Common use of Money Laundering and Funding of Terrorism Clause in Contracts

Money Laundering and Funding of Terrorism. Customer acknowledges that transactions made on Customer’s behalf may be subject to federal and state laws and regulations governing transactions in currency and other monetary instruments relating to money laundering activities and the funding of terrorism and that such laws and regulations may impose severe criminal penalties on those who participate or assist in such activities or in structuring of such activities to avoid reporting requirements. Customer acknowledges that Bank may monitor transactions for compliance with such laws and regulations. Customer agrees that Customer will not initiate any Order which would violate, or result in a payment in violation of the federal and state laws or regulations, including, without limitation, the federal laws and regulations administered by bank regulatory agencies and OFAC relating to money laundering and the funding of terrorism.

Money Laundering and Funding of Terrorism. Customer Client acknowledges that transactions made on CustomerClient’s behalf may be subject to federal and state laws and regulations governing transactions in currency and other monetary instruments relating to money laundering activities and the funding of terrorism and that such laws and regulations may impose severe criminal penalties on those who participate or assist in such activities or in structuring of such activities to avoid reporting requirements. Customer Client acknowledges that Bank may monitor transactions for compliance with such laws and regulations. Customer Client agrees that Customer Client will not initiate engage in any Order transaction which would violate, or result in a payment in violation of the of, federal and or state laws or regulations, including, without limitation, the federal laws and regulations administered by bank regulatory agencies and OFAC the Office of Foreign Assets Control (“OFAC”) relating to money laundering and the funding of terrorism.

Money Laundering and Funding of Terrorism. a) Customer acknowledges that transactions made on Customer’s behalf may be subject to federal and state laws and regulations governing transactions in currency and other monetary instruments relating to money laundering activities and the funding of terrorism and that such laws and regulations may impose severe criminal penalties on those who participate or assist in such activities or in structuring of such activities to avoid reporting requirements. . b) Customer acknowledges that Bank may monitor transactions for compliance with such laws and regulations. Customer agrees that Customer will not initiate any Order which would violate, or result in a payment in violation of the federal and state laws or regulations, including, without limitation, the federal laws and regulations administered by bank regulatory agencies and OFAC relating to money laundering and the funding of terrorism.