Document:

EXHIBIT 10.9

 

 

 

TITLING COMPANY

ACCOUNT CONTROL AGREEMENT

 

 

 

among

 

 

 

CAB EAST LLC and

CAB WEST LLC,

as Grantors

 

 

______________________________,

as Secured Party

 

 

 

and

 

 

 

______________________________,

as Financial Institution

 

 

Dated as of __________, 20__

 

 

 

     

     

    

 

TABLE OF CONTENTS

 

	ARTICLE I USAGE AND DEFINITIONS	1
	Section 1.1.	Usage and Definitions	1
	 	 	 
	ARTICLE II ESTABLISHMENT OF COLLATERAL
    ACCOUNTS	1
	Section 2.1.	Description of Accounts	1
	Section 2.2.	Account Changes	2
	Section 2.3.	Account Types	2
	Section 2.4.	Securities Accounts	2
	 	 	 
	ARTICLE III SECURED PARTY CONTROL	2
	Section 3.1.	Control of Collateral Accounts	2
	Section 3.2.	Investment Instructions	2
	Section 3.3.	Conflicting Orders or Instructions	2
	 	 	 
	ARTICLE IV SUBORDINATION OF LIEN;
    WAIVER OF SET-OFF 	3
	Section 4.1.	Subordination	3
	Section 4.2.	Set-off and Recoupment	3
	 	 	 
	ARTICLE V REPRESENTATIONS, WARRANTIES
    AND COVENANTS	3
	Section 5.1.	Financial Institution's Representations and Warranties	3
	Section 5.2.	Financial Institution's Covenants	4
	 	 	 
	ARTICLE VI OTHER AGREEMENTS	4
	Section 6.1.	Location of Financial Institution	4
	Section 6.2.	Reliance by Financial Institution	4
	Section 6.3.	Termination and Replacement of Financial Institution	4
	Section 6.4.	No Petition	4
	Section 6.5.	Limitation of Liability	5
	Section 6.6.	Conflict With Other Agreement	5
	Section 6.7.	Termination	5
	 	 	 
	ARTICLE VII MISCELLANEOUS	5
	Section 7.1.	Amendment	5
	Section 7.2.	Benefit of Agreement	6
	Section 7.3.	Notices	6
	Section 7.4.	GOVERNING LAW	6
	Section 7.5.	Submission to Jurisdiction	6
	Section 7.6.	WAIVER OF JURY TRIAL	6
	Section 7.7.	No Waiver; Remedies	6
	Section 7.8.	Severability	7
	Section 7.9.	Headings	7
	Section 7.10.	Counterparts	7

 

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TITLING COMPANY ACCOUNT CONTROL AGREEMENT, dated as
of __________, 20__ (this "Agreement"), among CAB EAST LLC, a Delaware limited liability company, and CAB WEST LLC,
a Delaware limited liability company, each as a grantor (together, the "Grantors"), _______________________, a ____________________,
not in its individual capacity but solely as Indenture Trustee for the benefit of the Noteholders (in this capacity, the "Secured
Party"), and _________________________, a ____________________, in its capacity as both a "securities intermediary"
as defined in Section 8-102 of the UCC and a "bank" as defined in Section 9-102 of the UCC (in these capacities,
the "Financial Institution").

 

BACKGROUND

 

The Grantors are the borrowers under an Exchange Note
that is part of a securitization transaction in which the Issuer will issue the Notes under an Indenture and the Secured Party will hold
funds in bank accounts for the benefit of the Noteholders.

 

The parties are entering into this Agreement to perfect
the security interest in the bank accounts.

 

The parties agree as follows:

 

ARTICLE I

USAGE AND DEFINITIONS

 

Section 1.1.          Usage
and Definitions. Capitalized terms used but not defined in this Agreement are defined in Appendix 1 to the 20__-__ Exchange Note
Supplement, dated as of __________, 20__ (the "Exchange Note Supplement"), to the Fourth Amended and Restated Credit
and Security Agreement, dated as of July 22, 2005, as amended and restated as of June 4, 2021 (the "Credit and Security
Agreement"), among the CAB East LLC and CAB West LLC, as Borrowers, U.S. Bank National Association, as Administrative Agent,
HTD Leasing LLC, as Collateral Agent, and Ford Motor Credit Company LLC, as Lender and Servicer, or in Appendix A to the Credit and Security
Agreement. Appendix 1 and Appendix A also contain usage rules that apply to this Agreement. Appendix 1 and Appendix A are incorporated
by reference into this Agreement. References to the "UCC" mean the Uniform Commercial Code as in effect in the State
of New York.

 

ARTICLE II

ESTABLISHMENT OF COLLATERAL ACCOUNTS

 

Section 2.1.          Description
of Accounts. The Financial Institution has established the following accounts (each, a "Collateral Account"):

 

"Exchange Note
Collection Account – _____________________ as Indenture Trustee, as secured party for Ford Credit Auto Lease Trust 20__-__"
with account number _______; and

 

"Reserve Account
 – _____________________ as Indenture Trustee, as secured party for Ford Credit Auto Lease Trust 20__-__" with account number
_______.

 

    

     

    

 

Section 2.2.          Account
Changes. Neither the Financial Institution nor the Grantors will change the name or account number of a Collateral Account without
the consent of the Secured Party. The Financial Institution will promptly notify the Servicer of any changes. This Agreement will apply
to each successor account to a Collateral Account, which will also be a Collateral Account.

 

Section 2.3.          Account
Types. The Financial Institution agrees that each Collateral Account is, and will be maintained as, either a "securities account"
(as defined in Section 8-501 of the UCC) or a "deposit account" (as defined in Section 9-102(a)(29) of the UCC).

 

Section 2.4.          Securities
Accounts. If a Collateral Account is a securities account, the Financial Institution agrees that:

 

(a)            Financial
Assets. It will promptly credit each item of property (whether cash, investment property, security, instrument or other financial
asset) delivered to the Financial Institution under the Indenture to the Collateral Account and treat each item of property as a "financial
asset" (within the meaning of Section 8-102(a)(9) of the UCC); and

 

(b)            Registration
and Indorsement. It will ensure that all financial assets (other than cash) credited to the Collateral Account are registered in
the name of the Financial Institution, indorsed to the Financial Institution or in blank or credited to another securities account maintained
in the name of the Financial Institution and that no financial asset credited to the Collateral Account is registered in the name of
a Grantor, payable to the order of a Grantor or specially indorsed to a Grantor unless it has been indorsed to the Financial Institution
or in blank.

 

ARTICLE III

SECURED PARTY CONTROL

 

Section 3.1.          Control
of Collateral Accounts. To establish "control" of the Collateral Accounts by the Secured Party under Sections 9-104 and
9-106 of the UCC, the Financial Institution agrees to comply with any order or instruction from the Secured Party directing the deposit,
withdrawal, transfer or redemption of the cash or other financial assets credited to a Collateral Account (a "Secured Party Order")
without the need for consent by the Grantor or any other Person.

 

Section 3.2.          Investment
Instructions. If (a) the Financial Institution has not received a Secured Party Order for the investment of funds in a Collateral
Account by 11:00 a.m. New York time (or another time agreed to by the Financial Institution) on the Business Day before a Payment
Date or (b) the Financial Institution receives notice from the Indenture Trustee that a Default or Event of Default has occurred
and is continuing, the Financial Institution will invest and reinvest funds in the Collateral Account according to the last investment
instruction received, if any. If no prior investment instructions have been received or if the instructed investments are no longer available
or permitted, the Indenture Trustee will notify the Servicer and request new investment instructions, and the funds will remain uninvested
until new investment instructions are received.

 

Section 3.3.          Conflicting
Orders or Instructions. If the Financial Institution receives conflicting orders or instructions from the Secured Party and the Grantors
or any other Person,

 

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the Financial Institution will follow the orders or instructions of the
Secured Party and not the Grantors or such other Person.

 

ARTICLE IV

SUBORDINATION OF LIEN; WAIVER OF SET-OFF

 

Section 4.1.          Subordination.
If the Financial Institution has, or later obtains, a security interest in a Collateral Account (or any portion of a Collateral Account),
the Financial Institution agrees that the security interest will be subordinate to the security interest of the Secured Party.

 

Section 4.2.          Set-off
and Recoupment. The cash, investment property, security, instrument or other financial assets credited to a Collateral Account will
not be subject to deduction, set-off, recoupment, banker's lien, or other right in favor of a Person other than the Secured Party. However,
the Financial Institution may set off (a) the customary fees and expenses for the routine maintenance and operation of the Collateral
Account due to the Financial Institution, (b) the face amount of checks credited to the Collateral Account but subsequently returned
unpaid due to uncollected or insufficient funds and (c) advances made to settle an investment of funds in the Collateral Account.

 

ARTICLE V

REPRESENTATIONS, WARRANTIES AND COVENANTS

 

Section 5.1.          Financial
Institution's Representations and Warranties. The Financial Institution represents and warrants to the Grantors and the Secured Party
as follows:

 

(a)            Enforceability.
This Agreement is the legal, valid and binding obligation of the Financial Institution.

 

(b)            No
Agreements with Grantors. There are no agreements between the Financial Institution and the Grantors relating to a Collateral Account
other than this Agreement, the Indenture and the other Transaction Documents.

 

(c)            No
Other Agreements. The Financial Institution has not entered into an agreement relating to a Collateral Account in which it has agreed
to comply with "entitlement orders" (as defined in Section 8-102(a)(8) of the UCC) or "instructions" (within
the meaning of Section 9-104 of the UCC) of any Person other than the Secured Party.

 

(d)            No
Limitations. The Financial Institution has not entered into an agreement limiting or conditioning the Financial Institution's obligation
to comply with any Secured Party Order.

 

(e)            No
Liens. Except for the claims and interests of the Secured Party and the Grantors, the Financial Institution does not know of a lien
on, or claim to, or interest in, a Collateral Account or in the cash or other financial assets credited to a Collateral Account.

 

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Section 5.2.          Financial
Institution's Covenants.

 

(a)            Statements,
Confirmations and Other Correspondence. The Financial Institution will promptly deliver copies of statements, confirmations and correspondence
about the Collateral Accounts and the cash or other financial assets credited to a Collateral Account to the Grantors and the Secured
Party.

 

(b)            Notice
of Claim. If a Person asserts a lien, encumbrance or claim against a Collateral Account (or in the cash or other financial assets
credited to a Collateral Account), the Financial Institution will promptly notify the Secured Party.

 

(c)            Negative
Covenants. Until the termination of this Agreement, the Financial Institution will not enter into (i) an agreement relating
to a Collateral Account in which it agrees to comply with entitlement orders or instructions of any Person other than the Secured Party
or (ii) an agreement limiting or conditioning the Financial Institution's obligation to comply with Secured Party Orders.

 

ARTICLE VI

OTHER AGREEMENTS

 

Section 6.1.          Location
of Financial Institution.  For purposes of the UCC, New York will be the location of (i) the bank for purposes of Sections 9-301,
9-304 and 9-305 of the UCC and (ii) the securities intermediary for purposes of Sections 9-301 and 9-305 and Section 8-110
of the UCC.

 

Section 6.2.          Reliance
by Financial Institution. The Financial Institution is not obligated to investigate or inquire whether the Secured Party may deliver
a Secured Party Order. The Financial Institution may rely on communications (including Secured Party Orders) believed by it in good faith
to be genuine and given by the proper party.

