Common use of TRANSFERS TO ANOTHER FUNDING AGENT Clause in Contracts

TRANSFERS TO ANOTHER FUNDING AGENT. (a) At the Request of a Participant: The Withdrawal Value of a Participant's Account may be transferred to an individual retirement account or individual retirement annuity contract provided by another financial institution. The transfer may be made directly to that institution or by a payment (or payments) to the Participant who then makes payment to the institution. The transfer will normally be made within seven days after Prudential's receipt of a duly completed transfer request. The transfer will be in full settlement of Prudential's liability for the Participant's Account.