Common use of Termination of Agreement, Resignation, or Removal of Custodian Clause in Contracts

Termination of Agreement, Resignation, or Removal of Custodian. Either the custodian or the responsible individual may terminate this agreement at any time by giving written notice to the other. The custodian can resign as custodian at any time effective 30 days after sending written notice of its resignation to the responsible individual. Upon receipt of that notice, the responsible individual must make arrangements to transfer the Xxxxxxxxx ESA to another financial organization. If the responsible individual does not complete a transfer of the Xxxxxxxxx ESA within 30 days from the date the custodian sends the notice to the responsible individual, the custodian has the right to transfer the Xxxxxxxxx ESA assets to a successor Xxxxxxxxx ESA trustee or custodian that the custodian chooses in its sole discretion, or the custodian may pay the Xxxxxxxxx ESA balance to the designated beneficiary in a single sum. The custodian will not be liable for any actions or failures to act on the part of any successor trustee or custodian, nor for any tax consequences the designated beneficiary may incur that result from the transfer or distribution of the Xxxxxxxxx ESA assets pursuant to this section. If this agreement is terminated, the custodian may charge the Xxxxxxxxx ESA a reasonable amount of money that it believes is necessary to cover any associated costs, including but not limited to one or more of the following. • Any fees, expenses, or taxes chargeable against the Xxxxxxxxx ESA • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in the Xxxxxxxxx ESA If the custodian is a nonbank custodian required to comply with Regulations section 1.408-2(e) and fails to do so or the custodian is not keeping the records, making the returns or sending the statements as are required by forms or regulations, the IRS may require the custodian to substitute another trustee or custodian. The custodian may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA to the designated beneficiary in cash or property if the balance of this Xxxxxxxxx ESA drops below the minimum balance required under the applicable investment or policy established.

Termination of Agreement, Resignation, or Removal of Custodian. Either the custodian or the responsible individual may terminate this agreement at any time by giving written notice to the other. The custodian can resign as custodian at any time effective 30 days after sending written notice of its resignation to the responsible individual. Upon receipt of that notice, the responsible individual must make arrangements to transfer the Xxxxxxxxx ESA to another financial organization. If the responsible individual does not complete a transfer of the Xxxxxxxxx ESA within 30 days from the date the custodian sends the notice to the responsible individual, the custodian has the right to transfer the Xxxxxxxxx ESA assets to a successor Xxxxxxxxx ESA trustee or custodian that the custodian chooses in its sole discretion, or the custodian may pay the Xxxxxxxxx ESA balance to the designated beneficiary in a single sum. The custodian will not be liable for any actions or failures to act on the part of any successor trustee or custodian, nor for any tax consequences the designated beneficiary may incur that result from the transfer or distribution of the Xxxxxxxxx ESA assets pursuant to this section. If this agreement is terminated, the custodian may charge the Xxxxxxxxx ESA a reasonable amount of money that it believes is necessary to cover any associated costs, including but not limited to one or more of the following. • Any fees, expenses, or taxes chargeable against the Xxxxxxxxx ESA • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in the Xxxxxxxxx ESA If the custodian is a nonbank custodian required to comply with Regulations section 1.408-2(e) and fails to do so or the custodian is not keeping the records, making the returns or sending the statements as are required by forms or regulations, the IRS may require the custodian to substitute another trustee or custodian. The custodian may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA to the designated beneficiary in cash or property if the balance of this Xxxxxxxxx ESA drops below the minimum balance required under the applicable investment or policy established.

