Common use of Certain Litigation Matters Clause in Contracts

Certain Litigation Matters. The Owner Trustee and the Delaware Trustee shall provide prompt written notice to the Depositor, the Seller and the Servicer of any action, proceeding or investigation known to the Owner Trustee or the Delaware Trustee that could reasonably be expected to adversely affect the Trust or the Owner Trust Estate.

Appears in 24 contracts

Samples: Trust Agreement (CarMax Auto Owner Trust 2012-2), Trust Agreement (CarMax Auto Owner Trust 2012-1), Trust Agreement (CarMax Auto Owner Trust 2011-3)

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Certain Litigation Matters. The Owner Trustee and the Delaware Trustee shall provide prompt written notice to the Depositor, the Seller Seller, and the Servicer of any action, proceeding or investigation known to the Owner Trustee or the Delaware Trustee that could reasonably be expected to adversely affect the Trust or the Owner Trust EstateEstate or their respective rights or obligations under any of the Transaction Documents.

Appears in 1 contract

Samples: Trust Agreement (Pooled Auto Securities Shelf LLC)

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