Control by Noteholders of the Controlling Class. (a) The Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Indenture Trustee with respect to the Notes or exercising any trust or power conferred on the Indenture Trustee; provided, however, that:
Appears in 88 contracts
Samples: Indenture (CarMax Auto Owner Trust 2024-4), Indenture (Carmax Auto Funding LLC), Indenture (CarMax Auto Owner Trust 2024-3)
Control by Noteholders of the Controlling Class. (a) The Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Indenture Trustee with respect to the Notes or exercising any trust or power conferred on the Indenture Trustee; provided, however, that:
Appears in 17 contracts
Samples: Indenture (CarMax Auto Owner Trust 2011-3), Indenture (CarMax Auto Owner Trust 2011-2), Indenture (CarMax Auto Owner Trust 2010-2)
Control by Noteholders of the Controlling Class. (a) The Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Indenture Trustee with respect to the Notes or exercising any trust or power conferred on the Indenture Trustee; provided, however, that:
Appears in 16 contracts
Samples: Indenture (Mercedes-Benz Auto Receivables Trust 2019-1), Indenture (Mercedes-Benz Auto Receivables Trust 2019-1), Indenture (Mercedes-Benz Auto Receivables Trust 2018-1)
Control by Noteholders of the Controlling Class. (a) The Holders of Notes evidencing not less than 51% [51]% of the Note Balance of the Controlling Class shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Indenture Trustee with respect to the Notes or exercising any trust or power conferred on the Indenture Trustee; provided, however, that:
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