Origination of Receivables. Each Receivable (i) was originated in the United States (or, with respect to Receivables representing less than 0.1% of the Initial Pool Balance, under United States law on a United States military base outside the United States) by a Dealer for the retail sale of a Financed Vehicle in the ordinary course of such Dealer’s business and has been fully executed by the parties thereto, (ii) was purchased by the Sponsor from a Dealer and was validly assigned by such Dealer to the Sponsor (or, with respect to Receivables representing less than 0.1% of the Initial Pool Balance, originated in the United States by Ford Credit in the ordinary course of Ford Credit’s business for the sale of a Financed Vehicle to a Dealer for dealership use) and (iii) was underwritten pursuant to the Credit and Collection Policy.
Origination of Receivables. Each Receivable (i) was originated in the United States by a Dealer for the retail sale of a Financed Vehicle in the ordinary course of such Dealer's business and has been fully executed by the parties thereto, (ii) was purchased by the Sponsor from a Dealer and was validly assigned by such Dealer to the Sponsor, and (iii) was underwritten pursuant to the Credit and Collection Policy.
Origination of Receivables. Based on the billing address of the Obligors and the Principal Balances as of the Cutoff Date, approximately 16.60%, 9.40%, 7.08%, 6.01% and 5.52% of the Receivables (by principal balance) had Obligors residing in the States of California, Texas, Pennsylvania, Florida and Georgia, respectively. As of the Cutoff Date, no other state represented more than 5.00% of the Receivables (by principal balance).
Origination of Receivables. (A) Based on the location of the originating Dealer and the Aggregate Principal Balances as of the Cutoff Date, approximately 32.03% of the Receivables were originated in Florida, approximately 7.85% of the Receivables were originated in Georgia, approximately 7.20% of the Receivables were originated in North Carolina, approximately 10.71% of the Receivables were originated in South Carolina, approximately 5.81% of the Receivables were originated in Virginia, approximately 10.00% of the Receivables were originated in Mississippi, approximately 9.04% of the Receivables were B-2 109 originated in Tennessee and approximately 17.37% of the Receivables were originated in Alabama and (B) each Receivable was originated in the United States.
Origination of Receivables. Based on the billing address of the Obligors and the principal balance of Receivables as of the Cutoff Date, approximately [ ]% of the Receivables were originated by Dealers in [ ], each Obligor has been approved by the Originator based on the Originator’s standard underwriting procedures as in effect at the time the related Receivable was entered into. Based on the billing address of the Obligors and the principal balance of the Receivables as of the Cutoff Date, not more than [ ]% of the Receivables were originated in any one state other than [ ].
Origination of Receivables. Based on the location of the Dealers and the Principal Balances as of the Cutoff Date, approximately _____% of the Receivables were originated in California, approximately _____% of the Receivables were originated in Maryland, approximately _____% of the Receivables were originated in New York and the remaining _____% of the Receivables were originated in other States.
Origination of Receivables. The Obligor of each Receivable has been approved by the Originator based on the Credit Policy, and such Receivable satisfies all applicable requirements of the Credit Policy, with such occasional exceptions as may be customary in the industry and in the ordinary course in the Originator's business.
Origination of Receivables. Each Obligor under a Receivable has been approved by the applicable Borrower based on the applicable Credit Policy; each Receivable satisfies all applicable requirements of the applicable Credit Policy; and each Receivable was underwritten in accordance with the applicable Credit Policy.
Origination of Receivables. All accounts receivable of -------------------------- the Seller have been originated by the Seller (and not by any of its subsidiaries or affiliates) in the ordinary course of the Seller's business.
Origination of Receivables. Based on the billing address of the Obligors and the principal balance of Receivables as of the Cutoff Date, approximately [____]% of the Receivables were originated by Dealers in [_______]. Each Obligor has been approved by the Contributor based on the Contributor's standard underwriting procedures as in effect at the time the related Receivable was entered into. Based on the billing address of the Obligors and the principal balance of the Receivables as of the Cutoff Date, not more than 10% of the Receivables were originated in any one state other than [______].
