Resignation or Removal of Custodian. The Custodian may resign at any time upon thirty (30) days notice in writing to the Investment Company. Upon such resignation, the Investment Company shall notify the depositor, and shall appoint a successor custodian under this Agreement. The depositor or the Investment Company at any time may remove the Custodian upon 30 days written notice to that effect in a form acceptable to and filed with the custodian. Such notice must include designation of a successor custodian. The successor custodian shall satisfy the requirements of Section 408(h) of the Code. Upon receipt by the Custodian of written acceptance of such appointment by the successor custodian, the Custodian shall transfer and pay over to such successor the assets of and records relating to the custodial account. The Custodian is authorized, however, to reserve such sum of money as it may deem advisable for payment of all its fees, compensation, costs and expenses, or for payment of any other liability constituting a charge on or against the assets of the custodial account or on or against the Custodian, and where necessary may liquidate shares in the custodial account for such payments. Any balance of such reserve remaining after the payment of all such items shall be paid over to the successor custodian. The Custodian shall not be liable for the acts or omissions of any predecessor or successor custodian or trustee.
Resignation or Removal of Custodian. 4.1 If either party chooses to terminate the Agreement pursuant to Section 10 of the Agreement the Bank may thereupon resign as Custodian in respect to any or all of the Retirement Accounts upon thirty (30) days' prior written notice to the Fund. In such an event, the Fund will promptly distribute the notice of the Custodian's resignation to such persons and in such manner as are called for under the applicable provisions of the Retirement Account and in form and content satisfactory to and signed by the Bank. The Fund shall be responsible to obtain a successor custodian for all Retirement Accounts.
4.2 If the Fund chooses to discontinue performing any of its duties and obligations described in or contemplated by this 1999 Amendment or the Fund Prototypes, either of a general nature or in respect to any or all Retirement Accounts, it will give the Bank at least one hundred twenty (120) days' written notice prior to such discontinuance. The Bank may thereupon resign as Custodian in respect to any or all Retirement Accounts by providing (30) days' prior written notice to the Fund. In such an event, the Fund shall be responsible to obtain a successor custodian for the Retirement Accounts. Upon written acceptance by the successor custodian, the Fund will promptly distribute the notice of the Custodian's resignation to such persons and in such manner as are called for under the applicable provisions of the Retirement Account and in form and content satisfactory to and signed by the Bank.
4.3 If at any time the Fund chooses to terminate the services requested under this 1999 Amendment, it will give the Bank at least one hundred and twenty (120) days' written notice prior to such termination. Such notice, to be effective, shall designate a successor custodian and shall be accompanied by the successor custodian's written acceptance. The Fund shall be responsible to obtain a successor custodian for all Retirement Accounts. Upon written acceptance by the successor custodian, the Fund will promptly distribute the notice of the Custodian's resignation to such persons and in such manner as are called for under the applicable provisions of the Retirement Account and in form and content satisfactory to and signed by the Bank.
4.4 If at any time and for any reason the Bank chooses to resign as Custodian of any or all Retirement Accounts, it will give the Fund at least thirty (30) days' prior written notice. In connection with its resignation hereunder or pursuant to Secti...
Resignation or Removal of Custodian. We may resign as Custodian at any time upon 30 days written notice to the Participant. Upon resignation, we may, but shall not be required to, appoint a successor custodian under this Agreement; provided that any successor custodian shall satisfy the requirements of Code section 408(a)(2). Upon any such successor’s acceptance of appointment, we shall transfer the assets of the custodial account, together with copies of relevant books and records, to such successor custodian; provided, however, that we are authorized to reserve such sum of money or property as we may deem advisable for payment of any liabilities constituting a charge on or against the assets of the custodial account, or on or against us. We shall not be liable for the acts or omissions of any successor custodian. If no successor custodian is appointed by us, the custodial account shall be terminated, and the assets of the Account, reduced by the amount of any unpaid fees or expenses, will be distributed to you. If we are required to comply with Regulations section 1.408–2(e), and we fail to do so, or we are not keeping the records, making the returns or sending the statements as are required by forms or Regulations, the IRS may, after notifying you, require you to substitute another trustee or custodian. We may establish a policy requiring distribution of the entire balance of your XXX to you in cash or property if the balance of your XXX drops below the minimum balance required under the applicable investment or policy established.
Resignation or Removal of Custodian. The Custodian may resign at any time by giving at least 30 days' written notice to the Distributor. The Distributor may remove the Custodian at any time by giving at least 30 days' written notice to the Custodian. If the Custodian resigns or is removed, the Distributor must either appoint a successor custodian to serve under this Agreement or notify the Depositor that he or she must appoint a successor custodian. The successor custodian must provide a written acceptance of its appointment as successor custodian to the Custodian. Upon receiving this written acceptance, the Custodian must transfer to the successor custodian all of the assets and records of the custodial account. The Custodian may reserve a portion of the custodial account assets to pay for any fees, compensation, costs, expenses, or for any liabilities constituting a charge on or against the Custodian. If any assets remain after paying these items, the Custodian will pay the remainder to the successor custodian. If the Custodian resigns or is removed, and the Distributor or the Depositor has not appointed a successor custodian within 30 days after the Custodian's resignation or removal (or a longer period, if the Custodian agrees), the Custodian will terminate this Agreement as provided in paragraph 11, below. After the Custodian has transferred the custodial account assets to the successor custodian, the Custodian is relieved of any further liability for this Agreement, the custodial account, and the custodial account assets. The Custodian or any successor custodian appointed to serve under this Agreement, must be either 1) a bank as defined in Internal Revenue Code Section 408(n), or 2) such other person who qualifies to serve as prescribed by Internal Revenue Code Section 408(a)(2) and satisfies the Distributor and the Custodian that he or she qualifies.
