-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Bu0d22OdAVMaWk+hPqc0o1Xr7JRXS8nydcusSlLurhzn4rxtSwmKhUtZxoQc8Dp+ V10sM4ITygLKVIeR45MHxA== 0001144204-08-023853.txt : 20080423 0001144204-08-023853.hdr.sgml : 20080423 20080423162929 ACCESSION NUMBER: 0001144204-08-023853 CONFORMED SUBMISSION TYPE: 10-D PUBLIC DOCUMENT COUNT: 9 CONFORMED PERIOD OF REPORT: 20080331 FILED AS OF DATE: 20080423 DATE AS OF CHANGE: 20080423 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GE Dealer Floorplan Master Note Trust CENTRAL INDEX KEY: 0001290200 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 270087394 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-D SEC ACT: 1934 Act SEC FILE NUMBER: 333-115582 FILM NUMBER: 08772108 BUSINESS ADDRESS: STREET 1: 5595 TRILLIUM BOULEVARD CITY: HOFFMAN ESTATES STATE: IL ZIP: 60192 BUSINESS PHONE: 847-747-6800 MAIL ADDRESS: STREET 1: 5595 TRILLIUM BOULEVARD CITY: HOFFMAN ESTATES STATE: IL ZIP: 60192 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CDF Funding, Inc. CENTRAL INDEX KEY: 0001290205 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 201060484 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-D SEC ACT: 1934 Act SEC FILE NUMBER: 333-115582-03 FILM NUMBER: 08772109 BUSINESS ADDRESS: STREET 1: 5595 TRILLIUM BOULEVARD CITY: HOFFMAN ESTATES STATE: IL ZIP: 60192 BUSINESS PHONE: 847-747-6800 MAIL ADDRESS: STREET 1: 5595 TRILLIUM BOULEVARD CITY: HOFFMAN ESTATES STATE: IL ZIP: 60192 10-D 1 v111397_10d.htm Unassociated Document


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-D

ASSET-BACKED ISSUER
Distribution Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

For the monthly distribution period from March 1, 2008 to March 31, 2008

Commission File Number of issuing entity: 333-115582

GE Dealer Floorplan Master Note Trust
(Exact name of issuing entity as specified in its charter)

Commission File Number of depositor: 333-115582-03

CDF Funding, Inc.
(Exact name of depositor as specified in its charter)

GE Commercial Distribution Finance Corporation
(Exact name of sponsor as specified in its charter)

Delaware
 
None
(State or other jurisdiction of incorporation or organization of the issuing entity)
 
(I.R.S. Employer Identification No.)
     
5595 Trillium Boulevard
Hoffman Estates, Illinois 60192
 
60192
(Address of principal executive offices of
issuing entity)
 
(Zip Code)
 
(847) 747-4043
(Telephone number, including area code)
 
N/A
(Former name, former address, if changed since last report)

Title of Class
Registered/reported pursuant to (check one)
Name of exchange
 
Section 12(b)
Section 12(g)
Section 15(d)
(If Section 12(b))
Series 2005-1 Asset Backed Notes in the
classes specified herein
o
o
x
_______________
Series 2005-2 Asset Backed Notes in the
classes specified herein
o
o
x
_______________
Series 2006-1 Asset Backed Notes in the
classes specified herein
o
o
x
_______________
Series 2006-2 Asset Backed Notes in the
classes specified herein
o
o
x
_______________
Series 2006-3 Asset Backed Notes in the
classes specified herein
o
o
x
_______________
Series 2006-4 Asset Backed Notes in the
classes specified herein
o
o
x
_______________
Series 2007-1 Asset Backed Notes in the
classes specified herein
o
o
x
_______________
Series 2007-2 Asset Backed Notes in the
classes specified herein
o
o
x
_______________

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes x    No o



PART I - DISTRIBUTION INFORMATION

ITEM 1 - Distribution and Pool Performance Information.

The response to Item 1 is set forth in part herein and in part in Exhibits 99.1, 99.2, 99.3, 99.4, 99.5, 99.6, 99.7 and 99.8.

Introductory and explanatory information regarding the material terms, parties and distributions described in Exhibit 99.1 is included in the Prospectus Supplement relating to the Asset Backed Notes, Series 2005-1 (the “2005-1 Notes”), dated April 26, 2005, and related Prospectus dated April 26, 2005 (collectively, the “2005-1 Prospectus”), of the Issuing Entity filed with the Securities and Exchange Commission pursuant to Rule 424(b)(5) under the Securities Act of 1933. The following classes of 2005-1 Notes were offered under the 2005-1 Prospectus: Class A, Class B, and Class C.

Introductory and explanatory information regarding the material terms, parties and distributions described in Exhibit 99.2 is included in the Prospectus Supplement relating to the Asset Backed Notes, Series 2005-2 (the “2005-2 Notes”), dated October 12, 2005, and related Prospectus dated October 12, 2005 (collectively, the “2005-2 Prospectus”), of the Issuing Entity filed with the Securities and Exchange Commission pursuant to Rule 424(b)(5) under the Securities Act of 1933. The following classes of 2005-2 Notes were offered under the 2005-2 Prospectus: Class A, Class B, and Class C.

Introductory and explanatory information regarding the material terms, parties and distributions described in Exhibit 99.3 is included in the Prospectus Supplement relating to the Asset Backed Notes, Series 2006-1 (the “2006-1 Notes”), dated June 27, 2006, and related Prospectus dated June 27, 2006 (collectively, the “2006-1 Prospectus”), of the Issuing Entity filed with the Securities and Exchange Commission pursuant to Rule 424(b)(5) under the Securities Act of 1933. The following classes of 2006-1 Notes were offered under the 2006-1 Prospectus: Class A, Class B, and Class C.

Introductory and explanatory information regarding the material terms, parties and distributions described in Exhibit 99.4 is included in the Prospectus Supplement relating to the Asset Backed Notes, Series 2006-2 (the “2006-2 Notes”), dated June 27, 2006, and related Prospectus dated June 27, 2006 (collectively, the “2006-2 Prospectus”), of the Issuing Entity filed with the Securities and Exchange Commission pursuant to Rule 424(b)(5) under the Securities Act of 1933. The following classes of 2006-2 Notes were offered under the 2006-2 Prospectus: Class A, Class B, and Class C.

Introductory and explanatory information regarding the material terms, parties and distributions described in Exhibit 99.5 is included in the Prospectus Supplement relating to the Asset Backed Notes, Series 2006-3 (the “2006-3 Notes”), dated August 1, 2006, and related Prospectus dated July 31, 2006 (collectively, the “2006-3 Prospectus”), of the Issuing Entity filed with the Securities and Exchange Commission pursuant to Rule 424(b)(5) under the Securities Act of 1933. The following classes of 2006-3 Notes were offered under the 2006-3 Prospectus: Class A, Class B, and Class C.

2


Introductory and explanatory information regarding the material terms, parties and distributions described in Exhibit 99.6 is included in the Prospectus Supplement relating to the Asset Backed Notes, Series 2006-4 (the “2006-4 Notes”), dated October 31, 2006, and related Prospectus dated October 30, 2006 (collectively, the “2006-4 Prospectus”), of the Issuing Entity filed with the Securities and Exchange Commission pursuant to Rule 424(b)(5) under the Securities Act of 1933. The following classes of 2006-4 Notes were offered under the 2006-4 Prospectus: Class A, Class B, and Class C.

Introductory and explanatory information regarding the material terms, parties and distributions described in Exhibit 99.7 is included in the Prospectus Supplement relating to the Asset Backed Notes, Series 2007-1 (the “2007-1 Notes”), dated April 19, 2007, and related Prospectus dated April 18, 2007 (collectively, the “2007-1 Prospectus”), of the Issuing Entity filed with the Securities and Exchange Commission pursuant to Rule 424(b)(5) under the Securities Act of 1933. The following classes of 2007-1 Notes were offered under the 2007-1 Prospectus: Class A, Class B, and Class C.

