Common use of AML Program Clause in Contracts

AML Program. (a) The Trust hereby appoints Atlantic TA as its agent as contemplated by 31 USC 5318 and Treasury Rules adopted pursuant to such law and delegates to Atlantic TA as its agent certain responsibilities required under the AML Program as further set out in the AML Program and as described below. Atlantic TA hereby accepts such appointment and delegation. (b) In connection with such appointment, Atlantic TA represents and warrants to the Trust Atlantic TA has adopted and implemented written policies and procedures ("AML Policies and Procedures") reasonably designed to carry out the responsibilities delegated to Atlantic TA by the Trust under the Trust's AML Program, which procedures include: (i) verification of the identity of persons purchasing Shares of the Trust or otherwise becoming Shareholders of the Trust; (ii) screening Shareholders before, or immediately following, the time when each becomes a Shareholder and regularly thereafter, against lists provided by the Office of Foreign Assets Control ("OFAC") or other regulators as requested by the Financial Crimes Enforcement Network ("FinCEN"); (iii) monitoring, and reporting to the Trust's Anti-Money Laundering Compliance Officer ("AMLCO"), any receipts on behalf of the Trust of more than $10,000 in currency (as defined by Treasury Rule 1010.100(m)), whether received in a single transaction or in a series of related transactions; (iv) documenting receipts of funds of $3,000 or more; (v) identifying correspondent accounts and applications subject to the due diligence requirements of Section 312 of the Patriot Act and prompt reporting of such identification to the AMLCO; (vi) monitoring for any suspicious activity indicating the possibility of money laundering, financing of terrorist activities or criminal activities being conducted through the Trust; (vii) maintaining the confidentiality of all information obtained, reviewed, developed and reported under the AML Policies and Procedures; (viii) training all employees in complying with the AML Policies and Procedures; and (ix) maintaining books and records with respect to all of the above.

AML Program. (a) The Trust Fund hereby appoints Atlantic TA as its agent as contemplated by 31 USC 5318 and Treasury Rules adopted pursuant to such law and delegates to Atlantic TA as its agent certain responsibilities required under the AML Program as further set out in the AML Program and as described below. Atlantic TA hereby accepts such appointment and delegation. (b) In connection with such appointment, Atlantic TA represents and warrants to the Trust Fund that Atlantic TA has adopted and implemented written policies and procedures ("AML AM L Policies and Procedures") reasonably designed to carry out the responsibilities delegated to Atlantic TA by the Trust Fund under the TrustFund's AML Program, which procedures include: (i) verification of the identity of persons purchasing Shares of the Trust Fund or otherwise becoming Shareholders of the TrustFund; (ii) screening Shareholders before, or immediately following, the time when each becomes a Shareholder and regularly thereafter, against lists provided by the Office of Foreign Assets Control ("OFAC") or other regulators as requested by the Financial Crimes Enforcement Network ("FinCEN"); (iii) monitoring, and reporting to the TrustFund's Anti-Money Laundering Compliance Officer ("AMLCO"), any receipts on behalf of the Trust Fund of more than $10,000 in currency (as defined by Treasury Rule 1010.100(m)), whether received in a single transaction or in a series of related transactions; (iv) documenting receipts of funds of $3,000 or moremonitoring compliance with the "Travel Rule" (131 CFR 103.33(g)); (v) identifying correspondent accounts and applications subject to the due diligence requirements of Section 312 of the Patriot Act and prompt reporting of such identification to the AMLCO; (vi) monitoring for any suspicious activity indicating the possibility of money laundering, financing of terrorist activities or criminal activities being conducted through the TrustFund; (vii) maintaining the confidentiality of all information obtained, reviewed, developed and reported under the AML Policies and Procedures; (viii) training all employees in complying with the AML Policies and Procedures; and (ix) maintaining books and records with respect to all of the above.