PURCHASERS OF COLLATERAL. Upon any sale of the Collateral by the Lender hereunder (whether by virtue of the power of sale herein granted, pursuant to judicial process or otherwise), the receipt of the 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 Lender or such officer or be answerable in any way for the misapplication or nonapplication thereof.
Appears in 2 contracts
Samples: Pledge Agreement (Sagent Technology Inc), Pledge Agreement (Group 1 Software Inc)
PURCHASERS OF COLLATERAL. Upon any sale of any of the Collateral by the Lender hereunder (whether by virtue of the power of sale herein granted, pursuant to judicial process or otherwise), the receipt of the 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 Lender or such officer or be answerable in any way for the misapplication or nonapplication thereof.
Appears in 1 contract
Samples: Loan Agreement (Immucor Inc)
PURCHASERS OF COLLATERAL. Upon any sale of any of the Collateral by the Lender hereunder (whether by virtue of the power of sale herein granted, granted pursuant to judicial process or otherwise), the receipt of the Lender CITIBANK 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 Lender CITIBANK or such officer or be answerable in any way for the misapplication or nonapplication non-application thereof.
Appears in 1 contract
Samples: Stock Pledge and Security Agreement (Sci Systems Inc)
