FA Act Sample Clauses
The 'FA Act' clause defines and references the Financial Administration Act or a similar governing statute relevant to the agreement. This clause clarifies that any obligations, rights, or procedures mentioned in the contract that are subject to the FA Act must comply with its provisions. For example, it may specify how funds are managed, reported, or audited under the agreement. Its core function is to ensure that all parties understand the legal framework governing financial administration, thereby promoting compliance and reducing the risk of legal or regulatory breaches.
FA Act. (a) The definition of "FA Act" in Clause 1.1 (Definitions) of the Original Facility Agreement shall be amended to read as follows:
FA Act. (a) The Borrower hereby confirms that it has received and noted the following information in accordance with the FA Act:
(i) DNB Bank ASA, with registered address D▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇, ▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇ and registered in the Norwegian register of business enterprises with company registration number 984 851 006, is as a Norwegian financial enterprise that operates as a bank with authorisation from and under supervision by the Financial Supervisory Authority of Norway (No.: Finanstilsynet, P.O. Box 1187 Sentrum, 0107 Oslo); and
(ii) any information provided by the Borrower to a Finance Party in accordance with this Agreement to comply with section 13 (1) of the Anti-Money Laundering Act, cf. section 3-12 (2) of the FA Act shall be deemed to form part of this Agreement.
(b) Without prejudice to paragraph (a) above, the Borrower hereby agrees and accepts, to the extent permitted by law, that this paragraph (b) shall constitute a waiver of the provisions of the FA Act, and further agrees and accepts, to the extent permitted by law, that the provisions of the FA Act that are not mandatory shall not apply to this Agreement or to the relationship between the Finance Parties and the Borrower.
FA Act. Each Obligor specifically waives all rights under the provisions of the FA Act not being mandatory provisions.