Common use of Upon Bank’s approval Clause in Contracts

Upon Bank’s approval. the Client shall have a right to initiate amendments to the Portfolio strategy by informing the Bank in writing. Amendments of the Portfolio strategy shall be executed between the Parties in writing. The Client understands and accepts that any amendments to the Portfolio strategy might have a negative impact on the objectives pursued by the Bank, since these objectives may only be achieved, as a matter of principle, within the time-frame applicable to the Portfolio strategy applied by the Bank.