Common use of PROTECTION OF HERITAGE Clause in Contracts

PROTECTION OF HERITAGE. Heritage shall be protected in any action that it takes or determines not to take in reasonable reliance on any directions, advice or Proper Instructions received pursuant to subsections (a) or (b) of this paragraph. However, nothing in this paragraph shall be construed as imposing upon Heritage any obligation to seek such directions, advice or Proper Instructions, or to act in accordance with such directions, advice or Proper Instructions when received, unless, under the terms of another provision of this Agreement, the same is a condition to Heritage's properly taking or omitting to take such action. Nothing in this subsection shall excuse Heritage when an action or omission on its part constitutes willful misfeasance, willful misconduct, gross negligence or reckless disregard by Heritage of its duties under this Agreement.

PROTECTION OF HERITAGE. Heritage shall be protected in any action that it takes or determines not to take in reasonable reliance on any directions, advice or Proper Instructions received pursuant to subsections (a) or (b) of this paragraph. However, nothing in this paragraph shall be construed as imposing upon Heritage any obligation to seek such directions, advice or Proper Instructions, or to act in accordance with such directions, advice or Proper Instructions when received, unless, under the terms of another provision of this Agreement, the same is a condition to Heritage's ’s properly taking or omitting to take such action. Nothing in this subsection shall excuse Heritage when an action or omission on its part constitutes willful misfeasance, willful misconduct, gross negligence or reckless disregard by Heritage of its duties under this Agreement.