Common use of Acting on Instructions; Unclear Instructions Clause in Contracts

Acting on Instructions; Unclear Instructions. (a) Each of the Trust and the Sponsor hereby authorizes the Administrative Agent to accept, rely upon and act upon any Instructions received by it without inquiry. The Trust shall indemnify the Administrative Agent Indemnitees against, and hold each of them harmless from, any Damages that may be imposed on, incurred by, or asserted against the Administrative Agent Indemnitees as a result of any action taken or omitted to be taken in accordance with any Instruction unless the Damages result from an act of negligence, fraud or willful misconduct on the part of the Administrative Agent Indemnitees with respect to the manner in which such Instructions are followed. (b) The Administrative Agent shall promptly notify an Authorized Person if an Instruction does not contain all information reasonably necessary for the Administrative Agent to carry out the Instruction. The Administrative Agent may decline to act upon an Instruction if it does not receive clarification or confirmation satisfactory to it. The Administrative Agent will not be liable for any loss arising from any reasonable delay in carrying out any such Instruction while it seeks such missing information, clarification or confirmation or in declining to act upon any Instruction for which it does not receive clarification satisfactory to it.

Acting on Instructions; Unclear Instructions. (a) Each of the The Trust and the Sponsor hereby authorizes the Administrative Agent __________ to accept, rely upon and and/or act upon any Instructions received by it without inquiry. The Trust shall will indemnify the Administrative Agent Indemnitees the__________Indemnitees against, and hold each of them harmless from, any Damages Liabilities that may be imposed on, incurred by, or asserted against the Administrative Agent __________Indemnitees as a result of any action taken or omitted to be omission taken in accordance with any Instruction unless the Damages Liabilities result from an act of negligence, fraud or willful misconduct on the part of the Administrative Agent Indemnitees the__________Indemnitees with respect to the manner in which such Instructions are followed. (b) The Administrative Agent shall promptly notify an Authorized Person or Shareholder, as applicable, if an Instruction does not contain all information reasonably necessary for the Administrative Agent __________ to carry out the Instruction. The Administrative Agent __________ may decline to act upon an Instruction if it does not receive clarification or confirmation satisfactory to it. The Administrative Agent __________ will not be liable for any loss arising from any reasonable delay in carrying out any such Instruction while it seeks such missing information, clarification or confirmation or in declining to act upon any Instruction for which it does not receive clarification satisfactory to it.