Common use of Amendment and Termination Clause in Contracts

Amendment and Termination. a. The Custodian may amend the custodial account (including retroactive amendments) by delivering to the responsible individual written notice of such amendment setting forth the substance and effective date of the amendment. The responsible individual shall be deemed to have consented to any such amendment not objected to in writing by the responsible individual within thirty (30) days of receipt of the notice, provided that no amendment shall cause or permit any part of the assets of the custodial account to be diverted to purposes other than for the exclusive benefit of the designated beneficiary. b. The responsible individual may terminate the custodial account at any time by delivering to the Custodian a written notice of such termination. c. The custodial account shall automatically terminate upon distribution to the designated beneficiary or his or her estate of its entire balance.

Amendment and Termination. a. (a) The Custodian custodian may amend the custodial account Custodial Account (including retroactive amendments) by delivering to the responsible individual written notice of such amendment setting forth the substance and effective date of the amendment. The responsible individual shall be deemed to have consented to any such amendment not objected to in writing by the responsible individual within thirty (30) days of receipt of the notice, provided that no amendment shall cause or permit any part of the assets of the custodial account to be diverted to purposes other than for the exclusive benefit of the designated beneficiary. b. (b) The responsible individual may terminate the custodial account at any time by delivering to the Custodian custodian a written notice of such termination. c. (c) The custodial account shall automatically terminate upon distribution to the designated beneficiary or his or her estate of its entire balance.

Amendment and Termination. a. The Custodian may amend the custodial account (including retroactive amendments) by delivering to deliveringto the responsible individual written notice of such ofsuch amendment setting forth the substance and effective date of the amendment. The responsible individual responsibleindividual shall be deemed to have consented to any such amendment not objected to in writing by the responsible individual within thirty (30) days of receipt of the notice, provided that no amendment shall cause or permit any part of the assets of the custodial account to be diverted to purposes other than for the exclusive benefit of the designated beneficiary. b. The responsible individual may terminate the custodial account at any time by delivering to the Custodian a written notice of such termination. c. The custodial account shall automatically terminate upon distribution to the designated beneficiary or his or her estate of its entire balance.