Common use of Custodian’s Rights Clause in Contracts

Custodian’s Rights. (a) We have the right to not process or accept a transaction or investments. For example, if we determine that an investment or transaction poses risk to us, is no longer administratively feasible, is inconsistent with our internal practices and standards, or is beyond the scope of our administrative responsibilities, capabilities or expertise, we have the right to not process the transaction or investment and we have the right to resign from our role as Custodian of the particular asset and/or Xxxx XXX Account. If we choose to resign, we may distribute this asset or the assets in your Xxxx XXX Account to you at its last known value, which could subject you to fees for us having to re-register the asset and process the transaction. We shall have no liability for any tax, financial, or other consequences related to such distribution. (b) The decision to not process or accept an investment should not be interpreted as us endorsing or conducting due diligence on an investment, investment company or investment strategy. Further, the decision to review any documents related to your investment or whether to accept or not accept an investment does not impose any fiduciary duties on us and should not be construed as us making a determination concerning the suitability or legality of the investment. Rather, any review performed by us with respect to an investment shall be solely for our own purposes of determining whether such investment poses administrative burdens on us or whether accepting such investment complies with our internal policies, practices and standards. For our own administrative purposes, we may review investment materials and may or may not maintain copies of such review material. (c) We shall use reasonable efforts to acquire or sell investments in accordance with your directions within a reasonable period of time after we have received an investment direction and we shall make reasonable efforts to notify you if we are unable or unwilling to comply with an investment direction. Subject to the foregoing, we shall remit funds as directed, but have no responsibility to verify or assure that such funds have been invested to purchase or acquire the asset selected by you. (d) If we (1) fail to receive directions from you regarding any transaction; (2) receive ambiguous directions regarding any transaction; (3) believe that any transaction requested is in dispute or is being challenged by a third party, we have the right to take no action and/or freeze your Xxxx XXX Account or place a hold on a transaction until further clarification acceptable to us is received from you or the appropriate government or judicial authority. (e) We have the right to close your Xxxx XXX Account if the Account drops below the minimum balance we establish and/or if your Xxxx XXX Account remains inactive with no assets or new investments for a period of time designated under our internal policies. (f) We may require that your Xxxx XXX Account maintain a minimum balance of cash and assets, and we have the right to distribute the entire balance of your Xxxx XXX Account to you or assess a fee if the balance of your Xxxx XXX Account drops below a minimum balance we establish.

Custodian’s Rights. (a) We have the right to not process or accept a transaction or investmentsinvestment. For example, if we determine that an investment or transaction poses risk to us, is no longer administratively feasible, is inconsistent with our internal practices and standards, or is beyond the scope of our administrative responsibilities, capabilities or expertise, we have the right to not process the transaction or investment and we have the right to resign from our role as Custodian of the particular asset and/or Xxxx XXX IRA Account. If we choose to resign, we may distribute this asset or the assets in your Xxxx XXX IRA Account to you at its last known value, which could subject you to fees for us having to re-re- register the asset and process the transaction. We shall have no liability for any tax, financial, or other consequences related to such distribution. (b) The decision to not process or accept an investment should not be interpreted as us endorsing or conducting due diligence on an investment, investment company or investment strategy. Further, the decision to review any documents related to your investment or whether to accept or not accept an investment does not impose any fiduciary duties on us and should not be construed as us making a determination concerning the suitability or legality of the investment. Rather, any review performed by us with respect to an investment shall be solely for our own purposes of determining whether such investment poses administrative burdens on us or whether accepting such investment complies with our internal policies, practices practices, and standards. For our own administrative purposes, we may review investment materials and may or may not maintain copies of such review material. (c) We shall use reasonable efforts to acquire or sell investments in accordance with your directions within a reasonable period of time after we have received an investment direction and we shall make reasonable efforts to notify you if we are unable or unwilling to comply with an investment direction. Subject to the foregoing, we shall remit funds as directed, but have no responsibility to verify or assure that such funds have been invested to purchase or acquire the asset selected by you. (d) If we (1) fail to receive directions from you regarding any transaction; (2) receive ambiguous directions regarding any transaction; or (3) believe that any transaction requested is in dispute or is being challenged by a third party, we have the right to take no action and/or freeze your Xxxx XXX IRA Account or place a hold on a transaction until further clarification acceptable to us is received from you or the appropriate government or judicial authority. (e) We have the right to close your Xxxx XXX IRA Account if the Account drops below the minimum balance we establish and/or if your Xxxx XXX IRA Account remains inactive with no assets or new investments for a period of time designated under our internal policies. (f) We may require that your Xxxx XXX IRA Account maintain a minimum balance of cash and assets, and we have the right to distribute the entire balance of your Xxxx XXX IRA Account to you or assess a fee if the balance of your Xxxx XXX IRA Account drops below a minimum balance we establish.

