GE Dealer Floorplan Master Note Trust, Series 2006-3 (PDF, 50.1 KB)

GE Dealer Floorplan Master Note Trust
2006-3
11/20/2008
10/31/2008
08/10/2006
12/22/2008
7/20/2009
7/20/2011
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
Note Payment Detail
Original Face
Value
Beginning
Class Balance
Principal
Payment
Amount
Interest
Payment
Amount
Total
Ending
Class Balance
Class
CUSIP
A
36159LAU0
4.28750%
955,000,000.00
955,000,000.00
0.00
3,525,873.26
3,525,873.26
955,000,000.00
B
36159LAV8
4.44750%
35,000,000.00
35,000,000.00
0.00
134,042.71
134,042.71
35,000,000.00
C
36159LAW6
4.62750%
10,000,000.00
10,000,000.00
0.00
39,847.92
39,847.92
10,000,000.00
1,000,000,000.00
1,000,000,000.00
0.00
3,699,763.89
3,699,763.89
1,000,000,000.00
Interest Rate
TOTALS
Beginning of Month Balance
New Volume
Principal Collections
Defaulted Amount
7,779,071,563.23
1,965,153,163.16
1,992,737,298.55
4,382,017.60
End of Month Balance
7,747,105,410.24
7.71%
Annualized Yield
Overconcentrations
Are there any Dealer Overconcentrations?
0.00
No
Are there any Manufacturer Overconcentrations?
0.00
No
Are there any Product Line Overconcentrations?
0.00
No
Collections
Principal Collections
Non Principal Collections
Total Collections
Total
1,992,737,298.55
51,982,617.87
2,044,719,916.42
Overconcentration
0.00
0.00
0.00
1,992,737,298.55
51,982,617.87
2,044,719,916.42
Defaults
Default Amount
Series Allocation Percentage
Investor Default Amount
Charge-offs
Investor Charge-offs
4,382,017.60
0.00
4,382,017.60
12.86%
563,308.56
0.00
Page 1 of 8
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
11/20/2008
10/31/2008
08/10/2006
12/22/2008
7/20/2009
7/20/2011
GE Dealer Floorplan Master Note Trust
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
12.86%
6,682,367.87
6,682,367.87
(a) Available Non Principal Collections Allocated to Series
(i)
0.00
0.00
71.43
(A) Amount to Indenture Trustee
(B) Amount to Trustee
(C) Amount to Administrator
0.00
(D) Amount to Custodian
1,666,666.67
(ii) Noteholder Servicing Fee
0.00
Unpaid Servicer Advances and interest thereon
(iii) Class A Monthly Interest
3,525,873.26
(iv) Class B Monthly Interest
134,042.71
(v) Class C Monthly Interest
39,847.92
563,308.56
(vi) Investor Default Amount (treated as Available Principal Collections)
(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
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
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
11/20/2008
10/31/2008
08/10/2006
12/22/2008
7/20/2009
7/20/2011
GE Dealer Floorplan Master Note Trust
2006-3
Excess Non Principal Collections for Series 2006-1
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
1,128,613.36
350,172.80
752,557.32
942,598.20
727,585.10
746,787.88
223,077.22
Total Excess Non Principal Collections
4,871,391.88
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
Non Principal Shortfalls for Series 2008-A
0.00
Total Non Principal Shortfalls
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
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2008-A
0.00
Total Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls
0.00
Released to Transferor
4,871,391.88
Page 3 of 8
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
(b)
11/20/2008
10/31/2008
08/10/2006
12/22/2008
7/20/2009
7/20/2011
GE Dealer Floorplan Master Note Trust
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)
256,166,469.53
256,729,778.09
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
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2006-1
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
Amount Deposited into the Excess Funding Account
Released to Transferor
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
1,797,108,446.62
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
1,797,108,446.62
Page 4 of 8
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
11/20/2008
10/31/2008
08/10/2006
12/22/2008
7/20/2009
7/20/2011
Reserve Account (Series Level Account)
Beginning Reserve Account Amount
Required Reserve Account Amount
Required Reserve Account Percentage
Note Principal Balance
Required Reserve Account Amount
Reserve Account Deficiency
Reserve Account Deposits
Reserve Account Withdrawals
Ending Reserve Account Amount
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
Free Equity Amount
Minimum Free Equity Percentage
Outstanding Principal Balance
Total Overconcentration
Minimum Free Equity Amount
Excess Funding Account (Trust Level Account)
Beginning Balance
Deposits
Disbursements
Ending Balance
GE Dealer Floorplan Master Note Trust
2006-3
25,000,000.00
2.50%
1,000,000,000.00
25,000,000.00
0.00
47,341.69
47,341.69
25,000,000.00
0.00
3,699,763.89
3,699,763.89
0.00
0.00
0.00
0.00
0.00
7,779,071,563.23
7,000,000,000.00
779,071,563.23
0.00%
7,000,000,000.00
0.00
0.00
0.00
0.00
0.00
0.00
Page 5 of 8
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
11/20/2008
10/31/2008
08/10/2006
12/22/2008
7/20/2009
7/20/2011
GE Dealer Floorplan Master Note Trust
2006-3
Summary of Allocation of Collections
Total Principal Collections
Principal Collections Allocated to Series 2006-1
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 Not Allocated to Any Series and Released to Transferor
1,992,737,298.55
384,249,704.29
128,083,234.76
256,166,469.53
320,208,086.91
256,166,469.53
256,166,469.53
192,124,852.15
199,572,011.85
Total Non Principal Collections
51,982,617.87
Non Principal Collections Allocated to Series 2006-1
10,023,551.80
Non Principal Collections Allocated to Series 2006-2
3,341,183.93
Non Principal Collections Allocated to Series 2006-3
6,682,367.87
Non Principal Collections Allocated to Series 2006-4
8,352,959.84
Non Principal Collections Allocated to Series 2007-1
6,682,367.87
Non Principal Collections Allocated to Series 2007-2
6,682,367.87
Non Principal Collections Allocated to Series 2008-A
5,011,775.90
Non Principal Collections Not Allocated to Any Series and Released to Transferor
5,206,042.79
Page 6 of 8
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
GE Dealer Floorplan Master Note Trust
2006-3
11/20/2008
10/31/2008
08/10/2006
12/22/2008
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
Average Monthly Payment Rates < 20%
Current Monthly Payment Rate
25.62%
Prior Monthly Payment Rate
26.36%
Second Prior Monthly Payment Rate
26.71%
3 Month Average Monthly Payment Rate
26.23%
(7) Reserve Account balance < Reserve Account trigger
No
25,000,000.00
Reserve Account balance
2.25
(A) Required Reserve Account Percentage minus 0.25%
1,000,000,000.00
times (B) Note Principal Balance
22,500,000.00
Reserve Account trigger
(8) 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%
2.24%
2.55%
2.53%
2.46%
2.12%
(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?
Yes
Number of accounts added / (removed) 22
Page 7 of 8
Payment Date:
Collection Period Ended:
Closing Date:
Next Payment Date:
Expected Principal Payment Date:
Final Maturity Date:
GE Dealer Floorplan Master Note Trust
2006-3
11/20/2008
10/31/2008
08/10/2006
12/22/2008
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
8.7
0.11%
9.0
0.12%
6.8
0.09%
5.6
0.07%
2.6
0.03%
32.8
0.42%
*Figures may not foot due to rounding
Page 8 of 8