Reliance by Trustees. (a) The Trustees may consult with legal counsel, auditors or other experts to be selected by them and the advice or opinion of such counsel, auditors, or other experts shall be full and complete personal protection to the Trustees and agents of the Trust in respect of any action taken or suffered by the Trustees in good faith and in the reliance on, or in accordance with, such advice or opinion.
(b) Persons dealing with the Trustees shall look only to the Trust Assets to satisfy any liability incurred by the Trustees to such Person in carrying out the terms of the Trust, and the Trustees shall have no personal or individual obligation to satisfy any such liability.
(c) As far as reasonably practicable, the Trustees shall cause any written instrument creating an obligation of the Trust to include a reference to this Agreement and to provide that neither the Beneficiaries, the Trustees nor their agents shall be liable thereunder, and that the other parties to such instrument shall look solely to the Trust Assets for the payment of any claim thereunder or the performance thereof; provided that the omission of such provision from any such instrument shall not render the Beneficiaries, the Trustees or their agents liable, nor shall the Trustees be liable to anyone for such omission.
Reliance by Trustees. (a) Whenever in the administration of this Trust Agreement, the Guarantees or the Security Documents the Trustees shall deem it necessary or desirable that a factual matter be proved or established in connection with the Trustees taking, suffering or omitting any action hereunder or thereunder, such matter (unless other evidence in respect thereof is herein specifically prescribed) may be deemed in the absence of actual knowledge of a Responsible Trustee Officer to the contrary to be conclusively proved or established by a certificate of a Responsible Officer delivered to the Corporate Trustee, and such certificate shall be full warrant to the Trustees for any action taken, suffered or omitted in reliance thereon, subject, however, to the provisions of subsection 7.5.
(b) The Trustees may consult with counsel, and any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or suffered by them hereunder or under any Guarantee or Security Document in accordance therewith. The Trustees shall have the right at any time to seek instructions concerning the administration of this Trust Agreement, the Guarantees and the Security Documents from any court of competent jurisdiction.
(c) The Trustees may rely, and shall be fully protected in acting, upon any resolution, statement, certificate, instrument, opinion, report, notice, request, consent, order, bond or other paper or document which they in good faith believe to be genuine and to have been signed or presented by the proper party or parties or, in the case of cables, telecopies and telexes, to have been sent by the proper party or parties. In the absence of their gross negligence or willful misconduct, the Trustees may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustees and conforming to the requirements of this Trust Agreement.
(d) The Trustees shall not be under any obligation to exercise any of the rights or powers vested in the Trustees by this Trust Agreement, the Guarantees and the Security Documents, at the request or direction of the Required Secured Parties pursuant to this Trust Agreement or otherwise, unless the Trustees shall have been provided adequate security and indemnity against the costs, expenses and liabilities which may be incurred by them in compliance with such request or direction, including such reasonable advances as may ...
Reliance by Trustees. Except as otherwise provided in Section 4.2 hereof:
(a) each Trustee may rely, and shall be protected in acting upon, any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, or other paper or document believed by him to be genuine and to have been signed or presented by the proper party or parties; and
(b) no Trustee shall have any personal obligation to satisfy any liability of the Plan Trust.
Reliance by Trustees. The Trustees may consult with counsel, auditors or other experts, and the advice or opinion of such counsel, auditors, or other experts shall be full and complete personal protection to the Trustees in respect of any action taken or suffered by them in good faith and in reliance or in accordance with such advice or opinion. In discharging their duties, Trustees may rely upon financial statements of the Trust represented to the Trustees to be correct by the person or persons having charge of the Trust s of account. The Trustees shall and be personally protected in acting, upon any instrument or document of any sort whatsoever reasonably believed by them to be genuine.
Reliance by Trustees. 32 7.5 Limitations on Duties of Trustees; Relationship between Corporate Trustee and Individual Trustee................. 33 7.6 Moneys to be Held in Trust.................................. 34 7.7 Resignation and Removal of the Trustees..................... 34 7.8 Status of Successor Corporate Trustee....................... 36 7.9 Merger of the Corporate Trustee............................. 36 7.10 Co-Trustee; Separate Trustees............................... 36 7.11 Treatment of Payee or Indorsee by Trustees; Representatives of Secured Parties....................................... 38 7.12 Notices to Corporate Trustee under Security Documents....... 38
Reliance by Trustees. Except as otherwise provided in Section 9.1:
(a) the Trustees may rely and shall be protected in acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, or other paper or document be- lieved by them to be genuine and to have been signed or presented by the proper party or parties; and
(b) the Trustees may consult with legal counsel to be selected by them, and the Trustees shall not be liable for any action taken by them in accordance with the advice of such counsel.
(c) persons dealing with the Trustees shall look only to the Trust Estate to satisfy any liabil- ity incurred by the Trustees to such person in carrying out the terms of this trust, and the Trustees shall have no personal individual obligation to satisfy any such liability.
Reliance by Trustees. Table of Contents (continued)
Reliance by Trustees. The Trustees, to the extent permitted by applicable law shall incur no liability in acting upon any instrument, application, notice, request, letter, telegram, or other paper or document believed by them to be genuine and accurate. Any Trustee, to the extent permitted by applicable law, may rely upon any instrument in writing purporting to have been signed or authorized by a majority of the Trustees, or as accurately stating actions taken by the Board of Trustees, when such instrument has been signed by a majority of the Trustees, or it has been executed as authorized by this Trust Agreement or by regulations or procedures established by the Board of Trustees.
Reliance by Trustees. The Trustees shall be fully protected in acting upon any instrument, certificate or paper reasonably believed by them to be genuine and to be signed or presented by the proper person or persons, and shall be under no duty to make further investigation or inquiry as to any statement contained in any such writing and may accept the same as conclusive evidence of the truth and accuracy of the statements therein contained.
Reliance by Trustees. Except as otherwise provided in ARTICLE 9 hereof:
(a) a Trustee may rely, and shall be protected in relying upon, any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order or other paper or document believed by him to be genuine and to have been signed or presented by the proper party or parties; and
(b) persons dealing with the Trustees shall look only to the Liquidating Trust Assets to satisfy any liability incurred by the Trustees to such person in carrying out the terms of this Agreement, and no Trustee shall have any personal obligation to satisfy any such liability.
