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[188]

Part of Minutes of the University of Kentucky Board of Trustees

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notice of the aforementioned Successor Trustee Escrow Agent, transfer all investments and funds in the Escrow Account to the Successor Trustee Escrow Agent and thereupon the Trustee Escrow Agent shall be relieved from further liability of the administra- tion of the Escrow Account. 10. The Trustee Escrow Agent may rely, and shall be protected in acting or refraining from acting, upon any instrument furnished to it hereunder and believed by it to be genuine and believed by it to have been signed or presented by the appropriate party or parties (including without limitation, with respect to any corporation, any instrument purporting to have been signed on its behalf by its president, any of its vice-presidents, its treasurer or its secretary). The Trustee Escrow Agent shall not be liable for any action (or any refraining from action) taken by it in good faith and believed by it to be authorized or within the rights or powers conferred upon it in this Agreement. The Trustee Escrow Agent may consult with counsel of its choice and shall be fully protected in acting or refraining to act in good faith and in accordance with the opinion of such counsel. 11. The Trustee Escrow Agent shall not be liable for any act done or step taken or omitted by it, or for any mistake of fact or law, or for anything which it may do or refrain from doing, except for its negligence or its default in the performance of any obligation imposed upon it hereunder. The Trustee Escrow Agent shall be responsible only for amounts or investments actually received by the Trustee Escrow Agent and shall not be responsible in any manner whatsoever for the statements contained herein, or in the Series J Bonds, the Series L Bonds, or in the Series N Bonds, or in any proceedings taken in connection therewith, but the same are made solely by the Board. The Trustee Escrow Agent shall not be liable or responsible for any loss resulting from any investment made pursuant to this Agreement and in full compliance with the provisions hereof. None of the provisions contained in this Agreement shall require the Trustee Escrow Agent to use or advance its own funds or otherwise to incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers hereunder. The Trustee Escrow Agent shall be under no liability for interest on any funds or other property received by it hereunder, except as herein expressly provided. 12. This Agreement is made for the benefit of the Board and the holders and owners from time to time of the Series J Bonds and the Series L Bonds and it shall not be repealed, revoked, altered, or amended, regardless of whether the consent of the parties hereto shall be given, other than for the purpose of subjecting to this Agreement additional funds, securities, or properties. The Trustee Escrow Agent shall be entitled to rely exclusively on an unqualified opinion of nationally recognized attorneys on the subject of municipal bonds with respect to compliance with this Agreement, including the extent, if any, to which any change affects the rights of the holders and owners of the Series J Bonds and the Series L Bonds and/or is in compliance 5