Appointment of Successor Custodian. If a successor custodian shall have been appointed by the Board of Trustees, the Custodian shall, upon receipt of a notice of acceptance by the successor custodian, on such specified date of termination (i) deliver directly to the successor custodian all Securities (other than Securities held in a Book-Entry System or Securities Depository) and cash then owned by the Fund and held by the Custodian as custodian, and (ii) transfer any Securities held in a Book-Entry System or Securities Depository to an account of or for the benefit of the Fund at the successor custodian, provided that the Trust shall have paid to the Custodian all fees, expenses and other amounts to the payment or reimbursement of which it shall then be entitled. In addition, the Custodian shall, at the expense of the Trust, transfer to such successor all relevant books, records, correspondence, and other data established or maintained by the Custodian under this Agreement in a form reasonably acceptable to the Trust (if such form differs from the form in which the Custodian has maintained the same, the Trust shall pay any expenses associated with transferring the data to such form), and will cooperate in the transfer of such duties and responsibilities, including provision for assistance from the Custodian’s personnel in the establishment of books, records, and other data by such successor. Upon such delivery and transfer, the Custodian shall be relieved of all obligations under this Agreement.
Appointment of Successor Custodian. If a successor custodian shall have been appointed by the Board, Bank shall, upon receipt of a Notice from Customer, on such specified date of termination (i) deliver directly to the successor custodian (or any subcustodian appointed by successor custodian), all Financial Assets and Securities (other than Securities held in a Book-Entry System or Securities Depository) and cash then owned by Customer and held by Bank as custodian, and (ii) transfer any Financial Assets and Securities held in a Book-Entry System or Securities Depository to an account of or for the benefit of Customer at the successor custodian (or any subcustodian appointed by successor custodian), provided that Customer shall have paid to Bank all fees, expenses and other amounts to the payment or reimbursement of which it shall then be entitled under this Agreement. In addition, to the extent customary in the industry, Bank shall, at the reasonable expense of Customer, transfer to such successor copies of all relevant books, records, correspondence, and other data established or maintained by Bank under this Agreement, and will cooperate in the transfer of such duties and responsibilities.
Appointment of Successor Custodian. Any removal or resignation of the Custodian while any Notes are Outstanding will be effective only upon the appointment by the Indenture Trustee (and the acceptance in writing by such successor Custodian) of a successor Custodian that is an established institution in the State of Iowa which (a) has demonstrated an ability to professionally and competently perform duties similar to those imposed upon the Custodian hereunder and (b) is legally qualified and has the capacity to act as Custodian hereunder in the assumption of all of the responsibilities, duties and obligations of the Custodian hereunder. The Trustee, on behalf of each Trust, the Indenture Trustee, the Custodian and the successor Custodian shall take such action (or cause the removed or resigning Custodian to take such action) consistent with this Custodial Agreement as shall be necessary to effectuate any such succession.
Appointment of Successor Custodian. Pursuant to this Article XVIII, we may resign as custodian and appoint a successor custodian that we choose. The successor custodian (or trustee) must be a bank (as defined in Code Section 408(n)), an insurance company (as defined in section 816), or another person who satisfies the IRS requirements for HSA custodial duties. The appointment of a successor custodian will become effective immediately; provided, however, that you will retain your right to terminate this Agreement pursuant to this Article
Appointment of Successor Custodian. Any removal or resignation of the Custodian while any Notes are Outstanding will be effective only upon the appointment (and the acceptance in writing by such successor Custodian) of a successor Custodian by the Indenture Trustee that is an established institution in the State of Colorado which (a) has demonstrated an ability to professionally and competently perform duties similar to those imposed upon the Custodian hereunder and (b) is legally qualified and has the capacity to act as Custodian hereunder in the assumption of all of the responsibilities, duties and obligations of the Custodian hereunder; provided, however, that if no successor Custodian shall have been appointed and have accepted appointment within ninety (90) days of the giving of any notice of resignation by the Custodian, the Custodian may petition any court of competent jurisdiction for the appointment of a successor Custodian. The Trustee, on behalf of each Trust, the Indenture Trustee, the Custodian and the successor Custodian shall take such action (or cause the removed or resigning Custodian to take such action) consistent with this Custodial Agreement as shall be necessary to effectuate any such succession.
Appointment of Successor Custodian. We may resign at any time effective thirty (30) days after we mail written notification of our resignation to you at the last known address maintained in our file. In such case you must make arrangements to transfer your Account to another qualified financial institution. If you do not complete a transfer of your Account within 30 days from the date we mail the notice to you, we have the right to transfer the assets of your Account to a successor IRA Custodian that we choose, in our sole discretion, or we may distribute the assets of your Account to you. We shall not be liable for any actions or failures to act by you, any successor Custodian, or for tax consequences you may incur resulting from such transfer or distribution of your Account.
Appointment of Successor Custodian. Prior to the effective date of the resignation or removal of the Custodian, the Participant or Custodian shall appoint a successor custodian. Upon receipt by the successor custodian of written acceptance of an appointment by the successor custodian, the Custodian shall transfer to such successor custodian the assets of the Custodial Account and all necessary records (or copies thereof) pertaining to it, provided that (if so requested by the Custodian) any successor custodian agrees not to dispose of any records without the Custodian's consent. The Custodian is authorized, however, to reserve a portion of assets of the Custodial Account as it may deem advisable for payment of all its fees, compensation, costs, and expenses, or for payment of any other liabilities constituting a charge on or against the assets of the Custodial Account or on or against the Custodian with respect to the Custodial Account, with any balance of such reserve remaining after the payment of all items to be paid over to the successor custodian.
Appointment of Successor Custodian. Upon resignation or removal of the Custodian, Seller and Buyer shall have thirty (30) days in which to appoint and designate a successor. If Buyer and Seller fail to jointly designate a successor custodian within such thirty (30)-day period, then the Custodian shall deliver possession and custody of the Mortgage Files to Buyer at the address set forth below or at Buyer's direction. Any successor custodian hereunder may be a subsidiary or affiliate of Buyer or, if not, shall be a financial institution whose deposits are insured by an insurance fund of the FDIC, shall have a net worth of not less than $ 100,000,000 and shall have secure vault storage facilities located in the State of California, in which the Mortgage Files are to be retained, all as determined by Buyer and Seller.
Appointment of Successor Custodian. If a successor custodian shall have been appointed by the Board, Bank shall, upon receipt of a notice of acceptance by the successor custodian, on such specified date of termination (i) deliver directly to the successor custodian (or any subcustodian appointed by successor custodian), all Financial Assets and Securities (other than Securities held in a Book-Entry System or Securities Depository) and cash then owned by a Fund and held by Bank as custodian, and (ii) transfer any Financial Assets and Securities held in a Book-Entry System or Securities Depository to an account of or for the benefit of a Fund at the successor custodian (or any Subcustodian appointed by successor custodian), provided that a Fund shall have paid to Bank all fees, expenses and other amounts to the payment or reimbursement of which it shall then be entitled. In addition, to the extent customary in the industry, Bank shall, at the reasonable expense of a Fund, transfer to such successor copies of all relevant books, records, correspondence, and other data established or maintained by Bank under this Agreement in a form reasonably acceptable to a Fund (if such form differs from the form in which Bank has maintained the same, a Fund shall pay any reasonable expenses associated with transferring the data to such form), and will cooperate in the transfer of such duties and responsibilities.
11. [RESERVED.]
Appointment of Successor Custodian. If this Custody Agreement is terminated by written agreement pursuant to Section 7 hereof, or if the Custodian resigns pursuant to Section 8 hereof, a successor custodian will be appointed as follows:
a. The Sponsor will, within 60 days after delivery of the notice of resignation or notice of termination, appoint a successor custodian. If no successor custodian has been appointed within 60 days, the Custodian may petition any court of competent jurisdiction for the appointment of a successor custodian. In such case, the Custodian's resignation shall not become effective until the appointment of such successor custodian.
b. Any successor custodian (i) will be a corporation organized and doing business under the laws of the United States or the State of New York, which is authorized under such laws to exercise corporate trust powers, and which is a participant in DTC, (ii) will have an aggregate capital, surplus, and undivided profits of not less than $50,000,000, and (iii) will have its principal office and place of business in the Borough of Manhattan, the City and State of New York.
c. The Custodian will deliver to its successor the Obligations, the related Custodian Policies and any documentation related to them or to the Book Entry Positions and will remit to the successor custodian any payments received by the Custodian with respect to such Obligations, Custodian Policies or Book Entry Positions and any unamortized fees. The retiring Custodian shall, upon payment of its fees and charges, duly assign, transfer and deliver to such successor custodian, the Custodian Policy and all records, Obligations and moneys held by such retiring Custodian pursuant to the terms of this Custody Agreement. Any successor custodian appointed hereunder will execute, acknowledge and deliver to its predecessor and to the Corporation an instrument in writing accepting such appointment, and thereupon such successor, without any further act, will become fully vested with all the rights, duties and obligations of its predecessor.
d. The successor Custodian shall send notice of its appointment to each Beneficial Owner within 10 days of such appointment.
