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