Reliance on advisers Clause Samples
The 'Reliance on advisers' clause establishes that parties to an agreement may consult and depend on the advice of professional advisers, such as lawyers or accountants, when making decisions or fulfilling obligations under the contract. This clause typically clarifies that parties are not expected to possess specialized knowledge themselves and may act based on the guidance received from their advisers. Its core function is to allocate responsibility and protect parties from liability when they act in good faith on professional advice, ensuring that they are not penalized for relying on expert counsel.
Reliance on advisers. To the extent necessary, the Subscriber has retained, at its own expense, and relied upon appropriate professional advice regarding the investment, tax and legal merits and consequences of the purchase of the Shares contemplated hereunder and in particular, the Subscriber has been independently advised as to and is aware of the applicable restrictions on the resale of the Shares imposed by securities legislation in the jurisdiction in which it resides and is aware of the risks and other characteristics of such Shares and of the fact that the Subscriber may not be able to sell such Shares except in accordance with applicable securities legislation and regulatory policies and the Subscriber is solely responsible (and the Corporation is not in any way responsible) for compliance with applicable resale restrictions.
Reliance on advisers. The General Partner may consult with legal counsel, accountants, appraisers, management consultants, investment bankers, architects, engineers, environmental consultants and other consultants and advisers selected by it (although it shall not, by virtue of this provision, be considered to be under any obligation to do so), and any act taken or not taken in reliance upon the opinion of any such Person as to matters which the General Partner reasonably believes to be within such Person’s professional or expert competence shall be conclusively presumed to have been done or omitted in good faith and in accordance with such opinion.
Reliance on advisers. The Collateral Account Bank may consult with legal counsel or other professional advisers of its selection (subject to Clause 12 (Costs), at the expense of the Issuer) in the event of any dispute or question as to the meaning or construction of any of the provisions hereof or in connection with the performance of its duties hereunder. The Collateral Account Bank shall incur no liability and shall be fully protected as against the Issuer in acting in accordance with the opinion and advice of such legal counsel or professional advisers.
Reliance on advisers. The Cash Manager may at the cost of the Issuer in accordance with Clause 7 (Costs and Expenses) consult with legal counsel or other professional advisers of its selection in the event of any dispute or question as to the meaning or construction of any of the provisions hereof or in connection with the performance of its duties hereunder provided that the Cash Manager has used all reasonable skill and care in the selection of such counsel or advisers and it shall incur no liability and shall be fully protected as against the Issuer in acting in accordance with the opinion and advice of such legal counsel or professional advisers.
Reliance on advisers. The Issuer Account Bank may consult with legal counsel or other professional advisers of its selection (subject to Clause 11 (Costs), at the expense of the Issuer) in the event of any dispute or question as to the meaning or construction of any of the provisions hereof or in connection with the performance of its duties hereunder. The Issuer Account Bank shall incur no liability and shall be fully protected as against the Issuer in acting in accordance with the opinion and advice of such legal counsel or professional advisers.
Reliance on advisers. The Swap Collateral Account Bank may consult with legal counsel or other professional advisers of its selection (subject to Clause 12 (Costs), at the expense of the Issuer) in the event of any dispute or question as to the meaning or construction of any of the provisions hereof or in connection with the performance of its duties hereunder. The Swap Collateral Account Bank shall incur no liability and shall be fully protected as against the Issuer in acting in accordance with the opinion and advice of such legal counsel or professional advisers.
Reliance on advisers. So long as the Representatives exercise reasonable care in the selection, instruction and supervision of a professional adviser, then subject to Section 7.1 the Representatives shall incur no liability, either collectively or individually, in acting and relying upon the opinions or advice of the professional adviser.
Reliance on advisers. The Sponsor Board Members are not liable, either individually or collectively, for acting and relying upon the opinions or advice of the agent or professional advisor so long as the Sponsor Board exercises reasonable care in the selection, instruction and supervision of an agent or a professional advisor.