Item 1.
Business.
Not Applicable.
Item 1A.
Item 1A.
Risk Factors.
Not Applicable.
Item 1B.
Item 1B.
Unresolved Staff Comments.
Not Applicable.
Item 2.
Item 2.
Properties.
John Deere Owner Trust 2006 (the “Trust”) is a trust established under the laws of the State of Delaware by the Trust Agreement dated as of June 15, 2006 (the “Trust Agreement”) between John Deere Receivables, Inc. (the “Seller”) and U.S. Bank Trust National Association, acting thereunder not in its individual capacity but solely as trustee of the Trust. John Deere Capital Corporation (the “Servicer”) is the Servicer under a Sale and Servicing Agreement dated as of June 15, 2006 (the “Sale and Servicing Agreement”) among the Servicer, the Seller and the Trust. On June 20, 2006 (the “Closing Date”), the Trust issued its Asset Backed Certificates (the “Certificates”) with an aggregate principal amount of $12,040,248. In addition, on the Closing Date, the Trust issued $183,500,000 aggregate principal amount of Class A-1 5.36417% Asset Backed Notes (the “A-1 Notes”), $123,000,000 aggregate principal amount of Class A-2 5.41% Asset Backed Notes (the “A-2 Notes”), $272,000,000 aggregate principal amount of Class A-3 5.38% Asset Backed Notes (the “A-3 Notes”), and $211,970,000 aggregate principal amount of Class A-4 5.39% Asset Backed Notes (the “A-4 Notes” and together with the A-1 Notes, the A-2 Notes and the A-3 Notes, the “Notes”). The Certificates evidence fractional undivided interests in the Trust. The Seller retained the entire principal amount of the Certificates. The Notes evidence debt obligations of the Trust. The Trust property includes (i) agricultural and construction equipment retail installment sale and loan contracts (the “Receivables”) secured by new and used agricultural equipment and construction and forestry equipment (the “Financed Equipment”) sold to the Trust by the Seller, (ii) all monies (including accrued interest) due thereunder on or after May 28, 2006, (iii) such amounts as from time to time may be held in one or more accounts established and maintained by the Servicer pursuant to the Sale and Servicing Agreement or the Trust Agreement and the short-term investments made from those collections, (iv) the security interests in the Financed Equipment, (v) any proceeds of repossessed Financed Equipment, (vi) the rights to proceeds from claims on physical damage, credit life or disability insurance policies, if any, covering the Financed Equipment or the obligors on the Receivables, as the case may be, (vii) the rights of the Seller under the Purchase Agreement dated as of June 15, 2006 (the “Purchase Agreement”) between the Servicer and the Seller and (viii) interest earned on short-term investments made by the Trust.
As of May 28, 2006, the Receivables had an aggregate principal balance plus accrued interest of approximately $811,029,122.15. As of October 31, 2006, the end of the fiscal year of the Trust for which this Form 10-K annual report is being filed, the aggregate principal balance of the Receivables remaining in the Trust was approximately $711,388,710.01.
Item 3.
Item 3.
Legal Proceedings.
Not applicable.
Item 4.
Item 4.
Submission of Matters to a Vote of Security Holders.
No matter was submitted during the fiscal year covered by this annual report to a vote of holders of either the Notes or Certificates.
PART II
Item 5.
Item 5.
Market For Registrant’s Common Equity and Related Stockholder Matters.
Not Applicable.
Item 7.
Item 7.
Management’s Discussion and Analysis of Financial Condition and Results of Operations.
Not Applicable.
Item 7A.
Item 7A.
Quantitative and Qualitative Disclosures About Market Risk.
Not Applicable.
Item 8.
Item 8.
Financial Statements and Supplementary Data.
Not Applicable.
Item 9.
Item 9.
Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.
Not Applicable.
Item 9A.
Item 9A.
Controls and Procedures.
Not Applicable.
Item 9B.