Common use of Resignation of Trustee Clause in Contracts

Resignation of Trustee. The Trustee may resign at any time by giving sixty (60) calendar days' prior written notice to the Bank, and the Trustee may be removed, with or without cause, by the Bank on sixty (60) calendar days' prior written notice to the Trustee. Such prior written notice may be waived by the party entitled to receive it. Upon any such resignation or removal becoming effective, the Trustee shall render to the Committee a written account of its administration of the Fund for the period since the last written accounting and shall do all necessary acts to transfer the assets of the Fund to the successor Trustee or Trustees.

Appears in 5 contracts

Samples: Employee Stock Ownership Plan And (Union Community Bancorp), Employee Stock Ownership Plan And (Union Community Bancorp), Employee Stock Ownership Plan And (Citizens Bancorp)

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Resignation of Trustee. The Trustee may resign at any time by giving sixty (60) calendar days' prior written notice to the BankAssociation, and the Trustee may be removed, with or without cause, by the Bank Association on sixty (60) calendar days' prior written notice to the Trustee. Such prior written notice may be waived by the party entitled to receive it. Upon any such resignation or removal becoming effective, the Trustee shall render to the Committee Association a written account of its administration of the Fund Plan and the Trust for the period since the last written accounting and shall do all necessary acts to transfer the assets of the Fund Trust to the successor Trustee or Trustees.

Appears in 3 contracts

Samples: Union Community Bancorp, Union Community Bancorp, City Savings Financial Corp

Resignation of Trustee. The Trustee may resign at any time by giving sixty (60) calendar days' prior written notice to the BankHolding Company, and the Trustee may be removed, with or without cause, by the Bank Holding Company on sixty (60) calendar days' prior written notice to the Trustee. Such prior written notice may be waived by the party entitled to receive it. Upon any such resignation or removal becoming effective, the Trustee shall render to the Committee Holding Company a written account of its administration of the Fund Plan and the Trust for the period since the last written accounting and shall do all necessary acts to transfer the assets of the Fund Trust to the successor Trustee or Trustees.

Appears in 3 contracts

Samples: River Valley Bancorp, River Valley Bancorp, River Valley Bancorp

Resignation of Trustee. The Trustee may resign at any time by giving sixty (60) calendar days' prior written notice to the Bank, and the Trustee may be removed, with or without cause, by the Bank on sixty (60) calendar days' prior written notice to the Trustee. Such prior written notice may be waived by the party entitled to receive it. Upon any such resignation or removal becoming effective, the Trustee shall render to the Committee Bank a written account of its administration of the Fund Plan and the Trust for the period since the last written accounting and shall do all necessary acts to transfer the assets of the Fund Trust to the successor Trustee or Trustees.

Appears in 3 contracts

Samples: Citizens Bancorp, Lincoln Bancorp /In/, Third Century Bancorp

Resignation of Trustee. The Trustee may resign at any time by giving sixty (60) calendar days' prior written notice to the BankHolding Company, and the Trustee may be removed, with or without cause, by the Bank Holding Company on sixty (60) calendar days' prior written notice to the Trustee. Such prior written notice may be waived by the party entitled to receive it. Upon any such resignation or removal becoming effective, the Trustee shall render to the Committee a written account of its administration of the Fund for the period since the last written accounting and shall do all necessary acts to transfer the assets of the Fund to the successor Trustee or Trustees.

Appears in 2 contracts

Samples: City Savings Financial Corporation Employee Stock Ownership Plan and Trust Agreement (City Savings Financial Corp), Stock Ownership Plan and Trust Agreement (River Valley Bancorp)

Resignation of Trustee. The Trustee may resign at any time by giving sixty (60) calendar days' prior written notice to the BankCommittee, and the Trustee may be removed, with or without cause, by the Bank Committee on sixty (60) calendar days' prior written notice to the Trustee. Such prior written notice may be waived by the party entitled to receive it. Upon any such resignation or removal becoming effective, the Trustee shall render to the Committee a written account of its administration of the Fund Plan and the Trust for the period since the last written accounting and shall do all necessary acts to transfer the assets of the Fund Trust to the successor Trustee or Trustees.

Appears in 1 contract

Samples: Three Rivers Financial Corp

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Resignation of Trustee. The Trustee may resign at any time by giving sixty (60) calendar days' prior written notice to the BankCommittee, and the Trustee may be removed, with or without cause, by the Committee but with the written consent of the Bank on sixty (60) calendar days' prior written notice to the Trustee. Such prior written notice may be waived by the party entitled to receive it. Upon any such resignation or removal becoming effective, the Trustee shall render to the Committee a written account of its administration of the Fund for the period since the last written accounting and shall do all necessary acts to transfer the assets of the Fund to the successor Trustee or Trustees.

Appears in 1 contract

Samples: Employee Stock Ownership Plan And (Third Century Bancorp)

Resignation of Trustee. The A Trustee may resign the Trusteeship at any time by giving sixty time. Any resignation shall be in writing and shall become effective only after thirty (6030) calendar days' prior days from the date of mailing or delivery of written notice to the BankBeneficiary, the next successor Trustee, if any, and any court in which a protective proceeding for the Trustee may be removedbeneficiary has been established. If notice is mailed, with or without cause, by the Bank on sixty thirty (6030) calendar days' prior written day period begins to run upon deposit of the notice in the mail addressed to the person's last address known to the Trustee. Such prior written notice may be waived by the party entitled to receive it. Upon any such resignation or removal becoming effective, the Trustee shall render to the Committee a written account of its administration of the Fund for the period since the last written accounting and shall do all necessary acts to transfer the assets of the Fund to the successor Trustee or Trustees.

Appears in 1 contract

Samples: www.elderlawanswers.com

Resignation of Trustee. The Trustee may resign at any time by giving sixty (60) calendar days' ’ prior written notice to the Bank, and the Trustee may be removed, with or without cause, by the Bank on sixty (60) calendar days' ’ prior written notice to the Trustee. Such prior written notice may be waived by the party entitled to receive it. Upon any such resignation or removal becoming effective, the Trustee shall render to the Committee a written account of its administration of the Fund for the period since the last written accounting and shall do all necessary acts to transfer the assets of the Fund to the successor Trustee or Trustees.

Appears in 1 contract

Samples: Trust Agreement (Union Community Bancorp)

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