IRA ACCOUNTS Sample Clauses

IRA ACCOUNTS. These accounts are governed by separate contractsand by the rules in this Agreement for the type of IRA share savings account opened.
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IRA ACCOUNTS. GSI may refer customers to companies that provide trustee and custodian services for Individual Retirement Accounts (IRA). GSI is independent from, and not affiliated with, any of these IRA companies. The customer is responsible for independently selecting the IRA company suitable for the customer. GSI does not share or assume responsibility for any loss or damage resulting from the customer’s relationship with the IRA company. You should determine the proper percentage of precious metals to allocate in and outside of an IRA based upon your individual circumstances and with the advice of a licensed investment adviser to be retained by you. Only certain bullion coins and bars and proof coins may be held in a precious metals IRA. Tax laws are complex and may change at any time. GSI does not provide tax advice. You should consult with your tax advisor about whether including precious metals in your IRA is right for you.
Sample 1
IRA ACCOUNTS. Employees shall be allowed to take advantage of the federal law concerning tax-free IRA Accounts through payroll deductions to a bank or financial institution of their choice. The Committee will request the Treasurer of the City of Xxxx to deduct and submit said sums as specified.
Sample 1
IRA ACCOUNTS. This section applies to an Account that is an individual retirement account (an “IRA”) subject to Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”). If the Account is an IRA, Client understands and represents to AIM that: (a) the Code prohibits certain types of investments by the IRA (such as S-corp stock, life insurance contracts and collectibles); (b) neither Client, his/her spouse, nor any beneficiary may assign the Account, or use it, or any portion of it, as security for a loan or borrow from the Account, and neither Client nor any other person or institution that is acting as Client’s agent or is otherwise acting on Client’s behalf may engage in any prohibited transaction, within the meaning of Code §4975 respecting the Account, and the foregoing representation by Client will not apply to any actions taken by AIM; (c) certain Investments may generate unrelated business taxable income, which Client must monitor, as it may be taxable to Client for a given tax year, and in which case Client must make filings with the Internal Revenue Service; (d) certain Investments charge redemption fees or sales charges, and these fees and charges may negatively impact the Account’s investment performance; (e) we have no duty to determine whether your contributions or distributions from the IRA comply with the Code or regulations adopted thereunder; and (f) we do not guarantee that the IRA will not lose money or depreciate. Client represents that neither the Client nor the Account itself is a plan subject to the Employee Retirement Income Security Act of 1974 (“ERISA”) or similar government regulation (a “Plan”). However, if the Account includes assets of a Plan in which Client participates, the Client: (a) understands that we will not act as a “fiduciary” within the meaning of ERISA §3(38) with respect to such Plan assets and that notwithstanding any other provision of this Agreement, we will not exercise any discretion respecting such Plan assets—you will retain all authority to direct your Plan investments under the terms of the Plan; (b) acknowledges that to the extent AIM is a “fiduciary” within the meaning of ERISA §3(21) respecting such Plan assets, AIM will act solely in the interests of the Client and Client’s beneficiaries, act with the care, skill, prudence, and diligence that a prudent man would use in the same situation, and act according to the terms of the Plan documents, to the extent the documents are consistent with ERISA; (c...
Sample 1
IRA ACCOUNTS. Not later than thirty (30) days prior to the exxxcted Closing Date, Seller shall, at Seller's expense, mail notice of Seller's resignation as custodian and the appointment of Buyer as the successor custodian, effective upon Closing, of each IRA maintained at the Branches. The notice shall include sucx xther information that is mutually agreed upon by Seller and Buyer. In the event Seller and Buyer agree that the aforementioned notice to Seller's IRA customers shall be a joint notice of Seller and Buyer, txxx Seller and Buyer shall share the expenses of mailing the joint notice.
Sample 1
IRA ACCOUNTS. Each IRA Account established under the contract is intended to be an individual retirement annuity qualified under Code Section 408(b) and Regulations thereunder. Each IRA Account is for the exclusive benefit of the Participant-Owner, Participant Owner's Beneficiary and, in the case of an IRA Account established for a Participant-Owner's spouse, such spouse and such spouse's Beneficiary. Each IRA Account established under the contract shall meet the following requirements: (a) Each Participant-Owner is the owner of his IRA Account. (b) Only cash or checks will be accepted as a contribution to an IRA Account. (c) Contributions shall be subject to the limitations set forth in Part III. (d) IRA Accounts may not be transferred by the Participant-Owner. (e) No part of the Participant-Owner's interest in his IRA Account can be forfeited. (f) A Participant-Owner may not make any loans under his IRA Account. An IRA Account cannot be pledged, assigned or otherwise used to secure a loan. (g) Payments must be made or commenced not later than the April 1 following the taxable year in which the Participant-Owner attains age 70 1/2. Distributions shall be made in accordance with the requirements of Code Section 401(a)(9) and Regulations thereunder. (h) IRA Account death benefits must be paid as provided in Part IX.
Sample 1
IRA ACCOUNTS. Each IRA Account established under the Contract is intended to be an individual retirement annuity qualified under Code Section 408(b) and Regulations thereunder. Each IRA Account is for the exclusive benefit of the Owner, the Owner's Beneficiary and, in the case of an IRA Account established for an Owner's spouse, such spouse and such spouse's Beneficiary. Each IRA Account established under the Contract shall meet the following requirements: (a) Each Participant-Owner is the owner of his IRA Account. (b) Only cash or checks will be accepted as a contribution to an IRA Account. (c) Contributions shall be subject to the limitations set forth in Part III. (d) IRA Accounts may not be transferred by the Owner. (e) No part of the Owner's interest in his IRA Account can be forfeited. (f) An Owner may not make any loans under his IRA Account. An IRA Account cannot be pledged, assigned or otherwise used to secure a loan. (g) Payments must be made or commenced not later than the April 1 following the taxable year in which the Owner attains age 70 1/2. Distributions shall be made in accordance with the requirements of Code Section 401(a)(9) and Regulations thereunder. (h) Death benefits must be paid as provided in Part IX.
Sample 1
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IRA ACCOUNTS. Prior to the Closing Date, Purchaser shall dexxxnate a successor trustee or custodian, which may be Purchaser, as to any IRA constituting a liability to be assumed by Purchaser and for xxich Seller acts as trustee or custodian. Seller will transfer the trusteeship or custodianship of all such IRAs to such successor trustee or custodian on the Closing Date. Seller shall be responsible for all federal, state and local income tax reporting for such accounts for the period ending on the Closing Date, and the successor trustee or custodian shall be responsible for such reporting thereafter.
Sample 1

Related to IRA ACCOUNTS

  • Separate Accounts If the Fund has more than one series or portfolio, the Bank will segregate the assets of each series or portfolio to which this Agreement relates into a separate account for each such series or portfolio containing the assets of such series or portfolio (and all investment earnings thereon). Unless the context otherwise requires, any reference in this Agreement to any actions to be taken by the Fund shall be deemed to refer to the Fund acting on behalf of one or more of its series, any reference in this Agreement to any assets of the Fund, including, without limitation, any portfolio securities and cash and earnings thereon, shall be deemed to refer only to assets of the applicable series, any duty or obligation of the Bank hereunder to the Fund shall be deemed to refer to duties and obligations with respect to such individual series and any obligation or liability of the Fund hereunder shall be binding only with respect to such individual series, and shall be discharged only out of the assets of such series.

  • Set Up Accounts (a) Bank shall establish and maintain the following accounts ("Accounts"): (i) a Securities Account in the name of Customer on behalf of each Fund for Financial Assets, which may be received by Bank or its Subcustodian for the account of Customer, including as an Entitlement Holder; and (ii) an account in the name of Customer ("Cash Account") for any and all cash in any currency received by Bank or its Subcustodian for the account of Customer. Notwithstanding paragraph (ii), cash held in respect of those markets where Customer is required to have a cash account in its own name held directly with the relevant Subcustodian shall be held in that manner and shall not be part of the Cash Account. Bank shall notify Customer prior to the establishment of such an account. (b) At the request of Customer, additional Accounts may be opened in the future, which shall be subject to the terms of this Agreement. (c) Except as precluded by Section 8-501(d) of the Uniform Commercial Code ("UCC"), Bank shall hold all Securities and other Financial Assets, other than cash, of a Fund that are delivered to it in a "securities account" with Bank for and in the name of such Fund and shall treat all such assets other than cash as "financial assets" as those terms are used in the UCC.

  • Retirement Accounts With respect to certain retirement plans or accounts (such as individual retirement accounts (“IRAs”), SIMPLE IRAs, SEP IRAs, Xxxx IRAs, Education IRAs, and 403(b) Plans (such accounts, “Retirement Accounts”), the Transfer Agent, at the request and expense of the Fund, provide or arrange for the provision of various services to such plans and/or accounts, which services may include custodial agent services such as account set-up maintenance, and disbursements as well as such other services as the parties hereto shall mutually agree upon.

  • User Accounts End User shall ensure that only Authorized Users can access the Services. User accounts may not be shared among individuals or used to provide access to the Services to individuals who are not the individual associated with the corresponding user account.

  • Cash Accounts The Custodian will open and maintain in the name of the Client one or more cash deposit accounts (each a “Cash Account”) in such currencies as may be required in connection with the investment activity of the Client.

