Common use of AML Reporting Clause in Contracts

AML Reporting. Ultimus agrees to (i) provide anti-money laundering screening for the BDC’s direct investors domiciled in the United States, which shall include initial comparison of investor information against OFAC and other watch lists (and including screening of any 10% underlying beneficial owner of a Shareholder) and providing the BDC with any exceptions in accordance with Ultimus’ AML policies and procedures; and (ii) perform customer identification for these shareholders, in each case in accordance with the written procedures developed by ▇▇▇▇▇▇▇ and adopted or approved by the Board and with applicable law and regulations. Ultimus shall also: (i) systematically compare updates against investor name for each update of the OFAC list; (ii) periodically monitor existing investors in accordance with Ultimus’ AML policies and procedures; (iii) as agreed with the BDC, support AML screening for new and existing "high risk" Shareholders, as applicable (which shall include, without limitation, providing a periodic written report to the BDC with respect to any such "high risk" Shareholder); (iv) file Suspicious Activity Reports, if any, with the appropriate reporting authorities; (v) provide AML certification report upon request; and (vi) perform adverse media reviews on all shareholders based on Ultimus’ BSA standards including ongoing monitoring for all shareholders.

AML Reporting. Ultimus agrees to (i) provide anti-money laundering screening for the BDC’s direct investors domiciled in the United States, which shall include initial comparison of investor information against OFAC and other watch lists (and including screening of any 10% underlying beneficial owner of a Shareholder) and providing the BDC with any exceptions in accordance with Ultimus’ AML policies and procedures; and (ii) perform customer identification for these shareholders, in each case in accordance with the written procedures developed by ▇▇▇▇▇▇▇ and adopted or approved by the Board and with applicable law and regulations. Ultimus shall also: (i) systematically compare updates against investor name for each update of the OFAC list; (ii) periodically monitor existing investors in accordance with Ultimus’ AML policies and procedures; (iii) as agreed with the BDC, support AML screening for new and existing "“high risk" ” Shareholders, as applicable (which shall include, without limitation, providing a periodic written report to the BDC with respect to any such "“high risk" ” Shareholder); (iv) file Suspicious Activity Reports, if any, with the appropriate reporting authorities; (v) provide AML certification report upon request; and (vi) perform adverse media reviews on all shareholders based on Ultimus’ BSA standards including ongoing monitoring for all shareholders.