Introductory and explanatory information regarding the material terms, parties and distributions described in Exhibit 99.8 is included in the Prospectus Supplement relating to the Asset Backed Notes, Series 2007-2 (the “2007-2 Notes”), dated July 24, 2007, and related Prospectus dated July 23, 2007 (collectively, the “2007-2 Prospectus”), of the Issuing Entity filed with the Securities and Exchange Commission pursuant to Rule 424(b)(5) under the Securities Act of 1933. The following classes of 2007-2 Notes were offered under the 2007-2 Prospectus: Class A, Class B, and Class C.

PART II - OTHER INFORMATION

ITEM 2 - Legal Proceedings.

Nothing to report.

ITEM 3 - Sales of Securities and Use of Proceeds.

Nothing to report.

ITEM 4 - Defaults Upon Senior Securities.

Nothing to report.

ITEM 5 - Submission of Matters to a Vote of Security Holders.

Nothing to report.

ITEM 6 - Significant Obligors of Pool Assets.

Nothing to Report.

3


ITEM 7 - Significant Enhancement Provider Information.

Inapplicable.

ITEM 8 - Other Information.

Nothing to report.


ITEM 9 - Exhibits.
 
 
(a)
Documents filed as part of this report.
 
Exhibit 99.1
2005-1 Monthly Noteholder’s Statement
 
Exhibit 99.2
2005-2 Monthly Noteholder’s Statement
 
Exhibit 99.3
2006-1 Monthly Noteholder’s Statement
 
Exhibit 99.4
2006-2 Monthly Noteholder’s Statement
 
Exhibit 99.5
2006-3 Monthly Noteholder’s Statement
 
Exhibit 99.6
2006-4 Monthly Noteholder’s Statement
 
Exhibit 99.7
2007-1 Monthly Noteholder’s Statement
 
Exhibit 99.8
2007-2 Monthly Noteholder’s Statement
 
 
(b)
Exhibits required by Form 10-D and Item 601 of Regulation S-K.
 
Exhibit 99.1
2005-1 Monthly Noteholder’s Statement
 
Exhibit 99.2
2005-2 Monthly Noteholder’s Statement
 
Exhibit 99.3
2006-1 Monthly Noteholder’s Statement
 
Exhibit 99.4
2006-2 Monthly Noteholder’s Statement
 
Exhibit 99.5
2006-3 Monthly Noteholder’s Statement
 
Exhibit 99.6
2006-4 Monthly Noteholder’s Statement
 
Exhibit 99.7
2007-1 Monthly Noteholder’s Statement
 
Exhibit 99.8
2007-2 Monthly Noteholder’s Statement
 
4



SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
Dated: April 22, 2008
 
CDF FUNDING, INC.
(Depositor)

By:  /s/ John E. Peak            
Name: John E. Peak
Title:   Vice President

5

 
EX-99.1 2 v111397_ex99-1.htm Unassociated Document

GE Dealer Floorplan Master Note Trust
2005-1
Payment Date:
4/21/2008
   
Collection Period Ended:
3/31/2008
   
Closing Date:
5/5/2005
   
Next Payment Date:
5/20/2008
   
Expected Principal Payment Date:
4/21/2008
   
Final Maturity Date:
4/20/2010
     
     

Note Payment Detail
 
Class
CUSIP
Interest Rate
Original Face
Value
Beginning
Class Balance
Principal
Payment
Amount
Interest
Payment
Amount
Total
Ending
Class Balance
A
36159LAG1
2.57563%
1,190,000,000.00
1,190,000,000.00
1,190,000,000.00
2,724,444.18
1,192,724,444.18
0.00
B
36159LAH9
2.76563%
37,600,000.00
37,600,000.00
37,600,000.00
92,433.50
37,692,433.50
0.00
C
36159LAJ5
3.00563%
22,400,000.00
22,400,000.00
22,400,000.00
59,845.43
22,459,845.43
0.00
TOTALS
   
1,250,000,000.00
1,250,000,000.00
1,250,000,000.00
2,876,723.11
1,252,876,723.11
0.00

Beginning of Month Balance
         
8,992,680,051.92
New Volume
         
2,193,093,727.33
Principal Collections
         
2,080,781,560.26
Defaulted Amount
         
6,260,284.12
End of Month Balance
         
9,098,731,934.87
             
Annualized Yield
         
7.82%
             
Overconcentrations
           
Are there any Dealer Overconcentrations?
No
       
0.00
           
Are there any Manufacturer Overconcentrations?
No
       
0.00
           
Are there any Product Line Overconcentrations?
No
       
0.00
           
             
Collections
 
Total
 
Overconcentration
   
Principal Collections
 
2,080,781,560.26
 
0.00
 
2,080,781,560.26
Non Principal Collections
 
61,080,951.48
 
0.00
 
61,080,951.48
Total Collections
 
2,141,862,511.74
 
0.00
 
2,141,862,511.74
Defaults
           
Default Amount
 
6,260,284.12
 
0.00
 
6,260,284.12
Series Allocation Percentage
         
13.90%
Investor Default Amount
         
870,191.66
Charge-offs
           
Investor Charge-offs
         
0.00
 
Page 1 of 8


GE Dealer Floorplan Master Note Trust
2005-1
Payment Date:
4/21/2008
   
Collection Period Ended:
3/31/2008
   
Closing Date:
5/5/2005
   
Next Payment Date:
5/20/2008
   
Expected Principal Payment Date:
4/21/2008
   
Final Maturity Date:
4/20/2010
     
     
 
Allocation of Available Non Principal Collections    
Series Allocation Percentage
13.90%
 
Available Non Principal Collections Allocated to Series
 
8,490,370.94
Application of Available Non Principal Collections and Available Principal Collections    
       
(a)
Available Non Principal Collections Allocated to Series
 
8,490,370.94
           
 
(i)
(A)
Amount to Indenture Trustee
 
0.00
   
(B)
Amount to Trustee
 
0.00
   
(C)
Amount to Administrator
 
62.50
   
(D)
Amount to Custodian
 
0.00
         
 
(ii)
Noteholder Servicing Fee
 
2,083,333.33
   
Unpaid Servicer Advances and interest thereon
 
0.00
         
 
(iii)
Class A Monthly Interest
 
2,724,444.18
 
(iv)
Class B Monthly Interest
 
92,433.50
 
(v)
Class C Monthly Interest
 
59,845.43
         
 
(vi)
Investor Default Amount (treated as Available Principal Collections)
 
870,191.66
       
  (vii)
Investor Charge-offs
0.00
 
   
Reimbursement of Investor Charge-offs
0.00
 
   
Unreimbursed Investor Charge-offs
0.00
 
   
Reallocation Principal Collections
0.00
 
   
Reimbursement of Reallocated Principal Collections
0.00
 
   
Unreimbursed Reallocated Principal Collections
0.00
 
   
Sum of Unreimbursed Investor Charge-offs and Reallocated Principal Collections
 
0.00
         
 
(viii)
Amount Required to be Deposited to the Reserve Account
 
0.00
         
 
(ix)
Remaining Amounts due to:
   
   
Indenture Trustee
 
0.00
   
Trustee
 
0.00
   
Administrator
 
0.00
   
Custodian
 
0.00
         
 
(x)
Amounts otherwise required to be Deposited to Principal Account
 
0.00

Page 2 of 8


GE Dealer Floorplan Master Note Trust
2005-1
Payment Date:
4/21/2008
   
Collection Period Ended:
3/31/2008
   
Closing Date:
5/5/2005
   
Next Payment Date:
5/20/2008
   
Expected Principal Payment Date:
4/21/2008
   
Final Maturity Date:
4/20/2010
     
     
 
