OFAC and Other Verifications. BNYM shall verify that each Shareholder is not (a) a designated national and blocked person as identified on the most recently updated U.S. Department of Treasury Office Foreign Assets Control (OFAC) List, or (b) a senior foreign political figure, its immediate family members and close associates, or any foreign shell bank; provided that with respect to (ii)(b) hereof, BNYM’s verifications shall be based solely upon the representations (if any) made in the subscription agreement of a Fund. If permitted by applicable law, BNYM shall promptly notify the Funds’ Money Laundering Reporting Officer or equivalent (as identified by the Funds to BNYM from time to time) and the Investment Advisor if BNYM determines that a potential or existing investor is a potential match to the OFAC Specially-Designated Nationals List or sanctions program.
Appears in 5 contracts
Samples: Administrative Services Agreement (Grosvenor Registered Multi-Strategy Fund (Ti 2), LLC), Administrative Services Agreement (Grosvenor Registered Multi-Strategy Fund (Ti 1), LLC), Administrative Services Agreement (Grosvenor Registered Multi-Strategy Fund (W), LLC)
