Common use of Receipt to Purchaser Clause in Contracts

Receipt to Purchaser. Upon any sale made under the power of sale herein granted, the receipt of the Trustee will be sufficient discharge to the purchaser or purchasers at any sale for its purchase money, and such purchaser or purchasers, will not, after paying such purchase money and receiving such receipt of the Trustee, be obligated to see to the application of such purchase money or be responsible for any loss, misapplication or non-application thereof.

Appears in 12 contracts

Samples: Credit Agreement (Berry Petroleum Corp), Credit Agreement (Berry Petroleum Corp), Credit Agreement (Holly Energy Partners Lp)

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Receipt to Purchaser. Upon any sale made under the power of sale herein granted, the receipt of the Trustee will be sufficient discharge to the purchaser or purchasers at any sale for its purchase money, and such purchaser or purchasers, purchasers will not, after paying such purchase money and receiving such receipt of the Trustee, be obligated to see to the application of such purchase money or be responsible for any loss, misapplication or non-application thereof.

Appears in 2 contracts

Samples: Credit Agreement (Isramco Inc), Credit Agreement (Callon Petroleum Co)

Receipt to Purchaser. Upon any sale made under the power of sale herein granted, the receipt of the Trustee will be sufficient discharge to the purchaser or purchasers at any sale for its purchase money, and such purchaser or purchasers, will not, after paying such purchase money and receiving such receipt of the Trustee, be obligated to see to the application of such purchase money or be responsible for any loss, misapplication misapplication, or non-application thereof.

Appears in 1 contract

Samples: Second Lien Security Agreement

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Receipt to Purchaser. Upon any sale made under the power of sale herein grantedgranted and conferred, the receipt of the Trustee will be sufficient discharge to the purchaser or purchasers at any sale for his, its or their purchase money, and such purchaser or purchasers, his, its or their assigns or personal representatives, will not, after paying such purchase money and receiving such receipt of the Trustee, Trustee be obligated obliged to see to the application of such purchase money or be responsible in anywise answerable for any loss, misapplication or non-application thereof.

Appears in 1 contract

Samples: Revolving Credit Agreement (ZaZa Energy Corp)

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