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. 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 Company may remove the Custodian at any time upon thirty (30) days’ notice, written or otherwise, to the Custodian and the Depositor (or following the death of the Depositor, the Beneficiary). The Custodian may resign at any time upon thirty (30) days’ notice, written or otherwise to the Depositor (or following the death of the Depositor, the Beneficiary). In connection with its resignation hereunder, the Custodian may, but is not required to, appoint a successor custodian with the consent of the Company, or 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 predecessor or successor to it. If no successor custodian is appointed by the Company or the Custodian, 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 (or following the death of the Depositor, the Beneficiary).
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 at any time with or without cause upon written notice to the Participant. Resignation will take effect 30 days after the date the notice is sent, unless a successor Trustee/ Custodian is duly appointed before that date. The Custodian may be removed at any time with or without cause by the Participant on 60 days’ written notice to the Custodian. Such effective date may be changed upon written mutual agreement. To be effective, the Participant’s notice of removal of the Custodian must include notice of the appointment of a successor Trustee/Custodian and a written acceptance of such appointment by the successor Trustee/ Custodian. If by the effective date of either the Custodian’s resignation or removal or such longer time as the Custodian may agree to, the Participant has not appointed a successor Trustee/ Custodian which has duly accepted such appointment, the Custodian shall terminate the Plan, which shall be effective by distributing all assets in the Participant’s Account in a single sum in cash or in kind to the Participant, subject to the Custodian’s right to reserve funds as provided below. Upon the resignation or removal of the Custodian, the Custodian shall be entitled to deduct from the Custodial Account such reasonable amount as it deems necessary to provide for expenses in the settlement of its account, the amount of compensation due to it, and any taxes or other sums chargeable against the Custodial Account for which it may be liable. If the Custodial Account is not sufficient for such purposes, the Custodian shall have the right to a settlement of its account, which, at the option of the Custodian, may be by judicial settlement in an action the Custodian institutes in a court of competent jurisdiction; or by a settlement agreement between the Custodian and the Participant (or Beneficiary if the Participant has died). Upon settlement under this Section 14.2, all right, title and interest of the Custodian in the assets of the Custodial Account shall vest in the successor Trustee/Custodian. At that time, all future liability of the Custodian shall terminate under the Plan; provided, however, the Custodian shall execute, acknowledge and deliver all documents and written instruments necessary to transfer and convey the right, title and interest in the assets of the Custodial Account to the successor Trustee/ Custodian.
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. (a) Subject to the provisions of Section 9.05(c), the Custodian may, at any time, tender its resignation by giving written notice thereof to the Co-Owners, the Credit Enhancement Providers, if any, the Seller and the Servicer and, upon the receipt and acceptance thereof by the Servicer, on behalf of the Seller, the Co-Owners and any Credit Enhancement Providers, shall be discharged from its obligations and duties hereunder. Upon receiving such notice, the Co-Owners and the Seller shall promptly seek to retain a successor Xxxxxxxxx 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 Xxxxxxxxx shall have been so appointed or shall have accepted an appointment within 30 days after the giving of such notice of resignation, the Servicer or the resigning Custodian shall petition any court of competent jurisdiction for the appointment of a successor Xxxxxxxxx. The Servicer shall not accept the resignation of the resigning Custodian until a successor Xxxxxxxxx has been appointed and has agreed to act as Custodian in accordance with the terms hereof.
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. 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. (a) If either party chooses to terminate pursuant to Section 12 of the Agreement the Transfer Agent may thereupon resign as custodian in respect to any or all of the Retirement Accounts upon sixty (60) days' prior written notice to the Trust. In such an event, the Trust 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 Transfer Agent. The Trust shall be responsible to obtain a successor custodian for all Retirement Accounts.
