Common use of Effective Date of Conversion Election Clause in Contracts

Effective Date of Conversion Election. A Conversion Election to change a Participant’s investment of his or her Accounts in one Investment Fund to another Investment Fund will be effective with respect to such Investment Funds on the Trade Date(s) which relates to the Sweep Time on which or prior to which the Conversion Election is received and not revoked pursuant to procedures specified by the Administrator. Notwithstanding the foregoing, a Conversion Election made with respect to the Account balance of a Participant who dies on or after the Effective Date will not be valid if it is made after such time that is established by the Administrator following the date the Administrator is notified of such Participant’s death.