Protected Purchaser. Effective upon the recordation by the appropriate Successor Entity of the ownership of the respective Tendered Securities by Assignee on the books and records of such Successor Entity, Assignee shall become a protected purchaser of such Tendered Securities, free and clear of any adverse claim (as the terms “protected purchaser” and “adverse claim” are defined in the Uniform Commercial Code in effect on the Closing Date in the State of Texas).
Appears in 2 contracts
Samples: Assignment and Assumption, and Indemnity Agreement (CFunds Life Settlement, LLC), Assignment and Assumption, and Indemnity Agreement (CFunds Life Settlement, LLC)
Protected Purchaser. Effective upon the recordation by the appropriate Successor Entity of the ownership of the respective Tendered Securities by such Assignee on the books and records of such Successor Entity, such Assignee shall become a protected purchaser of such Tendered Securities, free and clear of any adverse claim (as the terms “protected purchaser” and “adverse claim” are defined in the Uniform Commercial Code in effect on the Closing Date in the State of Texas).
Appears in 2 contracts
Samples: Life Settlement Liquidity Option, LLC, Life Settlement Liquidity Option, LLC
Protected Purchaser. Effective upon the recordation by the appropriate Successor Entity of the ownership of the respective Tendered Securities by the Assignee on the books and records of such Successor Entity, Assignee shall become a protected purchaser of such Tendered Securities, free and clear of any adverse claim (as the terms “protected purchaser” and “adverse claim” are defined in the Uniform Commercial Code in effect on the Closing Date in the State of Texas).
Appears in 2 contracts
Samples: Notice and Indemnity Agreement (Life Settlement Liquidity Option, LLC), Notice and Indemnity Agreement (Life Settlement Liquidity Option, LLC)