Common use of AML Clause in Contracts

AML. The parties hereto acknowledge that in accordance with laws, regulations and executive orders of the United States or any state or political subdivision thereof as are in effect from time to time applicable to financial institutions relating to the funding of terrorist activities and money laundering, including without limitation the USA Patriot Act (Pub. L. 107-56) and regulations promulgated by the Office of Foreign Asset Control (collectively, “AML Law”), the Account Holder is required to obtain, verify, and record information relating to individuals and entities that establish a business relationship or open an account with the Account Holder. Each party hereby agrees that it shall provide the Account Holder with such identifying information and documentation as the Account Holder may request from time to time in order to enable the Account Holder to comply with all applicable requirements of AML Law.