Common use of Default Notification Clause in Contracts

Default Notification. The Client must notify AX Financials immediately if it becomes aware of any Default Event referred to in paragraph 18.2 above. 19. Anti-Money Laundering and Countering Financing of Terrorism AML Compliance: The Client undertakes that it will not do anything to put AX Financials in breach of the AML/CFTA Law or Applicable Law. The Client will notify AX Financials immediately if it becomes aware of anything that would put AX Financials in breach of the AML/CFT Law or Applicable Law. No Grounds for Suspicion: The Client undertakes that it is not aware and has no reason to suspect that the money it is depositing into the AX Financials Account: Is derived from or related to money laundering, terrorism financing or similar activities (Illegal Activities); Will be used to finance, or in connection with, Illegal Activities; Is or may be relevant to the investigation or prosecution of any person for a money laundering offence; Is or may be relevant to the enforcement of the Criminal Proceeds (Recovery) Act 2009 or the Terrorism Suppression Act 2002.

Default Notification. The Client must notify AX Financials immediately if it becomes aware of any Default Event referred to in paragraph 18.2 above. 19. Anti-Money Laundering and Countering Financing of Terrorism AML Compliance: The Client undertakes that it will not do anything to put AX Financials in breach of the AML/CFTA Law or Applicable Law. The Client will notify AX Financials immediately if it becomes aware of anything that would put AX Financials in breach of the AML/CFT Law or Applicable Law. No Grounds for Suspicion: The Client undertakes that it is not aware and has no reason to suspect that the money it is depositing into the AX Financials Account: Is derived from or related to money laundering, terrorism financing or similar activities (Illegal Activities); Will be used to finance, or in connection with, Illegal Activities; Is or may be relevant to the investigation or prosecution of any person for a money laundering offence; Is or may be relevant to the enforcement of the Criminal Proceeds (Recovery) Act 2009 or the Terrorism Suppression Act 2002.