Common use of RECEIPT OF ADVICE Clause in Contracts

RECEIPT OF ADVICE. If INVESCO (NY) is in doubt as to any action to be taken or omitted by it, INVESCO (NY) may request, and shall be entitled to rely upon, directions and advice from the Company, including Oral or Written Instructions where appropriate, or from counsel of its own choosing (who may also be counsel for the Company or any Fund), with respect to any question of law. In case of conflict between directions, advice or Oral and Written Instructions received by INVESCO (NY) pursuant to this Section, INVESCO (NY) shall be entitled to rely on and follow the advice received from counsel as described above. INVESCO (NY) shall be protected in any action or in action that it takes in reliance on any directions, advice or Oral or Written Instructions received pursuant to this Section that INVESCO (NY), after the receipt of the same, in good faith believes to be consistent with such directions, advice or Oral or Written Instructions, as the case may be. Notwithstanding the foregoing, nothing in this Section shall be construed as imposing on INVESCO (NY) any obligation to seek such directions, advice or Oral or Written Instruction, or to act in accordance with them when received, unless the same is a condition to INVESCO (NY)'s properly taking or omitting to take such action under the terms of this Agreement.