Common use of Rights of Trustee, Paying Agent and Registrar Clause in Contracts

Rights of Trustee, Paying Agent and Registrar. (1) Trustee, Paying Agent or Registrar may rely on any document believed by it to be genuine and to have been signed or presented by the proper person. It need not investigate any fact or matter stated in the document. (2) Before a Trustee, Paying Agent or Registrar acts or refrains from acting, it may require an Officers' Certificate or an opinion of counsel. Neither Trustee, Paying Agent or Registrar shall be liable for any action it takes or omits to take in good faith in reliance on such an Officer's Certificate or opinion. (3) Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent appointed with due care. (4) Neither Trustee, Paying Agent nor Registrar shall be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its rights or powers.

Rights of Trustee, Paying Agent and Registrar. (1) Trustee, Paying Agent or Registrar may rely on any document believed by it to be genuine and to have been signed or presented by the proper person. It need not investigate any fact or matter stated in the document. (2) Before a Trustee, Paying Agent or Registrar acts or refrains from acting, it may require an Officers' ’ Certificate or an opinion of counsel. Neither Trustee, Paying Agent or Registrar shall be liable for any action it takes or omits to take in good faith in reliance on such an Officer's ’s Certificate or opinion. (3) Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent appointed with due care. (4) Neither Trustee, Paying Agent nor Registrar shall be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its rights or powers.