Know Your Client definition
Know Your Client. Checks.
(a) If (i) the introduction of or any change in (or in the interpretation, administration or application of) any applicable Law made after the date of this Agreement, (ii) any change in the status of a Loan Party or the composition of the shareholders of a Loan Party after the date of this Agreement, or (iii) a proposed assignment or transfer by a Lender of any of its rights and/or obligations under this Agreement to a party that is not a Lender prior to such assignment or transfer, obliges the Administrative Agent or any Lender (or, in the case of clause (iii), any prospective new Lender) to comply with “know your client” or similar reasonable identification procedures in circumstances where the necessary information is not already available to it, each Loan Party shall promptly (or within the time period specified in Section 6.16, if applicable) upon the request of the Administrative Agent or any Lender (through the Administrative Agent) supply, or procure the supply of, such documentation and other evidence as is reasonably requested by the Administrative Agent (for itself or on behalf of any Lender) or any Lender (through the Administrative Agent and for itself or, in the case of the event described in paragraph (iii) above, on behalf of any prospective new Lender) in order for the Administrative Agent, such Lender or, in the case of the event described in clause (iii) above, any prospective new Lender to carry out and be satisfied it has complied with all necessary “know your client” or other similar checks under all applicable Laws pursuant to the transactions contemplated in the Loan Documents.
(b) Each Lender shall promptly upon the request of the Administrative Agent supply, or cause the supply of, such documentation and other evidence as is reasonably requested by the Administrative Agent (for itself) in order for the Administrative Agent to carry out and be satisfied it has complied with all necessary “know your client” or other similar checks under all applicable Laws pursuant to the transactions contemplated in the Loan Documents.
(c) The Company shall, by not less than five Business Days prior written notice to the Administrative Agent, notify the Administrative Agent (which shall promptly notify the Lenders) of its intention to request that any Person becomes an Additional Borrower or Additional Guarantor.
(d) Following the giving of any notice pursuant to Section 6.22(c), if the joinder of such Additional Borrower or Additional Guar...
Know Your Client. Promptly upon the request of the Administrative Agent supply, or procure the supply of, such documentation and other evidence as is reasonably requested by the Administrative Agent in order for the Financing Parties to carry out and be satisfied they have complied with all necessary “know your client” or other similar checks under all applicable Laws pursuant to the transactions contemplated in the Financing Documents;
Know Your Client. Any information and evidence reasonably required by any Finance Party pursuant to its usual “know your client” procedures in order to comply with applicable laws.
Examples of Know Your Client in a sentence
Other eligibility requirements may apply and non-resident aliens will be subject to enhanced due diligence requirements and Know Your Client deliverable obligations.
The account will be opened following receipt of the Customer Agreement and proper account opening documentation and ancillary supporting documentation necessary to meet the Intermediaries Know Your Client (KYC) and Anti-Money Laundering compliance.
Parties who are required to furnish the Attorneys with documentation pursuant to the "Know Your Client" provisions of the Financial Centre Intelligence Act No 38 of 2001 (as amended) and the Foreign Account Tax Compliance Act, 2010 shall provide all such documentation to the Attorneys timeously following request thereof by the Attorneys.
The Client's Dormant Account will be reactivated subject to, if required, up-to-date Know Your Client documentation provided to the Company by Client.
The Client's Dormant Account will then be reactivated (subject to, if required, up- to-date Know Your Client documentation provided to the Company by Client) and become an Active Account.
More Definitions of Know Your Client
Know Your Client information (such as passport details and other identifying documents); • Other information such as billing information and details of paid invoices, signatures, evidential documents supplied by the client in the course the services, tax identifier or VAT number); • Data included in emails sent from and received with corporate email, data included in files (including electronic files); • Information captured through legitimate monitoring of system use; • Technical information (such as username and passwords, IP address, domain, browser type, operating system, click-stream data and system logs).
Know Your Client process is an IIROC requirement that ensures your advisor is familiar with your financial situation, investment knowledge and objectives, tolerance for risk and the time horizon for your investment objectives, before making investment recommendations. This may take more than one meeting, but please provide the information your advisor requests. This will help ensure that your advisor offers you investment account types, strategies and products that are suitable for your individual financial needs and circumstances. Your Advisor Must Keep You Informed about Your Investments IIROC requires your advisor to share information with you about the products, services and account types you are offered and any associated fees and charges. Most of this information will be included in a Relationship Disclosure Document, which you should read carefully. Your advisor must also keep you updated with regular account statements and periodic reports on the fees and charges you pay and on the performance of your investments. As an investor, you can protect yourself by reading and understanding the information IIROC requires your advisor to provide. Ask your advisor about any information you do not understand. You also Benefit from other Protections All IIROC member firms must maintain an adequate cushion of capital, which reduces the risk of them becoming insolvent. Firms must also keep your investments separate from their own assets. Your account is also eligible for protection by the Canadian Investor Protection Fund, which covers up to per account if an IIROC-regulated firm becomes insolvent. You can learn more at ▇▇▇.▇▇▇▇.▇▇.
Know Your Client. Requests. Each Borrower will, and will cause their respective Subsidiaries to, promptly upon request by the Administrative Agent or any Lender, and each Lender shall promptly upon request by the Administrative Agent, supply, or procure the supply of, such documentation and other evidence as is reasonably requested by the Administrative Agent (for itself and on behalf of any Lender) or any Lender (for itself or on behalf of any prospective lender) in order for the Administrative Agent, such Lender or such prospective new lender to carry out and be satisfied with the results of all necessary “know your client” or other checks in relation to the identity of any Person that it is required to carry out in relation to the transactions contemplated in the Loan Documents.
Know Your Client. Confirmations: no Lender shall have advised the Administrative Agent that such Lender has not received from the Borrower all such information and evidence as such Lender requested of the Borrower prior to the Effective Date as contemplated by Section 14.11; and
Know Your Client compliance means the submission to the Registrar by the trustees, of prescribed information that may reasonably be determined concerning their donors so that the person’s suitability to be, or to remain, registered may be properly assessed by the Registrar;
Know Your Client. Call: Telecall where we gather more details on your circumstances and goals. We will complete an initial “Attitude to Risk” questionnaire to help us understand your investment experience, appetite for investment risk and capacity for loss, in line with the FCA’s compliance requirements Policy analysis: Assessment of the information gained from your schemes Proposal Summary: We will draft an initial report based on our fact finding and detailed policy analysis to date. All fees and costs will be included within this report, as well as initial recommendations. This report may include a proposal to prepare a case for a third-party specialist, for example for mortgage or defined benefit pension scheme advice IFA 2: Telecall to discuss the Proposal Summary, answer any questions which it raises, discuss our ongoing Portfolio Management Service with you and assist you to decide on how to proceed in response to ▇▇▇▇▇▇ proposals Client Decision: At this stage you will have the full information to decide how to proceed, including future costs. No action should be taken until we have formally completed due diligence Due Diligence: We will confirm all relevant facts before clients sign relevant forms for transactions. We will also need to confirm your identity which we will try and do using online tools
Know Your Client. Call: Telephone call where we gather more details on your circumstances and goals. We will complete an initial “Attitude to Risk” questionnaire to help us understand your investment experience, appetite for investment risk and capacity for loss, in line with the FCA’s compliance requirements. Policy analysis: Assessment of the information gained from your schemes Proposal Summary: We will draft an initial report based on our fact finding and detailed policy analysis to date. All fees and costs will be included within this report, as well as initial recommendations. This report may include a proposal to prepare a case for a third-party specialist, for example for mortgage or defined benefit pension scheme advice.