Purchaser's Rights on Sale. Upon any sale of any Rig or any share therein by the Mortgagee, the purchaser shall not be bound to see or inquire whether the Mortgagee's power of sale has arisen in the manner provided in this Mortgage and the sale shall be deemed to be within the power of the Mortgagee and the receipt of the Mortgagee for the purchase money shall effectively discharge the purchaser who shall not be concerned with the manner of application of the proceeds of sale or be in any way answerable therefor.
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Samples: Revolving Credit Agreement (Pride International Inc), Term Loan Agreement (Pride International Inc)
Purchaser's Rights on Sale. Upon any sale of any Rig Vessel or any share therein by the Mortgagee, the purchaser shall not be bound to see or inquire enquire whether the Mortgagee's Mortgagees power of sale has arisen in the manner provided in this Mortgage and the sale shall be deemed to be within the power of the Mortgagee and the receipt of the Mortgagee for the purchase money shall effectively discharge the purchaser who shall not be concerned with the manner of application of the proceeds of sale or be in any way answerable therefor.
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Purchaser's Rights on Sale. Upon any sale of any Rig the Vessel or any share therein by the Mortgagee, the purchaser shall not be bound to see or inquire enquire whether the Mortgagee's Mortgagees power of sale has arisen in the manner provided in this Mortgage and the sale shall be deemed to be within the power of the Mortgagee and the receipt of the Mortgagee for the purchase money shall effectively discharge the purchaser who shall not be concerned with the manner of application of the proceeds of sale or be in any way answerable therefor.
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