Exhibit 33.1 Report on Assessment of Compliance with Servicing
Criteria of General Electric Capital Corporation





GENERAL
ELECTRIC CAPITAL CORPORATION





Management’s Assertion of Compliance



| | 1. | Management of General Electric Capital Corporation (the “Company”) is responsible for
assessing compliance with the servicing criteria applicable to it under paragraph (d) of Item 1122 of Regulation AB, as of and
for the twelve months ended December 31, 2011 (the “Reporting Period”), as set forth in Appendix A hereto. Appendix
B identifies the individual asset-backed transactions and securities defined by management as constituting the platform and includes
asset-backed securities transactions, for which the Company acted as servicer, involving equipment loan and lease receivables (the
“Platform”);
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 2. | The Company has engaged certain vendors which are not “servicers” as defined in Item
1101(j) of Regulation AB (the “Vendors”) to perform specific, limited or scripted activities, and the Company’s
management elects to take responsibility for assessing compliance with the servicing criteria or portions of the servicing criteria
applicable to such Vendors’ activities as set forth in Appendix A hereto, as permitted by Interpretation of 17.06 of the
SEC Division of Corporation Finance Manual of Publicly Available Telephone Interpretations (“Interpretation 17.06”).
Management has policies and procedures in place designed to provide reasonable assurance that the vendors’ activities comply
in all material respects with the servicing criteria applicable to each vendor. The Company’s management is solely responsible
for determining that it meets the SEC requirements to apply Interpretation 17.06 for the vendors and related criteria;
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| | 3. | The Company’s management has assessed the Company’s compliance with the applicable
servicing criteria as of December 31, 2011 and for the Reporting Period. In making this assessment, management used the criteria
set forth by the Securities and Exchange Commission in paragraph (d) of Item 1122 of Regulation AB except as set forth in paragraph
4 below;
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| | 4. | The criteria listed in the column titled “Inapplicable Servicing Criteria” in Appendix
A hereto are inapplicable to the Company based on the activities it performs, directly or through its Vendors, with respect to
the Platform;
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| | 5. | Based on such assessment, management believes that, as of December 31, 2011 and for the Reporting
Period, the Company has complied, in all material respects, with the aforementioned applicable servicing criteria, except as set
forth in Appendix C hereto;
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| | 6. | The Company has not identified and is not aware of any material noncompliance by the Vendors with
the applicable servicing criteria, except as set forth in Appendix C hereto related to 1122(d)(2)(vii)(B), as of December 31, 2011
and for the Reporting Period with respect to the Platform taken as a whole;
| | -- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 7. | The Company has not identified any material deficiency in its policies and procedures to monitor
the compliance by the Vendors with the applicable servicing criteria, except as set forth in Appendix C hereto related to 1122(d)(2)(vii)(B),
as of December 31, 2011 and for the Reporting Period with respect to the Platform taken as a whole; and
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

















| | 8. | KPMG LLP, an independent registered public accounting firm, has issued an attestation report with
respect to the Company’s compliance with the applicable servicing criteria as of December 31, 2011 and for the Reporting
Period.
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March 15, 2012

General Electric Capital Corporation

By: /s/ Peter M. GrahamName: Peter M. Graham
Title: Chief Financial Officer, Capital Markets















APPENDIX A





|Servicing Criteria | Applicable  Servicing Criteria                                                                                                                                                                                                                                    |                                                          
|------------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------
|Reference          | Criteria                                                                                                                                                                                                                                                          | Performed
        Directly
        by
        the Company
|                   | General servicing considerations                                                                                                                                                                                                                                  |                                                          
|1122(d)(1)(i)      | Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements.                                                                                                          | X                                                        
|1122(d)(1)(ii)     | If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities.                                                              | X                                                        
|1122(d)(1)(iii)    | Any requirements in the transaction agreements to maintain a back-up servicer for the pool assets are maintained.                                                                                                                                                 |                                                          
|1122(d)(1)(iv)     | A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. |                                                          
|                   | Cash collection and administration                                                                                                                                                                                                                                |                                                          
|1122(d)(2)(i)      | Payments on pool assets are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements.                     | X                                                        
|1122(d)(2)(ii)     | Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel.                                                                                                                                             | X                                                        