  • Collection Accounts (a) On behalf of the Trustee, each Servicer shall establish and maintain, or cause to be established and maintained, one or more separate Eligible Accounts (each such account or accounts, a "Collection Account"), held in trust for the benefit of the Trustee. On behalf of the Trustee, each Servicer shall deposit or cause to be deposited in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such Servicer's receipt thereof, and shall thereafter deposit in the related Collection Account, in no event more than two Business Days after the deposit of such funds into the clearing account, as and when received or as otherwise required hereunder, the following payments and collections received or made by it subsequent to the Cut-off Date (other than in respect of principal or interest on the related Mortgage Loans due on or before the Cut-off Date), or payments (other than Principal Prepayments) received by it on or prior to the Cut-off Date but allocable to a Due Period subsequent thereto: (i) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (ii) all payments on account of interest (net of the related Servicing Fee) on each Mortgage Loan; (iii) all Insurance Proceeds and Condemnation Proceeds to the extent such Insurance Proceeds and Condemnation Proceeds are not to be applied to the restoration of the related Mortgaged Property or released to the related Mortgagor in accordance with the express requirements of law or in accordance with Accepted Servicing Practices and Liquidation Proceeds; (iv) any amounts required to be deposited pursuant to Section 3.12 in connection with any losses realized on Permitted Investments with respect to funds held in the related Collection Account; (v) any amounts required to be deposited by such Servicer pursuant to the second paragraph of Section 3.13(a) in respect of any blanket policy deductibles; (vi) all proceeds of any Mortgage Loan repurchased or purchased in accordance with this Agreement; and (vii) all Prepayment Charges collected or paid (pursuant to Section 3.07(a)) by such Servicer. The foregoing requirements for deposit in the Collection Accounts shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges, NSF fees, reconveyance fees, assumption fees and other similar fees and charges need not be deposited by each Servicer in the related Collection Account and shall, upon collection, belong to the applicable Servicer as additional compensation for its servicing activities. In the event a Servicer shall deposit in the related Collection Account any amount not required to be deposited therein, it may at any time withdraw such amount from its Collection Account, any provision herein to the contrary notwithstanding. (b) Funds in the Collection Accounts may be invested in Permitted Investments in accordance with the provisions set forth in Section 3.12. Each Servicer shall give notice to the Trustee of the location of the related Collection Account maintained by it when established and prior to any change thereof in accordance with Section 3.07(f).

  • Segregated Accounts Upon receipt of Proper Instructions, the Custodian shall establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or Securities, including Securities maintained in a Depository Account: (a) in accordance with the provisions of any agreement among the Trust, the Custodian and a broker-dealer registered under the 1934 Act and a member of FINRA (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of the Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered contract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund; (b) for purposes of segregating cash or Securities in connection with securities options purchased or written by the Fund or in connection with financial futures contracts (or options thereon) purchased or sold by the Fund; (c) which constitute collateral for loans of Securities made by the Fund; (d) for purposes of compliance by the Fund with requirements under the 1940 Act for the maintenance of segregated accounts by registered investment companies in connection with reverse repurchase agreements and when-issued, delayed delivery and firm commitment transactions; and (e) for other proper corporate purposes, but only upon receipt of Proper Instructions, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes. Each segregated account established under this Article VI shall be established and maintained for the Fund only. All Proper Instructions relating to a segregated account shall specify the Fund.

  • Investment Accounts Schedule 2 sets forth under the headings “Securities Accounts” and “Commodity Accounts”, respectively, all of the Securities Accounts and Commodity Accounts in which such Grantor has an interest. Except as disclosed to the Administrative Agent, such Grantor is the sole entitlement holder of each such Securities Account and Commodity Account, and such Grantor has not consented to, and is not otherwise aware of, any Person (other than the Administrative Agent) having “control” (within the meanings of Sections 8-106 and 9-106 of the UCC) over, or any other interest in, any such Securities Account or Commodity Account or any securities or other property credited thereto; (a) Schedule 2 sets forth under the heading “Deposit Accounts” all of the Deposit Accounts in which such Grantor has an interest and, except as otherwise disclosed to the Administrative Agent, such Grantor is the sole account holder of each such Deposit Account and such Grantor has not consented to, and is not otherwise aware of, any Person (other than the Administrative Agent) having either sole dominion and control (within the meaning of common law) or “control” (within the meaning of Section 9-104 of the UCC) over, or any other interest in, any such Deposit Account or any money or other property deposited therein; and (b) In each case to the extent requested by the Administrative Agent, such Grantor has taken all actions necessary or desirable to: (i) establish the Administrative Agent’s “control” (within the meanings of Sections 8-106 and 9-106 of the UCC) over any Certificated Securities (as defined in Section 9-102 of the UCC); (ii) establish the Administrative Agent’s “control” (within the meanings of Sections 8-106 and 9-106 of the UCC) over any portion of the Investment Accounts constituting Securities Accounts, Commodity Accounts, Securities Entitlements or Uncertificated Securities (each as defined in Section 9-102 of the UCC); (iii) establish the Administrative Agent’s “control” (within the meaning of Section 9-104 of the UCC) over all Deposit Accounts; and (iv) deliver all Instruments (as defined in Section 9-102 of the UCC) to the Administrative Agent to the extent required hereunder.

  • Checking Accounts A monthly bank reconciliation shall be conducted by Subrecipient. All checks, stubs, etc. shall be pre-numbered and accounted for, including all voided checks. Check stubs, canceled checks, and deposit slips must be readily available for audit purposes.

  • Management Accounts The Management Accounts have been prepared in accordance with the same accounting principles and practices adopted for the Accounts and show a fair view of the assets and liabilities of the Company as the Management Accounts Date.

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