Common use of Right to Receive Advice Clause in Contracts

Right to Receive Advice. a. If First Union 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 First Union 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 First Union, at the option of First Union). If First Union receives conflicting advice from the Fund and from counsel of its choosing, First Union 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.