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Common use of Resignation of Trustee Clause in Contracts

Resignation of Trustee. The Trustee may resign at any time by giving sixty (60) calendar days' prior written notice to the Bank, and the Trustee may be removed, with or without cause, by the Bank on sixty (60) calendar days' prior written notice to the Trustee. Such prior written notice may be waived by the party entitled to receive it. Upon any such resignation or removal becoming effective, the Trustee shall render to the Committee a written account of its administration of the Fund for the period since the last written accounting and shall do all necessary acts to transfer the assets of the Fund to the successor Trustee or Trustees.

Appears in 5 contracts

Samples: Employee Stock Ownership Plan and Trust Agreement (Lincoln Bancorp /In/), Employee Stock Ownership Plan and Trust Agreement (Union Community Bancorp), Employee Stock Ownership Plan and Trust Agreement (Union Community Bancorp)

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Resignation of Trustee. The Trustee may resign at any time by giving sixty (60) calendar days' prior written notice to the Bank, and the Trustee may be removed, with or without cause, by the Bank on sixty (60) calendar days' prior written notice to the Trustee. Such prior written notice may be waived by the party entitled to receive it. Upon any such resignation or removal becoming effective, the Trustee shall render to the Committee Bank a written account of its administration of the Fund Plan and the Trust for the period since the last written accounting and shall do all necessary acts to transfer the assets of the Fund Trust to the successor Trustee or Trustees.

Appears in 3 contracts

Samples: Recognition and Retention Plan and Trust Agreement (Third Century Bancorp), Recognition and Retention Plan and Trust Agreement (Citizens Bancorp), Recognition and Retention Plan and Trust Agreement (Lincoln Bancorp /In/)

Resignation of Trustee. The Trustee may resign at any time by giving sixty (60) calendar days' prior written notice to the BankHolding Company, and the Trustee may be removed, with or without cause, by the Bank Holding Company on sixty (60) calendar days' prior written notice to the Trustee. Such prior written notice may be waived by the party entitled to receive it. Upon any such resignation or removal becoming effective, the Trustee shall render to the Committee Holding Company a written account of its administration of the Fund Plan and the Trust for the period since the last written accounting and shall do all necessary acts to transfer the assets of the Fund Trust to the successor Trustee or Trustees.

Appears in 3 contracts

Samples: Recognition and Retention Plan and Trust (River Valley Bancorp), Recognition and Retention Plan and Trust (River Valley Bancorp), Recognition and Retention Plan and Trust (River Valley Bancorp)

Resignation of Trustee. The Trustee may resign at any time by giving sixty (60) calendar days' prior written notice to the BankAssociation, and the Trustee may be removed, with or without cause, by the Bank Association on sixty (60) calendar days' prior written notice to the Trustee. Such prior written notice may be waived by the party entitled to receive it. Upon any such resignation or removal becoming effective, the Trustee shall render to the Committee Association a written account of its administration of the Fund Plan and the Trust for the period since the last written accounting and shall do all necessary acts to transfer the assets of the Fund Trust to the successor Trustee or Trustees.

Appears in 3 contracts

Samples: Recognition and Retention Plan and Trust Agreement (Union Community Bancorp), Recognition and Retention Plan and Trust Agreement (Union Community Bancorp), Recognition and Retention Plan and Trust Agreement (City Savings Financial Corp)

Resignation of Trustee. The Trustee may resign at any time by giving sixty (60) calendar days' prior written notice to the BankHolding Company, and the Trustee may be removed, with or without cause, by the Bank Holding Company on sixty (60) calendar days' prior written notice to the Trustee. Such prior written notice may be waived by the party entitled to receive it. Upon any such resignation or removal becoming effective, the Trustee shall render to the Committee a written account of its administration of the Fund for the period since the last written accounting and shall do all necessary acts to transfer the assets of the Fund to the successor Trustee or Trustees.

