Common use of Resignation or Removal of Custodian Clause in Contracts

Resignation or Removal of Custodian. (a) If either party chooses to terminate pursuant to Section 13 of the Agreement the Transfer Agent may thereupon resign as custodian in respect to any or all of the Retirement Accounts upon thirty (30) days' prior written notice to the Fund. In such an event, the Fund will promptly distribute the notice of the custodian's resignation to such persons and in such manner as are called for under the applicable provisions of the Retirement Account and in form and content satisfactory to and signed by the Transfer Agent. The Fund shall be responsible to obtain a successor custodian for all Retirement Accounts.

Resignation or Removal of Custodian. (a) If either party chooses to terminate pursuant to Section 13 12 of the Agreement the Transfer Agent may thereupon resign as custodian in respect to any or all of the Retirement Accounts upon thirty sixty (3060) days' prior written notice to the FundTrust. In such an event, the Fund Trust will promptly distribute the notice of the custodian's resignation to such persons and in such manner as are called for under the applicable provisions of the Retirement Account and in form and content satisfactory to and signed by the Transfer Agent. The Fund Trust shall be responsible to obtain a successor custodian for all Retirement Accounts.