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. 4. AFTER THE CUSTODIAN HAS transferred the custodial account assets (including any reserve balance as contemplated above) to the successor custodian, the Custodian shall be relieved of all further liability with respect to this Agreement, the custodial account and the assets thereof.