Excess Non Principal Collections for Series 2005-1
   
2,660,060.34
 
Excess Non Principal Collections for Series 2005-2
   
1,604,041.07
 
Excess Non Principal Collections for Series 2006-1
   
3,237,712.64
 
Excess Non Principal Collections for Series 2006-2
   
1,052,373.65
 
Excess Non Principal Collections for Series 2006-3
   
2,158,632.03
 
Excess Non Principal Collections for Series 2006-4
   
2,700,250.11
 
Excess Non Principal Collections for Series 2007-1
   
2,132,854.24
 
Excess Non Principal Collections for Series 2007-2
   
2,152,676.47
 
         
Total Excess Non Principal Collections
   
17,698,600.55
 
         
         
Non Principal Shortfalls for Series 2005-1
   
0.00
 
Non Principal Shortfalls for Series 2005-2
   
0.00
 
Non Principal Shortfalls for Series 2006-1
   
0.00
 
Non Principal Shortfalls for Series 2006-2
   
0.00
 
Non Principal Shortfalls for Series 2006-3
   
0.00
 
Non Principal Shortfalls for Series 2006-4
   
0.00
 
Non Principal Shortfalls for Series 2007-1
   
0.00
 
Non Principal Shortfalls for Series 2007-2
   
0.00
 
Total Non Principal Shortfalls
   
0.00
 
         
         
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2005-1
   
0.00
 
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2005-2
   
0.00
 
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2006-1
   
0.00
 
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2006-2
   
0.00
 
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2006-3
   
0.00
 
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2006-4
   
0.00
 
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2007-1
   
0.00
 
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2007-2
   
0.00
 
Total Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls
   
0.00
 
         
Released to Transferor
   
17,698,600.55
 
 
Page 3 of 8

 
GE Dealer Floorplan Master Note Trust
2005-1
Payment Date:
4/21/2008
   
Collection Period Ended:
3/31/2008
   
Closing Date:
5/5/2005
   
Next Payment Date:
5/20/2008
   
Expected Principal Payment Date:
4/21/2008
   
Final Maturity Date:
4/20/2010
     
     
 
 
(b)
Revolving Period
 
 
Principal Collections Allocated to Series According to 4.3(b)(ii)(x) of Indenture Supplement
0.00
 
Available Principal Collections Treated as Shared Principal Collections Applied According to Section 8.5 of Indenture
0.00
     
(c)
Controlled Accumulation Period
 
 
Principal Collections Allocated to Series According to 4.3(b)(ii)(y) of Indenture Supplement
289,232,679.84
 
Available Principal Collections Treated as Shared Principal Collections
290,102,871.50
 
(i)
Monthly Principal Deposited into the Principal Account
250,000,000.00
 
(ii)
Monthly Principal Deposited to Distribution Account and paid to:
 
   
Class A
0.00
   
Class B
0.00
   
Class C
0.00
 
(iii)
Amounts Remaining as Shared Principal Collections Applied According to Section 8.5 of Indenture
40,102,871.50
     
 
Early Amortization Period
 
 
Principal Collections Allocated to Series According to 4.3(b)(ii)(z) of Indenture Supplement
0.00
 
(i)
Monthly Principal Deposited into the Principal Account
0.00
 
(ii)
Monthly Principal Deposited to Distribution Account and paid to:
 
   
Class A
0.00
   
Class B
0.00
   
Class C
0.00
 
(iii)
Amounts Remaining as Shared Principal Collections Applied According to Section 8.5 of Indenture
0.00
   
Shared Principal Collections for Principal Sharing Series
 
Aggregate Shared Principal Collections for Principal Sharing Series
1,664,678,951.87
Aggregate Principal Shortfall for Principal Sharing Series
0.00
   
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2005-1
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2005-2
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2006-1
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2006-2
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2006-3
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2006-4
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2007-1
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2007-2
0.00
   
Amount Deposited into the Excess Funding Account
0.00
Released to Transferor
1,664,678,951.87

Page 4 of 8


GE Dealer Floorplan Master Note Trust
2005-1
Payment Date:
4/21/2008
   
Collection Period Ended:
3/31/2008
   
Closing Date:
5/5/2005
   
Next Payment Date:
5/20/2008
   
Expected Principal Payment Date:
4/21/2008
   
Final Maturity Date:
4/20/2010
     
     
 
Reserve Account (Series Level Account)
     
Beginning Reserve Account Amount
   
39,000,000.00
 
Required Reserve Account Amount
       
Required Reserve Account Percentage
   
3.12%
 
Note Principal Balance
   
1,250,000,000.00
 
Required Reserve Account Amount
   
39,000,000.00
 
         
Reserve Account Deficiency
   
0.00
 
Reserve Account Deposits
   
110,630.32
 
Reserve Account Withdrawals
   
110,630.32
 
Ending Reserve Account Amount
   
39,000,000.00
 
         
Non Principal Account (Series Level Account)
       
Beginning Balance
   
0.00
 
Deposits
   
2,876,723.11
 
Disbursements
   
2,876,723.11
 
Ending Balance
   
0.00
 
         
Principal Account (Series Level Account)
       
Beginning Balance
   
1,000,000,000.00
 
Deposits
   
250,000,000.00
 
Disbursements
   
1,250,000,000.00
 
Ending Balance
   
0.00
 
         
Free Equity Amount
       
Note Trust Principal Balance
   
9,098,731,934.87
 
Aggregate Collateral Amount for all Series of Notes
   
8,250,000,000.00
 
Free Equity Amount
   
848,731,934.87
 
         
Minimum Free Equity Percentage
   
0.00%
 
Outstanding Principal Balance
   
8,250,000,000.00
 
Total Overconcentration
   
0.00
 
Minimum Free Equity Amount
   
0.00
 
         
Excess Funding Account (Trust Level Account)
       
Beginning Balance
   
0.00
 
Deposits
   
0.00
 
Disbursements
   
0.00
 
Ending Balance
   
0.00
 


Page 5 of 8


GE Dealer Floorplan Master Note Trust
2005-1
Payment Date:
4/21/2008
   
Collection Period Ended:
3/31/2008
   
Closing Date:
5/5/2005
   
Next Payment Date:
5/20/2008
   
Expected Principal Payment Date:
4/21/2008
   
Final Maturity Date:
4/20/2010
     
     
 
Summary of Allocation of Collections
     
         
Total Principal Collections
   
2,080,781,560.26
 
         
Principal Collections Allocated to Series 2005-1
   
289,232,679.84
 
Principal Collections Allocated to Series 2005-2
   
173,539,607.89
 
Principal Collections Allocated to Series 2006-1
   
347,079,215.80
 
Principal Collections Allocated to Series 2006-2
   
115,693,071.93
 
Principal Collections Allocated to Series 2006-3
   
231,386,143.87
 
Principal Collections Allocated to Series 2006-4
   
289,232,679.84
 
Principal Collections Allocated to Series 2007-1
   
231,386,143.87
 
Principal Collections Allocated to Series 2007-2
   
231,386,143.87
 
Principal Collections Not Allocated to Any Series and Released to Transferor
   
171,845,873.35
 
         
Total Non Principal Collections
   
61,080,951.48
 
         
Non Principal Collections Allocated to Series 2005-1
   
8,490,370.94
 
Non Principal Collections Allocated to Series 2005-2
   
5,094,222.55
 
Non Principal Collections Allocated to Series 2006-1
   
10,188,445.12
 
Non Principal Collections Allocated to Series 2006-2
   
3,396,148.37
 
Non Principal Collections Allocated to Series 2006-3
   
6,792,296.75
 
Non Principal Collections Allocated to Series 2006-4
   
8,490,370.94
 
Non Principal Collections Allocated to Series 2007-1
   
6,792,296.75
 
Non Principal Collections Allocated to Series 2007-2
   
6,792,296.75
 
         
Non Principal Collections Not Allocated to Any Series and Released to Transferor
   
5,044,503.31
 

Page 6 of 8

 
GE Dealer Floorplan Master Note Trust
2005-1
Payment Date:
4/21/2008
   
Collection Period Ended:
3/31/2008
   
Closing Date:
5/5/2005
   
Next Payment Date:
5/20/2008
   
Expected Principal Payment Date:
4/21/2008
   
Final Maturity Date:
4/20/2010
     
     
 
Performance
       
         
(1) Are there any material modifications, extensions, or waivers to pool assets?
 
