Common use of Patriot Act Warranties Clause in Contracts

Patriot Act Warranties. Class Counsel hereby acknowledges receiving from the Defendants the representations and warranties, substantially similar in form and in substance to the following, concerning the Settlement Funds that the Defendants will deliver for deposit with the Escrow Agent: (a) The Defendants hereby acknowledge that they seek to comply with all applicable laws concerning money laundering and related activities. In furtherance of those efforts, the Defendants hereby represent, warrant, and agree that, to the best of their knowledge: (i) none of the cash or property that they paid, will pay or will contribute to the Settlement Fund has been or shall be derived from, or related to, an activity that is deemed criminal under United States law; and (ii) no contribution or payment by them to the Escrow Account shall cause Escrow Agent to be in violation of the United States Bank Secrecy Act, the United States Money Laundering Control Act of 1986 or the United States International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001. (b) The Defendants agree to promptly notify Escrow Agent if any of the foregoing representations ceases to be true and accurate. Each of the Defendants agrees to provide to Escrow Agent any additional information regarding itself or any insurers contributing to the Settlement Fund which is reasonably necessary or appropriate for the Escrow Agent to ensure its compliance with all applicable laws concerning money laundering and similar activities, subject to any confidentiality obligations (recognized or permitted by law) that may restrict or prohibit each Defendant from providing such information. Escrow Agent agrees to keep any information provided by the Defendants pursuant to this paragraph confidential, and will not disclose such information to any other party except to the extent necessary or appropriate to ensure compliance with all applicable laws concerning money laundering and similar activities; provided, however, that Escrow Agent shall give notice to the Defendants as soon as practicable in the event it expects that such a disclosure will become necessary. (c) The Defendants agree that if at any time Escrow Agent determines that any of the foregoing representations are incorrect, or if otherwise required by applicable law or regulation related to money laundering and similar activities, Escrow Agent may undertake whatever actions are reasonably appropriate to ensure compliance with applicable law or regulation.

Appears in 2 contracts

Samples: Settlement Agreement, Settlement Agreement

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Patriot Act Warranties. Class Counsel hereby acknowledges receiving from the Defendants the representations and warranties, substantially similar in form and in substance to the following, concerning the Settlement Funds that the Defendants will deliver for deposit with the Escrow Agent: (a) The Visa Defendants and the MasterCard Defendants hereby acknowledge that they will seek to comply with all applicable laws concerning money laundering and related activities. In furtherance of those efforts, the Visa Defendants and the MasterCard Defendants hereby represent, warrant, and agree that, to the best of their knowledge: (i) none of the cash or property that they it has paid, will pay pay, or will contribute to the Class Settlement Fund Interchange Escrow Account(s) has been or shall be derived from, or related to, an activity that is deemed criminal under United States law; and (ii) no contribution or payment by them the Defendants to the Class Settlement Interchange Escrow Account Account(s) shall cause the Escrow Agent to be in violation of the United States Bank Secrecy Act, the United States Money Laundering Control Act of 1986 1986, or the United States International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001. (b) The Visa Defendants and the MasterCard Defendants agree to promptly notify the Escrow Agent and Class Counsel if any of the foregoing representations ceases cease to be true and accurate. Each of the Defendants such Defendant agrees to provide to the Escrow Agent any additional information regarding itself or any insurers contributing to the Settlement Fund which it that is reasonably necessary or appropriate for the Escrow Agent to ensure its compliance with all applicable laws concerning money laundering and similar activities, subject to any confidentiality obligations (recognized or permitted by law) that may restrict or prohibit each the Defendant from providing such information. The Escrow Agent agrees to keep any information provided by the Defendants Defendant pursuant to this paragraph Section confidential, and will not disclose such information to any other party except to the extent necessary or appropriate to ensure compliance with all applicable laws concerning money laundering and similar activities; provided, however, that the Escrow Agent shall give notice to the Defendants Defendant as soon as practicable in the event it expects that such a disclosure will become necessary. (c) The Visa Defendants and the MasterCard Defendants agree that if at any time the Escrow Agent reasonably determines that any of the foregoing representations are incorrectincorrect with respect to any one of those Defendants, or if otherwise required by applicable law or regulation related to money laundering and similar activities, the Escrow Agent may undertake whatever actions are reasonably appropriate to ensure compliance with applicable law or regulation.

Appears in 1 contract

Samples: Class Settlement Interchange Escrow Agreement

Patriot Act Warranties. Class Counsel hereby acknowledges receiving from the Defendants the representations and warranties, substantially similar in form and in substance to the following, concerning the Settlement Funds that the Defendants will deliver for deposit with the Escrow Agent: (a) The Visa Defendants and the Mastercard Defendants hereby acknowledge that they will seek to comply with all applicable laws concerning money laundering and related activities. In furtherance of those efforts, the Visa Defendants and the Mastercard Defendants hereby represent, warrant, and agree that, to the best of their knowledge: (i) none of the cash or property that they it has paid, will pay pay, or will contribute to the Class Settlement Fund Cash Escrow Account has been or shall be derived from, or related to, an activity that is deemed criminal under United States law; and (ii) no contribution or payment by them the Defendants to the Class Settlement Cash Escrow Account shall cause the Escrow Agent to be in violation of the United States Bank Secrecy Act, the United States Money Laundering Control Act of 1986 1986, or the United States International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001. (b) The Visa Defendants and the Mastercard Defendants agree to promptly notify the Escrow Agent and Rule 23(b)(3) Class Counsel if any of the foregoing representations ceases cease to be true and accurate. Each of the Defendants such Defendant agrees to provide to the Escrow Agent any additional information regarding itself or any insurers contributing to the Settlement Fund which it that is reasonably necessary or appropriate for the Escrow Agent to ensure its compliance with all applicable laws concerning money laundering and similar activities, subject to any confidentiality obligations (recognized or permitted by law) that may restrict or prohibit each the Defendant from providing such information. The Escrow Agent agrees to keep any information provided by the Defendants Defendant pursuant to this paragraph Section confidential, and will not disclose such information to any other party except to the extent necessary or appropriate to ensure compliance with all applicable laws concerning money laundering and similar activities; provided, however, that the Escrow Agent shall give notice to the Defendants Defendant as soon as practicable in the event it expects that such a disclosure will become necessary. (c) The Visa Defendants and the Mastercard Defendants agree that if at any time the Escrow Agent reasonably determines that any of the foregoing representations are incorrectincorrect with respect to any one of those Defendants, or if otherwise required by applicable law or regulation related to money laundering and similar activities, the Escrow Agent may undertake whatever actions are reasonably appropriate to ensure compliance with applicable law or regulation.

