Illegal Proceeds definition

Illegal Proceeds means any proceeds (i) derived from Money Laundering Activities and/or Racketeering Activities; (ii) procured in violation of the FCPA or applicable Mexican anti-bribery, or similar laws; or (iii) derived from an Illegal Source.
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Illegal Proceeds. Any proceeds (1) derived from Money Laundering Activities and/or Racketeering Activities; (2) procured in violation of applicable anti-bribery or Foreign Corrupt Practices Act related laws; and/or (3) derived from an Illegal Source.
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Examples of Illegal Proceeds in a sentence

  • See U.S. Government Accountability Office (GAO), Moving Illegal Proceeds: Opportunities Exist for Strengthening the Federal Government’s Efforts to Stem Cross-Border Currency Smuggling GAO 11-407, March 9, 2011.

  • Government Accountability Office, Testimony Before the Senate Caucus on International Narcotics Con- trol, “Moving Illegal Proceeds: Opportunities Exist for Strengthening the Federal Government’s Efforts to Stem Cross-Border Currency Smuggling,” March 9, 2011.

  • Press Release, Department of Justice Seeks to Recover Approximately $3 Million in Illegal Proceeds from Foreign Bribe Payments (Jan.

  • Law No.192-IV “On Amendments to Certain Legislative Acts of the Republic of Kazakhstan on Combating Legalization (Laundering) of Illegal Proceeds and Financing of Terrorism”, adopted along with the AML/CFT Law, introduced the appropriate amendments and modification into 26 legislative acts of the country that regulated the activities of the entities subject to financial monitoring, their industry regulators and government agencies.

  • INDUSTRY SUBMISSION REGARDING THE ESTABLISHMENT OF A LOCAL APPROVED PRODUCTS POLICY.

  • Its exclusive point of contact for information exchange with Czech law-enforcement bodies is the Illegal Proceeds and Tax Crime Unit (see 6.4.1.3.).

  • In Mexico, Federal Law for the Prevention and Identification of Operations with Resources of Illegal Proceeds was reformed in March 2018 to establish as a Vulnerable Activity the exchange of VAs made by entities other than Financial Technology Institutions and Credit Institutions.160.292.

  • Kazakhstan has a broad range of legislation designed to combat corruption including, among others, the Law on Fighting Corruption (1998), the Law on Preventing Legalisation (Laundering) of Illegal Proceeds and Financing of Terrorism (2009) and the Law on Law Enforcement Bodies (2011).

  • G20 PRINCIPLE 7: DUTIES OF BUSINESS AND PROFESSIONSScore: 74% Financial Institutions Score: 69%The Federal Law for the Prevention and Identification of Transactions with Illegal Proceeds establishes that financial institutions are required to collect and verify information about a customer or beneficial owner.

  • The Sophisticated Means to Launder the Illegal Proceeds The PSRs correctly concluded that the sophisticated moneylaundering enhancement under U.S.S.G. § 2S1.1(b)(3) (HB Revised PSR¶ 66; QB PSR ¶ 69) was applicable.

Related to Illegal Proceeds

  • Illegal product means any product derived in whole or in part from illegal oil or illegal gas.

  • Illegal Activity means the wilful possession of an illegal drug, dangerous object, or stolen item.

  • Legal Proceeding means any action, suit, litigation, arbitration, proceeding (including any civil, criminal, administrative, investigative or appellate proceeding), hearing, inquiry, audit, examination or investigation commenced, brought, conducted or heard by or before, or otherwise involving, any court or other Governmental Body or any arbitrator or arbitration panel.

  • Proceeds all “proceeds” as such term is defined in Section 9-102(a)(64) of the New York UCC and, in any event, shall include, without limitation, all dividends or other income from the Investment Property, collections thereon or distributions or payments with respect thereto.

  • Insurance Proceeds With respect to each Mortgage Loan, proceeds of insurance policies insuring the Mortgage Loan or the related Mortgaged Property.

  • Capital Proceeds means the gross receipts received by the Company from a Capital Transaction.

  • Condemnation Proceeds All awards or settlements in respect of a Mortgaged Property, whether permanent or temporary, partial or entire, by exercise of the power of eminent domain or condemnation, to the extent not required to be released to a Mortgagor in accordance with the terms of the related Mortgage Loan Documents.

