Common use of Termination and Reappointment by You Clause in Contracts

Termination and Reappointment by You. You may terminate the Active Portfolios Investment Manager’s authority with respect to any or all of the assets in your Active Portfolios Account(s) at any time by providing appropriate notice to Sponsor as described in Sections 17 and 19. Upon receipt of such notice, Sponsor will provide the Investment Manager with appropriate notice of the termination, and such termination will take effect immediately following the Investment Manager’s receipt of the notice. Sponsor will proceed with your request to appoint a new Investment Manager as soon as is reasonably practicable after receiving any necessary documentation.

Termination and Reappointment by You. You may terminate the Active Portfolios Investment Manager’s authority with respect to any or all of the assets in your Active Portfolios Account(s) at any time by providing appropriate notice to Sponsor as described in Sections 17 23 and 19. 24 of Part I. Upon receipt of such notice, Sponsor will provide the Investment Manager with appropriate notice of the termination, and such termination will take effect immediately following the Investment Manager’s receipt of the notice. Sponsor will proceed with your request to appoint a new Investment Manager as soon as is reasonably practicable after receiving any necessary documentation.