GE DEALER FLOORPLAN MASTER NOTE TRUST ASSET BACKED NOTES TERMS AGREEMENT (SERIES 2006-4)
Exhibit 1.2
GE DEALER FLOORPLAN
MASTER NOTE TRUST ASSET BACKED NOTES
TERMS AGREEMENT
(SERIES 2006-4)
(SERIES 2006-4)
Dated: October 31, 2006
To:
|
CDF Funding, Inc. | |
| General Electric Capital Corporation | ||
Re:
|
Underwriting Agreement, dated October 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 Notes are the Series 2006-4 Notes that will be issued by GE Dealer
Floorplan Master Note Trust.
| Principal | Final | |||||||||||
| Class | Amount | Interest Rate | Maturity Date | |||||||||
A |
$ | 1,193,750,000 | One month LIBOR plus 0.01% per year |
October 20, 2011 | ||||||||
B |
$ | 43,750,000 | One month LIBOR plus 0.12% per year |
October 20, 2011 |
||||||||
C |
$ | 12,500,000 | One month LIBOR plus 0.35% per year |
October 20, 2011 | ||||||||
| 2006-4 Terms Agreement |
2. Underwriters
The Underwriters named below are the “Underwriters” for the purpose of this Terms Agreement
and for the Underwriting Agreement.
| Underwriter | Class Purchased | $ Purchased | ||||||
▇▇▇▇▇▇▇ Lynch, Pierce, ▇▇▇▇▇▇ & ▇▇▇▇▇
Incorporated |
A | $ | 418,875,000 | |||||
| B | $ | 21,875,000 | ||||||
| C | $ | 6,250,000 | ||||||
▇.▇. ▇▇▇▇▇▇ Securities Inc. |
A | $ | 418,875,000 | |||||
| B | $ | 21,875,000 | ||||||
| C | $ | 6,250,000 | ||||||
Banc of America Securities LLC |
A | $ | 77,500,000 | |||||
| B | $ | 0 | ||||||
| C | $ | 0 | ||||||
Deutsche Bank Securities Inc. |
A | $ | 77,500,000 | |||||
| B | $ | 0 | ||||||
| C | $ | 0 | ||||||
Greenwich Capital Markets, Inc. |
A | $ | 77,500,000 | |||||
| B | $ | 0 | ||||||
| C | $ | 0 | ||||||
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated |
A | $ | 77,500,000 | |||||
| B | $ | 0 | ||||||
| C | $ | 0 | ||||||
CastleOak Securities, L.P. |
A | $ | 23,000,000 | |||||
| B | $ | 0 | ||||||
| C | $ | 0 | ||||||
The ▇▇▇▇▇▇▇▇ Capital Group, L.P. |
A | $ | 23,000,000 | |||||
| B | $ | 0 | ||||||
| C | $ | 0 | ||||||
| 2 | 2006-4 Terms Agreement |
3. Underwriting Liability
| Underwriting Liability | Class A | Class B | Class C | |||||||||
▇▇▇▇▇▇▇ Lynch, Pierce, ▇▇▇▇▇▇ &
▇▇▇▇▇ Incorporated |
$ | 418,875,000 | $ | 21,875,000 | $ | 6,250,000 | ||||||
▇.▇. ▇▇▇▇▇▇ Securities Inc. |
418,875,000 | 21,875,000 | 6,250,000 | |||||||||
Banc of America Securities LLC |
77,500,000 | 0 | 0 | |||||||||
Deutsche Bank Securities Inc. |
77,500,000 | 0 | 0 | |||||||||
Greenwich Capital Markets, Inc. |
77,500,000 | 0 | 0 | |||||||||
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated |
77,500,000 | 0 | 0 | |||||||||
CastleOak Securities, L.P. |
23,000,000 | 0 | 0 | |||||||||
The ▇▇▇▇▇▇▇▇ Capital Group, L.P. |
23,000,000 | 0 | 0 | |||||||||
Total Amount |
$ | 1,193,750,000 | $ | 43,750,000 | $ | 12,500,000 | ||||||
4. Purchase Price, Discounts and Concessions
| Class A | Class B | Class C | ||||||||||
Gross Purchase Price |
100 | % | 100 | % | 100 | % | ||||||
Underwriting Discount |
0.125 | % | 0.220 | % | 0.290 | % | ||||||
Net Purchase Price |
99.875 | % | 99.780 | % | 99.710 | % | ||||||
Maximum Dealer Selling Concessions |
0.0750 | % | 0.1320 | % | 0.1740 | % | ||||||
Maximum Dealer Reallowance Discounts |
0.0375 | % | 0.0660 | % | 0.0870 | % | ||||||
5. Time of Sale
12:05 p.m. (New York City time) on October 31, 2006 (the time the first Contract of Sale was
entered into as designated by the Representatives).
| 3 | 2006-4 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.
| ▇▇▇▇▇▇▇ LYNCH, PIERCE, ▇▇▇▇▇▇ & ▇▇▇▇▇ INCORPORATED, as a Representative |
||||||
| By: | /s/ ▇▇▇▇ ▇▇▇▇▇▇ | |||||
| Name: ▇▇▇▇ ▇▇▇▇▇▇ Title: Vice President |
||||||
| ▇.▇. ▇▇▇▇▇▇ SECURITIES 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.
| S-1 | 2006-4 Terms Agreement |
| Accepted and Agreed: | ||||
| CDF Funding, Inc. | ||||
By:
|
/s/ ▇▇▇▇ ▇. Peak | |||
| Name: ▇▇▇▇ ▇. Peak | ||||
| Title: Vice President | ||||
| General Electric Capital Corporation | ||||||
| By: | /s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ | |||||
| Name: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ | ||||||
| Title: Attorney-in-Fact | ||||||
| S-2 | 2006-4 Terms Agreement |