Common use of Principal Terms Clause in Contracts

Principal Terms. The principal terms of the 2023-B Exchange Note are as follows: (i) the "Exchange Note Issuance Date" is September 19, 2023; (ii) the 2023-B Exchange Note will be issued as a single class; (iii) the "Exchange Note Initial Principal Balance" for the 2023-B Exchange Note is $1,244,381,443.30; (iv) the Reference Pool for the 2023-B Exchange Note will be the 2023-B Reference Pool, as stated in Section 3.1; (v) the "Cutoff Date" for the 2023-B Reference Pool is September 1, 2023; (vi) the "Exchange Note Interest Rate" for the 2023-B Exchange Note is 6.98%; (vii) the Exchange Note Events of Default for the 2023-B Exchange Note are stated in Section 4.1; and (viii) the "Exchange Note Final Scheduled Payment Date" for the 2023-B Exchange Note is June 15, 2028.

Appears in 2 contracts

Sources: Credit and Security Agreement (Ford Credit Auto Lease Trust 2023-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2023-B)

Principal Terms. The principal terms of the 20232025-B Exchange Note are as follows: (i) the "Exchange Note Issuance Date" is September 19July 29, 20232025; (ii) the 20232025-B Exchange Note will be issued as a single class; (iii) the "Exchange Note Initial Principal Balance" for the 20232025-B Exchange Note is $1,244,381,443.301,496,185,567.01; (iv) the Reference Pool for the 20232025-B Exchange Note will be the 20232025-B Reference Pool, as stated in Section 3.1; (v) the "Cutoff Date" for the 20232025-B Reference Pool is September July 1, 20232025; (vi) the "Exchange Note Interest Rate" for the 20232025-B Exchange Note is 6.984.53%; (vii) the Exchange Note Events of Default for the 20232025-B Exchange Note are stated in Section 4.1; and (viii) the "Exchange Note Final Scheduled Payment Date" for the 20232025-B Exchange Note is June April 15, 20282030.

Appears in 2 contracts

Sources: Credit and Security Agreement (Ford Credit Auto Lease Trust 2025-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2025-B)

Principal Terms. The principal terms of the 20232024-B Exchange Note are as follows: (i) the "Exchange Note Issuance Date" is September 19July 23, 20232024; (ii) the 20232024-B Exchange Note will be issued as a single class; (iii) the "Exchange Note Initial Principal Balance" for the 20232024-B Exchange Note is $1,244,381,443.301,496,175,257.73; (iv) the Reference Pool for the 20232024-B Exchange Note will be the 20232024-B Reference Pool, as stated in Section 3.1; (v) the "Cutoff Date" for the 20232024-B Reference Pool is September July 1, 20232024; (vi) the "Exchange Note Interest Rate" for the 20232024-B Exchange Note is 6.985.19%; (vii) the Exchange Note Events of Default for the 20232024-B Exchange Note are stated in Section 4.1; and (viii) the "Exchange Note Final Scheduled Payment Date" for the 20232024-B Exchange Note is June May 15, 20282029.

Appears in 2 contracts

Sources: Credit and Security Agreement (Ford Credit Auto Lease Trust 2024-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2024-B)

Principal Terms. The principal terms of the 20232018-B Exchange Note are as follows: (i) the "Exchange Note Issuance Date" is September 1921, 20232018; (ii) the 20232018-B Exchange Note will be issued as a single class; (iii) the "Exchange Note Initial Principal Balance" for the 20232018-B Exchange Note is $1,244,381,443.301,142,907,216.49; (iv) the Reference Pool for the 20232018-B Exchange Note will be the 20232018-B Reference Pool, as stated in Section 3.1; (v) the "Cutoff Date" for the 20232018-B Reference Pool is September 1, 20232018; (vi) the "Exchange Note Interest Rate" for the 20232018-B Exchange Note is 6.983.63%; (vii) the Exchange Note Events of Default for the 20232018-B Exchange Note are stated in Section 4.1; and (viii) the "Exchange Note Final Scheduled Payment Date" for the 20232018-B Exchange Note is June May 15, 20282023.

Appears in 1 contract

Sources: Credit and Security Agreement