Termination by Sponsor or Custodian. Neither the Sponsor nor the Custodian may terminate a Plan until such time as is specified in the applicable Prospectus, unless and to the extent that conditions specified in the Prospectus applicable to such Plan and permitting such termination have been satisfied. If a Plan is in a state of default or delinquency, as defined in the applicable Prospectus, either the Sponsor or the Custodian may terminate such Plan in the manner provided in such Prospectus.
Termination by Sponsor or Custodian. If a Planholder fails to make any scheduled payment for six months after it becomes due under the Plan, either the Sponsor or the Custodian may terminate the Plan on 60-days' written notice, and the Custodian may charge the fee set forth in the Prospectus. The six months of default will not start until the Planholder has been given full credit for a period equal to the amount of any prepayments he may have made. (Any scheduled payment made and accepted prior to termination extends the due dates of all future payments for a period equal to the period during which no payments were made.) The written notice of termination shall state that for a period of 60 days from the date of mailing of such notice, the Planholder shall have the election to have the Custodian either (a) sell all the Fund shares standing in the Planholder's account and make any authorized deductions, including fees and expenses, or (b) sell sufficient Fund shares standing in the Planholder's account to pay all authorized deductions, including fees and expenses, and leave no fractional shares. However, if neither the Sponsor nor the Custodian receives the Planholder's notice of election within 60 days from the date of the mailing of the aforesaid notice of termination, the Custodian is authorized in its discretion to exercise such election as agent for the Planholder. Upon receipt of a properly documented letter of instruction from the Planholder, the Custodian will transfer and deliver to the Planholder the Fund shares and/or their cash value less authorized deductions, including fees and expenses. No interest will be payable by the Custodian upon any cash held by it pending the surrender of the Plan. The Custodian may, in its discretion, if the Planholder fails to surrender the Plan during the period of 60 days after the sending of the termination notice referred to above, fully discharge its obligations by mailing to the Planholder at the appropriate address noted upon its records, either its check for the cash value of all Fund Shares then standing to the Planholder's credit, or by transferring to the Planholder record ownership of all Fund Shares held in his account, and thereafter the Planholder's Plan shall be deemed cancelled and the Planholder shall have no further rights thereunder. Upon any such termination of a Plan, the Custodian shall furnish the Planholder and the Sponsor with a statement showing all charges in his account since the date of the last previous payment. In the ev...
Termination by Sponsor or Custodian. If a Planholder fails to make any scheduled payment for six months after it becomes due under the Plan, either the Sponsor or the Custodian may terminate the Plan on 60-days' written notice, and the Custodian may charge the fee set forth in the Prospectus. The six months of default will not start until the Planholder has been given full credit for a period equal to the amount of any prepayments he may have made. (Any scheduled payment made and accepted prior to termination extends the due dates of all future payments for a period equal to the period during which no payments were made.) The written notice of termination shall state that for a period of 60 days from the date of mailing of such notice, the Planholder shall have the election to have the Custodian either (a) sell all the Fund shares standing in the Planholder's account and make any authorized deductions, including fees and expenses, or (b) sell sufficient Fund shares standing in the Planholder's account to pay all authorized
