Reliance Upon Experts Sample Clauses
The Reliance Upon Experts clause establishes that a party may depend on the advice, reports, or certifications provided by qualified professionals or specialists when making decisions or fulfilling obligations under the agreement. In practice, this means that if a party consults an engineer, accountant, or other expert for guidance relevant to the contract, their reliance on that expert's input is recognized and protected. This clause serves to allocate risk by clarifying that parties are not expected to independently verify expert opinions, thereby ensuring that decisions based on professional advice are not later challenged for lack of due diligence.
Reliance Upon Experts. The Managing Venturer may employ or retain such counsel, accountants, engineers, geologists, landmen, appraisers or other experts or advisors as it may reasonably deem appropriate for the purpose of discharging its duties hereunder, and shall be entitled to pay the fees of any such persons from the funds of the Joint Venture. The Managing Venturer may act and shall be protected in acting in good faith on the opinion or advice of, or information obtained from any such counsel, accountant, engineer, geologist, appraiser or other expert or advisor, whether retained or employed by the Joint Venture, the Managing Venturer, or otherwise, in relation to any matter connected with the administration or operation of the business and affairs of the Joint Venture.
Reliance Upon Experts. The General Partners may employ or retain such counsel, accountants, engineers, appraisers or other experts or advisors as they deem appropriate for the purpose of discharging their duties hereunder, and shall be entitled to pay the fees of any such persons from the funds of the Partnership. The General Partners may act and shall be protected in acting in good faith on the opinion or advice of, or information obtained from any such counsel, accountant, engineer, appraiser or other expert or advisor, whether retained or employed by the Partnership, the General Partners, or otherwise, in relation to any matter connected with the administration or operation of the business and affairs of the Partnership.
Reliance Upon Experts. Manager may employ or retain such Affiliates, counsel, accountants, engineers, geologists, landmen, appraisers and other experts and advisors as it may reasonably deem appropriate for the purpose of discharging its duties hereunder, and shall be entitled to pay the fees of any such persons from the funds of Owner in its possession or control. Manager may act and shall be protected in acting in good faith on the opinion or advice of, or information obtained from, any such Affiliate, counsel, accountant, engineer, geologist, ▇▇▇▇▇▇▇, appraiser or other expert or advisor, whether retained or employed by Owner, Manager or otherwise, in relation to any matter connected with the administration of the Royalty Interests.