Termination of Agreement, Resignation, or Removal of Custodian. Either the custodian or the responsible individual party may terminate this agreement at any time by giving written notice to the other. The custodian We can resign as custodian at any time effective 30 days after sending we send written notice of its our resignation to the responsible individualyou. Upon receipt of that notice, the responsible individual you must make arrangements to transfer the Xxxxxxxxx ESA your inherited Xxxx XXX to another financial organization. If the responsible individual does you do not complete a transfer of the Xxxxxxxxx ESA your inherited Xxxx XXX within 30 days from the date the custodian sends we send the notice to the responsible individualyou, the custodian has we have the right to transfer the Xxxxxxxxx ESA your inherited Xxxx XXX assets to a successor Xxxxxxxxx ESA inherited Xxxx XXX trustee or custodian that the custodian chooses we choose in its our sole discretion, or the custodian we may pay the Xxxxxxxxx ESA balance your inherited Xxxx XXX to the designated beneficiary you in a single sum. The custodian We will not be liable for any actions or failures to act on the part of any successor trustee or custodian, nor for any tax consequences the designated beneficiary you may incur that result from the transfer or distribution of the Xxxxxxxxx ESA your assets pursuant to this section. If this agreement is terminated, the custodian we may charge the Xxxxxxxxx ESA to your inherited Xxxx XXX a reasonable amount of money that it believes we believe is necessary to cover any associated costs, including but not limited to one or more of the following. • Any fees, expenses, or taxes chargeable against the Xxxxxxxxx ESA your inherited Xxxx XXX • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in the Xxxxxxxxx ESA your inherited Xxxx XXX If the custodian is we are a nonbank custodian required to comply with Regulations section 1.408-2(e) and fails we fail to do so or the custodian is we are not keeping the records, making the returns returns, or sending the statements as are required by forms or regulations, the IRS may require the custodian us to substitute another trustee or custodian. The custodian We may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA your inherited Xxxx XXX to the designated beneficiary you in cash or property if the balance of this Xxxxxxxxx ESA your inherited Xxxx XXX drops below the minimum balance required under the applicable investment or policy established.

Termination of Agreement, Resignation, or Removal of Custodian. Either the custodian or the responsible individual party may terminate this agreement at any time by giving written notice to the other. The custodian We can resign as custodian at any time effective 30 days after sending we send written notice of its our resignation to the responsible individualyou. Upon receipt of that notice, the responsible individual you must make arrangements to transfer the Xxxxxxxxx ESA your inherited Xxxx XXX to another financial organization. If the responsible individual does you do not complete a transfer of the Xxxxxxxxx ESA your inherited Xxxx XXX within 30 days from the date the custodian sends we send the notice to the responsible individualyou, the custodian has we have the right to transfer the Xxxxxxxxx ESA your inherited Xxxx XXX assets to a successor Xxxxxxxxx ESA inherited Xxxx XXX trustee or custodian that the custodian chooses we choose in its our sole discretion, or the custodian we may pay the Xxxxxxxxx ESA balance your inherited Xxxx XXX to the designated beneficiary you in a single sum. The custodian We will not be liable for any actions or failures to act on the part of any successor trustee or custodian, nor for any tax consequences the designated beneficiary you may incur that result from the transfer or distribution of the Xxxxxxxxx ESA your assets pursuant to this section. If this agreement is terminated, the custodian we may charge the Xxxxxxxxx ESA to your inherited Xxxx XXX a reasonable amount of money that it believes we believe is necessary to cover any associated costs, including but not limited to one or more of the following. • Any fees, expenses, or taxes chargeable against the Xxxxxxxxx ESA your inherited Xxxx XXX • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in the Xxxxxxxxx ESA your inherited Xxxx XXX If the custodian is we are a nonbank custodian required to comply with Regulations section 1.408-2(e1.408‐2(e) and fails we fail to do so or the custodian is we are not keeping the records, making the returns returns, or sending the statements as are required by forms or regulations, the IRS may require the custodian us to substitute another trustee or custodian. The custodian We may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA your inherited Xxxx XXX to the designated beneficiary you in cash or property if the balance of this Xxxxxxxxx ESA your inherited Xxxx XXX drops below the minimum balance required under the applicable investment or policy established.

