Transfer to Successor Trustee. Every successor trustee shall have all the rights, title, powers, privileges and duties conferred on or imposed upon the original trustee, without any conveyance or transfer. All right, title and interest to the trust property shall immediately vest in the successor trustee, upon the successor trustee executing a document accepting the office. The prior trustee shall, without warranty, transfer the existing trust property to the possession and control of the successor trustee. The successor trustee shall not have any duty to examine the records or actions of any former trustee, and shall not be liable for the consequences of any act or failure to act of any former trustee.
Transfer to Successor Trustee. Upon settlement of the Trustee's account, the Trustee shall transfer to the successor Trustee the Trust Fund as it is then constituted and true copies of its records relating to the Trust Fund. Upon the completion of this transfer, the Trustee's responsibilities under this Trust Agreement shall cease and the Trustee shall be discharged from further accountability for all matters embraced in its settlement; provided, however, that the Trustee executes and delivers all documents and written instruments which are necessary to transfer and convey the right, title and interest in the Trust Fund assets, and all rights and privileges with respect to such assets, to the successor Trustee. Notwithstanding the foregoing, the Trustee is authorized to reserve such amount as it may deem advisable for payment of its fees and expenses in connection with the settlement of its account. Any balance of such reserve remaining after the payment of such fees and expenses shall be paid over to the successor Trustee. Notwithstanding any provision of the Trust Agreement to the contrary, the Trustee may invest and reinvest such reserves in any investment or investment vehicle appropriate for the temporary investment of cash reserves of trust.
Transfer to Successor Trustee. Upon resignation or removal of the Trustee, the Employer shall appoint a successor Trustee who shall then succeed to all the powers and duties given to the Trustee by this Trust Agreement. The terminating Trustee shall transfer all property of the Trust Fund then held by it to such successor Trustee. The terminating Trustee may require as a condition of making such transfer that the successor Trustee present evidence that any bonding requirement under ERISA section 412 has been met and/or may require that the Employer provide a writing indemnifying the Trustee against any losses arising from the replacement of the Trustee. If either party has given notice of termination as provided under this Trust Agreement, and upon the expiration of the advance notice period no other successor Trustee has been appointed and has accepted such appointment, this provision shall serve as (i) notice of appointment of the chief executive officer of the Employer as Trustee and (ii) as acceptance by that person of that appointment. The Trustee is authorized to reserve such sum of money as it may deem advisable for payment of its fees and expenses in connection with the settlement of its accounts or other proper Trust expenses, and any balance of such reserve remaining after the payment of such fees and expenses shall be paid to the successor Trustee. Upon completion of the transfer, the Trustee will be discharged from all further liability and accountability for all matters relating to the Trust Fund. If any property of the Trust Fund in the Trustee's custody is not deemed suitable for transfer, the Employer will direct the successor Trustee to appoint the resigning or removed Trustee as custodian to retain possession of such property on behalf of the successor Trustee until the transfer may be made.
Transfer to Successor Trustee. (a) Upon settlement of the Trustee's account, the Trustee will transfer to the successor trustee the Trust Fund as it is then constituted and true copies of its records relating to the Trust Fund. Upon the completion of this transfer, the Trustee's responsibilities under this Trust Agreement will cease, and the Trustee will be discharged from further accountability for all matters embraced in its settlement; provided, however, that the Trustee executes and delivers all documents and written instruments which are necessary to transfer and convey the right, title and interest in the Trust Fund assets, and all rights and privileges with respect to such assets, to the successor trustee.
