Common use of Termination by Custodian Clause in Contracts

Termination by Custodian. (a) The Custodian may elect to terminate the Custodial Account if, within sixty (60) days after its resignation or removal pursuant to Article XI, the State Farm Associates' Funds Trust has not appointed a Successor Custodian which has accepted such appointment. Termination of the Custodial Account shall be effected by distributing to Participant all assets of the Custodial Account in a lump-sum payment in cash or Shares, at the sole discretion of Custodian, subject to Custodian's right to reserve funds as described in Article XI.

Termination by Custodian. (a) The Custodian may elect to terminate the Custodial Account if, within sixty (60) days after its resignation or removal pursuant to Article XI, the State Farm Associates' ’ Funds Trust has not appointed a Successor Custodian which has accepted such appointment. Termination of the Custodial Account shall be effected by distributing to Participant all assets of the Custodial Account in a lump-sum payment in cash or Shares, at the sole discretion of Custodian, subject to Custodian's ’s right to reserve funds as described in Article XISection 11.1.

Termination by Custodian. (a) The Custodian may elect to terminate the Custodial Account if, within sixty (60) days after its resignation or removal pursuant to Article XI, the State Farm Associates' Funds Trust has not appointed a Successor Custodian which has accepted such appointment. Termination of the Custodial Account shall be effected by distributing to Participant all assets of the Custodial Account in a lump-sum payment in cash or Shares, at the sole discretion of Custodian, subject to Custodian's right to reserve funds as described in Article XISection 11.1.

Termination by Custodian. (a) The Custodian may elect to terminate the Custodial Account if, within sixty (60) days after its resignation or removal pursuant to Article XI, the State Farm Associates' ’ Funds Trust has not appointed a Successor Custodian which has accepted such appointment. Termination of the Custodial Account shall be effected by distributing to Participant all assets of the Custodial Account in a lump-sum payment in cash or Shares, at the sole discretion of Custodian, subject to Custodian's ’s right to reserve funds as described in Article XISection 11.1.