Common use of Resignation or Removal of Custodian Clause in Contracts

Resignation or Removal of Custodian. The Custodian may resign at any time by giving at least 30 days' written notice to the Distributor. The Distributor may remove the Custodian at any time by giving at least 30 days' written notice to the Custodian. If the Custodian resigns or is removed, the Distributor must either appoint a successor custodian to serve under this Agreement or notify the Depositor that he or she must appoint a successor custodian. The successor custodian must provide a written acceptance of its appointment as successor custodian to the Custodian. Upon receiving this written acceptance, the Custodian must transfer to the successor custodian all of the assets and records of the custodial account. The Custodian may reserve a portion of the custodial account assets to pay for any fees, compensation, costs, expenses, or for any liabilities constituting a charge on or against the Custodian. If any assets remain after paying these items, the Custodian will pay the remainder to the successor custodian. If the Custodian resigns or is removed, and the Distributor or the Depositor has not appointed a successor custodian within 30 days after the Custodian's resignation or removal (or a longer period, if the Custodian agrees), the Custodian will terminate this Agreement as provided in paragraph 11, below. After the Custodian has transferred the custodial account assets to the successor custodian, the Custodian is relieved of any further liability for this Agreement, the custodial account, and the custodial account assets. The Custodian or any successor custodian appointed to serve under this Agreement, must be either 1) a bank as defined in Internal Revenue Code Section 408(n), or 2) such other person who qualifies to serve as prescribed by Internal Revenue Code Section 408(a)(2) and satisfies the Distributor and the Custodian that he or she qualifies.

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 Custodian may resign at Fund shall be responsible to obtain a successor custodian for all Retirement Accounts. (b) If the Fund chooses to discontinue performing any time by giving of its duties and obligations with respect to any or all Retirement Accounts, it will give the Transfer Agent at least 30 one hundred twenty (120) days' written notice prior to the Distributorsuch discontinuance. The Distributor Transfer Agent may remove the Custodian at thereupon resign as custodian in respect to any time or all Retirement Accounts by giving at least 30 providing (30) days' prior written notice to the CustodianFund. If the Custodian resigns or is removedIn such an event, the Distributor must either appoint Fund shall be responsible to obtain a successor custodian for the Retirement Accounts. Upon written acceptance by the successor custodian, the Fund will promptly distribute the notice of the Custodian's resignation to serve such persons and in such manner as are called for under this Agreement the applicable provisions of the Retirement Account and in form and content satisfactory to and signed by the Bank. (c) If at any time and for any reason the Transfer Agent chooses to resign as custodian of any or notify all Retirement Accounts, it will give the Depositor Fund at least thirty (30) days' prior written notice. In connection with Transfer Agent resignation hereunder or pursuant to Sections 1.5(a), 1.5(b), the Transfer Agent may, but is not required to, designate a successor custodian by written notice to the Fund, and the Fund will be deemed to have consented to such successor unless the Fund designates a different successor custodian and provides written notice thereof together with such a different successor's written acceptance by such date as the Transfer Agent specifies in its original notice to the Fund provided that he the Fund will have a minimum of thirty (30) days to designate a different successor. The Fund will promptly distribute the notice of the Transfer Agent's resignation as custodian 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. (d) If within thirty (30) days (or she must appoint such longer time as the custodian may agree to in writing) after resignation by the custodian, the Fund or the Transfer Agent has not appointed a successor custodian who has accepted such appointment in writing, the Fund shall within a further period of thirty (30) days apply to a court of competent jurisdiction for appointment of a successor custodian. The , provided that if (i) the Fund shall have failed to have made such application within such period or (ii) the court shall have dismissed such application without having made such appointment, and (iii) no successor custodian must provide shall have then accepted appointment , then (iv) termination of the custodian's responsibilities shall be effected by distributing all assets of the Retirement Account in a written acceptance of its appointment single payment in cash or in kind to each Participant, subject to the Transfer Agent's right as successor custodian to the Custodian. Upon receiving this written acceptance, the Custodian must transfer to the successor custodian reserve such funds as it may deem advisable for payment of all of the assets and records of the custodial account. The Custodian may reserve a portion of the custodial account assets to pay for any its fees, compensation, costs, expenses, costs and expenses or for payment of any other liabilities constituting a charge on or against the Custodian. If any assets remain after paying these items, of Retirement Accounts or on or against the Custodian will pay the remainder to the successor custodian. If the Custodian resigns or is removed, and the Distributor or the Depositor has not appointed a successor custodian within 30 days Any amounts remaining after the Custodian's resignation or removal (or a longer period, if the Custodian agrees), the Custodian will terminate this Agreement as provided in paragraph 11, below. After the Custodian has transferred the custodial account assets payment of such costs shall be delivered to the successor custodian, the Custodian is relieved if any. (e) Upon appointment of any further liability for and acceptance by a successor custodian under this AgreementSection 1.5, the custodial account, and custodian shall transfer all assets in book entry form relating to the custodial account assets. The Custodian or any Retirement Accounts to the successor custodian appointed to serve under this Agreement, must be either 1) a bank as defined in Internal Revenue Code Section 408(n), or 2) such other person who qualifies to serve as prescribed by Internal Revenue Code Section 408(a)(2) and satisfies the Distributor and the Custodian that he or she qualifiescustodian.

