Item 1B. Unresolved Staff Comments
Not Applicable.
Substitute information provided in accordance with General Instruction J to Form 10-K:
Item 1112(b) of Regulation AB. Significant Obligors of Pool Assets (Financial Information).
Not Applicable. No single obligor represents 10% or more of the pool assets of the Issuing Entity.
Item 1114(b)(2) of Regulation AB. Credit Enhancement and Other Support, Except for Certain Derivatives Instruments (Financial Information).
The consolidated financial statements of Ambac Assurance Corporation and its subsidiaries (“Ambac”) are incorporated herein by reference from Exhibit 99.01 of the Year End Report on Form 10-K filed by Ambac Financial Group, Inc. (File No. 1-10777) on March 1, 2007. You should be aware that any such financial statements may be modified or superseded by a document filed with the SEC at a later date. You should not assume that information concerning Ambac is accurate as of any date other than the date that such Form 10-K was filed with the SEC.
Item 1115(b) of Regulation AB. Certain Derivatives Instruments (Financial Information).
Not Applicable.
Item 1117 of Regulation AB. Legal Proceedings.
There are no current legal or governmental proceedings pending against Triad Automobile Receivables Trust 2006-A (the “Issuing Entity”), Triad Financial Special Purpose LLC (the “Depositor”), or Triad Financial Corporation (“Triad” or the “Servicer”), or to Triad’s knowledge, Wilmington Trust Company (the “Owner Trustee”), or Citibank, N.A. (the “Indenture Trustee”) that, if determined adversely to such party, would be expected to have a material adverse effect on the performance of the notes.
Part II
The following items have been omitted in accordance with General Instructions J to Form 10-K.
(A)
Item 5, Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
(B)
Item 6, Selected Financial Data
(C)
Item 7, Management’s Discussion and Analysis of Financial Condition and Result of Operation
(D)
Item 7A, Quantitative and Qualitative Disclosure about Market Risk
(E)
Item 8, Financial Statements and Supplementary Data
(F)
Item 9, Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
(G)
Item 9A, Controls and Procedures
Item 9B.
Item 9B. Other Information
None.
Part III
The following items have been omitted in accordance with General Instructions J to Form 10-K.
(A)
Item 10, Directors and Executive Officers of the Registrant
(B)
Item 11, Executive Compensation
(C)
Item 12, Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
(D)
Item 13, Certain Relationships and Related Transactions, and Director Independence
(E)
Item 14, Principal Accounting Fees and Services
Substitute information provided in accordance with General Instruction J to Form 10-K:
Item 1119 of Regulation AB. Affiliations and Certain Relationships and Related Transactions.
Information required by Item 1119 of Regulation AB has been omitted from this report on Form 10-K in reliance on the Instruction to Item 1119.
Item 1122 of Regulation AB. Compliance with Applicable Servicing Criteria.
Each of Triad Financial Corporation and the Indenture Trustee (each, a “Servicing Participant”) has been identified by the registrant as a party participating in the servicing function with respect to more than 5% of the pool assets held by the Issuing Entity during the reporting period. Each of the Servicing Participants has completed a report on an assessment of compliance with the servicing criteria applicable to such Servicing Participant (each, a “Report on Assessment”) during the Issuing Entity’s year ended December 31, 2006, which Reports on Assessment are attached as exhibits to this Form 10-K. In addition, each of the Servicing Participants has provided an attestation report (each, an “Attestation Report”) by a registered independent public accounting firm regarding its related Report on Assessment. Each Attestation Report is attached as an exhibit to this Form 10-K. Triad Financial Corporation identified one instance of material noncompliance with the servicing criteria set forth in Section 229.1122(d) of Regulation AB as of and for the year ended December 31, 2006. With respect to Section 229.1122(d)(2)(vii)(B), in some cases, certain custodial bank account reconciliations were not completed within 30 days after the bank statement cutoff date. A new process has been implemented to ensure that all custodial bank accounts are reconciled within the required timeframe.
Item 1123 of Regulation AB. Servicer Compliance Statement.
