Common use of Protection of Third Parties Clause in Contracts

Protection of Third Parties. No person (including a purchaser) dealing with the Issuer Security Trustee or any Receiver or its or his agents will be concerned to enquire: (a) whether the Issuer Secured Obligations remain outstanding or have become payable; (b) whether any power which the Issuer Security Trustee or that Receiver is purporting to exercise has become exercisable or is being properly exercised; or (c) how any money paid to the Issuer Security Trustee or to that Receiver is to be applied, and the protections afforded to purchasers from a mortgagee by Section 104 and 107 of the 1925 Act and Sections 21 and 22 of the 1881 Act and to persons dealing with an administrative receiver by Section 42(3) of the Insolvency Xxx 0000 will apply.

Protection of Third Parties. No person (including a purchaser) dealing with the Issuer Funding 1 Security Trustee or any Receiver or its or his agents will be concerned to enquire: (a) whether the Issuer Funding 1 Secured Obligations remain outstanding or have become payable; (b) whether any power which the Issuer Funding 1 Security Trustee or that Receiver is purporting to exercise has become exercisable or is being properly exercised; or (c) how any money paid to the Issuer Funding 1 Security Trustee or to that Receiver is to be applied, and the protections afforded to purchasers from a mortgagee by Section Sections 104 and 107 of the 1925 Act and Sections 21 and 22 of the 1881 Act and to persons dealing with an administrative receiver by Section 42(3) of the Insolvency Xxx 0000 will apply.

Protection of Third Parties. No person (including a purchaser) dealing with the Issuer Funding 2 Security Trustee or any Receiver or its or his agents will be concerned to enquire: (a) whether the Issuer Funding 2 Secured Obligations remain outstanding or have become payable; (b) whether any power which the Issuer Funding 2 Security Trustee or that Receiver is purporting to exercise has become exercisable or is being properly exercised; or (c) how any money paid to the Issuer Funding 2 Security Trustee or to that Receiver is to be applied, and the protections afforded to purchasers from a mortgagee by Section 104 and 107 of the 1925 Act and Sections 21 and 22 of the 1881 Act and to persons dealing with an administrative receiver by Section 42(3) of the Insolvency Xxx 0000 will apply.

Protection of Third Parties. No person (including a purchaser) dealing with the Issuer Funding 1 Security Trustee or any Receiver or its or his agents will be concerned to enquire: (a) whether the Issuer Funding 1 Secured Obligations remain outstanding or have become payable; (b) whether any power which the Issuer Funding 1 Security Trustee or that Receiver is purporting to exercise has become exercisable or is being properly exercised; or (c) how any money paid to the Issuer Funding 1 Security Trustee or to that Receiver is to be applied, and the protections afforded to purchasers from a mortgagee by Section Sections 104 and 107 of the 1925 Act and Sections 21 and 22 of the 1881 Act and to persons dealing with an administrative receiver by Section 42(3) of the Insolvency Xxx 0000 Act 1986 will apply.