Common use of Resignation or Removal of Custodian Clause in Contracts

Resignation or Removal of Custodian. The Custodian may resign at any time upon thirty (30) days prior written notice to the Sponsor or at such other time as may be provided in any agreement between the Custodian and the Sponsor. Upon such resignation, the Sponsor shall notify the Depositor and shall appoint a successor custodian under this Custodial Agreement. The Sponsor may remove the Custodian at such time as may be provided in any agreement between the Custodian and the Sponsor. To be effective, such removal notice must include designation of a successor custodian. The successor custodian shall satisfy the requirements of section 408(h) of the Code. The Custodian shall not be liable for the acts or omissions of any predecessor or successor custodian or trustee. 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 the Custodial Account and all records pertaining thereto. 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, with any balance of such reserve remaining after the payment of such items to be paid over to the successor custodian. The successor custodian shall hold the assets paid over to it under terms similar to those of this Agreement that qualify under the provisions of the Internal Revenue 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 liabilities constituting a charge on or against the assets of the Custodial Account or on or against the Custodian, and where necessary may liquidate assets in the Custodial Account for such payments. Any balance of such reserve remaining after the payment of such items shall be paid over to the successor custodian. The successor custodian shall hold the assets paid over to it under terms similar to those of this Agreement that qualify under the provisions of the Internal Revenue Code. The Custodian shall not be liable for the acts or omissions of any predecessor or successor custodian or trustee.

Resignation or Removal of Custodian. The Custodian may resign at any time upon not less than thirty (30) days prior written notice in writing to the Sponsor or at such other time as Participant and may be provided removed by the Participant at any time upon thirty days' notice in any agreement between writing to the Custodian and the SponsorCustodian. Upon such resignationresignation or removal, the Sponsor shall notify the Depositor and individual Participant shall appoint a qualified successor custodian under this Custodial Agreement. The Sponsor may remove the Custodian at such time as may be provided in any agreement between the Custodian and the Sponsor. To be effective, such removal notice must include designation of a successor custodian. The successor custodian shall satisfy the requirements of section 408(h) of the Code. The Custodian shall not be liable for the acts trustee or omissions of any predecessor or successor custodian or trusteeCustodian. Upon receipt by the Custodian of written acceptance of such appointment by the successor custodiantrustee or Custodian, the Custodian shall transfer and pay over to such the successor the assets of the Custodial Accounts or Account and all records pertaining thereto. 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 liabilities constituting a charge on or against the assets of the Custodial Accounts or Account or on or against the Custodian, with any balance of such reserve remaining after the payment of all such items to be paid over to the successor custodiantrustee or Custodian. The successor custodian It shall hold the assets paid over to it under terms similar to those of this Agreement that qualify under the provisions be a condition of the Internal Revenue Code. Upon receipt by removal of the Custodian that the Participant shall have appointed a qualified successor trustee or Custodian. In the event of written acceptance the resignation of such appointment by the successor custodianCustodian and failure to appoint a qualified successor, the Custodian shall transfer and pay over may apply to a court of competent jurisdiction for the appointment of such successor and the assets costs of and records relating to the Custodial Accountsuch a proceeding shall be treated as an expense under Article IX hereof. The Custodian is authorizedUpon such resignation or removal, 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 liabilities constituting a charge on or against the assets of the Custodial Account or on or against the Custodian, and where necessary may liquidate assets 's accounting procedures set forth in the Custodial Account for such payments. Any balance of such reserve remaining after the payment of such items Article VIII hereof shall be paid over to the successor custodian. The successor custodian shall hold the assets paid over to it under terms similar to those of this Agreement that qualify under the provisions of the Internal Revenue Code. The Custodian shall not be liable for the acts or omissions of any predecessor or successor custodian or trusteeapplicable.

