EX-99.3 4 v115779_ex99-3.htm Unassociated Document

 GE Dealer Floorplan Master Note Trust
 2006-2
Payment Date:
5/20/2008
  
Collection Period Ended:
4/30/2008
  
Closing Date:
06/30/2006
  
Next Payment Date:
6/20/2008
  
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
2.87000
%
477,500,000.00
477,500,000.00
0.00
1,103,953.47
1,103,953.47
477,500,000.00
B
36159LAS5
3.04000
%
17,500,000.00
17,500,000.00
0.00
42,855.56
42,855.56
17,500,000.00
C
36159LAT3
3.23000
%
5,000,000.00
5,000,000.00
0.00
13,009.72
13,009.72
5,000,000.00
TOTALS
      
500,000,000.00
500,000,000.00
0.00
1,159,818.75
1,159,818.75
500,000,000.00

Beginning of Month Balance
9,098,731,934.87
New Volume
2,157,185,747.04
Principal Collections
2,342,565,975.05
Defaulted Amount
1,153,386.13
End of Month Balance
8,912,198,320.73
Annualized Yield
8.96%

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
  
2,342,565,975.05
  
0.00
  
2,342,565,975.05
 Non Principal Collections
  
67,417,024.65
  
0.00
  
67,417,024.65
 Total Collections
  
2,409,982,999.70
  
0.00
  
2,409,982,999.70
 Defaults
            
 Default Amount
  
1,153,386.13
  
0.00
  
1,153,386.13
 Series Allocation Percentage
          
5.50%
 Investor Default Amount
          
63,381.70
 Charge-offs
            
 Investor Charge-offs
          
0.00



Page 1 of 8


 GE Dealer Floorplan Master Note Trust
 2006-2
Payment Date:
5/20/2008
  
Collection Period Ended:
4/30/2008
  
Closing Date:
06/30/2006
  
Next Payment Date:
6/20/2008
  
Expected Principal Payment Date:
4/20/2011
  
Final Maturity Date:
4/22/2013
  
 
Allocation of Available Non Principal Collections
      
 
 Series Allocation Percentage
5.50
%
  
 
 Available Non Principal Collections Allocated to Series
    
3,704,748.37
Application of Available Non Principal Collections and Available Principal Collections
      
       
 (a)
Available Non Principal Collections Allocated to Series
    
3,704,748.37
         
 
 (i)
 (A)
Amount to Indenture Trustee
    
0.00
   
 (B)
Amount to Trustee
    
0.00
   
 (C)
Amount to Administrator
    
71.43
   
 (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
    
1,103,953.47
 
 (iv)
Class B Monthly Interest
    
42,855.56
 
 (v)
Class C Monthly Interest
    
13,009.72
           
 
 (vi)
Investor Default Amount (treated as Available Principal Collections)
    
63,381.70
           
 
 (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:
5/20/2008
  
Collection Period Ended:
4/30/2008
  
Closing Date:
06/30/2006
  
Next Payment Date:
6/20/2008
  
Expected Principal Payment Date:
4/20/2011
  
Final Maturity Date:
4/22/2013
  
 
Excess Non Principal Collections for Series 2005-1
0.00
Excess Non Principal Collections for Series 2005-2
2,495,313.92
Excess Non Principal Collections for Series 2006-1
5,017,495.26
Excess Non Principal Collections for Series 2006-2
1,648,143.16
Excess Non Principal Collections for Series 2006-3
3,345,134.14
Excess Non Principal Collections for Series 2006-4
4,183,197.70
Excess Non Principal Collections for Series 2007-1
3,321,773.03
Excess Non Principal Collections for Series 2007-2
3,339,736.91
 
 
Total Excess Non Principal Collections
23,350,794.12
   
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
23,350,794.12



Page 3 of 8


 GE Dealer Floorplan Master Note Trust
 2006-2
Payment Date:
5/20/2008
  
Collection Period Ended:
4/30/2008
  
Closing Date:
06/30/2006
  
Next Payment Date:
6/20/2008
  
Expected Principal Payment Date:
4/20/2011
  
Final Maturity Date:
4/22/2013
  
 
(b)
 Revolving Period
  
 
 Principal Collections Allocated to Series According to 4.3(b)(ii)(x) of Indenture Supplement
128,730,354.51
 
 Available Principal Collections Treated as Shared Principal Collections Applied According to Section 8.5 of Indenture
128,793,736.21
     
(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
1,803,112,306.82
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
1,803,112,306.82


Page 4 of 8


 GE Dealer Floorplan Master Note Trust
 2006-2
Payment Date:
5/20/2008
  
Collection Period Ended:
4/30/2008
  
Closing Date:
06/30/2006
  
Next Payment Date:
6/20/2008
  
Expected Principal Payment Date:
4/20/2011
  
Final Maturity Date:
4/22/2013
  
 
Reserve Account (Series Level Account)
  