Custodian’s Rights. (a) We have the right to not process or accept a transaction or investments. For example, if we determine that an investment or transaction poses risk to us, is no longer administratively feasible, is inconsistent with our internal practices and standards, or is beyond the scope of our administrative responsibilities, capabilities or expertise, we have the right to not process the transaction or investment and we have the right to resign from our role as Custodian of the particular asset and/or Xxxx XXX Account. If we choose to resign, we may distribute this asset or the assets in your Xxxx XXX Account to you at its last known value, which could subject you to fees for us having to re-register the asset and process the transaction. We shall have no liability for any tax, financial, or other consequences related to such distribution. (b) The decision to not process or accept an investment should not be interpreted as us endorsing or conducting due diligence on an investment, investment company or investment strategy. Further, the decision to review any documents related to your investment or whether to accept or not accept an investment does not impose any fiduciary duties on us and should not be construed as us making a determination concerning the suitability or legality of the investment. Rather, any review performed by us with respect to an investment shall be solely for our own purposes of determining whether such investment poses administrative burdens on us or whether accepting such investment complies with our internal policies, practices and standards. For our own administrative purposes, we may review investment materials and may or may not maintain copies of such review material. (c) We shall use reasonable efforts to acquire or sell investments in accordance with your directions within a reasonable period of time after we have received an investment direction and we shall make reasonable efforts to notify you if we are unable or unwilling to comply with an investment direction. Subject to the foregoing, we shall remit funds as directed, but have no responsibility to verify or assure that such funds have been invested to purchase or acquire the asset selected by you. (d) If we (1) fail to receive directions from you regarding any transaction; (2) , or if we receive ambiguous directions regarding any transaction; (3) , or if we, in good faith, believe that any transaction requested is in dispute or is being challenged by a third party, we have the right to take no action and/or freeze your Xxxx XXX Account or place a hold on a transaction until further clarification acceptable to us is received from you or the appropriate government or judicial authority. (e) We have the right to close your Xxxx XXX Account if the Account drops below the minimum balance we establish and/or if your Xxxx XXX Account remains inactive with no assets or new investments for a period of time designated under our internal policies. (f) We may require that your Xxxx XXX Account maintain a minimum balance of cash and assets, and we have the right to distribute the entire balance of your Xxxx XXX Account to you in cash or assess a fee property if the balance of your Xxxx XXX Account drops below a minimum balance we establish. In addition to the value of any assets held in your Account, we may require that your Xxxx XXX Account maintain a minimum cash balance established by us. If your Xxxx XXX Account does not meet the minimum cash balance we establish, a fee may be assessed by us.

