Common use of Compliance with AML Laws Clause in Contracts

Compliance with AML Laws. The Company acknowledges that it is a financial institution subject to the law entitled United and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism ("U.S.A. Patriot") Act of 2001 and the Bank Secrecy Act (collectively, the "AML Acts") and shall comply with the AML Acts and applicable regulations adopted thereunder (collectively, the "Applicable AML Laws") in all relevant respects, subject to the delegation of certain responsibilities to SMC, as provided in the next paragraph below. The Company hereby delegates to SMC the performance, on behalf of the Company, of the anti-money laundering services set forth under Item 6 of Schedule B as concerns the shareholder accounts maintained by SMC pursuant to this Agreement. SMC agrees to the foregoing delegation and agrees to perform such services in accordance with the Company's AML Program. In connection therewith, SMC agrees to maintain policies and procedures, and related internal controls, that are consistent with the Company's AML Program and the requirement that the Company employ procedures reasonably designed to achieve compliance with the Applicable AML Laws, including the requirement to have policies and procedures that can be reasonably expected to detect and cause the reporting of transactions under Section 5318 of the Bank Secrecy Act. The Company agrees and acknowledges that, notwithstanding the delegation provided for in the foregoing paragraph, the Company maintains full responsibility for ensuring that its AML Program is, and shall continue to be, reasonably designed to ensure compliance with the Applicable AML Laws, in light of the particular business of the Company, taking into account factors such as its size, location, activities and risks or vulnerabilities to money laundering. In connection with the foregoing delegation, the Company also acknowledges that the performance of the anti-money laundering services enumerated in Item 6 of Schedule B involves the exercise of discretion which in some circumstances may result in consequences to the Company and its shareholders (such as in the case of the reporting of suspicious activities and the freezing of shareholder accounts). In this regard, (i) under circumstances in which the AML Program authorizes the taking of certain actions, SMC is granted the discretion to take any such action as may be authorized under the AML Program, and consultation with Company shall not be required in connection therewith unless specifically required under the AML Program, and (ii) the Company instructs [ ] that it may avail the Company of any safe harbor from civil liability that may be available under Applicable AML Laws for making a disclosure or filing a report thereunder.

Compliance with AML Laws. The Company acknowledges that it is a financial institution subject to the law entitled United and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism ("“U.S.A. Patriot"”) Act of 2001 and the Bank Secrecy Act (collectively, the "“AML Acts"”) and shall comply with the AML Acts and applicable regulations adopted thereunder (collectively, the "“Applicable AML Laws"”) in all relevant respects, subject to the delegation of certain responsibilities to SMCRFS, as provided in the next paragraph below. The Company hereby delegates to SMC RFS the performance, on behalf of the Company, of the anti-money laundering services set forth under Item 6 of Schedule B as concerns the shareholder accounts maintained by SMC RFS pursuant to this Agreement. SMC RFS agrees to the foregoing delegation and agrees to perform such services in accordance with the Company's ’s AML Program. In connection therewith, SMC RFS agrees to maintain policies and procedures, and related internal controls, that are consistent with the Company's ’s AML Program and the requirement that the Company employ procedures reasonably designed to achieve compliance with the Applicable AML Laws, including the requirement to have policies and procedures that can be reasonably expected to detect and cause the reporting of transactions under Section 5318 of the Bank Secrecy Act. The Company agrees and acknowledges that, notwithstanding the delegation provided for in the foregoing paragraph, the Company maintains full responsibility for ensuring that its AML Program is, and shall continue to be, reasonably designed to ensure compliance with the Applicable AML Laws, in light of the particular business of the Company, taking into account factors such as its size, location, activities and risks or vulnerabilities to money laundering. In connection with the foregoing delegation, the Company also acknowledges that the performance of the anti-money laundering services enumerated in Item 6 of Schedule B involves the exercise of discretion which in some circumstances may result in consequences to the Company and its shareholders (such as in the case of the reporting of suspicious activities and the freezing of shareholder accounts). In this regard, (i) under circumstances in which the AML Program authorizes the taking of certain actions, SMC RFS is granted the discretion to take any such action as may be authorized under the AML Program, and consultation with Company shall not be required in connection therewith unless specifically required under the AML Program, and (ii) the Company instructs [ ] that it may avail the Company of any safe harbor from civil liability that may be available under Applicable AML Laws for making a disclosure or filing a report thereunder.

