XXX Accounts Sample Clauses

XXX Accounts. Prior to the Closing Date, Purchaser shall designate a successor trustee or custodian, which may be Purchaser, as to any XXX constituting a liability to be assumed by Purchaser and for which Seller acts as trustee or custodian. Seller will transfer the trusteeship or custodianship of all such IRAs to such successor trustee or custodian on the Closing Date. Seller shall be responsible for all federal, state and local income tax reporting for such accounts for the period ending on the Closing Date, and the successor trustee or custodian shall be responsible for such reporting thereafter.

XXX Accounts. Paraprofessionals shall be allowed to take advantage of the federal law concerning tax-free XXX Accounts through payroll deductions to a bank or financial institution of their choice. The Committee will request the Treasurer of the City of Xxxx to deduct and submit said sums as specified.

XXX Accounts. Not later than thirty days prior to the expected Closing Date, SELLER shall, at SELLER's expense, mail notice of SELLER's resignation as Custodian and the appointment of BUYER as the Successor Custodian, effective upon Closing, of each XXX maintained at the Offices. The notice shall include such other information that is mutually agreed upon by SELLER and BUYER.

XXX Accounts. (a) Included in the Deposit Liabilities are deposits of customers of the Branch relating to XXX accounts (which the parties acknowledge include SEP XXX accounts, SIMPLE XXX accounts and any other type of retirement account reflected in the deposit balances of the Branch) pursuant to which Seller is currently acting as custodian. (b) Within such period prior to the Closing Date as is required by applicable law or regulation, Seller will, at its sole cost and expense, notify the depositors who maintain such XXX accounts of Seller's intent to resign as custodian as of Closing and to appoint Purchaser as successor custodian and the discharge and release of Seller from all liabilities as custodian from and after the effective time of its resignation. Purchaser will accept such appointment as successor custodian, unless the customer objects in writing to such appointment or to Purchaser's master XXX agreement. It is agreed that Seller is required to notify each such depositor only once, which notification will be by means of a letter approved by Purchaser and accompanied by all appropriate forms and documents necessary to effect such replacement and release and to adopt Purchaser's master agreement. The XXX account of any customer not accepting the appointment of Purchaser and the Purchaser's master plan will not be included in the Deposit Liabilities. (c) Purchaser agrees that, with respect to the XXX accounts transferred to Purchaser pursuant to Section 1.10(b) above, Purchaser will make no payment to any such customer to satisfy the minimum distribution requirements beginning the first day of April of the year following the year in which the customer reaches age 70 1/2 until such customer provides Purchaser with a written payment instruction in a form satisfactory to Purchaser.

XXX Accounts. Employees shall be allowed to take advantage of the federal law concerning tax-free XXX Accounts through payroll deductions to a bank or financial institution of their choice. The Committee will request the Treasurer of the City of Xxxx to deduct and submit said sums as specified.

XXX Accounts. Not later than thirty days prior to the expected Closing Date, BANK ONE shall, at BANK ONE's expense, mail notice of BANK ONE's resignation as Custodian and the appointment of BUYER as the Successor Custodian, effective upon Closing, of each Individual Retirement Account maintained at the Offices. The notice shall include such other information that is mutually agreed upon by BANK ONE and BUYER.

XXX Accounts. XXX accounts are individual retirement accounts. There may be restrictions on contributions, withdrawals, and other features of the accounts according to Federal law and guidelines. Funds may be tax deductible and/or tax-deferred. We do not provide tax advice; you should consult with a qualified tax advisor regarding any funds you may have in these accounts. You may be required to sign a separate agreement upon opening these accounts. There is no joint owner on a XXX account.

XXX Accounts. This section applies to an Account that is an XXX. If the Account is an XXX, Client understands and represents to CapMgmt that: (a) the Code prohibits certain types of investments by the XXX (such as S-corp stock, life insurance contracts and collectibles); (b) neither Client, his/her spouse, nor any beneficiary may assign the Account, or use it, or any portion of it, as security for a loan or borrow from the Account, and neither Client nor any other person or institution that is acting as Client’s agent or is otherwise acting on Client’s behalf may engage in any prohibited transaction, within the meaning of Code §4975 respecting the Account, and the foregoing representation by Client will not apply to any actions taken by CapMgmt; (c) certain Investments may generate unrelated business taxable income, which Client must monitor, as it may be taxable to Client for a given tax year, and in which case Client must make filings with the Internal Revenue Service; (d) certain Investments charge redemption fees or sales charges, and these fees and charges may negatively impact the Account’s investment performance; (e) we have no duty to determine whether your contributions or distributions from the XXX comply with the Code or regulations adopted thereunder; and (f) we do not guarantee that the XXX will not lose money or depreciate. Client represents that neither the Client nor the Account itself is a plan subject to ERISA or similar government regulation (a “Plan”). However, if the Account includes assets of a Plan in which Client participates, the Client: (a) understands that we will not act as a “fiduciary” within the meaning of ERISA §3(38) with respect to such Plan assets and that notwithstanding any other provision of this Agreement, we will not exercise any discretion respecting such Plan assets—you will retain all authority to direct your Plan investments under the terms of the Plan; (b) acknowledges that to the extent CapMgmt is a “fiduciary” within the meaning of ERISA §3(21) respecting such Plan assets, CapMgmt will act solely in the interests of the Client and Client’s beneficiaries, act with the care, skill, prudence, and diligence that a prudent man would use in the same situation, and act according to the terms of the Plan documents, to the extent the documents are consistent with ERISA; (c) represents that CapMgmt has been furnished true and complete copies of all documents establishing and governing the Plan and evidencing Client’s authority to ret...

XXX Accounts. PFPC Trust shall arrange for the establishment of XXX custodian accounts for such Shareholders holding Shares through XXX accounts, in accordance with the Internal Revenue Code of 1986, as amended (including regulations promulgated thereunder), and with such other procedures as are mutually agreed upon from time to time by and among the Fund, PFPC Trust and the Fund’s transfer agent.

XXX Accounts. Not later than thirty days prior to the expected Closing Date, Seller shall, at Seller's expense, mail notice of Seller's resignation as custodian and trustee, and the appointment of Buyer as the successor custodian or trustee, effective upon Closing, of IRAs maintained at the Branch. The notice shall be in the form that is mutually agreed upon by Seller and Buyer.