Document:

ex10_4.htm

    
      

    

    June
      19,
      2007

    
 

    
      	
              To:

            	
              BNP
                PARIBAS

            
	 	 
	 	 
	
              From:

            	
              FORD
                CREDIT AUTO OWNER TRUST 2007-A

            
	 	
              c/o
                U.S. Bank Trust National Association,

            
	 	
                 as
                Owner Trustee

            
	 	
              300
                Delaware Avenue, Ninth Floor

            
	 	
              Wilmington,
                Delaware 19801

            
	 	
              Attention:
                Corporate Trust Department

            
	 	
              Telephone:  (302)
                552-3200

            
	 	
              Facsimile:  (302)
                552-3129

            
	 	 
	 	
              Re:  Interest
                Rate Swap Reference No.
                MAD66643

            

    

     

    Ladies
      and Gentlemen:

    

    The
      purpose of this letter agreement is to confirm the terms and conditions of
      the
      Swap Transaction entered into between BNP PARIBAS (“Party A”) and Ford Credit
      Auto Owner Trust 2007-A (“Party B”) on the Trade Date listed below (the
“Transaction”).  This letter constitutes a “Confirmation” as referred
      to in the Agreement specified below.

     

    The
      definitions and provisions contained in the 2000 ISDA Definitions (as published
      by the International Swaps and Derivatives Association, Inc.) are incorporated
      into this Confirmation.  For these purposes, all references in those
      Definitions to a “Swap Transaction” will be deemed to apply to the Transaction
      referred to herein.  In the event of any inconsistency between those
      Definitions and this Confirmation, this Confirmation will govern.

    

    1.  This
      Confirmation supplements, forms part of, and is subject to, the ISDA Master
      Agreement and the Schedule thereto, both dated as of June 19, 2007, between
      you and us (as amended, supplemented or otherwise modified from time to time,
      the “Agreement”).  All provisions contained in the Agreement govern
      this Confirmation except as expressly modified below.  Other
      capitalized terms used herein and not otherwise defined will have the meanings
      given them in the Indenture referred to in the Agreement.   In
      the event of any inconsistency between those terms and this Confirmation, this
      Confirmation will govern.

    

    2.  The
      terms of the particular Transaction to which this Confirmation relates are
      as
      follows:

    

    
      	
              Party
                A:

            	 	
              BNP
                PARIBAS

            
	 	 	 
	
              Party
                B:

            	 	
              Ford
                Credit Auto Owner Trust 2007-A.

            
	 	 	 
	
              Trade
                Date:

            	 	
              June
                19, 2007.

            
	
               

            	 	 
	
              Effective
                Date:

            	 	
              June
                27, 2007.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	
              Notional
                Amount:

            	 	
              For
                the first Calculation Period (from and including, June 27, 2007 to
                but
                excluding July 15, 2007), the Notional Amount of this Transaction
                for
                purposes of calculating payments due by either party on the first
                Payment
                Date will be $294,000,000.  With respect to any subsequent
                Calculation Period up through and including the Calculation Period
                ending
                on but excluding August 15, 2011, the Notional Amount will be the
                Note
                Balance of the Class A-3b Notes (after giving effect to all amounts
                paid
                on the Payment Date that is the first day of such Calculation Period)
                as
                stated on the Servicer’s monthly investor report relating to such Payment
                Date (the “Actual Balance”).  Party B will determine the
                Notional Amount and will inform Party A of such determination by
                the
                twelfth day of each calendar month using the aggregate outstanding
                principal balance for the Class A-3b Notes prior to giving effect
                to any
                payments of principal of Class A-3b Notes on the following Payment
                Date,
                as shown in the Servicer's monthly investor report relating to such
                Payment Date.

            
	 	 	 
	
              Termination
                Date:

            	 	
              The
                earlier of August 15, 2011 and the date the aggregate outstanding
                principal balance of the Class A-3b Notes has been reduced to
                zero.

            
	 	 	 
	
              Fixed
                Amounts

            	 	 
	
               

            	 	 
	
              Fixed
                Rate Payer:

            	 	
              Party
                B.

            
	 	 	 
	
              Fixed
                Rate Payer

            	 	 
	
              Payment
                Date:

            	 	
              The
                15th
                day
                of each calendar month, subject to adjust­ment in accordance with the
                Following Business Day Convention.

