Common use of Shipowner Barred Clause in Contracts

Shipowner Barred. A sale of the Vessel made pursuant hereto ---------------- whether under the power of sale hereby granted or any judicial proceedings, shall operate to divest all right, title and interest of any nature whatsoever of the Shipowner therein and thereto, and shall bar the Shipowner, its successors and assigns, and, subject to the provisions of Article III, Section 2(g) hereof, all Persons claiming by, through or under them. No purchaser shall be bound to inquire whether notice has been given or whether any Indenture Event of Default or event of default hereunder has occurred, or as to the propriety of the sale, or as to application of the proceeds thereof.

Shipowner Barred. A sale of the Vessel made pursuant hereto ---------------- whether under the power of sale hereby granted or any judicial proceedings, shall operate to divest all right, title and interest of any nature whatsoever of the Shipowner therein and thereto, and shall bar the Shipowner, its successors and assigns, and, subject to the provisions of Article III, Section 2(g) hereof, all Persons claiming by, through or under them. No purchaser shall be bound to inquire whether notice has been given or whether any Indenture Event of Default or event of proceeds thereof. default hereunder has occurred, or as to the propriety of the sale, or as to application of the proceeds thereof.