Fund Certification Clause Samples
The Fund Certification clause requires a party, typically a fund manager or administrator, to formally confirm that certain financial or operational criteria have been met by the fund. This may involve providing documentation or statements verifying compliance with investment guidelines, regulatory requirements, or performance benchmarks. By mandating such certification, the clause ensures transparency and accountability, helping to build trust between parties and mitigate the risk of misrepresentation or non-compliance.
Fund Certification. The Fund shall certify on an annual basis 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 accordance with the USA Patriot Act (the “Policies”) including verification of all investors in the Funds 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) it provides for periodic, but at minimum annual, independent testing of those Policies;