GE Dealer Floorplan Master Note Trust, Series 2006-3 (PDF, 51.2 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
6/22/2009
5/31/2009
08/10/2006
7/20/2009
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
0.32625%
955,000,000.00
955,000,000.00
0.00
285,604.69
285,604.69
955,000,000.00
B
36159LAV8
0.48625%
35,000,000.00
35,000,000.00
0.00
15,600.52
15,600.52
35,000,000.00
C
36159LAW6
0.66625%
10,000,000.00
10,000,000.00
0.00
6,107.29
6,107.29
10,000,000.00
1,000,000,000.00
1,000,000,000.00
0.00
307,312.50
307,312.50
1,000,000,000.00
TOTALS
Beginning of Month Balance
New Volume
Principal Collections
Defaulted Amount
7,162,628,939.26
1,713,078,398.31
2,009,048,488.29
6,844,915.69
End of Month Balance
6,859,813,933.59
7.87%
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
2,009,048,488.29
48,314,771.21
2,057,363,259.50
Overconcentration
0.00
0.00
0.00
2,009,048,488.29
48,314,771.21
2,057,363,259.50
Defaults
Default Amount
Series Allocation Percentage
Investor Default Amount
Charge-offs
Investor Charge-offs
6,844,915.69
0.00
6,844,915.69
13.96%
955,642.93
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:
6/22/2009
5/31/2009
08/10/2006
7/20/2009
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
13.96%
6,745,396.36
(a) Available Non Principal Collections Allocated to Series
(i)
6,745,396.36
(A) Amount to Indenture Trustee
(B) Amount to Trustee
(C) Amount to Administrator
0.00
0.00
83.33
(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
285,604.69
(iv) Class B Monthly Interest
15,600.52
(v) Class C Monthly Interest
6,107.29
(vi) Investor Default Amount (treated as Available Principal Collections)
(vii) Investor Charge-offs
955,642.93
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:
6/22/2009
5/31/2009
08/10/2006
7/20/2009
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
1,880,051.73
3,815,690.93
4,771,639.73
3,789,107.59
3,809,549.26
1,844,286.43
Excess Non Principal Collections for Series 2008-B
0.00
Total Excess Non Principal Collections
19,910,325.67
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 2008-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
Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls for Series 2008-B
0.00
0.00
Total Aggregate Excess Non Principal Collections Applied to Non Principal Shortfalls
0.00
Released to Transferor
19,910,325.67
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)
6/22/2009
5/31/2009
08/10/2006
7/20/2009
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)
280,490,376.55
281,446,019.48
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
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
1,547,953,107.15
0.00
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
0.00
0.00
0.00
0.00
0.00
0.00
Aggregate Shared Principal Collections Applied to Principal Shortfall for Series 2008-B
0.00
Amount Deposited into the Excess Funding Account
Released to Transferor
0.00
1,547,953,107.15
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:
6/22/2009
5/31/2009
08/10/2006
7/20/2009
7/20/2009
7/20/2011
2006-3
Required Enhancement (Series Level Account)
What is the current Tier condition?
Required Enhancement Percentage
Note Principal Balance
Required Enhancement Amount
None
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
7,636.66
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
307,312.50
307,312.50
0.00
0.00
0.00
0.00
0.00
6,859,813,933.59
5,500,000,000.00
1,359,813,933.59
0.00%
5,500,000,000.00
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:
6/22/2009
5/31/2009
08/10/2006
7/20/2009
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
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 2008-B
Principal Collections Not Allocated to Any Series and Released to Transferor
Total Non Principal Collections
2,009,048,488.29
140,245,188.28
280,490,376.55
350,612,970.69
280,490,376.55
280,490,376.55
210,367,782.42
0.00
466,351,417.25
48,314,771.21
Non Principal Collections Allocated to Series 2006-2
3,372,698.18
Non Principal Collections Allocated to Series 2006-3
6,745,396.36
Non Principal Collections Allocated to Series 2006-4
8,431,745.46
Non Principal Collections Allocated to Series 2007-1
6,745,396.36
Non Principal Collections Allocated to Series 2007-2
6,745,396.36
Non Principal Collections Allocated to Series 2008-A
5,059,047.27
Non Principal Collections Allocated to Series 2008-B
0.00
Non Principal Collections Not Allocated to Any Series and Released to Transferor
11,215,091.22
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
6/22/2009
5/31/2009
08/10/2006
7/20/2009
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
28.05%
Prior Monthly Payment Rate
25.47%
Second Prior Monthly Payment Rate
23.52%
3 Month Average Monthly Payment Rate
25.68%
Does Tier 4 Condition apply?
No
The Enhancement Amount is less than the Required Enhancement Amount after giving effect to all deposits to the Reserve
Account and adjustments to the Funded Enhancement Amount pursuant to Section 4.12 for two consecutive Payment
Dates?
No
(7) Reserve Account balance < Reserve Account trigger
Reserve Account balance
No
25,000,000.00
(A) Required Reserve Account Percentage minus 0.25%
times (B) Note Principal Balance
Reserve Account trigger
2.25
1,000,000,000.00
22,500,000.00
(8) The sum of all investments held in trust accounts of the Issuer > 50% of the assets of the Issuer
Current Month
2.02%
Prior Month
2.02%
Second Prior Month
2.45%
Third Prior Month
2.45%
Fourth Prior Month
2.50%
Fifth Prior Month
2.46%
No
(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) 0
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
6/22/2009
5/31/2009
08/10/2006
7/20/2009
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
5.6
0.08%
6.1
0.09%
5.4
0.08%
3.3
0.05%
4.0
0.06%
24.5
0.36%
*Figures may not foot due to rounding
Page 8 of 8