{"url_path":"/sec/cik-0002142044/8-k/2026-07-16/item-1-01","section_key":"item-1-01","section_title":"Item 1.01 Entry into a Material Definitive Agreement**","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-07-16","source_url":"https://www.sec.gov/Archives/edgar/data/1259380/0001193125-26-305930-index.html","accession_number":"0001193125-26-305930","cik":"0002142044","ticker":null,"issuer_name":"CarMax Auto Owner Trust 2026-3","edgar_url":"https://www.sec.gov/Archives/edgar/data/2142044/0001193125-26-305930-index.html","primary_entity_key":"0001259380","primary_entity_name":"CARMAX AUTO FUNDING LLC"},"word_count":221,"has_tables":true,"body_markdown":"**Item 1.01. Entry into a Material Definitive Agreement**\n\nOn July 14, 2026, CarMax Business Services, LLC (“CarMax Business Services”) and CarMax Auto Funding LLC (the “Depositor”) entered\ninto an Underwriting Agreement with Scotia Capital (USA) Inc., as representative of the several underwriters named therein (collectively, the “Underwriters”), whereby each of the Underwriters has severally agreed to purchase\n$1,333,123,000 aggregate principal balance of various classes of Asset-backed Notes to be issued by CarMax Auto Owner Trust 2026-3 (the “Issuing Entity”), a Delaware statutory trust created\npursuant to that certain Trust Agreement, dated as of June 10, 2026, as will be amended and restated by the Amended and Restated Trust Agreement to be dated as of July 1, 2026 between the Depositor and Wilmington Trust, National\nAssociation, as owner trustee (the “Owner Trustee”). The Underwriting Agreement provides that the obligations of the Underwriters are subject to specified conditions precedent and that the Underwriters will purchase the Offered Notes\n(defined below).\n\nThe sale of the Offered Notes has been registered pursuant to the Securities Act of 1933, as amended (the “Securities Act”)\nunder a Registration Statement on Form SF-3 (Commission File No. 333-288943), filed on July 25, 2025. It is anticipated that the Notes will be issued on or\nabout July 22, 2026 (the “Issuance Date”).\n\nThe Underwriting Agreement is attached as Exhibit 1.1."}