Common use of Anti-Money Laundering and Sanctions Clause in Contracts

Anti-Money Laundering and Sanctions. (a) Notwithstanding any other provision of a Finance Document to the contrary, Finance Party may delay, block or refuse to process any payment or other transaction or do any other thing without incurring any liability if the Finance Party knows or reasonably suspects that the transaction or the application of its proceeds will: (i) breach, or cause a Finance Party to breach, any AML/CTF Law or economic or trade sanctions laws or regulations applicable to it including, without limitation, the Charter of the United Nations Xxx 0000 (Cth), the Charter of the United Nations (Dealing with Assets) Regulations 2008 (Cth) and the Autonomous Sanctions Regulations 2011 (Cth); or (ii) allow the imposition of any penalty on the Finance Party or its Affiliates under any such law or regulation, including where the transaction or the application of its proceeds involves any entity or activity the subject of any applicable sanctions of any jurisdiction binding on the Finance Party or its Affiliate, or the direct or indirect proceeds of unlawful activity. (b) As soon as practicable after a Finance Party becomes aware that it will delay, block or refuse to process a transaction under paragraph (a), it will notify the Borrower and the other Finance Parties and consult in good faith but in each case only to the extent the Finance Party determines it is legally permitted to do so. In making that determination the Finance Party shall act reasonably. (c) The Borrower shall promptly advise the Finance Parties if any Obligor enters into any Finance Document in the capacity as agent and promptly supply, or procure the supply of, such information as may be reasonably requested by any Finance Party from time to time in relation to any principal for which an Obligor may be acting. (d) Each Obligor undertakes to exercise its rights and perform its obligations under the Finance Documents in accordance with all AML/CTF Laws and economic or trade sanctions laws or regulations.

Anti-Money Laundering and Sanctions. (a) Notwithstanding any other provision of a Finance Document to 34.1 The Client agrees that the contrary, Finance Party Bank may delay, block or refuse to process any payment or other transaction or do any other thing Transaction without incurring any liability if the Finance Party knows or reasonably Bank suspects that the transaction or the application of its proceeds willthat: (ia) breach, or cause a Finance Party to breach, the Transaction may breach any AML/CTF Law or economic or trade sanctions laws or regulations in Hong Kong or any other country; (b) the Transaction involves any person (natural, corporate or governmental) that is itself sanctioned or is connected, directly or indirectly, to any person that is sanctioned under economic and trade sanctions imposed by the United Nations, the United States, the European Union or any country; or (c) the Transaction may directly or indirectly involve the proceeds of, or be applied for the purposes of, conduct which is unlawful in Hong Kong or any other country. 34.2 The Client declares and undertakes to the Bank that the processing of any Transaction by the Bank in accordance with the Client’s Instructions will not breach any laws or regulations in Hong Kong or any other country. 34.3 The Bank may take and instruct any delegate to take any action which it in its sole discretion considers appropriate so as to comply with any applicable law, regulation, request of a public or regulatory authority or any policy of the Bank which relates to the prevention of fraud, money laundering, terrorism or other criminal activities or the provision of financial and other services to sanctioned persons or entities. Such action may include but is not limited to the interception and investigation of transactions on accounts (particularly those involving the international transfer of funds) including the source of the intended recipient of fund paid into or out of accounts. In certain circumstances, such action may delay or prevent the processing of Instructions, the settlement of Transactions over the accounts or the Bank’s performance of its obligations under this Agreement. The Bank needs not notify the Client until a reasonable time after it is permitted to do so under such law, regulation or policy of the Bank, or by such public or regulatory authority. Neither the Bank nor any Agent of the Bank will be liable for any loss (whether direct or consequential and including, without limitation, loss of profit or interest) caused in whole or in part by any actions which are taken by the Charter Bank or any delegate of the United Nations Xxx 0000 (Cth), the Charter of the United Nations (Dealing with Assets) Regulations 2008 (Cth) and the Autonomous Sanctions Regulations 2011 (Cth); or (ii) allow the imposition of any penalty on the Finance Party or its Affiliates under any such law or regulation, including where the transaction or the application of its proceeds involves any entity or activity the subject of any applicable sanctions of any jurisdiction binding on the Finance Party or its Affiliate, or the direct or indirect proceeds of unlawful activityBank pursuant to this Clause 34. (b) As soon as practicable after a Finance Party becomes aware that it will delay, block or refuse to process a transaction under paragraph (a), it will notify the Borrower and the other Finance Parties and consult in good faith but in each case only to the extent the Finance Party determines it is legally permitted to do so. In making that determination the Finance Party shall act reasonably. (c) The Borrower shall promptly advise the Finance Parties if any Obligor enters into any Finance Document in the capacity as agent and promptly supply, or procure the supply of, such information as may be reasonably requested by any Finance Party from time to time in relation to any principal for which an Obligor may be acting. (d) Each Obligor undertakes to exercise its rights and perform its obligations under the Finance Documents in accordance with all AML/CTF Laws and economic or trade sanctions laws or regulations.