1 Certain of the activities described in servicing criterion 1122(d)(2)(i) are outsourced to Vendors
and the Company has elected to take responsibility for assessing such Vendors’ compliance with servicing criterion 1122(d)(2)(i).













|Servicing Criteria | Applicable  Servicing Criteria                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                          
|------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------
|Reference          | Criteria                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | Performed
        Directly
        by
        the Company
|1122(d)(2)(iii)    | Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | X                                                        
|1122(d)(2)(iv)     | The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                         | X                                                        
|1122(d)(2)(v)      | Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 240.13k-1(b)(1) of this chapter.                                                                                                                                                                                                                                                                                                                                          | X                                                        
|1122(d)(2)(vi)     | Unissued checks are safeguarded so as to prevent unauthorized access.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                          
|1122(d)(2)(vii)    | Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations: (A) Are mathematically accurate; (B) Are prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) Are reviewed and approved by someone other than the person who prepared the reconciliation; and (D) Contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. | X                                                        












2 Certain of the activities described in servicing criteria 1122(d)(2)(vii)(A)-(B) and 1122(d)(2)(vii)(D)
are outsourced to Vendors and the Company has elected to take responsibility for assessing such Vendors’ compliance with
servicing criteria 1122(d)(2)(vii)(A)-(B) and 1122(d)(2)(vii)(D).















|Servicing Criteria | Applicable  Servicing Criteria                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                          
|------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------
|Reference          | Criteria                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | Performed
        Directly
        by
        the Company
|                   | Investor remittances and reporting                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                                          
|1122(d)(3)(i)      | Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports: (A) Are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) Provide information calculated in accordance with the terms specified in the transaction agreements; (C) Are filed with the Commission as required by its rules and regulations; and (D) Agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of pool assets serviced by the servicer. | X                                                        
|1122(d)(3)(ii)     | Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | X                                                        
|1122(d)(3)(iii)    | Disbursements made to an investor are posted within two business days to the servicer’s investor records, or such other number of days specified in the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | X                                                        
|1122(d)(3)(iv)     | Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | X                                                        
|                   | Pool asset administration                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                                          
|1122(d)(4)(i)      | Collateral or security on pool assets is maintained as required by the transaction agreements or related mortgage loan documents.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | X                                                        
|1122(d)(4)(ii)     | Pool asset and related documents are safeguarded as required by the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                                          
|1122(d)(4)(iii)    | Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | X                                                        








3 The activities described in servicing criterion 1122(d)(4)(ii) are outsourced to Vendors and the Company has elected
to take responsibility for assessing such Vendors’ compliance with servicing criterion 1122(d)(4)(ii).











|Servicing Criteria | Applicable  Servicing Criteria                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                                          
|------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------
|Reference          | Criteria                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | Performed
        Directly
        by
        the Company
|1122(d)(4)(iv)     | Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the applicable servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset documents.                                                                                        | X                                                        
|1122(d)(4)(v)      | The servicer’s records regarding the pool assets agree with the servicer’s records with respect to an obligor’s unpaid principal balance.                                                                                                                                                                                                                                                                                                                                                                      | X                                                        
|1122(d)(4)(vi)     | Changes with respect to the terms or status of an obligor's pool assets (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents.                                                                                                                                                                                                                                                        | X                                                        
|1122(d)(4)(vii)    | Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements.                                                                                                                                                                                                         | X                                                        
|1122(d)(4)(viii)   | Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). | X                                                        










4 Certain of the activities described in servicing criterion 1122(d)(4)(iv) are outsourced to Vendors and the Company
has elected to take responsibility for assessing such Vendors’ compliance with servicing criterion 1122(d)(4)(iv).