Compliance with AML Laws. The Company Each Trust acknowledges that it is a financial institution subject to the Bank Secrecy Act, as amended by the law entitled United and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism ("“U.S.A. Patriot"”) Act of 2001 and the Bank Secrecy Act (collectively, the "“AML Acts"”) and shall comply with the AML Acts and applicable regulations adopted thereunder (collectively, the "“Applicable AML Laws"”) in all relevant respects, subject to the delegation of certain responsibilities to SMCMUIS, as provided in the next paragraph below. The Company Each Trust hereby delegates to SMC MUIS the performance, on behalf of the Companysuch Trust, of the anti-money laundering services set forth under Item 6 of in Schedule B as concerns the shareholder accounts maintained by SMC MUIS pursuant to this Agreement. SMC XXXX agrees to the foregoing delegation and agrees to perform such services in accordance with the Company's Trust’s AML Program. In connection therewith, SMC XXXX agrees to maintain policies and procedures, and related internal controls, that are consistent with the Company's Trust’s AML Program and the requirement that the Company Trust employ procedures reasonably designed to achieve compliance with the Applicable AML Laws, including the requirement to have policies and procedures that can be reasonably expected to detect and cause the reporting of transactions under Section 5318 of the Bank Secrecy Act. The Company Trust agrees and acknowledges that, notwithstanding the delegation provided for in the foregoing paragraph, the Company Trust maintains full responsibility for ensuring that its AML Program is, and shall continue to be, reasonably designed to ensure compliance with the Applicable AML Laws, in light of the particular business of the CompanyTrust, taking into account factors such as its size, location, activities and risks or vulnerabilities to money laundering. In connection with the foregoing delegation, the Company each Trust also acknowledges that the performance of the anti-money laundering services enumerated in Item 6 of Schedule B involves the exercise of discretion which in some circumstances may result in consequences to the Company such Trust and its shareholders (such as in the case of the reporting of suspicious activities and the freezing of shareholder accounts). In this regard, (i) under circumstances in which the AML Program authorizes the taking of certain actions, SMC MUIS is granted the discretion to take any such action as may be authorized under the AML Program, and consultation with Company such Trust shall not be required in connection therewith unless specifically required under the AML Program, and (ii) the Company each Trust instructs [ ] MUIS that it may avail the Company such Trust of any safe harbor from civil liability that may be available under Applicable AML Laws for making a disclosure or filing a report thereunder.

Compliance with AML Laws. The Company Trust acknowledges that it is a financial institution subject to the law entitled United and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism ("“U.S.A. Patriot"”) Act of 2001 and the Bank Secrecy Act (collectively, the "“AML Acts"”) and shall comply with the AML Acts and applicable regulations adopted thereunder (collectively, the "“Applicable AML Laws"”) in all relevant respects, subject to the delegation of certain responsibilities to SMCRFS, as provided in the next paragraph below. The Company Trust hereby delegates to SMC RFS the performance, on behalf of the CompanyTrust, of the anti-money laundering services set forth under Item 6 8a of Schedule B A as concerns the shareholder accounts maintained by SMC RFS pursuant to this Agreement. SMC RFS agrees to the foregoing delegation and agrees to perform such services in accordance with the Company's Trust’s AML Program. In connection therewith, SMC RFS agrees to maintain policies and procedures, and related internal controls, that are consistent with the Company's Trust’s AML Program and the requirement that the Company Trust employ procedures reasonably designed to achieve compliance with the Applicable AML Laws, including the requirement to have policies and procedures that can be reasonably expected to detect and cause the reporting of transactions under Section 5318 of the Bank Secrecy Act. The Company Trust agrees and acknowledges that, notwithstanding the delegation provided for in the foregoing paragraph, the Company Trust maintains full responsibility for ensuring that its AML Program is, and shall continue to be, reasonably designed to ensure compliance with the Applicable AML Laws, in light of the particular business of the CompanyTrust, taking into account factors such as its size, location, activities and risks or vulnerabilities to money laundering. In connection with the foregoing delegation, the Company Trust also acknowledges that the performance of the anti-money laundering services enumerated in Item 6 8a of Schedule B A involves the exercise of discretion which in some circumstances may result in consequences to the Company Trust and its shareholders (such as in the case of the reporting of suspicious activities and the freezing of shareholder accounts). In this regard, (i) under circumstances in which the AML Program authorizes the taking of certain actions, SMC RFS is granted the discretion to take any such action as may be authorized under the AML Program, and consultation with Company Trust shall not be required in connection therewith unless specifically required under the AML Program, and (ii) the Company Trust instructs [ ] RFS that it may avail the Company Trust of any safe harbor from civil liability that may be available under Applicable AML Laws for making a disclosure or filing a report thereunder.

