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HomeMy WebLinkAboutC14-444 The Bank of New York Mellon Assignment of Investment Advisory Agreement .• p�*. • . CUTWATER ASSET MANAGEMENT October 6,2014 Ms.Karen Sheaffer Eagle County Treasurer 500 Broadway Eagle,CO 81631 Dear Ms.Sheaffer: On October 6, 2014, MBIA Inc., the owner of Cutwater Asset Management, entered into an agreement with The Bank of New York Mellon. Under this agreement,The Bank of New York Mellon has agreed to purchase all of the ownership interests of Cutwater Asset Management. The transaction is expected to be completed in early January, 2015. As you know, Cutwater Investor Services Corp. provides investment advisory services to you in connection with your account pursuant to the original Professional Services Agreement entered into with MBIA Municipal Investors Service Corporation on December 20, 2000. Under the agreement with The Bank of New York Mellon, you will continue receiving your investment advisory services from Cutwater Investor Services Corp. Under the Investment Advisers Act of 1940, the acquisition of Cutwater Asset Management by The Bank of New York Mellon is considered an"assignment"of your investment advisory agreement and we are required to obtain your consent to such assignment. In order for Cutwater to continue the servicing of your account without any unnecessary disruption, we ask that you please sign this letter and return it to us per the instructions below at your earliest convenience,but no later than November 7,2014. Please note if you consent to the assignment of your investment advisory agreement ement on or before the date on which our transaction with The Bank of New York Mellon is completed,your investment advisory agreement with us will continue on the same terms and conditions as currently in effect,and you will continue to have the right to terminate your investment advisory agreement as provided in your agreement. If, however, you do not consent on or before the date the transaction is completed,we may be required to terminate your investment advisory agreement with us. Therefore,it is extremely important that you sign this letter and return it to us as soon as possible,to waive any right to terminate your investment advisory agreement resulting from its "assignment" (as described above) and to consent to our continued service to you. We value the lasting relationship we have built with you and your organization, and we look forward to continuing to provide you with investment advisory services during this exciting event. We thank you for your continued business. Jos/ Joseph Sevely Chief Financial Officer CUTWATER ASSET MANAGEMENT t 113 King Street, Armonk, NY 10504 I 866-766-3030 I www.cutwater.com •x•••40• • CUTUVATER ASSET MANAGEMENT I hereby certify that I am authorized to consent on behalf of the client referenced above,and do hereby consent to the assignment of my advisory agreement: Date 441// Sign. re LIl . g , Print Name ` Title/Capacity Please fax or email a signed copy of this consent to the attention of Bertha Lui-McKee at 914-765-3935(fax) or bertha.lui-mckee(aicutwater.com,and mail the signed original to Bertha Lui-McKee,Cutwater Investor Services Corp.,113 King Street,Armonk,NY 10504. Thank you for your cooperation. CUTWATER ASSET MANAGEMENT 113 King Street, Armonk, NY 10504 I 866-766-3030 I www.cutwater.com