5 Certain of the activities described in servicing
criterion 1122(d)(4)(viii) are outsourced to Vendors and the Company has elected to take responsibility for assessing such Vendors’
compliance with servicing criterion 1122(d)(4)(viii).













|Servicing Criteria | Applicable  Servicing Criteria                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                                          
|------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------
|Reference          | Criteria                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Performed
        Directly
        by
        the Company
|1122(d)(4)(ix)     | Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on the related pool asset documents.                                                                                                                                                                                                                                                                                                                                                                                                                                         | X                                                        
|1122(d)(4)(x)      | Regarding any funds held in trust for an obligor (such as escrow accounts): (A) Such funds are analyzed, in accordance with the obligor’s pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) Interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) Such funds are returned to the obligor within 30 calendar days of full repayment of the related pool asset, or such other number of days specified in the transaction agreements. |                                                          
|1122(d)(4)(xi)     | Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements.                                                                                                                                                                                      |                                                          
|1122(d)(4)(xii)    | Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission.                                                                                                                                                                                                                                                                                                                                                  |                                                          
|1122(d)(4)(xiii)   | Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                            |                                                          
|1122(d)(4)(xiv)    | Delinquencies, charge-offs and uncollectable accounts are recognized and recorded in accordance with the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                     | X                                                        
|1122(d)(4)(xv)     | Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of this Regulation AB, is maintained as set forth in the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                   | X                                                        

















APPENDIX B





GE Equipment Midticket LLC, Series
2006-1



GE Equipment Midticket LLC, Series
2007-1



GE Equipment Midticket LLC, Series
2009-1



GE Equipment Midticket LLC, Series
2011-1



GE Equipment Transportation LLC,
Series 2011-1















APPENDIX C



Instances of Material
Noncompliance



| | 1. | With respect to servicing criterion 1122(d)(1)(ii), for certain material servicing activities that were outsourced to a third
party, the appropriate policies and procedures were not instituted to monitor the third party’s compliance with such servicing
activities.
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Management’s Discussion:
The Company has identified a material deficiency in its policies and procedures to monitor the Vendor’s compliance with servicing
criterion 1122(d)(2)(vii)(B) in that the Company’s agreements with the Vendor do not require the Vendor to prepare account
reconciliations within 30 calendar days after the bank statement cutoff date. The Company monitors that the Vendor prepares account
reconciliations within 45 calendar days after the bank statement cutoff date.



| | 2. | With respect to servicing criterion 1122(d)(2)(vii)(B), certain account reconciliations were not prepared within 30 calendar
days after the bank statement cutoff date. Certain of these instances of material noncompliance related to account reconciliations
prepared by a Vendor. The Company has identified a material deficiency in its policies and procedures to monitor the Vendor’s
compliance in that the Company’s agreements with the Vendor do not require the Vendor to prepare account reconciliations
within 30 calendar days after the bank statement cutoff date and the Company’s compensating control failed to operate effectively.
| | -- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Management’s Discussion:
In all instances where bank reconciliations were not prepared and reviewed within 30 calendar days, the bank reconciliations were
subsequently prepared and reviewed with no exceptions.



| | 3. | With respect to servicing criterion 1122(d)(3)(i)(B), certain reports to investors did not provide information calculated in
accordance with the terms specified in the transaction agreements.
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4. | With respect to servicing criterion 1122(d)(3)(i)(D), certain reports to investors did not agree with the servicer’s
records as to the total unpaid principal balance and number of pool assets serviced by the servicer.
| | -- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 5. | With respect to servicing criterion 1122(d)(3)(ii), certain amounts due to investors were not allocated and remitted in accordance
with timeframes, distribution priority and other terms set forth in the transaction agreements.
| | -- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 6. | With respect to servicing criterion 1122(d)(4)(iv), certain payments on pool assets were not allocated to principal, interest
or other items in accordance with the related pool asset documents.
| | -- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 7. | With respect to servicing criterion 1122(d)(4)(viii), records documenting collection efforts for certain delinquent pool assets
were not maintained.
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| | 8. | With respect to servicing criterion 1122(d)(4)(ix), certain adjustments to interest rates for pool assets with variable rates
were not computed based on the related pool asset documents.
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------