Common use of Repurchase of Receivables Upon Breach of Representations or Warranties by the Depositor Clause in Contracts

Repurchase of Receivables Upon Breach of Representations or Warranties by the Depositor. (a) If a Responsible Person of the Depositor has actual knowledge, or receives notice from the Issuer, the Owner Trustee or the Indenture Trustee, of a breach of the representations or warranties made by the Depositor pursuant to Section 2.3 that materially and adversely affects any Receivable and such breach has not been cured in all material respects by the last day of the second full Collection Period (or, at the Depositor’s option, the first full Collection Period) after the Responsible Person obtains actual knowledge or is notified of such breach, the Depositor will repurchase such Receivable by paying (or causing to be paid) the Purchase Amount for such Receivable to the Collection Account on the Business Day preceding the Payment Date after such Collection Period (or, with satisfaction of the Rating Agency Condition, on such Payment Date). If Ford Credit is the Servicer, the Depositor may cause any Purchase Amount to be paid in accordance with Section 4.3(c).

Repurchase of Receivables Upon Breach of Representations or Warranties by the Depositor. (a) If a Responsible Person of the Depositor has actual knowledge, or receives notice from the Issuer, the Owner Trustee or the Indenture Trustee, of a breach of the representations or warranties made by the Depositor pursuant to Section 2.3 that materially and adversely affects any Receivable and such breach has not been cured in all material respects by the last day of the second full Collection Period (or, at the Depositor’s 's option, the first full Collection Period) after the Responsible Person obtains actual knowledge or is notified of such breach, the Depositor will repurchase such Receivable by paying remitting (or causing to be paidremitted) the Purchase Amount for such Receivable to the Collection Account on the Business Day preceding the Payment Date after such Collection Period (or, with satisfaction of the Rating Agency ConditionConfirmation, on such Payment Date). If Ford Credit is the Servicer, the Depositor may cause any Purchase Amount to be paid remitted any in accordance with Section 4.3(c).

Repurchase of Receivables Upon Breach of Representations or Warranties by the Depositor. (a) If a Responsible Person of the Depositor has actual knowledge, or receives notice from the Issuer, the Owner Trustee or the Indenture Trustee, of a breach of the representations or warranties made by the Depositor pursuant to under Section 2.3 that materially and adversely affects any Receivable and such the breach has not been cured in all material respects by the last day of the second full Collection Period (or, at the Depositor’s option, the first full Collection Period) after the Responsible Person obtains actual knowledge or is notified of such the breach, the Depositor will repurchase such the Receivable by paying (or causing to be paid) the Purchase Amount for such the Receivable to the Collection Account on the Business Day preceding prior to the Payment Date after such the Collection Period (or, with satisfaction of the Rating Agency Condition, on such the Payment Date). If Ford Credit is the Servicer, the Depositor may cause any Purchase Amount to be paid in accordance with Section 4.3(c).

Repurchase of Receivables Upon Breach of Representations or Warranties by the Depositor. (a) If a Responsible Person of the Depositor has actual knowledge, or receives notice from the Issuer, the Owner Trustee or the Indenture Trustee, of a breach of the representations or warranties made by the Depositor pursuant to Section 2.3 that materially and adversely affects any Receivable and such breach has not been cured in all material respects by the last day of the second full Collection Period (or, at the Depositor’s option, the first full Collection Period) after the Responsible Person obtains actual knowledge or is notified of such breach, the Depositor will repurchase such Receivable by paying remitting (or causing to be paidremitted) the Purchase Amount for such Receivable to the Collection Account on the Business Day preceding the Payment Date after such Collection Period (or, with satisfaction of the Rating Agency Condition, on such Payment Date). If Ford Credit is the Servicer, the Depositor may cause any Purchase Amount to be paid remitted any in accordance with Section 4.3(c).

Repurchase of Receivables Upon Breach of Representations or Warranties by the Depositor. (a) If a Responsible Person of the Depositor has actual knowledge, or receives notice from the Issuer, the Owner Trustee or the Indenture Trustee, of a breach of the representations or warranties made by the Depositor pursuant to Section 2.3 that materially and adversely affects any Receivable and such breach has not been cured in all material respects by the last day of the second full Collection Period (or, at the Depositor’s option, the first full Collection Period) after the Responsible Person obtains actual knowledge or is notified of such breach, the Depositor will repurchase such Receivable by paying remitting (or causing to be paidremitted) the Purchase Amount for such Receivable to the Collection Account on the Business Day preceding the Payment Date after such Collection Period (or, with satisfaction of the Rating Agency Condition, on such Payment Date). If Ford Credit is the Servicer, the Depositor may cause any Purchase Amount to be paid remitted in accordance with Section 4.3(c).