Protection of PFPC Trust. PFPC Trust shall be indemnified by the Fund and without liability for any action PFPC Trust takes or does not take in reliance upon directions or advice or Oral Instructions or Written Instructions PFPC Trust receives from or on behalf of the Fund or from counsel and which PFPC Trust believes, in good faith, to be consistent with those directions or advice or Oral Instructions or Written Instructions; provided however, that such actions or omissions of PFPC Trust do not constitute willful misfeasance, bad faith, gross negligence or reckless disregard its duties under this in this Agreement.. Nothing in this section shall be construed so as to impose an obligation upon PFPC Trust (i) to seek such directions or advice or Oral Instructions or Written Instructions, or (ii) to act in accordance with such directions or advice or Oral Instructions or Written Instructions.
Appears in 3 contracts
Sources: Custodian Services Agreement (Torrey Us Strategy Partners LLC), Custodian Services Agreement (Torrey International Strategy Partners LLC), Custodian Services Agreement (Torrey Multi Strategy Partners LLC)