Compliance with AML Laws. The Company acknowledges represents that it has implemented policies and procedures relating to the Fund's AML Program (described below) in order to comply with its contractual obligations to the Fund, which is a financial institution subject to the law entitled United and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism ("U.S.A. Patriot") Act of 2001 and the Bank Secrecy Act (collectively, the "AML Acts") and shall ). The Company has agreed to comply with the Funds' AML Program, which was adopted pursuant to the AML Acts and applicable regulations adopted thereunder (collectively, the "Applicable AML Laws") in all relevant respects), subject and represents that it is authorized to the delegation of delegate certain responsibilities to SMCSI, as provided in the next paragraph below. The Company hereby delegates to SMC SI the performance, on behalf of the CompanyFund, of the anti-money laundering services set forth under Item 6 of Schedule B as concerns the shareholder accounts maintained by SMC SI pursuant to this Agreement. SMC SI agrees to the foregoing delegation and agrees to perform such services in accordance with the CompanyFund's AML Program. In connection therewith, SMC SI agrees to maintain policies and procedures, and related internal controls, that are consistent with the CompanyFund's AML Program and the requirement that the Company Fund employ procedures reasonably designed to achieve compliance with the Applicable AML Laws, including the requirement to have policies and procedures that can be reasonably expected to detect and cause the reporting of transactions under Section 5318 of the Bank Secrecy Act. The Company agrees and acknowledges that, notwithstanding the delegation provided for in the foregoing paragraph, the Company maintains full responsibility for ensuring that its the Fund's AML Program is, and shall continue to be, reasonably designed to ensure compliance with the Applicable AML Laws, in light of the particular business of the CompanyFund, taking into account factors such as its size, location, activities and risks or vulnerabilities to money laundering. In connection with the foregoing delegation, the Company also acknowledges that the performance of the anti-money laundering services enumerated in Item 6 of Schedule B involves the exercise of discretion which in some circumstances may result in consequences to the Company Fund and its Fund shareholders (such as in the case of the reporting of suspicious activities and the freezing of shareholder accounts). In this regard, (i) under circumstances in which the AML Program authorizes the taking of certain actions, SMC SI is granted the discretion to take any such action as may be authorized under the AML Program, and consultation with Company shall not be required in connection therewith unless specifically required under the AML Program, and (ii) the Company instructs [ ] that it may avail the Company of any safe harbor from civil liability that may be available under Applicable AML Laws for making a disclosure or filing a report thereunder.

