459.20
C. Calculation of Available Interest (as defined in Article I of the Sale
and Servicing Agreement) 1,824,062.08
D.Calculation of Note Monthly Principal Distributable Amount
1. A. Class A 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 A-1 Notes is
reduced to zero 95.00%
b .On the Distribution Date on which the principal amount of the Class A-1
Notes is reduced to zero, 95% until the principal amount of the Class
A-2 Notes has been reduced to zero 95.00%
c.After the principal amount of the Class A-2 Notes have been reduced
to zero 0.00%
B. Class B 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 A-2 Notes is
reduced to zero 5.00%
b .On the Distribution Date on which the principal amount of the Class A-2
Notes is reduced to zero, 5% until the principal amount of the Class
A-2 Notes has been reduced to zero 5.00%
c.After the principal amount of the Class A-2 Notes have been reduced
to zero 100.00%
2.Principal Distributable Amount (from B) 5,595,459.20
3.Note Monthly Principal Distributable Amount
a.Class A-1 Notes (D. 1(a) multiplied by D.2 until
Class A-1 Notes Principal Balance is zero) 5,315,686.24
b.Class A-2 Notes (D. 1(a) multiplied by D.2 until
Class A-2 Notes Principal Balance is zero) 0.00
c.Class B Notes (D. 1(c) multiplied by D.2 until
Class A-2 Notes Principal Balance is zero) 279,772.96
d.Note Principal Carryover Shortfall 0.00
e.Special Mandatory Redemption Amounts (from Pre-Funding Account as
defined in Article I of the Sale and Servicing Agreement) 0.00
g. Note Monthly Principal Distributable Amount (the sum of
items 3 (a), 3 (b) 3 (c) and 3 (d) 5,595,459.20
E.Calculation of Note Monthly Interest Distributable Amount
1.Class A-1 Interest Rate 4.650%
2.Class A-2 Interest Rate 5.270%
3.Class B Interest Rate 5.290%
4.One-twelfth of the Class A-1 Interest Rate time the Class A-1 Note
Balance from and including the fifteenth day of the month based on a
360-day year of 12 months and 30 days each (or from and including the
Closing Date with respect to the first Distribution Date) to but
excluding the fifteenth day of the month of the
current Distribution Date 542,370.83
5.One-twelfth of the Class A-2 Interest Rate time the Class A-2 Note
Balance from and including the fifteenth day of the month based on a
360-day year of 12 months and 30 days each (or from and including the
Closing Date with respect to the first Distribution Date) to but
excluding the fifteenth day of the month of the
current Distribution Date 352,401.97
6.One-twelfth of the Class B Interest Rate time the Class B Note
Balance from and including the fifteenth day of the month based on a
360-day year of 12 months and 30 days each (or from and including the
Closing Date with respect to the first Distribution Date) to but
excluding the fifteenth day of the month of the
current Distribution Date 51,092.58
7.Interest Carryover Shortfall for such Distribution Date 0.00
8.Note Monthly Interest Distributable Amount (the sum of items 4,
5, 6) 945,865.38
F.Calculation of Note Monthly Distributable Amount (sum of
D.3 (f) plus E.8.) 6,541,324.58
F1.The remaining Class A-1 Note Balance after giving effect to the
Distribution of Monthly Principal on such Distribution Date 215,684,313.76
F2.The remaining Class A-2 Note Balance after giving effect to the
distribution of Monthly Principal on such Distribution Date 126,700,000.00
F3.The remaining Class B Note Balance after giving effect to the
distribution of Monthly Principal on such Distribution Date 18,020,227.04
G.Fees
1. The Monthly Servicing Fee for such Payment Date (1/12 of the product of
1% and the Principal Balance of the Contracts as of the beginning of the
related Due Period) 213,677.04
2.The Indenture Trustee Fee for such Payment Date excluding expense
component (1/12 of the product of .005% and the Principal Balance of
the Contracts as of the beginning of the related Due Period and the
Pre-Funded Amount as of the beginning of such Period; provided however,
in no event shall such fee be less than $200.00 per month) 762.50
K.Calculation of the Available Funds for Such Payment 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
a. All amounts received by the Servicer with respect to the Contracts:
(i) Principal 5,595,108.44
(ii) Interest & Fees 1,824,062.08
b. All Net Liquidation Proceeds 0.00
c. The aggregate of the Repurchase Prices for Contracts required to be
repurchased by the Seller as described in Section 7.08 of the Sale
and Servicing Agreement 0.00
d. All Advances made by Servicer pursuant to Section 7.03 (a)
of the Sale and Servicing Agreement 17,395.78
e. All amounts paid by the Seller in connection with an optional
repurchase of the Contracts described in Section 7.10 of the Sale
and Servicing Agreement 0.00
f. All amounts obtained from the Collateral Agent in respect of Carrying
Charges to be deposited into the Collection Account on the upcoming
Payment Date pursuant to Section 7.03(b) Sale and Servicing
Agreement 269,225.82
g. 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) (vii) of the Sale
and Servicing Agreement 0.00
h. Total amount of funds deposited into the Collection Account pursuant
to Section 5.05 (b) (the sum of a. through g.) 7,705,792.12
2.The amount of funds permitted to be withdrawn from the Collection Account
pursuant to clauses (ii) through (iv) of Section 7.05 (a) of the Sale and
Servicing Agreement with respect to the related Due Period
a. Amounts to be withdrawn to reimburse the Servicer for Advances in
accordance with Secti |