No
         
(2) Are there any material breaches of pool of assets representations and warranties or covenants?
 
No
         
(3) Are there any changes in criteria used to originate, acquire, or select new pool assets?
 
No
         
(4) Has the master servicer made any Servicer Advances during the previous collection period?
 
No
         
(5) Has an early amortization event occurred?
 
No
         
(6) Have any Payment Rate Triggers been met?
 
No
Average Monthly Payment Rates < 18%
       
Current Monthly Payment Rate
 
23.14%
   
Prior Monthly Payment Rate
 
20.89%
   
Second Prior Monthly Payment Rate
 
22.16%
   
3 Month Average Monthly Payment Rate
 
22.06%
   
         
(7) Reserve Account balance < Reserve Account trigger
 
No
Reserve Account balance
 
39,000,000.00
   
(A) Required Reserve Account Percentage minus 0.25%
 
2.87
   
times (B) Note Principal Balance
 
1,250,000,000.00
   
Reserve Account trigger
 
35,875,000.00
   
         
(8) The sum of all investments held in trust accounts of the Issuer > 50% of the assets of the Issuer
 
No
         
Current Month
16.14%
     
Prior Month
13.55%
     
Second Prior Month
10.90%
     
Third Prior Month
8.23%
     
Fourth Prior Month
5.48%
     
Fifth Prior Month
2.58%
     
         
(9) Have any new series been issued during the related monthly collection period?
 
No
         
(10) Have any account additions or account removals occurred during the related monthly collection period?
 
No
Number of accounts added / (removed)
       
 
Page 7 of 8


GE Dealer Floorplan Master Note Trust
2005-1
Payment Date:
4/21/2008
   
Collection Period Ended:
3/31/2008
   
Closing Date:
5/5/2005
   
Next Payment Date:
5/20/2008
   
Expected Principal Payment Date:
4/21/2008
   
Final Maturity Date:
4/20/2010
     
     
 
 
Delinquency
         
           
Days Outstanding
 
Amount
(Dollars in Millions)
 
Percentage of Total
Receivables Outstanding
 
31 - 60
 
4.5
 
0.05%
 
61 - 90
 
2.7
 
0.03%
 
91 - 120
 
2.1
 
0.02%
 
121 - 150
 
2.0
 
0.02%
 
151 - 180
 
0.8
 
0.01%
 
*Total
 
12.1
 
0.13%
 
 
*Figures may not foot due to rounding
 
Page 8 of 8

 
EX-99.2 3 v111397_ex99-2.htm Unassociated Document
GE Dealer Floorplan Master Note Trust
2005-2
Payment Date:
4/21/2008
 
Collection Period Ended:
3/31/2008
 
Closing Date:
5/5/2005
 
Next Payment Date:
5/20/2008
 
Expected Principal Payment Date:
9/22/2008
 
Final Maturity Date:
9/20/2010
 

Note Payment Detail

Class
CUSIP
Interest Rate
Original Face
Value
Beginning
Class Balance
Principal
Payment
Amount
Interest
Payment
Amount
Total
Ending
Class Balance
A
36159LAK2
2.56563%
714,000,000.00
714,000,000.00
0.00
1,628,319.84
1,628,319.84
714,000,000.00
B
36159LAL0
2.73563%
22,600,000.00
22,600,000.00
0.00
54,955.77
54,955.77
22,600,000.00
C
36159LAM8
2.91563%
13,400,000.00
13,400,000.00
0.00
34,728.39
34,728.39
13,400,000.00
TOTALS
   
750,000,000.00
750,000,000.00
0.00
1,718,004.00
1,718,004.00
750,000,000.00

Beginning of Month Balance
         
8,992,680,051.92
New Volume
         
2,193,093,727.33
Principal Collections
         
2,080,781,560.26
Defaulted Amount
         
6,260,284.12
End of Month Balance
         
9,098,731,934.87
             
Annualized Yield
         
7.82%
             
Overconcentrations
           
Are there any Dealer Overconcentrations?
 
No
       
0.00
           
Are there any Manufacturer Overconcentrations?
 
No
       
0.00
           
Are there any Product Line Overconcentrations?
 
No
       
0.00
           
             
Collections
 
Total
 
Overconcentration
   
Principal Collections
 
2,080,781,560.26
 
0.00
 
2,080,781,560.26
Non Principal Collections
 
61,080,951.48
 
0.00
 
61,080,951.48
Total Collections
 
2,141,862,511.74
 
0.00
 
2,141,862,511.74
Defaults
           
Default Amount
 
6,260,284.12
 
0.00
 
6,260,284.12
Series Allocation Percentage
         
8.34%
Investor Default Amount
         
522,114.99
Charge-offs
           
Investor Charge-offs
         
0.00
 
Page 1 of 8


GE Dealer Floorplan Master Note Trust
2005-2
Payment Date:
4/21/2008
 
Collection Period Ended:
3/31/2008
 
Closing Date:
5/5/2005
 
Next Payment Date:
5/20/2008
 
Expected Principal Payment Date:
9/22/2008
 
Final Maturity Date:
9/20/2010
 
 
Allocation of Available Non Principal Collections    
Series Allocation Percentage
8.34%
 
Available Non Principal Collections Allocated to Series
 
5,094,222.56
Application of Available Non Principal Collections and Available Principal Collections    
       
(a) 
Available Non Principal Collections Allocated to Series
 
5,094,222.56
           
 
(i)
(A)
Amount to Indenture Trustee
 
0.00
   
(B)
Amount to Trustee
 
0.00
   
(C)
Amount to Administrator
 
62.50
   
(D)
Amount to Custodian
 
0.00
         
 
(ii)
Noteholder Servicing Fee
 
1,250,000.00
   
Unpaid Servicer Advances and interest thereon
 
0.00
         
 
(iii)
Class A Monthly Interest
 
1,628,319.84
 
(iv)
Class B Monthly Interest
 
54,955.77
 
(v)
Class C Monthly Interest
 
34,728.39
         
 
(vi)
Investor Default Amount (treated as Available Principal Collections)
 
522,114.99
         
 
(vii)
Investor Charge-offs
0.00
 
   
Reimbursement of Investor Charge-offs
0.00
 
   
Unreimbursed Investor Charge-offs
0.00
 
   
Reallocation Principal Collections
0.00
 
   
Reimbursement of Reallocated Principal Collections
0.00
 
   
Unreimbursed Reallocated Principal Collections
0.00
 
   
Sum of Unreimbursed Investor Charge-offs and Reallocated Principal Collections
 
0.00
         
 
(viii)
Amount Required to be Deposited to the Reserve Account
 
0.00
         
 
(ix)
Remaining Amounts due to:
   
