Document:

Exhibit 4.2

 

EXECUTION COPY

 

INSTRUMENT OF RESIGNATION,
APPOINTMENT AND ACCEPTANCE OF ADMINISTRATOR (this “Agreement”), dated as of March 1, 2016, by and among GE DEALER
FLOORPLAN MASTER NOTE TRUST, a Delaware statutory trust (the “Trust”), BNY MELLON TRUST OF DELAWARE, as trustee
(the “Trustee”), GE CAPITAL US HOLDINGS, INC., a Delaware corporation (the “Resigning Administrator”),
and WELLS FARGO BANK, N.A., a national banking association (the “Successor Administrator”).

 

RECITALS

 

WHEREAS, the Trust, the Trustee
and the Resigning Administrator are parties to a Administration Agreement, dated as of August 12, 2004 (as amended, the “Administration
Agreement”); and

 

WHEREAS, the Resigning Administrator
wishes to resign as Administrator under the Administration Agreement; the Trust wishes to appoint the Successor Administrator to
succeed the Resigning Administrator as Administrator under the Administration Agreement; and the Successor Administrator wishes
to accept appointment as Administrator under the Administration Agreement.

 

NOW, THEREFORE, in consideration
of the foregoing premises and the mutual agreements, provisions and covenants contained in this Agreement, the parties agree as
follows:

 

ARTICLE ONE

THE RESIGNING ADMINISTRATOR

 

Section 1.          Definitions.         Capitalized
terms used in this Agreement and not otherwise defined herein are used as defined in (or by reference in) the Administration Agreement.

 

Section 2.          Resignation.
Pursuant to Sections 8(b) and 8(e) of the Administration Agreement, the Resigning Administrator hereby notifies the
Trust, the Master Servicer and the Indenture Trustee that the Resigning Administrator is hereby resigning as Administrator under
the Administration Agreement, effective as of the Effective Time (as defined in Section 9 below). The Trust hereby consents
to the resignation of the Resigning Administrator.

 

Section 3.          Appointment.
The Trust hereby appoints the Successor Administrator as Administrator under the Administration Agreement, effective as of the
Effective Time, and confirms to the Successor Administrator all the rights, powers, trusts and duties of the Administrator under
the Administration Agreement.

 

Section 4.          Acceptance
of Appointment. (a) The Successor Administrator hereby accepts its appointment as Administrator under the Administration Agreement,
effective as of the Effective Time, and agrees to perform the duties and obligations set forth therein and shall hereby be vested
with all the rights, powers, trusts and duties of the Administrator under the Administration Agreement.

 

    			

     

    

 

(b) This Agreement shall
not constitute (i) a waiver by any of the parties hereto of any obligation or liability which the Resigning Administrator may have
incurred in connection with its performance as Administrator under the Administration Agreement or (ii) an assumption by the Successor
Administrator of any liability of the Resigning Administrator arising out of a breach by the Resigning Administrator of its duties
under the Administration Agreement. This Agreement does not constitute a waiver or assignment by the Resigning Administrator of
any compensation, reimbursement, expenses or indemnity to which it is or may be entitled pursuant to the Administration Agreement.
For the avoidance of doubt, the Resigning Administrator shall be entitled to any accrued and unpaid fees and other amounts owing
to it to but excluding March 1, 2016; however, such fees and other amounts shall be payable solely by the Successor Administrator
and the Trust may pay all fees and other amounts to the Successor Administrator after the date hereof.

 

Section 5.          Waiver.
Each of the Trust and the Master Servicer hereby waives the requirement to provide prior written notice of the Resigning Administrator’s
resignation pursuant to Sections 8(b) and 8(e) of the Administration Agreement.

 

Section 6.          Representations
of Successor Administrator. The Successor Administrator hereby represents and warrants to the Resigning Administrator and to
the Trust that this Agreement has been duly authorized, executed and delivered on behalf of the Successor Administrator and constitutes
its legal, valid and binding obligation.

