Common use of Fund Liquidation and Other Events Permitting Custodian’s Exercise of Administrative Discretion Clause in Contracts

Fund Liquidation and Other Events Permitting Custodian’s Exercise of Administrative Discretion. (a) In the event that any asset held in the Account is redeemed or liquidated, matures, or is otherwise converted to cash for any reason and the Custodian does not receive timely instructions, or the instructions received cannot reasonably be carried out, or are ambiguous, the Employer and Participant each expressly directs and authorizes the Custodian to take "Any Reasonable Course of Conduct" (as defined in subsection (b) below) with respect to such proceeds.