Reliance by Others. No party dealing with the Trustees shall be obligated to see to the application of any funds or property of the Trust Fund to the stated Trust or to see that the terms of this Trust Agreement have been complied with or to inquire into the necessity or expediency of any act of the Trustees. Every instrument executed by the Trustees shall be conclusive evidence in favor of every person relying thereon that at the time of the execution of said instrument, the Trust was in full force and effect, that the instrument was executed in accordance with the terms and conditions of this Trust Agreement, and that the Trustees were duly authorized and empowered to execute the instrument.
Appears in 3 contracts
Samples: Agreement and Declaration, Agreement and Declaration, Agreement and Declaration of Trust
Reliance by Others. No party dealing with the Trustees shall be obligated to see the application to the application stated Trust purposes of any funds or property of the Trust Fund to the stated Trust National Elevator Industry Educational Program or to see that the terms of this Trust Agreement have been complied with or to inquire into the necessity or expediency of any act of the Trustees. Every instrument executed by the Trustees shall be conclusive evidence in favor of every person relying thereon that that, at the time of the execution of said instrument, the Trust was in full force and effect, that the instrument was executed in accordance with the terms and conditions of this Trust Agreement, and that the Trustees were duly authorized and empowered to execute the instrument.
Appears in 2 contracts
Samples: Agreement and Declaration, Agreement and Declaration
