Illicit Origin definition

Illicit Origin means any origin which is illicit or fraudulent, or in breach of Sanctions including without limitation, drug trafficking, corruption, organised criminal activities, terrorism, money laundering or fraud.

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Illicit Origin means funds obtained through: (i) the commission of any predicate offence as designated in the FATF 40 Recommendations Glossary (▇▇▇▇://▇▇▇.▇▇▇▇- ▇▇▇▇.▇▇▇/▇▇▇▇▇/▇▇▇▇▇▇▇▇/▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇/▇-▇/), (ii) Corrupt Practice, and (iii) if or when applicable, through Fraud against the Financial Interests of the European Communities.

Illicit Origin means funds obtained through:

Examples of Illicit Origin in a sentence

No payments made by the Guarantor in respect of amounts due under the Loan Agreement or any Finance Document shall be funded out of funds of Illicit Origin and none of the sources of funds to be used by the Guarantor in connection with the construction of the Ship or its business shall be of Illicit Origin.
The Company and the Sponsors represent that the equity, quasi equity and shareholders loans’ accounts invested in the Company and its Subsidiaries or in their Operations are not of Illicit Origin.
No waiver, alteration, amendment, modification of this Agreement, or any covenant, condition, or limitation herein contained is valid unless in writing and duly executed by the Party to be charged therewith.
The Company and the Sponsors represent that the equity quasi equity and shareholders loans’ accounts invested in the Company and its Subsidiaries or in their Operations are not of Illicit Origin.
Illicit Origin of Funds • The Company’s and each of its Subsidiary’s equity, quasi equity and shareholders loans’ accounts are of Illicit Origin.
No funds invested in the shares in the Borrower or any Shareholder by way of shareholder contributions or otherwise are of Illicit Origin.
The Company represents that the Company and AZI’s equity, quasi equity and shareholders’ loan accounts and current accounts are not of Illicit Origin.
Each of the Sponsors represent that AZI’s and the Company’s equity, quasi equity and shareholders’ loan accounts and current accounts are not of Illicit Origin.
The Company’s and each of its Subsidiary’s equity, quasi equity and shareholders loans’ accounts are of Illicit Origin.
Likewise, it declares that in accordance with the provisions of the Federal Law for the Prevention and Identification of Operations with Resources of Illicit Origin it is the beneficiary owner of this Trust.

More Definitions of Illicit Origin

Illicit Origin means any origin which is illicit, criminal or fraudulent, including without limitation, corruption, Terrorist Financing, and tax evasion.

Illicit Origin means any origin which is illegal or fraudulent, including drug traffic, corruption, organised criminal activities, terrorism or fraud against financial interests of the World Bank, the United Kingdom, the United States of America or the European Union or any member state thereof;

Illicit Origin shall have the meanings given to them in Attachment 6 (Definitions)

Illicit Origin means any origin which is illicit or fraudulent, including, without limitation, drug trafficking, corruption, organised criminal activities, terrorism, money laundering or fraud. Increased Cost means:

Illicit Origin means funds obtained through: the commission of any designated categories of offences under FATF 40 (▇▇▇▇▇://▇▇▇.▇▇▇▇-▇▇▇▇.▇▇▇/media/fatf/documents/FATF%20Standards%20-%2040%20Recommendations%20rc.pdf) any Act of Corruption; or any Fraud against the Financial Interests of the European Community, if or when applicable. The Service Provider shall (i) use its best efforts ensure that its equity and assets will not come from Illicit Origin the Services, (ii) ensure that the Services shall not give rise to any Act of Corruption, Fraud or Anti-Competitive Practice, (iii) inform Project Owner with immediately upon becoming aware of or suspecting any Act of Corruption, Fraud or Anti-Competitive Practice, (iv) take all necessary measures to remedy the situation in a manner satisfactory to Project Owner and the Funding Sources and within the time period determined by Project Owner and/or the Funding Sources, and notify Project Owner immediately of any information which leads to suspect the Illicit Origin of funds invested in the Services.