Hi @Chris,
Yes, that can be confusing. The reason it’s happening is because the engine is temporary assigning a placeholder texture on all used material slots while the texture maps get fetched and uploaded to the GPU.
Otherwise the shader will fail to run and the model can’t render at all.
You can get a reference to all assets used by another asset, in your case this material, using a private property available initially when the asset is first loaded.
Take a look at this thread for more info: