Examples of Custodial Administration Agreement in a sentence
The Master Custodial Administration Agreement Administrator shall discharge its duties set forth in this Agreement solely in the interests of the Participant of the Participating Plan and their beneficiaries and for the exclusive purpose of providing benefits to Participant of the Participating Plan and their beneficiaries and defraying reasonable expenses of administering the Custodial Account.
Master Custodial Administration Agreement Administrator is ordinarily obligated to instruct the Custodian to follow a Directing Party's proper directions; however, Master Custodial Administration Agreement Administrator reserves the right to question any direction and to take appropriate action, including a refusal to follow any directions, if and to the extent that, Master Custodial Administration Agreement Administrator reasonably believes such direction is not proper.
The Plan Administrator or other authorized person will periodically notify the Master Custodial Administration Agreement Administrator of each loan to be made from the Custodial Account and the repayments thereof.
The Plan Administrator or other authorized person will retain custody of all loan documentation unless the Master Custodial Administration Agreement Administrator otherwise agrees to do so.
In accordance with Rule 14b-2 of the Securities and Exchange Act of 1934, as amended, Master Custodial Administration Agreement Administrator will instruct the Custodian to provide the name, address and share position of the beneficial holder of securities to the issuing company, unless the beneficial holder objects in writing to the provision of such information.
Upon receipt of such notice, the Master Custodial Administration Agreement Administrator will reflect the amount of each loan and its repayments on the records of the Custodial Account.
The Master Custodial Administration Agreement Administrator shall maintain separate recordkeeping accounts for each Participant and/or Participating Plan, which shall at all times reflect each Participant’s and/or Participating Plan’s equitable share in the Custodial Account, to which shall be credited all contributions received from such Participating Plan’s Sponsor and against which shall be charged all payments made pursuant to the written directions of the Plan Administrator or other authorized person.
Such property shall be held as a separate Custodial Account for the exclusive benefit of the Participant of the withdrawing plan (or of the withdrawing Participant) and their beneficiaries, under a separate Master Custodial Administration Agreement substantially identical to this Agreement.
The Custodial Agreement established by the Master Custodial Administration Agreement Administrator on the behalf of the Employer and Plan as set forth herein.
The Master Custodial Administration Agreement Administrator shall have no responsibility for determining the accuracy or appropriateness of any such payment and any such instruction to pay may be relied upon by the Master Custodial Administration Agreement Administrator as authorized under applicable law and the terms of the Participating Plan.