I believe that the AdWords account would have to be closed and you would have to open up a new account. Understandably, this is not ideal as you would loose any history that you hvae built up in your AdWords account. Plus, there is the hassel of copying and pasting everything you have over to the new account; a relatively simple process using Google Desktop Editor but still a bit of a hassle non-the-less.

Before you do all that, let me check with my Google Grants contact. There may be a work around, but I do not think so.

Myself or a Googler will post back as soon as we know something.

All the best,

Robert