Third Persons. All persons dealing with the Trustee are released from inquiring into the decisions or authority of the Trustee and from seeing to the application of any moneys, securities or other property paid or delivered to the Trustee.
Third Persons. A third person dealing with Trustee shall not be required to make any inquiry as to whether the Company or the Committee has instructed Trustee, or Trustee is otherwise authorized, to take or omit any action, and shall not be required to follow the application by Trustee of any money or property which may be paid or delivered to Trustee.
Third Persons. During the Term, each Investor shall not, and shall cause each Affiliate and Associate of such Investor not to seek to encourage any third person to vote Common Stock of the Company in opposition to a recommendation of a majority of the Board of Directors of the Company.
Third Persons. For performance by a third person, the promisee has to accept it when the contract is being made. Once the condition of performance by the third party is accepted, promisee cannot deny later. The contract performed in this case will be discharged on the part of the promisor if done by the decided third party, even if the promisor does not ratify the performance explicitly. In Hirachand Punamchand v Temple, a debt was held to be discharged when creditor accepted a smaller sun from debtor’s father in full settlement. Performance of the father (read the third party) in this case discharged the contract. Discharge of a contract by the third party’s performance can take place only when it is done with the intention of doing so.