 

Section 6.3.          Termination
and Replacement of Financial Institution. The Financial Institution may terminate its rights and obligations under this Agreement
if the Secured Party resigns or is removed as Indenture Trustee under the Indenture. The Grantors may terminate the rights and obligations
of the Financial Institution if the Financial Institution ceases to be a Qualified Institution. No termination of the Financial Institution
will be effective until new Collateral Accounts are established with, and the cash and other financial assets credited to the Collateral
Accounts are transferred to, another securities intermediary who has agreed to accept the obligations of the Financial Institution under
this Agreement or a similar agreement.

 

Section 6.4.          No
Petition. Each party agrees that, before the date that is one year and one day (or, if longer, any applicable preference period)
after the payment in full of (a) all Secured Obligations, including all Exchange Notes, and any other Securities, (b) all securities
issued by the Depositor or by a trust for which the Depositor was a depositor or (c) the Notes, it will not start or pursue against,
or join any other Person in starting or pursuing against, (i) either Titling Company or either Holding Company, (ii) the Depositor
or (iii) the Issuer, respectively, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other proceedings
under any bankruptcy or similar law. This Section 6.4 will survive the termination of this Agreement.

 

    4

     

    

 

Section 6.5.          Limitation
of Liability.

 

(a)            Financial
Institution. The Financial Institution will not be liable under this Agreement, except for (i) its own willful misconduct, bad
faith or negligence or (ii) breach of its representations and warranties in this Agreement. The Financial Institution will not be
liable for special, indirect or consequential losses or damages (including lost profit), even if the Financial Institution has been advised
of the likelihood of the loss or damage and regardless of the form of action.

 

(b)            Secured
Party. In performing its obligations under this Agreement, the Secured Party is subject to, and entitled to the benefits of, the
terms of the Indenture that apply to the Indenture Trustee.

 

Section 6.6.          Conflict
With Other Agreement. If there is a conflict between this Agreement and any other agreement relating to a Collateral Account, this
Agreement will govern.

 

Section 6.7.          Termination.
This Agreement will terminate on the date the security interests of the Secured Party in each Collateral Account are terminated under
the Indenture and the Secured Party has notified the Financial Institution of the termination of the security interest. The termination
of this Agreement will not terminate a Collateral Account or change the obligations of the Financial Institution to the Grantors relating
to a Collateral Account.

 

ARTICLE VII

MISCELLANEOUS

 

Section 7.1.          Amendment.

 

(a)            Amendments.
The parties may amend this Agreement:

 

(i)            to
clarify an ambiguity, correct an error or correct or supplement any term of this Agreement that may be defective or inconsistent with
the other terms of this Agreement [or any prospectus or offering memorandum related to the Notes], in each case without the consent of
the Noteholders or any other Person;

 

(ii)           to
add, change or eliminate terms of this Agreement, in each case, without the consent of the Noteholders or any other Person, if the Administrator
delivers an Officer's Certificate to the Grantor, the Owner Trustee and the Indenture Trustee stating that the amendment will not have
a material adverse effect on the Noteholders; or

 

(iii)          to
add, change or eliminate terms of this Agreement for which an Officer's Certificate is not or cannot be delivered under Section 7.1(a)(ii),
with the consent of the Noteholders of a majority of the Note Balance of each Class of Notes Outstanding (with each affected Class voting
separately, except that all Noteholders of Class A Notes will vote together as a single class).

 

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(b)            Notice
of Amendments. The Administrator will notify the Rating Agencies in advance of any amendment. Promptly after the execution of an
amendment, the Administrator will deliver a copy of the amendment to the Rating Agencies.

 

Section 7.2.          Benefit
of Agreement. This Agreement is for the benefit of and will be binding on the parties and their permitted successors and assigns.
No other Person will have any right or obligation under this Agreement.

 

Section 7.3.          Notices.

 

(a)            Notices
to Parties. Notices, requests, directions, consents, waivers or other communications to or from the parties must be in writing and
will be considered received by the recipient:

 

(i)            for
overnight mail, on delivery or, for registered first class mail, postage prepaid, three days after deposit in the mail properly addressed
to the recipient;

 

(ii)           for
a fax, when receipt is confirmed by telephone, reply email or reply fax from the recipient;

 

(iii)          for
an email, when receipt is confirmed by telephone or reply email from the recipient; and

 

(iv)          for
an electronic posting to a password-protected website to which the recipient has access, on delivery of an email (without the requirement
of confirmation of receipt) stating that the electronic posting has been made.

 

(b)            Notice
Addresses. A notice, request, direction, consent, waiver or other communication must be addressed to the recipient at its address
stated in Schedule A to the Indenture, which address the party may change by notifying the other parties.

 

Section 7.4.          GOVERNING
LAW. THIS AGREEMENT AND EACH COLLATERAL ACCOUNT WILL BE GOVERNED BY AND CONSTRUED ACCORDING TO THE LAWS OF THE STATE OF NEW YORK.

 

Section 7.5.          Submission
to Jurisdiction. Each party submits to the nonexclusive jurisdiction of the United States District Court for the Southern District
of New York and of any New York State Court sitting in New York, New York for legal proceedings relating to this Agreement. Each party
irrevocably waives, to the fullest extent permitted by law, any objection that it may now or in the future have to the venue of a proceeding
brought in such a court and any claim that the proceeding was brought in an inconvenient forum.

 

Section 7.6.          WAIVER
OF JURY TRIAL. EACH PARTY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, THE RIGHT TO TRIAL BY JURY IN LEGAL PROCEEDINGS
RELATING TO THIS AGREEMENT.

 

Section 7.7.          No
Waiver; Remedies. No party's failure or delay in exercising a power, right or remedy under this Agreement will operate as a waiver.
No single or partial exercise of a

 

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power, right or remedy will preclude any other or further exercise of
the power, right or remedy or the exercise of any other power, right or remedy. The powers, rights and remedies under this Agreement
are in addition to any powers, rights and remedies under law.

 

Section 7.8.          Severability.
If a part of this Agreement is held invalid, illegal or unenforceable, then it will be deemed severable from the remaining Agreement
and will not affect the validity, legality or enforceability of the remaining Agreement.

 

Section 7.9.          Headings.
The headings in this Agreement are included for convenience and will not affect the meaning or interpretation of this Agreement.

 

Section 7.10.       Counterparts.
This Agreement may be executed in multiple counterparts. Each counterpart will be an original and all counterparts will together be one
document.

 

[Remainder of Page Left Blank]

 

    7

     

    

 

EXECUTED BY:

 

	 	CAB EAST LLC,
	 	 	as a Grantor
	 	 
	 	 
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	 
	 	 
	 	CAB WEST LLC,
	 	 	as a Grantor
	 	 
	 	 
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	 
	 	 
	 	 	,
	 	 	not in its individual capacity but solely as Indenture Trustee for the benefit of the Noteholders, as Secured Party
	 	 
	 	 
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	 
	 	 
	 	 	 	,
	 	 	as Financial Institution
	 	 
	 	 
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

[Signature
Page to Titling Company Account Control Agreement]EXHIBIT 10.10

  

 

ASSET REPRESENTATIONS REVIEW AGREEMENT

 

 

among

 

 

FORD CREDIT AUTO LEASE TRUST 20__-__,

as Issuer

 

 

FORD MOTOR CREDIT COMPANY LLC,

as Servicer

 

 

and

 

 

___________________,

as Asset Representations Reviewer

 

 

Dated as of ______, 20__

 

 

    

    

    

 

TABLE OF CONTENTS

 

	ARTICLE I USAGE AND Definitions 	1
	Section 1.1.	Usage and Definitions	1
	Section 1.2.	Additional Definitions	1
	Section 1.3.	Review Materials and Test Definitions	2
	ARTICLE II Engagement of ASSET REPRESENTATIONS REVIEWER 	2
	Section 2.1.	Engagement; Acceptance	2
	Section 2.2.	Confirmation of Status	2
	ARTICLE III Asset Representations Review PROCESS 	3
	Section 3.1.	Review Notices	3
	Section 3.2.	Identification of Review Leases	3
	Section 3.3.	Review Materials	3
	Section 3.4.	Performance of Reviews	3
	Section 3.5.	Review Reports	4
	Section 3.6.	Review Representatives	5
	Section 3.7.	Dispute Resolution	5
	Section 3.8.	Limitations on Review Obligations	5
	ARTICLE IV Asset Representations Reviewer 	6
	Section 4.1.	Representations and Warranties	6
	Section 4.2.	Covenants	7
	Section 4.3.	Fees and Expenses	7
	Section 4.4.	Limitation on Liability	8
	Section 4.5.	Indemnification by Asset Representations Reviewer	8
	Section 4.6.	Indemnification of Asset Representations Reviewer	9
	Section 4.7.	Review of Asset Representations Reviewer's Records	9
	Section 4.8.	Delegation of Obligations	10
	Section 4.9.	Confidential Information	10
	Section 4.10.	Personally Identifiable Information	11
	ARTICLE V RESIGNATION AND REMOVAL; SUCCESSOR ASSET REPRESENTATIONS REVIEWER 	13
	Section 5.1.	Eligibility Requirements for Asset Representations Reviewer	13
	Section 5.2.	Resignation and Removal of Asset Representations Reviewer	13
	Section 5.3.	Successor Asset Representations Reviewer	14
	Section 5.4.	Merger, Consolidation or Succession	14
	ARTICLE VI OTHER AGREEMENTS 	15
	Section 6.1.	Independence of Asset Representations Reviewer	15
	Section 6.2.	No Petition	15
	Section 6.3.	Limitation of Liability of Owner Trustee	15
	Section 6.4.	Termination of Agreement	15
	ARTICLE VII Miscellaneous Provisions 	15
	Section 7.1.	Amendments	15
	Section 7.2.	Assignment; Benefit of Agreement; Third Party Beneficiaries	16
	Section 7.3.	Notices	16
	Section 7.4.	GOVERNING LAW	17
	Section 7.5.	Submission to Jurisdiction	17
	Section 7.6.	WAIVER OF JURY TRIAL	17

 

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	Section 7.7.	No Waiver; Remedies	17
	Section 7.8.	Severability	17
	Section 7.9.	Headings	17
	Section 7.10.	Counterparts	17

 

Schedule A – Review Materials

Schedule B – Representations and Warranties and Tests

 

    

    

    

 

ASSET REPRESENTATIONS REVIEW AGREEMENT, dated as of
______, 20__ (this "Agreement"), among FORD CREDIT AUTO LEASE TRUST 20__-__, a Delaware statutory trust, as Issuer, FORD
MOTOR CREDIT COMPANY LLC, a Delaware limited liability company, as Servicer, and ___________________, a ___________________, as Asset
Representations Reviewer.

 

BACKGROUND

 

In the normal course of its business, the Titling Companies
purchase leases and leased cars, light trucks and utility vehicles from motor vehicle dealers.

 

In connection with a securitization transaction sponsored
by Ford Credit, the Titling Companies issued a 20__-__ Exchange Note to Ford Credit that is secured by a 20__-__ Reference Pool of Leases
and Leased Vehicles. Ford Credit sold the 20__-__ Exchange Note to the Depositor, who sold it to the Issuer.

