Common use of Transfers and Rollovers Clause in Contracts

Transfers and Rollovers. The Custodian may accept transfers and rollovers to this Custodial Account from other eligible IRAs and employer plans. The Depositor represents and warrants that neither the Custodian nor underlying investment vehicles nor their service providers have given or will give any “investment advice” such as “investment recommendations or suggestions” to the Depositor concerning any rollover, that the Depositor in making its own investment decisions regarding any rollover, and that only eligible transfers and rollovers will be made to the Custodial Account. The Custodian reserves the right to refuse any transfer or rollover and is under no obligation to accept certain investments or property it cannot legally hold or determines is an ineligible investment in the Custodial Account. The Custodian will duly act on written instructions from the Depositor received in a form and manner acceptable to the Custodian to transfer the Custodial Account to a successor trustee or custodian. The Custodian is not liable for any actions or inactions by any predecessor or successor trustee or custodian or for any investment losses resulting from the timing of or sale of assets resulting from the transfer or rollover.