Liability of Depositor. The Depositor shall be under no liability to the Unitholders for any action taken or for refraining from the taking of any action in good faith pursuant to this Indenture or for errors in judgment, but shall be liable only for its own negligence, lack of good faith or willful misconduct. The Depositor may rely in good faith on any paper, order, notice, list, affidavit, receipt, opinion, endorsement, assignment, draft or any other document of any kind prima facie properly executed and submitted to it by the Trustee, counsel, or any other persons pursuant to this Indenture and in furtherance of its duties.
Appears in 2 contracts
Sources: Trust Indenture and Agreement (Nuveen Unit Trusts), Standard Terms and Conditions of Trust (Nuveen Unit Trusts Series 1)
Liability of Depositor. The Depositor shall be under no liability to the Unitholders Certificateholders for any action taken or for refraining from the taking of any action in good faith pursuant to this Indenture or for errors in judgment, but shall be liable only for its own gross negligence, lack of good bad faith or willful misconduct. The Depositor may rely in good faith on any paper, order, notice, list, affidavit, receipt, opinion, endorsement, assignment, draft or any other document of any kind prima facie properly executed and submitted to it by the Trustee, the Evaluator, bond counsel, or any other persons person pursuant to this Indenture and in furtherance of its their duties.
Appears in 2 contracts
Sources: Trust Indenture (Empire State Municipal Exempt Trust Guaranteed Series 182), Trust Indenture (Glickenhaus Special Situations Trust Series 1)
Liability of Depositor. The Depositor shall be under no liability to the Unitholders Certificateholders for any action taken or for refraining from the taking of any action in good faith pursuant to this Indenture or for errors in judgment, but shall be liable only for its own gross negligence, lack of good faith or willful misconduct. The Depositor may rely in good faith on upon any paper, order, notice, list, affidavit, receipt, opinion, endorsement, assignment, draft or any other document of any kind prima facie properly executed and submitted to it by the Trustee, counsel, bond counsel or any other persons pursuant to this Indenture and in furtherance of its duties.
Appears in 1 contract
Sources: Trust Indenture and Agreement (Voyageur Unit Investment Trust Series 1)