Liability of Evaluator. The Trustee and the Depositor may rely on any evaluation furnished by the Evaluator and shall have no responsibility for the accuracy thereof. The determinations made by the Evaluator hereunder shall be made in good faith upon the basis of the best information available to it. The Evaluator shall be under no liability to the Trustee, Depositor or Certificateholders for errors in judgment, provided, however, that this provision shall not protect the Evaluator against any liability to which it would otherwise be subject by reason of its willful misconduct, bad faith or gross negligence.
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 Evaluator. The Trustee and the Depositor Depositors may rely on any evaluation furnished by the Evaluator and shall have no responsibility for the accuracy thereof. The determinations made by the Evaluator hereunder shall be made in good faith upon the basis of the best information available to it. The Evaluator shall be under no liability to the Trustee, Depositor Depositors or Certificateholders for errors in judgment, provided, however, that this provision shall not protect the Evaluator against any liability to which it would otherwise be subject by reason of its willful misconduct, bad faith or gross negligence.
Appears in 1 contract
Sources: Trust Indenture and Agreement (Empire State Municipal Exempt Trust Guaranteed Series 134)