Reliance by Plan Administrator Sample Clauses
The "Reliance by Plan Administrator" clause establishes that the plan administrator is permitted to depend on information, documents, or representations provided by participants, beneficiaries, or other relevant parties when making decisions or administering the plan. In practice, this means the administrator does not have to independently verify every piece of information submitted, such as beneficiary designations or claims forms, unless there is a reason to suspect inaccuracy. This clause streamlines plan administration by clarifying the administrator's ability to rely on submitted information, thereby reducing administrative burden and potential disputes over the validity of information used in decision-making.
Reliance by Plan Administrator. To the fullest extent permitted by applicable law, the Plan Administrator may rely, and shall be fully protected in acting or refraining from acting if it relies, upon any resolution, statement, certificate, instrument, opinion, report, notice, request, consent, order, or other instrument or document that the Plan Administrator reasonably believes to be genuine and to have been signed or presented by the proper party or parties or, in the case of a-mails or facsimiles, have been sent or the Plan Administrator reasonably believes have been sent by the proper party or parties, and the Plan Administrator may conclusively rely as to the truth of the statements and correctness of the opinions expressed therein. To the fullest extent permitted by applicable law, the Plan Administrator may consult with counsel and other professionals with respect to matters in their area of expertise, and any opinion of counsel shall be full and complete authorization and protection in respect of any action taken or not taken by the Plan Administrator. To the fullest extent permitted by applicable law, the Plan Administrator shall be entitled to rely upon the advice of such professionals in acting or failing to act, and shall not be liable for any act taken or not taken in reliance thereon, except as set forth above in Section 4.6. To the fullest extent permitted by applicable law, the Plan Administrator shall have the right at any time to seek and rely upon instructions from the Bankruptcy Court concerning this Agreement, the Plan, or any other document executed in connection therewith, and the Plan Administrator shall be entitled to rely upon such instructions in acting or failing to act and shall not be liable for any act taken or not taken in reliance thereon.
Reliance by Plan Administrator. Except as otherwise provided in this Agreement, the Plan or the Confirmation Order:
(a) the Plan Administrator may rely and shall be protected in acting upon any resolution, statement, instrument, opinion, report, notice, request, consent, order or other paper or document reasonably believed by the Plan Administrator to be genuine and to have been signed or presented by the proper party or parties; and
(b) persons (including any professionals retained by the Plan Administrator in accordance with this Agreement) engaged in transactions with the Plan Administrator shall look only to the Trust Proceeds to satisfy any liability incurred by the Plan Administrator to such person in carrying out the terms of this Agreement, the Plan or the Confirmation Order, and the Plan Administrator shall have no personal or individual obligation to satisfy any such liability.
Reliance by Plan Administrator. The Plan Administrator may rely, and shall be fully protected in acting or refraining from acting if he relies, upon any resolution, statement, certificate, instrument, opinion, report, notice, request, consent, order, or other instrument or document that he reasonably believes to be genuine and to have been signed or presented by the proper party or parties or to have been sent by the proper party or parties, and the Plan Administrator may conclusively rely as to the truth of the statements and correctness of the opinions expressed therein and shall be fully protected personally in acting thereon. The Plan Administrator may consult with and retain counsel and other professionals with respect to matters in their area of knowledge and/or experience. Any opinion of counsel shall be full and complete authorization and protection in respect of any action taken or not taken by the Plan Administrator. Further, the Plan Administrator shall be entitled to rely upon the advice of professionals in acting or failing to act and shall not be liable for any act taken or not taken in reliance thereon; provided, however, that this limitation of liability shall not release or absolve any professional for willful misconduct, fraud or gross negligence that may give rise to a claim against the Plan Administrator. The Plan Administrator shall have the right at any time to seek and rely upon instructions from the Bankruptcy Court concerning this Agreement, the Plan, or any other document executed in connection therewith, and the Plan Administrator shall be entitled to rely upon such instructions in acting or failing to act and shall not be liable for any act taken or not taken in reliance thereon.
Reliance by Plan Administrator. Except as otherwise provided in Sections 4.5 or 4.6 hereof:
(a) the Plan Administrator may rely, and shall be protected in acting upon, any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, or other paper or document believed by the Plan Administrator to be genuine and to have been signed or presented by the proper party or parties;
(b) the Plan Administrator may consult with any and all professionals to be selected by the Plan Administrator, and shall not be liable for any action taken or omitted to be taken by the Plan Administrator in accordance with the advice of such professionals; and
(c) Persons dealing with the Plan Administrator shall look only to the Cash or other property in the accounts, subaccounts, reserves, or escrows established hereunder to satisfy any liability incurred by the Plan Administrator to such Person in carrying out the terms of this Administration Agreement, and the Plan Administrator shall have no personal obligation to satisfy any such liability.
Reliance by Plan Administrator. The Plan Administrator may conclusively rely, and shall be fully protected personally in acting upon, any statement, instrument, opinion, report, notice, request, consent, order or other instrument or document which he believes to be genuine and to have been signed or presented by the proper party or parties. The Plan Administrator may also conclusively rely on information provided to him by agents and employees of the Distribution Company or the Reorganized Debtors as applicable. The Plan Administrator may consult with legal counsel and shall be fully protected from any liability except as set forth in Section 4.4 above in respect of any action taken or suffered by him in accordance with the opinion of legal counsel. The Plan Administrator shall have the right at any time to seek instructions from the Bankruptcy Court concerning the acquisition, management or disposition of the assets of the Reorganized Debtors or the Distribution Company.