Common use of Termination of the Obligations Clause in Contracts

Termination of the Obligations. The obligations of the Servicer, the Seller and the Owner Trustee under this Agreement will terminate upon the earlier of the maturity or other liquidation of the last outstanding Receivable and the disposition of any amounts received upon liquidation of any remaining Receivables and the payment to the Noteholders and distribution to the Certificateholders by the Trust of all amounts required to be paid or distributed to them under the Indenture and the Trust Agreement.

Appears in 52 contracts

Samples: Sale and Servicing Agreement (CarMax Auto Owner Trust 2024-2), Sale and Servicing Agreement (Carmax Auto Funding LLC), Sale and Servicing Agreement (CarMax Auto Owner Trust 2024-1)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.