Document:

Exhibit 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 December 2, 2015 (this “Assignment”),
is among General Electric Capital LLC, a Delaware limited liability company (formerly known as General Electric Corporation, “GE
Capital”), as assignor servicer (the “Assignor Servicer”) and GE Capital US Holdings, Inc., as assignee
servicer (the “Assignee Servicer”).

 

BACKGROUND

 

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 through
the date hereof, 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 and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto hereby agree as follows:

 

SECTION 1. Definitions.
Capitalized terms defined in the Intercreditor Agreement and used but not otherwise defined herein have the meanings given to them
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, 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 faxed or mailed, will be deemed received
as provided in Section 5.1 of the Intercreditor Agreement when sent pursuant to the following instructions:

 

If to the Assignor
Servicer:

 

General Electric
Capital LLC

901 Main Avenue

Norwalk, Connecticut
06851

Attention: Legal
Department

michael.paolillo@ge.com

 

 

Assignment
and Assumption of

Amended and Restated Intercreditor Agreement

     

     

    

 

With a copy to:

 

General Electric
Capital LLC

201 Merritt 7

Norwalk, Connecticut
06851

Attention: Capital
Markets - Securitization

steve.poulin@ge.com

michael.paolillo@ge.com

 

If to the Assignee
Servicer:

 

GE Capital US
Holdings, Inc.

901 Main Avenue

Norwalk, Connecticut 06851

Attention: Legal Department

michael.paolillo@ge.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:

 

GE Capital US
Holdings, Inc.

901 Main Avenue

Norwalk, Connecticut 06851

Attention: Legal Department

michael.paolillo@ge.com

 

 

SECTION 4. Miscellaneous.

 

(a)               
This Assignment is entered into and the assignment and assumption effected hereby shall be effective as of 1:00 a.m. (New
York time) on December 2, 2015 (the “Effective Time”); provided, that each of the parties hereto shall
have executed a counterpart to this Assignment.

 

 

Assignment
and Assumption of

Amended and Restated Intercreditor Agreement

    	 	2	 

     

    

 

 

(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 CLAIM OR DISPUTES BETWEEN THEM PERTAINING TO THIS ASSIGNMENT
OR TO ANY MATTER ARISING OUT OF OR RELATED TO THIS ASSIGNMENT; PROVIDED, THAT EACH PARTY HERETO ACKNOWLEDGES THAT ANY APPEAL
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 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 7.1 OF THE INTERCREDITOR AGREEMENT 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.

 

(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.

 

Assignment
and Assumption of

Amended and Restated Intercreditor Agreement

    	 	3	 

     

    

 

 

(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] 

 

Assignment
and Assumption of

Amended and Restated Intercreditor Agreement

    	 	4	 

     

    

 

 

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

 

GENERAL ELECTRIC 

CAPITAL LLC,

as the Assignor Servicer

 

By: /s/ Thomas A. Davidson                          

Name:Thomas A. Davidson

Title:Authorized Signatory

 

Assignment
and Assumption of

Amended and Restated Intercreditor Agreement

    	 	S-1	 

     

    

 

 

GE CAPITAL US HOLDINGS, INC.,

as the Assignee Servicer

 

By: /s/ Thomas A. Davidson                          

Name:Thomas A. Davidson

Title:Authorized Signatory

 

Assignment
and Assumption of

Amended and Restated Intercreditor Agreement

    	 	S-2Exhibit 4.4

 

EXECUTION COPY

 

ASSIGNMENT AND ASSUMPTION
AGREEMENT (this “Assignment”), dated as of December 2, 2015, by and among GENERAL ELECTRIC CAPITAL LLC, a Delaware
limited liability company (formerly known as General Electric Capital Corporation, the “Assignor”), and GE CAPITAL
US HOLDINGS, INC., a Delaware corporation (the “Assignee”).

 

RECITALS

 

WHEREAS, the Assignor
is the performance guarantor under the Originator Performance Guaranty, dated as of August 12, 2004 (the “Originator Performance
Guaranty”);

 

WHEREAS, the Assignor
wishes to assign all of its rights, powers, trusts and duties as Originator Performance Guarantor under the Originator Performance
Guaranty to the Assignee, and the Assignee wishes to assume such rights, powers, trusts and duties as Originator Performance Guarantor
under the Originator Performance Guaranty;

 

NOW, THEREFORE, in
consideration of the mutual covenants and promises herein, the receipt and sufficiency of which is hereby acknowledged, the Assignor
and the Assignee agree as follows:

 

ARTICLE ONE

ASSIGNMENT OF ORIGINATOR PERFORMANCE
GUARANTY

 

Section 1.             Definitions
and Rules of Construction.Capitalized terms used in this Assignment and not otherwise defined herein are used as defined
in the Originator Performance Guaranty. The Rules of Construction set forth in Section 1.2 of the Originator Performance
Guaranty shall be incorporated herein.

 

Section 2.             Assignment
and Assumption. (a) Pursuant to Section 3.2 of the Originator Performance Guaranty, the Assignor hereby assigns all
of its rights, powers, trusts and duties as Originator Performance Guarantor under the Originator Performance Guaranty to the
Assignee, effective as of the Effective Time, and the Assignee hereby assumes all of the rights, powers, trusts and duties of
the Assignor under the Originator Performance Guaranty, effective as of the Effective Time.

 

(b)           The
Issuer hereby consents to the assignment of the Assignor’s rights, powers, trusts and duties as Originator Performance Guaranty
under the Originator Performance Guaranty to the Assignee.

