Common use of Investment of Account Clause in Contracts

Investment of Account. All contributions to the Account and all assets in the Account shall be invested in the Fund(s) in accordance with instructions given to the Custodian by the Account Holder in a manner acceptable to the Custodian. Such instructions shall remain in effect until changed by the Account Holder in a manner acceptable to the Custodian. By giving any such instructions, the Account Holder will be deemed to have acknowledged receipt of the then current prospectus of any Fund in which the Account Holder instructs the Custodian to invest such contributions or assets. If the Custodian receives any contribution to the Account that is not accompanied by acceptable instructions directing its investment, the Custodian may hold or return all or a part of the contribution uninvested (or invested in a money market fund if available) without liability for loss of income or appreciation pending receipt of acceptable instructions.