 

The Issuer has granted a security interest in the 20__-__
Exchange Note to the Indenture Trustee, for the benefit of the Secured Parties, as security for the Notes issued by the Issuer under the
Indenture.

 

The Issuer has determined to engage the Asset Representations
Reviewer to perform reviews of certain Leases for compliance with the representations and warranties made by Ford Credit and the Depositor
about the Leases in the 20__-__ Reference Pool.

 

The parties agree as follows.

 

ARTICLE I

USAGE AND Definitions

 

Section 1.1.        Usage
and Definitions. Capitalized terms used but not defined in this Agreement are defined in Appendix 1 to the 20__-__ Exchange Note Supplement,
dated as of __________, 20__ (the "Exchange Note Supplement"), to the Fourth Amended and Restated Credit and Security
Agreement, dated as of July 22, 2005, as amended and restated as of June 4, 2021 (the "Credit and Security Agreement"),
among the CAB East LLC and CAB West LLC, as Borrowers, U.S. Bank National Association, as Administrative Agent, HTD Leasing LLC, as Collateral
Agent, and Ford Motor Credit Company LLC, as Lender and Servicer, or in Appendix A to the Credit and Security Agreement. Appendix 1 and
Appendix A also contain usage rules that apply to this Agreement. Appendix 1 and Appendix A are incorporated by reference into this
Agreement.

 

Section 1.2.        Additional
Definitions. The following terms have the meanings given below:

 

"Confidential Information" has the
meaning stated in Section 4.9(b).

 

"Contract" has the meaning stated
in Schedule A.

 

"Information Recipient" has the meaning
stated in Section 4.9(a).

 

    

    

    

 

"Indemnified Parties" has the meaning
stated in Section 4.6(a).

 

"Issuer PII" has the meaning stated
in Section 4.10(a).

 

"Personally Identifiable Information"
or "PII" has the meaning stated in Section 4.10(a).

 

"Review" means the performance by
the Asset Representations Reviewer of the testing procedures for each Test and each Review Lease according to Section 3.4.

 

"Review Fee" has the meaning stated
in Section 4.3(b).

 

"Review Materials" means, for a Review
and a Review Lease, the documents and other materials listed in Schedule A, as applicable.

 

"Review Report" means, for a Review,
the report of the Asset Representations Reviewer as described in Section 3.5.

 

"Test" has the meaning stated in Section 3.4(a).

 

"Test Complete" has the meaning stated
in Section 3.4(c).

 

"Test Fail" has the meaning stated
in Section 3.4(a).

 

"Test Pass" has the meaning stated
in Section 3.4(a).

 

Section 1.3.        Review
Materials and Test Definitions. Capitalized terms or terms or phrases in quotation marks used in the Tests, if not defined in Appendix
1 to the Exchange Note Supplement, Appendix A to the Credit and Security Agreement or in this Agreement, including Schedule A to this
Agreement, refer to sections, titles or terms in the Contract or other Review Materials.

 

ARTICLE II

Engagement of ASSET REPRESENTATIONS REVIEWER

 

Section 2.1.        Engagement;
Acceptance. The Issuer engages __________ to act as the Asset Representations Reviewer for the Issuer. __________ accepts the engagement
and agrees to perform the obligations of the Asset Representations Reviewer on the terms in this Agreement.

 

Section 2.2.        Confirmation
of Status. The parties confirm that the Asset Representations Reviewer is not responsible for (a) reviewing the Leases for compliance
with the representations and warranties under the Transaction Documents, except as described in this Agreement, or (b) determining
whether noncompliance with the representations or warranties constitutes a breach of the Transaction Documents.

 

    2

    

    

 

ARTICLE III

Asset Representations Review PROCESS

 

Section 3.1.        Review
Notices. On receipt of a Review Notice from the Indenture Trustee according to Section 7.2 of the Indenture, the Asset Representations
Reviewer will start a Review. The Asset Representations Reviewer will not be obligated to start a Review until a Review Notice is received.

 

Section 3.2.        Identification
of Review Leases. Within ten Business Days after receipt of a Review Notice, the Servicer will deliver to the Asset Representations
Reviewer and the Indenture Trustee a list of the Review Leases.

 

Section 3.3.        Review
Materials.

 

(a)          Access
to Review Materials. The Servicer will give the Asset Representations Reviewer access to the Review Materials for all of the Review
Leases within 60 days after receipt of the Review Notice in one or more of the following ways: (i) by providing access to the Servicer's
receivables systems, either remotely or at an office of the Servicer, (ii) by electronic posting to a password-protected website
to which the Asset Representations Reviewer has access, (iii) by providing originals or photocopies at an office of the Servicer
where the Lease Files are located or (iv) in another manner agreed by the Servicer and the Asset Representations Reviewer. The Servicer
may redact or remove Personally Identifiable Information from the Review Materials without changing the meaning or usefulness of the Review
Materials for the Review.

 

(b)          Missing
or Insufficient Review Materials. The Asset Representations Reviewer will review the Review Materials to determine if any Review Materials
are missing or insufficient for the Asset Representations Reviewer to perform any Test. If the Asset Representations Reviewer determines
any missing or insufficient Review Materials, the Asset Representations Reviewer will notify the Servicer promptly, and in any event no
less than 20 days before completing the Review. The Servicer will have 15 days to give the Asset Representations Reviewer access to the
missing Review Materials or other documents or information to correct the insufficiency. If the missing Review Materials or other documents
have not been provided by the Servicer within 15 days, the related Review Receivable will have a Test Fail for the Test or Tests that
require use of the missing or insufficient Review Materials. If the Contract for any Review Receivable is not provided or is illegible,
the Asset Representations Reviewer will be unable to perform any Tests and the related Review Lease will have an overall Test Fail for
all Tests. In either of these cases, the Test or Tests will be considered completed and the Review Report will report a Test Fail for
the related Review Lease or applicable representation or warranty and the reason for the Test Fail.

 

Section 3.4.        Performance
of Reviews.

 

(a)          Test
Procedures. For a Review, the Asset Representations Reviewer will perform for each Review Lease the procedures listed under "Tests"
in Schedule B for each representation and warranty (each, a "Test"), using the Review Materials necessary to perform
the procedures as stated in the Test. For each Test and Review Lease, the Asset Representations Reviewer will

 

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determine if the Test has been satisfied (a "Test Pass")
or if the Test has not been satisfied (a "Test Fail"). If a Test or part of a Test cannot be performed for a Review Lease
because the Test circumstances do not apply to the Review Lease, the Test will be considered to be satisfied and will be reported as a
Test Pass.

 

(b)          Review
Period. The Asset Representations Reviewer will complete the Review of all of the Review Leases within 60 days after receiving access
to the Review Materials under Section 3.3(a). However, if missing or additional Review Materials are provided to the Asset Representations
Reviewer under Section 3.3(b), the Review period will be extended for an additional 30 days.

 

(c)          Completion
of Review for Certain Review Leases. Following the delivery of the list of the Review Leases and before the delivery of the Review
Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Review Lease is paid in
full by the Lessee or reallocated from the 20__-__ Reference Pool by the Sponsor, the Depositor or the Servicer according to the Transaction
Documents. If such a notice is received, the Asset Representations Reviewer will immediately terminate all Tests of such Lease and the
Review of the Lease will be considered complete (a "Test Complete"). In this case, the Asset Representations Reviewer
will report a Test Complete for the Lease on the Review Report and the related reason.

 

(d)          Previously
Reviewed Lease; Duplicative Tests. If a Review Lease was included in a prior Review, the Asset Representations Reviewer will not perform
any Tests on it, but will report the results of the previous Tests in the Review Report for the current Review and note that the results
relate to a prior Review. If the same Test is required for more than one representation or warranty listed on Schedule B, the Asset Representations
Reviewer will only perform the Test once for each Review Lease but will report the results of the Test for each applicable representation
and warranty on the Review Report.

 

(e)          Termination
of Review. If a Review is in process and the Notes will be paid in full on the next Payment Date, the Servicer will notify the Asset
Representations Reviewer and the Indenture Trustee no less than ten days before that Payment Date. On receipt of notice, the Asset Representations
Reviewer will terminate the Review immediately and will not be obligated to deliver a Review Report.

 

Section 3.5.        Review
Reports. Within five days after the end of the Review period under Section 3.4(b), the Asset Representations Reviewer will deliver
to the Sponsor, the Depositor, the Issuer, the Servicer and the Indenture Trustee a Review Report indicating for each Review Lease whether
there was a Test Pass or a Test Fail for each Test, or whether the Review Lease was an overall Test Fail (for a missing or illegible Contract)
or a Test Complete. For each Test Fail, overall Test Fail or Test Complete, the Review Report will indicate the related reason. The Review
Report will contain a summary of the Review results to be included in the Issuer's Form 10-D report for the Collection Period in
which the Review Report is received. The Asset Representations Reviewer will ensure that the Review Report does not contain any Issuer
PII. On reasonable request of the Servicer, the Asset Representations Reviewer will provide additional detail on the Test results.

 

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Section 3.6.        Review
Representatives.

 

(a)          Servicer
Representative. The Servicer will designate one or more representatives who will be available to assist the Asset Representations
Reviewer in performing the Review, including responding to requests and answering questions from the Asset Representations Reviewer about
the Review Materials or Tests, access to Review Materials on the Servicer's originations, receivables or other systems, obtaining missing
or insufficient Review Materials and/or providing clarification of any Review Materials or Tests.

 

(b)          Asset
Representations Reviewer Representative. The Asset Representations Reviewer will designate one or more representatives who will be
available to the Issuer and the Servicer during the performance of a Review.

 

(c)          Questions
About Review. The Asset Representations Reviewer will make appropriate personnel available to respond in writing to written questions
or requests for clarification of any Review Report from the Indenture Trustee or the Servicer until the earlier of (i) the payment
in full of the Notes and (ii) one year after the delivery of the Review Report. The Asset Representations Reviewer will not be obligated
to respond to questions or requests for clarification from a Noteholder or any other Person and will direct such Persons to submit written
questions or requests to the Indenture Trustee.

 

Section 3.7.        Dispute
Resolution. If a Lease that was Reviewed by the Asset Representations Reviewer is the subject of a dispute resolution proceeding under
Section 3.4 of the Exchange Note Sale Agreement, the Asset Representations Reviewer will participate in the dispute resolution proceeding
on request of a party to the proceeding. The reasonable expenses of the Asset Representations Reviewer for its participation in any dispute
resolution proceeding will be considered expenses of the requesting party for the dispute resolution and will be paid by a party to the
dispute resolution as determined by the mediator or arbitrator for the dispute resolution according to Section 3.4 of the Exchange
Note Sale Agreement. However, if such expenses are not paid by a party to the dispute resolution within [90] days after the end of the
proceeding, the expenses will be paid by the Issuer according to Section 4.3(d).

 

Section 3.8.        Limitations
on Review Obligations.

