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

Termination of Agreement, Resignation, or Removal of the Custodian. You may terminate this agreement at any time by giving written notice to the TPA. If this agreement is terminated by you, the Custodian may charge to your HSA an amount of money necessary to cover any associated costs pertaining to terminating this agreement. The Custodian may resign and close your HSA for any reason or no reason, effective thirty (30) days after it provides written notice of its resignation to you. Upon receipt of that notice, you must make arrangements to transfer your HSA to another financial organization. In some cases, and in its sole discretion, the Custodian may permit you to reinstate your HSA. If you do not reinstate your HSA or complete a transfer of your HSA within thirty (30) days from the date the Custodian mails the notice to you, the Custodian has the right to transfer your HSA assets to a qualified successor HSA custodian or trustee that it chooses in its sole discretion, or it may pay your HSA to you in a single sum. The Custodian shall not be liable for any actions or failures to act on the part of any successor custodian or trustee, nor for any tax consequences you may incur that result from the transfer or distribution of your assets pursuant to this section.

Termination of Agreement, Resignation, or Removal of the Custodian. You may terminate this agreement Agreement at any time by giving written notice to the TPA. If this agreement Agreement is terminated by you, the Custodian TPA may charge to your HSA an amount of money necessary to cover any associated costs pertaining to terminating this agreementAgreement. The Custodian TPA may resign and close your HSA for any reason or no reason, effective thirty (30) days after it provides written notice of its resignation to youyou and TPA’s notice shall further serve as notice of resignation by the Custodian to be effective on the same date. Upon receipt of that notice, you must make arrangements to transfer your HSA to another financial organization. In some cases, and in its sole discretion, the Custodian TPA may permit you to reinstate your HSA. If you do not reinstate your HSA or complete a transfer of your HSA within thirty (30) days from the date the Custodian TPA mails the notice to you, the TPA and the Custodian has have the right to transfer your HSA assets to a qualified successor HSA custodian or trustee that it TPA chooses in its sole discretion, or it may pay your HSA to you in a single sum. The Neither the TPA nor the Custodian shall not be liable for any actions or failures to act on the part of any successor custodian or trustee, nor for any tax consequences you may incur that result from the transfer or distribution of your assets pursuant to this section.