PURCHASERS OF COLLATERAL. Upon any sale of any of the Collateral hereunder (whether by virtue of the power of sale herein granted, pursuant to judicial process or otherwise), the receipt by Pledgee 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 Pledgee or such officer or be answerable in any way for the misapplication or nonapplication thereof.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Ecoscience Corp/De), Stock Purchase Agreement (Cogentrix Delaware Holdings Inc)
PURCHASERS OF COLLATERAL. Upon any sale of any of the Collateral by Pledgee hereunder (whether by virtue of the power of sale herein granted, pursuant to judicial process or otherwise), the receipt by of Pledgee 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 Pledgee or such officer or be answerable in any way for the misapplication or nonapplication thereof.
Appears in 2 contracts
Samples: Pledge and Collateral Agreement (Bp PLC), Pledge and Collateral Agreement (Bp PLC)
PURCHASERS OF COLLATERAL. Upon any sale of any of the Collateral by Pledgee hereunder (whether by virtue of the power of sale herein granted, pursuant to judicial process or otherwise), the receipt by of Pledgee 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 Pledgee or such officer or be answerable in any way for the misapplication or nonapplication thereof.
Appears in 1 contract
PURCHASERS OF COLLATERAL. Upon any sale of any of the Collateral by the Pledgee hereunder (whether by virtue of the power of sale herein granted, pursuant to judicial process or otherwise), the receipt by of the Pledgee 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 Pledgee or such officer or be answerable in any way for the misapplication or nonapplication thereof. 5 76 SECTION 9.
Appears in 1 contract
Samples: Short Term Revolving Credit Agreement (Foster Wheeler Corp)