Termination of Agreement, Resignation, or Removal of Custodian. 16.1 Either the custodian or the responsible individual party may terminate this agreement Agreement at any time by giving written notice to the otherother party. The We may resign and appoint a successor custodian can resign as to serve under this Agreement or under another governing agreement selected by the successor custodian by giving you written notice at any time effective least 30 days after sending written notice of its resignation prior to the responsible individualeffective date of such resignation and appointment, which notice shall also include or be provided under separate cover a copy of such other governing instrument, if applicable, and the related disclosure statement. Upon receipt of that notice, the responsible individual must make arrangements to transfer the Xxxxxxxxx ESA to another financial organization. If the responsible individual does not complete a transfer of the Xxxxxxxxx ESA within You shall then have 30 days from the date the custodian sends the of such notice to either request a distribution of the responsible individualentire account balance or designate a different successor custodian and notify us of such designation. If you do not request distribution of the account balance or notify us of the designation of a different successor custodian within such 30 day period, you shall be deemed to have consented to the appointment of the successor custodian has and the right terms of any new governing instrument, and neither us nor the successor shall be required to execute any written document to complete the transfer of the Xxxxxxxxx ESA assets account to a the successor Xxxxxxxxx ESA trustee or custodian that the custodian chooses in its sole discretion, or the custodian. The successor custodian may pay the Xxxxxxxxx ESA balance rely on any information, including beneficiary designations, previously provided by you to the designated beneficiary in a single sumus. The custodian will We shall not be liable for any actions or failures to act on the part of any successor trustee custodian or custodiantrustee, nor for any tax consequences the designated beneficiary you may incur that result from the transfer or distribution of the Xxxxxxxxx ESA your assets pursuant to this section. . 16.2 If this agreement Agreement is terminated, the custodian we may charge the Xxxxxxxxx ESA to your Xxxx XXX Account a reasonable amount of money that it believes is necessary to cover any associated costs, including but not limited to to, one or more of the following. • Any : (a) any fees, expenses, expenses or taxes chargeable against the Xxxxxxxxx ESA • Any your Xxxx XXX; and (b) any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in the Xxxxxxxxx ESA your Xxxx XXX. 16.3 After your Xxxx XXX Account with us is closed, you are responsible for ensuring that all assets previously in your Account are properly titled, registered and transferred out of our name. 16.4 If the custodian is a nonbank custodian we are required to comply with Regulations section Regulation Section 1.408-2(e) ), and fails we fail to do so so, or the custodian is we are not keeping the records, making the returns or sending the statements as are required by forms or regulationsRegulations, the IRS may may, after notifying you, require the custodian you to substitute another trustee or custodian. The custodian may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA to the designated beneficiary in cash . 16.5 If our organization changes its name, reorganizes, merges with another organization (or property if the balance of this Xxxxxxxxx ESA drops below the minimum balance required comes under the applicable investment control of any federal or policy establishedstate agency), or if our entire organization (or any portion which includes your Xxxx XXX) is bought by another organization, that organization (or agency) shall automatically become the trustee or custodian of your Xxxx XXX, but only if it is the type of organization authorized to serve as a Xxxx XXX trustee or custodian.

Termination of Agreement, Resignation, or Removal of Custodian. Either the custodian or the responsible individual party may terminate this agreement Agreement at any time by giving written notice to the other. The custodian Custodian can resign as custodian at any time effective 30 days after sending mailing written notice of its resignation to the responsible individualXXX Owner. Upon receipt of that notice, the responsible individual XXX Owner must make arrangements to transfer the Xxxxxxxxx ESA XXX to another financial organization. If the responsible individual XXX Owner does not complete a transfer of the Xxxxxxxxx ESA XXX within 30 days from the date the custodian sends Custodian mails the notice to the responsible individualXXX Owner, the custodian Custodian has the right to transfer the Xxxxxxxxx ESA assets of this XXX to a successor Xxxxxxxxx ESA XXX custodian or trustee or custodian that the custodian Custodian chooses in its sole discretion, or the custodian Custodian may pay the Xxxxxxxxx ESA balance assets of this XXX to the designated beneficiary XXX Owner in a single sum. The custodian will Custodian shall not be liable for any actions or failures to act on the part of any successor trustee custodian or custodiantrustee, nor for any tax consequences the designated beneficiary XXX Owner may incur that result from the transfer or distribution of the Xxxxxxxxx ESA XXX assets pursuant to this section. If this agreement Agreement is terminated, the custodian Custodian may charge the Xxxxxxxxx ESA this XXX a reasonable amount of money that it believes is necessary to cover any associated costs, including but not limited to to, one or more of the following. • Any : (a) any fees, expenses, expenses or taxes chargeable against the Xxxxxxxxx ESA • Any this XXX; (b) any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in the Xxxxxxxxx ESA If the custodian is a nonbank custodian required to comply with Regulations section 1.408this XXX. The non-2(e) and fails to do so or the custodian is not keeping the records, making the returns or sending the statements as are required by forms or regulations, the IRS may require the custodian to bank Custodian shall substitute another trustee or custodiancustodian if the non- bank Custodian receives notice from the Commissioner of Internal Revenue that such substitution is required because it has failed to comply with the requirements of Regulations Section 1.408-2(e). The custodian Custodian may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA the XXX to the designated beneficiary XXX Owner in cash or property if the balance of this Xxxxxxxxx ESA the XXX drops below the minimum balance required under the applicable investment or policy established.

