Common use of Share Redemptions Clause in Contracts

Share Redemptions. If cash is needed to pay taxes, fees, or other expenses properly chargeable to the Account or to make payments to the Employee or Beneficiary under Article 5, the Employee (or Beneficiary, if applicable) will instruct the Custodian in writing which Fund should be redeemed or sold if the Account is invested in more than one Fund. In the absence of such written instructions, the Custodian will redeem shares of all Funds in the Account in proportion to the value of the shares of each such Fund held in the Account and will be fully protected in so doing.

Share Redemptions. If cash is needed to pay taxes, fees, or other expenses properly proper- ly chargeable to the Account or to make payments to the Employee or Beneficiary under Article 5, the Employee (or Beneficiary, if applicable) will instruct the Custodian in writing which Fund should be redeemed or sold if the Account is invested in more than one Fund. In the absence of such written instructionsinstruc- tions, the Custodian will redeem shares of all Funds in the Account in proportion to the value of the shares of each such Fund held in the Account and will be fully protected pro- tected in so doing.