Trustee Reliance Clause Samples
The Trustee Reliance clause establishes that a trustee is entitled to rely on information, instructions, or documents provided by specified parties, such as beneficiaries or advisors, without being required to independently verify their accuracy. In practice, this means the trustee can act on written directions or certifications received in good faith, streamlining decision-making and administration of the trust. The core function of this clause is to protect trustees from liability when acting on information provided by others, thereby facilitating efficient trust management and reducing the administrative burden on trustees.
Trustee Reliance. The Trustee enters into this Supplemental Indenture in reliance on an Opinion of Counsel, as contemplated by Section 903 of the Indenture, and makes no independent determination that this Supplemental Indenture is authorized or permitted.
Trustee Reliance. Any direction received by the Trustee from the Employer concerning the Trustee's receipt, holding, disposition, investment, or other treatment of the assets of the Trust shall conclusively be deemed to be in accordance with the terms of the Plan, and the Trustee shall be entitled to rely, and shall be held harmless by the Employer in relying, on the propriety of such direction.
Trustee Reliance. Except as otherwise provided by law, the Trustee will be fully protected in making payments out of any Employer's Account at the direction of the Employer's Plan Administrator. The Trustee’s sole obligation as to those disbursements shall be to observe the instructions of the Plan Administrator to the extent that the Account has assets to make disbursements as instructed by the Plan Administrator. Nothing in the Trust or any Plan shall constitute a guarantee that Trust assets will be sufficient to pay the Employer’s OPEB Obligations or Pension Obligations.
Trustee Reliance. The Trustee shall be entitled conclusively to rely on any writing, paper or notice purporting to be signed, sent or given by an authorized officer of the Administrative Agent, unless the Trustee shall have received prior written notice to the contrary.
Trustee Reliance. The Trustee enters into this Third Supplemental Indenture in reliance on an opinion of counsel, as contemplated by Section 9.06 of the Indenture, and makes no independent determination that this Third Supplemental Indenture is authorized or permitted by the Indenture.
Trustee Reliance. Unless the Trustee has actual knowledge of the Company's Insolvency, or has received notice from the Company or a person claiming to be a creditor alleging that the Company is Insolvent, the Trustee shall have no duty to inquire whether the Company is Insolvent. The Trustee may in all events rely on such evidence concerning the Company's solvency as may be furnished to the Trustee and that provides the Trustee with a reasonable basis for making a determination concerning the Company's solvency.
Trustee Reliance. Subject to the next sentence, the Trustee shall be entitled to rely on the written directions of the Majority Holder Designee as binding with respect to those matters expressly stated to require the consent, authorization, satisfaction or any other approval of the Holders of at least a majority of the aggregate principal amount of Notes in this Indenture. In the event that the beneficial owners then holding the right to appoint a Majority Holder Designee pursuant to the Note Purchase Agreement, together with their respective affiliates (including funds, accounts or persons managed, advised, sub-advised by or affiliated with any appointing holder or its affiliates), successors and assigns cease to hold a majority of the outstanding principal amount of Notes (as certified to the Trustee in writing by the Majority Holder Designee, upon which certification the Trustee may conclusively rely without investigation), any matter requiring the consent, authorization, satisfaction or any other approval of the Holders of at least a majority of the aggregate principal amount of Notes under this Indenture shall require the consent of such Holders and the consent of each Majority Holder Designee, if any, acting individually. The obligation of the Trustee to act, or refrain from acting pursuant to any Majority Holder Designee direction shall be subject to the same rights, privileges and immunities as applicable to the obligation to act, or refrain from acting pursuant to the direction of the Holders of at least a majority of the aggregate principal amount of Notes under this Indenture. The Trustee shall have no liability to the Holders or the company or any other Person for any actions taken or refraining from acting as directed by Majority Holder Designee.
Trustee Reliance. In executing any Supplemental Indenture, the Trustee shall receive and will be fully protected in conclusively relying upon an officer’s certificate and an opinion of Counsel stating that the execution of such Supplemental Indenture is authorized and permitted by this Indenture and is the legal, valid and binding obligation of the Issuer enforceable against it in accordance with its terms. The Trustee may, but shall not be obligated to, enter into any such Supplemental Indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise.
Trustee Reliance. The Trustee may rely upon any notice, certificate, affidavit, letter, telegram or other paper or document believed by it to be genuine, or upon any evidence deemed by it to be sufficient, in making any payment or distribution. The Trustee shall not incur any liability for any payment of distribution made in good faith and without actual notice or knowledge of a changed condition or status affecting any Shareholder's interest in the trust; and