Compliance with AML Laws. The Company Trust acknowledges that it is a financial institution subject to the law entitled United and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism ("“U.S.A. Patriot"”) Act of 2001 and the Bank Secrecy Act (collectively, the "“AML Acts"”) and shall comply with the AML Acts and applicable regulations adopted thereunder (collectively, the "“Applicable AML Laws"”) in all relevant respects, subject to the delegation of certain responsibilities to SMCRFS, as provided in the next paragraph below. The Company Trust hereby delegates to SMC RFS the performance, on behalf of the CompanyTrust, of the anti-money laundering services set forth under Item 6 of Schedule B as concerns the shareholder accounts maintained by SMC RFS pursuant to this Agreement. SMC RFS agrees to the foregoing delegation and agrees to perform such services in accordance with the Company's Trust’s AML Program. In connection therewith, SMC RFS agrees to maintain policies and procedures, and related internal controls, that are consistent with the Company's Trust’s AML Program and the requirement that the Company Trust employ procedures reasonably designed to achieve compliance with the Applicable AML Laws, including the requirement to have policies and procedures that can be reasonably expected to detect and cause the reporting of transactions under Section 5318 of the Bank Secrecy Act. The Company Trust agrees and acknowledges that, notwithstanding the delegation provided for in the foregoing paragraph, the Company Trust maintains full responsibility for ensuring that its AML Program is, and shall continue to be, reasonably designed to ensure compliance with the Applicable AML Laws, in light of the particular business of the CompanyTrust, taking into account factors such as its size, location, activities and risks or vulnerabilities to money laundering. In connection with the foregoing delegation, the Company Trust also acknowledges that the performance of the anti-money laundering services enumerated in Item 6 of Schedule B involves the exercise of discretion which in some circumstances may result in consequences to the Company Trust and its shareholders (such as in the case of the reporting of suspicious activities and the freezing of shareholder accounts). In this regard, (i) under circumstances in which the AML Program authorizes the taking of certain actions, SMC RFS is granted the discretion to take any such action as may be authorized under the AML Program, and consultation with Company Trust shall not be required in connection therewith unless specifically required under the AML Program, and (ii) the Company Trust instructs [ ] that it may avail the Company Trust of any safe harbor from civil liability that may be available under Applicable AML Laws for making a disclosure or filing a report thereunder.

Compliance with AML Laws. The Company Trust acknowledges that it is a financial institution subject to the law entitled United and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism ("“U.S.A. Patriot"”) Act of 2001 and the Bank Secrecy Act (collectively, the "“AML Acts"”) and shall comply with the AML Acts and applicable regulations adopted thereunder (collectively, the "“Applicable AML Laws"”) in all relevant respects, subject to the delegation of certain responsibilities to SMCRFS, as provided in the next paragraph below. The Company Trust hereby delegates to SMC RFS the performance, on behalf of the CompanyTrust, of the anti-money laundering services set forth under Item 6 of Schedule B as concerns the shareholder accounts maintained by SMC RFS pursuant to this Agreement. SMC RFS agrees to the foregoing delegation and agrees to perform such services in accordance with the Company's Trust’s AML Program. In connection therewith, SMC RFS agrees to maintain policies and procedures, and related internal controls, that are consistent with the Company's Trust’s AML Program and the requirement that the Company Trust employ procedures reasonably designed to achieve compliance with the Applicable AML Laws, including the requirement to have policies and procedures that can be reasonably expected to detect and cause the reporting of transactions under Section 5318 of the Bank Secrecy Act. The Company Trust agrees and acknowledges that, notwithstanding the delegation provided for in the foregoing paragraph, the Company Trust maintains full responsibility for ensuring that its AML Program is, and shall continue to be, reasonably designed to ensure compliance with the Applicable AML Laws, in light of the particular business of the CompanyTrust, taking into account factors such as its size, location, activities and risks or vulnerabilities to money laundering. In connection with the foregoing delegation, the Company Trust also acknowledges that the performance of the anti-money laundering services enumerated in Item 6 of Schedule B involves the exercise of discretion which in some circumstances may result in consequences to the Company Trust and its shareholders (such as in the case of the reporting of suspicious activities and the freezing of shareholder accounts). In this regard, (i) under circumstances in which the AML Program authorizes the taking of certain actions, SMC RFS is granted the discretion to take any such action as may be authorized under the AML Program, and consultation with Company Trust shall not be required in connection therewith unless specifically required under the AML Program, and (ii) the Company Trust instructs [ [—] that it may avail the Company Trust of any safe harbor from civil liability that may be available under Applicable AML Laws for making a disclosure or filing a report thereunder.

Compliance with AML Laws. The Company Trust acknowledges that it is a financial institution subject to the law entitled United and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism ("“U.S.A. Patriot"”) Act of 2001 and the Bank Secrecy Act (collectively, the "“AML Acts"”) and shall comply with the AML Acts and applicable regulations adopted thereunder (collectively, the "“Applicable AML Laws"”) in all relevant respects, subject to the delegation of certain responsibilities to SMCRFS, as provided in the next paragraph below. The Company Trust hereby delegates to SMC RFS the performance, on behalf of the CompanyTrust, of the anti-money laundering services set forth under Item 6 of Schedule B as concerns the shareholder accounts maintained by SMC RFS pursuant to this Agreement. SMC RFS agrees to the foregoing delegation and agrees to perform such services in accordance with the Company's Trust’s AML Program. In connection therewith, SMC RFS agrees to maintain policies and procedures, and related internal controls, that are consistent with the Company's Trust’s AML Program and the requirement that the Company Trust employ procedures reasonably designed to achieve compliance with the Applicable AML Laws, including the requirement to have policies and procedures that can be reasonably expected to detect and cause the reporting of transactions under Section 5318 of the Bank Secrecy Act. The Company Trust agrees and acknowledges that, notwithstanding the delegation provided for in the foregoing paragraph, the Company Trust maintains full responsibility for ensuring that its AML Program is, and shall continue to be, reasonably designed to ensure compliance with the Applicable AML Laws, in light of the particular business of the CompanyTrust, taking into account factors such as its size, location, activities and risks or vulnerabilities to money laundering. In connection with the foregoing delegation, the Company also acknowledges that the performance of the anti-money laundering services enumerated in Item 6 of Schedule B involves the exercise of discretion which in some circumstances may result in consequences to the Company and its shareholders (such as in the case of the reporting of suspicious activities and the freezing of shareholder accounts). In this regard, (i) under circumstances in which the AML Program authorizes the taking of certain actions, SMC is granted the discretion to take any such action as may be authorized under the AML Program, and consultation with Company shall not be required in connection therewith unless specifically required under the AML Program, and (ii) the Company instructs [ ] that it may avail the Company of any safe harbor from civil liability that may be available under Applicable AML Laws for making a disclosure or filing a report thereunder.

Compliance with AML Laws. The Company Trust acknowledges that it is a financial institution subject to the law entitled United and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism ("“U.S.A. Patriot"”) Act of 2001 and the Bank Secrecy Act (collectively, the "“AML Acts"”) and shall comply with the AML Acts and applicable regulations adopted thereunder (collectively, the "“Applicable AML Laws"”) in all relevant respects, subject to the delegation of certain responsibilities to SMCRFS, as provided in the next paragraph below. The Company Trust hereby delegates to SMC RFS the performance, on behalf of the CompanyTrust, of the anti-money laundering services set forth under Item 6 of Schedule B as concerns the shareholder accounts maintained by SMC RFS pursuant to this Agreement. SMC RFS agrees to the foregoing delegation and agrees to perform such services in accordance with the Company's Trust’s AML Program. In connection therewith, SMC RFS agrees to maintain policies and procedures, and related internal controls, that are consistent with the Company's Trust’s AML Program and the requirement that the Company Trust employ procedures reasonably designed to achieve compliance with the Applicable AML Laws, including the requirement to have policies and procedures that can be reasonably expected to detect and cause the reporting of transactions under Section 5318 of the Bank Secrecy Act. The Company Trust agrees and acknowledges that, notwithstanding the delegation provided for in the foregoing paragraph, the Company Trust maintains full responsibility for ensuring that its AML Program is, and shall continue to be, reasonably designed to ensure compliance with the Applicable AML Laws, in light of the particular business of the CompanyTrust, taking into account factors such as its size, location, activities and risks or vulnerabilities to money laundering. In connection with the foregoing delegation, the Company Trust also acknowledges that the performance of the anti-money laundering services enumerated in Item 6 of Schedule B involves the exercise of discretion which in some circumstances may result in consequences to the Company Trust and its shareholders (such as in the case of the reporting of suspicious activities and the freezing of shareholder accounts). In this regard, (i) under circumstances in which the AML Program authorizes the taking of certain actions, SMC RFS is granted the discretion to take any such action as may be authorized under the AML Program, and consultation with Company Trust shall not be required in connection therewith unless specifically required under the AML Program, and (ii) the Company Trust instructs [ ] RFS that it may avail the Company Trust of any safe harbor from civil liability that may be available under Applicable AML Laws for making a disclosure or filing a report thereunder.