Common use of Action on Instruction Clause in Contracts

Action on Instruction. (a) The Owner Trustee will not be required to take any action under any 2014-B Basic Document if the Owner Trustee reasonably determines, or is advised by counsel, that the action is likely to result in liability on the part of the Owner Trustee, is contrary to any 2014-B Basic Document or is contrary to law.

Action on Instruction. (a) The Owner Trustee will not be required to take any action under any 20142015-B Basic Document if the Owner Trustee reasonably determines, or is advised by counsel, that the action is likely to result in liability on the part of the Owner Trustee, is contrary to any 20142015-B Basic Document or is contrary to law.

Action on Instruction. (a) The Owner Trustee will not be required to take any action under any 20142015-B A Basic Document if the Owner Trustee reasonably determines, or is advised by counsel, that the action is likely to result in liability on the part of the Owner Trustee, is contrary to any 20142015-B A Basic Document or is contrary to law.

Action on Instruction. (a) The Owner Trustee will not be required to take any action under any 2014-B 20__-_ Basic Document if the Owner Trustee reasonably determines, or is advised by counsel, that the action is likely to result in liability on the part of the Owner Trustee, is contrary to any 2014-B 20__-_ Basic Document or is contrary to law.