Common use of Protection of Purchaser Clause in Contracts

Protection of Purchaser. No purchaser or other person dealing with the Collateral Agent or any Receiver or with its or his attorneys shall be concerned to enquire (a) whether any power exercised or purported to be exercised by it, him or them has become exercisable, (b) whether any money remains due on the security hereby created, (c) as to the propriety and regularity of any of its, his or their actions or (d) as to the application of any money paid to him, it or them. In the absence of mala fides on the part of such purchaser or other person, such dealings shall be deemed so far as regards the safety and protection of such purchaser or other person to be within the powers hereby conferred and to be valid accordingly.

Protection of Purchaser. No purchaser or other person dealing with the Collateral Agent Secured Party or any Receiver or with its or his attorneys shall be concerned to enquire (ai) whether any power exercised or purported to be exercised by it, him or them has become exercisable, (bii) whether any money remains due on the security hereby created, (ciii) as to the propriety and regularity of any of its, his or their actions or (div) as to the application of any money paid to him, it or them. In the absence of mala fides on the part of such purchaser or other person, such dealings shall be deemed so far as regards the safety and protection of such purchaser or other person to be within the powers hereby conferred and to be valid accordingly.