Exhibit 99.8
| Monthly Investor Report: Verizon Master Trust - VZMT 2025-1 | ||||||
| Collection Period | Payment Date | Transaction Month | Series Status at End of Prior Payment Date | |||
| March 2026 | 04/20/2026 | 15 | Revolving | |||
| Offered Notes | Anticipated Redemption Date | Final Maturity Date | Issuance Note Balance | SOFR: Days in the Interest Period | Note Interest Rate | SOFR Adjustment Date | SOFR30A | Total | ||||||||||||||||||||||||
| Class A |
1/20/28 | 01/21/2031 | $534,600,000.00 | 4.71% | 4.71 | % | ||||||||||||||||||||||||||
| Class B |
1/20/28 | 01/21/2031 | $40,872,000.00 | 4.94% | 4.94 | % | ||||||||||||||||||||||||||
| Class C |
1/20/28 | 01/21/2031 | $24,528,000.00 | 5.09% | 5.09 | % | ||||||||||||||||||||||||||
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| Total |
$600,000,000.00 | |||||||||||||||||||||||||||||||
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| Series 2025-1 Allocation % x Group One Available Funds |
$43,125,766.19 | |||
| Amounts paid by the Cap Counterparty |
N/A | |||
| Available Subordinated Amounts |
$0.00 | |||
| Amounts drawn on the Reserve Account |
$0.00 | |||
| Amounts released from Principal Funding Account |
$0.00 | |||
| Any amounts deposited by the Class A Certificateholder in connection with an Optional Redemption |
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| Total Available Funds |
$43,125,766.19 | |||
| Beginning of Period Reserve Account Balance |
$6,539,509.54 | |||
| Required Reserve Amount |
$6,539,509.54 | |||
| Shortfall in Required Reserve Amount |
$0.00 | |||
| Reserve Account funds needed this period (True/False) |
FALSE | |||
| Reserve Account draw amount required |
0.00 | |||
| Reserve Account Deposit Amount |
$0.00 | |||
| End of Period Reserve Account Balance |
$6,539,509.54 | |||
| Waterfall Distribution | Amount Due | Amount Paid | Shortfall | Carryover Shortfall | Remaining | Available Funds | ||||||||||||||||||
| Master Collateral Agent Fee |
$42.84 | $42.84 | $0.00 | $0.00 | $43,125,723.35 | |||||||||||||||||||
| Owner Trustee Fee |
$0.00 | $0.00 | $0.00 | $0.00 | $43,125,723.35 | |||||||||||||||||||
| Asset Representations Reviewer Fee |
$22.91 | $22.91 | $0.00 | $0.00 | $43,125,700.44 | |||||||||||||||||||
| Supplemental ARR Fee |
$91.65 | $91.65 | $0.00 | $0.00 | $43,125,608.79 | |||||||||||||||||||
| Indenture Trustee Fee |
$1,250.00 | $1,250.00 | $0.00 | $0.00 | $43,124,358.79 | |||||||||||||||||||
| Servicing Fee |
$457,529.69 | $457,529.69 | $0.00 | $0.00 | $42,666,829.10 | |||||||||||||||||||
| Class A Note Interest |
$2,098,305.00 | $2,098,305.00 | $0.00 | $0.00 | $40,568,524.10 | |||||||||||||||||||
| First Priority Principal Payment |
$0.00 | $0.00 | $0.00 | $0.00 | $40,568,524.10 | |||||||||||||||||||
| Class B Note Interest |
$168,256.40 | $168,256.40 | $0.00 | $0.00 | $40,400,267.70 | |||||||||||||||||||
| Second Priority Principal Payment |
$0.00 | $0.00 | $0.00 | $0.00 | $40,400,267.70 | |||||||||||||||||||
| Class C Note Interest |
$104,039.60 | $104,039.60 | $0.00 | $0.00 | $40,296,228.10 | |||||||||||||||||||
| Third Priority Principal Payment |
$0.00 | $0.00 | $0.00 | $0.00 | $40,296,228.10 | |||||||||||||||||||
| Reserve Account up to Required Reserve Amount |
