Common use of Transfers from the Plan Clause in Contracts

Transfers from the Plan. The Planholder may at any time give the Trustee instructions, together with all information necessary for the continuance of the Fund, to transfer all or part of the Fund to another carrier of a registered retirement income fund of the Planholder, provided that the Trustee shall retain an amount equal to the lesser of: (a) the fair market value of such portion of the Fund as would, if the fair market value does not decline after the transfer, be sufficient to ensure that the minimum amount under the Fund for the year in which the transfer is made may be paid to the Planholder in the year, and (b) the fair market value of the Fund. In the case where the Planholder transfers the Plan to another financial institution, or to another line of business within BMO, the Planholder is solely responsible for ensuring the new Agent is aware of any designation of beneficiaries. Further, when the minimum payment amount is determined based on the age of the Planholder’s spouse, the Planholder is solely responsible for ensuring the new agent is aware of this election.

Transfers from the Plan. The Planholder may at any time give the Trustee instructions, together with all information informa- tion necessary for the continuance of the Fund, to transfer all or part of the Fund to another carrier of a registered retirement retire- ment income fund of the Planholder, provided that the Trustee shall retain an amount equal to the lesser of: (a) the fair market value of such portion of the Fund as would, if the fair market value does not decline after the transfer, be sufficient to ensure that the minimum amount under the Fund for the year in which the transfer is made may be paid to the Planholder in the year, and (b) the fair market value of the Fund. In the case where the Planholder transfers the Plan to another financial institution, or to another line of business within BMO, the Planholder is solely responsible for ensuring the new Agent is aware of any designation of beneficiaries. Further, when the minimum payment amount is determined based on the age of the Planholder’s spouse, the Planholder is solely responsible for ensuring the new agent is aware of this election.

Transfers from the Plan. The Planholder may at any time give the Trustee instructions, together with all information informa- tion necessary for the continuance of the FundPlan, to transfer all or part of the Fund to another carrier of a registered retirement retire- ment income fund of the Planholder, provided that the Trustee shall retain an amount equal to the lesser of: (a) the fair market value of such portion of the Fund as would, if the fair market value does not decline after the transfer, be sufficient to ensure that the minimum amount under the Fund Plan for the year in which the transfer is made may be paid to the Planholder in the year, and (b) the fair market value of the Fund. In the case where the Planholder transfers the Plan to another financial institution, or to another line of business within BMO, the Planholder is solely responsible for ensuring the new Agent is aware of any designation of beneficiaries. Further, when the minimum payment amount is determined based on the age of the Planholder’s spouse, the Planholder is solely responsible for ensuring the new agent is aware of this election.

Transfers from the Plan. The Planholder may at any time give the Trustee instructions, together with all withall information necessary for the continuance of the Fund, to transfer all or part of the Fund to another carrier of a registered retirement income fund of the Planholder, provided that the Trustee shall retain an amount equal to the lesser of: (a) the fair market value of such portion of the Fund as would, if the fair market value does not decline after the transfer, be sufficient to ensure that the minimum amount under the Fund for the year in which the transfer is made may be paid to the Planholder in the year, and (b) the fair market value of the Fund. In the case where the Planholder transfers the Plan to another financial institution, or to another line of business within BMO, the Planholder is solely responsible for ensuring the new Agent is aware of any designation of beneficiaries. Further, when the minimum payment amount is determined based on the age of the Planholder’s spouse, the Planholder is solely responsible for ensuring the new agent is aware of this electionthiselection.