EX-1.2: SERIES 2006-4 TERMS AGREEMENT
EX-1.2 3 y26214k2exv1w2.htm EX-1.2: SERIES 2006-4 TERMS AGREEMENT EX-1.2
Exhibit 1.2
GE DEALER FLOORPLAN
MASTER NOTE TRUST ASSET BACKED NOTES
TERMS AGREEMENT
(SERIES 2006-4)
(SERIES 2006-4)
Dated: October 31, 2006
To: | CDF Funding, Inc. | |
| General Electric Capital Corporation | ||
Re: | Underwriting Agreement, dated October 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 Notes are the Series 2006-4 Notes that will be issued by GE Dealer Floorplan Master Note Trust.
| Principal | Final | |||||||||||
| Class | Amount | Interest Rate | Maturity Date | |||||||||
A | $ | 1,193,750,000 | One month LIBOR plus 0.01% per year | October 20, 2011 | ||||||||
B | $ | 43,750,000 | One month LIBOR plus 0.12% per year | October 20, 2011 | ||||||||
C | $ | 12,500,000 | One month LIBOR plus 0.35% per year | October 20, 2011 | ||||||||
| 2006-4 Terms Agreement |
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 | ||||||
Merrill Lynch, Pierce, Fenner & Smith Incorporated | A | $ | 418,875,000 | |||||
| B | $ | 21,875,000 | ||||||
| C | $ | 6,250,000 | ||||||
J.P. Morgan Securities Inc. | A | $ | 418,875,000 | |||||
| B | $ | 21,875,000 | ||||||
| C | $ | 6,250,000 | ||||||
Banc of America Securities LLC | A | $ | 77,500,000 | |||||
| B | $ | 0 | ||||||
| C | $ | 0 | ||||||
Deutsche Bank Securities Inc. | A | $ | 77,500,000 | |||||
| B | $ | 0 | ||||||
| C | $ | 0 | ||||||
Greenwich Capital Markets, Inc. | A | $ | 77,500,000 | |||||
| B | $ | 0 | ||||||
| C | $ | 0 | ||||||
Morgan Stanley & Co. Incorporated | A | $ | 77,500,000 | |||||
| B | $ | 0 | ||||||
| C | $ | 0 | ||||||
CastleOak Securities, L.P. | A | $ | 23,000,000 | |||||
| B | $ | 0 | ||||||
| C | $ | 0 | ||||||
The Williams Capital Group, L.P. | A | $ | 23,000,000 | |||||
| B | $ | 0 | ||||||
| C | $ | 0 | ||||||
| 2 | 2006-4 Terms Agreement |
3. Underwriting Liability
| Underwriting Liability | Class A | Class B | Class C | |||||||||
Merrill Lynch, Pierce, Fenner & Smith Incorporated | $ | 418,875,000 | $ | 21,875,000 | $ | 6,250,000 | ||||||
J.P. Morgan Securities Inc. | 418,875,000 | 21,875,000 | 6,250,000 | |||||||||
Banc of America Securities LLC | 77,500,000 | 0 | 0 | |||||||||
Deutsche Bank Securities Inc. | 77,500,000 | 0 | 0 | |||||||||
Greenwich Capital Markets, Inc. | 77,500,000 | 0 | 0 | |||||||||
Morgan Stanley & Co. Incorporated | 77,500,000 | 0 | 0 | |||||||||
CastleOak Securities, L.P. | 23,000,000 | 0 | 0 | |||||||||
The Williams Capital Group, L.P. | 23,000,000 | 0 | 0 | |||||||||
Total Amount | $ | 1,193,750,000 | $ | 43,750,000 | $ | 12,500,000 | ||||||
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
12:05 p.m. (New York City time) on October 31, 2006 (the time the first Contract of Sale was entered into as designated by the Representatives).
| 3 | 2006-4 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.
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, as a Representative | ||||||
| By: | /s/ Lisa Waller | |||||
| Name: Lisa Waller Title: Vice President | ||||||
| J.P. MORGAN SECURITIES INC., as a Representative | ||||||
| By: | /s/ John Cho | |||||
| Name: John Cho | ||||||
| Title: Managing Director | ||||||
For themselves and as representatives of the other several Underwriters named in this Terms Agreement.
| S-1 | 2006-4 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/ Margaret Fritz | |||||
| Name: Margaret Fritz | ||||||
| Title: Attorney-in-Fact | ||||||
| S-2 | 2006-4 Terms Agreement |
