GE Dealer Floorplan Master Note Trust, Series 2006-3 (PDF, 51.1 KB)

GE Dealer Floorplan Master Note Trust
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
2006-3
7/20/2009
6/30/2009
08/10/2006
8/20/2009
7/20/2009
7/20/2011
Note Payment Detail
Class
CUSIP
A
36159LAU0
Interest Rate
Original Face
Value
Beginning
Class Balance
Principal
Payment
Amount
Interest
Payment
Amount
Ending
Class Balance
Total
0.32500%
955,000,000.00
955,000,000.00
955,000,000.00
241,402.78
955,241,402.78
0.00
B
36159LAV8
0.48500%
35,000,000.00
35,000,000.00
35,000,000.00
13,202.78
35,013,202.78
0.00
C
36159LAW6
0.66500%
10,000,000.00
10,000,000.00
10,000,000.00
5,172.22
10,005,172.22
0.00
1,000,000,000.00
1,000,000,000.00
1,000,000,000.00
259,777.78
1,000,259,777.78
0.00
TOTALS
Beginning of Month Balance
New Volume
Principal Collections
Defaulted Amount
6,859,813,933.59
2,163,367,757.62
2,151,002,554.24
7,359,843.94
End of Month Balance
6,864,819,293.03
9.15%
Annualized Yield
Overconcentrations
Are there any Dealer Overconcentrations?
0.00
Are there any Manufacturer Overconcentrations?
0.00
Are there any Product Line Overconcentrations?
0.00
Discount Factor
Collections
Principal Collections
Non Principal Collections
Total Collections
No
No
No
0.0%
Total
2,151,002,554.24
53,432,902.62
2,204,435,456.86
Overconcentration
0.00
0.00
0.00
2,151,002,554.24
53,432,902.62
2,204,435,456.86
Defaults
Default Amount
Series Allocation Percentage
Investor Default Amount
Charge-offs
Investor Charge-offs
7,359,843.94
0.00
7,359,843.94
14.58%
1,072,892.65
0.00
Page 1 of 8
GE Dealer Floorplan Master Note Trust
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
7/20/2009
6/30/2009
08/10/2006
8/20/2009
7/20/2009
7/20/2011
2006-3
Allocation of Available Non Principal Collections
Series Allocation Percentage
Available Non Principal Collections Allocated to Series
Application of Available Non Principal Collections and Available Principal Collections
14.58%
7,789,264.13
(a) Available Non Principal Collections Allocated to Series
(i)
7,789,264.13
(A) Amount to Indenture Trustee
(B) Amount to Trustee
(C) Amount to Administrator
0.00
0.00
62.50
(D) Amount to Custodian
0.00
(ii) Noteholder Servicing Fee
1,666,666.67
Unpaid Servicer Advances and interest thereon
0.00
(iii) Class A Monthly Interest
241,402.78
(iv) Class B Monthly Interest
13,202.78
(v) Class C Monthly Interest
5,172.22
(vi) Investor Default Amount (treated as Available Principal Collections)
(vii) Investor Charge-offs
1,072,892.65
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
Unreimbursed Reallocated Principal Collections
Sum of Unreimbursed Investor Charge-offs and Reallocated Principal Collections
0.00
0.00
(viii) Amount Required to be Deposited to the Reserve Account
0.00
0.00
(ix) Remaining Amounts due to:
Indenture Trustee
0.00
Trustee
0.00
Administrator
Custodian
0.00
0.00
(x) Amounts otherwise required to be Deposited to Principal Account
0.00
Page 2 of 8
GE Dealer Floorplan Master Note Trust
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
7/20/2009
6/30/2009
08/10/2006
8/20/2009
7/20/2009
7/20/2011
2006-3
Excess Non Principal Collections for Series 2006-2
Excess Non Principal Collections for Series 2006-3
Excess Non Principal Collections for Series 2006-4
Excess Non Principal Collections for Series 2007-1
Excess Non Principal Collections for Series 2007-2
Excess Non Principal Collections for Series 2008-A
2,339,537.35
4,789,864.53
5,909,448.72
4,703,332.21
4,722,332.78
Excess Non Principal Collections for Series 2009-A
Excess Non Principal Collections for Series 2009-B
Total Excess Non Principal Collections
1,506,276.86
1,548,111.18
2,533,804.37
28,052,708.00
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
