Persons Dealing with Lender Clause Samples
Persons Dealing with Lender. No Person dealing with the Lender or any of its agents shall be required to enquire whether an Event of Default has occurred, or whether the powers which the Lender is purporting to exercise have become exercisable, or whether any moneys remain due under this Agreement, or to see to the application of any moneys paid to the Lender, and in the absence of fraud on the part of such Person, such dealing shall be deemed to be within the powers hereby conferred and to be valid and effective accordingly.
Persons Dealing with Lender. No person dealing with the lender exercising any of these rights and powers will be:
(i) not answerable for any loss: answerable for the loss, misapplication or non-application of any money paid to the lender, or be obliged or concerned to see to its application; or
(ii) not obliged to enquire: obliged or concerned to enquire whether any default has been made, whether any notice has been given, whether the right or power has been exercised has become exercisable or otherwise as to the necessity, expediency, regularity or propriety for or of the action taken by the lender or the receiver or be affected by notice that no such default has been made, that no notice has been given, that the right or power has not become exercisable or that the exercise of that right or power is otherwise unnecessary,inepedient, irregular or improper.