Appears in 1 contract

Samples: Class Settlement Cash Escrow Agreement

Patriot Act Warranties. Class Counsel hereby acknowledges receiving from the Defendants the representations and warranties, substantially similar in form and in substance to the following, concerning the Settlement Funds that the Defendants will deliver for deposit with the Escrow Agent: (a) The Visa Defendants and the Mastercard Defendants hereby acknowledge that they will seek to comply with all applicable laws concerning money laundering and related activities. In furtherance of those efforts, the Visa Defendants and the Mastercard Defendants hereby represent, warrant, and agree that, to the best of their knowledge: (i) none of the cash or property that they it has paid, will pay pay, or will contribute to the Class Settlement Fund Interchange Escrow Account has been or shall be derived from, or related to, an activity that is deemed criminal under United States law; and (ii) no contribution or payment by them the Defendants to the Class Settlement Interchange Escrow Account shall cause the Escrow Agent to be in violation of the United States Bank Secrecy Act, the United States Money Laundering Control Act of 1986 1986, or the United States International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001. (b) The Visa Defendants and the Mastercard Defendants agree to promptly notify the Escrow Agent and Rule 23(b)(3) Class Counsel if any of the foregoing representations ceases cease to be true and accurate. Each of the Defendants such Defendant agrees to provide to the Escrow Agent any additional information regarding itself or any insurers contributing to the Settlement Fund which it that is reasonably necessary or appropriate for the Escrow Agent to ensure its compliance with all applicable laws concerning money laundering and similar activities, subject to any confidentiality obligations (recognized or permitted by law) that may restrict or prohibit each the Defendant from providing such information. The Escrow Agent agrees to keep any information provided by the Defendants Defendant pursuant to this paragraph Section confidential, and will not disclose such information to any other party except to the extent necessary or appropriate to ensure compliance with all applicable laws concerning money laundering and similar activities; provided, however, that the Escrow Agent shall give notice to the Defendants Defendant as soon as practicable in the event it expects that such a disclosure will become necessary. (c) The Visa Defendants and the Mastercard Defendants agree that if at any time the Escrow Agent reasonably determines that any of the foregoing representations are incorrectincorrect with respect to any one of those Defendants, or if otherwise required by applicable law or regulation related to money laundering and similar activities, the Escrow Agent may undertake whatever actions are reasonably appropriate to ensure compliance with applicable law or regulation.

Appears in 1 contract

Samples: Class Settlement Interchange Escrow Agreement

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Patriot Act Warranties. Class Counsel hereby acknowledges receiving from the Defendants the representations and warranties, substantially similar in form and in substance to the following, concerning the Settlement Funds that the Defendants will deliver for deposit with the Escrow Agent: (a) The Visa Defendants and the MasterCard Defendants hereby acknowledge that they will seek to comply with all applicable laws concerning money laundering and related activities. In furtherance of those efforts, the Visa Defendants and the MasterCard Defendants hereby represent, warrant, and agree that, to the best of their knowledge: (i) none of the cash or property that they it has paid, will pay pay, or will contribute to the Class Settlement Fund Cash Escrow Account(s) has been or shall be derived from, or related to, an activity that is deemed criminal under United States law; and (ii) no contribution or payment by them the Defendants to the Class Settlement Cash Escrow Account Account(s) shall cause the Escrow Agent to be in violation of the United States Bank Secrecy Act, the United States Money Laundering Control Act of 1986 1986, or the United States International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001. (b) The Visa Defendants and the MasterCard Defendants agree to promptly notify the Escrow Agent and Class Counsel if any of the foregoing representations ceases cease to be true and accurate. Each of the Defendants such Defendant agrees to provide to the Escrow Agent any additional information regarding itself or any insurers contributing to the Settlement Fund which it that is reasonably necessary or appropriate for the Escrow Agent to ensure its compliance with all applicable laws concerning money laundering and similar activities, subject to any confidentiality obligations (recognized or permitted by law) that may restrict or prohibit each the Defendant from providing such information. The Escrow Agent agrees to keep any information provided by the Defendants Defendant pursuant to this paragraph Section confidential, and will not disclose such information to any other party except to the extent necessary or appropriate to ensure compliance with all applicable laws concerning money laundering and similar activities; provided, however, that the Escrow Agent shall give notice to the Defendants Defendant as soon as practicable in the event it expects that such a disclosure will become necessary. (c) The Visa Defendants and the MasterCard Defendants agree that if at any time the Escrow Agent reasonably determines that any of the foregoing representations are incorrectincorrect with respect to any one of those Defendants, or if otherwise required by applicable law or regulation related to money laundering and similar activities, the Escrow Agent may undertake whatever actions are reasonably appropriate to ensure compliance with applicable law or regulation.

Appears in 1 contract

Samples: Class Settlement Cash Escrow Agreement

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