Examples of Economic Sanctions in a sentence
The covenants made in this Section 7.2.8 are made only to the extent that Economic Sanctions Laws and/or Anti-Terrorism Laws applicable to the relevant Obligor do not conflict with, (i) if such Obligor is incorporated or organized in Germany or otherwise qualifies as a resident (Inländer) within the meaning of Section 2 (15) of the German Foreign Trade Act (“Außenwirtschaftsgesetz”), Section 7 of the Foreign Trade and Payments Ordinance Regulation (Außenwirtschaftsverordnung - AWV) or Art.
On March 4, 2022, Governor Xxxxx Xxxxxx issued Executive Order N-6-22 (the EO) regarding Economic Sanctions against Russia and Russian entities and individuals.
Seller represents that neither Seller nor any of its Affiliates or, to its knowledge, any director, officer, or employee of Seller or any of its Affiliates is a Person who (i) is the target of any Economic Sanctions Laws (“Embargoed Target”) or (ii) is located, organized, or resident in a country or territory that is, or whose government is, the target of sanctions imposed by OFAC or any other Governmental Authority (“Embargoed Countries”).
The Obligors and their Subsidiaries (a) have taken reasonable measures to ensure compliance with applicable Economic Sanctions Laws and Anti-Terrorism Laws, (b) are not Designated Persons and (c) have not used any part of the proceeds from any advance on behalf of any Designated Person or have not used, directly by any Obligor #98195096v26 or indirectly through any Subsidiary, such proceeds in connection with any investment in, or any transactions or dealings with, any Designated Person.
Seller shall promptly notify Buyer if it or any of its Affiliates, or any of its or any of its Affiliates’ directors, officers, employees, or agents becomes the target of any Economic Sanctions Laws, or the country or territory where any of them is located, organized, or resident becomes the target of sanctions imposed by OFAC or any other Governmental Authority.