Resignation or Removal of Custodian. The Custodian may resign at any time with or without cause upon thirty (30) days prior written notice to the Sponsor or at such other time as Responsible Individual. 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 Custo- dian may be provided in removed at any agreement between time with or without cause by the Custodian and Responsible Individual on 60 days’ written notice to the SponsorCusto- dian. Upon such resignation, the Sponsor shall notify the Depositor and shall appoint a successor custodian under this Custodial Agreement. The Sponsor may remove the Custodian at such time as Such effective date may be provided in any agreement between the Custodian and the Sponsorchanged upon written mutual agreement. To be effective, such the Responsible Individual’s notice of removal notice of the Custodian must include designation notice of the appointment of a successor custodian. The successor custodian shall satisfy the requirements of section 408(h) of the Code. The Trustee/Custodian shall not be liable for the acts or omissions of any predecessor or successor custodian or trustee. Upon receipt by the Custodian of and a written acceptance of such appointment by the successor custodianTrustee/Custodian. If, by the effec- tive date of either the Custodian’s resignation or removal or such longer time as the Custodian may agree to, the Responsible Indi- vidual has not appointed a successor Trustee/Custodian which has duly accepted such appointment, the Custodian shall transfer terminate the Plan, which shall be effective by distributing all assets in the Account in a single sum in cash or in kind to the Designated Xxxxxx- ciary, subject to the Custodian’s right to reserve funds as provided below. Upon the resignation or removal of the Custodian, the Custo- dian 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 pay over 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 such successor 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 Responsible Individual (or Succes- sor Responsible Individual, if applicable). Upon settlement under this Section 10.6.3, all right, title and interest of the Custodian in the assets of the Custodial Account and shall vest in the successor Trustee/ Custodian or, if no duly appointed successor Trustee/Custodian, in the Designated Beneficiary. At that time, all records pertaining thereto. The future liability of the Custodian is authorizedshall terminate under the Plan; provided, however, the Custodian shall execute, acknowledge and deliver all documents and written instruments necessary to reserve such sum of money as it may deem advisable for payment of all its feestransfer and convey the right, compensation, costs title and expenses, or for payment of any other liability constituting a charge on or against interest in the assets of the Custodial Account or on or against the CustodianAccount, with any balance of such reserve remaining after the payment of such items to be paid over to the successor custodian. The Trustee/Custodian or, if no duly appointed successor custodian shall hold the assets paid over to it under terms similar to those of this Agreement that qualify under the provisions of the Internal Revenue Code. Upon receipt by the Custodian of written acceptance of such appointment by the successor custodianTrustee/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 liabilities constituting a charge on or against the assets of the Custodial Account or on or against the Custodian, and where necessary may liquidate assets in the Custodial Account for such payments. Any balance of such reserve remaining after the payment of such items shall be paid over to the successor custodian. The successor custodian shall hold the assets paid over to it under terms similar to those of this Agreement that qualify under the provisions of the Internal Revenue Code. The Custodian shall not be liable for the acts or omissions of any predecessor or successor custodian or trusteeDesignated Beneficiary.

