Common use of Effective Election Clause in Contracts

Effective Election. Any election for the purposes of this Section 1.6 will be effective only if the Exchange Agent has received a properly completed and signed Form of Election with the associated certificate(s) representing shares of WesterFed Common Stock by the Election Deadline. The "Election Deadline" means 7:00 p.m., Mountain Time, on the date of the WesterFed shareholders meeting ("WesterFed Meeting") called to vote on the adoption of this Agreement. A Form of Election may be revoked or changed by the person submitting such Form of Election or any other person to whom the subject shares are subsequently transferred by written notice by such person to the Exchange Agent at or prior to the Election Deadline. All Forms of Elections will be deemed to be revoked if the Exchange Agent is notified in writing by either Glacier or WesterFed that this Agreement has been terminated in accordance with its terms and the Exchange Agent shall promptly return certificates representing shares of WesterFed Common Stock to those persons who submitted such certificates to the Exchange Agent.