Origin of Funds Sample Clauses

Origin of Funds. The only amounts that may be transferred into this LIRA and included in the Plan as a “Contribution” (as that term is defined in the Declaration of Trust) are sums originating, directly or initially, from: a) the fund of a registered pension plan governed by the Québec Act; b) a plan described in subparagraphs 28(1), (2), (3.1) or (5) of the Pension Regulations; or c) another LIRA.
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Origin of Funds. With the acceptance of these terms and conditions, expressly and under oath, the USER declares that the origin of its funds and if any, its partners, allied companies, legal representatives or directors, are related to prohibited activities and / or qualified by law as criminal. Also declares under oath that the origin of the funds is lawful and, therefore, does not engage us in any responsibility for the origin and / or achievement of the same. for the above, we may terminate this contractual relationship without prior notice, if the user or any of its representatives, directors or allied companies were to be linked by the competent authorities or any type of investigation for crimes of drug trafficking, terrorism, kidnapping, money laundering and / or related, or if the user is included in lists for the control of money laundering by any national or foreign authority, such as the Office of Foreign Assets Control (OFAC) of the Department of the Treasury of the United States of America. Likewise, with the acceptance of the present terms and conditions, the user expressly authorizes us to consult the reports in credit bureaus, in international lists of money laundering control and sponsorship of terrorism (e.g., the Clinton List, officially: Specially Designated Narcotics Traffickers or SDNT list).
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Origin of Funds. (a) Any monies to be used to satisfy Purchaser’s obligations hereunder, including payment of the Purchase Price and any other amounts payable by Purchaser hereunder, and all fees and expenses relating to the transactions contemplated by this Agreement and the other Transaction Agreements to which it is a party have not been or will not be derived from or related to any illegal activities, including but not limited to, money laundering activities or activities subject to any applicable Anti-corruption Laws. (b) Any monies to be used to satisfy Purchaser’s obligations hereunder, including payment of the Purchase Price and any other amounts payable by Purchaser hereunder, and all fees and expenses relating to the transactions contemplated by this Agreement and the other Transaction Agreements to which it is a party are not derived from, invested for the benefit of, or related in any way to a legal or natural person that is subject to any kind of economic or financial sanctions laws, regulations, embargoes or restrictive measures administered, enacted or enforced by any of international or local authorities; among those authorities, the United Nations Security Council, the European Union, the Office of Foreign Asset Control, the U.S. Department of Commerce or the U.S. Department of State. (c) The representations in this Section 4.6(c) shall be deemed to be not granted by Purchaser or required by Seller, to the extent that those provisions would result in a violation of Council Regulation (EC) 2271/1996 (the “Blocking Regulation”) | and/or any law or regulation implementing the Blocking Regulation in any Member State of the European Union or the United Kingdom.
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Origin of Funds. If reasonably requested, the Purchaser shall provide to the Seller, as soon as reasonably practicable, any and all evidence of the origin of the funds used to meet its obligations to pay (or to procure the payment of) any amount under any Acquisition Document.
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Origin of Funds. The Purchaser represents and warrants that the funds that will be delivered to the Sellers for the payment of the Purchase Price do not originate in activities that would violate the Applicable Law. 6.4
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Origin of Funds. The Purchaser represents that it has funded the payment of the price using its own equity and bank borrowings. In accordance with the provisions of Articles L. 561-1 to L. 574-3 of the French Monetary and Financial Code relating to anti-money laundering, of which the Purchaser confirms full knowledge, the Purchaser represents: - that the funds used and to be used by it are not derived from drug trafficking, from fraud affecting the financial interest of the European Communities, from corruption or organised crime or that may relate to the financing of terrorism (Article L. 562-2, 1°); - that the transactions planned herein are not associated with funds that may derive from drug trafficking, from fraud affecting the financial interest of the European Communities, from corruption or organised crime or that may relate to the financing of terrorism (Article L. 562-2, 2°).
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Origin of Funds. The Sellers represent and warrant that the funds used for the acquisition of the Sold Shares did not originate in activities that would violate the Applicable Law.
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Origin of Funds a) To prove origin of funds after ten years or more is not an easy task. It seems that the banks are not able to give information so old like that. b) This is a hard task that I am still carrying out but I cannot promise results and dates.” 15. This denial of the receipt of any bribe from Xxxxx & Xxxxxxx is shown by the documentary evidence adduced by the Government of Mozambique to be untrue. In summary:­ (i) Xxxxx & Xxxxxxx have produced a copy of the “Export Agent’s commission card” covering the period from 26th August, 1997, to 10th April, 2000, showing six payments to Xx Xxxxxxx totalling £294,523.44 described as “commission”. (ii) Xxxxx & Xxxxxxx have produced copy CHAPS instructions for two of the payments to the account of Xx Xxxxxxx at UBS in Switzerland. The first payment of £105,944.76, which was made on 12th February, 1999, can be traced through Xx Xxxxxxx’x Swiss account with UBS to his account with Xxxxxx XXX in Jersey and from there to the Trust. The second payment for which there is a CHAPS instruction was made after the Trust was funded. (iii) The statements of Xx Xxxxxxx’x account with Xxxxxx XXX in Jersey show that it was in receipt of £248,070.31 from his account with UBS Switzerland (which included the sum of £105,944.76) on 24th February, 1999, and a further £246,700.38 from his account with Credit Suisse in Switzerland on 17th May, 1999. On 11th June, 1999, Xx Xxxxxxx transferred £511,449.77 from his Lloyds TSB Jersey account to the Trust. 16. The commissions shown on the export card as having been paid to Xx Xxxxxxx prior to the funding of the Trust total £153,516.71, indicating that the balance of the funds paid into the Trust were derived either from Xxxxx & Xxxxxxx in respect of other contracts for which no documentation has been found, or from a different source. The prosecution statement in the criminal proceedings brought against Xxxxx & Xxxxxxx says at paragraph 170:­ 17. As Commissioner Xxxx noted in Federal Republic of Brazil et al­v­Durant International et al [2012] JRC 211 at para 226:­ 18. It is true that it is not possible to trace all of the funds within the Trust back to Xxxxx & Xxxxxxx, but we find that, on the balance of probabilities, all of the funds within the Trust represent bribes received by Xx Xxxxxxx in his role as a public officer for Mozambique for the following reasons:­ (i) Xx Xxxxxxx lied to Xxxxxx XXX both as to his occupation and the source of the funds when the Trust was established. (ii) There is cl...
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Related to Origin of Funds

