Common use of Purchaser Protected Clause in Contracts

Purchaser Protected. In no event shall any purchaser in good faith of any Collateral purported to be released from the Lien created hereby be bound to ascertain the authority of the Trustee to execute any such release or to inquire as to the satisfaction of any conditions required by the provisions hereof for the exercise of such authority or to see to the application of any consideration given by such purchaser or other transferee; nor shall any purchaser or other transferee of any Collateral permitted by Section 5.03 hereof to be sold be under any obligation to ascertain or inquire into the authority of the Company to make any such sale or other transfer.

Purchaser Protected. In no event shall any purchaser in good faith of any Collateral purported to be released from the Lien created hereby be bound to ascertain the authority of the Trustee to execute any such the release or to inquire as to the satisfaction of any conditions required by the provisions hereof for the exercise of such authority or to see to the application of any consideration given by such purchaser or other transferee; nor shall any purchaser or other transferee of any Collateral permitted by this Section 5.03 hereof 5 to be sold be under any obligation to ascertain or inquire into the authority of the Company to make any such sale or other transfer.

Purchaser Protected. In no event shall any purchaser in good faith of any Collateral purported to be released from the Lien created hereby hereunder be bound to ascertain the authority of the Trustee to execute any such release the Release or to inquire as to the satisfaction of any conditions required by the provisions hereof for the exercise of such authority or to see to the application of any consideration given by such purchaser or other transferee; nor shall any purchaser or other transferee of any Collateral permitted by Section 5.03 hereof this Article 10 to be sold be under any obligation to ascertain or inquire into the authority of the Company to make any such sale or other transfer.