Change of Custodian. If the custodian changes its name, reorganizes, merges with another organization (or comes under the control of any federal or state agency), or if the custodian (or any portion of the organization which includes this XXX) is bought by another organization, that organization (or agency) shall automatically become the trustee or custodian of this
Change of Custodian. To reflect the change in the custodian, the Deposit Agreement is hereby amended as of the Effective Date by:
(a) deleting the definition of "Custodian" contained in Article I of the Deposit Agreement in its entirety and inserting the following in its stead:
Change of Custodian. No change in Custodian may occur without the express written consent of the Pledgee and the Pledgor. The Custodian may resign by giving thirty (30) days' notice to the parties to this Agreement. The Pledgee may then appoint a successor Custodian with the prior written consent of the Pledgor, which shall not be unreasonably withheld or delayed, whereupon the successor Custodian shall succeed to the rights, powers and duties of the Custodian.
Change of Custodian. In the event the Custodian notifies the Company and the Representative that its acceptance of the duties of Custodian has been terminated by the Custodian, or in the event the Custodian files for protection under the United States Bankruptcy Code or is liquidated or ceases operations for any reason, the Company and the Representative shall have the right to jointly designate a replacement Custodian who shall succeed to the rights and duties of the Custodian hereunder. Any such replacement Custodian shall be a trust or stock transfer company experienced in stock transfer, escrow and related matters and shall have a minimum net worth of $5 million. Upon appointment of such successor Custodian, the Custodian shall be discharged from all duties and responsibilities hereunder.
Change of Custodian. Where the Applicant requests to change the Custodian, the Bank shall act reasonably in negotiating any Security Documents to replace the Pledge and Security Agreement and the Control Agreement, provided that such replacement documents shall (to the extent acceptable to the new custodian) be on substantially the same terms as the Pledge and Security Agreement and the Control Agreement and provided that all costs properly incurred in relation to such change of Custodian shall be borne by the Applicant.
Change of Custodian. (a) The Custodian may only be changed to another bank or financial institution with the prior written consent of the Security Agent (acting on the instructions of all Lenders) and must be changed if the Security Agent (acting on the instructions of all Lenders) so requires.
Change of Custodian. In the event of any change of Custodian, the Corporation will notify each Participant for whom stock certificates have been issued of the name of the new Custodian.
Change of Custodian. In the event the Custodian notifies the Company and the Representative that its acceptance of the duties of Custodian has been terminated by the Custodian, or in the event the Custodian files for protection under the United States Bankruptcy Code or is liquidated or ceases operations for any reason, the Company and the Representative shall have the right to jointly designate a replacement Custodian who shall succeed to the rights and duties of the Custodian hereunder. Any such replacement Custodian shall be a trust or stock transfer company experienced in stock transfer, escrow and related
Change of Custodian. If:
(a) another person replaces the Owner as the custodian of the assets of the Trust; or
(b) another person becomes the custodian of the Trust jointly with the Owner, (New Custodian), the Trustee must procure that the Owner and the New Custodian enter into an agreement with the Council under which the New Custodian agrees to be bound by the Owner's obligations under this Agreement.
Change of Custodian. The custodian may resign as custodian and substitute a successor custodian, and it will do so if it receives notice from the IRS that such substitution is required to protect the tax status of this HSA. If the custodian resigns, the account owner can appoint a qualified successor custodian or trustee to whom the HSA assets will be transferred or request a distribution. Any resulting fees will be deducted from the transfer or distribution. If the account owner fails to provide direction to the resigning custodian within 30 days, the custodian may transfer the assets to the successor custodian. A successor custodian will have all of the same duties and rights granted to the original custodian under this agreement. A successor custodian will not be liable for any act or omission of a predecessor custodian.
