Common use of Resignation or Removal of Custodian Clause in Contracts

Resignation or Removal of Custodian. The Company may remove the Custodian at any time, and the Custodian may resign at any time, upon thirty (30) days’ notice, written or otherwise, to the Depositor. Upon the removal or resignation of the Custodian, the Company may, but shall not be required to, appoint a successor Custodian under this Custodial Agreement; provided that any successor custodian shall satisfy the requirements of the Code. Upon any such successor’s acceptance of appointment, the Custodian shall transfer the assets of the Custodial Account to such successor custodian; provided, however, that the Custodian is authorized to reserve such sum of money or property as it may deem advisable for payment of any liabilities constituting a charge on or against the assets of the Custodial Account, or on or against the Custodian or the Company. Upon acceptance of such appointment, a successor custodian shall be vested with all authority of the Custodian pursuant to this Agreement. The Custodian shall not be liable for the acts or omissions of any successor to it. If no successor Xxxxxxxxx is appointed by the Company, the Custodial Account shall be terminated, and the assets of the Account, reduced by the amount of any unpaid fees or expenses, will be distributed to the Depositor.

Resignation or Removal of Custodian. The Company may remove the Custodian at any time, and the Custodian may resign at any time, time upon thirty (30) days’ notice, written or otherwise, to the Custodian and the Depositor (or following the death of the Depositor, the Beneficiary). Upon The Custodian may resign at any time upon thirty (30) days’ notice, written or otherwise to the Depositor (or following the death of the Depositor, the Beneficiary). In connection with its resignation hereunder, the Custodian may, but is not required to, appoint a successor custodian with the consent of the Company, or upon the removal or resignation of the Custodian, the Company may, but shall not be required to, appoint a successor Custodian custodian under this Custodial Agreement; provided that any successor custodian shall satisfy the requirements of the Code. Upon any such successor’s acceptance of appointment, the Custodian shall transfer the assets of the Custodial Account to such successor custodian; provided, however, that the Custodian is authorized to reserve such sum of money or property as it may deem advisable for payment of any liabilities constituting a charge on or against the assets of the Custodial Account, or on or against the Custodian or the Company. Upon acceptance of such appointment, a successor custodian shall be vested with all authority of the Custodian pursuant to this Agreement. The Custodian shall not be liable for the acts or omissions of any predecessor or successor to it. If no successor Xxxxxxxxx custodian is appointed by the CompanyCompany or the Custodian, the Custodial Account shall be terminated, and the assets of the Account, reduced by the amount of any unpaid fees or expenses, will be distributed to the Depositor (or following the death of the Depositor, the Beneficiary).

Resignation or Removal of Custodian. The Company may remove the Custodian at any time, and the Custodian may resign at any time, time upon thirty (30) days’ notice, written or otherwise, to the Custodian and the Depositor (or following the death of the Depositor, the Beneficiary). Upon The Custodian may resign at any time upon thirty (30) days’ notice, written or otherwise, to the Depositor (or following the death of the Depositor, the Beneficiary). In connection with its resignation hereunder, the Custodian may, but is not required to, appoint a successor custodian with the consent of the Company, or upon the removal or resignation of the Custodian, the Company may, but shall not be required to, appoint a successor Custodian custodian under this Custodial Agreement; provided that any successor custodian shall satisfy the requirements of the Code. Upon any such successor’s acceptance of appointment, the Custodian shall transfer the assets of the Custodial Account to such successor custodian; provided, however, that the Custodian is authorized to reserve such sum of money or property as it may deem advisable for payment of any liabilities constituting a charge on or against the assets of the Custodial Account, or on or against the Custodian or the Company. Upon acceptance of such appointment, a successor custodian shall be vested with all authority of the Custodian pursuant to this Agreement. The Custodian shall not be liable for the acts or omissions of any predecessor or successor to it. If no successor Xxxxxxxxx custodian is appointed by the CompanyCompany or the Custodian, the Custodial Account shall be terminated, and the assets of the Account, reduced by the amount of any unpaid fees or expenses, will be distributed to the Depositor (or following the death of the Depositor, the Beneficiary).

