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Make the marinade: Add all ingredients except chicken in a small bowl. Whisk to combine.
Marinate: Place chicken in a large gallon size ziploc bag and add the marinade. Close the bag, massage together to coat all the chicken and refrigerate for 2 to 6 hours. (Do not marinate longer than 8 hours or the chicken will get tough and begin to break down.)
Prepare the grill: Preheat grill to medium heat (350°F-375°F) for indirect cooking. This means light the burners (or charcoal) on one half of the grill, and leave them off on the other half. This creates a zone of direct heat and a zone of indirect heat. Grease the preheated grill grates to prevent sticking by wiping them down with a folded paper towel that's been soaked in vegetable oil.
Grill: Remove the chicken from the marinade and shake off any excess liquid. Grill chicken skin side down over direct heat for about 8 to 10 minutes with the lid closed as much as possible, until the skin is crispy and golden. Flip chicken over, move to indirect heat and grill for 15 to 20 minutes, until the meat is firm and the temperature registers 165°F. (Don't have an instant-read thermometer? Here's the one I recommend.)
Time to eat! Serve pollo asado with warm corn tortillas or flour tortillas, Mexican street corn (elotes) and Mexican rice.