Common use of Frequency of Review Clause in Contracts

Frequency of Review. The INVESTMENT MANAGER shall periodically conduct a comprehensive account review which shall include both the administrative and investment aspects of the PORTFOLIO. The INVESTMENT MANAGER shall also update the Suitability Assessment Form (SAF), and IPPS if applicable, at least every three (3) years or at such frequency as may be required under the Manual of Regulations for Banks (“MORB”) unless sooner necessitated by the PRINCIPAL. In the event that the PORTFOLIO is invested in complex investment products such as financial derivatives, the SAF, and IPPS if applicable, shall be updated at least annually or at such frequency as may be required under the MORB. If the PRINCIPAL fails to update the SAF, and IPPS if applicable, despite written notices from the INVESTMENT MANAGER, the INVESTMENT MANAGER shall continue to apply the latest SAF and IPPS for any subsequent principal contributions to the account, until these are amended or updated by the PRINCIPAL. The written notice may be in the form of electronic mail sent to the designated e-mail address of the PRINCIPAL or via other Metrobank electronic platforms where the PRINCIPAL is enrolled.

Frequency of Review. The INVESTMENT MANAGER shall periodically conduct a comprehensive account review which shall include both the administrative and investment aspects of the PORTFOLIO. The INVESTMENT MANAGER shall also update the Suitability Assessment Form (SAF), and IPPS if applicable, at least every three (3) years or at such frequency as may be required under the Manual of Regulations for Banks (“MORB”) unless sooner necessitated by the PRINCIPAL. In the event that the PORTFOLIO is invested in complex investment products such as financial derivatives, the SAF, and IPPS if applicable, and IPPS shall be updated at least annually or at such frequency as may be required under the MORB. If the PRINCIPAL fails to update the SAF, and IPPS if applicable, despite written notices from the INVESTMENT MANAGER, the INVESTMENT MANAGER shall continue to apply the latest SAF and IPPS for any subsequent principal contributions to the accountAccount, until these are amended or updated by the PRINCIPAL. The written notice may be in the form of electronic mail sent to the designated e-mail address of the PRINCIPAL or via other Metrobank electronic platforms where the PRINCIPAL is enrolled.