Resignation or Removal of Custodian. (a) The Custodian may resign at any time upon thirty (30) as the Custodian hereunder without the consent of the Depositor, by providing notice of such resignation 30 days prior written notice to the Sponsor or at such other time as may be provided in any agreement between effective date of the Custodian and resignation. In the Sponsor. Upon such resignationevent of a resignation by the Custodian, the Sponsor shall notify the Depositor and shall must appoint a successor custodian under this Custodial Agreement. The Sponsor may remove the Custodian at such time as may be provided in any agreement between the Custodian and the Sponsor. To be effective, such removal notice must include designation of a successor custodian. The successor custodian shall satisfy the requirements of section 408(h) of the Code. The Custodian shall not be liable for the acts or omissions of any predecessor or successor custodian or trusteeTrustee. Upon receipt by the Custodian of a written acceptance of such appointment by the successor custodianCustodian or Trustee, the Custodian shall transfer and pay over to such successor the assets of the Custodial Account and all records pertaining theretocustodial account. If after 30 days from notice of resignation, the Custodian has not received written acceptance of such appointment by the successor Custodian or Trustee, the Custodian shall pay or otherwise transfer to the Depositor the assets remaining in the custodial account. The Custodian is authorized, however, to reserve such sum of money funds as it may deem deems advisable for payment of all its fees, compensation, costs and expenses, or for payment of any other liability liabilities constituting a charge on or against the assets of the Custodial Account custodial account or on against the Custodian, with any balance of such reserve remaining after payment of all such items to be paid over to the successor Custodian. (b) Upon the appointment and qualification of a successor Custodian or Trustee, the successor Custodian or Trustee shall assume all rights, powers, and privileges, liabilities and duties of the Custodian. Upon acceptance of appointment by the successor Custodian or Trustee, the Custodian shall assign, transfer and deliver to the successor all funds held in the custodial account. The Custodian is authorized, however, to reserve such funds as it deems advisable for payment of any liabilities constituting a charge against the assets of the custodial account or against the Custodian, with any balance of such reserve remaining after the payment of all such items to be paid over to the successor custodian. The successor custodian shall hold the assets paid over to it under terms similar to those of this Agreement that qualify under the provisions of the Internal Revenue 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 liabilities constituting a charge on or against the assets of the Custodial Account or on or against the Custodian, and where necessary may liquidate assets in the Custodial Account for such payments. Any balance of such reserve remaining after the payment of such items shall be paid over to the successor custodian. The successor custodian shall hold the assets paid over to it under terms similar to those of this Agreement that qualify under the provisions of the Internal Revenue Code. The Custodian shall not be liable for the acts or omissions of any predecessor or successor custodian or trusteeTrustee.

Resignation or Removal of Custodian. The Custodian may resign at any time with or without cause upon thirty (30) days prior written notice to the Sponsor or at such other time as 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 provided in removed at any agreement between time with or without cause by the Custodian and Participant on 60 days’ written notice to the SponsorCustodian. Upon such resignation, the Sponsor shall notify the Depositor and shall appoint a successor custodian under this Custodial Agreement. The Sponsor may remove the Custodian at such time as Such effective date may be provided in any agreement between the Custodian and the Sponsorchanged upon written mutual agreement. To be effective, such the Participant’s notice of removal notice of the Custodian must include designation notice of the appointment of a successor custodian. The successor custodian shall satisfy the requirements of section 408(h) of the Code. The Trustee/Custodian shall not be liable for the acts or omissions of any predecessor or successor custodian or trustee. Upon receipt by the Custodian of and a written acceptance of such appointment by the successor custodianTrustee/Custo- dian. 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 Account in a single sum in cash or in kind to the Designated Benefi- ciary, subject to the Custodian’s right to reserve funds as provided below. Upon the resignation or removal of the Custodian, the Custo- dian 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 Successor Partici- pant, if applicable). Upon settlement under this Section 14.2, all right, title and interest of the Custodian in the assets of the Custo- dial Account shall vest in the successor Trustee/Custodian or, if no duly appointed successor Trustee/Custodian, in the Designated Beneficiary. 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 instru- ments necessary to transfer and pay over to such successor convey the right, title and interest in the assets of the Custodial Account and all records pertaining thereto. The Custodian is authorizedAccount, 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, with any balance of such reserve remaining after the payment of such items to be paid over to the successor custodian. The Trustee/ Custodian or, if no duly appointed successor custodian shall hold the assets paid over to it under terms similar to those of this Agreement that qualify under the provisions of the Internal Revenue Code. Upon receipt by the Custodian of written acceptance of such appointment by the successor custodianTrustee/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 liabilities constituting a charge on or against the assets of the Custodial Account or on or against the Custodian, and where necessary may liquidate assets in the Custodial Account for such payments. Any balance of such reserve remaining after the payment of such items shall be paid over to the successor custodian. The successor custodian shall hold the assets paid over to it under terms similar to those of this Agreement that qualify under the provisions of the Internal Revenue Code. The Custodian shall not be liable for the acts or omissions of any predecessor or successor custodian or trusteeDesignated Beneficiary.

