Dated: August 1, 2006 To: CDF Funding, Inc. General Electric Capital Corporation Re: Underwriting Agreement, dated August 1, 2006 among CDF Funding,Inc., General Electric Capital Corporation and the Representativesreferred to therein
Contract Categories:
Business Finance
- Underwriting Agreements
EX-1.2 3 y24010exv1w2.htm EX-1.2: 2006-3 TERMS AGREEMENT EX-1.2
Exhibit 1.2
GE DEALER FLOORPLAN
MASTER NOTE TRUST ASSET BACKED NOTES
MASTER NOTE TRUST ASSET BACKED NOTES
TERMS AGREEMENT
(SERIES 2006-3)
(SERIES 2006-3)
Dated: | August 1, 2006 | |
To: | CDF Funding, Inc. | |
| General Electric Capital Corporation | ||
Re: | Underwriting Agreement, dated August 1, 2006 among CDF Funding, Inc., General Electric Capital Corporation and the Representatives referred to therein |
| 1. | Offered Notes. |
The notes described below in this Section 1 are the “Offered Notes” for the purpose of this Terms Agreement and for purposes of the above-referenced Underwriting Agreement (the “Underwriting Agreement”). The Underwriting Agreement is incorporated herein and made a part hereof. The Offered Notes are the Series 2006-3 Notes that will be issued by GE Dealer Floorplan Master Note Trust.
| Principal | Final | |||||||
| Class | Amount | Interest Rate | Maturity Date | |||||
A | $ | 955,000,000 | One month LIBOR | July 20, 2011 | ||||
| plus 0.01% per year | ||||||||
B | $ | 35,000,000 | One month LIBOR | July 20, 2011 | ||||
| plus 0.17% per year | ||||||||
C | $ | 10,000,000 | One month LIBOR | July 20, 2011 | ||||
| plus 0.35% per year | ||||||||
2. Underwriters
The Underwriters named below are the “Underwriters” for the purpose of this Terms Agreement and for the Underwriting Agreement.
| Underwriter | Class Purchased | $ Purchased | ||||
Deutsche Bank Securities Inc. | A | $ | 334,000,000 | |||
| B | $ | 17,500,000 | ||||
| C | $ | 5,000,000 | ||||
J.P. Morgan Securities Inc. | A | $ | 334,000,000 | |||
| B | $ | 17,500,000 | ||||
| C | $ | 5,000,000 | ||||
Banc of America Securities LLC | A | $ | 64,500,000 | |||
| B | $ | 0 | ||||
| C | $ | 0 | ||||
Greenwich Capital Markets, Inc. | A | $ | 64,500,000 | |||
| B | $ | 0 | ||||
| C | $ | 0 | ||||
Merrill Lynch & Co. | A | $ | 64,500,000 | |||
| B | $ | 0 | ||||
| C | $ | 0 | ||||
Morgan Stanley & Co. Incorporated | A | $ | 64,500,000 | |||
| B | $ | 0 | ||||
| C | $ | 0 | ||||
Blaylock & Company, Inc. | A | $ | 14,500,000 | |||
| B | $ | 0 | ||||
| C | $ | 0 | ||||
The Williams Capital Group, L.P. | A | $ | 14,500,000 | |||
| B | $ | 0 | ||||
| C | $ | 0 | ||||
2
| 3. | Underwriting Liability |
| Underwriting Liability | Class A | Class B | Class C | |||||||||
Deutsche Bank Securities Inc. | $ | 334,000,000 | $ | 17,500,000 | $ | 5,000,000 | ||||||
J.P. Morgan Securities Inc. | 334,000,000 | 17,500,000 | 5,000,000 | |||||||||
Banc of America Securities LLC | 64,500,000 | 0 | 0 | |||||||||
Greenwich Capital Markets, Inc. | 64,500,000 | 0 | 0 | |||||||||
Merrill Lynch & Co. | 64,500,000 | 0 | 0 | |||||||||
Morgan Stanley & Co. Incorporated | 64,500,000 | 0 | 0 | |||||||||
Blaylock & Company, Inc. | 14,500,000 | 0 | 0 | |||||||||
The Williams Capital Group, L.P. | 14,500,000 | 0 | 0 | |||||||||
Total Amount | $ | 955,000,000 | $ | 35,000,000 | $ | 10,000,000 | ||||||
| 4. | Purchase Price, Discounts and Concessions |
| Class A | Class B | Class C | ||||||||||
Gross Purchase Price | 100 | % | 100 | % | 100 | % | ||||||
Underwriting Discount | 0.125 | % | 0.220 | % | 0.290 | % | ||||||
Net Purchase Price | 99.875 | % | 99.780 | % | 99.710 | % | ||||||
Maximum Dealer Selling Concessions | 0.0750 | % | 0.1320 | % | 0.1740 | % | ||||||
Maximum Dealer Reallowance Discounts | 0.0375 | % | 0.0660 | % | 0.0870 | % | ||||||
| 5. | Time of Sale |
2:19 p.m. (New York City time) on August 1, 2006 (the time the first Contract of Sale was entered into as designated by the Representatives).
3
The Underwriters agree, severally and not jointly, to purchase the Offered Notes subject to the terms and provisions of this Terms Agreement and the Underwriting Agreement.
| Deutsche Bank Securities Inc., as a Representative | ||||||
| By: | /s/ Jay E. Steiner | |||||
| Title: Director | ||||||
| By: | /s/ Judith Klahn | |||||
| Title: Vice President | ||||||
| J.P. Morgan Securities Inc., as a Representative | ||||||
| By: | /s/ Marquis Gilmore | |||||
| Title: Vice President | ||||||
For themselves and as representatives of the other several Underwriters named in this Terms Agreement.
S-1
Accepted and Agreed:
| CDF Funding, Inc. | ||||
By: | /s/ Margaret Fritz | |||
| Title: Vice President | ||||
| General Electric Capital Corporation | ||||
By: | /s/ Margaret Fritz | |||
| Title: Attorney-in-Fact | ||||
S-2
