Common use of Sale of Collateral by Collateral Agent is Binding Clause in Contracts

Sale of Collateral by Collateral Agent is Binding. Any sale or other conveyance of any item of Collateral or any interest therein by the Collateral Agent made pursuant to the terms of this Security Agreement, the Credit Agreement and each applicable Intercreditor Agreement and Other Intercreditor Agreement, shall bind the Secured Parties and the Grantor, and shall be effective to transfer or convey all right, title and interest of the Collateral Agent, the Grantor, and the Secured Parties in and to any such item of Collateral or any interest therein. No purchaser or other grantee shall be required to inquire as to the authorization, necessity, expediency or regularity of such sale or conveyance or as to the application of any sale or other Proceeds with respect thereto by the Collateral Agent.

Sale of Collateral by Collateral Agent is Binding. Any sale or other conveyance of any item of Collateral or any interest therein by the Collateral Agent made pursuant to the terms of this Slot Security Agreement, the Credit Agreement and each applicable Intercreditor Agreement and Other Intercreditor Agreement, shall bind the Secured Parties and the Grantor, and shall be effective to transfer or convey all right, title and interest of the Collateral Agent, the Grantor, and the Secured Parties in and to any such item of Collateral or any interest therein. No purchaser or other grantee shall be required to inquire as to the authorization, necessity, expediency or regularity of such sale or conveyance or as to the application of any sale or other Proceeds with respect thereto by the Collateral Agent.

Sale of Collateral by Collateral Agent is Binding. Any sale or other conveyance of any Airframe, Engine, Spare Engine, Propellers, Spare Propellers or other item of Collateral or any interest therein by the Collateral Agent made pursuant to the terms of this Security Agreement, the Credit Agreement and each applicable Intercreditor Agreement and Other Intercreditor Agreement, Mortgage shall bind the Secured Parties and the GrantorGreat Lakes, and shall be effective to transfer or convey all right, title and interest of the Collateral Agent, the GrantorGreat Lakes, and the other Secured Parties in and to any such item of Collateral or any interest therein. No purchaser or other grantee shall be required to inquire as to the authorization, necessity, expediency or regularity of such sale or conveyance or as to the application of any sale or other Proceeds proceeds with respect thereto by the Collateral Agent.