CDD Clause Samples

The CDD (Customer Due Diligence) clause establishes the requirement for parties to verify the identity and background of their customers or counterparties before entering into a business relationship. In practice, this involves collecting and reviewing documents such as identification, proof of address, and information on the source of funds, and may also require ongoing monitoring of transactions for suspicious activity. The core function of this clause is to ensure compliance with anti-money laundering (AML) and counter-terrorism financing regulations, thereby reducing the risk of illicit activities and protecting the integrity of the business relationship.
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CDD. The Property is not conclusively classified as part of a Community Development District.
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CDD. The CDD was established pursuant to Chapter 190, Florida Statutes, which has jurisdiction over the Property. The CDD will be governed by a Board of Supervisors elected by landowners pursuant to Chapter 190, Florida Statutes. The Board of Supervisors is independent from the Board of Directors of the Association. The CDD may impose and levy taxes or assessments, or both taxes and assessments on the Lots. The taxes and assessments pay the construction, operation and maintenance costs of certain public facilities and services of the CDD and are set annually by the Board of Supervisors. These taxes and assessments are in addition to County and other governmental taxes and assessments, and all other taxes and assessments provided for by law. The CDD has the power to issue any types of bonds permitted by Chapter 190, Florida Statutes and its uniform state created charter. Commencing on the date that such CDD established jurisdiction over the Property, each Lot and the Common Area shall be burdened with perpetual, non-exclusive easements to the extent reasonably necessary for ingress, egress, and access to, and installation, maintenance, repair and replacement of, property and facilities of the CDD. Any damage resulting from the exercise of such easement shall promptly be repaired by, and at the expense of, the person exercising the easement. The Association shall have the power, and is hereby authorized, to contract with and to cooperate with the CDD in order to determine that their respective responsibilities are discharged. Each contract for the sale of a Lot shall include, immediately prior to the space reserved in the contract for the signature of the purchaser, the following disclosure statement in boldfaced type which is larger than the type in the remaining text of the contract: ARTICLE III‌
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Related to CDD

  • Procurement Project not financed with EU Funds The procurement is covered by the Government Procurement Agreement (GPA): yes

  • Local Health Integration Networks and Restructuring In the event of a health service integration with another service provider the Employer and the Union agree to meet. (a) The Employer shall notify affected employees and the Union as soon as a formal decision to integrate is taken. (b) The Employer and the Union shall begin discussions concerning the specifics of the integration forthwith after a decision to integrate is taken. (c) As soon as possible in the course of developing a plan for the implementation of the integration the Employer shall notify affected employees and the Union of the projected staffing needs, and their location.

  • Description of the Project THIS SHOULD BE NO MORE THAN A TWO PARAGRAPH DESCRIPTION THAT PROVIDES A BACKGROUND OF THE PROBLEM, AS WELL AS HOW THE CONTRACTOR INTENDS TO SOLVE THE PROBLEM. KEEP IN MIND THAT THE CONTRACT SHOULD “STAND ON ITS OWN,” I.E. ANYONE SHOULD BE ABLE TO PICK IT UP AND FIGURE OUT WHAT IS GOING ON.)

  • Access; Utilities; Separate Tax Lots Each Mortgaged Property (a) is located on or adjacent to a public road and has direct legal access to such road, or has access via an irrevocable easement or irrevocable right of way permitting ingress and egress to/from a public road, (b) is served by or has uninhibited access rights to public or private water and sewer (or well and septic) and all required utilities, all of which are appropriate for the current use of the Mortgaged Property, and (c) constitutes one or more separate tax parcels which do not include any property which is not part of the Mortgaged Property or is subject to an endorsement under the related Title Policy insuring the Mortgaged Property, or in certain cases, an application has been, or will be, made to the applicable governing authority for creation of separate tax lots, in which case the Mortgage Loan requires the Mortgagor to escrow an amount sufficient to pay taxes for the existing tax parcel of which the Mortgaged Property is a part until the separate tax lots are created.

  • PFPC System PFPC shall retain title to and ownership of any and all data bases, computer programs, screen formats, report formats, interactive design techniques, derivative works, inventions, discoveries, patentable or copyrightable matters, concepts, expertise, patents, copyrights, trade secrets, and other related legal rights utilized by PFPC in connection with the services provided by PFPC to the Fund.