Examples of Custodial Transfer in a sentence
The Direct Custodial Transfer side is used for all other transfers including all qualified transfers and non-qualified funds coming from a policy that is not an annuity or life insurance.
This form must be signed by the owner and returned to the Home Office with the application.1035 Exchange Request Form/Direct Custodial Transfer Request (ACLAN1035-OT 10/14/15) – Complete the applicable section of this form if the annuity will be funded with a transfer or 1035 Exchange.
Seller is duly qualified under the Code (including Section 223(d)(1)(B) thereof) and all other Applicable Law to serve as a custodian with respect to each Health Savings Account and has the organizational power and authority to serve as custodian or administrator, as the case may be, for the Accounts, to effect the Custodial Transfer and to own the Acquired Assets as and in the places where now administered or owned, as the case may be.
On the terms and subject to the conditions of this Agreement, on the Conversion Date, Buyer will assume and agree to pay, perform, be responsible for and discharge only the following Liabilities (collectively, the “Assumed Liabilities”): All Liabilities arising immediately following the Custodial Transfer solely in respect of the Continuing Accounts comprised of HSAs.
Buyer is duly qualified under the Code (including Section 223(d)(1)(B) thereof) and other Applicable Laws to serve as a custodian with respect to health savings accounts and has the corporate power and authority to serve as custodian or administrator, as the case may be, for the Accounts, to accept a trustee-to-trustee transfer and the Custodial Transfer, and to own the Acquired Assets as and in the places where now administered or owned, as the case may be.
For the avoidance of doubt, consummation of the Custodial Transfer shall be determined in accordance with the terms of this Agreement, including this Section 2.1 and Article V hereof.
On the terms and subject to the conditions of this Agreement, on the Conversion Date, Seller shall sell, transfer, assign, convey and deliver to Buyer, and Buyer shall purchase and acquire from Seller, in each case free and clear of all Liens, the exclusive right (a) to act as custodian of the HSA Accounts, effective as of the Conversion Date, and (b) to effect the Custodial Transfer on the Conversion Date (collectively, the “Acquired Assets”).
Breach and incident management response protocols are reviewed and revised to implement best practices or recommendations.
As previously disclosed on June 27, 2022, Old National Bank, a wholly-owned subsidiary of Old National Bancorp, entered into a Custodial Transfer and Asset Purchase Agreement with UMB Bank, n.a. (“UMB”), pursuant to which UMB will acquire Old National Bank’s business of acting as a qualified custodian for, and administering, health savings accounts.
As such, to perfect their respective security interests and to preserve the priority thereof, each of the Managed Equipment Owners and the Managed Equipment Lenders hereby appoints the Collateral Agent upon the occurrence of a Lease Custodial Transfer, to take possession of the Leases.