Common use of Reliance by Trustee Clause in Contracts

Reliance by Trustee. The Trustee may rely, and shall be fully protected personally in acting, upon any resolution, statement, certificate, instrument, opinion, report, notice, request, consent, order or other instrument or document that the Trustee has no reasonable belief to be other than genuine and to have been signed or presented other than by the proper party or parties or, in the case of facsimile transmissions, to have been sent other than by the proper party or parties, in each case without obligation to satisfy itself that the same was given in good faith and without responsibility for errors in delivery, transmission or receipt. In the absence of the Trustee’s willful misconduct, gross negligence, willful disregard of the Trustee’s duties or material breach of this Trust Agreement, the Trustee may rely as to the truth of statements and correctness of the facts and opinions expressed therein and shall be fully protected personally in acting thereon. The Trustee may consult with legal counsel and shall be, in the absence of the Trustee’s willful misconduct, gross negligence, willful disregard of the Trustee’s duties or material breach of this Trust Agreement, fully protected in respect of any action taken or suffered by the Trustee in accordance with the opinion of legal counsel (whether or not written). The Trustee may at any time seek instructions from the Bankruptcy Court concerning the acquisition, management or disposition of the Trust Assets.

Reliance by Trustee. The Trustee may rely, and shall be fully protected personally in acting, acting upon any resolution, statement, certificate, instrument, opinion, report, notice, request, consent, order or other instrument or document that the Trustee it has no reasonable belief reason to believe to be other than genuine and to have been signed or presented other than by the a proper party or parties or, in the case of facsimile transmissions, to have been sent other than by the proper party part or parties, in each case without obligation to satisfy itself that the same was given in good faith and without responsibility for errors in delivery, transmission or receipt. In the absence of the Trustee’s its bad faith, willful misconduct, gross negligence, willful disregard of the Trustee’s its duties or material breach of this Trust SAT Agreement, the Trustee may rely as to the truth of statements and correctness of the facts and opinions expressed therein and shall be fully protected personally in acting thereon. The Trustee may consult with legal counsel and shall be, in the absence of the Trustee’s willful misconduct, gross negligence, willful disregard of the Trustee’s duties or material breach of this Trust Agreement, be fully protected in respect response of any action taken or suffered by the Trustee it in accordance with the written opinion of legal counsel (whether or not written)counsel. The Except as otherwise required by the Plan, the Trustee may at any time seek instructions from the Bankruptcy Court concerning any aspect of administration of the acquisition, management Second Amended Shareholders Trust or disposition of the Trust Assets, including but not limited to establishing the Expense Reserve, Disputed Interest Reserve, and making Distributions.

Reliance by Trustee. The Trustee may rely, and shall be fully protected personally in acting, acting upon any resolution, statement, certificate, instrument, opinion, report, notice, request, consent, order or other instrument or document that the Trustee has no reasonable belief to be other than genuine and to have been signed or presented other than by the proper party or parties or, in the case of facsimile transmissions, to have been sent other than by the proper party or parties, in each case without obligation to satisfy itself that the same was given in good faith and without responsibility for errors in delivery, transmission or receipt. In the absence of the Trustee’s 's willful misconduct, gross negligence, willful disregard of the Trustee’s 's duties or material breach of this Trust Agreement, the Trustee may rely as to the truth of statements and correctness of the facts and opinions expressed therein and shall be fully protected personally in acting thereon. The Trustee may consult with legal counsel and shall be, in the absence of the Trustee’s willful misconduct, gross negligence, willful disregard of the Trustee’s duties or material breach of this Trust Agreement, be fully protected in respect of any action taken or suffered by the Trustee in accordance with the opinion of legal counsel (whether or not written). The Trustee may at any time seek instructions from the Bankruptcy Court concerning the acquisition, management or disposition of the Trust Assets.