Common use of Transfers (On Relationship Breakdown or Otherwise Clause in Contracts

Transfers (On Relationship Breakdown or Otherwise. Subject to any reasonable requirements we impose, you may direct us in writing to transfer Plan Assets (net of any costs of realizations), less any fees (including fees charged by the Trustee, the Agent, or any third party payable to you) or charges payable hereunder and any taxes, penalties or interest that are or may become payable or have to be withheld under the Tax Laws (other than those taxes, penalties and interest that the Trustee is liable for under the Act and that can’t be paid out of the property of the Plan), to: a) an RRSP or RRIF under which (i) you are the annuitant; or (ii) your spouse, former spouse, common-law partner or former common-law partner, from whom you are living separate and apart, is the annuitant and the transfer is made pursuant to a decree, order or judgment of a competent tribunal, or a written separation agreement, relating to a division of property in settlement of rights arising out of your marriage or common-law partnership, or after the breakdown of such marriage or partnership; or b) a Registered Pension Plan (as defined in the Tax Laws) for your benefit. Such transfers will take effect in accordance with the Tax Laws and any other applicable legislation and within a reasonable time after any required forms have been completed. If only a portion of the Plan Assets is transferred under this paragraph, you may specify in writing which Plan Assets you wish us to transfer or sell; otherwise, we will transfer or sell the Plan Assets that we deem appropriate. No transfer will be made until all fees, charges and taxes have been paid. In the event that you seek a withdrawal of some, but not all, of the Plan Assets, in accordance with the provisions herein, the Trustee reserves the right to require that all assets or certain assets other than those requested by you be distributed.

Transfers (On Relationship Breakdown or Otherwise. Subject to any reasonable requirements we impose, you may direct us in writing to transfer Plan all or part of the Fund Assets (net of any costs of realizations), less realizations and of any fees (including fees charged by the Trustee, the Agent, or any third party payable to you) or charges payable hereunder and any taxes, penalties or interest that are or may become payable or have to be withheld under the Tax Laws (other than those taxes, penalties and interest that the Trustee is liable for property we must retain under the Act and to ensure that can’t the minimum amount may be paid out of the property of the Plan), to you in that year) to: a) an RRIF under which you are the annuitant; or b) an RRSP or RRIF under which (i) you are the annuitant; or (ii) your spouse, former spouse, common-law partner or former common-law partner, from whom you are living separate and apart, is the annuitant and the transfer is made pursuant to a decree, order or judgment of a competent tribunal, or a written separation agreement, relating to a division of property in settlement of rights arising out of your marriage or common-law partnership, or after the breakdown of such marriage or partnership; or b) a Registered Pension Plan (as defined in the Tax Laws) for your benefit. Such transfers will take effect in accordance with the Tax Laws Act and any other applicable legislation and within a reasonable time after any required forms have been completed. If the transfer is to another RRIF under which you are the annuitant, we will also transfer all information necessary for the continuance of the Fund. If only a portion of the Plan Fund Assets is being transferred under this paragraph, you may specify in writing which Plan Fund Assets you wish us to transfer or sell; otherwise, we will transfer or sell the Plan Fund Assets that we deem appropriate. No transfer will be made until all fees, charges and taxes have been paid. We will be discharged from all further duties and liabilities in respect of any Fund Assets so transferred. Where a request is made under paragraph 7(a) hereof in respect of part of the Fund Assets, we reserve the right to refuse such a request, in our sole discretion. In the event that you seek a withdrawal distribution of some, but not all, of the Plan Fund Assets, in accordance with the provisions herein, the Trustee reserves the right to require that all assets or certain assets other than those requested by you be distributed.

Transfers (On Relationship Breakdown or Otherwise. Subject to any reasonable requirements we impose, you may direct us in writing to transfer Plan all or part of the Fund Assets (net of any costs of realizations), less realizations and of any fees (including fees charged by the Trustee, the Agent, or any third party payable to you) or charges payable hereunder and any taxes, penalties or interest that are or may become payable or have to be withheld property we must retain under the Tax Laws (other than those taxes, penalties and interest to ensure that the Trustee is liable for under the Act and that can’t minimum amount may be paid out of the property of the Plan), to you in that year) to: a) a. an RRIF under which you are the annuitant; or b. an RRSP or RRIF under which (i) you are the annuitant; or (ii) your spouse, former spouse, common-law partner or former common-common- law partner, from whom you are living separate and apart, is the annuitant and the transfer is made pursuant to a decree, order or judgment of a competent tribunal, or a written separation agreement, relating to a division of property in settlement of rights arising out of your marriage or common-law partnership, or after the breakdown of such marriage or partnership; or b) a Registered Pension Plan (as defined in the Tax Laws) for your benefit. Such transfers will take effect in accordance with the Tax Laws and any other applicable legislation and within a reasonable time after any required forms have been completed. If the transfer is to another RRIF under which you are the annuitant, we will also transfer all information necessary for the continuance of the Fund. If only a portion of the Plan Fund Assets is being transferred under this paragraph, you may specify in writing which Plan Fund Assets you wish us to transfer or sell; otherwise, we will transfer or sell the Plan Fund Assets that we deem appropriate. No transfer will be made until all fees, charges and taxes have been paid. In the event that you seek a withdrawal We will be discharged from all further duties and liabilities in respect of some, but not all, of the Plan Assets, in accordance with the provisions herein, the Trustee reserves the right to require that all assets or certain assets other than those requested by you be distributedany Fund Assets so transferred.

