Transition Period for Remediation and Enforcement Sample Clauses
The "Transition Period for Remediation and Enforcement" clause establishes a defined timeframe during which parties are allowed to address and correct any breaches or non-compliance before formal enforcement actions or penalties are imposed. Typically, this period gives the non-compliant party notice of the issue and a set number of days to remedy the situation, such as fixing a contractual violation or updating documentation to meet requirements. The core function of this clause is to provide a fair opportunity for correction, reducing the risk of immediate penalties and fostering cooperation between parties to resolve issues without resorting to litigation or termination.
Transition Period for Remediation and Enforcement. 4.4.1 The Competent Authorities intend calendar years 2014 and 2015 to be a transition period for purposes of the enforcement and administration of any data collection, due diligence, information reporting, automatic information exchange, and withholding requirements described in the IGA. The Competent Authorities intend to take into account the good faith efforts of each other, Reporting Financial Institutions, and Paragraph
1.1.2 Financial Institutions toward compliance with any such requirements during this transition period when pursuing enforcement.
Transition Period for Remediation and Enforcement. 4.4.1 The Competent Authorities intend calendar years 2014 and 2015 to be a
Transition Period for Remediation and Enforcement. 4.4.1 The Competent Authorities intend calendar years 2014 and 2015 to be a transition period for purposes of the enforcement and administration of any data collection, due diligence, information reporting, automatic information exchange, and withholding requirements described in the IGA. The U.S. Competent Authority intends to take into account the good faith efforts of the Commonwealth of Dominica Competent Authority, Reporting Commonwealth of Dominica Financial Institutions, and Paragraph
1.1.2 Financial Institutions toward compliance with any such requirements during this transition period when pursuing enforcement.
Transition Period for Remediation and Enforcement. 4.4.1 The Competent Authorities intend calendar years 2014 and 2015 to be a transition period for purposes of the enforcement and administration of any data collection, due diligence, information reporting, automatic information exchange, and withholding requirements described in the IGA. The U.S. Competent Authority intends to take into account the good faith efforts of the Serbian Competent Authority, Reporting Serbian Financial Institutions, and Paragraph
1.1.2 Financial Institutions toward compliance with any such requirements during this transition period when pursuing enforcement.
Transition Period for Remediation and Enforcement. 4.4.1 The Competent Authorities intend calendar years 2014 and 2015 to be a transition period for purposes of the enforcement and administration of any data collection, due diligence, information reporting, automatic information exchange, and withholding requirements described in the IGA. The U.S. Competent Authority intends to take into account the good faith efforts of the Kuwait Competent Authority, Reporting Kuwait Financial Institutions, and Paragraph 1.
Transition Period for Remediation and Enforcement. 4.4.1 The Competent Authorities intend calendar years 2014 and 2015 to be a transition period for purposes of the enforcement and administration of any data collection, due diligence, information reporting, automatic information exchange, and withholding requirements described in the IGA. The U.S. Competent Authority intends to take into account the good faith efforts of the Kingdom of Saudi Arabia Competent Authority, Reporting Kingdom of Saudi Arabia Financial Institutions, and Paragraph 1.1.2 Financial Institutions toward compliance with any such requirements during this transition period when pursuing enforcement.
4.4.2 The transition period described in Paragraph 4.4.1 may be extended by the U.S. Competent Authority following consultation with the Kingdom of Saudi Arabia Competent Authority.
Transition Period for Remediation and Enforcement. 4.4.1 The Competent Authorities intend calendar years 2014 and 2015 to be a transition period for purposes of the enforcement and administration of any data collection, due diligence, information reporting, automatic information exchange, and withholding requirements described in the IGA. The U.S. Competent Authority intends to take into account the good faith efforts of the Algerian Competent Authority, Reporting Algerian Financial Institutions, and Paragraph
1.1.2 Financial Institutions toward compliance with any such requirements during this transition period when pursuing enforcement.
Transition Period for Remediation and Enforcement. 4.4.1 The Competent Authorities intend calendar years 2014 and 2015 to be a transition period for purposes of the enforcement and administration of any data collection, due diligence, information reporting, automatic information exchange, and withholding requirements described in the IGA. The U.S. Competent Authority intends to take into account the good faith efforts of the Georgian Competent Authority, Reporting Georgian Financial Institutions, and Paragraph
1.1.2 Financial Institutions toward compliance with any such requirements during this transition period when pursuing enforcement.
Transition Period for Remediation and Enforcement. 4.4.1 The Competent Authorities intend calendar years 2014 and 2015 to be a transition period for purposes of the enforcement and administration of any data collection, due diligence, information reporting, automatic information exchange, and withholding requirements described in the IGA. The U.S. Competent Authority intends to take into account the good faith efforts of The Bahamas Competent Authority, Reporting Bahamas Financial Institutions, and Paragraph
1.1.2 Financial Institutions toward compliance with any such requirements during this transition period when pursuing enforcement.
Transition Period for Remediation and Enforcement. 4.4.1 The Competent Authorities intend calendar years 2014 and 2015 to be a transition period for purposes of the enforcement and administration of any data collection, due diligence, information reporting, automatic information exchange, and withholding requirements described in the IGA. The U.S. Competent Authority intends to take into account the good faith efforts of the Bahrain Competent Authority, Reporting Bahrain Financial Institutions, and Paragraph
1.1.2 Financial Institutions toward compliance with any such requirements during this transition period when pursuing enforcement.