Common use of Transfer to Other RESP Clause in Contracts

Transfer to Other RESP. Subject to the Act and the Fees, upon receipt of a written request from the Subscriber, the Manager will transfer to a trust governed by another RESP not provided by the Foundation (a “Transfer”): (a) all or a portion of the assets held in the Savings Account; and (b) all or a portion of any Government Grant received by the Trustee in respect of the Beneficiary, and/or any income earned thereon, but only when such a transfer is permitted by the applicable Grant Legislation.

Transfer to Other RESP. Subject to the Act and the Fees, upon receipt of a written request from the Subscriber, the Manager will transfer to a trust governed by another RESP not provided by the Foundation (a “Transfer”): (a) all or a portion of the assets held in the Savings Account; and (b) all or a portion of any Government Grant received by the Trustee in respect of the BeneficiaryBenefciary, and/or any income earned thereon, but only when such a transfer is permitted by the applicable Grant Legislation.