 

(a)          Review
Process Limitations. The Asset Representations Reviewer is not obligated to:

 

(i)            determine
whether a Delinquency Trigger has occurred or whether the required percentage of the Noteholders has voted to direct a Review under the
Indenture, and may rely on the information in any Review Notice delivered by the Indenture Trustee;

 

(ii)           determine
which Leases are subject to a Review, and may rely on the lists of Review Leases provided by the Servicer;

 

(iii)          obtain
or confirm the validity of the Review Materials, and may rely on the accuracy and completeness of the Review Materials and will have
no liability for any errors in the Review Materials;

 

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(iv)          obtain
missing or insufficient Review Materials from any party or any other source; or

 

(v)           take
any action or cause any other party to take any action under any of the Transaction Documents or otherwise to enforce any remedies against
any Person for breaches of representations or warranties about the Review Leases.

 

(b)          Testing
Procedure Limitations. The Asset Representations Reviewer will only be required to perform the testing procedures listed under "Tests"
in Schedule A, and will not be obligated to perform additional procedures on any Review Lease or to provide any information other than
a Review Report. However, the Asset Representations Reviewer may provide additional information in a Review Report about any Review Lease
that it determines in good faith to be material to the Review.

 

ARTICLE IV

Asset Representations Reviewer

 

Section 4.1.        Representations
and Warranties . The Asset Representations Reviewer represents and warrants to the Issuer as of the Closing Date:

 

(a)          Organization
and Qualification. The Asset Representations Reviewer is duly organized and validly existing as a ____________ in good standing under
the laws of ____________. The Asset Representations Reviewer is qualified as a foreign ___________ in good standing and has obtained all
necessary licenses and approvals in all jurisdictions in which the ownership or lease of its properties or the conduct of its activities
requires the qualification, license or approval, unless the failure to obtain the qualifications, licenses or approvals would not reasonably
be expected to have a material adverse effect on the Asset Representations Reviewer's ability to perform its obligations under this Agreement.

 

(b)          Power,
Authority and Enforceability. The Asset Representations Reviewer has the power and authority to execute, deliver and perform its obligations
under this Agreement. The Asset Representations Reviewer has authorized the execution, delivery and performance of this Agreement. This
Agreement is the legal, valid and binding obligation of the Asset Representations Reviewer enforceable against the Asset Representations
Reviewer, except as may be limited by insolvency, bankruptcy, reorganization or other similar laws relating to the enforcement of creditors'
rights or by general equitable principles.

 

(c)          No
Conflicts and No Violation. The completion of the transactions contemplated by this Agreement and the performance of the Asset Representations
Reviewer's obligations under this Agreement will not (i) conflict with, or be a breach or default under, any indenture, mortgage,
deed of trust, loan agreement, guarantee or similar document under which the Asset Representations Reviewer is a debtor or guarantor,
(ii) result in the creation or imposition of a Lien on the Asset Representations Reviewer's properties or assets under the terms
of any indenture, mortgage, deed of trust, loan agreement, guarantee or similar document, (iii) violate the organizational documents
of the Asset Representations Reviewer or (iv) violate a law or, to the Asset Representations Reviewer's knowledge, an order, rule or
regulation of a federal or State court, regulatory body, administrative agency or other governmental instrumentality having

 

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jurisdiction over the Asset Representations Reviewer or its properties
that applies to the Asset Representations Reviewer, which, in each case, would reasonably be expected to have a material adverse effect
on the Asset Representations Reviewer's ability to perform its obligations under this Agreement.

 

(d)          No
Proceedings. To the Asset Representations Reviewer's knowledge, there are no proceedings or investigations pending or threatened in
writing before a federal or State court, regulatory body, administrative agency or other governmental instrumentality having jurisdiction
over the Asset Representations Reviewer or its properties (i) asserting the invalidity of this Agreement, (ii) seeking to prevent
the completion of the transactions contemplated by this Agreement or (iii) seeking any determination or ruling that would reasonably
be expected to have a material adverse effect on the Asset Representations Reviewer's ability to perform its obligations under, or the
validity or enforceability of, this Agreement.

 

(e)          Eligibility.
The Asset Representations Reviewer meets the eligibility requirements in Section 5.1.

 

Section 4.2.        Covenants.
The Asset Representations Reviewer covenants and agrees that:

 

(a)          Eligibility.
It will notify the Issuer and the Servicer promptly if it no longer meets the eligibility requirements in Section 5.1.

 

(b)          Review
Systems; Personnel. It will maintain business process management and/or other systems necessary to ensure that it can perform each
Test and, on execution of this Agreement, will load each Test into these systems. The Asset Representations Reviewer will ensure that
these systems allow for each Review Lease and the related Review Materials to be individually tracked and stored as contemplated by this
Agreement. The Asset Representations Reviewer will maintain adequate staff that is properly trained to conduct Reviews as required by
this Agreement.

 

(c)          Maintenance
of Review Materials. It will maintain copies of any Review Materials, Review Reports and other documents relating to a Review, including
internal correspondence and work papers, for a period of two years after the termination of this Agreement.

 

Section 4.3.        Fees
and Expenses.

 

(a)          Annual
Fee. The Issuer will, or will cause the Administrator to, pay the Asset Representations Reviewer as compensation for acting as the
Asset Representations Reviewer under this Agreement an annual fee separately agreed to by the Issuer and the Asset Representations Reviewer.
The annual fee will be paid as agreed by the Issuer and the Asset Representations Reviewer until this Agreement is terminated.

 

(b)          Review
Fee. Following the completion of a Review and the delivery to the Indenture Trustee of the Review Report, or the termination of a
Review according to Section 3.4(e), and the delivery to the Servicer of a detailed invoice, the Asset Representations Reviewer will
be entitled to a fee of [up to] $_____ for each Review Lease for which the Review was

 

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started (the "Review Fee"). However, no Review Fee will
be paid for any Review Lease which was included in a prior Review or for which no Tests were completed before the Asset Representations
Reviewer received notice of termination of the Review according to Section 3.4(e) or due to missing or insufficient Review Materials
under Section 3.3(b). If a detailed invoice is submitted on or before the first day of a month, the Review Fee will be paid by the
Issuer starting on or before the Payment Date in that month. However, if the Review is terminated according to Section 3.4(e), the
Asset Representations Reviewer must submit its invoice for the Review Fee for the terminated Review no later than five Business Days before
the final Payment Date to be reimbursed no later than the final Payment Date.

 

(c)          Reimbursement
of Travel Expenses. If the Servicer provides access to the Review Materials at one of its properties, the Issuer will reimburse the
Asset Representations Reviewer for its reasonable travel expenses incurred in connection with the Review on receipt of a detailed invoice.

 

(d)          Dispute
Resolution Expenses. If the Asset Representations Reviewer participates in a dispute resolution proceeding under Section 3.7
and its reasonable expenses for participating in the proceeding are not paid by a party to the dispute resolution within [90] days after
the end of the proceeding, the Issuer will reimburse the Asset Representations Reviewer for such expenses on receipt of a detailed invoice.

 

(e)          Payments
by Issuer. All amounts payable by the Issuer under this Section 4.3 will be payable according to the priority of payments in
Section 8.2 of the Indenture.

 

Section 4.4.        Limitation
on Liability. The Asset Representations Reviewer will not be liable to any Person for any action taken, or not taken, in good faith
under this Agreement or for errors in judgment. However, the Asset Representations Reviewer will be liable for its willful misconduct,
bad faith or negligence in performing its obligations under this Agreement. In no event will the Asset Representations Reviewer be liable
for special, punitive, indirect or consequential losses or damages (including lost profit), even if the Asset Representations Reviewer
has been advised of the likelihood of the loss or damage and regardless of the form of action.

 

Section 4.5.        Indemnification
by Asset Representations Reviewer. The Asset Representations Reviewer will indemnify each of the Issuer, the Depositor, the Servicer,
the Owner Trustee, the Delaware Trustee and the Indenture Trustee and their respective directors, officers, employees and agents for all
fees, expenses, losses, damages and liabilities (including the fees and expenses of defending itself against any loss, damage or liability
and any fees and expenses incurred in connection with any proceedings brought by that Person to enforce the indemnification obligations
of the Asset Representations Reviewer) resulting from (a) the willful misconduct, bad faith or negligence of the Asset Representations
Reviewer in performing its obligations under this Agreement or (b) the Asset Representations Reviewer's breach of any of its representations
or warranties in this Agreement. The Asset Representations Reviewer's obligations under this Section 4.5 will survive the termination
of this Agreement, the termination of the Issuer and the resignation or removal of the Asset Representations Reviewer.

 

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Section 4.6.        Indemnification
of Asset Representations Reviewer.

 

(a)          Indemnification.
The Issuer will, or will cause the Administrator to, indemnify the Asset Representations Reviewer and its officers, directors, employees
and agents (each, an "Indemnified Person"), for all fees, expenses, losses, damages and liabilities resulting from the
performance of its obligations under this Agreement (including the fees and expenses of defending itself against any loss, damage or liability
and any fees and expenses incurred in connection with any proceedings brought by the Indemnified Person to enforce the indemnification
obligations of the Issuer and the Administrator), but excluding any fee, expense, loss, damage or liability resulting from (i) the
Asset Representations Reviewer's willful misconduct, bad faith or negligence or (ii) the Asset Representations Reviewer's breach
of any of its representations or warranties in this Agreement.

 

(b)          Proceedings.
If an Indemnified Person receives notice of a proceeding against it, the Indemnified Person will, if a claim is to be made under Section 4.6(a),
promptly notify the Issuer and the Administrator of the proceeding. The Issuer or the Administrator may participate in and assume the
defense and settlement of a proceeding at its expense. If the Issuer or the Administrator notifies the Indemnified Person of its intention
to assume the defense of the proceeding with counsel reasonably satisfactory to the Indemnified Person, and so long as the Issuer or the
Administrator assumes the defense of the proceeding in a manner reasonably satisfactory to the Indemnified Person, the Issuer and the
Administrator will not be liable for fees and expenses of counsel to the Indemnified Person unless there is a conflict between the interests
of the Issuer or the Administrator, as applicable, and an Indemnified Person. If there is a conflict, the Issuer or the Administrator
will pay for the reasonable fees and expenses of separate counsel to the Indemnified Person. No settlement of a proceeding may be made
without the approval of the Issuer and the Administrator and the Indemnified Person, which approval will not be unreasonably withheld.

 

(c)          Survival
of Obligations. The obligations of the Issuer and the Administrator under this Section 4.6 will survive the resignation or removal
of the Asset Representations Reviewer and the termination of this Agreement.

 

(d)          Repayment.
If the Issuer or the Administrator makes a payment to an Indemnified Person under this Section 4.6 and the Indemnified Person later
collects from others any amounts for which the payment was made, the Indemnified Person will promptly repay those amounts to the Issuer
or the Administrator, as applicable.

 

Section 4.7.        Review
of Asset Representations Reviewer's Records. The Asset Representations Reviewer agrees that, with reasonable advance notice not more
than once during any year, it will permit authorized representatives of the Issuer, the Servicer or the Administrator, during the Asset
Representations Reviewer's normal business hours, to have access to and review the facilities, processes, books of account, records, reports
and other documents and materials of the Asset Representations Reviewer relating to (a) the performance of the Asset Representations
Reviewer's obligations under this Agreement, (b) payments of fees and expenses of the Asset Representations Reviewer for its performance
and (c) a claim made by the Asset Representations Reviewer under this Agreement. In addition, the Asset Representations Reviewer
will permit the Issuer's, the Servicer's or the Administrator's

 

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representatives to make copies and extracts of any of those documents and
to discuss them with the Asset Representations Reviewer's officers and employees. Any access and review will be subject to the Asset Representations
Reviewer's confidentiality and privacy policies. The Asset Representations Reviewer will maintain all relevant books, records, reports
and other documents and materials for a period of at least two years after the termination of its obligations under this Agreement.