Termination of Agreement, Resignation, or Removal of Custodian. Either the custodian or the responsible individual party may terminate this agreement Agreement at any time by giving written notice to the other. The custodian Custodian can resign as custodian at any time effective 30 days after sending mailing written notice of its resignation to the responsible individualXXX Owner. Upon receipt of that notice, the responsible individual XXX Owner must make arrangements to transfer the Xxxxxxxxx ESA XXX to another financial organization. If the responsible individual XXX Owner does not complete a transfer of the Xxxxxxxxx ESA XXX within 30 days from the date the custodian sends Custodian mails the notice to the responsible individualXXX Owner, the custodian Custodian has the right to transfer the Xxxxxxxxx ESA assets of this XXX to a successor Xxxxxxxxx ESA XXX custodian or trustee or custodian that the custodian Custodian chooses in its sole discretion, or the custodian Custodian may pay the Xxxxxxxxx ESA balance assets of this XXX to the designated beneficiary XXX Owner in a single sum. The custodian will Custodian shall not be liable for any actions or failures to act on the part of any successor trustee custodian or custodiantrustee, nor for any tax consequences the designated beneficiary XXX Owner may incur that result from the transfer or distribution of the Xxxxxxxxx ESA XXX assets pursuant to this section. If this agreement Agreement is terminated, the custodian Custodian may charge the Xxxxxxxxx ESA this XXX a reasonable amount of money that it believes is necessary to cover any associated costs, including but not limited to to, one or more of the following. • Any : (a) any fees, expenses, expenses or taxes chargeable against the Xxxxxxxxx ESA • Any this XXX; (b) any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in the Xxxxxxxxx ESA If the custodian is a nonbank custodian required to comply with Regulations section 1.408this XXX. The non-2(e) and fails to do so or the custodian is not keeping the records, making the returns or sending the statements as are required by forms or regulations, the IRS may require the custodian to bank Custodian shall substitute another trustee or custodiancustodian if the non-bank Custodian receives notice from the Commissioner of Internal Revenue that such substitution is required because it has failed to comply with the requirements of Regulations Section 1.408-2(e). The custodian Custodian may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA the XXX to the designated beneficiary XXX Owner in cash or property if the balance of this Xxxxxxxxx ESA the XXX drops below the minimum balance required under the applicable investment or policy established.

Termination of Agreement, Resignation, or Removal of Custodian. Either the custodian or the responsible individual may terminate this agreement at any time by giving written notice to the other. The custodian can resign as custodian at any time effective 30 days after sending written notice of its resignation to the responsible individual. Upon receipt of that notice, the responsible individual must make arrangements to transfer the Xxxxxxxxx ESA to another financial organization. If the responsible individual does not complete a transfer of the Xxxxxxxxx ESA within 30 days from the date the custodian sends the notice to the responsible individual, the custodian has the right to transfer the Xxxxxxxxx ESA assets to a successor Xxxxxxxxx ESA trustee or custodian that the custodian chooses in its sole discretion, or the custodian may pay the Xxxxxxxxx ESA balance to the designated beneficiary in a single sum. The custodian will not be liable for any actions or failures to act on the part of any successor trustee or custodian, nor for any tax consequences the designated beneficiary may incur that result from the transfer or distribution of the Xxxxxxxxx ESA assets pursuant to this section. If this agreement is terminated, the custodian may charge the Xxxxxxxxx ESA a reasonable amount of money that it believes is necessary to cover any associated costs, including but not limited to one or more of the following. • Any fees, expenses, or taxes chargeable against the Xxxxxxxxx ESA • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in the Xxxxxxxxx ESA If the custodian is a nonbank custodian required to comply with Regulations section 1.408-2(e) and fails to do so or the custodian is not keeping the records, making the returns or sending the statements as are required by forms or regulations, the IRS may require the custodian to substitute another trustee or custodian. Form 5305-EA under section 530 of the Internal Revenue Code. The custodian may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA to the designated beneficiary in cash or property if the balance of this Xxxxxxxxx ESA drops below the minimum balance required under the applicable investment or policy established.

