GE DEALER FLOORPLAN MASTER NOTE TRUST ASSET BACKED NOTES TERMS AGREEMENT (SERIES 2006-2)
Exhibit 1.3
GE DEALER FLOORPLAN
MASTER NOTE TRUST ASSET BACKED NOTES
MASTER NOTE TRUST ASSET BACKED NOTES
TERMS AGREEMENT
(SERIES 2006-2)
(SERIES 2006-2)
| Dated: June 27, 2006 | ||
To:
|
CDF Funding, Inc. | |
| General Electric Capital Corporation | ||
Re:
|
Underwriting Agreement, dated June 26, 2006 among CDF Funding, Inc., | |
| General Electric Capital Corporation and the Representatives referred to therein |
| 1. | Offered Notes. |
The notes described below in this Section 1 are the “Offered Notes” for the purpose of
this Terms Agreement and for purposes of the above-referenced Underwriting Agreement (the
“Underwriting Agreement”). The Underwriting Agreement is incorporated herein and made a
part hereof. The Offered Note are the Series 2006-2 Notes that will be issued by GE Dealer
Floorplan Master Note Trust.
Final |
||||||||
| Class | Principal Amount | Interest Rate | Maturity Date | |||||
A
|
$ | 477,500,000 | One-month LIBOR plus 0.07% per year | April 22, 2013 | ||||
B
|
$ | 17,500,000 | One-month LIBOR plus 0.24% per year | April 22, 2013 | ||||
C
|
$ | 5,000,000 | One-month LIBOR plus 0.43% per year | April 22, 2013 | ||||
| 2. | Underwriters |
The Underwriters named below are the “Underwriters” for the purpose of this Terms Agreement
and for the Underwriting Agreement.
| Class | ||||||
| Underwriter | Purchased | $ Purchased | ||||
Banc of America Securities LLC |
A | $ | 167,125,000 | |||
| B | $ | 8,750,000 | ||||
| C | $ | 2,500,000 | ||||
Greenwich Capital Markets, Inc. |
A | $ | 167,125,000 | |||
| B | $ | 8,750,000 | ||||
| C | $ | 2,500,000 | ||||
Deutsche Bank Securities Inc. |
A | $ | 43,000,000 | |||
| B | $ | 0 | ||||
| C | $ | 0 | ||||
▇▇ ▇▇▇▇▇▇ Securities Inc. |
A | $ | 43,000,000 | |||
| B | $ | 0 | ||||
| C | $ | 0 | ||||
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated |
A | $ | 43,000,000 | |||
| B | $ | 0 | ||||
| C | $ | 0 | ||||
▇▇▇▇▇▇▇▇ & Company, Inc. |
A | $ | 14,250,000 | |||
| B | $ | 0 | ||||
| C | $ | 0 | ||||
| 3. | Underwriting Liability |
| Underwriting Liability | Class A | Class B | Class C | |||||||||
Banc of America Securities LLC |
$ | 167,125,000 | $ | 8,750,000 | $ | 2,500,000 | ||||||
Greenwich Capital Markets, Inc. |
167,125,000 | 8,750,000 | 2,500,000 | |||||||||
Deutsche Bank Securities Inc. |
43,000,000 | 0 | 0 | |||||||||
▇▇ ▇▇▇▇▇▇ Securities Inc. |
43,000,000 | 0 | 0 | |||||||||
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co.
Incorporated |
43,000,000 | 0 | 0 | |||||||||
▇▇▇▇▇▇▇▇ & Company, Inc. |
14,250,000 | 0 | 0 | |||||||||
Total Amount |
$ | 477,500,000 | $ | 17,500,000 | $ | 5,000,000 | ||||||
| 4. | Purchase Price, Discounts and Concessions |
| Class A | Class B | Class C | ||||||||||
Gross Purchase Price |
100 | % | 100 | % | 100 | % | ||||||
Underwriting Discount |
0.1375 | % | 0.2950 | % | 0.3400 | % | ||||||
Net Purchase Price |
99.863 | % | 99.705 | % | 99.660 | % | ||||||
Maximum Dealer Selling Concessions |
0.0825 | % | 0.1770 | % | 0.2040 | % | ||||||
Maximum Dealer Reallowance Discounts |
0.0413 | % | 0.0885 | % | 0.1020 | % | ||||||
| 2 | 2006-2 Terms Agreement |
5. Time of Sale
4:04 p.m. (New York City time) (U.S.) on June 27, 2006 (the time the first Contract of Sale
was entered into as designated by the Representatives.)
| 3 | 2006-2 Terms Agreement |
The Underwriters agree, severally and not jointly, to purchase the Offered Notes subject to
the terms and provisions of this Terms Agreement and the Underwriting Agreement.
| Banc of America Securities LLC, as a Representative | ||||||
| By: | /s/ Mert Arinc | |||||
| Name: Mert Arinc | ||||||
| Title: Principal | ||||||
| Greenwich Capital Markets, Inc., as a Representative | ||||||
| By: | /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ | |||||
| Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ | ||||||
| Title: Managing Director | ||||||
For themselves and as representatives of the other several Underwriters named in this Terms Agreement.
Accepted and Agreed:
CDF Funding, Inc.
By:
|
/s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ | |||
| Name: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ | ||||
| Title: Vice President | ||||
| General Electric Capital Corporation | ||||
By:
|
/s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ | |||
| Name: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ | ||||
| Title: Attorney-in-Fact | ||||
| S-2 | 2006-2 Terms Agreement |