 

Section 4.8.        Delegation
of Obligations. The Asset Representations Reviewer may not delegate or subcontract its obligations under this Agreement to any Person
without the consent of the Issuer and the Servicer.

 

Section 4.9.        Confidential
Information.

 

(a)          Treatment.
The Asset Representations Reviewer agrees to hold and treat Confidential Information given to it under this Agreement in confidence and
under the terms and conditions of this Section 4.9, and will implement and maintain safeguards to further assure the confidentiality
of the Confidential Information. The Confidential Information will not, without the consent of the Issuer and the Servicer, be disclosed
or used by the Asset Representations Reviewer, or its officers, directors, employees, agents, representatives or affiliates, including
legal counsel (each, an "Information Recipient") other than for the purposes of performing Reviews of Review Leases or
performing its obligations under this Agreement. The Asset Representations Reviewer agrees that it will not, and will cause its Affiliates
to not (i) purchase or sell securities issued by Ford Credit or its Affiliates or special purpose entities on the basis of Confidential
Information or (ii) use the Confidential Information for the preparation of research reports, newsletters or other publications or
similar communications.

 

(b)          Definition.
 "Confidential Information" means oral, written and electronic materials (regardless of its source or form of communication)
furnished before, on or after the date of this Agreement to the Asset Representations Reviewer for the purposes contemplated by this Agreement,
including:

 

  (i)          lists
of Review Leases and any related Review Materials;

 

 (ii)          origination
and servicing guidelines, policies and procedures, and form contracts; and

 

(iii)          notes,
analyses, compilations, studies or other documents or records prepared by the Servicer, which contain information supplied by or on behalf
of the Servicer or its representatives.

 

However, Confidential Information will not include information that (A) is
or becomes generally available to the public other than as a result of disclosure by an Information Recipient, (B) was available
to, or becomes available to, an Information Recipient on a non-confidential basis from a Person or entity other than the Issuer or the
Servicer before its disclosure to the Information Recipient who, to the knowledge of the Information Recipient is not bound by a confidentiality
agreement with the Issuer or the Servicer and is not prohibited from transmitting the information to the Information Recipient, (C) is
independently developed by an Information Recipient without the use of the Confidential Information, as shown by the Information Recipient's
files

 

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and records or other evidence in its possession or (D) the Issuer
or the Servicer gives permission to the Information Recipient to release.

 

(c)          Protection.
The Asset Representations Reviewer will take reasonable measures to protect the secrecy of and avoid disclosure and unauthorized use of
Confidential Information, including those measures that it takes to protect its own confidential information and not less than a reasonable
standard of care. The Asset Representations Reviewer acknowledges that Personally Identifiable Information is also subject to the additional
requirements in Section 4.10.

 

(d)          Disclosure.
If the Asset Representations Reviewer is required by applicable law, regulation, rule or order issued by an administrative, governmental,
regulatory or judicial authority to disclose part of the Confidential Information, it may disclose the Confidential Information. However,
before a required disclosure, the Asset Representations Reviewer, if permitted by applicable law, regulation, rule or order, will
use its reasonable efforts to notify the Issuer and the Servicer of the requirement and will cooperate, at the Servicer's expense, in
the Issuer's and the Servicer's pursuit of a proper protective order or other relief for the disclosure of the Confidential Information.
If the Issuer or the Servicer is unable to obtain a protective order or other proper remedy by the date that the information is required
to be disclosed, the Asset Representations Reviewer will disclose only that part of the Confidential Information that it is advised by
its legal counsel it is legally required to disclose.

 

(e)          Responsibility
for Information Recipients. The Asset Representations Reviewer will be responsible for a breach of this Section 4.9 by its Information
Recipients.

 

(f)          Violation.
The Asset Representations Reviewer agrees that a violation of this Agreement may cause irreparable injury to the Issuer and the Servicer
and the Issuer and the Servicer may seek injunctive relief in addition to legal remedies. If an action is initiated by the Issuer or the
Servicer to enforce this Section 4.9, the prevailing party will be reimbursed for its fees and expenses, including reasonable attorney's
fees, incurred for the enforcement.

 

Section 4.10.     Personally
Identifiable Information.

 

(a)          Definitions.
 "Personally Identifiable Information" or "PII" means information in any format about an identifiable
individual, including, name, address, phone number, e-mail address, account number(s), identification number(s), any other actual or assigned
attribute associated with or identifiable to an individual and any information that when used separately or in combination with other
information could identify an individual. "Issuer PII" means PII furnished by the Issuer, the Servicer or their Affiliates
to the Asset Representations Reviewer and PII developed or otherwise collected or acquired by the Asset Representations Reviewer in performing
its obligations under this Agreement.

 

(b)          Use
of Issuer PII. The Issuer does not grant the Asset Representations Reviewer any rights to Issuer PII except as provided in this Agreement.
The Asset Representations Reviewer will use Issuer PII only to perform its obligations under this Agreement or as specifically directed
in writing by the Issuer and will only reproduce Issuer PII to the extent necessary for these purposes. The Asset Representations Reviewer
must comply with all laws applicable to PII, Issuer PII and the Asset Representations Reviewer's business, including any

 

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legally required codes of conduct, including those relating to privacy,
security and data protection. The Asset Representations Reviewer will protect and secure Issuer PII. The Asset Representations Reviewer
will implement privacy or data protection policies and procedures that comply with applicable law and this Agreement. The Asset Representations
Reviewer will implement and maintain reasonable and appropriate practices, procedures and systems, including administrative, technical
and physical safeguards to (i) protect the security, confidentiality and integrity of Issuer PII, (ii) ensure against anticipated
threats or hazards to the security or integrity of Issuer PII, (iii) protect against unauthorized access to or use of Issuer PII
and (iv) otherwise comply with its obligations under this Agreement. These safeguards will include a written data security plan,
employee training, information access controls, restricted disclosures, systems protections (including intrusion protection, data storage
protection and data transmission protection) and physical security measures.

 

(c)          Additional
Limitations. In addition to the use and protection requirements described in Section 4.10(b), the Asset Representations Reviewer's
disclosure of Issuer PII is also subject to the following requirements:

 

(i)            The
Asset Representations Reviewer will not disclose Issuer PII to its personnel or allow its personnel access to Issuer PII except (A) for
the Asset Representations Reviewer personnel who require Issuer PII to perform a Review, (B) with the consent of the Issuer or (C) as
required by applicable law. When permitted, the disclosure of or access to Issuer PII will be limited to the specific information necessary
for the individual to complete the assigned task. The Asset Representations Reviewer will inform personnel with access to Issuer PII of
the confidentiality requirements in this Agreement and train its personnel with access to Issuer PII on the proper use and protection
of Issuer PII.

 

(ii)           The
Asset Representations Reviewer will not sell, disclose, provide or exchange Issuer PII with or to any third party without the consent
of the Issuer.

 

(d)          Notice
of Breach. The Asset Representations Reviewer will notify the Issuer promptly in the event of an actual or reasonably suspected security
breach, unauthorized access, misappropriation or other compromise of the security, confidentiality or integrity of Issuer PII and, where
applicable, immediately take action to prevent any further breach.

 

(e)          Return
or Disposal of Issuer PII. Except where return or disposal is prohibited by applicable law, promptly on the earlier of the completion
of the Review or the request of the Issuer, all Issuer PII in any medium in the Asset Representations Reviewer's possession or under its
control will be (i) destroyed in a manner that prevents its recovery or restoration or (ii) if so directed by the Issuer, returned
to the Issuer without the Asset Representations Reviewer retaining any actual or recoverable copies, in both cases, without charge to
the Issuer. Where the Asset Representations Reviewer retains Issuer PII, the Asset Representations Reviewer will limit the Asset Representations
Reviewer's further use or disclosure of Issuer PII to that required by applicable law.

 

(f)           Compliance;
Modification. The Asset Representations Reviewer will cooperate with and provide information to the Issuer regarding the Asset Representations
Reviewer's

 

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compliance with this Section 4.10. The Asset Representations Reviewer
and the Issuer agree to modify this Section 4.10 as necessary for either party to comply with applicable law.

 

(g)           Audit
of Asset Representations Reviewer. The Asset Representations Reviewer will permit the Issuer and its authorized representatives to
audit the Asset Representations Reviewer's compliance with this Section 4.10 during the Asset Representations Reviewer's normal
business hours on reasonable advance notice to the Asset Representations Reviewer, and not more than once during any year unless circumstances
necessitate additional audits. The Issuer agrees to make reasonable efforts to schedule any audit described in this Section 4.10
with the inspections described in Section 4.7. The Asset Representations Reviewer will also permit the Issuer during normal business
hours on reasonable advance notice to audit any service providers used by the Asset Representations Reviewer to fulfill the Asset Representations
Reviewer's obligations under this Agreement.

 

(h)           Affiliates
and Third Parties. If the Asset Representations Reviewer processes the PII of the Issuer's Affiliates or a third party when performing
a Review, and if such Affiliate or third party is identified to the Asset Representations Reviewer, such Affiliate or third party is
an intended third-party beneficiary of this Section 4.10, and this Agreement is intended to benefit the Affiliate or third party.
The Affiliate or third party may enforce the PII related terms of this Section 4.10 against the Asset Representations Reviewer as
if each were a signatory to this Agreement.

 

ARTICLE V

RESIGNATION AND REMOVAL;

SUCCESSOR ASSET REPRESENTATIONS REVIEWER

 

Section 5.1.        Eligibility
Requirements for Asset Representations Reviewer. The Asset Representations Reviewer must be a Person who (a) is not Affiliated
with the Sponsor, the Depositor, the Servicer, the Indenture Trustee, the Owner Trustee, the Delaware Trustee or any of their Affiliates
and (b) was not, and is not Affiliated with a Person that was, engaged by the Sponsor or any Underwriter to perform any due diligence
on the Leases prior to the Closing Date.

 

Section 5.2.        Resignation
and Removal of Asset Representations Reviewer.

 

(a)          No
Resignation. The Asset Representations Reviewer will not resign as Asset Representations Reviewer unless it determines it is legally
unable to perform its obligations under this Agreement and there is no reasonable action that it could take to make the performance of
its obligations under this Agreement permitted under applicable law. The Asset Representations Reviewer will notify the Issuer and the
Servicer of its resignation as soon as practicable after it determines it is required to resign and stating the resignation date, including
an Opinion of Counsel supporting its determination.

 

(b)          Removal.
If any of the following events occur, the Issuer may remove the Asset Representations Reviewer and terminate its rights and obligations
under this Agreement by notifying the Asset Representations Reviewer:

 

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(i)            the
Asset Representations Reviewer no longer meets the eligibility requirements in Section 5.1;

 

(ii)           the
Asset Representations Reviewer breaches of any of its representations, warranties, covenants or obligations in this Agreement; or

 

(iii)          an
Insolvency Event of the Asset Representations Reviewer occurs.

 

(c)          Notice
of Resignation or Removal. The Issuer will notify the Servicer, the Owner Trustee and the Indenture Trustee of any resignation or
removal of the Asset Representations Reviewer.