  • Termination Proceeds means any Purchase Option Price received upon the purchase of a 20[__]-[__] Vehicle by the related Lessee or the price received from the sale of a 20[__]-[__] Vehicle to a dealer minus amounts included in either such price that represent reimbursement for third-party charges paid or payable (such as fees and taxes).

  • Net Condemnation Proceeds The Condemnation Proceeds received with respect to any Mortgage Loan or Serviced Companion Loan (including an REO Mortgage Loan or REO Companion Loan) net of the amount of (i) costs and expenses incurred with respect thereto and (ii) amounts required to be applied to the restoration or repair of the related Mortgaged Property; provided that, in the case of an Outside Serviced Mortgage Loan, “Net Condemnation Proceeds” under this Agreement shall be limited to any related Condemnation Proceeds that are received by the Trust Fund in connection with such Outside Serviced Mortgage Loan, pursuant to the allocations set forth in the related Co-Lender Agreement.

  • Declined Proceeds has the meaning assigned to such term in Section 2.11(b)(v).

  • Principal Proceeds means, with respect to any Collection Period or the related Determination Date, all amounts received by the Borrower during such Collection Period that do not constitute Interest Proceeds, including unapplied proceeds of the Advances and any amounts received by the Borrower as equity contributions (howsoever designated).

  • Repurchase Proceeds the Repurchase Price in connection with any repurchase of a Mortgage Loan by the Seller and any cash deposit in connection with the substitution of a Mortgage Loan.

  • Disposition Proceeds means, with respect to each Group I/II Non-Program Vehicle, the net proceeds from the sale or disposition of such Group I/II Eligible Vehicle to any Person (other than any portion of such proceeds payable by the Group I/II Lessee thereof pursuant to any Group I/II Lease).

  • REO Disposition Proceeds All amounts received with respect to an REO Disposition pursuant to Section 4.16.

  • Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower, any Parent Guarantor or any of their respective Subsidiaries in connection therewith, but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first-priority Lien permitted by Section 7.2.3 on the property which is the subject of such Casualty Event.

  • Disposal Proceeds means the proceeds of a Non-Distressed Disposal (as defined in paragraph (b) below).

  • Collateral Proceeds means the Liquidation Proceeds of the Relevant Collateral or any Undeliverable Assets forming part of the Relevant Collateral (as the case may be) denominated in the Settlement Currency.

  • Insurance and Condemnation Proceeds shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Illegal use of drugs means the use of drugs, the possession or distribution of which is unlawful. Such term does not include the use of a drug taken under the supervision by a licensed health care professional.

  • Purchase Proceeds means any cash amounts received by the Master Servicer in connection with: (i) the repurchase of a Mortgage Loan or an REO Mortgage Loan by a Seller pursuant to Section 2.3, (ii) the purchase of the Mortgage Loans and REO Properties by the Holders of the Controlling Class, the Master Servicer, the Special Servicer, the Holders of the Class R Certificates or any other applicable Person pursuant to Section 11.1(b), (iii) the purchase of an A Note by a holder of the related B Note in accordance with the terms of the related Intercreditor Agreement or (iv) the purchase of a Mortgage Loan by a holder of a mezzanine loan under the related mezzanine intercreditor agreement.

  • Legal Process means a writ of attachment, lien, levy, subpoena, warrant, or other legal order.

  • Mineral proceeds means amounts payable for the extraction, production, or sale of minerals, or upon the abandonment of those payments, all payments that become payable thereafter. “Mineral proceeds” includes amounts payable as follows:

  • Illegal drugs means a controlled substance except for those legally possessed or used under the supervision of a licensed health-care professional or that is legally possessed or used under any other authority under the Controlled Substances Act or any other federal law.

  • Enforcement Proceeds means the gross proceeds from the realisation of Vehicles in respect of Purchased Receivables and from the enforcement of any other Ancillary Rights.

  • Option Proceeds means the cash actually received by the Company for the exercise price in connection with the exercise of Options that are exercised after the Effective Date of the Plan, plus the maximum tax benefit that could be realized by the Company as a result of the exercise of such Options, which tax benefit shall be determined by multiplying (i) the amount that is deductible for Federal income tax purposes as a result of any such option exercise (currently, equal to the amount upon which the Participant’s withholding tax obligation is calculated), times (ii) the maximum Federal corporate income tax rate for the year of exercise. With respect to Options, to the extent that a Participant pays the exercise price and/or withholding taxes with Shares, Option Proceeds shall not be calculated with respect to the amounts so paid in Shares.

  • Illegality Event means that: