Customer Identification Program definition
Customer Identification Program shall have the meaning set forth in Section 34 hereof.
Customer Identification Program shall have the meaning set forth in Section 5.18.
Customer Identification Program. (“CIP”) Services.
(a) To help the GE Fund Products comply with their Customer Identification Programs (which the GE Fund Products are required to have under regulations issued under Section 326 of the USA PATRIOT Act) PFPC will do the following:
(i) Implement procedures under which new accounts in the GE Fund Products are not established unless PFPC has obtained the name, date of birth (for natural persons only), address and government-issued identification number (collectively, the “Data Elements”) for each corresponding Customer (as defined in 31 CFR 103.131).
(ii) Use collected Data Elements to attempt to reasonably verify the identity of each new Customer promptly before or after each corresponding new account is opened. Methods may consist of non-documentary methods (for which PFPC may use unaffiliated information vendors to assist with such verifications) and documentary methods (as permitted by 31 CFR 103.131), and may include procedures under which PFPC personnel perform enhanced due diligence to verify the identities of Customers the identities of whom were not successfully verified through the first-level (which will typically be reliance on results obtained from an information vendor) verification process(es).
(iii) Record the Data Elements and maintain records relating to verification of new Customers consistent with 31 CFR 103.131(b)(3).
(iv) Regularly report to the GE Fund Products about measures taken under (i)-(iii) above.
(v) If PFPC provides services by which prospective Customers may subscribe for Shares via the Internet or telephone, work with the GE Fund Products to notify prospective Customers, consistent with 31 CFR 103.(b)(5), about the GE Fund Products’ CIP.
(vi) Set forth on a separate fee schedule compensation amounts due for these CIP services.
(b) Notwithstanding anything to the contrary, and without expanding the scope of the express language above, PFPC need not collect the Data Elements for (or verify) prospective customer (or accounts) beyond the requirements of relevant regulation (for example, PFPC will not verify customers opening accounts through NSCC) and PFPC need not perform any task that need not be performed for the fund to be in compliance with relevant regulation.
(c) Notwithstanding anything to the contrary, PFPC need not perform any of the steps described above with respect to persons purchasing Shares via exchange privileges.
Examples of Customer Identification Program in a sentence
Each Fund hereby acknowledges that Custodian is subject to federal laws, including the Customer Identification Program (CIP) requirements under the USA PATRIOT Act and its implementing regulations, pursuant to which Custodian must obtain, verify and record information that allows Custodian to identify its customers.
To help the government fight the funding of terrorism and money laundering activities, the Customer Identification Program (CIP) 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.
The Company agrees that the Rights Agent cannot accept an appointment hereunder unless and until the Rights Agent verifies the Company’s identity in accordance with the Customer Identification Program requirements.
The Lender shall have received (i) clear searches on the Borrower through the Office of Foreign Assets Control and (ii) all documentation necessary for Customer Identification Program and verification.
In order to comply with 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 Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Title III of Pub.
More Definitions of Customer Identification Program
Customer Identification Program has the meaning set forth in Section 9.15 hereof.
Customer Identification Program means a process whereby Firstmark screens and monitors applicants under certain of the regulations promulgated by the Office of Foreign Assets Control (“OFAC”) and in connection with the USA Patriot Act in an effort to determine if such persons appear on any lists maintained by OFAC and determining whether any potential transaction may constitute suspicious activity.
Customer Identification Program shall have the meaning set forth in Section 5.20. “Election to Exercise” shall have the meaning set forth in Section 2.3(d). “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. “Exchange Ratio” shall have the meaning set forth in Section 3.1(c).
Customer Identification Program. To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means to you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. The information is being requested and observed for compliance with the requirements of Section 326 of the USA PATRIOT Act related to implementing customer identification and verification requirements.
Customer Identification Program means a process whereby Firstmark screens and monitors applicants under certain of the regulations promulgated by the Office of Foreign Assets Control (“OFAC”) and in connection with the USA Patriot Act in an effort to determine if such persons appear on any lists maintained by OFAC and determining whether any potential transaction may constitute suspicious activity. 1-10. “Education Loan” means a consumer loan made or to be made to a Borrower for the funding of expenses in connection with such Borrower’s post-secondary education and/or education related to professional certifications, and which is not insured or guaranteed by, or made pursuant to a program sponsored by, a state or federal government or governmental agency. 1-11. “Effective Date” means the date set forth in the preamble to this Agreement. 1-12. “Fees” means the amounts to be paid by Lender to Firstmark for the Services, as further set forth in Section 2-8 hereof. 1-13. “Force Majeure" means, without limitation, the following: acts of God, strikes, lockouts, or other industrial disturbances; acts of public enemies; order or restraint of any kind of the government of the United States of America or of any state or locality in which a party is doing business or any of their departments, agencies or officials, or any civil or military authority; insurrections; riots; landslides; earthquakes; fires; storms; droughts; floods; explosions; breakage or accident to machinery, equipment, transmission pipes or canals; or any other cause or event not reasonably within the control of the party.
Customer Identification Program has the meaning set forth in 31 CFR 103.121 Federal Regulations.
Customer Identification Program means a risk-based program that includes policies, procedures and controls to (i) verify the identity of the person (consumer or entity) seeking to open an account or otherwise conduct business with Client, (ii) maintain records of the information used to verify identity and (iii) consult government lists of known or suspected terrorists or terrorist’s organizations to confirm that the person is not on any list.