Bank Certification Clause Samples
Bank Certification. The Bank shall certify that:
(a) it has established and implemented policies, procedures and internal
(b) it has designated an individual or individuals responsible for implementing and monitoring the Policies;
(c) it has provided, and will continue to provide, ongoing training for the appropriate personnel with respect to the Policies;
(d) its Policies are functioning as intended, it has performed the specified requirements of the Fund’s CIP as requested, and except as may have been previously disclosed to the Fund’s AML Compliance Officer in writing, during the period covered by the certification, it discovered no suspicious activity reportable under applicable law or regulation with respect to the Fund and that none of the Fund’s applicants or shareholders failed any of the procedures enumerated in its Policies;
(e) it provides for periodic testing of those Policies by its internal auditors and will notify the Fund’s AML Compliance Officer in writing about the results of
(i) there have been no amendments to amendments to the Bank’s CIP Program or OFAC compliance procedures that may materially affect the Fund or, alternatively, (ii) that the Bank has materially amended the Bank’s CIP Program, which amendment may affect the Fund.
Bank Certification. A certificate of a Bank as to:
(i) the amount by which a sum payable to it hereunder is to be increased under Clause 16.1 (Gross-up); or
(ii) the amount for the time being required to indemnify it in respect of any of the circumstances mentioned in Clause 16.2 (Tax Indemnity) and Clause 17 (Increased Costs), shall be prima facie evidence in any legal action or proceeding arising out of or in connection with this Agreement.
Bank Certification. The Bank shall certify that:
(a) it has established and implemented policies, procedures and internal controls reasonably designed to prevent money laundering or the financing of terrorist activities in connection with the services it provides to the Funds, in order to achieve compliance with the USA Patriot Act (the “Policies”) and this agreement;
(b) it has designated an individual or individuals responsible for implementing and monitoring the Policies;
(c) it has provided, and will continue to provide, ongoing training for the appropriate personnel with respect to the Policies;
(d) its Policies are functioning as intended, it has performed the specified requirements of the Fund’s CIP as requested, and except as may have been previously disclosed to the Fund’s AML Compliance Officer in writing, during the period covered by the certification, it discovered no suspicious activity reportable under applicable law or regulation with respect to the Fund and that none of the Fund’s applicants or shareholders failed any of the procedures enumerated in its Policies;
(e) it provides for periodic testing of those Policies by its internal auditors and will notify the Fund’s AML Compliance Officer in writing about the results of any such testing that could be adverse to the Fund’s interests; and
(i) there have been no amendments to amendments to the Bank’s CIP Program or OFAC compliance procedures that may materially affect the Fund or, alternatively, (ii) that the Bank has materially amended the Bank’s CIP Program, which amendment may affect the Fund.
Bank Certification. A Certification from BDO Capital and Investments, Inc., the Lead Arranger of the financing for the Project, on the principal amortization, term and interest of the respective loan agreements for the Project is attached to the Application as Annex "W" and made an integral part hereof.