The Face array defines the list of faces for the mesh. Each face defines a material index, which gives the face its color properties based on material defined from the material list. Faces are all trianges and define a, b, c indices from the vertex list for the position.
Each vertex can additionally be provided with color, normals and uv. The reason that these are defined here and not in the vertex list, is because the vertex list is intended to be a unique list of positions associated with weight. The attributes of color, normals, and uv define properties of a face-per-point. And as such were included in the face definition for the purposes of defining an interchange format.
In the case of a delivery format, these properties would be declared in the vertex list.