Common use of Bank Certification Clause in Contracts

Bank Certification. The Bank shall certify that: (a) it has established and implemented policies, procedures and internal (b) it has designated an individual or individuals responsible for implementing and monitoring the Policies; (c) it has provided, and will continue to provide, ongoing training for the appropriate personnel with respect to the Policies; (d) its Policies are functioning as intended, it has performed the specified requirements of the Fund’s CIP as requested, and except as may have been previously disclosed to the Fund’s AML Compliance Officer in writing, during the period covered by the certification, it discovered no suspicious activity reportable under applicable law or regulation with respect to the Fund and that none of the Fund’s applicants or shareholders failed any of the procedures enumerated in its Policies; (e) it provides for periodic testing of those Policies by its internal auditors and will notify the Fund’s AML Compliance Officer in writing about the results of (i) there have been no amendments to amendments to the Bank’s CIP Program or OFAC compliance procedures that may materially affect the Fund or, alternatively, (ii) that the Bank has materially amended the Bank’s CIP Program, which amendment may affect the Fund.

Bank Certification. The Bank shall certify that: (a) it has established and implemented policies, procedures and internal (b) it has designated an individual or individuals responsible for implementing and monitoring the Policies; (c) it has provided, and will continue to provide, ongoing training for the appropriate personnel with respect to the Policies; (d) its Policies are functioning as intended, it has performed the specified requirements of the Fund’s CIP as requested, and except as may have been previously disclosed to the Fund’s AML Compliance Officer in writing, during the period covered by the certification, it discovered no suspicious activity reportable under applicable law or regulation with respect to the Fund and that none of the Fund’s applicants or shareholders failed any of the procedures enumerated in its Policies; (e) it provides for periodic testing of those Policies by its internal auditors and will notify the Fund’s AML Compliance Officer in writing about the results ofof any such testing that could be adverse to the Fund’s interests; and (i) there have been no amendments to amendments to the Bank’s CIP Program or OFAC compliance procedures that may materially affect the Fund or, alternatively, (ii) that the Bank has materially amended the Bank’s CIP Program, which amendment may affect the Fund.