Subordination of Claims. The Depositor acknowledges Section 9.4 of the Credit and Security Agreement regarding the subordination of claims against the Borrowers and agrees to be bound by it as an Exchange Noteholder.
Appears in 35 contracts
Samples: Exchange Note Purchase Agreement (Ford Credit Auto Lease Trust 2018-A), Exchange Note Purchase Agreement (Ford Credit Auto Lease Trust 2021-A), Exchange Note Purchase Agreement (Ford Credit Auto Lease Trust 2019-B)