Transfer to Successor Trustee. Every successor Trustee appointed hereunder shall execute, acknowledge, and deliver to its predecessor, the Issuer, an instrument in writing accepting such appointment hereunder, and thereupon such successor Trustee, without any further act, deed, or conveyance, shall become fully vested with all the estates, rights, powers, trusts, duties, and obligations hereunder of its predecessor; but such predecessor shall nevertheless, on the written request of the Issuer, execute and deliver an instrument transferring to such successor Trustee all of the estates, rights, powers, and trusts of such predecessor hereunder; and every predecessor Trustee shall deliver all securities and money held by it to its successor; provided, however, that before any such delivery is required or made, all reasonable, customary, and legally accrued fees, advances, and expenses of such predecessor Trustee shall be paid in full. Should any deed, assignment, or instrument in writing from the Issuer be required by any successor Trustee for more fully and certainly vesting in such Trustee the estates, rights, powers, and duties hereby vested or intended to be vested in the predecessor Trustee, any and all such deeds, assignments, and instruments in writing shall, on request, be executed, acknowledged, and delivered by the Issuer.
Transfer to Successor Trustee. In the event that the Trustee resigns or is removed in accordance with the terms of this Article 3, the Settlor, shall forthwith appoint in writing a successor Trustee. Upon the appointment of a successor Trustee, all of the rights, estate and interest in the Trust Assets shall vest in the successor Trustee. Upon the written request of the Settlor, the retiring Trustee shall execute and deliver any written instruments which may be desirable and shall do all such other acts and things necessary or desirable for the continued orderly administration of the Trust and the Trust Assets.
Transfer to Successor Trustee. After the date Notice of Termination is given and as promptly as practicable after Northern Trust receives a written request from ABA RF and no later than the Transfer Completion Date, Northern Trust shall provide to a successor recordkeeper, (a) two (2) copies of all Program Data and Records maintained electronically and established and maintained pursuant to this Agreement in their then-current form and (b) the then-current Program Data and Records. Such Program Data and Records shall be timely and accurate and shall be provided in the format and layout used by Northern Trust, with complete and accurate descriptions and explanations of the fields, formats and layouts of the computerized Program Data and Records.
Transfer to Successor Trustee. Upon settlement of IDS Trust's account, IDS Trust will transfer to the successor trustee the Trust fund as it is then constituted and true copies of its records relating to the Trust fund. Upon the completion of this transfer, IDS Trust's responsibilities under this Trust Agreement will cease and IDS Trust will be discharged from further accountability for all matters embraced in its settlement, provided, however, that IDS Trust executes and delivers all documents and written instruments which are necessary to transfer and convey the right, title and interest in the Trust fund assets, to the successor trustee. Notwithstanding the foregoing, IDS Trust is authorized to reserve such amount as it may deem advisable for payment of its fees and expenses in connection with the settlement of its account. Any balance of such reserve remaining after the payment of such fees and expenses will be paid over to the successor trustee. Notwithstanding any provision of the Trust Agreement to the contrary, IDS Trust may invest and reinvest such reserves in any investment or investment vehicle appropriate for the temporary investment of cash reserves of trusts.
Transfer to Successor Trustee. Upon settlement of the Trustee's account, the Trustee will transfer to the successor trustee the Trust Fund as it is then constituted and true copies of its records relevant to the Trust Fund. Upon the transfer of Trust Fund assets, the Trustee's responsibilities under this Agreement will cease and the Trustee will be discharged from further accountability for all matters embraced in its settlement with respect to those assets, provided, however, that the Trustee executes and delivers the documents and written instruments which are necessary to transfer and convey the right, title and interest in such Trust Fund assets, to the successor trustee. If fees and expenses are outstanding on the settlement date, the Trustee is authorized to reserve assets in an amount equal to any fees or expenses outstanding.
Transfer to Successor Trustee. Upon acceptance of the Trustee office in writing, and subject to the limitations set forth in paragraphs 11.2, 11.3, 11.4, and 11.5 of this Article 11, a successor Trustee shall succeed to all rights, powers, and duties of the Trustee without any conveyance or transfer. All right, title, and interest in the trust property shall immediately vest in the successor Trustee upon execution of the written acceptance of the office. The prior Trustee shall execute any documents deemed advisable by the successor Trustee to acknowledge transfer of the existing trust property to the successor Trustee, and shall immediately transfer any property to the possession and control of the successor Trustee without warranty. A successor Trustee shall not have any duty to examine the records or actions of any former Trustee and shall not be liable for the consequences of any act or failure to act of any former Trustee.
