Common use of Directors' Good Faith Action, Expert Advice, Bond or Surety Clause in Contracts

Directors' Good Faith Action, Expert Advice, Bond or Surety. The exercise by the Directors or the officers of the Company of their powers and discretions hereunder in good faith and with reasonable care under the circumstances then prevailing shall be binding upon everyone interested. Subject to the provisions of Article X, the Directors or the officers of the Company shall not be liable for errors of judgment or mistakes of fact or law. The Directors and the officers of the Company may take advice of counsel or other experts with respect to the meaning and operation of this Agreement, and subject to the provisions of Article X, shall be under no liability for any act or omission in accordance with such advice or for failing to follow such advice. The Directors may require any officers or agent of the Company to execute a bond (including, without limitation, any bond required by the 0000 Xxx) and the rules and regulations of the Securities and Exchange Commission) to the Company in such sum and with such surety or sureties as the Directors may determine.

Directors' Good Faith Action, Expert Advice, Bond or Surety. The exercise by the Directors or the officers of the Company of their powers and discretions hereunder in good faith and with reasonable care under the circumstances then prevailing shall be binding upon everyone interested. Subject to the provisions of Article X, the Directors or the officers of the Company shall not be liable for errors of judgment or mistakes of fact or law. The Directors and the officers of the Company may take advice of counsel or other experts with respect to the meaning and operation of this Agreement, and subject to the provisions of Article X, shall be under no liability for any act or omission in accordance with such advice or for failing to follow such advice. The Directors may require any officers or agent of the Company to execute a bond (including, without limitation, any bond required by the 0000 Xxx) 1940 Act and the rules and regulations of the Securities and Exchange Commission) to the Company in such sum and with such surety or sureties as the Directors may determine.