Common use of Termination by the Depositor Clause in Contracts

Termination by the Depositor. A Depositor may terminate this Agreement and Custodial Account at any time by delivering to the Custodian either a written notice of such termination or by arranging for a transfer of the assets held in his or her Custodial Account to a Custodial Account held by an alternate custodian or trustee in his or her name or the name of his or her former spouse as described in section 3 of this Article VIII. Upon receipt of such notice of termination or transfer, the Custodian shall as soon as administratively feasible distribute the assets held in the Depositor’s Custodial Account to the Depositor if requested pursuant to section 5 of this Article VIII or transfer such assets to a successor trustee or custodian, whichever is applicable and in accordance with the written instructions submitted to the Custodian. The Custodian shall follow such instructions without liability and without any duty or obligation to investigate, inquire or ascertain if such termination and payment is proper under the provisions of the Code and/or this Custodial Agreement.

Termination by the Depositor. A Depositor may terminate this Agreement and Xxxx Custodial Account at any time by delivering to the Custodian either a written notice of such termination or by arranging for a transfer of the assets held in his or her Xxxx Custodial Account to a Custodial Account held by an alternate custodian or trustee in his or her name or the name of his or her former spouse as described in section 3 of this Article VIIIIX. Upon receipt of such notice of termination or transfer, the Custodian shall as soon as administratively feasible distribute the assets held in the Depositor’s Custodial Account to the Depositor if requested pursuant to section 5 of this Article VIII IX or transfer such assets to a successor trustee or custodian, whichever is applicable and in accordance with the written instructions submitted to the Custodian. The Custodian shall follow such instructions without liability and without any duty or obligation to investigate, inquire or ascertain if such termination and payment is proper under the provisions of the Code and/or this Custodial Agreement.

Termination by the Depositor. A Depositor may terminate this Agreement and Custodial Account at any time by delivering to the Custodian either a written notice of such termination or by arranging for a transfer of the assets held in his or her Custodial Account to a Custodial Account held by an alternate custodian or trustee in his or her name or the name of his or her former spouse as described in section 3 a direct transfer of this Article VIIIassets to a trustee or custodian of another Individual Retirement Account or Annuity. Upon receipt of such notice of termination or transfer, the Custodian shall as soon as administratively feasible distribute the assets held in the Depositor’s Custodial Account to the Depositor if requested pursuant to section 5 of this Article VIII or transfer such assets to a successor trustee or custodian, whichever is applicable and in accordance with the written instructions submitted to the Custodian. The Custodian shall follow such instructions without liability and without any duty or obligation to investigate, inquire or ascertain if such termination and payment is proper under the provisions of the Code and/or this Custodial Agreement.