            
	 	 	 
	
              Period
                End Date:

            	 	
              The
                15th
                day
                of each calendar month, with No Adjust­ment.  (This means
                that each Calculation Period for the Fixed Amount will have 30 days,
                except for the Initial Calculation Period, which will commence on
                June 27,
                2007 and end on and excluding July 15, 2007.)

            
	 	 	 
	
              Fixed
                Rate:

            	 	
              5.39%

            
	
               

            	 	 
	
              Fixed
                Rate Day

            	 	 
	
              Count
                Fraction:

            	 	
              30/360

            
	 	 	 
	
              Floating
                Amounts

            	 	 
	 	 	 
	
              Floating
                Rate Payer:

            	 	
              Party
                A.

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    
      	
               

            	 	 
	
              Floating
                Rate Payer

            	 	 
	
              Payment
                Dates:

            	 	
              The
                15th
                day
                of each calendar month, subject to adjust­ment in accordance with the
                Following Business Day Convention.

            
	
               

            	 	 
	
              Floating
                Rate for

            	 	 
	
              Initial
                Calculation

            	 	 
	
              Period:

            	 	
              To
                be determined on June 25th,
                2007
                (excluding spread)

            
	
               

            	 	 
	
              Floating
                Rate Option:

            	 	
              USD-LIBOR-BBA.

            
	 	 	 
	
              Designated
                Maturity:

            	 	
              One
                month.

            
	 	 	 
	
              Spread:

            	 	
              Plus
                0.03%

            
	 	 	 
	
              Floating
                Rate Day

            	 	 
	
              Count
                Fraction:

            	 	
              Actual/360.

            
	 	 	 
	
              Reset
                Dates:

            	 	
              The
                first day of each Floating Rate Payer Calculation
                Period.

            
	 	 	 
	
              Business
                Days:

            	 	
              New
                York and Delaware.

            
	 	 	 
	 	 	 
	
              3.  Account
                Details

            	 	 
	 	 	 
	
              Payments
                to Party A:

            	 	
              BNP
                PARIBAS NEW YORK, NEW YORK

            
	 	 	
              Swift
                Code:  BNPAUS3NXXX

            
	 	 	
              A/C
                00200-194093-001-36

            
	 	 	
              Favor:  BNP
                PARIBAS

            
	 	 	
              Swift
                Code: BNPAFRPP

            
	 	 	
              Attn:
                Swaps and Derivatives Back Office

            
	 	 	 
	 	 	 
	
              Payments
                to Party B:

            	 	
              The
                Bank of New York

            
	 	 	
              ABA
                # 021000018

            
	 	 	
              Acct
                #  111-565

            
	 	 	
              Attn:  John
                Rooney

            
	 	 	
              For
                further credit to:  Ford Credit Auto Owner Trust 2007-A
                Collection Acct TAS #879479

            
	 	 	 
	
              Party
                A Operations

            	 	 
	
              Contact:

            	 	
              BNP
                Paribas

            
	 	 	
              BFI-LSI-CMO-Back
                Office Swaps

            
	 	 	
              ACI:CSB04A1

            
	 	 	
              75450
                Paris Cedex 09

            
	 	 	
              France

            
	 	 	
              Fax:
                +33 1 42 98 67 04

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

    
      	
              Party
                B Operations

            	 	 
	
              Contact:

            	 	
              Ford
                Credit Auto Owner Trust 2007-A

            
	
               

            	 	
              c/o
                U.S. Bank Trust National Association, as Owner Trustee

            
	 	 	
              300
                Delaware Avenue, Ninth Floor

            
	 	 	
              Wilmington,
                Delaware 19801

            
	 	 	
              Attn:  Corporate
                Trust Administration

            
	 	 	
              Telephone:
                (302) 552-3102

            
	 	 	
              Fax:  (302)
                552-3129

            

    

    
       

      with
        copies to:

    
      	
               

            	 	
              The
                Bank of New York,

            
	 	 	
                 as
                Indenture Trustee
                for

            
	 	 	
                 Ford
                Credit Auto Owner Trust 2007-A

            
	 	 	
              101
                Barclay Street

            
	 	 	
              Floor
                8 West

            
	 	 	
