Common use of Effect of Sale, etc Clause in Contracts

Effect of Sale, etc. (a) Any sale or sales pursuant to the provisions hereof or of any other Credit Document, whether under the power of sale granted hereby or thereby or pursuant to any legal proceedings, shall operate to divest the Issuer of all right, title, interest, claim and demand whatsoever, either at law or in equity, of, in and to the Trust Estate or other Collateral, or any part thereof, so sold, and any Property so sold shall be free and clear of any and all rights of redemption by, through or under the Issuer. At any such sale, the holder of any Note may bid for and purchase the Property sold and may make payment therefor as set forth below, and any Note Holder so purchasing any such Property, upon compliance with the terms of sale may hold, retain and dispose of such Property without further accountability. (b) The receipt by any Trustee, or by any Person authorized under any judicial proceedings to make any such sale, of the proceeds of any such sale shall be a sufficient discharge to any purchaser of the Trust Estate or other Collateral, or of any part thereof, sold as aforesaid; and no such purchaser shall be bound to see to the application of such proceeds, or be bound to inquire as to the authorization, necessity or propriety of any such sale. In the event that, at any such sale, any holder of Outstanding Notes is the successful purchaser, it may, in paying the purchase price, turn in any of its Notes in lieu of cash in the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and if the cash amounts so payable thereon shall be less than the amount due therein, said Notes shall be returned to the holders thereof after a notation of each partial prepayment shall have been made thereon.

Effect of Sale, etc. (a) 5.16.1 Any sale or sales resales pursuant to the provisions hereof or of any other Credit Documentthis Agreement, whether under the any right or power of sale granted hereby or thereby or pursuant to any legal proceedings, shall operate to divest divest, to the Issuer full extent permitted by applicable law, each Debtor of all right, title, interest, claim and demand whatsoever, whatsoever either at law or in equity, of, in and to the Trust Estate or other Pledged Collateral, or any part thereof, so sold, and any Property so sold shall shall, to the full extent permitted by applicable law, be free and clear of any and all rights of redemption by, through or under the Issuersuch Debtor. At any such sale, the holder of sale any Note Revolving Credit Lender may bid for and purchase the Property sold Pledged Collateral sold, to the full extent permitted by applicable law, and may make payment therefor as set forth belowin clause (b) of this Section 5.16, and any Note Holder such Revolving Credit Lender so purchasing any such PropertyPledged Collateral, upon compliance with the terms of sale sale, may hold, retain and dispose of such Property Pledged Collateral without further accountability. (b) 5.16.2 The receipt by any Trusteethe Administrative Agent, or by any Person authorized under any judicial proceedings to make any such sale, of the proceeds of any such sale shall be a sufficient discharge to any purchaser of the Trust Estate or other Pledged Collateral, or of any part thereof, sold as aforesaid; and no such purchaser shall be bound to see to the application of such proceeds, or be bound to inquire as to the authorization, necessity or propriety of any such sale. In the event that, at any such sale, any holder of Outstanding Notes Revolving Credit Lender is the successful purchaser, it mayshall be entitled, in paying for the purchase pricepurpose of making settlement or payment, turn in any of its Notes in lieu of cash in to use and apply such Pledged Collateral to the Secured Obligations by crediting thereon the amount which shall, upon distribution apportionable and applicable thereto out of the net proceeds of such sale, be payable thereon, and if the cash amounts so payable thereon shall be less than the amount due therein, said Notes shall be returned to the holders thereof after a notation of each partial prepayment shall have been made thereon.

Effect of Sale, etc. (a) Any sale or sales pursuant to the provisions hereof or of any other Credit Security Document, whether under the power of sale granted hereby or thereby or pursuant to any legal proceedings, shall operate to divest the Issuer of all right, title, interest, claim and demand whatsoever, either at law or in equity, of, in and to the Trust Estate or other Collateral, or any part thereof, so sold, and any Property so sold shall be free and clear of any and all rights of redemption by, through or under the Issuer. At any such sale, the holder of any Note Secured Obligation may bid for and purchase the Property sold and may make payment therefor as set forth below, and any Note Holder holder of a Secured Obligation so purchasing any such Property, upon compliance with the terms of such sale may hold, retain and dispose of such Property without further accountability. (b) The receipt by any the Trustee, or by any Person authorized under any judicial proceedings to make any such sale, of the proceeds of any such sale shall be a sufficient discharge to any purchaser of the Trust Estate or other Collateral, or of any part thereof, sold as aforesaid; and no such purchaser shall be bound to see to the application of such proceeds, or be bound to inquire as to the authorization, necessity or propriety of any such sale. In the event that, at any such sale, any holder of Outstanding Notes Secured Obligations is the successful purchaser, it may, in paying the purchase price, turn in any of its Notes promissory notes evidencing the Secured Obligations in lieu of cash in the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and if the cash amounts so payable thereon shall be less than the amount due therein, said Notes promissory notes shall be returned to the holder or holders thereof after a notation of each partial prepayment shall have been made thereon.

