Perfection. The Sponsor has started procedures that will result in the perfection of a first priority security interest against the applicable Obligor in the Financed Vehicles.
Appears in 63 contracts
Sources: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2025-A), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2025-A), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2024-D)
Perfection. The Sponsor has represented that it has started procedures that will result in the perfection of a first priority security interest against the applicable each Obligor in the Financed Vehicles.
Appears in 62 contracts
Sources: Indenture (Ford Credit Auto Owner Trust 2025-A), Indenture (Ford Credit Auto Owner Trust 2025-A), Indenture (Ford Credit Auto Owner Trust 2024-D)