 

(d)          Continue
to Perform After Resignation or Removal. No resignation or removal of the Asset Representations Reviewer will be effective, and the
Asset Representations Reviewer will continue to perform its obligations under this Agreement, until a successor Asset Representations
Reviewer has accepted its engagement according to Section 5.3(b).

 

Section 5.3.        Successor
Asset Representations Reviewer .

 

(a)          Engagement
of Successor Asset Representations Reviewer. Following the resignation or removal of the Asset Representations Reviewer, the Issuer
will engage a successor Asset Representations Reviewer who meets the eligibility requirements of Section 5.1.

 

(b)          Effectiveness
of Resignation or Removal. No resignation or removal of the Asset Representations Reviewer will be effective until the successor
Asset Representations Reviewer has executed and delivered to the Issuer and the Servicer an agreement accepting its engagement and agreeing
to perform the obligations of the Asset Representations Reviewer under this Agreement or entered into a new agreement with the Issuer
on substantially the same terms as this Agreement.

 

(c)          Transition
and Expenses. If the Asset Representations Reviewer resigns or is removed, the Asset Representations Reviewer will cooperate with
the Issuer and take all actions reasonably requested to assist the Issuer in making an orderly transition of the Asset Representations
Reviewer's rights and obligations under this Agreement to the successor Asset Representations Reviewer. The Asset Representations Reviewer
will pay the reasonable expenses of transitioning the Asset Representations Reviewer's obligations under this Agreement and preparing
the successor Asset Representations Reviewer to take on the obligations on receipt of an invoice in reasonable detail from the Issuer
or the successor Asset Representations Reviewer.

 

Section 5.4.        Merger,
Consolidation or Succession. Any Person (a) into which the Asset Representations Reviewer is merged or consolidated, (b) resulting
from any merger or consolidation to which the Asset Representations Reviewer is a party or (c) succeeding to the Asset Representations
Reviewer's business, if that Person meets the eligibility requirements in Section 5.1, will be the successor to the Asset Representations
Reviewer under this Agreement. Such Person will execute and deliver to the Issuer and the Servicer an agreement to assume the Asset Representations
Reviewer's obligations under this Agreement (unless the assumption happens by operation of law).

 

    14

     

    

 

ARTICLE VI

OTHER AGREEMENTS

 

Section 6.1.        Independence
of Asset Representations Reviewer. The Asset Representations Reviewer will be an independent contractor and will not be subject to
the supervision of the Issuer or the Owner Trustee for the manner in which it accomplishes the performance of its obligations under this
Agreement. Unless authorized by the Issuer or the Owner Trustee, respectively, the Asset Representations Reviewer will have no authority
to act for or represent the Issuer or the Owner Trustee and will not be considered an agent of the Issuer or the Owner Trustee. Nothing
in this Agreement will make the Asset Representations Reviewer and either of the Issuer or the Owner Trustee members of any partnership,
joint venture or other separate entity or impose any liability as such on any of them.

 

Section 6.2.        No
Petition. Each of the parties agrees that, before the date that is one year and one day (or, if longer, any applicable preference
period) after payment in full of (a) all Secured Obligations, including all Exchange Notes, and any other Securities, (b) all
securities issued by the Depositor or by a trust for which the Depositor was a depositor or (c) the Notes, it will not start or
pursue against, or join any other Person in starting or pursuing against, (i) either Titling Company or either Holding Company,
(ii) the Depositor or (iii) the Issuer, respectively, any bankruptcy, reorganization, arrangement, insolvency or liquidation
proceedings or other proceedings under any bankruptcy or similar law. This Section 6.2 will survive the termination of this Agreement.

 

Section 6.3.        Limitation
of Liability of Owner Trustee . This Agreement has been signed on behalf of the Issuer by _________________ not in its individual
capacity but solely in its capacity as Owner Trustee of the Issuer. In no event will _____________________ in its individual capacity
or a beneficial owner of the Issuer be liable for the Issuer's obligations under this Agreement. For all purposes under this Agreement,
the Owner Trustee will be subject to, and entitled to the benefits of, the Trust Agreement.

 

Section 6.4.        Termination
of Agreement. This Agreement will terminate on the earlier of (a) the payment in full of all outstanding Notes and the satisfaction
and discharge of the Indenture and (b) the date the Issuer is terminated under the Trust Agreement.

 

ARTICLE VII

Miscellaneous Provisions

 

Section 7.1.        Amendments.

 

(a)           Amendments.
The parties may amend this Agreement:

 

(i)            to
clarify an ambiguity, correct an error or correct or supplement any term of this Agreement that may be defective or inconsistent with
the other terms of this Agreement [or any prospectus or offering memorandum related to the Notes] or to provide for, or facilitate the
acceptance of this Agreement by, a successor Asset Representations Reviewer, in each case, without the consent of the Noteholders or
any other Person;

 

    15

     

    

 

(ii)           to
add, change or eliminate terms of this Agreement, in each case, without the consent of the Noteholders or any other Person, if the Administrator
delivers an Officer's Certificate to the Issuer, the Owner Trustee and the Indenture Trustee stating that the amendment will not have
a material adverse effect on the Noteholders; or

 

(iii)          to
add, change or eliminate terms of this Agreement for which an Officer's Certificate is not or cannot be delivered under Section 7.1(a)(ii),
with the consent of the Noteholders of a majority of the Note Balance of each Class of Notes Outstanding (with each affected Class voting
separately, except that all Noteholders of Class A Notes will vote together as a single class).

 

(b)          Indenture
Trustee Consent. No amendment to this Agreement that could have a material adverse effect on the rights or responsibilities of the
Indenture Trustee will be effective without the consent of the Indenture Trustee.

 

(c)          Notice
of Amendments. The Administrator will notify the Rating Agencies in advance of any amendment. Promptly after the execution of an
amendment, the Administrator will deliver a copy of the amendment to the Rating Agencies.

 

Section 7.2.        Assignment;
Benefit of Agreement; Third Party Beneficiaries.

 

(a)          Assignment.
Except as stated in Section 5.4, this Agreement may not be assigned by the Asset Representations Reviewer without the consent of
the Issuer and the Servicer.

 

(b)          Benefit
of Agreement; Third-Party Beneficiaries. This Agreement is for the benefit of and will be binding on the parties and their permitted
successors and assigns. The Owner Trustee and the Indenture Trustee, for the benefit of the Noteholders, will be third-party beneficiaries
of this Agreement and may enforce this Agreement against the Asset Representations Reviewer and the Servicer. No other Person will have
any right or obligation under this Agreement.

 

Section 7.3.        Notices.

 

(a)          Notices
to Parties. All notices, requests, directions, consents, waivers or other communications to or from the parties must be in writing
and will be considered received by the recipient:

 

(i)            for
overnight mail, on delivery or, for registered first class mail, postage prepaid, three days after deposit in the mail properly addressed
to the recipient;

 

(ii)           for
a fax, when receipt is confirmed by telephone, reply email or reply fax from the recipient;

 

(iii)          for
an email, when receipt is confirmed by telephone or reply email from the recipient; and

 

    16

     

    

 

(iv)          for
an electronic posting to a password-protected website to which the recipient has access, on delivery of an email (without the requirement
of confirmation of receipt) stating that the electronic posting has been made.

 

(b)          Notice
Addresses. A notice, request, direction, consent, waiver or other communication must be addressed to the recipient at its address
stated in Schedule A to the Indenture, which address the party may change by notifying the other parties.

 

Section 7.4.       GOVERNING
LAW. THIS AGREEMENT WILL BE GOVERNED BY AND CONSTRUED ACCORDING TO THE LAWS OF THE STATE OF NEW YORK.

 

Section 7.5.        Submission
to Jurisdiction. Each party submits to the nonexclusive jurisdiction of the United States District Court for the Southern District
of New York and of any New York State Court sitting in New York, New York for legal proceedings relating to this Agreement. Each party
irrevocably waives, to the fullest extent permitted by law, any objection that it may now or in the future have to the venue of a proceeding
brought in such a court and any claim that the proceeding has been brought in an inconvenient forum.

 

Section 7.6.        WAIVER
OF JURY TRIAL. Each party irrevocably waives, to the fullest extent permitted by law, THE
right to trial by jury in legal proceedingS relating to this agreement.

 

Section 7.7.        No
Waiver; Remedies. No party's failure or delay in exercising a power, right or remedy under this Agreement will operate as a waiver.
No single or partial exercise of a power, right or remedy will preclude any other or further exercise of the power, right or remedy or
the exercise of any other power, right or remedy. The powers, rights and remedies under this Agreement are in addition to any powers,
rights and remedies under law.

 

Section 7.8.        Severability.
If a part of this Agreement is held invalid, illegal or unenforceable, then it will be deemed severable from the remaining Agreement
and will not affect the validity, legality or enforceability of the remaining Agreement.

 

Section 7.9.        Headings.
The headings in this Agreement are included for convenience and will not affect the meaning or interpretation of this Agreement.

 

Section 7.10.     Counterparts.
This Agreement may be executed in multiple counterparts. Each counterpart will be an original and all counterparts will together be one
document.

 

[Remainder of Page Left Blank]

 

    17

     

    

 

EXECUTED BY:

 

	 	FORD CREDIT AUTO LEASE TRUST 20__-__,
	 	as Issuer

 

		By:	___________________, not in its individual capacity, but solely
                                            as Owner Trustee

 

 

		By:	
	 	 	Name:
	 	 	Title:

 

 

	 	FORD MOTOR CREDIT COMPANY LLC,
	 	as Servicer

 

 

		By:	
	 	 	Name:
	 	 	Title:

 

 

	 	___________________,
	 	as Asset Representations Reviewer

 

 

		By:	
	 	 	Name:
	 	 	Title:

 

 

 

 

 

 

 

 

 

 

 

 

[Signature
Page to Asset Representations Review Agreement]

 

    

     

    

Schedule A

 

Review Materials

 

		1.	A copy of the Lease File that includes the following documents, if
                                            applicable:

 

		(a)	The motor vehicle lease agreement or similar document as amended that
                                            evidences the Lease.

 

		(b)	The following documents related to the Lease (collectively, the "Amendments"):

 

		(i)	Any correction notices to the Lease prior to the Cutoff Date, and

 

		(ii)	Any modification agreements completed by the parties to the Lease
                                            prior to the Cutoff Date;

 

		(c)	The certificate of title, motor vehicle lien statement, application
                                            for title, application for registration for motor vehicle, certificate of origin or manufacturer
                                            statement of origin for a vehicle, or other evidence (including eAtlas reporting for electronic
                                            titling states) showing the security interest in the Leased Vehicle (collectively, the "Title
                                            Documents");

 

		(d)	Proof of insurance;

 

		(e)	Any ancillary documents for credit insurance, service contracts or other
                                            products and services (collectively, the "Ancillary Documents");

 

		(f)	Military orders; and

 

		(g)	State specific documents related to the Lease.

 

		2.	Copies of applicable Ford Credit procedures, as of the date of the
                                            Lease, including:

 

		(a)	Ford Credit's procedure listing approved lease forms as of the date
                                            of the Lease (the "List of Approved Contract Forms");

 

		(b)	Ford Credit's procedure listing acceptable name variations of Ford Credit,
                                            Lincoln Automotive Financial Services, CAB East LLC, CAB West LLC, CABT and HTD Leasing LLC
                                            (the "List of Acceptable Name Variations"); and

 

		(c)	Ford Credit's procedure listing approved providers and form numbers
                                            for credit insurance, service contracts and other products and services (the "List
                                            of Approved Products").

