Common use of Protected Purchaser Clause in Contracts

Protected Purchaser. Effective upon the recordation by the appropriate Successor Entity of the ownership of the Securities by the Assignee on the books and records of such Successor Entity, Assignee shall become a protected purchaser of such Securities, free and clear of any adverse claim (as the terms “protected purchaser” and “adverse claim” are defined in the Uniform Commercial Code in effect on the Closing Date in the State of Texas).

Protected Purchaser. Effective upon the recordation by the appropriate Successor Entity of the ownership of the respective Tendered Securities by the Assignee on the books and records of such Successor Entity, Assignee shall become a protected purchaser of such Tendered Securities, free and clear of any adverse claim (as the terms “protected purchaser” and “adverse claim” are defined in the Uniform Commercial Code in effect on the Closing Date in the State of Texas).

Protected Purchaser. Effective upon the recordation by the appropriate Successor Entity of the ownership of the respective Tendered Securities by the such Assignee on the books and records of such Successor Entity, such Assignee shall become a protected purchaser of such Securities, free and clear of any adverse claim (as the terms “protected purchaser” and “adverse claim” are defined in the Uniform Commercial Code in effect on the Closing Date in the State of Texas).