Protection of PFPC Trust. PFPC Trust shall be protected in any action it takes or does not take in reliance upon directions or advice or Oral Instructions or Written Instructions it receives from the Investment Fund or from counsel if taken in accordance with the provision of Section 5(c) hereof, and which PFPC Trust reasonably believes to be consistent with those directions or advice or Oral Instructions or Written Instructions. Nothing in this section shall be construed so as to impose an obligation upon PFPC Trust to seek such Oral Instructions or Written Instructions, unless, under the terms of other provisions of this Agreement, the same is a condition of PFPC Trust's properly taking or not taking such action. Nothing in this Section shall relieve PFPC Trust of any liability arising out of its willful misfeasance, bad faith, negligence or reckless disregard in the performance of its duties hereunder.
Appears in 2 contracts
Sources: Custodian Services Agreement (Multi-Strategy Hedge Opportunities LLC), Custodian Services Agreement (Multi Strategy Hedge Advantage)