 

    SA-1

     

    

 

		3.	A copy of the Red Carpet Lease Assignment with the Dealer that originated
                                            the Lease (the "Dealer Assignment").

 

		4.	Applicable screen prints from Ford Credit's receivables systems.

 

    SA-2

     

    

 

Schedule B

 

Representations and Warranties and Tests

 

	Representation
                                            and Warranty

                                                                                (Section references
are to the 

Exchange Note Purchase Agreement)
	Tests
	Section 3.3(a) –
    Origination of Leases.  The Lease was originated by a Dealer in the United States and has a garaging location in an
    Eligible State.  The Lease was originated by a Dealer for the retail lease of a Leased Vehicle in the ordinary course of
    the Dealer's business.  The Lease was signed by the parties to the Lease.  The Lease was purchased by a Titling
    Company qualified to hold the Lease and the related Leased Vehicle and was validly assigned by the Dealer to that Titling Company.	Test 3.3(a) – 1: Dealer
    Address

    Observe the address of the Dealer on the Lease and confirm it is in
    the United States.

    Test 3.3(a) – 2: Garaging
    Location

    Observe the Lease account in Ford Credit's receivables systems and
    confirm the state in the garaging address on the date of the Lease corresponds to the correct Titling Company as stated in the applicable
    Ford Credit procedure.

    Test 3.3(a) – 3: Lease
    Signed

    Observe the Lease and confirm signatures are present for the Dealer
    and the Lessee.

    Test 3.3(a) – 4: Lease
    Form

    Observe the form number and revision date on the Lease and confirm
    they are on the List of Approved Contract Forms.

    Test 3.3(a) – 5: Qualified
    Titling Company

    Observe the Lease and confirm the Titling Company identified as the
    Holder is qualified to do business in the state of the Dealer's address.

    Test 3.3(a) – 6: Valid
    Assignment

    Observe the Lease and confirm the Dealer's signature is present to
    assign the lease to a Titling Company.

    Test 3.3(a) – 7: Dealer
    Confirmation

    Observe the Dealer name on the Lease and confirm it matches the Dealer
    name on the Dealer Assignment.

	Section 3.3(b) –
    New Vehicle.  The Leased Vehicle was a new car, light truck or utility vehicle according to the Underwriting Procedures
    at the beginning of the related Lease.	Test 3.3(b) – 1: New
    Vehicle

    Observe the Lease account in Ford Credit's receivables systems and
    confirm that the Leased Vehicle is identified as "new" or "demo."

	Section 3.3(c) –
    Monthly Payments.  The Lease (if not an Advance Payment Plan Lease) provides for monthly payments in U.S. dollars in
    an amount equal to the sum of (i) a level scheduled payment that provides a fixed internal rate of return and amortizes the
    Adjusted Capitalized Cost stated in the Lease to the Contract Residual Value of the related Leased Vehicle over the term of the Lease,
    plus (ii) other fees and taxes on the Lease.	Test 3.3(c) – 1: Monthly
    Payments

    Observe the Lease and confirm it reflects monthly payments.

    Test 3.3(c) – 2: U.S.
    Dollars

    Observe the Lease and confirm it is payable in U.S. dollars.

    Test 3.3(c) – 3: Level
    Monthly Payments

    Observe the Lease and confirm it reflects a level scheduled payment.

    Test 3.3(c) – 4: Rate
    of Return

    Observe the Lease and confirm the sum of "Depreciation and other
    Amortized Amounts" and "Rent Charge" divided by "Lease Payments" equals "Base Payment."

    Test 3.3(c) – 5: Amortization

    Observe the Lease and confirm
 "Adjusted Capitalized Cost" minus the product of "Lease Payments" multiplied by "Base Payment" minus "Rent
Charge" equals "Residual Value." 

    

 

    SB-1

     

    

 

	Representation and Warranty

                                                                                (Section references
are to the

 Exchange Note Purchase Agreement)
	Tests
	 	Test
                                            3.3(c) – 6: Total Payment

                                                                                Observe
                                            the Lease and confirm "Base Payment" plus other fees and taxes equals "Total
                                            Payment."

	Section 3.3(d) –
    Certificate of Title.  The Leased Vehicle was titled, or the Servicer has started procedures that will result in the
    Leased Vehicle being titled in a manner acceptable to the relevant governmental authority.	Test
                                            3.3(d) – 1: Garaging Location

    Observe the Lease account in Ford Credit's
    receivables systems and confirm the state in the garaging address on the date of the Lease matches the state on the Title Documents.

     

    Observe the Title Documents and confirm
    they reflect the Titling Company as stated in the applicable Ford Credit procedure, using a name included in the List of Acceptable
    Name Variations, as the Owner.

    Test
    3.3(d) – 2: Title Verification

    Observe the Holder on the Lease and
    confirm it matches the Owner on the Title Documents.

     

    Observe the vehicle identification number
    on the Lease and confirm it matches the vehicle identification number on the Title Documents.

	Section 3.3(e) –
    No Government Lessee.  The Lease is not an obligation of the United States or a State or local government or any agency,
    department, instrumentality or political subdivision of the United States or a State or local government.	Test
                                            3.3(e) – 1: No Government Lessee

    Observe the Lease and confirm the Leased
    Vehicle is leased for personal use or, if not, confirm the Lessee is not a government Lessee. If the name of the Lessee contains
    a word indicating it may be a government Lessee, use online sources to confirm the Lessee is a commercial business and not a government
    Lessee.

	Section 3.3(f) –
    No Commercial Lessee.  The Lease is not a commercial lease contract, master lease contract or fleet vehicle lease contract,
    but the Lease may have been entered by a business entity and the Leased Vehicle may be used for commercial purposes.	Test
                                            3.3(f) – 1: Lease Form

    Observe the form number and revision
    date on the Lease and confirm they are on the List of Approved Contract Forms.

	Section 3.3(g) –
    Insurance.  The Lease requires the Lessee to have physical damage insurance covering the Leased Vehicle.	Test
                                            3.3(g) – 1: Insurance

    Observe the Lease and confirm it contains
    an agreement from the Lessee to insure against loss of or risk to the Leased Vehicle.

	Section 3.3(h) –
    Compliance with Underwriting Procedures.  The Lease was underwritten according to the Underwriting Procedures in effect
    at the time in all material respects.	Test
                                            3.3(h) – 1: Lease Form

    Observe the form number and revision
    date on the Lease and confirm they are on the List of Approved Contract Forms.

    Test
    3.3(h) – 2: Leased Vehicle Description

    Observe the Lease and confirm the description
    of the Leased Vehicle, including the vehicle identification number, year, make and model, new, used or demo, matches the vehicle
    information for the Lease account in Ford Credit's receivables systems.

     

    Observe each Ancillary Document, if
    any, and confirm any information describing the Leased Vehicle matches the corresponding information on the Lease.

    Test
    3.3(h) – 3: Fees and Additional Products

    Observe the fees, if any, included in
    the "Amounts Due At Lease Signing or Delivery" section of the Lease and confirm they do not exceed the limits

    

 

    SB-2

     

    

 

	Representation
                                            and Warranty

                                                                                (Section
references are to the

 Exchange Note Purchase Agreement)
	Tests
	 	stated in the applicable Ford Credit procedure.

                                                                                                               

Observe the Lease and confirm the amount the acquisition fee
is the amount required by Ford Credit procedure and, if it is an advance payment lease, confirm the acquisition fee is listed in the
 "Amounts Due At Lease Signing or Delivery" section.

 

Observe the amount for each additional product, if any, included
in the "Itemization of Gross Capitalized Cost" section of the Lease and confirm each amount does not exceed the advance cap
amount stated in the applicable Ford Credit procedure.

Test 3.3(h) – 4: Lease Signed

Observe the Lease and confirm
signatures are present for the Dealer and the Lessee.

Test 3.3(h) – 5: Insurance

Observe the insurance section
of the Lease and confirm the minimum limits meet the requirements as stated in the applicable Ford Credit procedure.

 

Confirm the Lease File contains proof of insurance as stated
in the applicable Ford Credit procedure.

Test 3.3(h) – 6: Dealer
Confirmation

Observe the Lease and confirm that the Dealer name matches the Dealer name on the Red Carpet Lease Assignment.

Test 3.3(h) – 7: Additional Document Requirements

Observe
the Lease account in Ford Credit's receivables systems and confirm that no additional document requirements are indicated for origination
or, if so, confirm all required documents are in the Lease File.

Test 3.3(h) – 8: Notice to Co-Signer

Observe the Lease and confirm the "Vehicle Use" is personal
and if so, confirm if a "Notice to Cosigner" document is required by the applicable Ford Credit procedure and if so, confirm
a signed and dated "Notice to Cosigner" document is in the Lease File.

Test 3.3(h) – 9: Odometer Disclosure Statement

Observe the Odometer Disclosure Statement and confirm it is completed
and signed as stated in the applicable Ford Credit procedure.

Test 3.3(h) – 10: Finance Company and Holder

Observe the
Lease and confirm the "Finance Company" and "Holder" section is completed as stated in the applicable Ford Credit
procedure.

	Section
    3.3(i) – Valid Assignment. The Lease was originated in, and is subject to the laws of, a jurisdiction which permits the
    sale and assignment of the Lease and the related Leased Vehicle to the Titling Company. The terms of the Lease do not limit the right
    of the owner of the Lease to sell the Lease.	Test
3.3(i) – 1: Lease Form

                                                                                                                         Observe the form number and revision date on the Contract and confirm they are on the List of Approved
Contract Forms.

	Section
    3.3(j) – Compliance with Law. At the time it was originated, the Lease complied in all material respects with all	Test
3.3(j) – 1: Lease Form

                                                                                                                         Observe
the form number and revision date on the Lease and confirm they are on the List of Approved Contract Forms.

 

    SB-3

     

    

 

	Representation
                                            and Warranty

                                                                                (Section
references are to the

 Exchange Note Purchase Agreement)
	Tests
	requirements of law in effect at the time.	 Test
                                            3.3(j) – 2: Legibility of Lease

    Observe the Lease and confirm all printed sections are legible and
    aligned on the correct line.

    Test 3.3(j) – 3: Additional
    Product Provider and Form

    Observe the provider name, form number and revision date on each Ancillary
    Document, if any, and confirm they are on the List of Approved Products.

    Test 3.3(j) – 4: Lease
    Signed

    Observe the Lease and confirm signatures are present for the Dealer
    and the Lessee.

    Test 3.3(j) – 5: Total
    of Payments

    Observe the "Total of Payments" on the Lease. Calculate
    the "Total of Payments" using the "Amount Due at Lease Signing or Delivery" plus "The total of Your monthly
    payment is" minus "Your first monthly payment of" and confirm it matches "Total of Payments."

    Test 3.3(j) – 6: Payment
    Schedule

    Observe the scheduled due date on the Lease and confirm it follows
    the payment due date requirements in the applicable Ford Credit procedure.

    Test 3.3(j) – 7: Tax
    Disclosure

    Observe the Lease and confirm the tax on capitalized cost reduction,
    if any, is disclosed as required by Ford Credit procedure.