Transfers (On Relationship Breakdown or Otherwise. Subject to any reasonable requirements we impose, you may direct us in writing to transfer Plan all or part of the Fund Assets (net of any costs of realizations), less realizations and of any fees (including fees charged by the Trustee, the Agent, or any third party payable to you) or charges payable hereunder and any taxes, penalties or interest that are or may become payable or have to be withheld property we must retain under the Tax Laws (other than those taxes, penalties and interest to ensure that the Trustee is liable for under the Act and that can’t minimum amount may be paid out of the property of the Plan), to you in that year) to: a) an RRIF under which you are the annuitant; or b) an RRSP or RRIF under which (i) you are the annuitant; or (ii) your spouse, former spouse, common-law partner or former common-law partner, from whom you are living separate and apart, is the annuitant and the transfer is made pursuant to a decree, order or judgment of a competent tribunal, or a written separation agreement, relating to a division of property in settlement of rights arising out of your marriage or common-law partnership, or after the breakdown of such marriage or partnership; or b) a Registered Pension Plan (as defined in the Tax Laws) for your benefit. Such transfers will take effect in accordance with the Tax Laws and any other applicable legislation and within a reasonable time after any required forms have been completed. If the transfer is to another RRIF under which you are the annuitant, we will also transfer all information necessary for the continuance of the Fund. If only a portion of the Plan Fund Assets is being transferred under this paragraph, you may specify in writing which Plan Fund Assets you wish us to transfer or sell; otherwise, we will transfer or sell the Plan Fund Assets that we deem appropriate. No transfer will be made until all fees, charges and taxes have been paid. In the event that you seek a withdrawal We will be discharged from all further duties and liabilities in respect of some, but not all, of the Plan Assets, in accordance with the provisions herein, the Trustee reserves the right to require that all assets or certain assets other than those requested by you be distributedany Fund Assets so transferred.