              New
                York, New York 10286

            
	 	 	
              Attn:
                Structured Finance Services -

            
	 	 	
              Asset
                Backed Securities, Ford 2007-A

            
	 	 	
              Telephone:
                (212) 815-4389

            
	 	 	
              Fax:  (212)
                815-2493;

            
	 	 	 
	 	 	
              and

            
	 	 	 
	 	 	
              Ford
                Motor Credit Company

            
	 	 	
              c/o
                Ford Motor Company

            
	 	 	
              WHQ,
                One American Road

            
	 	 	
              Suite
                801-C1

            
	 	 	
              Dearborn,
                Michigan  48126

            
	 	 	
              Attention:  Securitization
                Operations Supervisor

            
	 	 	
              Telephone:
                (313) 206-5899

            
	 	 	
              Fax:
                (313) 390-4133

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    Please
      confirm that the foregoing
      correctly sets forth the terms of our agreement by executing this Confirmation
      and returning it to us.

    

    
      	 	
              Best
                Regards,

            
	 	 	 
	 	 	 
	 	
              FORD
                CREDIT AUTO OWNER TRUST 2007-A

            
	 	 	 
	 	
              By:

            	
              U.S.
                BANK TRUST NATIONAL ASSOCIATION,

            
	 	 	
               not
                in its individual capacity

            
	 	 	
               but
                solely as Owner Trustee

            
	 	 	 
	 	 	 
	 	
               By:

            	
              /s/
                Mildred F. Smith

            
	 	
               Name:  Mildred
                F. Smith

            
	 	
               Title:  Vice
                President

            
	 	 	 
	 	 	 
	 	
              BNP
                PARIBAS

            
	 	 	 
	 	 	 
	 	
              By:

            	
              /s/
                Kerri Nuccio

            
	 	
              Name:  Kerri
                Nuccio

            
	 	
              Title:  
                Authorized Signatory

            
	 	
              BNP
                Paribas Securities Corp.

            
	 	
              on
                behalf of BNP Paribas

            

    

    
 

    [SIGNATURE
      PAGE FOR A-3b FRONT END SWAP CONFIRM]ex10_5.htm

    
      

    

    June
      19,
      2007

     

    
      	
              To:

            	
              BNP
                PARIBAS

            
	 	 
	 	 
	
              From:

            	
              FORD
                CREDIT AUTO OWNER TRUST 2007-A

            
	 	
              c/o
                U.S. Bank Trust National Association,

            
	 	
                 as
                Owner Trustee

            
	 	
              300
                Delaware Avenue, Ninth Floor

            
	 	
              Wilmington,
                Delaware 19801

            
	 	
              Attention:
                Corporate Trust Department

            
	 	
              Telephone:  (302)
                552-3200

            
	 	
              Facsimile:  (302)
                552-3129

            
	 	 
	 	
              Re:  Interest
                Rate Swap Reference No.
                MAD66645

            

    

     

    Ladies
      and Gentlemen:

    

    The
      purpose of this letter agreement is to confirm the terms and conditions of
      the
      Swap Transaction entered into between BNP PARIBAS (“Party A”) and Ford Credit
      Auto Owner Trust 2007-A (“Party B”) on the Trade Date listed below (the
“Transaction”).  This letter constitutes a “Confirmation” as referred
      to in the Agreement specified below.

    

    The
      definitions and provisions contained in the 2000 ISDA Definitions (as published
      by the International Swaps and Derivatives Association, Inc.) are incorporated
      into this Confirmation.  For these purposes, all references in those
      Definitions to a “Swap Transaction” will be deemed to apply to the Transaction
      referred to herein.  In the event of any inconsistency between those
      Definitions and this Confirmation, this Confirmation will govern.

    

    1.  This
      Confirmation supplements, forms part of, and is subject to, the ISDA Master
      Agreement and the Schedule thereto, both dated as of June 19, 2007, between
      you and us (as amended, supplemented or otherwise modified from time to time,
      the “Agreement”).  All provisions contained in the Agreement govern
      this Confirmation except as expressly modified below.  Other
      capitalized terms used herein and not otherwise defined will have the meanings
      given them in the Indenture referred to in the Agreement.   In
      the event of any inconsistency between those terms and this Confirmation, this
      Confirmation will govern.

