GE DEALER FLOORPLAN MASTER NOTE TRUST ASSET BACKED NOTES TERMS AGREEMENT (SERIES 2014-2)

EX-1.2 3 v391564_ex1-2.htm 2014-2 TERMS AGREEMENT

 

Exhibit 1.2

 

EXECUTION COPY

 

GE DEALER FLOORPLAN MASTER NOTE TRUST
ASSET BACKED NOTES

 

TERMS AGREEMENT
(SERIES 2014-2)

 

Dated:October 16, 2014

 

To:CDF Funding, Inc.

General Electric Capital Corporation

 

Re:Underwriting Agreement, dated October 16, 2014, 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 2014-2 Notes that will be issued by GE Dealer Floorplan Master Note Trust.

 

Class  Principal
Amount
   Interest Rate  Final 
Maturity Date
      
A  $500,000,000  

One month LIBOR plus 0.45% per year

  October 21, 2019

 

2.Underwriters

 

The Underwriters named below are the “Underwriters” for the purpose of this Terms Agreement and for the Underwriting Agreement.

 

Class A Underwriters
J.P. Morgan Securities LLC
 
RBC Capital Markets, LLC
 
Credit Agricole Securities (USA) Inc.
 
The Williams Capital Group, L.P.

 

 1GEDFMNT 2014-2: Terms Agreement
 

  

3.Underwriting Allotment

 

   Class A 
Underwriting Allotment   
J.P. Morgan Securities LLC  $200,000,000 
RBC Capital Markets, LLC  $200,000,000 
Credit Agricole Securities (USA) Inc.  $50,000,000 
The Williams Capital Group, L.P.  $50,000,000 
Total Amount  $500,000,000 

 

3.Purchase Price, Discounts and Concessions

 

   Class A 
Gross Purchase Price   100%
Underwriting Discount   0.250%
Net Purchase Price   99.750%
Maximum Dealer Selling Concessions   0.150%
Maximum Dealer Reallowance Discounts   0.075%

 

4.Date of Sale

 

October 16, 2014 (the date the first Contract of Sale was entered into as designated by the Representatives).

 

 2GEDFMNT 2014-2: 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.

 

  J.P. MORGAN SECURITIES LLC,
  for itself and as a Representative

 

  By: /s/ John Cho
  Name: John Cho
  Title: Managing Director
   
  RBC CAPITAL MARKETS, LLC,
  for itself and as a Representative
   
  By: /s/ Keith L. Helwig
  Name: Keith L. Helwig
  Title: Authorized Signatory

 

 3GEDFMNT 2014-2: Terms Agreement
 

  

Accepted and Agreed:  
   
CDF Funding, inc.  
   
By: /s/ John E. Peak  
Name: John E. Peak  
Title: Vice President  

 

 

General Electric Capital Corporation
   
By: /s/ Thomas A. Davidson  
Name: Thomas A. Davidson  
Title: Authorized Signatory  

 

 

 4GEDFMNT 2014-2: Terms Agreement