Resignation or Removal of Custodian. (a) The Custodian may resign at any time as the Custodian hereunder without the consent of the Depositor, by giving at least providing notice of such resignation 30 days' written notice days prior to the Distributoreffective date of the resignation. The Distributor may remove In the Custodian at any time event of a resignation by giving at least 30 days' written notice to the Custodian. If the Custodian resigns or is removed, the Distributor must either appoint a successor custodian to serve under this Agreement or notify the Depositor that he or she must appoint a successor custodianCustodian or Trustee. The successor custodian must provide Upon receipt by the Custodian of a written acceptance of its such appointment as by the successor custodian to the Custodian. Upon receiving this written acceptanceCustodian or Trustee, the Custodian must shall transfer and pay over to such successor the assets of the custodial account. If after 30 days from notice of resignation, the Custodian has not received written acceptance of such appointment by the successor Custodian or Trustee, the Custodian shall pay or otherwise transfer to the successor custodian all of Depositor the assets and records of remaining in the custodial account. The Custodian may is authorized, however, to reserve a portion such funds as it deems advisable for payment of the custodial account assets to pay for any fees, compensation, costs, expenses, or for any liabilities constituting a charge on against the assets of the custodial account or against the Custodian, with any balance of such reserve remaining after payment of all such items to be paid over to the successor Custodian. (b) Upon the appointment and qualification of a successor Custodian or Trustee, the successor Custodian or Trustee shall assume all rights, powers, and privileges, liabilities and duties of the Custodian. If any assets remain after paying these itemsUpon acceptance of appointment by the successor Custodian or Trustee, the Custodian will pay the remainder shall assign, transfer and deliver to the successor custodianall funds held in the custodial account. If The Custodian is authorized, however, to reserve such funds as it deems advisable for payment of any liabilities constituting a charge against the Custodian resigns or is removed, and the Distributor or the Depositor has not appointed a successor custodian within 30 days after the Custodian's resignation or removal (or a longer period, if the Custodian agrees), the Custodian will terminate this Agreement as provided in paragraph 11, below. After the Custodian has transferred assets of the custodial account assets or against the Custodian, with any balance of such reserve remaining after the payment of all such items to be paid over to the successor custodian, the Custodian is relieved of any further liability for this Agreement, the custodial account, and the custodial account assets. The Custodian or any successor custodian appointed to serve under this Agreement, must be either 1) a bank as defined in Internal Revenue Code Section 408(n), or 2) such other person who qualifies to serve as prescribed by Internal Revenue Code Section 408(a)(2) and satisfies the Distributor and the Custodian that he or she qualifiesTrustee.

