Common use of RECEIPT OF ADVICE Clause in Contracts

RECEIPT OF ADVICE. If XXX is in doubt as to any action to be taken or omitted by it, XXX may request, and shall be entitled to rely upon, directions and advice from the Trust, including Oral or Written Instructions where appropriate, or from counsel of its own choosing (who may also be counsel for the Trust or any Series), with respect to any question of law. In case of conflict between directions, advice or Oral and Written Instructions received by XXX pursuant to this Section, XXX shall be entitled to rely on and follow the advice received from counsel, as described above. XXX shall be protected in taking or omitting to any action in reliance on any directions, advice or Oral or Written Instructions received pursuant to this Section that XXX 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 XXX any obligation to seek such directions, advice or Oral or Written Instructions, or to act in accordance with them when received, unless the same is a condition to SAM's properly taking or omitting to take such action under the terms of this Agreement.