Regulation RR Risk Retention. Ford Credit, as Sponsor, and the Depositor agree that (i) Ford Credit will cause the Depositor to, and the Depositor will, retain the Residual Interest on the Closing Date and (ii) Ford Credit will not permit the Depositor to, and the Depositor will not, sell, transfer, finance or hedge the Residual Interest except as permitted by Regulation RR.
Appears in 64 contracts
Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2022-C), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2022-D), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2023-B)
Regulation RR Risk Retention. Ford Credit, as Sponsor, and the Depositor agree that (i) Ford Credit will cause the Depositor to, and the Depositor will, retain [the Residual Interest Interest][at least 5% of the initial Note Balance of each Class of Notes and of the Residual Interest] on the Closing Date and (ii) Ford Credit will not permit the Depositor to, and the Depositor will not, sell, transfer, finance or hedge [the Residual Interest Interest][such retained interests] except as permitted by Regulation RR.
Appears in 5 contracts
Samples: Sale and Servicing Agreement (Ford Credit Auto Receivables Two LLC), Sale and Servicing Agreement (Ford Credit Auto Receivables Two LLC), Sale and Servicing Agreement (Ford Credit Auto Receivables Two LLC)
Regulation RR Risk Retention. Ford Credit, as Sponsor, and the Depositor agree that (i) Ford Credit will cause the Depositor to, and the Depositor will, retain the Residual Retained Interest on the Closing Date and (ii) Ford Credit will not permit the Depositor to, and the Depositor will not, sell, transfer, finance or hedge the Residual Retained Interest except as permitted by Regulation RR.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2024-A)
