Common use of Anti-Money Laundering Procedures Clause in Contracts

Anti-Money Laundering Procedures. The Transfer Agent shall (i) adopt and maintain an anti-money laundering compliance program (“AML Program”) that satisfies the requirements of all applicable laws and regulations; (ii) carry out its AML Program to the best of its ability; (iii) promptly notify the Fund if an inspection by the appropriate regulatory authorities of its AML Program identifies any material deficiency; and (iv) promptly remedy any material deficiency of which it has notice.

Anti-Money Laundering Procedures. The Transfer Agent shall (i) adopt and maintain an anti-money laundering compliance program (“AML Program”) that satisfies the requirements of all applicable laws and regulations; (ii) carry out its AML Program to the best of its ability; (iii) promptly notify the Fund if Trust of an inspection by the appropriate regulatory authorities of its AML Program if such inspection identifies any material deficiencydeficiency in its AML Program; and (iv) promptly remedy remedies any material deficiency of which it has notice.;