   
Indenture Trustee
 
0.00
   
Trustee
 
0.00
   
Administrator
 
0.00
   
Custodian
 
0.00
         
 
(x)
Amounts otherwise required to be Deposited to Principal Account
 
0.00
 
Page 2 of 8


GE Dealer Floorplan Master Note Trust
2005-2
Payment Date:
4/21/2008
 
Collection Period Ended:
3/31/2008
 
Closing Date:
5/5/2005
 
Next Payment Date:
5/20/2008
 
Expected Principal Payment Date:
9/22/2008
 
Final Maturity Date:
9/20/2010
 
 
Excess Non Principal Collections for Series 2005-1
   
2,660,060.34
 
Excess Non Principal Collections for Series 2005-2
   
1,604,041.07
 
Excess Non Principal Collections for Series 2006-1
   
3,237,712.64
 
Excess Non Principal Collections for Series 2006-2
   
1,052,373.65
 
Excess Non Principal Collections for Series 2006-3
   
2,158,632.03
 
Excess Non Principal Collections for Series 2006-4
   
2,700,250.11
 
Excess Non Principal Collections for Series 2007-1
   
2,132,854.24
 
Excess Non Principal Collections for Series 2007-2
   
2,152,676.47
 
         
Total Excess Non Principal Collections
   
17,698,600.55
 
         
Non Principal Shortfalls for Series 2005-1
   
0.00
 
Non Principal Shortfalls for Series 2005-2
   
0.00
 
Non Principal Shortfalls for Series 2006-1
   
0.00
 
Non Principal Shortfalls for Series 2006-2
   
0.00
 
Non Principal Shortfalls for Series 2006-3
   
0.00
 
Non Principal Shortfalls for Series 2006-4
   
0.00
 
Non Principal Shortfalls for Series 2007-1
   
0.00
 
Non Principal Shortfalls for Series 2007-2
   
0.00
 
Total Non Principal Shortfalls
   
0.00
 
         
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2005-1
   
0.00
 
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2005-2
   
0.00
 
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2006-1
   
0.00
 
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2006-2
   
0.00
 
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2006-3
   
0.00
 
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2006-4
   
0.00
 
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2007-1
   
0.00
 
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2007-2
   
0.00
 
Total Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls
   
0.00
 
         
Released to Transferor
   
17,698,600.55
 
 
Page 3 of 8


GE Dealer Floorplan Master Note Trust
2005-2
Payment Date:
4/21/2008
 
Collection Period Ended:
3/31/2008
 
Closing Date:
5/5/2005
 
Next Payment Date:
5/20/2008
 
Expected Principal Payment Date:
9/22/2008
 
Final Maturity Date:
9/20/2010
 
 
(b)
Revolving Period
 
 
Principal Collections Allocated to Series According to 4.3(b)(ii)(x) of Indenture Supplement
173,539,607.90
 
Available Principal Collections Treated as Shared Principal Collections Applied According to Section 8.5 of Indenture
174,061,722.89
     
(c)
Controlled Accumulation Period
 
 
Principal Collections Allocated to Series According to 4.3(b)(ii)(y) of Indenture Supplement
0.00
 
Available Principal Collections Treated as Shared Principal Collections
0.00
 
(i)
Monthly Principal Deposited into the Principal Account
0.00
 
(ii)
Monthly Principal Deposited to Distribution Account and paid to:
 
   
Class A
0.00
   
Class B
0.00
   
Class C
0.00
 
(iii)
Amounts Remaining as Shared Principal Collections Applied According to Section 8.5 of Indenture
0.00
     
 
Early Amortization Period
 
 
Principal Collections Allocated to Series According to 4.3(b)(ii)(z) of Indenture Supplement
0.00
 
(i)
Monthly Principal Deposited into the Principal Account
0.00
 
(ii)
Monthly Principal Deposited to Distribution Account and paid to:
 
   
Class A
0.00
   
Class B
0.00
   
Class C
0.00
 
(iii)
Amounts Remaining as Shared Principal Collections Applied According to Section 8.5 of Indenture
0.00
   
Shared Principal Collections for Principal Sharing Series
 
Aggregate Shared Principal Collections for Principal Sharing Series
1,664,678,951.87
Aggregate Principal Shortfall for Principal Sharing Series
0.00
   
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2005-1
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2005-2
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2006-1
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2006-2
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2006-3
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2006-4
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2007-1
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2007-2
0.00
   
Amount Deposited into the Excess Funding Account
0.00
Released to Transferor
1,664,678,951.87

Page 4 of 8

 
GE Dealer Floorplan Master Note Trust
2005-2
Payment Date:
4/21/2008
 
Collection Period Ended:
3/31/2008
 
Closing Date:
5/5/2005
 
Next Payment Date:
5/20/2008
 
Expected Principal Payment Date:
9/22/2008
 
Final Maturity Date:
9/20/2010
 
 
Reserve Account (Series Level Account)
     
Beginning Reserve Account Amount
   
23,400,000.00
 
Required Reserve Account Amount
       
Required Reserve Account Percentage
   
3.12%
 
Note Principal Balance
   
750,000,000.00
 
Required Reserve Account Amount
   
23,400,000.00
 
         
Reserve Account Deficiency
   
0.00
 
Reserve Account Deposits
   
66,377.58
 
Reserve Account Withdrawals
   
66,377.58
 
Ending Reserve Account Amount
   
23,400,000.00
 
         
Non Principal Account (Series Level Account)
       
Beginning Balance
   
0.00
 
Deposits
   
1,718,004.00
 
Disbursements
   
1,718,004.00
 
Ending Balance
   
0.00
 
         
Principal Account (Series Level Account)
       
Beginning Balance
   
0.00
 
Deposits
   
0.00
 
Disbursements
   
0.00
 
Ending Balance
   
0.00
 
         
Free Equity Amount
       
Note Trust Principal Balance
   
9,098,731,934.87
 
Aggregate Collateral Amount for all Series of Notes
   
8,250,000,000.00
 
Free Equity Amount
   
848,731,934.87
 
         
Minimum Free Equity Percentage
   
0.00%
 
Outstanding Principal Balance
   
8,250,000,000.00
 
Total Overconcentration
   
0.00
 
Minimum Free Equity Amount
   
0.00
 
         
Excess Funding Account (Trust Level Account)
       
Beginning Balance
   
0.00
 
Deposits
   
0.00
 
Disbursements
   
0.00
 
Ending Balance
   
0.00
 


Page 5 of 8


GE Dealer Floorplan Master Note Trust
2005-2
Payment Date:
4/21/2008
 
Collection Period Ended:
3/31/2008
 
Closing Date:
5/5/2005
 
Next Payment Date:
5/20/2008
 
Expected Principal Payment Date:
9/22/2008
 
Final Maturity Date:
9/20/2010
 
 
Summary of Allocation of Collections
       
Total Principal Collections
   
2,080,781,560.26
 
         
Principal Collections Allocated to Series 2005-1
   
289,232,679.84
 
Principal Collections Allocated to Series 2005-2
   
173,539,607.89
 
Principal Collections Allocated to Series 2006-1
   
347,079,215.80
 
Principal Collections Allocated to Series 2006-2
   
115,693,071.93
 
Principal Collections Allocated to Series 2006-3
   
231,386,143.87
 
Principal Collections Allocated to Series 2006-4
   
289,232,679.84
 
Principal Collections Allocated to Series 2007-1
   
231,386,143.87
 
Principal Collections Allocated to Series 2007-2
   
231,386,143.87
 
Principal Collections Not Allocated to Any Series and Released to Transferor
   
171,845,873.35
 
         
Total Non Principal Collections
   
61,080,951.48
 
         
Non Principal Collections Allocated to Series 2005-1
   
8,490,370.94
 
Non Principal Collections Allocated to Series 2005-2
   
5,094,222.55
 
Non Principal Collections Allocated to Series 2006-1
   
10,188,445.12
 
Non Principal Collections Allocated to Series 2006-2
   
3,396,148.37
 
Non Principal Collections Allocated to Series 2006-3
   
6,792,296.75
 
Non Principal Collections Allocated to Series 2006-4
   
8,490,370.94
 
Non Principal Collections Allocated to Series 2007-1
   
6,792,296.75
 
Non Principal Collections Allocated to Series 2007-2
   
6,792,296.75
 
         
Non Principal Collections Not Allocated to Any Series and Released to Transferor
   
5,044,503.31
 
 
Page 6 of 8


GE Dealer Floorplan Master Note Trust
2005-2
Payment Date:
4/21/2008
 
Collection Period Ended:
3/31/2008
 
Closing Date:
5/5/2005
 
Next Payment Date:
5/20/2008
 
Expected Principal Payment Date:
9/22/2008
 
Final Maturity Date:
9/20/2010
 
 
Performance
     
(1) Are there any material modifications, extensions, or waivers to pool assets?
 