Appears in 2 contracts

Samples: Employee Stock Ownership Plan and Trust Agreement (River Valley Bancorp), Employee Stock Ownership Plan and Trust Agreement (City Savings Financial Corp)

Resignation of Trustee. The A Trustee may resign the Trusteeship at any time by giving sixty time. Any resignation shall be in writing and shall become effective only after thirty (6030) calendar days' prior days from the date of mailing or delivery of written notice to the BankBeneficiary, the next successor Trustee, if any, and any court in which a protective proceeding for the Trustee may be removedbeneficiary has been established. If notice is mailed, with or without cause, by the Bank on sixty thirty (6030) calendar days' prior written day period begins to run upon deposit of the notice in the mail addressed to the person's last address known to the Trustee. Such prior written notice may be waived by the party entitled to receive it. Upon any such resignation or removal becoming effective, the Trustee shall render to the Committee a written account of its administration of the Fund for the period since the last written accounting and shall do all necessary acts to transfer the assets of the Fund to the successor Trustee or Trustees.

Appears in 1 contract

Samples: Irrevocable Trust Agreement

Resignation of Trustee. The Trustee may resign at any time by giving sixty (60) calendar days' prior written notice to the BankCommittee, and the Trustee may be removed, with or without cause, by the Bank Committee on sixty (60) calendar days' prior written notice to the Trustee. Such prior written notice may be waived by the party entitled to receive it. Upon any such resignation or removal becoming effective, the Trustee shall render to the Committee a written account of its administration of the Fund Plan and the Trust for the period since the last written accounting and shall do all necessary acts to transfer the assets of the Fund Trust to the successor Trustee or Trustees.

Appears in 1 contract

Samples: Recognition and Retention Plan and Trust Agreement (Three Rivers Financial Corp)

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Resignation of Trustee. The Trustee may resign at any time by giving sixty (60) calendar days' prior written notice to the BankCommittee, and the Trustee may be removed, with or without cause, by the Committee but with the written consent of the Bank on sixty (60) calendar days' prior written notice to the Trustee. Such prior written notice may be waived by the party entitled to receive it. Upon any such resignation or removal becoming effective, the Trustee shall render to the Committee a written account of its administration of the Fund for the period since the last written accounting and shall do all necessary acts to transfer the assets of the Fund to the successor Trustee or Trustees.

Appears in 1 contract

Samples: Employee Stock Ownership Plan and Trust Agreement (Third Century Bancorp)

Resignation of Trustee. The Trustee may resign as Trustee at ---------------------- any time by giving upon sixty (60) calendar days' prior written notice to the BankInvestment Committee, and or such other date as the Trustee parties may agree. Such resignation shall be removedeffective as of the date the Investment Committee appoints a successor trustee; provided that, with or without cause, by the Bank on if no successor trustee is appointed within sixty (60) calendar days' prior written notice to days after the Investment Committee's receipt of the Trustee. Such prior written 's notice may be waived by the party entitled to receive it. Upon any such resignation or removal becoming effectiveof resignation, the Trustee shall render to the Committee a written account of its administration of the Fund for the period since the last written accounting and shall do all necessary acts to transfer the assets of the Fund to the successor Trustee or Trustees.may apply to

Appears in 1 contract

Samples: Trust Agreement (Earthgrains Co /De/)

Resignation of Trustee. The Trustee may resign at any time by giving sixty (60) calendar days' prior written notice to the Bank, and the Trustee may be removed, with or without cause, by the Bank on sixty (60) calendar days' prior written notice to the Trustee. Such prior written notice may be waived by the party entitled to receive it. Upon any such resignation or removal becoming effective, the Trustee shall render to the Committee a written account of its administration of the Fund for the period since the last written accounting and shall do all necessary acts to transfer the assets of the Fund to the successor Trustee or Trustees.

Appears in 1 contract

Samples: Employee Stock Ownership Plan and Trust Agreement (Union Community Bancorp)

Resignation of Trustee. The Trustee may resign at any time by giving sixty (60) calendar days' prior written notice to the BankAssociation, and the Trustee may be removed, with or without cause, by the Bank Association on sixty (60) calendar days' prior written notice to the Trustee. Such prior written notice may be waived by the party entitled to receive it. Upon any such resignation or removal becoming effective, the Trustee shall render to the Committee Association a written account of its administration of the Fund Plan and the Trust for the period since the last written accounting and shall do all necessary acts to transfer the assets of the Fund Trust to the successor Trustee or Trustees.

Appears in 1 contract

Samples: Recognition and Retention Plan and Trust Agreement (Union Community Bancorp)

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