  • Investment of Funds NCPS will not commingle Escrow Funds received by it in escrow with funds of others and shall not invest such Escrow Funds. The Escrow Funds will be held in a non-interest bearing account.

  • Return of Funds Contractor will return any overpayments due to unearned funds or funds disallowed pursuant to the terms of the Contract that were disbursed to the Contractor. The Contractor must return any overpayment within forty (40) calendar days after either discovery by the Contractor, its independent auditor, or notification by the Department or Customer of the overpayment.

  • Application of Funds After the exercise of remedies provided for in Section 8.02 (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.02), any amounts received on account of the Obligations, subject to the provisions of Sections 2.13 and 2.14, shall be applied by the Administrative Agent in the following order: First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including fees, charges and disbursements of counsel to the Administrative Agent and amounts payable under Article III) payable to the Administrative Agent in its capacity as such; Second, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal, interest and Letter of Credit Fees) payable to the Lenders and the L/C Issuer (including fees, charges and disbursements of counsel to the respective Lenders and the L/C Issuer and amounts payable under Article III), ratably among them in proportion to the amounts described in this clause Second payable to them; Third, to payment of that portion of the Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the Loans and L/C Borrowings, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause Third held by them; Fourth, to (a) payment of that portion of the Obligations constituting unpaid principal of the Loans and L/C Borrowings and (b) Cash Collateralize that portion of L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause Fourth held by them; and Last, the balance, if any, after all of the Obligations have been paid in full, to the Borrower or as otherwise required by Law. Subject to Section 2.03(c) and Section 2.13, amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause Fourth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other Obligations, if any, in the order set forth above.

  • Deposit of Funds Before 11:00 A.M., New York City time, on each Redemption Date, Fundamental Change Repurchase Date or Interest Payment Date, and on the Maturity Date or any other date on which any cash amount is due on the Notes, the Company will deposit, or will cause there to be deposited, with the Paying Agent cash, in funds immediately available on such date, sufficient to pay the cash amount due on the applicable Notes on such date. The Paying Agent will return to the Company, as soon as practicable, any money not required for such purpose.

  • Disbursement of Funds (a) No later than 2:00 p.m. (New York City time) on the date specified in each Notice of Borrowing (including Mandatory Borrowings), each Lender made available its pro rata portion, if any, of each Borrowing requested to be made on such date in the manner provided below; provided that on the Original Closing Date, such funds were made available at such earlier time as may be agreed among the Lenders, the Borrower and the Administrative Agent for the purpose of consummating the Transactions; provided further that all Swingline Loans shall be made available to the Borrower in the full amount thereof by the Swingline Lender no later than 4:00 p.m. (New York City time) on the date requested. (b) Each Lender shall make available all amounts it is to fund to the Borrower under any Borrowing for its applicable Commitments, and in immediately available funds to the Administrative Agent at the Administrative Agent’s Office and the Administrative Agent will (except in the case of Mandatory Borrowings and Borrowings to repay Unpaid Drawings) make available to the Borrower, by depositing to an account designated by the Borrower to the Administrative Agent the aggregate of the amounts so made available in the applicable currency. Unless the Administrative Agent shall have been notified by any Lender prior to the date of any such Borrowing that such Lender does not intend to make available to the Administrative Agent its portion of the Borrowing or Borrowings to be made on such date, the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent on such date of Borrowing, and the Administrative Agent, in reliance upon such assumption, may (in its sole discretion and without any obligation to do so) make available to the Borrower a corresponding amount. If such corresponding amount is not in fact made available to the Administrative Agent by such Lender and the Administrative Agent has made available such amount to the Borrower, the Administrative Agent shall be entitled to recover such corresponding amount from such Lender. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent’s demand therefor the Administrative Agent shall promptly notify the Borrower and the Borrower shall immediately pay such corresponding amount to the Administrative Agent in the applicable currency. The Administrative Agent shall also be entitled to recover from such Lender or the Borrower interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Administrative Agent to the Borrower to the date such corresponding amount is recovered by the Administrative Agent, at a rate per annum equal to (i) if paid by such Lender, the Overnight Rate or (ii) if paid by the Borrower, the then-applicable rate of interest or fees, calculated in accordance with Section 2.8, for the respective Loans. (c) Nothing in this Section 2.4 shall be deemed to relieve any Lender from its obligation to, fulfill its commitments hereunder or to prejudice any rights that the Borrower may have against any Lender as a result of any default by such Lender hereunder (it being understood, however, that no Lender shall be responsible for the failure of any other Lender to fulfill its commitments hereunder).

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