 

Section 7.          Notices.
For the purposes of Section 10 of the Administration Agreement, all notices, whether sent electronically or mailed, will
be deemed received as provided in Section 10 of the Administration Agreement when sent pursuant to the following instructions:

 

	 	TO THE RESIGNING ADMINISTRATOR:
	 	 	 
	 	 	GE Capital US Holdings, Inc.
	 	 	901 Main Avenue
	 	 	Norwalk, Connecticut 06851
	 	 	Attention: Michael Paolillo
	 	 	michael.paolillo@ge.com
	 	 	 
	 	TO THE SUCCESSOR ADMINISTRATOR:
	 	 	 
	 	 	Wells Fargo Bank, N.A.
	 	 	Wells Fargo Law Department
	 	 	D1053-300
	 	 	301 South College St.
	 	 	Charlotte, North Carolina 28202
	 	 	Attention:  Jeff D. Blake, Senior Counsel
	 	 	jeff.blake@wellsfargo.com
	 	 	 
	 	 	With a copy to:
	 	 	 
	 	 	Wells Fargo & Company
	 	 	MAC A0194-279, 27th Floor
	 	 	45 Fremont Street
	 	 	San Francisco, CA 94105
	 	 	Attention:  Keith Jackson, Senior Counsel and Corporate Secretary
	 	 	KeithJackson@wellsfargo.com

 

    	 	2	Instrument of Resignation and 
Appointment –Administrator

     

    

 

	 	TO THE TRUST:
	 	 	 
	 	 	GE Dealer Floorplan Master Note Trust
	 	 	c/o BNY Mellon Trust of Delaware
	 	 	Bellevue Park Corporate Center
	 	 	301 Bellevue Parkway, 3rd Floor
	 	 	Wilmington, Delaware 19809
	 	 	 
	 	 	With a copy to:
	 	 	 
	 	 	Wells Fargo Bank, N.A.
	 	 	Wells Fargo Law Department
	 	 	D1053-300
	 	 	301 South College St.
	 	 	Charlotte, North Carolina 28202
	 	 	Attention:  Jeff D. Blake, Senior Counsel
	 	 	jeff.blake@wellsfargo.com
	 	 	 
	 	 	With a copy to:
	 	 	 
	 	 	Wells Fargo & Company
	 	 	MAC A0194-279, 27th Floor
	 	 	45 Fremont Street
	 	 	San Francisco, CA 94105
	 	 	Attention:  Keith Jackson, Senior Counsel and Corporate Secretary
	 	 	KeithJackson@wellsfargo.com

 

Section 8.          Limitation
of Liability of the Trustee. It is expressly understood and agreed by the parties hereto that (a) this document is executed
and delivered by BNY Mellon Trust of Delaware, not individually or personally, but solely as Trustee of the Trust, (b) each of
the representations, undertakings and agreements herein made on the part of the Trust is made and intended not as a personal representation,
undertaking and agreement by BNY Mellon Trust of Delaware but is made and intended for the purpose of binding only the Trust, (c)
nothing herein contained shall be construed as creating any liability on BNY Mellon Trust of Delaware, individually or personally,
to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the
parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall BNY Mellon
Trust of Delaware be personally liable for the payment of any indebtedness or expenses of the Trust or be liable for the breach
or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this document.

 

    	 	3	Instrument of Resignation and 
Appointment –Administrator

     

    

 

Section 9.          Miscellaneous.
(a) This Agreement is entered into and the resignation, appointment and acceptance effected hereby shall be effective as of 12:01
a.m. (New York time) on March 1, 2016 (the “Effective Time”); provided, that (i) each of the Trust, the
Trustee, the Resigning Administrator and the Successor Administrator shall have executed a counterpart of this Agreement and (ii)
the Rating Agency Condition shall have been satisfied.

