Common use of Termination and Reappointment by You Clause in Contracts

Termination and Reappointment by You. You may terminate Envestnet’s authority with respect to any or all of the assets in your Access Accounts at any time by providing appropriate notice to Sponsor as described in Section 17. Upon receipt of such notice, Sponsor will provide Envestnet with appropriate notice of the termination, and such termination will take effect immediately following Envestnet’s receipt of the notice. Envestnet will proceed with your request to move the prior Strategist’s portion of the Program Account to the new Strategist’s model as soon as is reasonably practicable after receiving any necessary documentation. If you are engaged in a consolidated advisory fee relationship, when your AFPS is terminated, either by your or by Sponsor, you will no longer be charged a consolidated advisory fee. This will not terminate your Access Account, nor will it terminate your Wrap Fee and other costs associated with your Access Account.