PURCHASERS OF COLLATERAL. Upon any sale of any of the Collateral by the Administrative Agent hereunder (whether by virtue of the power of sale herein granted, pursuant to judicial process or otherwise), the receipt of the Administrative Agent or the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold, and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Administrative Agent or such officer or be answerable in any way for the misapplication or nonapplication thereof.
Appears in 16 contracts
Samples: Pledge and Security Agreement (Eastern Co), Pledge and Security Agreement (Purple Innovation, Inc.), Pledge and Security Agreement (Lemaitre Vascular Inc)
PURCHASERS OF COLLATERAL. Upon any sale of any of the Collateral by the Administrative Collateral Agent hereunder (whether by virtue of the power of sale herein granted, pursuant to judicial process or otherwise), the receipt of the Administrative Collateral Agent or the officer making the such sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold, and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Administrative Collateral Agent or such officer or be answerable in any way for the misapplication or nonapplication thereof.
Appears in 4 contracts
Samples: Pledge Agreement (CURO Group Holdings Corp.), Term Loan Credit Agreement (Performance Sports Group Ltd.), Abl Credit Agreement (Performance Sports Group Ltd.)
PURCHASERS OF COLLATERAL. Upon any sale of any of the Collateral by the Administrative Collateral Agent hereunder (whether by virtue of the power of sale herein granted, pursuant to judicial process or otherwise), the receipt of the Administrative Collateral Agent or the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold, and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Administrative Collateral Agent or such officer or be answerable in any way for the misapplication or nonapplication thereof.
Appears in 3 contracts
Samples: Pledge and Security Agreement (American Greetings Corp), Pledge Agreement (Memc Electronic Materials Inc), Pledge and Security Agreement (American Greetings Corp)
PURCHASERS OF COLLATERAL. Upon any sale of any of the Collateral by ------------------------ the Administrative Collateral Agent hereunder (whether by virtue of the power of sale herein granted, pursuant to judicial process or otherwise), the receipt of the Administrative Collateral Agent or the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold, and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Administrative Collateral Agent or such officer or be answerable in any way for the misapplication or nonapplication thereof.
Appears in 2 contracts
Samples: Credit Agreement (Wyndham International Inc), Increasing Rate Note Purchase and Loan Agreement (Wyndham International Inc)
PURCHASERS OF COLLATERAL. Upon any sale of any of the Collateral by the Administrative Agent Lender hereunder (whether by virtue of the power of sale herein granted, pursuant to judicial process or otherwise), the receipt of the Administrative Agent Lender or the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold, and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Administrative Agent Lender or such officer or be answerable in any way for the misapplication or nonapplication thereof.
Appears in 2 contracts
Samples: Loan Agreement (Geospace Technologies Corp), Loan Agreement (Oyo Geospace Corp)
PURCHASERS OF COLLATERAL. Upon any sale of any of the Collateral by the Administrative Collateral Agent hereunder (whether by virtue of the power of sale herein granted, pursuant to judicial process or otherwise), the receipt of sale proceeds by the Administrative Collateral Agent or the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold, and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Administrative Collateral Agent or such officer or be answerable in any way for the misapplication or nonapplication thereof.
Appears in 2 contracts
Samples: Security Agreement (Menasco Aerosystems Inc), Security Agreement (Menasco Aerosystems Inc)
PURCHASERS OF COLLATERAL. Upon any sale of any of the Collateral by the Administrative Collateral Agent hereunder (whether by virtue of the power of sale herein granted, pursuant to judicial process or otherwise), the receipt of the Administrative Collateral Agent or the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold, and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Administrative Collateral Agent or such officer or be answerable in any way for the misapplication or nonapplication thereof.
Appears in 1 contract
Samples: Pledge Agreement
PURCHASERS OF COLLATERAL. Upon any sale of any of the Collateral by the Administrative Agent Lender hereunder (whether by virtue of the power of sale herein granted, pursuant to judicial process or otherwise), the receipt of the Administrative Agent Lender or the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold, and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Administrative Agent Lender or such officer or be answerable in any way for the misapplication or nonapplication thereof.
Appears in 1 contract
Samples: Pledge and Security Agreement (Igi Laboratories, Inc)
PURCHASERS OF COLLATERAL. Upon any sale of any of the Collateral by the Administrative Agent hereunder (whether by virtue of the power of sale herein granted, pursuant to judicial process or otherwise), the receipt of the Administrative Agent Lender or the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold, and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Administrative Agent Lender or such officer or be answerable in any way for the misapplication or nonapplication non-application thereof.
Appears in 1 contract
Samples: Limited Recourse Guarantee and Pledge Agreement (Quantum Fuel Systems Technologies Worldwide, Inc.)