 

(b)          THIS
AGREEMENT AND THE OBLIGATIONS ARISING HEREUNDER SHALL IN ALL RESPECTS, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE,
BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING SECTION 5-1401(1)
OF THE GENERAL OBLIGATIONS LAW, BUT WITHOUT REGARD TO ANY OTHER CONFLICT OF LAW PROVISIONS THEREOF) AND ANY APPLICABLE LAWS OF
THE UNITED STATES OF AMERICA.

 

(c)    This Agreement may be
executed in any number of counterparts each of which shall be an original, but such counterparts shall together constitute but
one and the same Agreement. Delivery of an executed counterpart of this Agreement by electronic means shall be equally as effective
as delivery of an original executed counterpart of this Agreement.

 

[Signature pages follow.]

 

    	 	4	Instrument of Resignation and 
Appointment –Administrator

     

    

 

IN WITNESS WHEREOF, the parties
hereto have caused this Instrument of Resignation, Appointment and Acceptance to be duly executed as of the date first above written.

 

	 	GE DEALER FLOORPLAN MASTER NOTE 

TRUST
	 	 
	 	 	By: BNY Mellon Trust of Delaware, not in its individual capacity, but solely on behalf of the Trust
	 	 
	 	By:	/s/ Kristine K. Gullo
	 	 	Name:  Kristine K. Gullo
	 	 	Title:    Vice President

 

    	 	S-1	Instrument of Resignation and 
Appointment –Administrator

     

    

 

		BNY MELLON TRUST OF DELAWARE, not

 in its individual capacity, but solely as Trustee
	 	 
	 	By:	/s/ Kristine K. Gullo
	 	 	Name:  Kristine K. Gullo
	 	 	Title:    Vice President

 

    	 	S-2	Instrument of Resignation and 
Appointment –Administrator

     

    

 

	 	GE CAPITAL US HOLDINGS, INC., as 

Resigning Administrator
	 	 	 
	 	By:	/s/ Thomas A. Davidson
	 	 	Name:  Thomas A. Davidson
	 	 	Title:    Authorized Signatory

 

    	 	S-3	Instrument of Resignation and 
Appointment –Administrator

     

    

 

	 	WELLS FARGO BANK, N.A., as Successor 

Administrator
	 	 	 
	 	By:	/s/ Lisa K. Lenton
	 	 	Name:  Lisa K. Lenton
	 	 	Title:    Senior Vice President
	 	 	 

 

    	 	S-4	Instrument of Resignation and 
Appointment –Administrator

     

    

 

Solely for the purposes of the waiver set forth in Section 5
of this Agreement:

 

	 	GE CAPITAL US HOLDINGS, INC., as Master Servicer
	 	 	 
	 	By:	/s/ Thomas A. Davidson
	 	 	Name:  Thomas A. Davidson
	 	 	Title:    Authorized Signatory

 

    	 	S-5	Instrument of Resignation and 
Appointment –AdministratorExhibit 4.3

 

EXECUTION COPY

 

ASSIGNMENT AND ASSUMPTION OF

AMENDED AND RESTATED INTERCREDITOR AGREEMENT

 

THIS ASSIGNMENT AND ASSUMPTION
OF AMENDED AND RESTATED INTERCREDITOR AGREEMENT, dated as of March 1, 2016 (this “Assignment”), is among GE
CAPITAL US HOLDINGS, INC., a Delaware corporation, as assignor servicer (the “Assignor Servicer”), and WELLS
FARGO BANK, N.A., a national banking association, as assignee servicer (the “Assignee Servicer”).

 

RECITALS

 

WHEREAS, the Assignor Servicer,
GE Commercial Distribution Finance LLC, Brunswick Acceptance Company, LLC, Polaris Acceptance and GE Dealer Floorplan Master Note
Trust are parties to an Amended and Restated Intercreditor Agreement, dated as of November 9, 2006 (as amended, the “Intercreditor
Agreement”);

 

WHEREAS, the Assignor Servicer
wishes to assign all of its rights and obligations as Servicer under (and as defined in) the Intercreditor Agreement to the Assignee
Servicer, and the Assignee Servicer wishes to assume such rights and obligations as Servicer under (and as defined in) the Intercreditor
Agreement.

