Common use of Book-Entry Series 20__-_ Notes Clause in Contracts

Book-Entry Series 20__-_ Notes. The Series 20__-__ Notes initially will be issued as Book-Entry Notes. On or before the Series Issuance Date, Global Notes representing each Class of Series 20__-__ Notes will be deposited with the Clearing Agency. [The Rule 144A Notes will be issued in the form of a restricted global note (the "Restricted Global Note") and the Regulation S Notes will be issued in the form of a temporary global note (the "Temporary Regulation S Global Note") and a permanent global note (the "Permanent Regulation S Global Note"), in each case, containing the applicable legends in Exhibit A. Before the last day of the Distribution Compliance Period, beneficial interests in the Regulation S Notes will be represented by the Temporary Regulation S Global Note, and on and after the last day of the Distribution Compliance Period, beneficial interests in the Regulation S Notes will be represented by the Permanent Regulation S Global Note.]

Appears in 2 contracts

Sources: Indenture Supplement (Ford Credit Floorplan LLC), Indenture Supplement (Ford Credit Floorplan LLC)