Common use of Defects in Creation of Guaranteed Obligations Clause in Contracts

Defects in Creation of Guaranteed Obligations. None of the Noteholders shall be concerned to see or inquire into the capacity and powers of the Company or its directors, officers, employees or agents acting or purporting to act on its behalf. All obligations, liabilities and indebtedness purporting to be incurred by the Company in favor of the Noteholders shall be deemed to form part of the Guaranteed Obligations even though the Company may not be a legal entity or the incurring of such obligations, liabilities or indebtedness was irregularly, fraudulently, defectively or informally effected or in excess of the capacity or powers of the Company or its directors, officers, employees or agents and notwithstanding that the Noteholders have specific notice of the capacity and powers of the Company or its directors, officers, employees or agents.

Defects in Creation of Guaranteed Obligations. None of Neither the Noteholders Trustee nor the Holders shall be concerned to see or inquire enquire into the capacity and powers of the Company or its directors, officers, employees or agents acting or purporting to act on its behalf. All obligations, liabilities and indebtedness purporting to be incurred by the Company in favor favour of the Noteholders Trustee or the Holders shall be deemed to form part of the Guaranteed Obligations even though the Company may not be a legal entity or the incurring of such obligations, liabilities or indebtedness was irregularly, fraudulently, defectively or informally effected or in excess of the capacity or powers of the Company or its directors, officers, employees or agents and notwithstanding that the Noteholders Trustee or the Holders have specific notice of the capacity and powers of the Company or its directors, officers, employees or agents.

Defects in Creation of Guaranteed Obligations. None of the Noteholders The Investor shall not be concerned to see or inquire enquire into the capacity and powers of the Company Borrower or its directors, officers, employees or agents acting or purporting to act on its behalf. All obligations, liabilities and indebtedness purporting to be incurred by the Company Borrower in favor favour of the Noteholders Investor shall be deemed to form part of the Guaranteed Obligations even though the Company Borrower may not be a legal entity or the incurring of such obligations, liabilities or indebtedness was irregularly, fraudulently, defectively or informally effected or in excess of the capacity or powers of the Company Borrower or its directors, officers, employees or agents and notwithstanding that the Noteholders have Investor has specific notice of the capacity and powers of the Company Borrower or its directors, officers, employees or agents.