 

NOW, THEREFORE, in consideration
of the foregoing premises and the mutual agreements, provisions and covenants contained in this Agreement, the parties agree as
follows:

 

SECTION 1. Definitions.
Capitalized terms used in this Agreement and not otherwise defined are used as defined in (or by reference in) the Intercreditor
Agreement.

 

SECTION 2. Assignment
and Assumption.

 

(a)          The
Assignor Servicer hereby assigns all of its rights and obligations as Servicer under (and as defined in) the Intercreditor Agreement
to the Assignee Servicer, effective as of the Effective Time (as defined in Section 4(a) below), and the Assignee Servicer
assumes such rights and obligations as Servicer under (and as defined in) the Intercreditor Agreement, effective as of the Effective
Time.

 

(b)          This
Agreement shall not constitute (i) a waiver by any of the parties hereto of any obligation or liability which the Assignor Servicer
may have incurred in connection with the Intercreditor Agreement or (ii) an assumption by the Assignee Servicer of any liability
of the Assignor Servicer arising out of a breach by the Assignor Servicer of its duties under the Intercreditor Agreement.

 

SECTION 3. Notices.
For the purposes of Section 5.1 of the Intercreditor Agreement, all notices, whether sent electronically or mailed, will
be deemed received as provided in Section 5.1 of the Intercreditor Agreement when sent pursuant to the following instructions:

 

    	 		Assignment and Assumption of
 Amended and Restated Intercreditor Agreement

     

    

  

If to the Assignor
Servicer:

 

GE Capital US Holdings,
Inc.

901 Main Avenue

Norwalk, Connecticut
06851

Attention: Legal Department

michael.paolillo@ge.com

 

If to the Assignee
Servicer:

 

Wells Fargo Bank,
N.A.

Wells Fargo Law Department

D1053-300

301 South College
St.

Charlotte, North Carolina
28202

Attention: Jeff D.
Blake, Senior Counsel

jeff.blake@wellsfargo.com

 

With a copy to:

 

Wells Fargo &
Company

MAC A0194-279, 27th
Floor

45 Fremont Street

San Francisco, CA
94105

Attention: Keith Jackson,
Senior Counsel and Corporate Secretary

KeithJackson@wellsfargo.com

 

If to the Trust:

 

GE Dealer Floorplan
Master Note Trust

c/o BNY Mellon Trust
of Delaware

Bellevue Park Corporate
Center

301 Bellevue Parkway,
3rd Floor

Wilmington, Delaware
19809

 

With a copy to:

 

Wells Fargo Bank,
N.A.

Wells Fargo Law Department

D1053-300

301 South College
St.

Charlotte, North Carolina
28202

Attention: Jeff D.
Blake, Senior Counsel

jeff.blake@wellsfargo.com

 

    	 	2	Assignment and Assumption of
 Amended and Restated Intercreditor Agreement

     

    

  

With a copy to:

 

Wells Fargo &
Company

MAC A0194-279, 27th
Floor

45 Fremont Street

San Francisco, CA
94105

Attention: Keith Jackson,
Senior Counsel and Corporate Secretary

KeithJackson@wellsfargo.com

 

SECTION 4. Miscellaneous.

 

(a)          This
Assignment is entered into and the assignment and assumption effected hereby shall be effective as of 12:01 a.m. (New York time)
on March 1, 2016 (the “Effective Time”); provided, that each of the parties hereto shall have executed
a counterpart to this Assignment.

 

(b)          THIS
ASSIGNMENT AND THE OBLIGATIONS ARISING HEREUNDER SHALL IN ALL RESPECTS, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE,
BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS
5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW, BUT WITHOUT REGARD TO ANY OTHER CONFLICT OF LAWS PROVISIONS THEREOF) AND ANY
APPLICABLE LAWS OF THE UNITED STATES OF AMERICA.