$0.00 | $0.00 | $0.00 | $0.00 | $40,296,228.10 | |||||||||||||||||||
| Regular Priority Principal Payment |
$0.00 | $0.00 | $0.00 | $0.00 | $40,296,228.10 | |||||||||||||||||||
| Supplemental Successor Servicer Fee |
$0.00 | $0.00 | $0.00 | $0.00 | $40,296,228.10 | |||||||||||||||||||
| Additional Interest Amounts |
$0.00 | $0.00 | $0.00 | $0.00 | $40,296,228.10 | |||||||||||||||||||
| Make-Whole Payments |
$0.00 | $0.00 | $0.00 | $0.00 | $40,296,228.10 | |||||||||||||||||||
| Additional Fees and Expenses |
$0.00 | $0.00 | $0.00 | $0.00 | $40,296,228.10 | |||||||||||||||||||
| Additional Trust Expenses |
$0.00 | $0.00 | $0.00 | $0.00 | $40,296,228.10 | |||||||||||||||||||
| Class R Interest |
$40,296,228.10 | $40,296,228.10 | $0.00 | $0.00 | $0.00 | |||||||||||||||||||
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| Total |
$43,125,766.19 | $43,125,766.19 | $0.00 | $0.00 | ||||||||||||||||||||
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| Total Priority Principal Payments and Additional Interest Amounts |
$0.00 | |||||||||||||||||||||||
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| Noteholder Payments | Note Balance | PFA Account | Interest Payment | Add’l Interest | Make-Whole | Total Payment | ||||||||||||||||||
| Class A |
$0.00 | $0.00 | $2,098,305.00 | $0.00 | $0.00 | $2,098,305.00 | ||||||||||||||||||
| Class B |
$0.00 | $0.00 | $168,256.40 | $0.00 | $0.00 | $168,256.40 | ||||||||||||||||||
| Class C |
$0.00 | $0.00 | $104,039.60 | $0.00 | $0.00 | $104,039.60 | ||||||||||||||||||
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| Total |
$0.00 | $0.00 | $2,370,601.00 | $0.00 | $0.00 | $2,370,601.00 | ||||||||||||||||||
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| Noteholder Payments | Note Balance | Payment per $ 1,000 of Notes
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As of Prior Payment Date
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Current Payment Date
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| per $1,000 of Notes | Interest Payment | Make-Whole Payment | Total Payment | Balance | Note Pool Factor | Balance | Note Pool Factor | |||||||||||||||||||||||||
| Class A |
$1,000.00 | $3.93 | $0.00 | $3.93 | $534,600,000.00 | 1.00 | $534,600,000.00 | 1.00 | ||||||||||||||||||||||||
| Class B |
$1,000.00 | $4.12 | $0.00 | $4.12 | $40,872,000.00 | 1.00 | $40,872,000.00 | 1.00 | ||||||||||||||||||||||||
| Class C |
$1,000.00 | $4.24 | $0.00 | $4.24 | $24,528,000.00 | 1.00 | $24,528,000.00 | 1.00 | ||||||||||||||||||||||||
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| Total |
$1,000.00 | $3.95 | $0.00 | $3.95 | $600,000,000.00 | 1.00 | $600,000,000.00 | 1.00 | ||||||||||||||||||||||||
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| Beginning Period | Add: Deposit | Ending Period | ||||||||||||||||||||||
| Principal Funding Account Limit |
$300,000,000.00 | 300,000,000.00 | ||||||||||||||||||||||
| Principal Funding Account balance |
$0.00 | $0.00 | $0.00 | |||||||||||||||||||||
Note: Information regarding Amortization Event Tests and Excess Concentration Amounts can be found on the Verizon Master Trust report filed as Exhibit 99.1 to this Form 10-D.
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