Common use of No Obligation to Enquire Clause in Contracts

No Obligation to Enquire. No purchaser from, or other person dealing with, the Chargee or any Receiver (or their agents) shall be obliged or concerned to enquire: (a) whether the right of the Chargee or any Receiver to exercise any of the powers conferred by this Deed has arisen or become exercisable or as to the propriety or validity of the exercise or purported exercise of any such power; (b) whether any of the Secured Obligations remain outstanding and/or are due and payable or be concerned with notice to the contrary and the title and position of such a purchaser or other person shall not be impeachable by reference to any of those matters; (c) the manner or the order by which any amount received or recovered by the Chargee or any Receiver is to be applied; or (d) whether the Collateral Securities have been released from any competing Security in favour of the Chargor.

Appears in 1 contract

Sources: Security Deed (Glencore International Ag)

No Obligation to Enquire. No purchaser from, or other person dealing with, the Chargee or any Receiver (or their agents) shall be obliged or concerned to enquireenquire whether: (a) whether the right of the Chargee or any Receiver to exercise any of the powers conferred by this Deed has arisen or become exercisable or as to the propriety or validity of the exercise or purported exercise of any such power;; or (b) whether any of the Secured Obligations remain outstanding and/or are due and payable or be concerned with notice to the contrary and the title and position of such a purchaser or other person shall not be impeachable by reference to any of those matters; (c) the manner or the order by which any amount received or recovered by the Chargee or any Receiver is to be applied; or (d) whether the Collateral Securities have been released from any competing Security in favour of the Chargor.

Appears in 1 contract

Sources: Security Agreement (Fosun International LTD)