Resignation or Removal of Custodian. The Company may remove the Custodian at any time, and the Custodian may resign at any time, time upon thirty (30) days’ notice, days written or otherwise, notice to the DepositorParticipant and Sponsor. Upon the removal or resignation of the Custodian, the Company Custodian may, but shall not be required to, appoint a successor Custodian under this Custodial Agreementcustodian, and upon any resignation of the Custodian, the Sponsor may appoint a successor custodian; provided that any successor custodian appointed by the Custodian or the Sponsor shall satisfy the requirements of Section 408(a)(2) of the Code; and provided further that the appointment of a successor custodian by the Sponsor shall take precedence over the appointment of a successor custodian by the Custodian. Upon any such appointment of a successor custodian, and upon such successor’s 's acceptance of appointmentsuch designation, the Custodian shall transfer the assets of the Custodial Account together with copies of relevant books and records, to such successor custodian; provided. The Custodian is authorized, however, that the Custodian is authorized to reserve such sum of money or property as it may deem advisable for payment of any liabilities constituting a charge on or against the assets of the Custodial AccountAccount held hereunder, or on or against the Custodian or the Company. Upon acceptance Custodian, with any balance of such appointment, a reserve remaining after the payment of all such items to be paid over to the successor custodian. The successor custodian shall be vested with all authority hold the assets paid over to it under terms similar to those of this Agreement that qualify under Section 408 of the Custodian pursuant to this AgreementCode. The Custodian shall not be liable for the acts or omissions of any successor to it. If no within thirty (30) days after notice of the Custodian's resignation neither the Custodian nor the Sponsor has appointed a successor Xxxxxxxxx is appointed by the CompanyCustodian which has accepted such appointment, the Custodial Account Sponsor shall be terminatedterminate the Plan in accordance with Section 7.3, and the assets of the Account, reduced by the amount of any unpaid fees or expenses, will be distributed to the Depositorthis Agreement shall thereupon terminate.

Resignation or Removal of Custodian. The Company may remove the Custodian at any time, and the Custodian may resign at any time, upon thirty (30) days’ notice, written or otherwise, days notice to the Depositor. Upon the removal or resignation of the Custodian, the Company may, but shall not be required to, appoint a successor Custodian custodian under this Custodial Agreement; provided that any successor custodian shall satisfy the requirements of Section 408(a)(2) of the Code. Upon any such successorsuc- cessor’s acceptance of appointment, the Custodian shall transfer the assets of the Custodial Account Account, to such successor custodian; provided, however, that the Custodian is authorized to reserve such sum of money or property as it may deem advisable for payment of any liabilities constituting a charge on or against the assets of the Custodial Account, or on or against the Custodian or the Company. Upon acceptance of such appointment, a successor custodian shall be vested with all authority authority, discretionary or otherwise, of the Custodian pursuant to this Agreement. The Custodian shall not be liable for the acts or omissions of any successor to it. If no successor Xxxxxxxxx custodian is appointed by the Company, the Custodial Account shall be terminated, and the assets of the Account, reduced by the amount of any unpaid fees or expenses, will be distributed to the Depositor or, following the death of the Depositor, the Beneficiary).

Resignation or Removal of Custodian. The Company may remove the Custodian at any time, and the Custodian may resign at any time, upon thirty (30) days’ notice, written or otherwise, days notice to the Depositor (or following the death of the Depositor, the Beneficiary). Upon the removal or resignation of the Custodian, the Company may, but shall not be required to, appoint a successor Custodian custodian under this Custodial Agreement; provided that any successor custodian shall satisfy the requirements of the Code. Upon any such successor’s acceptance of appointment, the Custodian shall transfer the assets of the Custodial Account Account, to such successor custodian; provided, however, that the Custodian is authorized to reserve such sum of money or property as it may deem advisable for payment of any liabilities constituting a charge on or against the assets of the Custodial Account, or on or against the Custodian or the Company. Upon acceptance of such appointment, a successor custodian shall be vested with all authority authority, discretionary, or otherwise of the Custodian pursuant to this Agreement. The Custodian shall not be liable for the acts or omissions of any predecessor or successor to it. If no successor Xxxxxxxxx custodian is appointed by the Company, the Custodial Account shall be terminated, and the assets of the Account, reduced by the amount of any unpaid fees or expenses, will be distributed to the Depositor (or following the death of the Depositor, the Beneficiary).