Resignation or Removal of Custodian. The Custodian may resign at any time by giving time, upon at least 30 days' ’ written notice to the DistributorEmployer. The Distributor Custodian may remove be removed by the Custodian Employer at any time by giving at least time, upon 30 days' written ’ writ- ten notice to the Custodian. If Upon resignation of the Custodian resigns or is removedCustodian, the Distributor must either appoint a successor custodian to serve under this Agreement or notify the Depositor that he or she must Sponsoring Organization may, but shall not be required to, appoint a successor custodian. The successor custodian must provide Upon removal of the Custodian, the Employer shall appoint a suc- cessor custodian, but in that event the Plan shall be considered an individually designed plan for purposes of Section 9.2 and the Employer may no longer rely on the opinion letter received from the IRS in connection with the Prototype Plan. Upon receipt by the Custodian of written acceptance of its appointment as by a successor custodian custodian, and notice by the Custodian to the Custodian. Upon receiving this written acceptanceParticipants, the Custodian must shall transfer and pay over to the such successor custodian all of the assets and records of held in the custodial accountParticipants’ SIMPLE-IRAs under the Plan, to such successor custodian. The Custodian is authorized to reserve from each Participant’s SIMPLE-IRA such sum of money or property as it may reserve a portion deem advisable for payment of the custodial account assets to pay for any all its fees, compensation, costs, costs and expenses, or for payment of any other liabilities constituting a charge on or against the Custodian. If any assets remain after paying these itemsof the Plan, or on or against the Custodian will pay or the remainder Sponsoring Organization, with any balance of such reserve remaining after the payment of all such items to be paid over to the successor custodian. If The Custodian shall not be liable for the Custodian resigns acts or is removedomissions of any successor to it. If, and the Distributor or the Depositor has not appointed a successor custodian within 30 days after the Custodian's ’s resignation or removal (or a longer periodremoval, if the Custodian agrees), the Custodian will terminate this Agreement as provided in paragraph 11, below. After the Custodian has transferred the custodial account assets to the successor custodian, the Custodian is relieved of any further liability for this Agreement, the custodial account, and the custodial account assets. The Custodian or any no successor custodian is appointed to serve under this Agreement, must be either 1within (30) a bank as defined in Internal Revenue Code Section 408(n), or 2) such other person who qualifies to serve as prescribed by Internal Revenue Code Section 408(a)(2) and satisfies the Distributor and the Custodian that he or she qualifies.thirty days,

Resignation or Removal of Custodian. The (a) Custodian may resign at any time as Custodian hereunder without the consent of Depositor, by giving at least providing notice of such resignation 30 days' written notice days prior to the Distributoreffective date of the resignation. The Distributor may remove In the event of a resignation by Custodian at any time by giving at least 30 days' written notice to the Custodian. If the Custodian resigns or is removed, the Distributor must either appoint a successor custodian to serve under this Agreement agreement or notify the Depositor that he or he/she must appoint a successor custodian. The successor custodian must provide Upon receipt by Custodian of a written acceptance of its such appointment as by the successor custodian, Custodian shall transfer and pay over to such successor the assets for the Custodial Account. If after 30 days from notice of resignation, Custodian has not received written acceptance of such appointment by successor custodian, (b) Upon the appointment and qualification of a successor custodian to or trustee, the successor custodian or trustee shall assume all rights, powers, and privileges, liabilities and duties of the Custodian. Upon receiving this written acceptanceacceptance of appointment by the successor custodian or trustee, the Custodian must transfer shall assign, transfer, and deliver to the successor custodian all of funds held in the assets and records of the custodial accountCustodial Account in which such removal relates. The Custodian may is authorized, however, to reserve a portion such funds as it deems advisable for payment of the custodial account assets to pay for any fees, compensation, costs, expenses, or for any liabilities constituting a charge on against the assets of the Custodial Account or against the Custodian. If , with any assets remain balance of such reserve remaining after paying these items, the Custodian will pay the remainder payment of all such items to be paid over the successor custodian. If the Custodian resigns custodian or is removed, and the Distributor or the Depositor has not appointed a successor custodian within 30 days after the Custodian's resignation or removal (or a longer period, if the Custodian agrees), the Custodian will terminate this Agreement as provided in paragraph 11, below. After the Custodian has transferred the custodial account assets to the successor custodian, the Custodian is relieved of any further liability for this Agreement, the custodial account, and the custodial account assets. The Custodian or any successor custodian appointed to serve under this Agreement, must be either 1) a bank as defined in Internal Revenue Code Section 408(n), or 2) such other person who qualifies to serve as prescribed by Internal Revenue Code Section 408(a)(2) and satisfies the Distributor and the Custodian that he or she qualifiestrustee.