Exempt Notes. The Exempt Notes specified in the Terms Annex (if any) constitute exempt securities under Section 3(a)(3) of the Act, and registration of the Exempt Notes under the Act is not required in connection with their offer, issuance, sale or delivery.
Appears in 2 contracts
Sources: Underwriting Agreement (Ford Credit Auto Receivables Two LLC), Underwriting Agreement (Ford Credit Auto Receivables Two LLC)