Common use of Conversion Contributions Clause in Contracts

Conversion Contributions. The Custodian will accept for the Custodial Account any or all distributions from an IRA, other than a Xxxx XXX (including a SEP IRA, SARSEP IRA, or a SIMPLE IRA, which consist of cash, for deposit into a Xxxx XXX (“conversion contribution(s)”). The Custodian may, but shall be under no obligation to, accept all or any part of any other conversion contribution(s) as permitted under Code Section 408A. The Depositor shall designate each conversion contribution as such to the Custodian and by such designation shall confirm to the Custodian that a proposed conversion contribution qualifies as a conversion within the meaning of Sections 408A(c)(3), 408A(d)(3) and 408A(e) of the Code, except that any conversion contribution shall not be considered a rollover contribution for purposes of Section 408(d)(3)(B) of the Code relating to the one-rollover-per-year rule.

Conversion Contributions. The Custodian will accept for the Custodial Account any or all distributions from an IRA, other than a Xxxx XXX (including a SEP SEP-IRA, SARSEP SARSEP-IRA, or a SIMPLE IRA, which consist of cash, for deposit into a Xxxx XXX (“conversion contribution(s)”). The Custodian may, but shall be under no obligation to, accept all or any part of any other conversion contribution(s) as permitted under Code Section 408A. The Depositor shall designate each conversion contribution as such to the Custodian and by such designation shall confirm to the Custodian that a proposed conversion contribution qualifies as a conversion within the meaning of Sections 408A(c)(3), 408A(d)(3) and 408A(e) of the Code, except that any conversion contribution shall not be considered a rollover contribution for purposes of Section 408(d)(3)(B408(d) (3)(b) of the Code relating to the one-rollover-per-year rule.

Conversion Contributions. The Custodian will accept for the Custodial Account any or all distributions from an IRAXXX, other than a Xxxx XXX (including a SEP IRAXXX, SARSEP IRAXXX, or a SIMPLE IRAXXX, which consist of cash, for deposit into a Xxxx XXX (“conversion contribution(s)”). The Custodian may, but shall be under no obligation to, accept all or any part of any other conversion contribution(s) as permitted under Code Section 408A. The Depositor shall designate each conversion contribution as such to the Custodian and by such designation shall confirm to the Custodian that a proposed conversion contribution qualifies as a conversion within the meaning of Sections 408A(c)(3), 408A(d)(3) and 408A(e) of the Code, except that any conversion contribution shall not be considered a rollover contribution for purposes of Section 408(d)(3)(B) of the Code relating to the one-rollover-per-year rule.