Common use of THE CUSTODIAN, AND EVERY SUCCESSOR Clause in Contracts

THE CUSTODIAN, AND EVERY SUCCESSOR. CUSTODIAN appointed to serve under this Agreement, must be a bank (as defined in Section 408(n) of the Code) or such other person who qualifies with the Internal Revenue Service to serve in the manner prescribed by Code section 408(a)(2) and satisfies the Custodian, upon request, as to such qualification.