Effect of Sale, etc. (a) Any sale or sales resales pursuant to the ------------------- provisions hereof or of any other Credit Documentthis Agreement, whether under the any right or power of sale granted hereby or thereby or pursuant to any legal proceedings, shall operate to divest divest, to the Issuer full extent permitted by applicable law, each Debtor of all right, title, interest, claim and demand whatsoever, whatsoever either at law or in equity, of, in and to the Trust Estate or other Pledged Collateral, or any part thereof, so sold, and any Property so sold shall shall, to the full extent permitted by applicable law, be free and clear of any and all rights of redemption by, through or under the Issuersuch Debtor. At any such sale, the holder of sale any Note Lender may bid for and purchase the Property sold Pledged Collateral sold, to the full extent permitted by applicable law, and may make payment therefor as set forth belowin clause (b) of this Section 5.16, and any Note Holder such Lender so purchasing any such PropertyPledged Collateral, upon compliance with the terms of sale sale, may hold, retain and dispose of such Property Pledged Collateral without further accountability. (b) The receipt by any Trusteethe Administrative Agent, or by any Person authorized under any judicial proceedings to make any such sale, of the proceeds of any such sale shall be a sufficient discharge to any purchaser of the Trust Estate or other Pledged Collateral, or of any part thereof, sold as aforesaid; and no such purchaser shall be bound to see to the application of such proceeds, or be bound to inquire as to the authorization, necessity or propriety of any such sale. In the event that, at any such sale, any holder of Outstanding Notes Lender is the successful purchaser, it mayshall be entitled, in paying for the purchase pricepurpose of making settlement or payment, turn in any of its Notes in lieu of cash in to use and apply such Pledged Collateral to the Secured Obligations by crediting thereon the amount which shall, upon distribution apportionable and applicable thereto out of the net proceeds of such sale, be payable thereon, and if the cash amounts so payable thereon shall be less than the amount due therein, said Notes shall be returned to the holders thereof after a notation of each partial prepayment shall have been made thereon.

Effect of Sale, etc. (a) Any sale or sales resales pursuant to the provisions hereof or of any other Credit Documentthis Agreement, whether under the any right or power of sale granted hereby or thereby or pursuant to any legal proceedings, shall operate to divest the Issuer each Debtor of all right, title, interest, claim and demand whatsoever, whatsoever either at law or in equity, of, in and to the Trust Estate or other Pledged Collateral, or any part thereof, so sold, and any Property so sold shall be free and clear of any and all rights of redemption by, through or under the Issuersuch Debtor. At any such sale, the holder of sale any Note Lender may bid for and purchase the Property Pledged Collateral sold and may make payment therefor as set forth belowin clause (b) of this Section 5.16, and any Note Holder such Lender so purchasing any such PropertyPledged Collateral, upon compliance with the terms of sale sale, may hold, retain and dispose of such Property Pledged Collateral without further accountability. (b) The receipt by any Trusteethe Administrative Agent, or by any Person authorized under any judicial proceedings to make any such sale, of the proceeds of any such sale shall be a sufficient discharge to any purchaser of the Trust Estate or other Pledged Collateral, or of any part thereof, sold as aforesaid; and no such purchaser shall be bound to see to the application of such proceeds, or be bound to inquire as to the authorization, necessity or propriety of any such sale. In the event that, at any such sale, any holder of Outstanding Notes Lender is the successful purchaser, it mayshall be entitled, in paying for the purchase pricepurpose of making settlement or payment, turn in any of its Notes in lieu of cash in to use and apply such Pledged Collateral to the Secured Obligations by crediting thereon the amount which shall, upon distribution apportionable and applicable thereto out of the net proceeds of such sale, be payable thereon, and if the cash amounts so payable thereon shall be less than the amount due therein, said Notes shall be returned to the holders thereof after a notation of each partial prepayment shall have been made thereon.

