Common use of Protection of Persons Dealing with Indenture Trustee Clause in Contracts

Protection of Persons Dealing with Indenture Trustee. No Person dealing with the Indenture Trustee or its agents will be obliged to inquire as to whether any of the security hereby constituted has become enforceable, or whether the powers which the Indenture Trustee is purporting to exercise have become exercisable, or whether any money remains due upon such security hereby constituted or the Obligations Secured, or as to the necessity or expediency of the stipulations and conditions subject to which any sale is made, or otherwise as to the propriety or regularity of any sale or of any other dealing by the Indenture Trustee with any of the Collateral, or to see to the application of any money paid to the Indenture Trustee; and in the absence of fraud on the part of the Person, the dealing will be deemed, so far as regards the safety and protection of the Person, to be within the powers hereby conferred and to be valid and effectual accordingly.

Protection of Persons Dealing with Indenture Trustee. No Person dealing with the Indenture Trustee or its agents will be obliged to inquire as to whether any of the security hereby constituted has become enforceableNotes and the Secured Obligations, where applicable, have been declared immediately due and payable, or whether the powers which the Indenture Trustee is purporting to exercise have become exercisable, or whether any money remains due upon such security hereby constituted the Lien Hereof or the Obligations SecuredSecured Obligations, or as to the necessity or expediency of the stipulations and conditions subject to which any sale sale, liquidation or other disposition is made, or otherwise as to the propriety or regularity of any sale sale, liquidation or other disposition or of any other dealing by the Indenture Trustee with any of the Collateral, or to see to the application of any money paid to the Indenture Trustee; and in the absence of fraud wilful misconduct, bad faith or dishonesty on the part of the such Person, the dealing will be deemed, so far as regards the safety and protection of the such Person, to be within the powers hereby conferred and to be valid and effectual accordingly.