Approval by Investment Advisory Contract Clients Sample Clauses

Approval by Investment Advisory Contract Clients. The parties understand that the Merger will constitute an assignment, within the meaning of the Advisers Act of the Investment Advisory Contracts. 1838 agrees to cause 1838, L.P. to inform its advisory clients of the transactions contemplated by this Agreement and to use its best efforts to obtain the consent of its clients to the assignment of their advisory contracts. Pursuant to such efforts, 1838 will notify advisory clients of the Merger and the resulting assignment of their contracts and request that such clients furnish their written consent to the assignments. It is agreed that where clients fail to furnish written consent prior to the Effective Time of Merger, such non-responding clients will continue to receive advisory services in accordance with the terms of their respective contracts and that such non-responding clients will be deemed by the parties to have consented to the assignment where such client continues to accept such advisory services for at least 15 days after the Effective Time of Merger. Clients will be advised by 1838 of the foregoing treatment of their accounts in the event that they do not provide a response to the consent request. Where a client advisory contract prohibits an assignment or provides for termination of the contract upon assignments, 1838 agrees to use its best efforts to convince clients to enter into new advisory contract with 1838, L.P. prior to the Effective Time of Merger.