Resignation or Removal of Custodian. The Custodian may resign at any time with or without cause upon thirty (30) days prior written notice to the Sponsor or at such other time as 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 provided in removed at any agreement between time with or without cause by the Custodian and Participant on 60 days’ written notice to the SponsorCustodian. Upon such resignation, the Sponsor shall notify the Depositor and shall appoint a successor custodian under this Custodial Agreement. The Sponsor may remove the Custodian at such time as Such effective date may be provided in any agreement between the Custodian and the Sponsorchanged upon written mutual agreement. To be effective, such the Participant’s notice of removal notice of the Custodian must include designation notice of the appointment of a successor custodian. The successor custodian shall satisfy the requirements of section 408(h) of the Code. The Trustee/Custodian shall not be liable for the acts or omissions of any predecessor or successor custodian or trustee. Upon receipt by the Custodian of and a written acceptance of such appointment by the successor custodianTrustee/ 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 transfer 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 pay over 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 such successor 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 and shall vest in the successor Trustee/Custodian. At that time, all records pertaining thereto. The future liability of the Custodian is authorizedshall terminate under the Plan; provided, however, the Custodian shall execute, acknowledge and deliver all documents and written instruments necessary to reserve such sum of money as it may deem advisable for payment of all its feestransfer and convey the right, compensation, costs title and expenses, or for payment of any other liability constituting a charge on or against interest in the assets of the Custodial Account or on or against the Custodian, with any balance of such reserve remaining after the payment of such items to be paid over to the successor custodian. The successor custodian shall hold the assets paid over to it under terms similar to those of this Agreement that qualify under the provisions of the Internal Revenue 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 liabilities constituting a charge on or against the assets of the Custodial Account or on or against the Trustee/ Custodian, and where necessary may liquidate assets in the Custodial Account for such payments. Any balance of such reserve remaining after the payment of such items shall be paid over to the successor custodian. The successor custodian shall hold the assets paid over to it under terms similar to those of this Agreement that qualify under the provisions of the Internal Revenue Code. The Custodian shall not be liable for the acts or omissions of any predecessor or successor custodian or trustee.

Resignation or Removal of Custodian. Upon thirty (30) days' prior written notice to the Custodian, the Employer may remove the Custodian from its office hereunder. Such notice, to be effective, shall designate a successor Custodian and shall be xxxxxxxnied by the successor's written acceptance. The Custodian also may resign at any time resign unilaterally upon thirty (30) days days' prior written notice to the Sponsor or at such other time as may be provided in any agreement between Employer, whereupon the Custodian and the Sponsor. Upon such resignation, the Sponsor shall notify the Depositor and Employer shall appoint a successor custodian under this Custodial Agreement. The Sponsor may remove the Custodian at such time as may be provided in any agreement between the Custodian and the Sponsor. To be effective, such removal notice must include designation of a successor custodianCustodian. The successor custodian Custodian shall satisfy be a bank, insured credit union, or other person satisfactory to the requirements Secretary of section 408(hthe Treasury pursuant to Section 401(d)(1) of the Code. The Custodian shall not be liable for , and (while serving hereunder) a broker-dealer registered under the acts or omissions Securities Exchange Act of any predecessor or successor custodian or trustee1934, as now in effect and hereafter amended. Upon receipt by the Custodian of written acceptance by its successor of such appointment by the successor custodiansuccessor's appointment, the Custodian shall transfer and pay over to such successor the assets of the Custodial Account and all records (or copies thereof) of the Custodian pertaining theretothereto provided that the successor Custodian agrees not to dispose of any such records without the Custodian's consent. The Custodian is authorized, however, to reserve such sum of money or property as it may deem advisable for payment of all its fees, compensation, costs costs, and expenses, or for payment of any other liability liabilities constituting a charge on or against the assets