Custodian’s Rights. (a) We have the right to not process or accept a transaction or investments. For example, if we determine that an investment or transaction poses risk to us, is no longer administratively feasible, is inconsistent with our internal practices and standards, or is beyond the scope of our administrative responsibilities, capabilities or expertise, we have the right to not process the transaction or investment and we have the right to resign from our role as Custodian of the particular asset and/or Xxxx XXX IRA Account. If we choose to resign, we may distribute this asset or the assets in your Xxxx XXX IRA Account to you at its last known value, which could subject you to fees for us having to re-re- register the asset and process the transaction. We shall have no liability for any tax, financial, or other consequences related to such distribution. (b) The decision to not process or accept an investment should not be interpreted as us endorsing or conducting due diligence on an investment, investment company or investment strategy. Further, the decision to review any documents related to your investment or whether to accept or not accept an investment does not impose any fiduciary duties on us and should not be construed as us making a determination concerning the suitability or legality of the investment. Rather, any review performed by us with respect to an investment shall be solely for our own purposes of determining whether such investment poses administrative burdens on us or whether accepting such investment complies with our internal policies, practices and standards. For our own administrative purposes, we may review investment materials and may or may not maintain copies of such review material. (c) We shall use reasonable efforts to acquire or sell investments in accordance with your directions within a reasonable period of time after we have received an investment direction and we shall make reasonable efforts to notify you if we are unable or unwilling to comply with an investment direction. Subject to the foregoing, we shall remit funds as directed, but have no responsibility to verify or assure that such funds have been invested to purchase or acquire the asset selected by you. (d) If we (1) fail to receive directions from you regarding any transaction; (2) , or if we receive ambiguous directions regarding any transaction; (3) , or if we, in good faith, believe that any transaction requested is in dispute or is being challenged by a third party, we have the right to take no action and/or freeze your Xxxx XXX IRA Account or place a hold on a transaction until further clarification acceptable to us is received from you or the appropriate government or judicial authority. (e) We have the right to close your Xxxx XXX IRA Account if the Account drops below the minimum balance we establish and/or if your Xxxx XXX IRA Account remains inactive with no assets or new investments for a period of time designated under our internal policies. (f) We may require that your Xxxx XXX IRA Account maintain a minimum balance of cash and assets, and we have the right to distribute the entire balance of your Xxxx XXX IRA Account to you in cash or assess a fee property if the balance of your Xxxx XXX IRA Account drops below a minimum balance we establish. In addition to the value of any assets held in your Account, we may require that your IRA Account maintain a minimum cash balance established by us. If your IRA Account does not meet the minimum cash balance we establish, a fee may be assessed by us.

Custodian’s Rights. (a) We have the right to not process or accept a transaction or investments. For example, if we determine that an investment investment, or transaction poses a risk to us, is no longer administratively feasible, is inconsistent with our internal practices and standards, or is beyond the scope of our administrative responsibilities, capabilities or expertise, we have the right to not process the transaction or investment and we have the right to resign from our role as Custodian of the particular asset and/or Xxxx XXX AccountCESA. If we choose to resign, we may distribute this asset or to the assets in your Xxxx XXX Account to you Designated Beneficiary at its last known value, which could subject you the Designated Beneficiary to fees for us having to re-register the asset and process the transaction. We shall have no liability for any tax, financial, or other consequences related to such distribution. (b) The decision to not process or accept an investment should not be interpreted as us endorsing or conducting due diligence on an investment, investment company or investment strategy. Further, the decision to review any documents related to your investment or whether to accept or not accept an investment does not impose any fiduciary duties on us and should not be construed as us making a determination concerning the suitability or legality of the investment. Rather, any review performed by us with respect to an investment shall be solely for our own purposes of determining whether such investment poses administrative burdens on us or whether accepting such investment complies with our internal policies, practices and standards. For our own administrative purposes, we may review investment materials and may or may not maintain copies of such review material. (c) We shall use reasonable efforts to acquire or sell investments in accordance with your directions within a reasonable period of time after we have received an investment direction and we shall make reasonable efforts to notify you if we are unable or unwilling to comply with an investment direction. Subject to the foregoing, we shall remit funds as directed, but have no responsibility to verify or assure that such funds have been invested to purchase or acquire the asset selected by you. (d) If we (1) fail to receive directions from you regarding any transaction; (2) receive ambiguous directions regarding any transaction; (3) believe that any transaction requested is in dispute or is being challenged by a third party, we have the right to take no action and/or and/ or freeze your Xxxx XXX Account or place a hold on a transaction CESA until further clarification acceptable to us is received from you or the appropriate government or judicial authority. (e) We have the right to close your Xxxx XXX Account CESA if the Account drops below the minimum balance we establish and/or if your Xxxx XXX Account CESA remains inactive with no assets or new investments for a period of time designated under our internal policies. (f) We may require that your Xxxx XXX Account CESA maintain a minimum balance of cash and assets, and we have the right to distribute the entire balance of your Xxxx XXX Account CESA to you or assess a fee if the balance of your Xxxx XXX Account CESA drops below a minimum balance we establish.

