Common use of Right to Inquiry Clause in Contracts

Right to Inquiry. (a) If GIS is in doubt as to any action it should or should not take, GIS may request directions or advice, including Oral Instructions or Written Instructions, from RS. (b) In the event of a conflict between Oral Instructions and Written Instructions GIS receives from RS, unless resolved by RS, GIS shall rely upon and follow the Written Instructions for the Covered Portfolio in question. (c) GIS shall be protected in any action it takes or does not take in reliance upon directions, advice or Oral Instructions or Written Instructions it receives from RS and which GIS believes, in good faith, to be consistent with those directions, advice and Oral Instructions or Written Instructions. Nothing in this section shall be construed so as to impose an obligation upon GIS to seek such directions, advice or Oral Instructions or Written Instructions.

Appears in 4 contracts

Sources: Sub Administration and Accounting Services Agreement (RS Variable Products Trust), Sub Administration and Accounting Services Agreement (Rs Investment Trust), Sub Administration and Accounting Services Agreement (Rs Investment Trust)