Common use of No Control by Issuer or Third Parties Concerning Subject Accounts Clause in Contracts

No Control by Issuer or Third Parties Concerning Subject Accounts. The Securities Intermediary shall not comply with any instructions of the Issuer or the Servicer (except to the extent permitted under Section 3.1(a)) concerning the Subject Accounts (including any order that is originated by the Issuer or the Servicer and that would require the Securities Intermediary to make a free delivery of Subject Accounts to the Issuer or any other person). Additionally, the Securities Intermediary shall not agree with any third party (other than the Secured Party) that the Securities Intermediary will comply with orders originated by such third party concerning the Subject Accounts.

Appears in 19 contracts

Samples: Securities Account Control Agreement (Carmax Auto Funding LLC), Securities Account Control Agreement (CarMax Auto Owner Trust 2024-4), Securities Account Control Agreement (Carmax Auto Funding LLC)

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