Common use of Liability of Trustee with respect to Evaluations Clause in Contracts

Liability of Trustee with respect to Evaluations. The ------------------------------------------------ Depositors and the Unitholders may rely on any evaluation furnished by the Trustee and shall have no responsibility for the accuracy thereof. The determinations made by the Trustee hereunder shall be made in good faith upon the basis of, and shall have no liability for errors in, the information reasonably available to it. The Trustee shall be under no liability to the Depositors or the Unitholders for errors in information obtained from any pricing service or similar source of information used to obtain closing sale prices which is selected by the Trustee with reasonable care. With respect to any evaluation made hereunder, the Trustee shall not be liable for errors in judgment or any action taken in good faith, provided, however, that this provision shall not protect the Trustee against any liability to which it would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence in the performance of its duties or by reason of its reckless disregard of its obligations and duties hereunder.

Appears in 3 contracts

Samples: Trust Indenture and Agreement (Schwab Trusts Schwab Ten Trust 2000 Series B), Trust Indenture and Agreement (Schwab Trusts Schwab Ten Trusts 2001 Series B), Trust Indenture and Agreement (Schwab Trusts Schwab Ten Trust 2003 Sereis B)

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Liability of Trustee with respect to Evaluations. The ------------------------------------------------ Depositors and the Unitholders may rely on any evaluation furnished by the Trustee and shall have no responsibility for the accuracy thereof. The determinations made by the Trustee hereunder shall be made in good faith upon the basis of, and shall have no liability for errors in, the information reasonably available to it. The Trustee shall be under no liability to the Depositors or the Unitholders for errors in information obtained from any pricing service or similar source of information used to obtain closing sale prices which is selected by the Trustee with reasonable care. With respect to any evaluation made hereunder, the Trustee shall not be liable or for errors in judgment or any action taken in good faith, provided, however, that this provision shall not protect the Trustee against any liability to which it would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence in the performance of its duties or by reason of its reckless disregard of its obligations and duties hereunder.

Appears in 1 contract

Samples: Trust Indenture and Agreement (Pinnacle Family of Trusts Internet Trust Series I)

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Liability of Trustee with respect to Evaluations. The ------------------------------------------------ Depositors Depositor and the Unitholders may rely on any evaluation furnished by the Trustee and shall have no responsibility for the accuracy thereof. The determinations made by the Trustee hereunder shall be made in good faith upon the basis of, and shall have no liability for errors in, the information reasonably available to it. The Trustee shall be under no liability to the Depositors Depositor or the Unitholders for errors in information obtained from any pricing service or similar source of information used to obtain closing sale prices which is selected by the Trustee with reasonable care. With respect to any evaluation made hereunder, the Trustee shall not be liable for errors in judgment or any action taken in good faith, provided, however, that this provision shall not protect the Trustee against any liability to which it would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence in the performance of its duties or by reason of its reckless disregard of its obligations and duties hereunder.

Appears in 1 contract

Samples: Trust Indenture and Agreement (Equity Securities Trust Series 26 Equits Ii)

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