Common use of Termination of the Custodial Account Clause in Contracts

Termination of the Custodial Account. The Depositor may terminate the Custodial Account at any time upon notice to the Custodian in a manner and form acceptable to the Custodian. Upon such termination, the Custodian shall transfer the assets of the Custodial Account, reduced by the amount of any unpaid fees or expenses, to the custodian or trustee of another SIMPLE-XXX (within the meaning of Section 408(p) of the Code) or if the “two-year period” has elapsed, to another XXX designated by the Depositor, as described in Article VIII, Section 9. The Custodian shall not be liable for losses arising from the acts, omis- sions, delays, or other inaction of any such transferee custodian or trustee. If notice of the Depositor’s intention to terminate the Custodial Account is received by the Custodian and the Depositor has not designated a transferee custodian or trustee for the assets in the Account, then the Account, reduced by any unpaid fees or expenses, will be distributed to the Depositor (or, following the death of the Depositor, the Beneficiary).

Termination of the Custodial Account. The Depositor may terminate the Custodial Account at any time upon notice to the Custodian in a manner and form acceptable to the Custodian. Upon such termination, the Custodian shall transfer the assets of the Custodial Account, reduced by the amount of any unpaid fees or expenses, to the custodian or trustee of another SIMPLE-SIMPLE- XXX (within the meaning of Section 408(p) of the Code) or if the “two-year period” period has elapsed, to another XXX designated by the Depositor, as described in Article VIII, Section 9. The Custodian shall not be liable for losses arising from the acts, omis- sionsomissions, delays, or other inaction of any such transferee custodian or trustee. If notice of the Depositor’s intention to terminate the Custodial Account is received by the Custodian and the Depositor has not designated a transferee custodian or trustee for the assets in the Account, then the Account, reduced by any unpaid fees or expenses, will be distributed to the Depositor (or, following the death of the Depositor, the Beneficiary).

Termination of the Custodial Account. The Depositor may terminate the Custodial Account at any time upon notice to the Custodian in a manner and form acceptable to the Custodian. Upon such termination, the Custodian shall transfer the assets of the Custodial Account, reduced by the amount of any unpaid fees or expenses, to the custodian or trustee of another SIMPLE-XXX SIMPLE- IRA (within the meaning of Section 408(p) of the Code) or if the “two-year period” period has elapsed, to another XXX IRA designated by the Depositor, as described in Article VIII, Section 9. The Custodian shall not be liable for losses arising from the acts, omis- sionsomissions, delays, or other inaction of any such transferee custodian or trustee. If notice of the Depositor’s intention to terminate the Custodial Account is received by the Custodian and the Depositor has not designated a transferee custodian or trustee for the assets in the Account, then the Account, reduced by any unpaid fees or expenses, will be distributed to the Depositor (or, following the death of the Depositor, the Beneficiary).

Termination of the Custodial Account. The Depositor may terminate the Custodial Account at any time upon notice to the Custodian in a manner and form acceptable to the Custodian. Upon such termination, termination the Custodian shall transfer the assets of the Custodial Accountaccount, reduced by the amount of any unpaid fees or expenses, to the custodian custodial or trustee of another SIMPLE-XXX individual retirement account (within the meaning of Section 408(p) 408 of the Code) or if the “two-year period” has elapsed, to another XXX other retirement plan designated by the Depositor, as described in Article VIII, Section 910. The Custodian shall not be liable for losses arising from the acts, omis- sionsomissions, delays, delays or other inaction of any such transferee custodian or trustee. If notice of the Depositor’s 's intention to terminate the Custodial Account account is received by the Custodian and the Depositor has had not designated a transferee custodian or trustee for the assets in the Account, then the Account, reduced by any unpaid fees or expenses, will be distributed to the Depositor (or, following the death of the Depositor, the Beneficiary).