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 71 contracts
Sources: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2026-B), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2026-B), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2026-A)
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 70 contracts
Sources: Indenture (Ford Credit Auto Owner Trust 2026-B), Indenture (Ford Credit Auto Owner Trust 2026-B), Indenture (Ford Credit Auto Owner Trust 2026-A)