Custodian’s Rights. (a) We have the right to not process or accept a transaction or investments. For example, if we determine that an investment investment, or transaction poses risk to us, us is no longer administratively feasible, is inconsistent with our internal practices and standards, or is beyond the scope of our administrative responsibilities, capabilities or expertise, we have the right to not process the transaction or investment and we have the right to resign from our role as Custodian of the particular asset and/or Xxxx XXX AccountHSA. If we choose to resign, we may distribute this asset or the assets in your Xxxx XXX HSA Account to you at its last known value, which could subject you to fees for us having to re-register the asset and process the transaction. We shall have no liability for any tax, financial, or other consequences related to such distribution. (b) The decision to not process or accept an investment should not be interpreted as us endorsing or conducting due diligence on an investment, investment company or investment strategy. Further, the decision to review any documents related to your investment or whether to accept or not accept an investment does not impose any fiduciary duties on us and should not be construed as us making a determination concerning the suitability or legality of the investment. Rather, any review performed by us with respect to an investment shall be solely for our own purposes of determining whether such investment poses administrative burdens on us or whether accepting such investment complies with our internal policies, practices and standards. For our own administrative purposes, we may review investment materials and may or may not maintain copies of such review material. (c) We shall use reasonable efforts to acquire or sell investments in accordance with your directions within a reasonable period of time after we have received an investment direction and we shall make reasonable efforts to notify you if we are unable or unwilling to comply with an investment direction. Subject to the foregoing, we shall remit funds as directed, but have no responsibility to verify or assure that such funds have been invested to purchase or acquire the asset selected by you. (d) If we (1) fail to receive directions from you regarding any transaction; (2) receive ambiguous directions regarding any transaction; or (3) believe that any transaction requested is in dispute or is being challenged by a third party, we have the right to take no action and/or freeze your Xxxx XXX Account or place a hold on a transaction HSA until further clarification acceptable to us is received from you or the appropriate government or judicial authority. (e) We have the right to close your Xxxx XXX Account HSA if the Account drops below the minimum balance we establish and/or if your Xxxx XXX Account HSA remains inactive with no assets or new investments for a period of time designated under our internal policies. (f) We may require that your Xxxx XXX Account HSA maintain a minimum balance of cash and assets, and we have the right to distribute the entire balance of your Xxxx XXX Account HSA to you or assess a fee if the balance of your Xxxx XXX Account HSA drops below a minimum balance we establish.

Custodian’s Rights. (a) We have the right to not process or accept a transaction or investments. For example, if we determine that an investment or transaction poses risk to us, is no longer administratively feasible, is inconsistent with our internal practices and standards, or is beyond the scope of our administrative responsibilities, capabilities or expertise, we have the right to not process the transaction or investment and we have the right to resign from our role as Custodian of the particular asset and/or Xxxx XXX Account. If we choose to resign, we may distribute this asset or the assets in your Xxxx XXX Account to you at its last known value, which could subject you to fees for us having to re-register the asset and process the transaction. We shall have no liability for any tax, financial, or other consequences related to such distribution. (b) The decision to not process or accept an investment should not be interpreted as us endorsing or conducting due diligence on an investment, investment company or investment strategy. Further, the decision to review any documents related to your investment or whether to accept or not accept an investment does not impose any fiduciary duties on us and should not be construed as us making a determination concerning the suitability or legality of the investment. Rather, any review performed by us with respect to an investment shall be solely for our own purposes of determining whether such investment poses administrative burdens on us or whether accepting such investment complies with our internal policies, practices and standards. For our own administrative purposes, we may review investment materials and may or may not maintain copies of such review material. (c) We shall use reasonable efforts to acquire or sell investments in accordance with your directions within a reasonable period of time after we have received an investment direction and we shall make reasonable efforts to notify you if we are unable or unwilling to comply with an investment direction. Subject to the foregoing, we shall remit funds as directed, but have no responsibility to verify or assure that such funds have been invested to purchase or acquire the asset selected by you. (d) If we (1) fail to receive directions from you regarding