Transfers (On Relationship Breakdown or Otherwise. Subject to any reasonable requirements we impose, you may direct us in writing to transfer Plan Assets (net of any costs of realizations), less any fees (including fees charged by the Trustee, the Agent, or any third party payable to you) or charges payable hereunder and any taxes, penalties or interest that are or may become payable or have to be withheld under the Tax Laws (other than those taxes, penalties and interest that the Trustee is liable for under the Act and that can’t be paid out of the property of the Plan), to: a) : a. an RRSP or RRIF under which (i) you are the annuitant; or (ii) your spouse, former spouse, common-law partner or former common-law partner, from whom you are living separate and apart, is the annuitant and the transfer is made pursuant to a decreedecree , order or judgment of a competent tribunal, or a written separation agreement, relating to a division of property in settlement of rights arising out of your marriage or common-law partnership, or after the breakdown of such marriage or partnership; or b) or b. a Registered Pension Plan (as defined in the Tax Laws) for your benefit. Such transfers will take effect in accordance with the Tax Laws and any other applicable legislation and within a reasonable time after any required forms have been completed. If only a portion of the Plan Assets is transferred under this paragraph, you may specify in writing which Plan Assets you wish us to transfer or sell; otherwise, we will transfer or sell the Plan Assets that we deem appropriate. No transfer will be made until all fees, charges and taxes have been paid. In No Advantages No advantage that is conditional in any way on the event that existence of the Plan may be extended to you seek or to a withdrawal person with whom you do not deal at arm’s length, other than the benefits and advantages permitted by the Act. Designation of someBeneficiary Where effective under applicable legislation, but not allyou may designate one or more beneficiaries to receive the Plan Assets or Plan Proceeds on your death. You may make, change or revoke a beneficiary designation by completing, dating and signing the form we provide or any other form appropriate for this purpose and ensuring we receive it before we payout the Plan under paragraph 13. If more than one form has been received by us, we will act on the one with the latest signature date. Death If you die before the Maturity Date, we will, upon receipt of satisfactory evidence of your death and all other documents we may require, transfer the Plan Assets, or sell them and payout the Plan Proceeds, to the designated beneficiary(ies) under the Plan. If you had not designated a beneficiary or if such beneficiary(ies) dies we will make such transfer or payment to your legal personal representative. Deductions will be made for all fees, costs, charges and taxes to be paid or withheld (other than taxes that the Trustee is liable for under the Act and that can’t be paid out of the property of the Plan). We will be fully discharged once we make such transfers or payments, even though any beneficiary designation made by you may be invalid as a testamentary instrument. We will not be liable for any loss caused by any delay in making any such transfer or payment. Proof of Age Your statement of your date of birth in your application will be deemed to be a certification of your age and your undertaking to provide any further evidence or proof of age that may be required for the purpose of determining the Maturity Date and acquiring a Retirement Income. Delegation You authorize us to delegate to Credential Asset Management Inc. (the “Agent”) the performance of certain of our duties, including the following: a. registering the Plan with the Canada Revenue Agency; b. receiving Contributions; c. investing the Plan Assets in accordance with this declaration; d. holding the provisions hereinPlan Assets in safekeeping, in its name or in the name of its nominee or custodian; e. maintaining your account and providing you with statements and notices; f. receiving and implementing your notices and instructions; g. collecting fees and expenses from you or the Plan; h. filing any elections permitted under the Tax Laws as directed by you or your personal representatives; i. issuing tax receipts and preparing and filing tax returns or forms relating to the Plan; j. withdrawing or transferring Plan Assets in accordance with your instructions or for the purpose of making payments to you, any government authority or any other person entitled to same under the Plan, the Trustee reserves Tax Laws or other applicable legislation; k. and any other duties relating to the right Plan as we may determine appropriate from time to require time. We will, however, bear ultimate responsibility for the administration of the Plan in accordance with this declaration and the Tax Laws. You acknowledge that we may pay the Agent all or any portion of our fees hereunder and reimburse it for its out-of-pocket expenses in performing its delegated duties. You also acknowledge that the Agent will earn normal brokerage commissions on investment transactions processed by it. You acknowledge and agree that all assets protections, limitations of liability and indemnifications given to us under this declaration, including without limitation those under paragraph 16 and 17 are also given to, and are for the benefit of, the Agent. Fees and Expenses We are entitled to receive and may charge against the Plan reasonable fees and other charges that we establish from time to time in conjunction with the Agent, provided that we will give you thirty (30) days written notice of a change in the amount of any such fee. We are also entitled to reimbursement for all taxes, penalties and interest and for all other costs and out-of-pocket expenses incurred by us or certain assets the Agent in connection with the Plan (other than those requested taxes, penalties and interest that the Trustee is liable for under the Act and that can’t be paid out of the property of the Plan). All amounts so payable will be charged against and deducted from the Plan Assets, unless you make other arrangements with us. If the cash in the Plan is not sufficient to pay these amounts, we may, in our sole discretion, sell any of the Plan Assets in order to pay same and we will not be Responsible for any loss occasioned by you be distributedany such sale.

Transfers (On Relationship Breakdown or Otherwise. Subject to any reasonable requirements we impose, you may direct us in writing to transfer Plan all or part of the Fund Assets (net of any costs of realizations), less realizations and of any fees (including fees charged by the Trustee, the Agent, or any third party payable to you) or charges payable hereunder and any taxes, penalties or interest that are or may become payable or have to be withheld property we must retain under the Tax Laws (other than those taxes, penalties and interest to ensure that the Trustee is liable for under the Act and that can’t minimum amount may be paid out of the property of the Plan), to you in that year) to: a) an RRIF under which you are the annuitant; or b) an RRSP or RRIF under which (i) you are the annuitant; or (ii) your spouse, former spouse, common-law partner partner, or former common-law partner, from whom you are living separate and apart, is the annuitant and the transfer is made pursuant to a decree, order or judgment of a competent tribunal, or a written separation agreement, relating to a division of property in settlement of rights arising out of your marriage or common-law partnership, or after the breakdown of such marriage or partnership; or b) a Registered Pension Plan (as defined in the Tax Laws) for your benefit. Such transfers will take effect in accordance with the Tax Laws and any other applicable legislation and within a reasonable time after any required forms have been completed. If the transfer is to another RRIF under which you are the annuitant, we will also transfer all information necessary for the continuance of the Fund. If only a portion of the Plan Fund Assets is being transferred under this paragraph, you may specify in writing which Plan Fund Assets you wish us to transfer or sell; otherwise, we will transfer or sell the Plan Fund Assets that we deem appropriate. No transfer will be made until all fees, charges and taxes have been paid. In the event that you seek a withdrawal We will be discharged from all further duties and liabilities in respect of some, but not all, of the Plan Assets, in accordance with the provisions herein, the Trustee reserves the right to require that all assets or certain assets other than those requested by you be distributedany Fund Assets so transferred.