Resignation or Removal of Custodian. The Company may remove the Custodian at any time, and the Custodian may resign at any time, upon thirty (30) days’ notice, written or otherwise, to the Depositor. Upon the removal or resignation of the Custodian, the Company may, but shall not be required to, appoint a successor Custodian under this Custodial Agreement; provided that any successor custodian shall satisfy the requirements of the Code. Upon any such successor’s acceptance of appointment, the Custodian shall transfer the assets of the Custodial Account to such successor custodian; provided, however, that the Custodian is authorized to reserve such sum of money or property as it may deem advisable for payment of any liabilities constituting a charge on or against the assets of the Custodial Account, or on or against the Custodian or the Company. Upon acceptance of such appointment, a successor custodian shall be vested with all authority of the Custodian pursuant to this Agreement. The Custodian shall not be liable for the acts or omissions of any successor to it. If no successor Xxxxxxxxx is appointed by the Company, the Custodial Account shall be terminated, and the assets of the Account, reduced by the amount of any unpaid fees or expenses, will be distributed to the Depositor.
Resignation or Removal of Custodian. The Custodian may resign at any time upon at least 30 days’ written notice to the Employer. The Custodian may be removed by the Employer at any time upon 30 days’ written notice to the Custodian. Upon resignation of the Custodian, the Sponsoring Organization may, but shall not be required to, appoint a successor custodian. Upon removal of the Custodian, the Employer shall appoint a successor custodian but, in that event, the Plan shall be considered an individually designed plan for purposes of Section
Resignation or Removal of Custodian. The Custodian may resign as Custodian of any Participant’s Account upon 30 days written notice to the Participant. The Participant may remove a Custodian upon 30 days prior written notice. Upon such resignation or removal, a successor Xxxxxxxxx shall be named. Upon designation of a successor Xxxxxxxxx, the Custodian shall transfer the assets held pursuant to the terms of this Agreement to the successor Custodian. The Custodian may retain a portion of the assets to the extent necessary to cover reasonable administrative fees and expenses. Where the Custodian is serving as a nonbank custodian pursuant to Treasury Regulation 1.408-2(e), the Participant will appoint a successor Custodian upon notification by the Commissioner of the Internal Revenue Service that such substitution is required because the Custodian has failed to comply with the requirements of Treasury Regulation 1.408-2(e) or is not keeping such records or making such returns or rendering such statements as are required by forms or regulations.
Resignation or Removal of Custodian. 17.1. Upon written notice to the Custodian, the Depositor may remove it from its office hereunder. Such notice, to be effective, shall designate a successor custodian or custodian and shall be accompanied by the successor’s written acceptance. The Custodian may at any time resign upon thirty
Resignation or Removal of Custodian. (1) Subject to the provisions of Section 11.6(3), the Custodian may at any time tender its resignation by giving written notice thereof to the Co-Owners (or their Agent on their behalf), the Seller and the Servicer and, upon the receipt and acceptance thereof by the Servicer, on behalf of the Seller and the Co-Owners, shall be discharged from its obligations and duties hereunder. Upon receiving such notice, the Co-Owners (or their Agent on their behalf) and the Seller shall promptly seek to retain a successor Custodian and, subject to acceptance by the Servicer of the resignation of the resigning Custodian, shall appoint such Person by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Custodian and one copy to the successor Custodian. If no successor Custodian shall have been so appointed or shall have accepted an appointment within 30 days after the giving of such notice of resignation, the Servicer may petition any court of competent jurisdiction for the appointment of a successor Custodian. The Servicer shall not accept the resignation of the resigning Custodian until a successor Custodian has been appointed and has agreed to act as Custodian in accordance with the terms hereof.
(2) If at any time the Custodian shall cease to be eligible in accordance with the provisions of Section 11.5 and shall fail to resign after written request therefor by the Servicer or the Co-Owners (or their Agent on their behalf), or if at any time the Custodian shall be legally unable to act, or commits any act of bankruptcy, including the making of an assignment or filing of notice of intention to make any proposal for the benefit of some or all of its creditors under applicable bankruptcy or insolvency law, or if a receiver of the Custodian or of its property shall be appointed, or any public officer shall take charge or control of the Custodian or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Servicer or the Co-Owners (or their Agent on their behalf) and the Seller may remove the Custodian and promptly appoint a successor Custodian by written instrument, in duplicate, one copy of which instrument shall be delivered to the Custodian so removed and one copy to the successor Custodian. The Custodian may also be removed for any other reason at any time upon a Co-Owner Direction of all Series, delivered to the Custodian, with a copy to the Seller and the Servicer. If a delay i...
Resignation or Removal of Custodian. The Custodian may resign at any time upon 30 days notice in writing to the Employee. The Sponsor may remove the Custodian upon 30 days notice to the Custodian and the Employee. In addition, the Employee shall remove the Custodian and substitute a successor custodian if the Employee receives notification from the Commissioner of the Internal Revenue Service that it requires the substitution because (i) the Custodian has failed to comply with ss.1.401-12(n) of the regulations of the Internal Revenue Service or (ii) has not kept the records or made the returns or rendered the statements required by the forms and regulations issued by the Internal Revenue Service. Upon such resignation or removal, the Employee or the Sponsor shall appoint a successor Custodian which shall meet the requirements of the Code. Upon receipt by the Custodian of written acceptance of such appointment by the successor Custodian, the Custodian shall transfer and pay over to such successor Custodian the assets of the Custodial Account and all records or copies thereof pertaining to the Custodial Account. The Custodian may reserve such sum of money as it may deem advisable for payment of all its fees, compensation, costs and expenses, or for payment of any other liabilities consisting of a charge on or against the assets of the Custodial Account. The Custodian shall have a lien on the assets of the Custodial Account to the extent of any such charges.
