EX-1.3: 2006-2 TERMS AGREEMENT
EX-1.3 4 y22898exv1w3.htm EX-1.3: 2006-2 TERMS AGREEMENT EX-1.3
Exhibit 1.3
GE DEALER FLOORPLAN
MASTER NOTE TRUST ASSET BACKED NOTES
MASTER NOTE TRUST ASSET BACKED NOTES
TERMS AGREEMENT
(SERIES 2006-2)
(SERIES 2006-2)
| Dated: June 27, 2006 | ||
To: | CDF Funding, Inc. | |
| General Electric Capital Corporation | ||
Re: | Underwriting Agreement, dated June 26, 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 Note are the Series 2006-2 Notes that will be issued by GE Dealer Floorplan Master Note Trust.
Final | ||||||||
| Class | Principal Amount | Interest Rate | Maturity Date | |||||
A | $ | 477,500,000 | One-month LIBOR plus 0.07% per year | April 22, 2013 | ||||
B | $ | 17,500,000 | One-month LIBOR plus 0.24% per year | April 22, 2013 | ||||
C | $ | 5,000,000 | One-month LIBOR plus 0.43% per year | April 22, 2013 | ||||
| 2. | Underwriters |
The Underwriters named below are the “Underwriters” for the purpose of this Terms Agreement and for the Underwriting Agreement.
| Class | ||||||
| Underwriter | Purchased | $ Purchased | ||||
Banc of America Securities LLC | A | $ | 167,125,000 | |||
| B | $ | 8,750,000 | ||||
| C | $ | 2,500,000 | ||||
Greenwich Capital Markets, Inc. | A | $ | 167,125,000 | |||
| B | $ | 8,750,000 | ||||
| C | $ | 2,500,000 | ||||
Deutsche Bank Securities Inc. | A | $ | 43,000,000 | |||
| B | $ | 0 | ||||
| C | $ | 0 | ||||
JP Morgan Securities Inc. | A | $ | 43,000,000 | |||
| B | $ | 0 | ||||
| C | $ | 0 | ||||
Morgan Stanley & Co. Incorporated | A | $ | 43,000,000 | |||
| B | $ | 0 | ||||
| C | $ | 0 | ||||
Blaylock & Company, Inc. | A | $ | 14,250,000 | |||
| B | $ | 0 | ||||
| C | $ | 0 | ||||
| 3. | Underwriting Liability |
| Underwriting Liability | Class A | Class B | Class C | |||||||||
Banc of America Securities LLC | $ | 167,125,000 | $ | 8,750,000 | $ | 2,500,000 | ||||||
Greenwich Capital Markets, Inc. | 167,125,000 | 8,750,000 | 2,500,000 | |||||||||
Deutsche Bank Securities Inc. | 43,000,000 | 0 | 0 | |||||||||
JP Morgan Securities Inc. | 43,000,000 | 0 | 0 | |||||||||
Morgan Stanley & Co. Incorporated | 43,000,000 | 0 | 0 | |||||||||
Blaylock & Company, Inc. | 14,250,000 | 0 | 0 | |||||||||
Total Amount | $ | 477,500,000 | $ | 17,500,000 | $ | 5,000,000 | ||||||
| 4. | Purchase Price, Discounts and Concessions |
| Class A | Class B | Class C | ||||||||||
Gross Purchase Price | 100 | % | 100 | % | 100 | % | ||||||
Underwriting Discount | 0.1375 | % | 0.2950 | % | 0.3400 | % | ||||||
Net Purchase Price | 99.863 | % | 99.705 | % | 99.660 | % | ||||||
Maximum Dealer Selling Concessions | 0.0825 | % | 0.1770 | % | 0.2040 | % | ||||||
Maximum Dealer Reallowance Discounts | 0.0413 | % | 0.0885 | % | 0.1020 | % | ||||||
| 2 | 2006-2 Terms Agreement |
5. Time of Sale
4:04 p.m. (New York City time) (U.S.) on June 27, 2006 (the time the first Contract of Sale was entered into as designated by the Representatives.)
| 3 | 2006-2 Terms Agreement |
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.
| Banc of America Securities LLC, as a Representative | ||||||
| By: | /s/ Mert Arinc | |||||
| Name: Mert Arinc | ||||||
| Title: Principal | ||||||
| Greenwich Capital Markets, Inc., as a Representative | ||||||
| By: | /s/ Daniel P. McGarvey | |||||
| Name: Daniel P. McGarvey | ||||||
| Title: Managing Director | ||||||
For themselves and as representatives of the other several Underwriters named in this Terms Agreement.
Accepted and Agreed:
CDF Funding, Inc.
By: | /s/ Margaret Fritz | |||
| Name: Margaret Fritz | ||||
| Title: Vice President | ||||
| General Electric Capital Corporation | ||||
By: | /s/ Margaret Fritz | |||
| Name: Margaret Fritz | ||||
| Title: Attorney-in-Fact | ||||
| S-2 | 2006-2 Terms Agreement |
