Common use of Regulation RR Risk Retention Clause in Contracts

Regulation RR Risk Retention. Ford Credit, as Sponsor, has complied and on the Closing Date will comply with all requirements imposed on the “sponsor of a securitization transaction” according to Regulation RR under the Exchange Act (17 C.F.R. §246.1, et seq.) (“Regulation RR”) in the manner described in the Preliminary Prospectus under the heading “Credit Risk Retention.” Ford Credit determined the fair value of the residual interest disclosed in the Preliminary Prospectus under the heading “Credit Risk Retention,” and will determine the fair value of the residual interest on the Closing Date as required by Rule 4(c)(1)(ii) of Regulation RR, based on its own valuation methodology, inputs and assumptions and is solely responsible for them.

Regulation RR Risk Retention. Ford Credit, as Sponsor, has complied complied, and on the Closing Date will comply comply, with all requirements imposed on the “"sponsor of a securitization transaction” " according to Regulation RR under the Exchange Act (17 C.F.R. §246.1, et seq.) (“"Regulation RR”") in the manner described in the Preliminary Prospectus under the heading “"Credit Risk Retention.” " Ford Credit determined the fair value of the residual interest disclosed in the Preliminary Prospectus under the heading “"Credit Risk Retention,” " and will determine the fair value of the residual interest on the Closing Date as required by Rule 4(c)(1)(ii) of Regulation RR, based on its own valuation methodology, inputs and assumptions and is solely responsible for them.

Regulation RR Risk Retention. Ford Credit, as Sponsor, has complied and on the Closing Date will comply with all requirements imposed on the “"sponsor of a securitization transaction” " according to Regulation RR under the Exchange Act (17 C.F.R. §246.1, et seq.) (“"Regulation RR”") in the manner described in the Preliminary Prospectus under the heading “"Credit Risk Retention.” " Ford Credit determined the fair value of the residual interest disclosed in the Preliminary Prospectus under the heading “"Credit Risk Retention,” " and will determine the fair value of the residual interest on the Closing Date as required by Rule 4(c)(1)(ii) of Regulation RR, based on its own valuation methodology, inputs and assumptions and is solely responsible for them.

Regulation RR Risk Retention. Ford Credit, as Sponsor, has complied and on the Closing Date will comply with all requirements imposed on the “sponsor of a securitization transaction” according to Regulation RR under the Exchange Act (17 C.F.R. §246.1, et seq.) (“Regulation RR”) in the manner described in the Preliminary Prospectus under the heading “Credit Risk Retention.” [Ford Credit determined the fair value of the residual interest disclosed in the Preliminary Prospectus under the heading “Credit Risk Retention,” and will determine the fair value of the residual interest on the Closing Date as required by Rule 4(c)(1)(ii) of Regulation RR, based on its own valuation methodology, inputs and assumptions and is solely responsible for them.]

Regulation RR Risk Retention. Ford Credit, as Sponsor, has complied and on the Closing Date will comply with all requirements imposed on the “sponsor of a securitization transaction” according to Regulation RR under the Exchange Act (17 C.F.R. §246.1, et seq.) (“Regulation RR”) in the manner described in the Preliminary Prospectus under the heading “Credit Risk Retention.” Ford Credit determined the fair value of the residual interest Residual Interest disclosed in the Preliminary Prospectus under the heading “Credit Risk Retention,” and will determine the fair value of the residual interest Residual Interest on the Closing Date as required by Rule 4(c)(1)(ii) of Regulation RR, based on its own valuation methodology, inputs and assumptions and is solely responsible for themthe valuation methodology, inputs and assumptions.

Regulation RR Risk Retention. Ford Credit, as Sponsor, has complied and on the Closing Date will comply with all requirements imposed on the “"sponsor of a securitization transaction” " according to Regulation RR under the Exchange Act (17 C.F.R. §246.1, et seq.) (“"Regulation RR”") in the manner described in the Preliminary Prospectus under the heading “"Credit Risk Retention.” " [Ford Credit determined the fair value of the residual interest disclosed in the Preliminary Prospectus under the heading “"Credit Risk Retention,” " and will determine the fair value of the residual interest on the Closing Date as required by Rule 4(c)(1)(ii) of Regulation RR, based on its own valuation methodology, inputs and assumptions and is solely responsible for them.]