Common use of TRUSTEE MAY RELY ON CERTIFICATES Clause in Contracts

TRUSTEE MAY RELY ON CERTIFICATES. The Trustee shall be protected and shall incur no liability in acting or proceeding, or in not acting or not proceeding, in good faith, reasonably and in accordance with the terms of this Agreement, upon any resolution, order, notice, request, consent, waiver, certificate, statement, affidavit, requisition, Bond or other paper or document which it shall in good faith reasonably believe to be genuine and to have been adopted or signed by the proper board or person or to have been prepared and furnished pursuant to and in accordance with the provisions of the Loan Agreement, or upon the written opinion of any attorney, engineer, accountant or other expert believed by it to be qualified in relation to the subject matter, and the Trustee shall not be under any duty to make any investigation or inquiry as to any statement contained or matters referred to in any such instrument.

Appears in 2 contracts

Samples: Trust Agreement (Maxxam Inc), Trust Agreement (Maxxam Inc)

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TRUSTEE MAY RELY ON CERTIFICATES. The Trustee shall be protected and shall incur no liability in acting or proceeding, or in not acting or not proceeding, in good faith, reasonably and in accordance with the terms of this Agreement, upon any resolution, order, notice, request, consent, waiver, certificate, statement, affidavit, requisition, Bond or other paper or document which it shall in good faith reasonably believe to be genuine and to have been adopted or signed by the proper board or person or to have been prepared and furnished pursuant to and in accordance with the provisions of the Loan Agreement, or upon the written opinion of any attorney, engineer, accountant or other expert believed by it to be qualified in relation to the subject matter, and the Trustee shall not be under any duty to make any investigation or inquiry as to any statement contained or matters referred to in any such instrument.and

Appears in 1 contract

Samples: Doral Properties Inc

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TRUSTEE MAY RELY ON CERTIFICATES. The Trustee shall be protected and shall incur no liability in acting or proceeding, or in not acting or not proceeding, in good faith, reasonably and in accordance with the terms of this Agreement, upon any resolution, order, notice, request, consent, waiver, certificate, statement, affidavit, requisition, Bond or other paper or document which it shall in good faith reasonably believe to be genuine and to have been adopted or signed by the proper board or person or to have been prepared and furnished pursuant to and in accordance with the provisions of the Loan Agreement, or upon the written opinion of any attorney, engineer, accountant or other expert believed by it to be qualified in relation to the subject matter, and the Trustee shall not be under any duty to make any 91 98 investigation or inquiry as to any statement contained or matters referred to in any such instrument.

Appears in 1 contract

Samples: Doral Properties Inc

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