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. (b) The Custodian has the unilateral right to terminate the Custodial Account when the assets of the Custodial Account fall below the prescribed requirement as determined by the Custodian. 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 of set-off under Section 8.2.

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. (b) The Custodian has the unilateral right to terminate the Custodial Account when the assets of the Custodial Account fall below the prescribed requirement as determined by the Custodian. 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 of set-off under Section 8.2.

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. (b) The Custodian has the unilateral right to terminate the Custodial Account when the assets of the Custodial Account fall below the prescribed requirement as determined by the Custodian. 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 of set-off under Section 8.2.