Common use of Rating Agency Condition Clause in Contracts

Rating Agency Condition. If the transferee of the Residual Interest is Ford Credit or an Affiliate of Ford Credit that is not a special-purpose, bankruptcy remote entity, the holder of the Residual Interest satisfies the Rating Agency Condition.

Rating Agency Condition. If the transferee of the Residual Interest is Ford Credit or an Affiliate of Ford Credit that is not a special-purpose, bankruptcy remote entity, the holder of the Residual Interest satisfies the Rating Agency Condition. [If the Residual Interest may be sold, insert provisions relating to the sale of the Residual Interest, including issuance provisions, legends, transfer restrictions and book-entry provisions. Defined term of "Residual Interest" will globally change to "Certificates".]