Termination of Agreement, Resignation, or Removal of Custodian. Either the custodian or the responsible individual party may terminate this agreement at any time by giving providing written notice to the other. The custodian We can resign as custodian Custodian at any time effective 30 thirty (30) days after sending we send written notice of its our resignation to the responsible individualyou. Upon receipt of that notice, the responsible individual you must make arrangements to transfer the Xxxxxxxxx ESA your Xxxx XXX to another financial organizationinstitution or complete an account closure request. If the responsible individual does you do not complete a transfer or closure of the Xxxxxxxxx ESA your Xxxx XXX within 30 thirty (30) days from the date the custodian sends we send the notice to the responsible individualyou, the custodian has we have the right to transfer the Xxxxxxxxx ESA pay or distribute your Xxxx XXX assets to a successor Xxxxxxxxx ESA trustee or custodian that the custodian chooses in its sole discretion, or the custodian may pay the Xxxxxxxxx ESA balance to the designated beneficiary you in a single sumsum or assignment. The custodian We will not be liable for any actions or failures to act on the part of any successor trustee custodian or custodiantrustee, nor for any tax consequences the designated beneficiary you may incur that result from the transfer or distribution of the Xxxxxxxxx ESA your assets pursuant to this section. If this agreement is terminated, the custodian we may charge the Xxxxxxxxx ESA to your Xxxx XXX, a reasonable amount of money that it believes we believe is necessary to cover any associated costs, including but not limited to to, one or more of the following. • :  Any fees, expenses, expenses or taxes chargeable against the Xxxxxxxxx ESA • your Xxxx XXX;  Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in the Xxxxxxxxx ESA your Xxxx XXX after you Xxxx XXX account with us is closed. If the custodian is a nonbank custodian there are additional assets remaining in or subsequently credited to your Xxxx XXX account, we will endeavor to distribute or transfer such assets in accordance with your prior direction, but after offsetting any applicable administrative expenses and custodial fees (per our then current fee schedule). If we are required to comply with Regulations section 1.408-2(e) ), and fails we fail to do so so, or the custodian is we are not keeping the records, making the returns or sending the statements as are required by forms or regulationsRegulations, the IRS may may, after notifying you, require the custodian you to substitute another trustee custodian or custodiantrustee. The custodian  We may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA your Xxxx XXX to the designated beneficiary you in cash or property if the balance of this Xxxxxxxxx ESA your Xxxx XXX drops below the minimum balance required under the applicable investment or policy established.

Termination of Agreement, Resignation, or Removal of Custodian. Either the custodian or the responsible individual may terminate this agreement at any time by giving written notice to the other. The custodian can resign as custodian at any time effective 30 days after sending written notice of its resignation to the responsible individual. Upon receipt of that notice, the responsible individual must make arrangements to transfer the Xxxxxxxxx ESA to another financial organization. If the responsible individual does not complete a transfer of the Xxxxxxxxx ESA within 30 days from the date the custodian sends the notice to the responsible individual, the custodian has the right to transfer the Xxxxxxxxx ESA assets to a successor Xxxxxxxxx ESA trustee or custodian that the custodian chooses in its sole discretion, or the custodian may pay the Xxxxxxxxx ESA balance to the designated beneficiary in a single sum. The custodian will not be liable for any actions or failures to act on the part of any successor trustee or custodian, nor for any tax consequences the designated beneficiary may incur that result from the transfer or distribution of the Xxxxxxxxx ESA assets pursuant to this section. If this agreement is terminated, the custodian may charge the Xxxxxxxxx ESA a reasonable amount of money that it believes is necessary to cover any associated costs, including but not limited to one or more of the following. • Any fees, expenses, or taxes chargeable against the Xxxxxxxxx ESA • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in the Xxxxxxxxx ESA If the custodian is a nonbank custodian required to comply with Regulations section 1.408-2(e1.408‐2(e) and fails to do so or the custodian is not keeping the records, making the returns or sending the statements as are required by forms or regulations, the IRS may require the custodian to substitute another trustee or custodian. The custodian may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA to the designated beneficiary in cash or property if the balance of this Xxxxxxxxx ESA drops below the minimum balance required under the applicable investment or policy established.