On-going Monitoring of Managed Account Service Sample Clauses

On-going Monitoring of Managed Account Service. If directed by the Sponsor under Section II (B) of the Agreement, IRON will provide on-going monitoring of the Managed Account Service selected by the Sponsor to determine that it remains prudent for the Sponsor to continue to offer Managed Account Service to its participants. IRON will conduct on-going fiduciary due diligence on the Managed Account Service Provider and any applicable portfolio advisor or subadvisor and, when appropriate, recommend to the Managed Account Service Provider to replace any applicable portfolio advisor or subadvisor. If any such portfolio advisor or subadvisor is not appropriately replaced and IRON believes, based on its on-going fiduciary due diligence, that it is no longer prudent for the Sponsor to continue to offer the Managed Account Service, IRON will recommend termination of the Managed Account Service in its entirety. In no event will IRON have the authority or related responsibility to recommend an alternative Managed Account Service to the Sponsor, and IRON will not have any discretionary authority over the termination of the Managed Account Service.
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