Common use of OFAC Reporting Clause in Contracts

OFAC Reporting. (a) Transfer Agent will satisfy itself, through appropriate due diligence, that Accounts will not cause Fund or Transfer Agent to violate any of the U.S. federal statutes, regulations, Executive Orders and other programs administered by the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of the Treasury (collectively the “Sanctions Programs”). (b) Transfer Agent shall screen Accounts against the current list published by OFAC, including the OFAC list of Specially Designated Nationals and Blocked Persons and will provide timely notice to Fund of any confirmed matches as they are detected, and will reasonably cooperate with Fund in the investigation and resolution of any such matters, as applicable. (c) Transfer Agent will, as required by the Sanctions Programs, block or reject any Account or transactions subject to a Sanctions Program, and will file reports of any blocked property and rejected transactions with the appropriate authorities. To the extent that Fund and Transfer Agent are both required to file such reports, each party will, to the extent permissible by law, provide the other with any information in its possession necessary for the other party to comply with its obligations under applicable laws and regulations.

OFAC Reporting. (a) Transfer Agent will satisfy itself, through appropriate due diligence, that Accounts will not cause Fund Company or Transfer Agent to violate any of the U.S. federal statutes, regulations, Executive Orders and other programs administered by the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of the Treasury (collectively the “Sanctions Programs”). (b) Transfer Agent shall screen Accounts against the current list published by OFAC, including the OFAC list of Specially Designated Nationals and Blocked Persons Persons, and will provide timely notice to Fund Company of any confirmed matches as they are detected, and will reasonably cooperate with Fund Company in the investigation and resolution of any such matters, as applicable. (c) Transfer Agent will, as required by the Sanctions Programs, block or reject any Account or transactions subject to a Sanctions Program, and will file reports of any blocked property and rejected transactions with the appropriate authorities. To the extent that Fund Company and Transfer Agent are both required to file such reports, each party will, to the extent permissible by law, provide the other with any information in its possession necessary for the other party to comply with its obligations under applicable laws and regulations.