Perfection. The Sponsor has started procedures that will result in the perfection of a first priority security interest against the applicable Obligor in the Financed Vehicles.
Appears in 67 contracts
Sources: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2025-C), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2025-C), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2025-B)
Perfection. The Sponsor has represented that it has started procedures that will result in the perfection of a first priority security interest against the applicable each Obligor in the Financed Vehicles.
Appears in 66 contracts
Sources: Indenture (Ford Credit Auto Owner Trust 2025-C), Indenture (Ford Credit Auto Owner Trust 2025-C), Indenture (Ford Credit Auto Owner Trust 2025-B)