any transaction; (2) , or if we receive ambiguous directions regarding any transaction; (3) , or if we, in good faith, believe that any transaction requested is in dispute or is being challenged by a third party, we have the right to take no action and/or freeze your Xxxx XXX Account or place a hold on a transaction until further clarification acceptable to us is received from you or the appropriate government or judicial authority. (e) We have the right to close your Xxxx XXX Account if the Account drops below the minimum balance we establish and/or if your Xxxx XXX Account remains inactive with no assets or new investments for a period of time designated under our internal policies. (f) We may require that your Xxxx XXX Account maintain a minimum balance of cash and assets, and we have the right to distribute the entire balance of your Xxxx XXX Account to you in cash or assess a fee property if the balance of your Xxxx XXX Account drops below a minimum balance we establish. In addition to the value of any assets held in your Account, we may require that your Account maintain a minimum cash balance established by us. If your Account does not meet the minimum cash balance we establish, a fee may be assessed by us. (g) We may rely on a written directions, and upon the non-written directions described below, giving by the Account Holder or Representative who is acting on its behalf which we believe to be genuine. The Representative (as defined in Section 7) shall be the authorized agent of the Account Holder and not of Equity Trust. We shall construe any and all investment directions given by the Representative, whether written or oral, as having been authorized by the Account Holder. The Account Holder may appoint and/or remove a Representative by written notice to us provided that removal shall not have the effect of cancelling any notice, instruction, direction or approval received by us from the Representative before we receive notice of the removal. (h) Account Holder authorizes usto charge the Account for the cost of all securities purchased or received from the securities sold or delivered against payment. If the Account Holder directs us to place an order for a mutual fund investment and there are insufficient funds in the Account to cover the settlement cost, the Account Holder agrees to deposit in the Account immediately (and in any event not later than the settlement date) sufficient liquid funds to cover the cost of the investment. The Account Holder agrees that we shall be under no obligation whatsoever to extend credit to the Account or otherwise disburse payment beyond the cash balance of the Account for any purchase of a mutual fund investment. In the event Account Holder fails to timely deposit sufficient funds in the Account to cover the cost of any such investment, we may cancel the order for the investment or, if the investment already has been acquired, sell the investment and reimburse itself for any costs or expenses incurred by us in settling the purchase order. Account Holder agrees that we shall not be liable for any actions or inactions taken or omitted to be taken by us in accordance with this provision, and further agrees, without limiting the generality of any other agreement by Account Holder to indemnify us, to indemnify and hold us harmless for its actions in canceling a purchase order for a mutual fund investment in the account or selling the investment to reimburse itself as provided above.

Custodian’s Rights. (a) We have the right to not process or accept a transaction or investments. For example, if we determine that an investment or transaction poses risk to us, is no longer administratively feasible, is inconsistent with our internal practices and standards, or is beyond the scope of our administrative responsibilities, capabilities or expertise, we have the right to not process the transaction or investment and we have the right to resign from our role as Custodian of the particular asset and/or and/ or Xxxx XXX Account. If we choose to resign, we may distribute this asset or the assets in your Xxxx XXX Account to you at its last known value, which could subject you to fees for us having to re-register the asset and process the transaction. We shall have no liability for any tax, financial, or other consequences related to such distribution. (b) The decision to not process or accept an investment should not be interpreted as us endorsing or conducting due diligence on an investment, investment company or investment strategy. Further, the decision to review any documents related to your investment or whether to accept or not accept an investment does not impose any fiduciary duties on us and should not be construed as us making a determination concerning the suitability or legality of the investment. Rather, any review performed by us with respect to an investment shall be solely for our own purposes of determining whether such investment poses administrative burdens on us or whether accepting such investment complies with our internal policies, practices and standards. For our own administrative purposes, we may review investment materials and may or may not maintain copies of such review material. (c) We shall use reasonable efforts to acquire or sell investments in accordance with your directions within a reasonable period of time after we have received an investment direction and we shall make reasonable efforts to notify you if we are unable or unwilling to comply with an investment direction. Subject to the foregoing, we shall