Common use of Certain Litigation Matters Clause in Contracts

Certain Litigation Matters. The Owner Trustee shall provide prompt written notice to the Depositor, the Seller, the Servicer and the Insurer of any action, proceeding or investigation known to the Owner Trustee that could reasonably be expected to adversely affect the Trust or the Owner Trust Estate or the rights or obligations of the Insurer under any of the Transaction Documents. If no Insurer Default shall have occurred and be continuing, and neither the Depositor nor CarMax shall be actively defending any such action, proceeding or investigation, then the Owner Trustee shall, upon written notice from the Insurer, allow the Insurer to institute, assume or control the defense of such action, proceeding or investigation.

Certain Litigation Matters. The Owner Trustee -------------------------- shall provide prompt written notice to the Depositor, the Seller, the Servicer and the Insurer of any action, proceeding or investigation known to the Owner Trustee that could reasonably be expected to adversely affect the Trust or the Owner Trust Estate or the rights or obligations of the Insurer under any of the Transaction Documents. If no Insurer Default shall have occurred and be continuing, and neither the Depositor nor CarMax shall be actively defending any such action, proceeding or investigation, then the Owner Trustee shall, upon written notice from the Insurer, allow the Insurer to institute, assume or control the defense of such action, proceeding or investigation.

Certain Litigation Matters. The Owner Trustee shall provide prompt written notice to the Depositor, the Seller, the Servicer and the Insurer of any action, proceeding or investigation known to the Owner Trustee that could reasonably be expected to adversely affect the Trust Issuer or the Owner Trust Estate or the rights or obligations of the Insurer under any of the Transaction Basic Documents. If So long as no Insurer Default shall have occurred and be continuing, and neither the Depositor nor CarMax the Seller shall be actively defending any such action, proceeding or investigation, then the Owner Trustee shall, upon written notice from the Insurer, allow the Insurer to institute, assume or control the defense of such action, proceeding or investigation.