Common use of Repurchase of Receivables; Payment of Purchase Price Clause in Contracts

Repurchase of Receivables; Payment of Purchase Price. For a breach described in Section 3.4(a), the Sponsor may, and if the breach has a material adverse effect on a Receivable will, repurchase the Receivable by paying the Purchase Amount for the Receivable on the Business Day before the Payment Date (or, with satisfaction of the Rating Agency Condition, on the Payment Date) related to the Collection Period in which the Sponsor has knowledge or receives notice of and confirms the breach or, at the Sponsor’s option, on or before the following Payment Date, unless the breach is cured in all material respects before that Payment Date. If Ford Credit is the Servicer, the Sponsor may cause the Purchase Amount to be paid according to Section 4.3(c) of the Sale and Servicing Agreement.

Repurchase of Receivables; Payment of Purchase Price. For a breach described in Section 3.4(a), the Sponsor may, and if the breach has a material adverse effect on a Receivable will, repurchase the Receivable by paying the Purchase Amount for the Receivable on the Business Day before the Payment Date (or, with satisfaction of the Rating Agency Condition, on the Payment Date) related to the Collection Period in which the Sponsor has knowledge or receives notice of and confirms the breach or, at the Sponsor’s 's option, on or before the following Payment Date, unless the breach is cured in all material respects before that Payment Date. If Ford Credit is the Servicer, the Sponsor may cause the Purchase Amount to be paid according to Section 4.3(c) of the Sale and Servicing Agreement.

Repurchase of Receivables; Payment of Purchase Price. For a breach described in Section 3.4(a), the The Sponsor may, and if the breach has a material adverse effect on a the Receivable will, repurchase the Receivable described in Section 3.4(a) by paying the Purchase Amount for the Receivable on the Business Day before the Payment Date (or, with satisfaction of the Rating Agency Condition, on the Payment Date) related to the Collection Period in which the Sponsor has knowledge or receives notice of and confirms the breach or, at the Sponsor’s option, on or before the following Payment Date, unless the breach is cured in all material respects before that Payment Date. If Ford Credit is the Servicer, the Sponsor may cause the Purchase Amount to be paid according to Section 4.3(c) of the Sale and Servicing Agreement.

Repurchase of Receivables; Payment of Purchase Price. For a breach described in Section 3.4(a), the The Sponsor may, and if the breach has a material adverse effect on a the Receivable will, repurchase the Receivable described in Section 3.4(a) by paying the Purchase Amount for the Receivable on the Business Day before the Payment Date (or, with satisfaction of the Rating Agency Condition, on the Payment Date) related to the Collection Period in which the Sponsor has knowledge or receives notice was notified of and confirms confirmed the breach or, at the Sponsor’s option, on or before the following Payment Date, unless the breach is cured in all material respects before that Payment Date. If Ford Credit is the Servicer, the Sponsor may cause the Purchase Amount to be paid according to Section 4.3(c) of the Sale and Servicing Agreement.

Repurchase of Receivables; Payment of Purchase Price. For a breach described in Section 3.4(a), the The Sponsor may, and if the breach has a material adverse effect on a Receivable will, repurchase the a Receivable described in Section 3.4(a) by paying the Purchase Amount for the Receivable on the Business Day before the Payment Date (or, with satisfaction of the Rating Agency Condition, on the Payment Date) related to the Collection Period in which the Sponsor has knowledge or receives notice was notified of and confirms confirmed the breach or, at the Sponsor’s option, on or before the following Payment Date, unless the breach is cured in all material respects before that Payment Date. If Ford Credit is the Servicer, the Sponsor may cause the Purchase Amount to be paid according to Section 4.3(c) of the Sale and Servicing Agreement.