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 party may terminate this agreement Agreement at any time by giving written notice to the otherother or in another manner and form acceptable to us. 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 Xxxx XXX to another financial organization. If the responsible individual does you do not complete a transfer of the Xxxxxxxxx ESA your Xxxx XXX within 30 days from the date the custodian sends we send the notice to the responsible individualyou, the we may, but shall not be required to, appoint a successor custodian has that we choose in our sole discretion. Upon any such successor’s acceptance of appointment, we shall have the right to transfer the Xxxxxxxxx ESA your Xxxx XXX assets to a such successor Xxxxxxxxx ESA trustee or custodian that the custodian chooses in its sole discretioncustodian, or the custodian we may pay the Xxxxxxxxx ESA balance distribute your Xxxx XXX assets to the designated beneficiary you in a single sum. The custodian will We shall 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, nor for any losses arising out of such. If this agreement 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 one or more of the following. : • Any fees, 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 If the custodian is a nonbank custodian 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 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 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 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 Agreement at any time by giving written notice to the other. The custodian We can resign as custodian Custodian at any time effective 30 days after sending we mail 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 organization. If the responsible individual does you do not complete a transfer of the Xxxxxxxxx ESA your Xxxx XXX within 30 days from the date the custodian sends we mail the notice to the responsible individualyou, the custodian has we have the right to transfer the Xxxxxxxxx ESA your Xxxx XXX assets to a successor Xxxxxxxxx ESA Xxxx XXX custodian or 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 Xxxx XXX to the designated beneficiary you in a single sum. 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. If this agreement 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 any fees, expenses, expenses or taxes chargeable against the Xxxxxxxxx ESA your Xxxx XXX; • Any any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in the Xxxxxxxxx ESA your Xxxx XXX. If the custodian is a nonbank custodian 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 or custodian. 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 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. Either the custodian Custodian or the responsible individual Responsible Individual may terminate this agreement at any time by giving written notice to the other. The custodian Custodian can resign as custodian Custodian at any time effective 30 days after sending mailing written notice of its resignation to the responsible individualResponsible Individual. Upon receipt of that notice, the responsible individual Responsible Individual must make arrangements to transfer the Xxxxxxxxx ESA to another financial organization. If the responsible individual Responsible Individual does not complete a transfer of the Xxxxxxxxx ESA within 30 days from the date the custodian sends Custodian mails the notice to the responsible individualRespon- sible Individual, the custodian Custodian has the right to transfer the Xxxxxxxxx ESA assets to a successor Xxxxxxxxx ESA trustee or custodian that the custodian Custodian chooses in its sole discretion, discretion or the custodian Custodian may pay the Xxxxxxxxx ESA balance to the designated beneficiary Designated Beneficiary 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 or custodian, custodian nor for any tax consequences conse- quences the designated beneficiary 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 Custodian may charge hold back from 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 ESA; • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in the Xxxxxxxxx ESA ESA. If the custodian Custodian is a nonbank custodian required to comply with Regulations section Section 1.408-2(e) and fails to do so or the custodian is 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 to substitute another trustee or custodian. The custodian Custodian may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA to the designated beneficiary Desig- nated 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 time. If we resign, Xxxxx-Xxxxxxxx Capital, LLC (“K- M Capital”) may designate and appoint a successor custodian within 90 days after sending written we provide them with notice of its resignation to the responsible individualour resignation. Upon If K-M Capital does not designate a successor custodian within 90 days after receipt of that notice, the responsible individual then we will mail written notice to you of our resignation. Effective 30 days after we mail written notice of our resignation to you, you must make arrangements to transfer the Xxxxxxxxx ESA your Xxxx XXX to another financial organization. If the responsible individual does you are required to transfer your IRA to another financial organization and do not complete a transfer of the Xxxxxxxxx ESA your 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 Xxxx XXX assets to a successor Xxxxxxxxx ESA 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 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 K-M Capital or 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. EXT-KM-MDPMGI-00 0815 | 13 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 one or more of the following. • Any fees, 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 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 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(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 written notice to the other. The custodian We can resign as custodian at any time effective 30 time. If we resign, Xxxxx-Xxxxxxxx Capital, LLC (“K- M Capital”) may designate and appoint a successor custodian within 90 days after sending written we provide them with notice of its resignation to the responsible individualour resignation. Upon If K-M Capital does not designate a successor custodian within 90 days after receipt of that notice, the responsible individual then we will mail written notice to you of our resignation. Effective 30 days after we mail written notice of our resignation to you, you must make arrangements to transfer the Xxxxxxxxx ESA your Xxxx XXX to another financial organization. If the responsible individual does you are required to transfer your XXX to another financial organization and do not complete a transfer of the Xxxxxxxxx ESA your 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 Xxxx XXX assets to a successor Xxxxxxxxx ESA 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 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 K-M Capital or 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. EXT-KM-MDMGI-00 0815 | 13 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 one or more of the following. • Any fees, 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 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 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.

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 otherother or in another manner and form acceptable to us. 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 Xxxx XXX to another financial organization. If the responsible individual does you do not complete a transfer of the Xxxxxxxxx ESA your Xxxx XXX within 30 days from the date the custodian sends we send the notice to the responsible individualyou, the we may, but shall not be required to, appoint a successor custodian has that we choose in our sole discretion. Upon any such successor's acceptance of appointment, we shall have the right to transfer the Xxxxxxxxx ESA your Xxxx XXX assets to a such successor Xxxxxxxxx ESA trustee or custodian that the custodian chooses in its sole discretioncustodian, or the custodian we may pay the Xxxxxxxxx ESA balance distribute your Xxxx XXX assets to the designated beneficiary you in a single sum. The custodian will We shall 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, nor for any losses arising out of such. If this agreement 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 one or more of the following. : • Any fees, 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 If the custodian is a nonbank custodian 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 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 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.