    

    2.  The
      terms of the particular Transaction to which this Confirmation relates are
      as
      follows:

    

    
      	
              Party
                A:

            	 	
              BNP
                PARIBAS

            
	 	 	 
	
              Party
                B:

            	 	
              Ford
                Credit Auto Owner Trust 2007-A.

            
	 	 	 
	
              Trade
                Date:

            	 	
              June
                19, 2007.

            
	
               

            	 	 
	
              Effective
                Date:

            	 	
              June
                27, 2007.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	
              Notional
                Amount:

            	 	
              For
                the first Calculation Period (from and including, June 27, 2007 to
                but
                excluding July 15, 2007), the Notional Amount of this Transaction
                for
                purposes of calculating payments due by either party on the first
                Payment
                Date will be $145,000,000.  With respect to any subsequent
                Calculation Period up through and including the Calculation Period
                ending
                on but excluding June 15, 2012, the Notional Amount will be the Note
                Balance of the Class A-4b Notes (after giving effect to all amounts
                paid
                on the Payment Date that is the first day of such Calculation Period)
                as
                stated on the Servicer’s monthly investor report relating to such Payment
                Date (the “Actual Balance”).  Party B will determine the
                Notional Amount and will inform Party A of such determination by
                the
                twelfth day of each calendar month using the aggregate outstanding
                principal balance for the Class A-4b Notes prior to giving effect
                to any
                payments of principal of Class A-4b Notes on the following Payment
                Date,
                as shown in the Servicer's monthly investor report relating to such
                Payment Date.

            
	
               

            	 	 
	
              Termination
                Date:

            	 	
              The
                earlier of June 15, 2012 and the date the aggregate outstanding principal
                balance of the Class A-4b Notes has been reduced to
                zero.

            
	 	 	 
	
              Fixed
                Amounts

            	 	 
	 	 	 
	
              Fixed
                Rate Payer:

            	 	
              Party
                B.

            
	 	 	 
	
              Fixed
                Rate Payer

            	 	 
	
              Payment
                Date:

            	 	
              The
                15th
                day
                of each calendar month, subject to adjust­ment in accordance with the
                Following Business Day Convention.

            
	 	 	 
	
              Period
                End Date:

            	 	
              The
                15th
                day
                of each calendar month, with No Adjust­ment.  (This means
                that each Calculation Period for the Fixed Amount will have 30 days,
                except for the Initial Calculation Period, which will commence on
                June 27,
                2007 and end on and excluding July 15, 2007.)

            
	 	 	 
	
              Fixed
                Rate:

            	 	
              5.43%

            
	 	 	 
	
              Fixed
                Rate Day

            	 	 
	
              Count
                Fraction:

            	 	
              30/360

            
	 	 	 
	
              Floating
                Amounts

            	 	 
	
               

            	 	 
	
              Floating
                Rate Payer:

            	 	
              Party
                A.

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    
      	
               

            	 	 
	
              Floating
                Rate Payer

            	 	 
	
              Payment
                Dates:

            	 	
              The
                15th
                day
                of each calendar month, subject to adjust­ment in accordance with the
                Following Business Day Convention.

            
	
               

            	 	 
	
              Floating
                Rate for

            	 	 
	
              Initial
                Calculation

            	 	 
	
              Period:

            	 	
              To
                be determined on June 25, 2007 (excluding spread)

            
	
               

            	 	 
	
              Floating
                Rate Option:

            	 	
              USD-LIBOR-BBA.

            
	 	 	 
	
              Designated
                Maturity:

            	 	
              One
                month.

            
	 	 	 
	
              Spread:

            	 	
              Plus
                0.05%

            
	 	 	 
	
              Floating
                Rate Day

            	 	 
	
              Count
                Fraction:

            	 	
              Actual/360.

            
	 	 	 
	
              Reset
                Dates:

            	 	
              The
                first day of each Floating Rate Payer Calculation
                Period.

            
	 	 	 
	
              Business
                Days

            	
               

            	
              New
                York and Delaware.

