Common use of Cash Sweep Clause in Contracts

Cash Sweep. For most account types, uninvested cash balances are automatically deposited each day in one or more FDIC-insured depository accounts at affiliated and unaffiliated Program Banks ("Expanded Bank Deposit Sweep"); provided, however, that another sweep vehicle, such as the Standard Bank Deposit Sweep or a money market mutual fund, may be used for ERISA or IRA accounts in the limited instance that such sweep vehicle is necessary for compliance with applicable law. WFA, RIA and the Program Banks benefit financially from cash balances held in the Expanded Bank Deposit Sweep. For additional information about the Expanded and Standard Bank Deposit Sweep programs, including information about how WFA, RIA and the Program Banks benefit from them, see the Cash Sweep Program Disclosure Statement provided below.

Cash Sweep. For most account types, uninvested cash balances are automatically deposited each day in one or more FDIC-insured depository accounts at affiliated and unaffiliated Program Banks ("Expanded Bank Deposit Sweep"); provided, however, that another sweep vehicleoption, such as the Standard Bank Deposit Sweep or a money market mutual fund, may be used for ERISA or IRA accounts in the limited instance that such sweep vehicle option is necessary for compliance with applicable law. WFA, RIA and the Program Banks benefit financially from cash balances held in the Expanded Bank Deposit Sweep. For additional information about the Expanded and Standard Bank Deposit Sweep programs, including information about how WFA, RIA and the Program Banks benefit from them, see the Cash Sweep Program Disclosure Statement provided below.