Common use of Successor or Substitute Custodian Clause in Contracts

Successor or Substitute Custodian. If Xxxxxx Xxxxx merges with, purchases or is purchased by another organization, such organization shall automatically become custodian of the Xxxx XXX established pursuant to this Agreement, but only if such organization is authorized under applicable law to be custodian of a Xxxx XXX. No successor trustee or custodian shall have any obligation or liability for the acts or omissions of its predecessors. If the Commissioner of the IRS notifies that a substitute custodian must be appointed, then I shall appoint a substitute custodian.

Successor or Substitute Custodian. If Xxxxxx Xxxxx merges with, purchases or is purchased by another organization, such organization shall automatically become custodian of the Xxxx XXX established pursuant to this Agreement, but only if such organization is authorized under applicable law to be custodian of a Xxxx an XXX. No successor trustee or custodian shall have any obligation or liability for the acts or omissions of its predecessors. If the Commissioner of the IRS notifies that a substitute custodian must be appointed, then I shall appoint a substitute custodian.

Successor or Substitute Custodian. If Xxxxxx Xxxxx merges with, purchases or is purchased by another organization, such organization shall automatically become custodian of the Xxxx XXX account established pursuant to this Agreement, but only if such organization is authorized under applicable law to be custodian of a Xxxx XXXthe account. No successor trustee or custodian shall have any obligation or liability for the acts or omissions of its predecessors. If the Commissioner of the IRS notifies that a substitute custodian must be appointed, then I shall appoint a substitute custodian.