Liquidation of Assets. The custodian has the right to liquidate assets in the Xxxxxxxxx ESA if necessary to make distributions or to pay fees, expenses, taxes, penalties, or surrender charges properly chargeable against the Xxxxxxxxx ESA. If the responsible individual fails to direct the custodian as to which assets to liquidate, the custodian will decide, in its complete and sole discretion, and the responsible individual agrees not to hold the custodian liable for any adverse consequences that result from the custodian’s decision.
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Samples: Coverdell Education Savings Account Custodial Account Agreement, Coverdell Education Savings Account Custodial Account Agreement, Coverdell Esa Adoption Agreement
Liquidation of Assets. The custodian Custodian has the right to liquidate assets in the Xxxxxxxxx ESA if necessary to make distributions or to pay fees, expenses, taxes, penalties, expenses or surrender charges taxes properly chargeable against the Xxxxxxxxx ESA. If the responsible individual Responsible Individual fails to direct the custodian Custodian as to which assets to liquidate, the custodian Custodian will decide, decide in its complete and sole discretion, discretion and the responsible individual Responsible Individual agrees not to hold the custodian Custodian liable for any adverse consequences that result from the custodianCustodian’s decision.
Appears in 4 contracts
Samples: Custodial Education Savings Account Agreement, Custodial Education Savings Account Agreement, Custodial Education Savings Account Agreement
Liquidation of Assets. The custodian Custodian has the right to liquidate assets in the Xxxxxxxxx ESA if necessary to make distributions or to pay fees, expenses, or taxes, penalties, or surrender charges properly chargeable against the Xxxxxxxxx ESA. If the responsible individual Responsible Individual fails to direct the custodian Cus- todian as to which assets to liquidate, the custodian Custodian will decide, decide in its complete and sole discretion, discretion and the responsible individual Respon- sible Individual agrees not to hold the custodian Custodian liable for any adverse consequences that result from the custodianCustodian’s decision.
Appears in 2 contracts
Samples: Account Agreement, Account Agreement
Liquidation of Assets. The custodian has the right to liquidate assets in the Xxxxxxxxx ESA if necessary to make distributions or to pay fees, expenses, taxes, penalties, or surrender charges properly chargeable against the Xxxxxxxxx ESA. If the responsible individual fails to direct the custodian as to which assets to liquidate, the custodian will decide, in its complete and sole discretion, and the responsible individual agrees not to hold the custodian liable for any adverse consequences that result from the custodian’s decision. Form 5305-EA under section 530 of the Internal Revenue Code.
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