Common use of FinCEN Compliance Clause in Contracts

FinCEN Compliance. To help the government fight the funding of terrorism and money laundering activities, the Applicable Anti-Money Laundering Law, requires all financial institutions to obtain, verify and record information that identifies each Person who opens an account. Accordingly, in order to comply with Applicable Anti-Money Laundering Law, the Owner Trustee is required to obtain from time to time documentation to verify and record information that identifies each Person who opens an account. For a non-individual Person such as a business entity, a charity, a trust or other legal entity, the Owner Trustee will ask for documentation to verify its formation and existence as a legal entity, financial statements, licenses, tax identification documents, and identification and authorization documents from individuals claiming authority to represent the entity and other relevant documentation and information (including beneficial owners of such entities) reasonably required to comply with Applicable Anti-Money Laundering Law. The Owner Trustee may, to the fullest extent permitted by applicable law, including Applicable Anti-Money Laundering Law, conclusively rely on, and shall be fully protected and indemnified in relying on, any information received, and failure to provide any reasonably requested information may result in an inability of the Owner Trustee to perform its obligations hereunder which, at its sole option, may result in the immediate resignation of the Owner Trustee, notwithstanding anything to the contrary in this Trust Agreement. The CTA may require the Trust to file reports with FinCEN after the date of this Trust Agreement. It shall be the Depositor’s duty and not the Owner Trustee’s duty to cause the Trust to make such filings and to cause the Trust to comply with its obligations under the CTA, if any. Further, the parties hereto agree that for purposes of Applicable Anti-Money Laundering Law and the CTA, to the fullest extent permitted by law, the Certificateholders are the sole direct owners of the Trust, acknowledge that the Owner Trustee acts solely as a directed trustee at the direction of the Certificateholders, the Administrator or other instructing party as contemplated hereunder and that one or more senior officers or other individuals affiliated with the Certificateholders, the Administrator or such other instructing party, are and shall deemed to be the parties with the power and authority to exercise substantial control over the Trust.

FinCEN Compliance. To help the government fight the funding of terrorism and money laundering activities, the Applicable Anti-Money Laundering Law, requires all financial institutions to obtain, verify and record information that identifies each Person who opens an account. Accordingly, in order to comply with Applicable Anti-Money Laundering Law, the Owner Trustee is required to obtain from time to time documentation to verify and record information that identifies each Person who opens an account. For a non-individual Person such as a business entity, a charity, a trust or other legal entity, the Owner Trustee will ask for documentation to verify its formation and existence as a legal entity, financial statements, licenses, tax identification documents, and identification and authorization documents from individuals claiming authority to represent the entity and other relevant documentation and information (including beneficial owners of such entities) reasonably required to comply with Applicable Anti-Money Laundering Law. The Owner Trustee may, to the fullest extent permitted by applicable law, including Applicable Anti-Money Laundering Law, conclusively rely on, and shall be fully protected and indemnified in relying on, any information received, and failure to provide any reasonably requested information may result in an inability of the Owner Trustee to perform its obligations hereunder which, at its sole option, may result in the immediate resignation of the Owner Trustee, notwithstanding anything to the contrary in this Trust Agreement. The CTA may require the Trust to file reports with FinCEN after the date of this Trust Agreement. It shall be the Depositor’s duty and not the Owner Trustee’s duty to cause the Trust to make such filings and to cause the Trust to comply with its obligations under the CTA, if any. The parties hereto agree and acknowledge that the Owner Trustee acts solely as a directed trustee hereunder. Further, the parties hereto agree that for purposes of Applicable Anti-Money Laundering Law and the CTA, (a) each Certificateholder owning twenty five percent (25%) or more of the beneficial interest in the Trust is and shall be deemed to be the fullest extent permitted by law, the Certificateholders are the sole direct beneficial owners of the TrustTrust for purposes of providing the information required under Applicable Anti-Money Laundering Law, acknowledge that the Owner Trustee acts solely as a directed trustee at the direction of the Certificateholders, the Administrator or other instructing party as contemplated hereunder and that one or more senior officers or other individuals affiliated with the Certificateholders, the Administrator or (b) each such other instructing party, are Certificateholder is and shall deemed to be the parties with the power and authority to exercise substantial control over the Trust.

