Successor Owner Trustees and Additional Owner Trustees Sample Clauses
The "Successor Owner Trustees and Additional Owner Trustees" clause defines the process for appointing new or additional trustees to manage a trust or similar entity. It typically outlines the circumstances under which a successor trustee may be designated, such as resignation, incapacity, or death of the current trustee, and may also specify how and when additional trustees can be added to share responsibilities. This clause ensures continuity in trust management and provides a clear mechanism for maintaining effective oversight, thereby preventing disruptions or disputes over trustee authority.
Successor Owner Trustees and Additional Owner Trustees. SECTION 9.1. Eligibility Requirements for Owner Trustee.....................19 SECTION 9.2. Resignation or Removal of Owner Trustee........................20 SECTION 9.3. Successor Owner Trustee........................................20 SECTION 9.4. Merger or Consolidation of Owner Trustee.......................21 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee..................21 ARTICLE X.MISCELLANEOUS
Successor Owner Trustees and Additional Owner Trustees. Section 10.01. Eligibility Requirements for Owner Trustee 26 Section 10.02. Resignation or Removal of Owner Trustee 26 Section 10.03. Successor Owner Trustee 27 Section 10.04. Merger or Consolidation of Owner Trustee 27 Section 10.05. Appointment of Co-Trustee or Separate Trustee 27 Section 10.06. Power of Attorney for Co-Trustee or Separate Trustee 28
Successor Owner Trustees and Additional Owner Trustees. Section 9.01.
Successor Owner Trustees and Additional Owner Trustees. Section 9.01 Eligibility Requirements for Owner Trustee Section 9.02 Replacement of Owner Trustee Section 9.03 Successor Owner Trustee Section 9.04 Merger or Consolidation of Owner Trustee Section 9.05 Appointment of Co-Trustee or Separate Trustee
Successor Owner Trustees and Additional Owner Trustees. Section 9.01. Eligibility Requirements for Owner Trustee.................................................26 Section 9.02. Resignation or Removal of Owner Trustee....................................................27 Section 9.03.
Successor Owner Trustees and Additional Owner Trustees. 28 Section 9.01 Eligibility Requirements for Owner Trustee............... 28
Successor Owner Trustees and Additional Owner Trustees. Section 10.01
Successor Owner Trustees and Additional Owner Trustees. 27 Section 10.1 Eligibility Requirements for Owner Trustee 27 Section 10.2 Resignation or Removal of Owner Trustee 27 Section 10.3 Successor Owner Trustee 28 Section 10.4 Merger or Consolidation of Owner Trustee 28 Section 10.5 Appointment of Co-Trustee or Separate Trustee 29 Section 11.1 Supplements and Amendments 30 Section 11.2 No Legal Title to Owner Trust Estate in Certificateholders 32 Section 11.3 Limitation on Rights of Others 32 Section 11.4 Notices 32 Section 11.5 Severability 32 Section 11.6 Separate Counterparts and Electronic Signature 33 Section 11.7 Successors and Assigns 33 Section 11.8 Covenants of the Depositor 33 Section 11.9 No Petition 33 Section 11.10 No Recourse 33 Section 11.11 Headings 33 Section 11.12 Governing Law; Waiver of Jury Trial 34 Section 11.13 Depositor Payment Obligation 34 Section 11.14 Certificates Nonassessable and Fully Paid 34 Section 11.15 Ratification of Prior Actions 34 Section 11.16 Legal Fees Associated with Indemnification 34 Section 11.17 FinCEN Compliance 34 EXHIBIT A Form of Certificate EXHIBIT B Form of Certificate of Trust AMENDED AND RESTATED TRUST AGREEMENT, dated as of April 1, 2022 (as amended, supplemented or otherwise modified and in effect from time to time, this “Agreement”), between CARMAX AUTO FUNDING LLC, a Delaware limited liability company, as depositor (the “Depositor”), and WILMINGTON TRUST, NATIONAL ASSOCIATION, a national banking association, as owner trustee and not in its individual capacity (in such capacity, the “Owner Trustee”).
Successor Owner Trustees and Additional Owner Trustees. Section 10.1. Eligibility Requirements for Owner Trustee Section 10.2. Resignation or Removal of Owner Trustee Section 10.3. Successor Owner Trustee
Successor Owner Trustees and Additional Owner Trustees. 19 Section 9.1. Eligibility Requirements for the Owner Trustee. 19 Section 9.2. Resignation or Removal of the Owner Trustee. 20 Section 9.3. Successor Owner Trustee. 21 Section 9.4. Merger or Consolidation of the Owner Trustee 21 Section 9.5. Appointment of Separate Trustee or Co-Trustee. 21 Section 9.6. Compliance with Delaware Statutory Trust Act 23 ARTICLE X MISCELLANEOUS 23