Anti-Money Laundering Measures Sample Clauses
The Anti-Money Laundering Measures clause establishes requirements and procedures to prevent the use of the agreement or related transactions for money laundering or other illicit financial activities. Typically, this clause obligates the parties to comply with relevant laws and regulations, such as verifying the identities of counterparties, monitoring transactions for suspicious activity, and reporting any concerns to authorities. Its core function is to ensure legal compliance and protect both parties from legal and reputational risks associated with money laundering.
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Anti-Money Laundering Measures. (a) You understand and agree that the Fund prohibits the investment of funds by any persons or entities that are acting, directly or indirectly, (i) in contravention of any applicable U.S. laws and regulations, including anti-money laundering regulations or conventions, (ii) on behalf of terrorists or terrorist organizations, including those persons or entities that are included on the List of Specially Designated Nationals and Blocked Persons maintained by the U.S. Treasury Department’s Office of Foreign Assets Control1 (“OFAC”), as such list may be amended from time to time, (iii) for a senior foreign political figure, any member of a senior foreign political figure’s immediate family or any close associate of a senior foreign political figure2, unless the Fund, after being specifically notified by you in writing that an investor is such a person, conducts further due diligence or requests that you conduct further due diligence, and determines that such investment shall be permitted, or (iv) for a foreign shell bank3 (such persons or entities in (1) – (iv) are collectively referred to as “Prohibited Persons”).
(b) You undertake to:
(i) comply with all applicable U.S. laws, rules, regulations and other requirements, including those relating to anti-money laundering provisions;
(ii) establish the identity of all investors and carry out verification of the identity of such investors and hold evidence of the identities of all investors, and to the extent such an investor (other than an investor that is a publicly traded entity) has any beneficial owners4, carry out due diligence to establish the identities of such beneficial owners;
(iii) keep all records and documentation pertaining to any related due diligence procedures; 1 The OFAC list may be accessed on the web at ▇▇▇▇://▇▇▇.▇▇▇▇▇.▇▇▇/ofac. 2 Senior foreign political figure means a senior official in the executive, legislative, administrative, military or judicial branches of a foreign government (whether elected or not), a senior official of a major foreign political party, or a senior executive of a foreign government-owned corporation. In addition, a senior foreign political figure includes any corporation, business or other entity that has been formed by, or for the benefit of, a senior foreign political figure. The immediate family of a senior foreign political figure typically includes the political figure’s parents, siblings, spouse, children and in-laws. A close associate of a senior foreign pol...
Anti-Money Laundering Measures. Each Party shall comply with any obligations imposed on it from time to time by the provisions of the laws and regulations of Ireland, and AIB policies, having the purpose of preventing money laundering. In particular, and without prejudice to the generality of this Clause, the Company shall cooperate promptly and fully with any steps taken by AIBIFS to identify the Directors, authorised signatories, the shareholders and ultimate economic beneficiaries of the Company. The Company undertakes to notify AIBIFS of any change of such data provided in the course of identifying the Directors, authorised signatories, the shareholders and the ultimate economic beneficiaries of the Company within five Business days of such change taking place.
Anti-Money Laundering Measures. Each party shall comply with any obligations imposed on it from time to time by the provisions of any applicable law and regulation having the purpose of preventing money laundering. In particular, and without prejudice to the generality of this Clause, the Company shall cooperate promptly and fully with any steps taken by AIBIFS to identify the members of the Board and the GFL Board, the shareholders and the ultimate economic beneficiaries of the Company and GFL.
Anti-Money Laundering Measures. Merchant acknowledges that DEGICA has the right at any time to suspend acceptance of ▇▇▇▇▇▇▇▇'s designation of a receiving agent pursuant to Article 2 or 3 of these Special Provisions if DEGICA deems it appropriate for anti-money laundering purposes, compliance purposes, or for any other legitimate purpose or if DEGICA deems that the information submitted in accordance with these Special Provisions is false. In such case, any payments made by DEGICA to Merchant shall be made directly to Merchant and not to the receiving agent.