Common use of Source and Timing of Loan Funding Clause in Contracts

Source and Timing of Loan Funding. A loan to a Participant shall be made solely from the assets of his or her own Account. The available assets shall be taken pro-rata from the Participant’s vested Accounts, and shall likewise be taken from the Investment Funds in which such Accounts are invested, in direct proportion to the market value of the Participant’s interest in each Investment Fund as of the Trade Date on which the loan is processed. The loan shall be funded on the Settlement Date following the Trade Date as of which the loan is processed. The Trustee shall make payment to the Participant as soon thereafter as administratively reasonable.

Source and Timing of Loan Funding. A loan to a Participant shall be made solely from the assets of his or her own Account. The available assets shall be taken pro-rata from the Participant’s vested AccountsAccounts (with the exception of his or her Cash Dividends Holding Account), and shall likewise be taken from the Investment Funds in which such Accounts are invested, in direct proportion to the market value of the Participant’s interest in each Investment Fund as of the Trade Date on which the loan is processed. The loan shall be funded on the Settlement Date following the Trade Date as of which the loan is processed. The Trustee shall make payment to the Participant as soon thereafter as administratively reasonable.