U.S. Floorplan Risk Management
FordREV
Amortization Events
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Amortization period (full turbo) will begin if any of the following events occur:
On any payment date during the revolving period (a) the trust fails to pay interest due on the notes
within five days of the payment date, (b) the required amount is not in the reserve account, (c) required
amount is not in the negative carry account, or (d) required amount is not in the accumulation account
Notes are not paid in full on the expected final payment date
Three-month rolling average annualized net losses as a percentage of aggregate principal balance of
receivables exceeds 3.50%
Three-month rolling average percentage of aggregate principal balance of receivables that are 61 days
or more delinquent exceeds 1.50%
- Adjusted pool balance is less than 50% of the principal amount of the notes
A servicer termination event occurs and is continuing
An event of default occurs and is continuing
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