    Test 3.3(j) – 8: Gross
    Capitalized Cost

    Observe the "Gross capitalized cost" in the "Your payment
    is determined as shown below" section of the Lease and confirm that it equals the "Total Gross Capitalized Cost" in
    the "Itemization of Gross Capitalized Cost" section.

    Test 3.3(j) – 9: Adjusted
    Capitalized Cost

    Observe the "Your payment is determined as shown below"
    section of the Lease and confirm that "Gross capitalized cost" minus "Capitalized cost reduction" equals "Adjusted
    capitalized cost."

    Test 3.3(j) – 10: Term

    Observe the "Payments" box on the Lease and confirm it matches
    the "Lease payments" in the "Your payment is determined as shown below" section.

    Test 3.3(j) – 11: Total
    Miles Allowed

    Observe the "Excess Wear and Use" section of the Lease and
    confirm the price per mile and the mileage lines are completed according to applicable Ford Credit procedure.

    Test 3.3(j) – 12: Warranty
    Disclosure

    Observe the "Warranty" disclosure box on the Lease and confirm
    it has been completed according to applicable Ford Credit procedure.

    Test 3.3(j) – 13: Official
    Fees and Taxes Disclosure

    Observe the "Official Fees and Taxes" disclosure box on
    the Lease and confirm it has been competed according to applicable Ford Credit procedure.

    Test 3.3(j) – 14: Equal
    Credit Opportunity Act - Origination

    Observe the Lease account in Ford Credit's receivables systems and
confirm any comments at origination do not conflict with the prohibited practices described in the applicable Ford Credit procedure.

    

 

    SB-4

     

    

 

	Representation
                                            and Warranty

                                                                                (Section
references are to the

 Exchange Note Purchase Agreement)
	Tests
	 	Test
3.3(j) – 15: State Disclosures; Contract Complete

                                                                                                                                                                  Observe
the Lease and confirm all lines on the Lease are completed or properly left blank.

                                                                                                                                                                  Test
3.3(j) – 16: State-Specific Underwriting Requirements

                                                                                                                                                                  Observe
the state in the address of the Dealer on the Lease. If the state is listed below, perform the tests for the specific state.

                                                                                                                                                                  California

                                                                                                                                                                  Observe
the Lease and confirm that it indicates it was negotiated primarily in English or, if it indicates one of the other languages, confirm
a completed translation of the Lease in that language is in the Lease File.

Florida

Confirm a signed "Customer-Dealer Registration Agreement"
or a document identifying that the Dealer used the actual registration amount is in the Lease file. 

Illinois

Illinois-1-Sales Tax Form 

Confirm a completed sales tax form is in the Lease File.

Illinois-2-Translation 

Confirm there is no translation acknowledgment form in the Lease File
or, if so, confirm the form is completed and signed.

Kansas 

Observe the Lease and confirm that no credit insurance was purchased
or, if so, confirm the "Credit Insurance Premium Refund Notice" is in the Lease File and the date of the form is within ten
days of the Lease purchase date.

New Jersey 

Observe the Lease and confirm the date the Lessee signed the Lease
is at least one business day after the date of the Lease or, if the dates are the same, confirm a waiver signed by the Lessee is in the
Lease File.

New York 

Confirm there is no translation acknowledgment form in the Lease File
or, if so, confirm the form is completed and signed.

Ohio 

Observe the Lease and confirm that no credit insurance was purchased
or, if so, confirm a completed and signed "Notice of Optional Credit Insurance" is in the Lease File.

 

    SB-5

     

    

 

	Representation
                                            and Warranty

                                                                                (Section
references are to the

 Exchange Note Purchase Agreement)
	Tests
	Section 3.3(k) –
    Binding Obligation.  The Lease is on a form contract that includes rights and remedies allowing the holder to enforce
    the obligation and realize on the Leased Vehicle and represents the legal, valid and binding payment obligation of the Lessee, enforceable
    in all material respects by the holder of the Lease, except as may be limited by bankruptcy, insolvency, reorganization or other
    similar laws relating to the enforcement of creditors' rights or by general equitable principles and consumer financial protection
    laws.	Test 3.3(k) – 1: Lease
    Form

    Observe the form number and revision date on the Contract and confirm
    they are on the List of Approved Contract Forms.

	Section 3.3(l) –
    Security Interest in Leased Vehicle.  The Collateral Agent has, or the Servicer has started procedures that will result
    in the Collateral Agent having, a perfected, first-priority security interest in the Leased Vehicle, which security interest was
    validly created.	Test 3.3(l) – 1: Security
    Interest in Lease Vehicle

    Observe the Title Documents and confirm they show HTD Leasing LLC,
    using a name included in the List of Acceptable Name Variations, as the first lienholder.

     

    Observe the vehicle identification number on the Lease and confirm
    it matches the vehicle identification number on the Title Documents.

	Section 3.3(m) –
    Good Title to Lease and Leased Vehicle.  The applicable Titling Company has good title, or the Servicer has started
    procedures that will result in good title, to the Lease and Leased Vehicle, free and clear of Liens other than Permitted Liens.	Test 3.3(m) – 1: Garaging
    Location

    Observe the Lease account in Ford Credit's receivables systems and
    confirm the state in the garaging address on the date of the Lease matches the state on the Title Documents.

     

    Observe the Title Documents and confirm they reflect the Titling Company
    as stated in the applicable Ford Credit procedure, using a name included in the List of Acceptable Name Variations, as the Owner.

    Test 3.3(m) – 2: Valid
    Assignment

    Observe the Lease and confirm the Dealer signature is present to assign
    the lease to the applicable Titling Company.

	Section 3.3(n) –
    Chattel Paper.  The Lease is either "tangible chattel paper" or "electronic chattel paper" within
    the meaning of the applicable UCC and there is only one original authenticated copy of the Lease.	Test 3.3(n) – 1: Lease
    Signed

    Observe the Lease and confirm signatures are present for the Dealer
    and Lessee.

    Test 3.3(n) – 2: Lease
    Form

    Observe the form number and revision date on the Lease and confirm
    they are on the List of Approved Contract Forms.

    Test 3.3(n) – 3: One Original

    Observe the Lease and confirm it is an electronic contract or, if
    not, confirm it states "original" above the ply description line.

 

    SB-6

     

    

 

	Representation
                                            and Warranty

                                                                                (Section
references are to the

 Exchange Note Purchase Agreement)
	Tests
	Section 3.3(o) –
    Servicing.  The Lease was serviced in compliance with law and the Servicing Procedures in all material respects from
    the time it was originated to the Cutoff Date.	Test 3.3(o) – 1: Credit
    Bureau Reporting

    Observe the Lease account in Ford Credit's receivables systems and
    confirm the number of days, if any, the Lease account was past due for each month preceding the Cutoff Date matches the information
    reported to the credit bureaus for the Lease account.

    Test 3.3(o) – 2: Lessee
    Complaints

    Observe the Lease account in Ford Credit's receivables systems and
    confirm that "Complaints/Feedback" is not indicated for the Lease account as of the Cutoff Date or, if so, confirm that
    the documentation indicated in Ford Credit's receivables systems related to the complaint follows the applicable Ford Credit procedures.

    Test 3.3(o) – 3: Equal
    Credit Opportunity Act - Servicing

    Observe the customer service notes, if any, for the Lease account
    in Ford Credit's receivables systems and confirm any comments do not conflict with the prohibited practices described in the applicable
    Ford Credit procedure.

    Test 3.3(o) – 4: Servicemembers
    Civil Relief Act

    Observe the Lease account in Ford Credit's receivables systems and
    confirm that Servicemembers Civil Relief Act is not indicated for the Lease account as of the Cutoff Date or, if so and if military
    orders are in the Lease File, confirm the lease factor for the Lease account indicated in Ford Credit's receivables systems is less
    than or equal to [4.25]%.

	Section 3.3(p) –
    No Bankruptcy.  As of the Cutoff Date, the Sponsor's receivables systems do not indicate that the Lessee on the Lease
    is a debtor in a bankruptcy proceeding.	Test 3.3(p) – 1: No
    Bankruptcy

    Observe the Lease account in Ford Credit's receivables systems as
    of the Cutoff Date and confirm the "Bankrupt" field is blank.

	Section 3.3(q) –
    Leases in Force.  As of the Cutoff Date, neither the Sponsor's receivables systems nor the Lease File indicate that
    the Lease (i) was a Terminating Lease or a Closed Lease or (ii) was satisfied, subordinated, rescinded, cancelled or terminated.	Test 3.3(q) – 1: Terminating
    Lease or Closed Lease

    Observe the Lease account in Ford Credit's receivables systems and
    confirm it was not a Terminating Lease or a Closed Lease.

    Test 3.3(q) – 2: Leases
    in Force

    Observe the Lease account in Ford Credit's receivables systems and
    confirm it was an active account on the Cutoff Date.

	Section 3.3(r) –
    No Amendments or Modifications.  No material term of the Lease has been affirmatively amended or modified (other than
    the assessment of a security deposit or a Payment Extension Fee or the payment of any other amount that would be a Lease Administration
    Amount, or a default relating to failure by the related Lessee to pay any such amount), except amendments and modifications indicated
    in the Sponsor's receivables systems or in the Lease File.	Test 3.3(r) – 1: No
    Amendments

    Observe the Lease account in Ford Credit's receivables systems and
    confirm a "Substitution Agreement" and/or "Transfer of Lease" account message is not indicated or, if so, confirm
    a substitution agreement and/or transfer agreement is in the Lease File.

 

    SB-7

     

    

 

	Representation
                                            and Warranty

                                                                                (Section
references are to the

 Exchange Note Purchase Agreement)
	Tests
	Section 3.3(s) –
    No Extensions.  As of the Cutoff Date, the Lease was not amended to extend the due date for any payment, other than
    Payment Extensions totaling no more than three months, as recorded in the Sponsor's receivables systems and in the Lease File.	Test 3.3(s) – 1: No
    Extensions

    Observe the Lease account in Ford Credit's receivables systems and
    confirm the Lease was not extended more than three months as of the Cutoff Date.

	Section 3.3(t) –
    No Defenses.  There is no right of rescission, setoff, counterclaim or defense asserted or threatened against the Lease
    indicated in the Sponsor's receivables systems or in the Lease File.	Test 3.3(t) – 1: No
    Defenses

    Observe the Lease account in Ford Credit's receivables systems and
    confirm there are no "Litigation Pending," "Attorney Representation" and/or "Second Lien" account messages
    or, if so, confirm the account message(s) were not present as of the Cutoff Date.

	Section 3.3(u) –
    No Payment Default.  Except for a payment that is not more than 30 days Delinquent as of the Cutoff Date, no payment
    default exists on the Lease.	Test 3.3(u) – 1: No
    Payment Default

    Observe the Lease account in Ford Credit's receivables systems and
    confirm the Lease was not more than 30 days Delinquent as of the Cutoff Date.

	Section 3.3(v) –
    Maturity of Leases.  The Lease has a Scheduled Lease End Date of not greater than [48] months from the date of the
    Lease.	Test 3.3(v) – 1: Maturity
    of Leases

    Observe the "Lease Term in Months" on the Lease and confirm
    it is not greater than [48].

 

    SB-8

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