Non Principal Shortfalls for Series 2008-A
0.00
Non Principal Shortfalls for Series 2009-A
0.00
Non Principal Shortfalls for Series 2009-B
0.00
Total Non Principal Shortfalls
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
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2008-A
0.00
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2009-A
0.00
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2009-B
0.00
Total Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls
0.00
Released to Transferor
28,052,708.00
Page 3 of 8
GE Dealer Floorplan Master Note Trust
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
(b)
7/20/2009
6/30/2009
08/10/2006
8/20/2009
7/20/2009
7/20/2011
2006-3
Revolving Period
Principal Collections Allocated to Series According to 4.3(b)(ii)(x) of Indenture Supplement
Available Principal Collections Treated as Shared Principal Collections Applied According to Section 8.5 of Indenture
(c)
0.00
0.00
Controlled Accumulation Period
Principal Collections Allocated to Series According to 4.3(b)(ii)(y) of Indenture Supplement
Available Principal Collections Treated as Shared Principal Collections
(i) Monthly Principal Deposited into the Principal Account
(ii) Monthly Principal Deposited to Distribution Account and paid to:
Class A
Class B
Class C
(iii) Amounts Remaining as Shared Principal Collections Applied According to Section 8.5 of Indenture
Early Amortization Period
Principal Collections Allocated to Series According to 4.3(b)(ii)(z) of Indenture Supplement
(i) Monthly Principal Deposited into the Principal Account
(ii) Monthly Principal Deposited to Distribution Account and paid to:
Class A
Class B
Class C
(iii) Amounts Remaining as Shared Principal Collections Applied According to Section 8.5 of Indenture
Shared Principal Collections for Principal Sharing Series
Aggregate Shared Principal Collections for Principal Sharing Series
Aggregate Principal Shortfall for Principal Sharing Series
313,565,728.61
314,638,621.26
314,638,621.26
955,000,000.00
35,000,000.00
10,000,000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
1,721,378,457.76
685,361,378.74
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2006-2
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2006-3
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2006-4
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2007-1
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2007-2
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2008-A
685,361,378.74
0.00
0.00
0.00
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2009-A
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2009-B
0.00
0.00
Amount Deposited into the Excess Funding Account
0.00
Released to Transferor
0.00
1,036,017,079.02
Page 4 of 8
GE Dealer Floorplan Master Note Trust
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
7/20/2009
6/30/2009
08/10/2006
8/20/2009
7/20/2009
7/20/2011
2006-3
Required Enhancement (Series Level Account)
Required Enhancement Percentage
Note Principal Balance
Required Enhancement Amount
2.50%
1,000,000,000.00
25,000,000.00
Reserve Account Interest Earnings withdrawn
Beginning Reserve Account Amount
Reserve Account Deposits
Reserve Account Withdrawals
Ending Reserve Account Amount
6,523.22
25,000,000.00
0.00
0.00
Funded Enhancement Amount
Total Enhancement Amount
0.00
25,000,000.00
Enhancement Deficiency
25,000,000.00
0.00
Non Principal Account (Series Level Account)
Beginning Balance
Deposits
Disbursements
Ending Balance
Principal Account (Series Level Account)
Beginning Balance
Deposits
Disbursements
Ending Balance
Free Equity Amount
Note Trust Principal Balance
Aggregate Collateral Amount for all Series of Notes and Initial Subordinated Amount
