Unclaimed Balances Sample Clauses

Unclaimed Balances. The property of the Account may be deemed to be abandoned or unclaimed as per the definitions of any applicable provincial legislation. In addition to any timelines prescribed by legislation, the Trustee may, at its sole discretion, deem an account to be abandoned and any property to be unclaimed. The Trustee may, after making reasonable efforts to contact the Account Holder, withdraw the abandoned amounts and may, in its discretion, liquidate part or all of the abandoned property. Any such liquidation shall be made at such prices as the Trustee may in its discretion determine to be the fair market value of the property at the time. In the case of investments which are illiquid or which have no readily ascertainable market value, the Trustee may in its discretion sell the investments to the Agent for the Agent’s own account, at such prices as the Trustee considers fair and proper. The property, and/or the proceeds of liquidation may be remitted to the appropriate government agency. In the alternative, the Trustee may, in its sole discretion, allocate the property or proceeds of liquidation to a pooled account for dormant amounts. The terms, jurisdiction, and other details of this account will be determined by the Trustee, and in the Trustee’s sole discretion. The Trustee may also, in its sole discretion, allocate the property or proceeds of liquidation to an existing account in the Account Holder’s name, or to a new account which would be opened on the Account Holder’s behalf. The Account Holder may at any time, or as prescribed in any applicable legislation, instruct the Trustee to return the property/proceeds of liquidation to the Account Holder’s control and/or possession. The Trustee and/or the Agent may charge reasonable expenses incurred in the administration of this process as set out in section 21, hereto. As part of the Trustee’s program to manage unclaimed property, the Trustee may engage a third party in order to contact the Account Holder. The Account ▇▇▇▇▇▇ authorizes the Trustee to take this action and share the personal information of the Account Holder reasonably required to contact the Account Holder.