 

(c)            Notwithstanding
anything to the contrary set forth in this Section 2, this Assignment shall not effect a release, discharge or novation
of the obligations of the Assignor as Originator Performance Guarantor under the Originator Performance Guaranty.

 

(d)           The
Assignor and Assignee acknowledge and agree that the Assignee may further assign its rights, powers, trusts and duties as Originator
Performance Guarantor under the Originator Performance Guaranty to another entity so long as that entity agrees to be bound by
Section 2(e) of this Assignment, and upon such further assignment, the Assignee shall be released from all of its obligations
under the Originator Performance Guaranty. For the avoidance of doubt, no further assignment by the Assignee hereunder shall effect
a release, discharge or novation of the obligations of the Assignor as Originator Performance Guarantor under the Originator Performance
Guaranty.

 

 

    	 	 	 

     

    

 

(e)           Neither Assignee or any assignee of the Assignee’s rights under the Originator Performance Guaranty shall consent
to any amendment or other modification or supplement to the Originator Performance Guaranty without the consent of the Assignor
other than an amendment releasing and discharging the obligations of Assignor under the Originator Performance Guaranty.

 

Section 3.             Notices.
For the purposes of Section 3.1 of the Originator Performance Guaranty, all notices, whether faxed or mailed, will be deemed
received as provided in Section 3.1 of the Originator Performance Guaranty when sent pursuant to the following instructions:

 

TO THE ASSIGNOR:

 

General Electric
Capital LLC

901 Main Avenue

Norwalk, Connecticut 06851

Attention:
Legal Department

michael.paolillo@ge.com

 

With a copy
to:

 

General Electric
Capital LLC

201 Merritt
7

Norwalk, Connecticut
06851

Attention:
Capital Markets - Securitization

steve.poulin@ge.com

michael.paolillo@ge.com

 

TO THE ASSIGNEE:

 

GE Capital US Holdings, Inc.

901 Main Avenue

Norwalk, Connecticut 06851

Attention: Michael Paolillo

michael.paolillo@ge.com

 

TO THE ISSUER:

 

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

 

Assignment and Assumption Agreement –

Originator Performance Guaranty

(GE Capital LLC/GECUSHI)

 

    	 	2	 

     

    

 

With a copy to:

 

GE Capital US Holdings, Inc.

901 Main Avenue

Norwalk, Connecticut 06851

Attention:
Michael Paolillo

michael.paolillo@ge.com

 

Section 4.             Indemnification.
Assignee shall indemnify and hold harmless Assignor and its successors (collectively, the “Assignor Performance Guarantor”),
and reimburse the Assignor Performance Guarantor for, all losses, damages, costs, expenses and liabilities (including reasonable
attorneys’ fees) that the Assignor Performance Guarantor may suffer or incur, or become subject to, as a result of any obligation
under the Originator Performance Guaranty retained by the Assignor Performance Guarantor after the Effective Time or any attempt
by the Issuer, the Indenture Trustee, any Noteholder or any other Person to enforce the Originator Performance Guaranty against
the Assignor Performance Guarantor after the Effective Time.  The Assignee acknowledges and agrees that Assignee shall be
obligated to perform all duties and obligations of the Assignor Performance Guarantor under the Originator Performance Guaranty
after the Effective Time notwithstanding any right of, or claim of, the Issuer, the Indenture Trustee or any other Person to enforce
the Originator Performance Guaranty against the Assignor Performance Guarantor.  Each Assignor Performance Guarantor shall
be a third party beneficiary of this Section 4 and shall be entitled to enforce the provisions of this Section 4.

 

Section 5.             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.

 

Section 6.             Miscellaneous. (a) This Assignment is entered into and the assignment and assumption effected hereby shall be effective
as of 1:00 a.m. (New York time) on December 2, 2015 (the “Effective Time”); provided, that each of the
Issuer, the Assignor and the Assignee shall have executed a counterpart to this Assignment.

 

Assignment and Assumption Agreement –

Originator Performance Guaranty

(GE Capital LLC/GECUSHI)

 

    	 	3	 

     

    

(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 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
Assignment 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 Assignment. Delivery of an executed counterpart of this Assignment by electronic means shall be
equally as effective as delivery of an original executed counterpart of this Assignment.

 

[Signature pages follow.]

 

Assignment and Assumption Agreement –

Originator Performance Guaranty

(GE Capital LLC/GECUSHI)

 

    	 	4	 

     

    

 

 

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

 

GENERAL ELECTRIC CAPITAL LLC,

as Assignor

 

By: /s/ Thomas A. Davidson                      

Name:Thomas A. Davidson

Title:Authorized Signatory

Assignment and Assumption Agreement –

Originator Performance Guaranty

(GE Capital LLC/GECUSHI)

 

    	 	S-1	 

     

    

 

 

GE CAPITAL US HOLDINGS, INC.,

as Assignee 

 

By: /s/ Thomas A. Davidson                      

Name:Thomas A. Davidson

Title:Authorized Signatory

 

 

 

Assignment and Assumption Agreement –

Originator Performance Guaranty

(GE Capital LLC/GECUSHI)

 

    	 	S-2	 

     

    

 

Solely for the purposes of the consent set forth in Section
2(b) of this Assignment:

 

 

GE DEALER FLOORPLAN MASTER NOTE TRUST

 

 

By: BNY Mellon Trust of Delaware, not in its individual capacity, 

but solely as Owner Trustee on behalf of the Issuer

 

By: /s/ Kristine K. Gullo                      

Name:Kristine K. Gullo

Title:Vice President

 

 

 

Assignment and Assumption Agreement –

Originator Performance Guaranty

(GE Capital LLC/GECUSHI)

 

    	 	S-3

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