Whether 'N ⊨ θ' holds therefore depends on which model of ZF is taken as the metatheory, not on the sentence θ alone.

Let \(\theta_{\le}(P,R)\) be the formula \[ \exists F\left(\forall x\,\forall y\left( (F(x)=F(y)\to x=y) \land(P(x)\to R(F(x)) \right)\right). \] Now \(\mm\models_s\theta_\le(P,R)\) if and only if \(|s(P)|\le |s(R)|\). Let \(\theta_{\textrm{EQ}}(P,R)\) be the formula \(\theta_{{\le}}(P,R)\land \theta_{{\le}}(R,P)\). Now \(\mm\models_s\phi(P,R)\) if and only if \(|s(P)|=|s(R)|\). Let \(\theta'_{\textrm{EC}}(Y)\) be \[ \exists F\left( \forall x\,\forall y((F(x)=F(y)\to x=y)\land R(F(x)))