Effect of Sale, etc. (a) Any sale or sales pursuant to the provisions hereof or of any other Credit Project Document, whether under the power of sale granted hereby or thereby or pursuant to any legal proceedings, shall operate to divest the Issuer of all right, title, interest, claim and demand whatsoever, either at law or in equity, of, in and to the Trust Estate or other Collateral, or any part thereof, so sold, and any Property so sold shall be free and clear of any and all rights of redemption by, through or under the Issuer. At any such sale, the holder of any Note may bid for and purchase the Property sold and may make payment therefor as set forth below, and any Note Holder so purchasing any such Property, upon compliance with the terms of sale may hold, retain and dispose of such Property without further accountability. (b) The receipt by any Trustee, or by any Person authorized under any judicial proceedings to make any such sale, of the proceeds of any such sale shall be a sufficient discharge to any purchaser of the Trust Estate or other Collateral, or of any part thereof, sold as aforesaid; and no such purchaser shall be bound to see to the application of such proceeds, or be bound to inquire as to the authorization, necessity or propriety of any such sale. In the event that, at any such sale, any holder of Outstanding Notes is the successful purchaser, it may, in paying the purchase price, turn in any of its Notes in lieu of cash in the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and if the cash amounts so payable thereon shall be less than the amount due therein, said Notes shall be returned to the holders thereof after a notation of each partial prepayment shall have been made thereon.

Effect of Sale, etc. (a) Any sale or sales pursuant to the provisions hereof or of any other Credit Documentthis Agreement, whether under the any right or power of sale granted hereby or thereby or pursuant to any legal proceedings, shall operate to divest the Issuer Individual Guarantor of all right, title, interest, claim and demand whatsoever, either at law or in equity, of, in and to the Trust Estate or other Collateral, or any part thereof, so sold, and any Property so sold shall be free and clear of any and all rights of redemption by, through or under the Issuersuch Obligor. At any such sale, the holder of sale any Note Lender may bid for and purchase the Property sold and may make payment therefor as set forth belowin clause (b) of this Section 4.04, and any Note Holder such Lender so purchasing any such Property, upon compliance with the terms of sale sale, may hold, retain and dispose of such Property without further accountability. (b) The receipt by any Trusteethe Administrative Agent, or by any Person authorized under any judicial proceedings to make any such sale, of the proceeds of any such sale shall be a sufficient discharge to any purchaser of the Trust Estate or other Collateral, or of any part thereof, sold as aforesaid; and no such purchaser shall be bound to see to the application of such proceeds, or be bound to inquire as to the authorization, necessity or propriety of any such sale. In the event that, at any such sale, any holder of Outstanding Notes Lender is the successful purchaser, it mayshall be entitled, in paying for the purchase pricepurpose of making settlement or payment, turn in any of its Notes in lieu of cash in to use and apply such Collateral to the Guarantied Obligations by crediting thereon the amount which shall, upon distribution apportionable and applicable thereto out of the net proceeds of such sale, be payable thereon, and if the cash amounts so payable thereon shall be less than the amount due therein, said Notes shall be returned to the holders thereof after a notation of each partial prepayment shall have been made thereon.

Effect of Sale, etc. (a) Any sale or sales properly completed pursuant to the provisions hereof or of any other Credit Documentthis Agreement and applicable law, whether under the any right or power of sale granted hereby or thereby or pursuant to any legal proceedings, shall operate to divest the Issuer any Pledgor of all right, title, interest, claim and demand whatsoever, either at law or in equity, of, in and to the Trust Estate or other Pledged Collateral, or any part thereof, so sold, and any Property Pledged Collateral so sold shall be free and clear of any and all rights of redemption by, through or under the Issuerany Pledgor. At any such sale, sale the holder of any Note Lender may bid for and purchase the Property Pledged Collateral sold and may make payment therefor as set forth belowin clause (b) of this Section 4.4, and any Note Holder so purchasing any such Property, upon compliance with the terms of sale may hold, retain and dispose of such Property Pledged Collateral without further accountability. (b) The receipt by any Trusteethe Lender, or by any Person authorized under any judicial proceedings to make any such sale, of the proceeds of any such sale shall be a sufficient discharge to any purchaser of the Trust Estate or other Pledged Collateral, or of any part thereof, sold as aforesaid; and no such purchaser shall be bound to see to the application of such proceeds, or be bound to inquire as to the authorization, necessity or propriety of any such sale. In the event that, at any such sale, any holder of Outstanding Notes the Lender is the successful purchaser, it mayshall be entitled, in paying for the purchase pricepurpose of making settlement or payment, turn in any of to use and apply such Pledged Collateral to its Notes in lieu of cash in Secured Obligations by crediting thereon the amount which shall, upon distribution apportionable and applicable thereto out of the net proceeds of such sale, be payable thereon, and if the cash amounts so payable thereon shall be less than the amount due therein, said Notes shall be returned to the holders thereof after a notation of each partial prepayment shall have been made thereon.