Indemnification of Custodian. To the extent not prohibited by Federal or State law, the Applicant/Plan Participant agrees to indemnify and hold harmless Kingdom Trust, its respective subsidiaries and administrators, officers, directors, managers, members, representatives, agents, employees, affiliates, successors and assigns from and against any and all claims, demands, liabilities, damages, costs, expenses, attorneys' fees, payments and assessments arising in connection with the Applicant/Plan Participant or the Applicant/Plan Participant's IRA or which may result from any good faith actions, errors or omissions and from following or attempting to follow any directions of the Applicant/Plan Participant (or the beneficiary(ies), or an account designated representative), and further agrees that the custodian shall not be subject to margin calls or have any other obligation to extend credit or otherwise disburse payment beyond the cash balance of Applicant/Plan Participant's account for any reason whatsoever.
Appears in 4 contracts
Samples: Custodial Agreement, Custodial Agreement, Simple Ira
