Common use of Investment Elections Clause in Contracts

Investment Elections. Each Participant shall elect the manner in which his Account and any future contributions thereto are to be invested from among such funds as the Administrator directs the person or entity holding the Plan Assets to make available and any other legally permissible investment which the person or entity holding the Plan Assets agrees to hold. Such an election shall be effective as soon thereafter upon receipt of the election as is practicable. An investment election must be made in the manner specified by the Committee. If a Participant fails to make an election, then his Account shall be invested as provided by the Committee.