Common use of DEATH OF PLANHOLDER (applies to Quebec only) Clause in Contracts

DEATH OF PLANHOLDER (applies to Quebec only). If the Plan Holder wishes to name a successor account holder and/or a beneficiary (or beneficiaries), the account holder should do so in a will or other written document that meets the requirements of the applicable legislation. On the death of the Plan Holder, and upon receipt of official documentation, the Trustee will distribute the property of the Plan to the legal personal representative(s) of the Plan Holder. The Trustee and the Agent will be fully discharged by such payment or transfer. The Plan Holder acknowledges that it is his/her sole responsibility to ensure that a designation or revocation is valid under the applicable legislation. Before making such a payment or transfer, the Trustee must receive satisfactory evidence of death and such satisfactory instructions, releases, indemnities and other documents as may be required. Where the Trustee, after making reasonable requests for instructions from the beneficiary or the legal personal representative(s), does not receive satisfactory instructions within a reasonable time, the Trustee may in its discretion pay or transfer the Fund to the beneficiary or the legal personal representative(s). The Trustee may in its discretion liquidate all or any part of the Fund before making any such payment or transfer. Any such liquidation shall be made at such prices as the Trustee shall in its discretion determine to be the fair market value of the assets at the time; in the case of assets which are illiquid or which have no readily ascertainable market value, the Trustee may in its discretion sell the assets to the Agent for the Agent’s own account, at such price as the Trustee considers fair and proper. In the event the Trustee determines that it is advisable or desirable to pay the Fund into court, the Trustee shall be entitled to be indemnified out of the Fund for its costs and expenses, including legal costs, of doing so.

DEATH OF PLANHOLDER (applies to Quebec only). If the Plan Holder wishes to name a successor account holder and/or a beneficiary (or beneficiaries), the account holder should do so in a will or other written document that meets the requirements of the applicable legislation. On the death of the Plan Holder, and upon receipt of official documentation, the Trustee will distribute the property of the Plan to the legal personal representative(s) of the Plan Holder. The Trustee and the Agent will be fully discharged by such payment or transfer. The Plan Holder acknowledges that it is his/her sole responsibility to ensure that a designation or revocation is valid under the applicable legislation. Before making such a payment or transfer, the Trustee must receive satisfactory evidence of death and such satisfactory instructions, releases, indemnities and other documents as may be required. Where the Trustee, after making reasonable requests for instructions from the beneficiary or the legal personal representative(srepre- sentative(s), does not receive satisfactory instructions within a reasonable time, the Trustee may in its discretion pay or transfer the Fund to the beneficiary or the legal personal representative(srep- resentative(s). The Trustee may in its discretion liquidate all or any part of the Fund before making any such payment or transfer. Any such liquidation shall be made at such prices as the Trustee shall in its discretion determine to be the fair market value of the assets at the time; in the case of assets which are illiquid or which have no readily ascertainable market value, the Trustee may in its discretion sell the assets to the Agent for the Agent’s own account, at such price as the Trustee considers fair and proper. In the event the Trustee determines that it is advisable or desirable to pay the Fund into court, the Trustee shall be entitled to be indemnified out of the Fund for its costs and expenses, including legal costs, of doing so.

DEATH OF PLANHOLDER (applies to Quebec only). If the Plan Holder wishes to name a successor account holder and/or a beneficiary (or beneficiaries), the account holder should do so in a will or other written document that meets the requirements of the applicable legislation. On the death of the Plan Holder, and upon receipt of official documentation, the Trustee will distribute the property of the Plan to the legal personal representative(spersonalrepresentative(s) of the Plan Holder. The Trustee and the Agent will be fully discharged by such payment or transfer. The Plan Holder acknowledges that it is his/her sole responsibility to ensure that a designation or revocation is valid under the underthe applicable legislation. Before making such a payment or transfer, the Trustee must receive satisfactory evidence of death and such satisfactory instructions, releases, indemnities and other documents as may be requiredberequired. Where the Trustee, after making reasonable requests for instructions from the beneficiary or the legal personal legalpersonal representative(s), does not receive satisfactory instructions within a reasonable time, the Trustee may in its discretion pay or transfer the Fund to the beneficiary or the legal personal representative(s). The Trustee may in its discretion liquidate all or any part of the Fund before making any such payment or transfer. Any such liquidation suchliquidation shall be made at such prices as the Trustee shall in its discretion determine to be the fair market value of the assets at the time; in the case of assets which are illiquid or which have no readily ascertainable market value, the Trustee may in its discretion sell the assets to the Agent for the Agent’s own account, at such price as the Trustee considers fair and proper. In the event the Trustee determines that it is advisable or desirable to pay the Fund into court, the Trustee shall be entitled to be indemnified out of the Fund for its costs and expenses, including legal costs, of doing so.