No duty to enquire. No person dealing with the Chargee or any Receiver or any Delegate shall be concerned to enquire:
(a) whether the power or rights conferred by or pursuant to this Deed are exercisable;
(b) whether any consents, regulations, restrictions or directions relating to such rights have been obtained or complied with;
(c) otherwise as to the propriety or regularity of acts purporting or intended to be in exercise of any such rights; or
(d) as to the application of any money borrowed or raised.
No duty to enquire. Each Member/Issuer agrees and acknowledges that the Exchange shall not be under any duty to enquire into, investigate or ascertain whether any instruction, request or transaction is authentic, legal, valid or enforceable (as the case may be), whether any transaction or the underlying contract connected with such transaction is void or voidable, or whether any transaction is permitted under the applicable token terms and conditions. The Exchange shall be entitled to assume that all instructions, requests or transactions are authentic, legal, valid and enforceable (as the case may be), that all transactions and the underlying contracts connected with such transactions are not void or voidable, and that all transactions are permitted under the relevant token terms and conditions and the Exchange shall be under no duty to reject, reverse, adjust or modify any instruction, request or transaction by reason that it was not legal, valid or enforceable, that any transaction or the underlying contract connected with such transaction is void or voidable, or that any transaction is not permissible under the relevant token terms and conditions. Notwithstanding the foregoing, where the Exchange seeks verification, confirmation or clarification of any instruction, request or transaction received, it shall not be liable to the Member/Issuer for any losses whatsoever in relation to any delay resulting from the Exchange seeking verification, confirmation or clarification or from any refusal to act where the Exchange does not receive in its discretion satisfactory confirmation or clarification of such instruction, request or transaction; and
No duty to enquire. No purchaser from, or other person dealing with, the Security Trustee and/or any Receiver shall be obliged or concerned to enquire whether the right of the Security Trustee or any Receiver to exercise any of the powers conferred by this Deed has arisen or become exercisable, or whether any of the Liabilities remains outstanding or be concerned with notice to the contrary, or whether any event has happened to authorise the Receiver to act or as to the propriety or validity of the exercise or purported exercise of any such power and the title of such a purchaser and the position of such a person shall not be impeachable by reference to any of those matters.
No duty to enquire. The UK Security Trustee shall be entitled to accept without enquiry, requisition, objection or investigation such title as each of the Loan Parties may have to any of the Collateral.
No duty to enquire. 8.1.1 The Account Bank shall not be under any obligation to enquire as to the purpose of any withdrawal from a Borrower Account.
8.1.2 The Account Bank shall be entitled to assume, except where it has actual notice of any fraud, bad faith or wilful default by an Obligor, that all instructions given by the relevant Obligor, the Cash Manager, the Borrower Standstill Cash Manager, the Borrower Security Trustee or any Receiver appointed by the Borrower Security Trustee to withdraw or transfer amounts from the relevant Borrower Account are given in accordance with schedule 2 (Post-Enforcement Priority of Payments) to the Borrower STID, schedule 8 (Cash Management) to the Common Terms Agreement and this Agreement.
8.1.3 Any instruction, certificate or document delivered pursuant to this Agreement shall be conclusive in the absence of manifest error.
8.1.4 The Account Bank shall be entitled to act on reliance of any certificate or document so delivered in the absence of manifest error. The Account Bank shall be entitled to rely upon all information given to it by an Obligor, a Cash Manager, the Borrower Standstill Cash Manager, the Borrower Security Trustee or any Receiver appointed by the Borrower Security Trustee, as applicable, without the need for further verification on its part.
8.1.5 The Account Bank shall not be liable for any losses resulting from any delay or failure to perform its obligations under this Agreement where such delay or failure results from a delay or failure to provide it with sufficient information required by it unless caused by its gross negligence, wilful default, fraud or bad faith or from the
No duty to enquire. No person dealing with Investor, any Receiver or any Delegate shall be concerned to enquire:
(a) whether the power or rights conferred by or pursuant to any Transaction Document are exercisable;
(b) whether any consents, regulations, restrictions or directions relating to such rights have been obtained or complied with;
(c) otherwise as to the propriety or regularity of acts purporting or intended to be in exercise of any such rights; or
(d) as to the application of any money borrowed or raised.
No duty to enquire. No person dealing with the Security Agent, any other Finance Party or any Delegate shall be concerned to enquire:
(a) whether the rights conferred by or pursuant to any Finance Document are exercisable;
(b) whether any consents, regulations, restrictions or directions relating to such rights have been obtained or complied with;
(c) otherwise as to the propriety or regularity of acts purporting or intended to be in exercise of any such rights; or
(d) as to the application of any money borrowed or raised.
No duty to enquire. The Security Trustee may assume without enquiry that each Company and/or each other person is duly performing and observing and/or, as the case may be, is in compliance with all the representations, warranties, undertakings, covenants, conditions, provisions and obligations contained in any UK Security Document on its part to be performed, observed or complied with and that no Event of Default or the like has occurred unless an officer of the Security Trustee (while active on matters relating to the Companies) acquires actual knowledge to the contrary and that if the Security Trustee receives any instructions or directions from the Administrative Agent to take any action in relation to the Trust Property, it may assume that all applicable conditions under the Loan Documents for taking that action have been satisfied.
No duty to enquire. No purchaser from or other person dealing with the Mortgagee or any Receiver, its agents or delegates, shall be concerned to enquire whether this Deed has become enforceable, or whether any power exercised or purported to be exercised has become exercisable, or whether any of the Secured Liabilities remain due upon this Deed, or as to the necessity or expediency of any stipulations and conditions subject to which the sale of the Vessel is made, or otherwise as to the propriety or regularity of the sale of the Vessel or to see to the application of any money paid to the Mortgagee or such Receiver, or its agents or delegates, and each such dealing shall be deemed to be within the powers conferred by this Deed and to be valid and effectual accordingly.
No duty to enquire. (a) Any person dealing with the Mortgagee, any Receiver or any Attorney in relation to the exercise by any of them of a right under this document shall not be concerned to enquire whether:
(i) the right is exercisable or properly exercised;
(ii) the Receiver or Attorney is properly appointed;
(iii) any moneys paid by it to the Mortgagee, Receiver or Attorney are properly applied, and the title of that person to any property acquired by it from the Mortgagee, Receiver or Attorney, will not be adversely affected by the right not being exercisable or any improper appointment, exercise of the right or application of moneys by the Mortgagee, any Receiver or any Attorney of which it does not have actual notice.
(b) The benefit of clause 12.2
(a) is held on trust for the benefit of the Mortgagee and each person dealing with the Mortgagee, any Receiver or Attorney.