Triad Financial Corporation has been identified as the servicer during the reporting period with respect to the pool assets held by the Issuing Entity. Triad Financial Corporation has provided a statement of compliance with the applicable servicing activities (the “Compliance Statement”), signed by an authorized officer, and such Compliance Statement is attached as an exhibit to this Form 10-K.
Part IV
Item 15.
Item 15. Exhibits, Financial Statement Schedules
The exhibits listed below are either included or incorporated by reference as indicated:
Exhibit 3.1- Certificate of Formation of Triad Financial Special Purpose LLC (the “Depositor”) (incorporated by reference to Exhibit 3.1 to Triad Financial Special Purpose LLC’s Registration Statement on Form S-3 Filed on June 17, 2005 (File No. 333-125925)).
Exhibit 3.2- Limited Liability Company Agreement of the Depositor (incorporated by reference to Exhibit 3.2 to the Depositor’s Registration Statement on Form S-3 Filed on June 17, 2005 (File No. 333-125925)).
Exhibit 4.1- Indenture, dated as of January 26, 2006, between Triad Automobile Receivables Trust 2006-A (the “Issuing Entity”) and Citibank, N.A. (the “Indenture Trustee”) (incorporated by reference to Exhibit 4.1 on the Issuing Entity’s Form 8-K Filed on January 27, 2006 (File No. 333-125925-02)).
Exhibit 4.2- Trust Agreement, dated as of January 26, 2006, among Triad Financial Corporation (“Triad”), the Depositor and Wilmington Trust Company, as the Owner Trustee (incorporated by reference to Exhibit 4.2 on the Issuing Entity’s Form 8-K Filed on January 27, 2006 (File No. 333-125925-02)).
Exhibit 4.3- Sale and Servicing Agreement, dated as of January 26, 2006, among the Depositor, Triad, the Issuing Entity and the Indenture Trustee (incorporated by reference to Exhibit 4.3 on the Issuing Entity’s Form 8-K Filed on January 27, 2006 (File No. 333-125925-02)).
Exhibit 4.4- Note Guaranty Insurance Policy, dated as of January 26, 2006 and delivered by Ambac Assurance Corporation (the “Insurer”) (incorporated by reference to Exhibit 4.4 on the Issuing Entity’s Form 8-K Filed on January 27, 2006 (File No. 333-125925-02)).
Exhibit 10.1- Purchase Agreement, dated as of January 26, 2006, between Triad and the Depositor (incorporated by reference to Exhibit 10.1 on the Issuing Entity’s Form 8-K Filed on January 27, 2006 (File No. 333-125925-02)).
Exhibit 10.2- Insurance and Indemnity Agreement, dated as of January 26, 2006, among the Insurer, the Issuing Entity, Triad, the Depositor and the Indenture Trustee (incorporated by reference to Exhibit 10.2 on the Issuing Entity’s Form 8-K Filed on January 27, 2006 (File No. 333-125925-02)).
Exhibit 31.1- Certification Pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002.*
Exhibit 33.1-Management Assessment of Compliance with Applicable Servicing Criteria, dated March 30, 2007, of Triad Financial Corporation.*
Exhibit 33.2- Management Assessment of Compliance with Applicable Servicing Criteria, dated February 28, 2007, of Citibank, N.A.*
Exhibit 34.1- Report of Registered Public Accounting Firm, dated March 30, 2007, of PricewaterhouseCoopers LLP, relating to Exhibit 33.1.*
Exhibit 34.2- Report of Registered Public Accounting Firm, dated February 28, 2007, of KPMG LLP, relating to Exhibit 33.2.*
Exhibit 35.1- Servicer Compliance Statement, dated March 30, 2007, of Triad Financial Corporation.*
Exhibit 99.1- Consolidated financial statements of Ambac Assurance Corporation and its subsidiaries (incorporated by reference from Exhibit 99.01 of the Year End Report on Form 10-K filed by Ambac Financial Group, Inc. on March 1, 2007 (File No. 1-10777)).
Signature
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: March 30, 2007
Index of Exhibits