of the Custodial Account or on or against the Custodian, with any balance of such reserve remaining after the payment of all such items to be paid over to the successor custodianCustodian. The successor custodian Employer shall hold substitute another Custodian in place of the assets paid over to it under terms similar to those Custodian specified in the Plan upon receipt of this Agreement that qualify under notice from the provisions Commissioner of the Internal Revenue Code. Upon receipt by Service or his delegate that such substitution is required because the specified Custodian has failed to comply with the requirements 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 expensesTemporary Income Tax Regulations Section 11.401(d)(1)-1, or for payment of any is not keeping such records, making such returns or rendering such statements as are required by applicable law, regulations or other liabilities constituting a charge on or against the assets of the Custodial Account or on or against the Custodian, and where necessary may liquidate assets in the Custodial Account for such payments. Any balance of such reserve remaining after the payment of such items shall be paid over to the successor custodian. The successor custodian shall hold the assets paid over to it under terms similar to those of this Agreement that qualify under the provisions of the Internal Revenue Coderulings. The Custodian shall not be liable for the acts or omissions of any predecessor or successor custodian or trusteeits successor.

Resignation or Removal of Custodian. The Custodian may resign at any time with or without cause upon thirty (30) days prior written notice to the Sponsor or at such other time as 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 provided in removed at any agreement between time with or without cause by the Custodian and Participant on 60 days’ written notice to the SponsorCustodian. Upon such resignation, the Sponsor shall notify the Depositor and shall appoint a successor custodian under this Custodial Agreement. The Sponsor may remove the Custodian at such time as Such effective date may be provided in any agreement between the Custodian and the Sponsorchanged upon written mutual agreement. To be effective, such the Participant’s notice of removal notice of the Custodian must include designation notice of the appointment of a successor custodian. The successor custodian shall satisfy the requirements of section 408(h) of the Code. The Trustee/Custodian shall not be liable for the acts or omissions of any predecessor or successor custodian or trustee. Upon receipt by the Custodian of and a written acceptance of such appointment by the successor custodianTrustee/ Custodian. If by the effective date of either the Custodian’s resigna- tion 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 transfer 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 Custo- dian, the Custodian shall be entitled to deduct from the Custo- dial 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 pay over any taxes or other sums charge- able against the Custodial Account for which it may be liable. If the Custodial Account is not sufficient for such purposes, the Custo- dian shall have the right to such successor 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 Partici- pant (or Beneficiary if the Participant has died). Upon settlement under this Section 15.2, all right, title and interest of the Custodian in the assets of the Custodial Account and shall vest in the successor Trustee/Custodian. At that time, all records pertaining thereto. The future liability of the Custodian is authorizedshall terminate under the Plan; provided, however, the Custodian shall execute, acknowledge and deliver all documents and written instruments necessary to reserve such sum of money as it may deem advisable for payment of all its feestransfer and convey the right, compensation, costs title and expenses, or for payment of any other liability constituting a charge on or against interest in the assets of the Custodial Account or on or against the Custodian, with any balance of such reserve remaining after the payment of such items to be paid over to the successor custodian. The successor custodian shall hold the assets paid over to it under terms similar to those of this Agreement that qualify under the provisions of the Internal Revenue 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 liabilities constituting a charge on or against the assets of the Custodial Account or on or against the Trustee/Custodian, and where necessary may liquidate assets in the Custodial Account for such payments. Any balance of such reserve remaining after the payment of such items shall be paid over to the successor custodian. The successor custodian shall hold the assets paid over to it under terms similar to those of this Agreement that qualify under the provisions of the Internal Revenue Code. The Custodian shall not be liable for the acts or omissions of any predecessor or successor custodian or trustee.