remit funds as directed, but have no responsibility to verify or assure that such funds have been invested to purchase or acquire the asset selected by you. (d) If we (1) fail to receive directions from you regarding any transaction; (2) receive ambiguous directions regarding any transaction; (3) believe that any transaction requested is in dispute or is being challenged by a third party, we have the right to take no action and/or freeze your Xxxx XXX Account or place a hold on a transaction until further clarification acceptable to us is received from you or the appropriate government or judicial authority. (e) We have the right to close your Xxxx XXX Account if the Account drops below the minimum balance we establish and/or if your Xxxx XXX Account remains inactive with no assets or new investments for a period of time designated under our internal policies. (f) We may require that your Xxxx XXX Account maintain a minimum balance of cash and assets, and we have the right to distribute the entire balance of your Xxxx XXX Account to you or assess a fee if the balance of your Xxxx XXX Account drops below a minimum balance we establish. (g) We have the right to liquidate assets held in your Xxxx XXX Account and choose which assets to liquidate in order to pay for overdue fees owed to us or as required in order to comply with state escheatment laws. We also have the right to liquidate assets held in your Xxxx XXX Account and credit your Xxxx XXX Account for the market value of such assets if we determine that it is administratively burdensome or not feasible to custody such assets or if there are regulatory or legal risks, as determined by us, associated with the custody or investment of such assets.

Custodian’s Rights. (a) We have the right to not process or accept a transaction or investmentsinvestment. For example, if we determine that an investment or transaction poses risk to us, is no longer administratively feasible, is inconsistent with our internal practices and standards, or is beyond the scope of our administrative responsibilities, capabilities or expertise, we have the right to not process the transaction or investment and we have the right to resign from our role as Custodian of the particular asset and/or Xxxx XXX IRA Account. If we choose to resign, we may distribute this asset or the assets in your Xxxx XXX IRA Account to you at its last known value, which could subject you to fees for us having to re-register the asset and process the transaction. We shall have no liability for any tax, financial, or other consequences related to such distribution. (b) The decision to not process or accept an investment should not be interpreted as us endorsing or conducting due diligence on an investment, investment company or investment strategy. Further, the decision to review any documents related to your investment or whether to accept or not accept an investment does not impose any fiduciary duties on us and should not be construed as us making a determination concerning the suitability or legality of the investment. Rather, any review performed by us with respect to an investment shall be solely for our own purposes of determining whether such investment poses administrative burdens on us or whether accepting such investment complies with our internal policies, practices practices, and standards. For our own administrative purposes, we may review investment materials and may or may not maintain copies of such review material. (c) We shall use reasonable efforts to acquire or sell investments in accordance with your directions within a reasonable period of time after we have received an investment direction and we shall make reasonable efforts to notify you if we are unable or unwilling to comply with an investment direction. Subject to the foregoing, we shall remit funds as directed, but have no responsibility to verify or assure that such funds have been invested to purchase or acquire the asset selected by you. (d) If we (1) fail to receive directions from you regarding any transaction; (2) receive ambiguous directions regarding any transaction; or (3) believe that any transaction requested is in dispute or is being challenged by a third party, we have the right to take no action and/or freeze your Xxxx XXX IRA Account or place a hold on a transaction until further clarification acceptable to us is received from you or the appropriate government or judicial authority. (e) We have the right to close your Xxxx XXX IRA Account if the Account drops below the minimum balance we establish and/or if your Xxxx XXX IRA Account remains inactive with no assets or new investments for a period of time designated under our internal policies. (f) We may require that your Xxxx XXX IRA Account maintain a minimum balance of cash and assets, and we have the right to distribute the entire balance of your Xxxx XXX IRA Account to you or assess a fee if the balance of your Xxxx XXX IRA Account drops below a minimum balance we establish. (g) We have the right to liquidate assets held in your IRA Account and choose which assets to liquidate in order to pay for overdue fees owed to us or as required in order to comply with state escheatment laws. We also have the right to liquidate assets held in your IRA Account and credit your IRA Account for the market value of such assets if we determine that it is administratively burdensome or not feasible to custody such assets or if there are regulatory or legal risks, as determined by us, associated with the custody or investment of such assets.