            
	 	 	 
	 	 	 
	
              3.  Account
                Details

            	 	 
	 	 	 
	
              Payments
                to Party A:

            	 	
              BNP
                PARIBAS NEW YORK, NEW YORK

            
	 	 	
              Swift
                Code:  BNPAUS3NXXX

            
	 	 	
              A/C
                00200-194093-001-36

            
	 	 	
              Favor:  BNP
                PARIBAS

            
	 	 	
              Swift
                Code: BNPAFRPP

            
	 	 	
              Attn:
                Swaps and Derivatives Back Office

            
	 	 	 
	 	 	 
	
              Payments
                to Party B:

            	 	
              The
                Bank of New York

            
	 	 	
              ABA
                # 021000018

            
	 	 	
              Acct
                #  111-565

            
	 	 	
              Attn:  John
                Rooney

            
	 	 	
              For
                further credit to:  Ford Credit Auto Owner Trust 2007-A
                Collection Acct TAS #879479

            
	 	 	 
	
              Party
                A Operations

            	 	 
	
              Contact:

            	 	
              BNP
                Paribas

            
	 	 	
              BFI-LSI-CMO-Back
                Office Swaps

            
	 	 	
              ACI:CSB04A1

            
	 	 	
              75450
                Paris Cedex 09

            
	 	 	
              France

            
	 	 	
              Fax:
                +33 1 42 98 67 04

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

    
      	
              Party
                B Operations

            	 	 
	
              Contact:

            	 	
              Ford
                Credit Auto Owner Trust 2007-A

            
	
               

            	 	
              c/o
                U.S. Bank Trust National Association, as Owner Trustee

            
	 	 	
              300
                Delaware Avenue, Ninth Floor

            
	 	 	
              Wilmington,
                Delaware 19801

            
	 	 	
              Attn:  Corporate
                Trust Administration

            
	 	 	
              Telephone:
                (302) 552-3102

            
	 	 	
              Fax:  (302)
                552-3129

            

    

    

    with
      copies to:

     

    
      	
               

            	 	
              The
                Bank of New York,

            
	 	 	
                 as
                Indenture Trustee
                for

            
	 	 	
                 Ford
                Credit Auto Owner Trust 2007-A

            
	 	 	
              101
                Barclay Street

            
	 	 	
              Floor
                8 West

            
	 	 	
              New
                York, New York 10286

            
	 	 	
              Attn:
                Structured Finance Services -

            
	 	 	
              Asset
                Backed Securities, Ford 2007-A

            
	 	 	
              Telephone:
                (212) 815-4389

            
	 	 	
              Fax:  (212)
                815-2493;

            
	 	 	 
	 	 	
              and

            
	 	 	 
	 	 	
              Ford
                Motor Credit Company

            
	 	 	
              c/o
                Ford Motor Company

            
	 	 	
              WHQ,
                One American Road

            
	 	 	
              Suite
                801-C1

            
	 	 	
              Dearborn,
                Michigan  48126

            
	 	 	
              Attention:  Securitization
                Operations Supervisor

            
	 	 	
              Telephone:
                (313) 206-5899

            
	 	 	
              Fax:
                (313) 390-4133

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    Please
      confirm that the foregoing
      correctly sets forth the terms of our agreement by executing this Confirmation
      and returning it to us.

    

    
      	 	
              Best
                Regards,

            
	 	 	 	 
	 	 	 	 
	 	
              FORD
                CREDIT AUTO OWNER TRUST 2007-A

            
	 	 	 	 
	 	
              By:

            	
              U.S.
                BANK TRUST NATIONAL ASSOCIATION,

            
	 	 	
               not
                in its individual capacity

            
	 	 	
               but
                solely as Owner Trustee

            
	 	 	 	 
	 	 	 	 
	 	 	
              By:

            	
              /s/
                Mildred F. Smith

            
	 	 	
               Name:  Mildred
                F. Smith

            
	 	 	
               Title:  Vice
                President

            
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	
                     BNP
                PARIBAS

            
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	
              By:

            	
              /s/
                Kerri Nuccio

            
	 	 	
              Name:  Kerri
                Nuccio

            
	 	 	
              Title:  
                Authorized Signatory

            
	 	 	
              BNP
                Paribas Securities Corp.

            
	 	 	
              on
                behalf of BNP Paribas

            

    

     

     

    [SIGNATURE
      PAGE FOR A-4b FRONT END SWAP CONFIRM]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00125-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00125-of-00352.parquet"}]]