Template:ISDA English Law Credit Support Deed 2018 8(a)(iv): Difference between revisions
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Amwelladmin (talk | contribs) Created page with ":(iv) '''{{imcsdprov|Protection of Purchaser}}'''. <br> ::(A) No purchaser or other person dealing with the {{imcsdprov|Secured Party}} or a {{imcsdprov|Receiver}} or with its..." |
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:(iv) '''{{imcsdprov|Protection of Purchaser}}'''. <br> | :(iv) '''{{imcsdprov|Protection of Purchaser}}'''. <br> | ||
::(A) No purchaser or other person dealing with the {{imcsdprov|Secured Party}} or a {{imcsdprov|Receiver}} or with its attorney or agent shall be concerned to enquire (1) whether any power exercised or purported to be exercised by the {{imcsdprov|Secured Party}} has become exercisable, (2) whether any Obligation remains due, (3) as to the propriety or regularity of any of the actions of the {{imcsdprov|Secured Party}} or (4) as to the application of any money paid to the {{imcsdprov|Secured Party}}. <br> | ::(A) No purchaser or other person dealing with the {{imcsdprov|Secured Party}} or a {{imcsdprov|Receiver}} or with its attorney or agent shall be concerned to enquire (1) whether any power exercised or purported to be exercised by the {{imcsdprov|Secured Party}} has become exercisable, (2) whether any {{isdaprov|Obligation}} remains due, (3) as to the propriety or regularity of any of the actions of the {{imcsdprov|Secured Party}} or (4) as to the application of any money paid to the {{imcsdprov|Secured Party}}. <br> | ||
::(B) In the absence of bad faith on the part of such purchaser or other person, such dealings shall be deemed, so far as regards the safety and protection of such purchaser or other person, to be within the powers conferred by this Deed and to be valid accordingly. The remedy of the {{imcsdprov|Chargor}} in respect of any impropriety or irregularity whatever in the exercise of such powers shall be in damages only. <br> | ::(B) In the absence of bad faith on the part of such purchaser or other person, such dealings shall be deemed, so far as regards the safety and protection of such purchaser or other person, to be within the powers conferred by this {{imcsdprov|Deed}} and to be valid accordingly. The remedy of the {{imcsdprov|Chargor}} in respect of any impropriety or irregularity whatever in the exercise of such powers shall be in [[damages]] only. <br> | ||
Latest revision as of 10:05, 22 April 2021
- (iv) Protection of Purchaser.
- (A) No purchaser or other person dealing with the Secured Party or a Receiver or with its attorney or agent shall be concerned to enquire (1) whether any power exercised or purported to be exercised by the Secured Party has become exercisable, (2) whether any Obligation remains due, (3) as to the propriety or regularity of any of the actions of the Secured Party or (4) as to the application of any money paid to the Secured Party.
- (B) In the absence of bad faith on the part of such purchaser or other person, such dealings shall be deemed, so far as regards the safety and protection of such purchaser or other person, to be within the powers conferred by this Deed and to be valid accordingly. The remedy of the Chargor in respect of any impropriety or irregularity whatever in the exercise of such powers shall be in damages only.
- (A) No purchaser or other person dealing with the Secured Party or a Receiver or with its attorney or agent shall be concerned to enquire (1) whether any power exercised or purported to be exercised by the Secured Party has become exercisable, (2) whether any Obligation remains due, (3) as to the propriety or regularity of any of the actions of the Secured Party or (4) as to the application of any money paid to the Secured Party.