Common use of Compliance with Anti-Money Laundering Legislation Clause in Contracts

Compliance with Anti-Money Laundering Legislation. The Trustee shall retain the right not to act and shall not be liable for refusing to act if, due to a lack of information or for any other reason whatsoever, the Trustee, in its sole judgment, determines that such act might cause it to be in non-compliance with any applicable anti-money laundering or anti-terrorist legislation, regulation or guideline. Further, should the Trustee, in its sole judgment, determine at any time that its acting under this Indenture has resulted in its being in non-compliance with any applicable anti-money laundering or anti-terrorist legislation, regulation or guideline, then it shall have the right to resign on 10 days written notice to the Company provided: (i) that the Trustee’s written notice shall describe the circumstances of such non-compliance; and (ii) that if such circumstances are rectified to the Trustee’s satisfaction within such 10-day period, then, at the option of the Company, such resignation shall not be effective.

Appears in 1 contract

Samples: Indenture (Banro Corp)

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Compliance with Anti-Money Laundering Legislation. The Trustee Rights Agent shall retain the right not to act and shall not be liable for refusing to act under this Agreement if, due to a lack of information or for any other reason whatsoever, the TrusteeRights Agent, in its sole judgment, determines that such act might cause it to be in non-compliance with any applicable anti-money laundering or laundering, anti-terrorist or economic sanctions legislation, regulation or guideline. Further, should the TrusteeRights Agent, in its sole judgment, determine at any time that its acting under this Indenture Agreement has resulted in its it being in non-compliance with any applicable anti-money laundering or laundering, anti-terrorist or economic sanctions legislation, regulation or guideline, then it shall have the right to resign on 10 days written notice to the Company Corporation, provided: (i) that the Trustee’s Rights Agent's written notice shall describe the circumstances of such non-compliance; and (ii) that if such circumstances are rectified to the Trustee’s Rights Agent's satisfaction within such 10-10 day period, then, at the option of the Company, then such resignation shall not be effective.

Appears in 1 contract

Samples: Shareholder Rights Plan Agreement (PRECISION DRILLING Corp)

Compliance with Anti-Money Laundering Legislation. The Trustee shall retain the right not to act and shall not be liable for refusing to act if, due to a lack of information or for any other reason whatsoever, the Trustee, in its sole judgment, determines that such act might cause it to be in non-compliance with any applicable anti-money laundering or laundering, anti-terrorist or economic sanctions legislation, regulation or guideline. Further, should the Trustee, in its sole judgment, determine at any time that its acting under this Indenture Agreement has resulted in its being in non-compliance with any applicable anti-money laundering or laundering, anti-terrorist or economic sanctions legislation, regulation or guideline, then it shall have the right to resign on 10 ten (10) days written notice to the Company provided: other parties to this Agreement, provided (i) that the Trustee’s written notice shall describe the circumstances of such non-compliance; and (ii) that if such circumstances are rectified to the Trustee’s satisfaction within such ten (10-) day period, then, at the option of the Company, then such resignation shall not be effective.

Appears in 1 contract

Samples: Transcanada Pipelines LTD

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Compliance with Anti-Money Laundering Legislation. The Trustee shall retain the right not to act and shall not be liable for refusing to act if, due to a lack of information or for any other reason whatsoever, the Trustee, in its sole judgment, determines that such act might cause it to be in non-compliance with any applicable anti-money laundering or laundering, anti-terrorist or economic sanctions legislation, regulation or guideline. Further, should the Trustee, in its sole judgment, determine at any time that its acting under this Indenture has resulted in its being in non-compliance with any applicable anti-money laundering or laundering, anti-terrorist or economic sanctions legislation, regulation or guideline, then it shall have the right to resign on 10 ten (10) days written notice to the Company provided: other parties to this Indenture, provided (i) that the Trustee’s written notice shall describe the circumstances of such non-compliance; and (ii) that if such circumstances are rectified to the Trustee’s satisfaction within such ten (10-) day period, then, at the option of the Company, then such resignation shall not be effective.

Appears in 1 contract

Samples: Trust Indenture (TransCanada Trust)

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