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Common use of Taking of Advice Clause in Contracts

Taking of Advice. Each Agent may consult on any matter any auditor, legal, financial or other professional advisers selected by it, who may be employees of or advisers to the Issuer, and it shall not be liable in respect of anything done, or omitted to be done, relating to that matter in good faith in accordance with the opinion of such adviser(s). The Issuer shall on demand by an Agent pay or discharge the costs of any such advice provided that such Agent must first obtain the consent of both the Issuer and the Arranger in respect of (i) the engagement of the relevant professional advisers; and (ii) the cost of the advice sought, such consent not to be unreasonably withheld. For the avoidance of doubt, it shall not be reasonable to withhold any such consent merely because the advice sought may be prejudicial to the interests of the Issuer and/or the Arranger and no consent shall be required from the Issuer and/or the Arranger, as applicable, where such consent is not reasonably practicable to obtain from such party in the circumstances.

Appears in 4 contracts

Samples: Agency Agreement, Agency Agreement, Agency Agreement