Common use of Finality of Sale Clause in Contracts

Finality of Sale. A sale of the Vessel made pursuant to this Mortgage, whether under the power of sale hereby granted or any judicial proceedings, shall operate to divest all right, title and interest of any nature whatsoever of the Mortgagor therein and thereto, and shall bar the Mortgagor, its successors and assigns, and all persons claiming by, through or under them. No purchaser shall be bound to inquire whether notice has been given or whether any Default has occurred, or as to the propriety of the sale, or as to application of the proceeds thereof. In case of any such sale, any purchaser who is the holder of this Mortgage shall be entitled, for the purpose of making settlement or payment for the Vessel, to apply the balance due under this Mortgage or a part thereof as part or all of the purchase price to the extent of the amount remaining due and unpaid. At any such sale, the holder of this Mortgage may bid for and purchase the Vessel and upon compliance with the terms of sale may hold, retain and dispose of the Vessel without further accountability.

Finality of Sale. A Any sale of the Vessel made pursuant to in pursuance of -------- -- ---- this Mortgage, whether under by exercise of the power of sale hereby granted herein or by virtue of any judicial proceedings, shall operate to divest all right, title and interest of any nature whatsoever of the Mortgagor Owner therein and thereto, and shall bar the MortgagorOwner, its successors and assigns, and all persons claiming by, through or under them. No purchaser shall be bound to inquire whether notice has been given given, or whether any Default default has occurred, or as to the propriety of the sale, or as to the application of the proceeds thereof. In the case of any such sale, any purchaser who is the holder of this Mortgage any of the Obligations shall be entitled, for the purpose of making settlement or payment for the Vesselproperty purchased and subject to the sharing provisions among the Purchasers set forth in the Intercreditor Agreement, to apply the balance due under this Mortgage the Note Agreement or a part thereof as part or all of the purchase price to the extent of the amount remaining due and unpaidunpaid thereon. At any such sale, the holder of this Mortgage any Obligations may bid for and purchase the Vessel such property and upon compliance with the terms of sale may hold, retain and dispose of the Vessel such property without further accountabilityaccountability therefor.

Finality of Sale. A Any sale of the Vessel made pursuant to in pursuance of ---------------- this Mortgage, whether under by exercise of the power of sale hereby granted herein or by virtue of any judicial proceedings, shall operate to divest all right, title and interest of any nature whatsoever of the Mortgagor Owner therein and thereto, and shall bar the MortgagorOwner, its successors and assigns, and all persons claiming by, through or under them. No purchaser shall be bound to inquire whether notice has been given given, or whether any Default default has occurred, or as to the propriety of the sale, or as to the application of the proceeds thereof. In the case of any such sale, any purchaser who is the holder of this Mortgage any of the Obligations shall be entitled, for the purpose of making settlement or payment for the Vesselproperty purchased and subject to the sharing provisions among the Purchasers set forth in the Intercreditor Agreement, to apply the balance due under this Mortgage the Note Agreement or a part thereof as part or all of the purchase price to the extent of the amount remaining due and unpaidunpaid thereon. At any such sale, the holder of this Mortgage any Obligations may bid for and purchase the Vessel such property and upon compliance with the terms of sale may hold, retain and dispose of the Vessel such property without further accountabilityaccountability therefor.

Finality of Sale. A sale of the Vessel made pursuant to this MortgageMortgage Agreement, whether under the power of sale hereby granted or any judicial proceedings, shall operate to divest all right, title and interest of any nature whatsoever of the Mortgagor therein and thereto, and shall bar the Mortgagor, its successors and assigns, and all persons claiming by, through or under them. No purchaser shall be bound to inquire whether notice has been given or whether any Default has occurred, or as to the propriety of the sale, or as to application of the proceeds thereof. In case of any such sale, any purchaser who is the holder of this Mortgage Agreement shall be entitled, for the purpose of making settlement or payment for the Vessel, to apply the balance due under this Mortgage Agreement or a part thereof as part or all of the purchase price to the extent of the amount remaining due and unpaid. At any such sale, the holder of this Mortgage Agreement may bid for and purchase the Vessel and upon compliance with the terms of sale may hold, retain and dispose of the Vessel without further accountability.