Free Equity Amount
Minimum Free Equity Percentage
Beginning Outstanding Principal Balance
Total Overconcentration
Minimum Free Equity Amount
0.00
259,777.78
259,777.78
0.00
0.00
1,000,000,000.00
1,000,000,000.00
0.00
6,864,819,293.03
6,470,970,000.00
393,849,293.03
0.00%
6,171,070,000.00
0.00
0.00
Page 5 of 8
GE Dealer Floorplan Master Note Trust
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
7/20/2009
6/30/2009
08/10/2006
8/20/2009
7/20/2009
7/20/2011
Excess Funding Account (Trust Level Account)
Beginning Balance
Deposits
Disbursements
Ending Balance
2006-3
0.00
0.00
0.00
0.00
Summary of Allocation of Collections
Total Principal Collections
2,151,002,554.24
Principal Collections Allocated to Series 2006-2
Principal Collections Allocated to Series 2006-3
Principal Collections Allocated to Series 2006-4
Principal Collections Allocated to Series 2007-1
Principal Collections Allocated to Series 2007-2
Principal Collections Allocated to Series 2008-A
Principal Collections Allocated to Series 2009-A
Principal Collections Allocated to Series 2009-B
165,405,921.84
313,565,728.61
413,530,482.90
333,163,586.65
335,515,329.62
259,936,582.05
103,978,395.61
103,978,395.61
Principal Collections Not Allocated to Any Series and Released to Transferor
121,928,131.35
Total Non Principal Collections
Non Principal Collections Allocated to Series 2006-2
53,432,902.62
4,108,836.83
Non Principal Collections Allocated to Series 2006-3
7,789,264.13
Non Principal Collections Allocated to Series 2006-4
10,272,481.54
Non Principal Collections Allocated to Series 2007-1
8,276,093.14
Non Principal Collections Allocated to Series 2007-2
8,334,512.62
Non Principal Collections Allocated to Series 2008-A
6,457,066.29
Non Principal Collections Allocated to Series 2009-A
Non Principal Collections Allocated to Series 2009-B
2,582,919.99
2,582,919.99
Non Principal Collections Not Allocated to Any Series and Released to Transferor
3,028,808.09
Page 6 of 8
GE Dealer Floorplan Master Note Trust
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
2006-3
7/20/2009
6/30/2009
08/10/2006
8/20/2009
7/20/2009
7/20/2011
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
Current Monthly Payment Rate
31.36%
Prior Monthly Payment Rate
28.05%
Second Prior Monthly Payment Rate
25.47%
3 Month Average Monthly Payment Rate
28.29%
(7) Has the Default Rate Trigger been met?
No
Current Monthly Default Rate
1.29%
Prior Monthly Default Rate
1.15%
Second Prior Monthly Default Rate
1.42%
3 Month Average Monthly Default Rate
1.29%
(8) Reserve Account balance < Reserve Account trigger
No
Reserve Account balance
25,000,000.00
(A) Required Reserve Account Percentage minus 0.25%
2.25
times (B) Note Principal Balance
1,000,000,000.00
Reserve Account trigger
22,500,000.00
(9) The sum of all investments held in trust accounts of the Issuer > 50% of the assets of the Issuer
Current Month
Prior Month
Second Prior Month
Third Prior Month
Fourth Prior Month
Fifth Prior Month
No
2.25%
2.02%
2.02%
2.45%
2.45%
2.50%
(10) Have any new series been issued during the related monthly collection period?
Yes
(11) Have any account additions or account removals occurred during the related monthly collection period?
Yes
Number of accounts added / (removed) 1,435
Page 7 of 8
GE Dealer Floorplan Master Note Trust
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
2006-3
7/20/2009
6/30/2009
08/10/2006
8/20/2009
7/20/2009
7/20/2011
Delinquency
Days Outstanding
31 - 60
61 - 90
91 - 120
121 - 150
151 - 180
*Total
Amount
(Dollars in Millions)
Percentage of Total
Receivables Outstanding
9.3
0.14%
5.3
0.08%
4.7
0.07%
3.8
0.06%
2.6
0.04%
25.7
0.37%
*Figures may not foot due to rounding
Page 8 of 8