No
     
(2) Are there any material breaches of pool of assets representations and warranties or covenants?
 
No
     
(3) Are there any changes in criteria used to originate, acquire, or select new pool assets?
 
No
     
(4) Has the master servicer made any Servicer Advances during the previous collection period?
 
No
     
(5) Has an early amortization event occurred?
 
No
     
(6) Have any Payment Rate Triggers been met?
 
No
Average Monthly Payment Rates < 18%
       
Current Monthly Payment Rate
 
23.14%
   
Prior Monthly Payment Rate
 
20.89%
   
Second Prior Monthly Payment Rate
 
22.16%
   
3 Month Average Monthly Payment Rate
 
22.06%
   
     
(7) Reserve Account balance < Reserve Account trigger
 
No
Reserve Account balance
 
23,400,000.00
   
(A) Required Reserve Account Percentage minus 0.25%
 
2.87
   
times (B) Note Principal Balance
 
750,000,000.00
   
Reserve Account trigger
 
21,525,000.00
   
     
(8) The sum of all investments held in trust accounts of the Issuer > 50% of the assets of the Issuer
 
No
Current Month
16.14%
     
Prior Month
13.55%
     
Second Prior Month
10.90%
     
Third Prior Month
8.23%
     
Fourth Prior Month
5.48%
     
Fifth Prior Month
2.58%
     
     
(9) Have any new series been issued during the related monthly collection period?
 
No
     
(10) Have any account additions or account removals occurred during the related monthly collection period?
 
No
Number of accounts added / (removed)
   

Page 7 of 8

 
GE Dealer Floorplan Master Note Trust
2005-2
Payment Date:
4/21/2008
 
Collection Period Ended:
3/31/2008
 
Closing Date:
5/5/2005
 
Next Payment Date:
5/20/2008
 
Expected Principal Payment Date:
9/22/2008
 
Final Maturity Date:
9/20/2010
 

Delinquency
         
           
Days Outstanding
 
Amount
(Dollars in Millions)
 
Percentage of Total
Receivables Outstanding
 
31 - 60
 
4.5
 
0.05%
 
61 - 90
 
2.7
 
0.03%
 
91 - 120
 
2.1
 
0.02%
 
121 - 150
 
2.0
 
0.02%
 
151 - 180
 
0.8
 
0.01%
 
*Total
 
12.1
 
0.13%
 
           
*Figures may not foot due to rounding
 


Page 8 of 8

 
EX-99.3 4 v111397_ex99-3.htm Unassociated Document
GE Dealer Floorplan Master Note Trust
2006-1
Payment Date:
4/21/2008
 
Collection Period Ended:
3/31/2008
 
Closing Date:
06/30/2006
 
Next Payment Date:
5/20/2008
 
Expected Principal Payment Date:
4/20/2009
 
Final Maturity Date:
4/20/2011
 

Note Payment Detail

Class
CUSIP
Interest Rate
Original Face
Value
Beginning
Class Balance
Principal
Payment
Amount
Interest
Payment
Amount
Total
Ending
Class Balance
A
36159LAN6
2.54563%
1,432,500,000.00
1,432,500,000.00
0.00
3,241,435.53
3,241,435.53
1,432,500,000.00
B
36159LAP1
2.70563%
52,500,000.00
52,500,000.00
0.00
126,262.73
126,262.73
52,500,000.00
C
36159LAQ9
2.90563%
15,000,000.00
15,000,000.00
0.00
38,741.73
38,741.73
15,000,000.00
TOTALS
   
1,500,000,000.00
1,500,000,000.00
0.00
3,406,439.99
3,406,439.99
1,500,000,000.00

Beginning of Month Balance
         
8,992,680,051.92
New Volume
         
2,193,093,727.33
Principal Collections
         
2,080,781,560.26
Defaulted Amount
         
6,260,284.12
End of Month Balance
         
9,098,731,934.87
             
Annualized Yield
         
7.82%
             
Overconcentrations
           
Are there any Dealer Overconcentrations?
No
       
0.00
           
Are there any Manufacturer Overconcentrations?
No
       
0.00
           
Are there any Product Line Overconcentrations?
No
       
0.00
           
             
Collections
 
Total
 
Overconcentration
   
Principal Collections
 
2,080,781,560.26
 
0.00
 
2,080,781,560.26
Non Principal Collections
 
61,080,951.48
 
0.00
 
61,080,951.48
Total Collections
 
2,141,862,511.74
 
0.00
 
2,141,862,511.74
Defaults
           
Default Amount
 
6,260,284.12
 
0.00
 
6,260,284.12
Series Allocation Percentage
         
16.68%
Investor Default Amount
         
1,044,229.99
Charge-offs
           
Investor Charge-offs
         
0.00
 
Page 1 of 8


GE Dealer Floorplan Master Note Trust
2006-1
Payment Date:
4/21/2008
 
Collection Period Ended:
3/31/2008
 
Closing Date:
06/30/2006
 
Next Payment Date:
5/20/2008
 
Expected Principal Payment Date:
4/20/2009
 
Final Maturity Date:
4/20/2011
 
 
Allocation of Available Non Principal Collections    
Series Allocation Percentage
16.68%
 
Available Non Principal Collections Allocated to Series
 
10,188,445.12
Application of Available Non Principal Collections and Available Principal Collections    
       
(a)
Available Non Principal Collections Allocated to Series
 
10,188,445.12
           
 
(i)
(A)
Amount to Indenture Trustee
 
0.00
   
(B)
Amount to Trustee
 
0.00
   
(C)
Amount to Administrator
 
62.50
   
(D)
Amount to Custodian
 
0.00
         
 
(ii)
Noteholder Servicing Fee
 
2,500,000.00
   
Unpaid Servicer Advances and interest thereon
 
0.00
 
(iii)
Class A Monthly Interest
 
3,241,435.53
 
(iv)
Class B Monthly Interest
 
126,262.73
 
(v)
Class C Monthly Interest
 
38,741.73
         
 
(vi)
Investor Default Amount (treated as Available Principal Collections)
 
1,044,229.99
       
 
(vii)
Investor Charge-offs
0.00
 
   
Reimbursement of Investor Charge-offs
0.00
 
   
Unreimbursed Investor Charge-offs
0.00
 
   
Reallocation Principal Collections
0.00
 
   
Reimbursement of Reallocated Principal Collections
0.00
 
   
Unreimbursed Reallocated Principal Collections
0.00
 
   
Sum of Unreimbursed Investor Charge-offs and Reallocated Principal Collections
 
0.00
         
 
(viii)
Amount Required to be Deposited to the Reserve Account
 
0.00
         
 
(ix)
Remaining Amounts due to:
   
