Common use of PURCHASERS OF COLLATERAL Clause in Contracts

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 of Secured Parties 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 Secured Parties or such officer or be answerable in any way for the misapplication or nonapplication thereof.

Appears in 1 contract

Samples: Pledge Agreement (JRjr33, Inc.)

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PURCHASERS OF COLLATERAL. Upon any sale of any of Collateral by the Collateral Secured Party hereunder (whether by virtue of the under power of sale herein granted, pursuant to judicial process or otherwise), the receipt of the Secured Parties Party or the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold, 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 Secured Parties Party or Millennium nor shall such officer or be answerable in any way for the misapplication or nonapplication non-application thereof.

Appears in 1 contract

Samples: Security Interest Agreement (Millennium Biotechnologies Group Inc)

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 of Secured Parties Party 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 Secured Parties Party or such officer or be answerable in any way for the misapplication or nonapplication thereof.

Appears in 1 contract

Samples: Pledge Agreement (Staffing 360 Solutions, Inc.)

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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 of the Secured Parties Party 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 Secured Parties Party or such officer or be answerable in any way for the misapplication or nonapplication thereof.

Appears in 1 contract

Samples: Credit Agreement (Covenant Transport Inc)

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