 

(c)          EACH
PARTY HERETO HEREBY CONSENTS AND AGREES THAT THE STATE OR FEDERAL COURTS LOCATED IN THE BOROUGH OF MANHATTAN IN NEW YORK CITY SHALL
HAVE EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN THEM PERTAINING TO THIS ASSIGNMENT OR TO ANY MATTER
ARISING OUT OF OR RELATING TO THIS ASSIGNMENT; PROVIDED, THAT EACH PARTY HERETO ACKNOWLEDGES THAT ANY APPEALS FROM THOSE
COURTS MAY HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE OF THE BOROUGH OF MANHATTAN IN NEW YORK CITY. EACH PARTY HERETO SUBMITS
AND CONSENTS IN ADVANCE TO SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT, AND EACH PARTY HERETO HEREBY WAIVES
ANY OBJECTION THAT SUCH PARTY MAY HAVE BASED UPON LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS
AND HEREBY CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED APPROPRIATE BY SUCH COURT. EACH PARTY HERETO
HEREBY WAIVES PERSONAL SERVICE OF THE SUMMONS, COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH ACTION OR SUIT AND AGREES THAT SERVICE
OF SUCH SUMMONS, COMPLAINT AND OTHER PROCESS MAY BE MADE BY REGISTERED OR CERTIFIED MAIL ADDRESSED TO SUCH PARTY AT ITS ADDRESS
DETERMINED IN ACCORDANCE WITH SECTION 3 OF THIS ASSIGNMENT AND THAT SERVICE SO MADE SHALL BE DEEMED COMPLETED UPON THE EARLIER
OF SUCH PARTY’S ACTUAL RECEIPT THEREOF OR THREE DAYS AFTER DEPOSIT IN THE UNITED STATES MAIL, PROPER POSTAGE PREPAID. NOTHING
IN THIS SECTION SHALL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY LAW.

 

    	 	3	Assignment and Assumption of
 Amended and Restated Intercreditor Agreement

     

    

 

(d)          BECAUSE
DISPUTES ARISING IN CONNECTION WITH COMPLEX FINANCIAL TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY RESOLVED BY AN EXPERIENCED
AND EXPERT PERSON AND THE PARTIES WISH APPLICABLE STATE AND FEDERAL LAWS TO APPLY (RATHER THAN ARBITRATION RULES), THE PARTIES
DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE BEST COMBINATION OF
THE BENEFITS OF THE JUDICIAL SYSTEM AND OF ARBITRATION, THE PARTIES HERETO WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT,
OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, ARISING OUT OF, CONNECTED WITH,
RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN CONNECTION WITH THIS ASSIGNMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY.

 

(e)          Headings
used herein are for convenience of reference only and shall not affect the meaning of this Assignment or any provision hereof.

 

(f)          This
Assignment may be executed in any number of counterparts, and by the parties hereto on separate counterparts, each of which when
executed and delivered shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.

 

(g)          Executed
counterparts of this Assignment may be delivered electronically.

 

[SIGNATURES
FOLLOW] 

 

    	 	4	Assignment and Assumption of
 Amended and Restated Intercreditor Agreement

     

    

 

IN WITNESS WHEREOF, the parties hereto have
caused this Assignment to be duly executed as of the date first above written.

 

	 	GE CAPITAL US HOLDINGS, INC.,
	 	as the Assignor Servicer
	 	 	 
	 	By:	/s/ Thomas A. Davidson
	 	Name: Thomas A. Davidson
	 	Title:   Authorized Signatory

 

    	 	S-1	Assignment and Assumption of
 Amended and Restated Intercreditor Agreement

     

    

 

	 	WELLS FARGO BANK, N.A.,
	 	as the Assignee Servicer
	 	 	 
	 	By:	/s/ Lisa K. Lenton
	 	Name: Lisa K. Lenton
	 	Title:   Senior Vice President

 

    	 	S-2	Assignment and Assumption of
 Amended and Restated Intercreditor Agreement

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