Common use of Purchaser May Rely Clause in Contracts

Purchaser May Rely. A purchaser in good faith of the Collateral or any part thereof or interest therein which is purported to be transferred, granted or released by the Trustee as provided in this Article XI (i) shall not be obligated to ascertain the validity of the transfer, grant or release, and may rely on the authority of the Trustee to execute the document evidencing such transfer, grant or release, (ii) shall not be obligated to inquire as to the satisfaction of any conditions precedent to the exercise of such authority, and (iii) shall not be obligated to determine whether the application of the purchase price therefor complies with the terms hereof.

Purchaser May Rely. A purchaser in good faith of the Collateral or any part thereof or interest therein which is purported to be transferred, granted or released by the Trustee as provided in this Article XI XII (i) shall not be obligated to ascertain the validity of the transfer, grant or release, and may rely on the authority of the Trustee to execute the document evidencing such transfer, grant or release, (ii) shall not be obligated to inquire as to the satisfaction of any conditions precedent to the exercise of such authority, and (iii) shall not be obligated to determine whether the application of the purchase price therefor complies with the terms hereof.

Purchaser May Rely. A purchaser in good faith of the Collateral or any part thereof or interest therein which is purported to be transferred, granted or released by the Trustee as provided in this Article XI (i) shall not be obligated to ascertain the validity of the transfer, grant or release, and may rely on the authority of the Trustee to execute the document evidencing such transfer, grant or release, (ii) shall not be obligated to inquire as to the -82- 90 satisfaction of any conditions precedent to the exercise of such authority, and (iii) shall not be obligated to determine whether the application of the purchase price therefor complies with the terms hereof.