Right to Receive Advice. a. If Wachovia shall be in doubt as to any action it may take or omit to take, it may request, and shall receive, from the Fund clarification or advice. If Wachovia shall be in doubt as to any question of law involved in any action it may take or omit to take, it may request advice at its own cost from counsel of its own choosing (who may be counsel for the Fund or Wachovia, at the option of Wachovia). If Wachovia receives conflicting advice from the Fund and from counsel of its choosing, provided that Wachovia has so notified the Fund, Wachovia shall be entitled to rely on and follow the advice of its counsel, and shall be fully protected for anything it does or omits to do in good faith in conformity with this advice.
Appears in 9 contracts
Samples: Mutual Fund Custody Agreement (Sei Institutional Managed Trust), Mutual Fund Custody Agreement (Sei Asset Allocation Trust), Mutual Fund Custody Agreement (Sei Liquid Asset Trust)
Right to Receive Advice. a. If Wachovia shall be in doubt as to any action it may take or omit to take, it may request, and shall receive, from the Fund clarification or advice. If Wachovia shall be in doubt as to any question of law involved in any action it may take or omit to take, it may request advice at its own cost from counsel of its own choosing (who may be counsel for the Fund or Wachovia, at the option of Wachovia). If Wachovia receives conflicting advice from the Fund and from counsel of its choosing, provided that Wachovia has so notified the Fund, Wachovia shall be entitled to rely on and follow the advice of its counsel, and shall be fully protected for anything it does or omits to do in good faith in conformity with this advice.
Appears in 6 contracts
Samples: Mutual Fund Custody Agreement (Old Mutual Advisor Funds), Wachovia Bank National Association Fund Custody Agreement (Tortoise North American Energy Corp), Custody Agreement (Old Mutual Advisor Funds)
