Common use of Investment Grade Rating Clause in Contracts

Investment Grade Rating. The Contributions Procedure shall provide at all times that each Series is rated AAAm by Standard & Poor’s Corporation pursuant to the terms of the Administration Agreement. The Administrator shall disclose to each Participant at the annual meeting of the Governing, Board the rating of each Portfolio and disclose to each Participant immediately in writing any change in the rating of any Portfolio.

Investment Grade Rating. The Contributions Procedure shall provide at all times that each Series is rated AAAm by Standard & Poor’s Corporation pursuant to the terms of the Administration Agreement. The Administrator shall disclose to each Participant at the annual meeting of the Governing, Governing Board the rating of each Portfolio and disclose to each Participant immediately in writing any change in the rating of any Portfolio.