Noncompliance With Order Sample Clauses

Noncompliance With Order. If the Trust fails to comply with any or all of the conditions set forth in the Application and/or the Order, the Fund of Funds shall be notified immediately of such non-compliance. Upon such notice, or if either party learns of such failure by other means, the parties shall take all necessary steps to correct such non-compliance, including redemption by the Fund of Funds of as much of its shares of the Funds necessary to cause the Fund of Funds’ investment in the Funds to come within the limits of Section 12(d)(1) of the 1940 Act.
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Noncompliance With Order 
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Related to Noncompliance With Order

  • Compliance with OFAC None of the Company and its Subsidiaries or, to the Company’s knowledge, any director, officer, agent, employee or affiliate of the Company and its Subsidiaries or any other person acting on behalf of the Company and its Subsidiaries, is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury (“OFAC”), and the Company will not, directly or indirectly, use the proceeds of the Offering hereunder, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities of any person currently subject to any U.S. sanctions administered by OFAC.

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