Common use of Discharge of Purchaser Clause in Contracts

Discharge of Purchaser. Upon any sale made under the powers of sale herein granted and conferred, the sales receipt issued by Secured Party will be sufficient discharge to the purchaser or purchasers at any sale for the purchase money, and such purchaser or purchasers and the heirs, devisees, personal representatives, successors, and assigns thereof will not, after paying such purchase money and receiving such receipt of Secured Party, be obliged to see to the application thereof or be in anywise answerable for any loss, misapplication, or nonapplication thereof.