Applicable Anti-Money Laundering Law definition

Applicable Anti-Money Laundering Law shall have the meaning assigned to such term in Section 6.11.

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Applicable Anti-Money Laundering Law means the Customer Identification Program requirements established under the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Title III of Pub. L. 107 56 (signed into law October 26, 2001) and its implementing regulations (collectively, USA PATRIOT Act), the Financial Crimes Enforcement Network’s (FinCEN) Customer Due Diligence Requirements and such other laws, rules, regulations and executive orders in effect from time to time applicable to banking institutions.

Applicable Anti-Money Laundering Law means, laws, rules, regulations and executive orders in effect from time to time applicable to banking institutions, including those relating to the funding of terrorist activities and money laundering, including the Customer Identification Program requirements established under the USA PATRIOT ACT and the Financial Crimes Enforcement Network’s (FinCEN) customer due diligence requirements.

Examples of Applicable Anti-Money Laundering Law in a sentence

To the fullest extent permitted by such Applicable Anti-Money Laundering Law, each of the Owner Trustee, Paying Agent and Certificate Registrar, may, so long as such Person is acting in good faith and without gross negligence or willful misconduct, conclusively rely on, and shall be fully protected and indemnified in relying on, any such information received.
Accordingly, each of the parties agrees to provide to the Indenture Trustee upon its reasonable request from time to time such identifying information and documentation as may be reasonably available for such party in order to enable the Indenture Trustee to comply with such Applicable Anti-Money Laundering Law.
The parties hereto and each Certificateholder acknowledge that in accordance with the requirements of Applicable Anti-Money Laundering Law, the Owner Trustee, the Paying Agent and Certificate Registrar, in order to help fight the funding of terrorism and money laundering, are required to obtain, verify, and record information that identifies each Person or legal entity that establishes a relationship or opens an account with the Owner Trustee, the Paying Agent or the Certificate Registrar.
In addition to the Owner Trustee's obligations under Applicable Anti-Money Laundering Law, the Corporate Transparency Act (31 U.S.C § 5336) and its implementing regulations (collectively, the “CTA” and together with Applicable Anti-Money Laundering Law, “AML Law”), may require the Trust to file reports with the U.S. Financial Crimes Enforcement Network.

More Definitions of Applicable Anti-Money Laundering Law

Applicable Anti-Money Laundering Law has the meaning set forth in Section 7.9.

Applicable Anti-Money Laundering Law has the meaning stated in Section 6.8 of the Trust Agreement.

Applicable Anti-Money Laundering Law means, laws, rules, regulations and executive orders in effect from time to time applicable to banking institutions, including those relating to the funding of terrorist activities and money laundering, including the Customer Identification Program requirements established under the USA Patriot Act, the Financial Crimes Enforcement Network’s (FinCEN) customer due diligence requirements and the Corporate Transparency Act (31 U.S.C § 5336) and its implementing regulations.

Applicable Anti-Money Laundering Law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. Accordingly, in order to comply with Applicable Anti-Money Laundering Law, the Owner Trustee will request on or before the Closing Date and from time to time thereafter reasonable documentation to verify and record information that identifies each person who opens an account. For a non-individual person such as a business entity, a charity, a trust or other legal entity, the Owner Trustee will ask for reasonable documentation to verify its formation and existence as a legal entity, financial statements, licenses, tax identification documents, and identification and authorization documents from individuals claiming authority to represent the entity or other relevant documentation and information (including beneficial owners of such entities). The Owner Trustee may, to the fullest extent permitted by Applicable Anti-Money Laundering Law, conclusively rely on, and shall be fully protected and indemnified in relying on, any such information received, and failure to provide such information may result in an inability of the Owner Trustee to perform its obligations hereunder which, at the sole option of the Owner Trustee, may result in the immediate resignation of the Owner Trustee, in accordance with Section 9.2. In addition to the Owner Trustee’s obligations under the USA PATRIOT Act, the Corporate Transparency Act (31 U.S.C. § 5336) and its implementing regulations (collectively, the “CTA”), may require the Holding Trust to file certain reports with FinCEN after the date of this Agreement. It shall be the Initial Depositor’s or the Servicer’s duty, and not the Owner Trustee’s duty, to cause the Holding Trust to make such filings or to cause the Holding Trust to comply with its obligations under the CTA, if any. The parties hereto agree that for purposes of Applicable Anti-Money Laundering Law, including without limitation the CTA as applicable, (a) until a transfer of the Holding Trust Certificate occurs after the Closing Date in compliance with the terms of this Agreement, (i) the Certificateholders (as defined in the Issuer Trust Agreement) are and shall be deemed to be the sole direct owners of the Holding Trust, and (ii) one or more Controlling Parties of the Certificateholders (as defined in the Issuer Trust Agreement) shall be deemed to be the parties with the power and authority to exercise substantial control over the Holding ...