Beginning Reserve Account Amount
12,500,000.00
Required Reserve Account Amount
  
Required Reserve Account Percentage
2.50%
Note Principal Balance
500,000,000.00
Required Reserve Account Amount
12,500,000.00
   
Reserve Account Deficiency
0.00
Reserve Account Deposits
30,029.94
Reserve Account Withdrawals
30,029.94
Ending Reserve Account Amount
12,500,000.00
   
Non Principal Account (Series Level Account)
  
Beginning Balance
0.00
Deposits
1,159,818.75
Disbursements
1,159,818.75
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
8,912,198,320.73
Aggregate Collateral Amount for all Series of Notes
7,000,000,000.00
Free Equity Amount
1,912,198,320.73
 
  
Minimum Free Equity Percentage
0.00%
Outstanding Principal Balance
7,000,000,000.00
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
 2006-2
Payment Date:
5/20/2008
  
Collection Period Ended:
4/30/2008
  
Closing Date:
06/30/2006
  
Next Payment Date:
6/20/2008
  
Expected Principal Payment Date:
4/20/2011
  
Final Maturity Date:
4/22/2013
  
 
Summary of Allocation of Collections
  
   
 Total Principal Collections
2,342,565,975.05
   
 Principal Collections Allocated to Series 2005-1
0.00
 Principal Collections Allocated to Series 2005-2
193,095,531.75
 Principal Collections Allocated to Series 2006-1
386,191,063.52
 Principal Collections Allocated to Series 2006-2
128,730,354.51
 Principal Collections Allocated to Series 2006-3
257,460,709.01
 Principal Collections Allocated to Series 2006-4
321,825,886.26
 Principal Collections Allocated to Series 2007-1
257,460,709.01
 Principal Collections Allocated to Series 2007-2
257,460,709.01
 Principal Collections Not Allocated to Any Series and Released to Transferor
540,341,011.98
   
 Total Non Principal Collections
67,417,024.65
   
 Non Principal Collections Allocated to Series 2005-1
0.00
 Non Principal Collections Allocated to Series 2005-2
5,557,122.55
 Non Principal Collections Allocated to Series 2006-1
11,114,245.12
 Non Principal Collections Allocated to Series 2006-2
3,704,748.37
 Non Principal Collections Allocated to Series 2006-3
7,409,496.74
 Non Principal Collections Allocated to Series 2006-4
9,261,870.93
 Non Principal Collections Allocated to Series 2007-1
7,409,496.74
 Non Principal Collections Allocated to Series 2007-2
7,409,496.74
 
 
 Non Principal Collections Not Allocated to Any Series and Released to Transferor
15,550,547.46



Page 6 of 8


 GE Dealer Floorplan Master Note Trust
 2006-2
Payment Date:
5/20/2008
  
Collection Period Ended:
4/30/2008
  
Closing Date:
06/30/2006
  
Next Payment Date:
6/20/2008
  
Expected Principal Payment Date:
4/20/2011
  
Final Maturity Date:
4/22/2013
  
 
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 < 20%
      
Current Monthly Payment Rate
25.75%
    
Prior Monthly Payment Rate
23.14%
    
Second Prior Monthly Payment Rate
20.89%
    
3 Month Average Monthly Payment Rate
23.26%
    
       
(7) Reserve Account balance < Reserve Account trigger
    
No
Reserve Account balance
12,500,000.00
    
(A) Required Reserve Account Percentage minus 0.25%
2.25
    
times (B) Note Principal Balance
500,000,000.00
    
Reserve Account trigger
11,250,000.00
    
       
(8) The sum of all investments held in trust accounts of the Issuer > 50% of the assets of the Issuer
  
No
Current Month
2.02%
    
Prior Month
16.14%
    
Second Prior Month
13.55%
    
Third Prior Month
10.90%
    
Fourth Prior Month
8.23%
    
Fifth Prior Month
5.48%
    
       
(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
 2006-2
Payment Date:
5/20/2008
  
Collection Period Ended:
4/30/2008
  
Closing Date:
06/30/2006
  
Next Payment Date:
6/20/2008
  
Expected Principal Payment Date:
4/20/2011
  
Final Maturity Date:
4/22/2013
  
 
Delinquency
          
   
Amount
  
Percentage of Total
  
Days Outstanding
  
(Dollars in Millions)
  
Receivables Outstanding
  
31 - 60
  
4.8
  
0.05%
 
61 - 90
  
2.6
  
0.03%
 
91 - 120
  
2.5
  
0.03%
 
121 - 150
  
1.9
  
0.02%
 
151 - 180
  
1.3
  
0.02%
 
           
*Total
  
13.1
  
0.15%
 
           
*Figures may not foot due to rounding
      


Page 8 of 8