Common use of Advice of Experts Clause in Contracts

Advice of Experts. No Covered Person and no Person serving as liquidator shall be liable to the Partnership or any Partner with respect to any action or omission taken or suffered by any of them in good faith if such action or omission is taken or suffered in reliance upon and in accordance with the opinion or advice as to matters of law of legal counsel, or as to matters of accounting of accountants, or as to matters of valuation of investment bankers or appraisers, provided that any such professional or firm is selected by any such Person with reasonable care.

Advice of Experts. No Covered Person and no Person serving as liquidator shall be liable to the Partnership Company or any Partner Member with respect to any action or omission taken or suffered by any of them in good faith if such action or omission is taken or suffered in reliance upon and in accordance with the opinion or advice of legal counsel as to matters of law law, the opinion or advice of legal counsel, or accountants as to matters of accounting of accountantsaccounting, or the opinion or advice of investment bankers, accounting firms or appraisers as to matters of valuation of investment bankers or appraisersvaluation, provided that any such professional or firm is selected by any such Person with reasonable care.