   
Indenture Trustee
 
0.00
   
Trustee
 
0.00
   
Administrator
 
0.00
   
Custodian
 
0.00
         
 
(x)
Amounts otherwise required to be Deposited to Principal Account
 
0.00
 
Page 2 of 8


GE Dealer Floorplan Master Note Trust
2006-1
Payment Date:
4/21/2008
 
Collection Period Ended:
3/31/2008
 
Closing Date:
06/30/2006
 
Next Payment Date:
5/20/2008
 
Expected Principal Payment Date:
4/20/2009
 
Final Maturity Date:
4/20/2011
 
 
Excess Non Principal Collections for Series 2005-1
   
2,660,060.34
 
Excess Non Principal Collections for Series 2005-2
   
1,604,041.07
 
Excess Non Principal Collections for Series 2006-1
   
3,237,712.64
 
Excess Non Principal Collections for Series 2006-2
   
1,052,373.65
 
Excess Non Principal Collections for Series 2006-3
   
2,158,632.03
 
Excess Non Principal Collections for Series 2006-4
   
2,700,250.11
 
Excess Non Principal Collections for Series 2007-1
   
2,132,854.24
 
Excess Non Principal Collections for Series 2007-2
   
2,152,676.47
 
         
Total Excess Non Principal Collections
   
17,698,600.55
 
         
Non Principal Shortfalls for Series 2005-1
   
0.00
 
Non Principal Shortfalls for Series 2005-2
   
0.00
 
Non Principal Shortfalls for Series 2006-1
   
0.00
 
Non Principal Shortfalls for Series 2006-2
   
0.00
 
Non Principal Shortfalls for Series 2006-3
   
0.00
 
Non Principal Shortfalls for Series 2006-4
   
0.00
 
Non Principal Shortfalls for Series 2007-1
   
0.00
 
Non Principal Shortfalls for Series 2007-2
   
0.00
 
Total Non Principal Shortfalls
   
0.00
 
         
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2005-1
   
0.00
 
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2005-2
   
0.00
 
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2006-1
   
0.00
 
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2006-2
   
0.00
 
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2006-3
   
0.00
 
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2006-4
   
0.00
 
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2007-1
   
0.00
 
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2007-2
   
0.00
 
Total Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls
   
0.00
 
         
Released to Transferor
   
17,698,600.55
 
 
Page 3 of 8


GE Dealer Floorplan Master Note Trust
2006-1
Payment Date:
4/21/2008
 
Collection Period Ended:
3/31/2008
 
Closing Date:
06/30/2006
 
Next Payment Date:
5/20/2008
 
Expected Principal Payment Date:
4/20/2009
 
Final Maturity Date:
4/20/2011
 
 
(b)
Revolving Period
 
 
Principal Collections Allocated to Series According to 4.3(b)(ii)(x) of Indenture Supplement
347,079,215.80
 
Available Principal Collections Treated as Shared Principal Collections Applied According to Section 8.5 of Indenture
348,123,445.79
     
(c)
Controlled Accumulation Period
 
 
Principal Collections Allocated to Series According to 4.3(b)(ii)(y) of Indenture Supplement
0.00
 
Available Principal Collections Treated as Shared Principal Collections
0.00
 
(i)
Monthly Principal Deposited into the Principal Account
0.00
 
(ii)
Monthly Principal Deposited to Distribution Account and paid to:
 
   
Class A
0.00
   
Class B
0.00
   
Class C
0.00
 
(iii)
Amounts Remaining as Shared Principal Collections Applied According to Section 8.5 of Indenture
0.00
     
 
Early Amortization Period
 
 
Principal Collections Allocated to Series According to 4.3(b)(ii)(z) of Indenture Supplement
0.00
 
(i)
Monthly Principal Deposited into the Principal Account
0.00
 
(ii)
Monthly Principal Deposited to Distribution Account and paid to:
 
   
Class A
0.00
   
Class B
0.00
   
Class C
0.00
 
(iii)
Amounts Remaining as Shared Principal Collections Applied According to Section 8.5 of Indenture
0.00
   
Shared Principal Collections for Principal Sharing Series
 
Aggregate Shared Principal Collections for Principal Sharing Series
1,664,678,951.87
Aggregate Principal Shortfall for Principal Sharing Series
0.00
   
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2005-1
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2005-2
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2006-1
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2006-2
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2006-3
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2006-4
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2007-1
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2007-2
0.00
   
Amount Deposited into the Excess Funding Account
0.00
Released to Transferor
1,664,678,951.87
 
Page 4 of 8


GE Dealer Floorplan Master Note Trust
2006-1
Payment Date:
4/21/2008
 
Collection Period Ended:
3/31/2008
 
Closing Date:
06/30/2006
 
Next Payment Date:
5/20/2008
 
Expected Principal Payment Date:
4/20/2009
 
Final Maturity Date:
4/20/2011
 
 
Reserve Account (Series Level Account)
       
Beginning Reserve Account Amount
   
37,500,000.00
 
Required Reserve Account Amount
       
Required Reserve Account Percentage
   
2.50%
 
Note Principal Balance
   
1,500,000,000.00
 
Required Reserve Account Amount
   
37,500,000.00
 
         
Reserve Account Deficiency
   
0.00
 
Reserve Account Deposits
   
106,437.66
 
Reserve Account Withdrawals
   
106,437.66
 
Ending Reserve Account Amount
   
37,500,000.00
 
         
Non Principal Account (Series Level Account)
       
Beginning Balance
   
0.00
 
Deposits
   
3,406,439.99
 
Disbursements
   
3,406,439.99
 
Ending Balance
   
0.00
 
         
Principal Account (Series Level Account)
       
Beginning Balance
   
0.00
 
Deposits
   
0.00
 
Disbursements
   
0.00
 
Ending Balance
   
0.00
 
         
Free Equity Amount
       
Note Trust Principal Balance
   
9,098,731,934.87
 
Aggregate Collateral Amount for all Series of Notes
   
8,250,000,000.00
 
Free Equity Amount
   
848,731,934.87
 
         
Minimum Free Equity Percentage
   
0.00%
 
Outstanding Principal Balance
   
8,250,000,000.00
 
Total Overconcentration
   
0.00
 
Minimum Free Equity Amount
   
0.00
 
         
Excess Funding Account (Trust Level Account)
       
Beginning Balance
   
0.00
 
Deposits
   
0.00
 
Disbursements
   
0.00
 
Ending Balance
   
0.00
 


Page 5 of 8


GE Dealer Floorplan Master Note Trust
2006-1
Payment Date:
4/21/2008
 
Collection Period Ended:
3/31/2008
 
Closing Date:
06/30/2006
 
Next Payment Date:
5/20/2008
 
Expected Principal Payment Date:
4/20/2009
 
Final Maturity Date:
4/20/2011
 



Summary of Allocation of Collections
       
         
Total Principal Collections
   
2,080,781,560.26
 
         
Principal Collections Allocated to Series 2005-1
   
289,232,679.84
 
Principal Collections Allocated to Series 2005-2
   
173,539,607.89
 
Principal Collections Allocated to Series 2006-1
   
347,079,215.80
 
Principal Collections Allocated to Series 2006-2
   
115,693,071.93
 
Principal Collections Allocated to Series 2006-3
   
231,386,143.87
 
Principal Collections Allocated to Series 2006-4
   
289,232,679.84
 
Principal Collections Allocated to Series 2007-1
   
231,386,143.87
 
Principal Collections Allocated to Series 2007-2
   
231,386,143.87
 
Principal Collections Not Allocated to Any Series and Released to Transferor
   
171,845,873.35
 
         
Total Non Principal Collections
   
61,080,951.48
 
         
Non Principal Collections Allocated to Series 2005-1
   
8,490,370.94
 
Non Principal Collections Allocated to Series 2005-2
   
5,094,222.55
 
Non Principal Collections Allocated to Series 2006-1
   
10,188,445.12
 
Non Principal Collections Allocated to Series 2006-2
   
3,396,148.37
 
Non Principal Collections Allocated to Series 2006-3
   
6,792,296.75
 
Non Principal Collections Allocated to Series 2006-4
   
8,490,370.94
 
Non Principal Collections Allocated to Series 2007-1
   
6,792,296.75
 
Non Principal Collections Allocated to Series 2007-2
   
6,792,296.75
 
         
Non Principal Collections Not Allocated to Any Series and Released to Transferor
   
5,044,503.31
 
 
Page 6 of 8



GE Dealer Floorplan Master Note Trust
2006-1
Payment Date:
4/21/2008
 
Collection Period Ended:
3/31/2008
 
Closing Date:
06/30/2006
 
Next Payment Date:
5/20/2008
 
Expected Principal Payment Date:
4/20/2009
 
Final Maturity Date:
4/20/2011
 
 
Performance
       
         
(1) Are there any material modifications, extensions, or waivers to pool assets?
 
