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

Repurchase of Receivables Upon Breach of Representations or Warranties by the Sponsor. (a) If a Responsible Person of the Sponsor has actual knowledge, or receives notice from the Issuer, the Depositor or the Indenture Trustee, of a breach of a representation or warranty made by the Sponsor pursuant to Section 3.2 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 option of the Sponsor, the first full Collection Period) after the Responsible Person obtains actual knowledge or is notified of such breach, the Sponsor will repurchase such Receivable by paying (or causing to be paid) the Purchase Amount 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 Sponsor may pay any Purchase Amount in accordance with Section 4.3(c) of the Sale and Servicing Agreement.

Repurchase of Receivables Upon Breach of Representations or Warranties by the Sponsor. (a) If a Responsible Person of the Sponsor has actual knowledge, or receives notice from the Issuer, the Depositor or the Indenture Trustee, of a breach of a representation or warranty made by the Sponsor pursuant to Section 3.2 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 option of the Sponsor, the first full Collection Period) after the Responsible Person obtains actual knowledge or is notified of such breach, the Sponsor will repurchase such Receivable by paying remitting (or causing to be paidremitted) the Purchase Amount 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 Sponsor may pay remit any Purchase Amount in accordance with Section 4.3(c) of the Sale and Servicing Agreement.

Repurchase of Receivables Upon Breach of Representations or Warranties by the Sponsor. (a) If a Responsible Person of the Sponsor has actual knowledge, or receives notice from the Issuer, the Depositor or the Indenture Trustee, of a breach of a representation or warranty made by the Sponsor pursuant to under Section 3.2 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 option of the Sponsor, the first full Collection Period) after the Responsible Person obtains actual knowledge or is notified of such the breach, the Sponsor will repurchase such the Receivable by paying (or causing to be paid) the Purchase Amount 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 Sponsor may pay any Purchase Amount in accordance with Section 4.3(c) of the Sale and Servicing Agreement.

Repurchase of Receivables Upon Breach of Representations or Warranties by the Sponsor. (a) If a Responsible Person of the Sponsor has actual knowledge, or receives notice from the Issuer, the Depositor or the Indenture Trustee, of a breach of a representation or warranty made by the Sponsor pursuant to Section 3.2 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 option of the Sponsor, the first full Collection Period) after the Responsible Person obtains actual knowledge or is notified of such breach, the Sponsor will repurchase such Receivable by paying remitting (or causing to be paidremitted) the Purchase Amount 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 Sponsor may pay remit any Purchase Amount in accordance with Section 4.3(c) of the Sale and Servicing Agreement.