FinCEN Compliance. To help the government fight the funding of terrorism and money laundering activities, the Customer Identification Program (CIP) requirements established under the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Title III of Pub. L. 107 56 (signed into law October 26, 2001) and its implementing regulations (collectively, USA PATRIOT Act), the Financial Crimes Enforcement Network’s (FinCEN) Customer Due Diligence Requirements and such other laws, rules, regulations and executive orders in effect from time to time applicable to banking institutions (“Applicable Anti-Money Laundering Law”), requires all financial institutions to obtain, verify and record information that identifies each Person person who opens an account. Accordingly, in order Pursuant to comply with Applicable Anti-Money Laundering Law, the Owner Trustee is required to obtain on or before closing and from time to time thereafter documentation to verify and record information that identifies each Person person who opens an account. For a non-individual Person person such as a business entity, a charity, a trust or other legal entity, the Owner Trustee will ask for documentation to verify its the entity’s formation and existence as a legal entityexistence, its financial statements, licenses, tax identification documents, and identification and authorization documents from individuals claiming authority to represent the entity and other relevant documentation and information (including beneficial owners of such entities) reasonably required to comply with Applicable Anti-Money Laundering Law). The Owner Trustee may, to To the fullest extent permitted by applicable law, including Applicable Anti-Money Laundering Law, the Owner Trustee may conclusively rely on, and shall be fully protected and indemnified in relying on, any such information received, and failure . Failure to provide any reasonably requested such information may result in an inability of the Owner Trustee to perform its obligations hereunder hereunder, which, at its the sole optionoption of the Owner Trustee, may result in the immediate resignation of the Owner Trustee, notwithstanding anything to the contrary in this Trust Agreement. The CTA may require the Trust to file reports with FinCEN after the date of this Trust Agreement. It shall be the Depositor’s duty and not the Owner Trustee’s duty to cause the Trust to make such filings and to cause the Trust to comply with its obligations under the CTA, if any. Further, the parties hereto agree that for purposes of Applicable Anti-Money Laundering Law and the CTA, to the fullest extent permitted by law, the Certificateholders are the sole direct owners of the Trust, acknowledge that the Owner Trustee acts solely as a directed trustee at the direction of the Certificateholders, the Administrator or other instructing party as contemplated hereunder and that one or more senior officers or other individuals affiliated resignation in accordance with the Certificateholders, the Administrator or such other instructing party, are and shall deemed to be the parties with the power and authority to exercise substantial control over the Trustterms hereof.

FinCEN Compliance. To help the government fight the funding of terrorism and money laundering activities, the Applicable Anti-Money Laundering Law, requires all financial institutions to obtain, verify and record information that identifies each Person who opens an account. Accordingly, in order to comply with Applicable Anti-Money Laundering Law, the Owner Trustee is required to obtain from time to time documentation to verify and record information that identifies each Person who opens an account. For a non-individual Person such as a business entity, a charity, a trust or other legal entity, the Owner Trustee will ask for documentation to verify its formation and existence as a legal entity, financial statements, licenses, tax identification documents, and identification and authorization documents from individuals claiming authority to represent the entity and other relevant documentation and information (including beneficial owners of such entities) reasonably required to comply with Applicable Anti-Money Laundering Law. The Owner Trustee may, to the fullest extent permitted by applicable law, including Applicable Anti-Money Laundering Law, conclusively rely on, and shall be fully protected and indemnified in relying on, any information received, and failure to provide any reasonably requested information may result in an inability of the Owner Trustee to perform its obligations hereunder which, at its sole option, may result in the immediate resignation of the Owner Trustee, notwithstanding anything to the contrary in this Trust Agreement. The CTA may require the Trust to file reports with FinCEN after the date of this Trust Agreement. It shall be the Depositor’s duty and not the Owner Trustee’s duty to cause the Trust to make such filings and to cause the Trust to comply with its obligations under the CTA, if any. The parties hereto agree and acknowledge that the Owner Trustee acts solely as a directed trustee hereunder. Further, the parties hereto agree that for purposes of Applicable Anti-Money Laundering Law and the CTA, to the fullest extent permitted by law, the Certificateholders are the sole direct owners of the Trust, acknowledge that the Owner Trustee acts solely as a directed trustee at the direction of the Certificateholders, the Administrator or other instructing party as contemplated hereunder and that one or more senior officers or other individuals affiliated with the Certificateholders, the Administrator or such other instructing party, are and shall deemed to be the parties with the power and authority to exercise substantial control over the Trust.