No
         
(2) Are there any material breaches of pool of assets representations and warranties or covenants?
 
No
         
(3) Are there any changes in criteria used to originate, acquire, or select new pool assets?
 
No
         
(4) Has the master servicer made any Servicer Advances during the previous collection period?
 
No
         
(5) Has an early amortization event occurred?
 
No
         
(6) Have any Payment Rate Triggers been met?
 
No
Average Monthly Payment Rates < 18%
       
Current Monthly Payment Rate
 
23.14%
   
Prior Monthly Payment Rate
 
20.89%
   
Second Prior Monthly Payment Rate
 
22.16%
   
3 Month Average Monthly Payment Rate
 
22.06%
   
         
(7) Reserve Account balance < Reserve Account trigger
 
No
Reserve Account balance
 
37,500,000.00
   
(A) Required Reserve Account Percentage minus 0.25%
 
2.25
   
times (B) Note Principal Balance
 
1,500,000,000.00
   
Reserve Account trigger
 
33,750,000.00
   
         
(8) The sum of all investments held in trust accounts of the Issuer > 50% of the assets of the Issuer
 
No
         
Current Month
16.14%
     
Prior Month
13.55%
     
Second Prior Month
10.90%
     
Third Prior Month
8.23%
     
Fourth Prior Month
5.48%
     
Fifth Prior Month
2.58%
     
         
(9) Have any new series been issued during the related monthly collection period?
 
No
         
(10) Have any account additions or account removals occurred during the related monthly collection period?
 
No
Number of accounts added / (removed)
   
 
Page 7 of 8


GE Dealer Floorplan Master Note Trust
2006-1
Payment Date:
4/21/2008
 
Collection Period Ended:
3/31/2008
 
Closing Date:
06/30/2006
 
Next Payment Date:
5/20/2008
 
Expected Principal Payment Date:
4/20/2009
 
Final Maturity Date:
4/20/2011
 
 
Delinquency
         
           
Days Outstanding
 
Amount
(Dollars in Millions)
 
Percentage of Total
Receivables Outstanding
 
31 - 60
 
4.5
 
0.05%
 
61 - 90
 
2.7
 
0.03%
 
91 - 120
 
2.1
 
0.02%
 
121 - 150
 
2.0
 
0.02%
 
151 - 180
 
0.8
 
0.01%
 
*Total
 
12.1
 
0.13%
 
*Figures may not foot due to rounding
 
 
 
 
Page 8 of 8

 
EX-99.4 5 v111397_ex99-4.htm Unassociated Document
GE Dealer Floorplan Master Note Trust
2006-2
Payment Date:
4/21/2008
 
Collection Period Ended:
3/31/2008
 
Closing Date:
06/30/2006
 
Next Payment Date:
5/20/2008
 
Expected Principal Payment Date:
4/20/2011
 
Final Maturity Date:
4/22/2013
 

Note Payment Detail

Class
CUSIP
Interest Rate
Original Face
Value
Beginning
Class Balance
Principal
Payment
Amount
Interest
Payment
Amount
Total
Ending
Class Balance
A
36159LAR7
2.60563%
477,500,000.00
477,500,000.00
0.00
1,105,945.18
1,105,945.18
477,500,000.00
B
36159LAS5
2.77563%
17,500,000.00
17,500,000.00
0.00
43,176.47
43,176.47
17,500,000.00
C
36159LAT3
2.96563%
5,000,000.00
5,000,000.00
0.00
13,180.58
13,180.58
5,000,000.00
TOTALS
   
500,000,000.00
500,000,000.00
0.00
1,162,302.23
1,162,302.23
500,000,000.00

Beginning of Month Balance
         
8,992,680,051.92
New Volume
         
2,193,093,727.33
Principal Collections
         
2,080,781,560.26
Defaulted Amount
         
6,260,284.12
End of Month Balance
         
9,098,731,934.87
             
Annualized Yield
         
7.82%
Overconcentrations
           
Are there any Dealer Overconcentrations?
No
       
0.00
           
Are there any Manufacturer Overconcentrations?
No
       
0.00
           
Are there any Product Line Overconcentrations?
No
       
0.00
           
Collections
 
Total
 
Overconcentration
   
Principal Collections
 
2,080,781,560.26
 
0.00
 
2,080,781,560.26
Non Principal Collections
 
61,080,951.48
 
0.00
 
61,080,951.48
Total Collections
 
2,141,862,511.74
 
0.00
 
2,141,862,511.74
Defaults
           
Default Amount
 
6,260,284.12
 
0.00
 
6,260,284.12
Series Allocation Percentage
         
5.56%
Investor Default Amount
         
348,076.66
Charge-offs
           
Investor Charge-offs
         
0.00
 
Page 1 of 8


GE Dealer Floorplan Master Note Trust
2006-2
Payment Date:
4/21/2008
 
Collection Period Ended:
3/31/2008
 
Closing Date:
06/30/2006
 
Next Payment Date:
5/20/2008
 
Expected Principal Payment Date:
4/20/2011
 
Final Maturity Date:
4/22/2013
 
 
Allocation of Available Non Principal Collections    
Series Allocation Percentage
5.56%
 
Available Non Principal Collections Allocated to Series
 
3,396,148.37
Application of Available Non Principal Collections and Available Principal Collections    
       
(a)
Available Non Principal Collections Allocated to Series
 
3,396,148.37
 
(i)
(A)
Amount to Indenture Trustee
 
0.00
   
(B)
Amount to Trustee
 
0.00
   
(C)
Amount to Administrator
 
62.50
   
(D)
Amount to Custodian
 
0.00
         
 
(ii)
Noteholder Servicing Fee
 
833,333.33
   
Unpaid Servicer Advances and interest thereon
 
0.00
         
 
(iii)
Class A Monthly Interest
 
1,105,945.18
 
(iv)
Class B Monthly Interest
 
43,176.47
 
(v)
Class C Monthly Interest
 
13,180.58
         
 
(vi)
Investor Default Amount (treated as Available Principal Collections)
 
348,076.66
         
 
(vii)
Investor Charge-offs
0.00
 
   
Reimbursement of Investor Charge-offs
0.00
 
   
Unreimbursed Investor Charge-offs
0.00
 
   
Reallocation Principal Collections
0.00
 
   
Reimbursement of Reallocated Principal Collections
0.00
 
   
Unreimbursed Reallocated Principal Collections
0.00
 
   
Sum of Unreimbursed Investor Charge-offs and Reallocated Principal Collections
 
0.00
         
 
(viii)
Amount Required to be Deposited to the Reserve Account
 
0.00
         
 
(ix)
Remaining Amounts due to:
   
   
Indenture Trustee
 
0.00
   
Trustee
 
0.00
   
Administrator
 
0.00
   
Custodian
 
0.00
         
 
(x)
Amounts otherwise required to be Deposited to Principal Account
 
0.00
 
Page 2 of 8


GE Dealer Floorplan Master Note Trust
2006-2
Payment Date:
4/21/2008
 
Collection Period Ended:
3/31/2008
 
Closing Date:
06/30/2006
 
Next Payment Date:
5/20/2008
 
Expected Principal Payment Date: