Resignation and Removal of Custodian. (a) The Custodian may resign and appoint a successor trustee or custodian to serve under this agreement or under another governing agreement selected by the successor trustee or custodian by giving the Depositor written notice at least 30 days prior to the effective date of such resignation and appointment, which notice shall also include or be provided under separate cover a copy of such other governing instrument, if applicable, and the related disclosure statement. The Depositor shall then have 30 days from the date of such notice to either request a distribution of the entire account balance or designate a different successor trustee or custodian and notify the Custodian of such designation. If the Depositor does not request distribution of the account balance or notify the Custodian of the designation of a different successor trustee or custodian within such 30 day period, the Depositor shall be deemed to have consented to the appointment of the successor trustee or custodian and the terms of any new governing instrument, and neither the Depositor nor the successor shall be required to execute any written document to complete the transfer of the account to the successor trustee or custodian. The successor trustee or custodian may rely on any information, including beneficiary designations, previously provided by the Depositor to the Custodian.
Resignation and Removal of Custodian. 1. The Custodian may resign at any time by giving at least 30 days’ written notice to the Responsible Individual. The Custodian may resign and appoint a successor custodian or trustee to serve under this Xxxxxxxxx ESA Custodial Agreement or under another governing instrument selected by the successor custodian or trustee by giving the Responsible Individual written notice at least 30 days prior to the effective date of such resignation and appointment, which notice shall also include a copy of such other governing instrument, if applicable. The Responsible Individual shall then have 30 days from the date of such notice to either request a complete distribution of the Custodial Account or designate a different successor custodian or trustee. If the Responsible Individual does not request distribution of the Custodial Account or designate a different successor within such 30 days, the Responsible Individual shall be deemed to have consented to the appointment of the successor custodian or trustee and the terms of any new governing instrument. No executed written instrument of any Account Party shall be required to effect such transfer. The successor custodian may rely on any information, including death beneficiary designations, previously provided to the Custodian.
Resignation and Removal of Custodian. (a) Subject to subsection (d) below, the Custodian may resign its duties hereunder by providing the Administrative Agent, the Borrower and the Manager with at least 60 days’ prior written notice, unless it has received notice of any amendment, modification, supplement or waiver to any related agreement that materially adversely affects the obligations of the Custodian or adversely affects or otherwise modifies the compensation of the Custodian as set forth in Section 4(k) hereof, in which case the Custodian may resign its duties hereunder upon 10 days’ prior written notice to such parties.
Resignation and Removal of Custodian. (a) The Custodian may resign at any time by giving at least 30 days notice to the Designated Beneficiary (or Responsible Individual). The Custodian may resign and appoint a successor trustee or custodian to serve under this agreement or under another governing instrument selected by the successor trustee or custodian by giving the Designated Beneficiary (or Responsible Individual) written notice at least 30 days prior to the effective date of such resignation and appointment, which notice shall also include a copy of such other governing instrument, if applicable, and the related disclosure statement. The Designated Beneficiary (or Responsible Individual) shall then have 30 days from the date of such notice to either request a complete distribution of the account balance or designate a different successor trustee or custodian. If the Designated Beneficiary (or Responsible Individual) does not request distribution of the account or designate a different successor within such 30 days, the Designated Beneficiary (or Responsible Individual) shall be deemed to have consented to the appointment of the successor trustee or custodian and the terms of any new governing instrument, and neither the Depositor, Designated Beneficiary, Responsible Individual nor the successor shall be required to execute any written document to complete the transfer of the account to the successor trustee or custodian. The successor trustee or custodian may rely on any information, including death Beneficiary designations, previously provided by the Depositor, Designated Beneficiary or Responsible Individual.
Resignation and Removal of Custodian. The Custodian may resign at any time upon 30 days' notice to the Participant. The Custodian may elect to appoint a successor Custodian to be effective as of the date specified in such instrument and upon acceptance by the successor custodian, provided, however, that any successor custodian so appointed shall be an entity authorized to act as Custodian of custodial accounts established under individual retirement accounts, organized under the laws of the United States or any state of the United States, and subject to supervision and examination by governmental authority. The Custodian may be removed at any time by the Participant upon 30 days' written notice to the Custodian. Upon resignation or removal of the Custodian, the Participant shall appoint a successor Custodian which shall have the same powers and duties as are conferred upon the Custodian hereunder, and in default thereof, such successor Custodian may be appointed by a court of competent jurisdiction. The Participant shall substitute a trustee or another custodian upon notification by the Commissioner of Internal Revenue that such substitution is required because the Custodian has failed to comply with Treasury Regulation 1.401-12(n) or is not keeping records, or is not making such returns, or is not rendering such statements as are required by the applicable forms and regulations. Upon the delivery by the resigning or removed Custodian to its successor Custodian of all property of the Custodial Account, less such reasonable amount as it shall deem necessary to provide for its expenses, compensation and any taxes or advances chargeable or payable out of the Custodial Account, the successor Custodian shall thereupon have the same powers and duties as are conferred upon the Custodian.
Resignation and Removal of Custodian. Section 4.1 Removal 4 Section 4.2 Resignation 5 Section 4.3 Appointment of Successor 5 Section 4.4 Effectiveness of Resignation or Removal 6 Section 4.5 Acceptance by Successor 6 ARTICLE V
Resignation and Removal of Custodian. Section 4.1. Removal...............................................................5 Section 4.2. Resignation...........................................................6 Section 4.3. Appointment of Successor..............................................6 Section 4.4. Effectiveness of Resignation or Removal...............................6 Section 4.5. Acceptance by Successor...............................................6
Resignation and Removal of Custodian. (a) The Custodian may resign at any time by giving at least sixty (60) days notice to the Sponsor, in which case the Sponsor shall appoint a successor trustee or custodian to serve under this agreement or under another governing instrument selected by the successor trustee or custodian by giving the Depositor written notice at least 30 days prior to the effective date of such resignation and appointment, which notice shall also include a copy of such other governing instrument, if applicable, and the related disclosure statement. The Depositor shall then have thirty
Resignation and Removal of Custodian. (a) The Custodian may resign at any time by appointing a successor trustee or custodian ("Successor Custodian") to serve under this agreement or under another governing instrument selected by the successor trustee or custodian ("Successor Agreement") and by sending notification of its resignation and the appointment of the Successor Custodian no less than thirty (30) days in advance of the effective date of the resignation and including with the resignation notice a copy of the Successor Agreement, if applicable, and any related disclosure materials. If the Responsible Individual does not on or before the effective date of the resignation request a liquidation and distribution of all investments in the Custodial Account or designate a different successor trustee or custodian, the Custodian is authorized and directed to liquidate all holdings of the Custodial Account and transfer the cash liquidation proceeds to the Successor Custodian subject to all terms of any Successor Agreement, and no executed written instrument of any Account Party of any nature shall be required to effect such transfer. The Successor Custodian may rely on any information, including death beneficiary designations, previously provided to the Custodian.
Resignation and Removal of Custodian. (a) The Custodian may at any time resign hereunder by giving written notice of its resignation to the Owner at least sixty (60) days prior to the date specified for such resignation to take effect, and upon the effective date of such resignation, the Custodial Assets hereunder shall be delivered by it to such person as may be designated in writing by the Owner, whereupon all the Custodian’s obligations hereunder shall cease and terminate. If no such person shall have been designated by such date, all obligations of the Custodian hereunder shall, nevertheless, cease and terminate. The Custodian’s sole responsibility thereafter shall be to keep safely all Custodial Assets then held by it and to deliver the same to a person designated by the Owner or in accordance with the direction of a final order or judgment of a court of competent jurisdiction.
