Common use of Anti-Terrorism Laws; Anti-Corruption Laws Clause in Contracts

Anti-Terrorism Laws; Anti-Corruption Laws. (a) To the extent applicable, IR Parent, each Borrower and the Subsidiaries are in compliance, in all material respects, with (i) the Trading with the Enemy Act, as amended, and each of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto, and (ii) the Patriot Act. No part of the proceeds of the Loans will be used by IR Parent, any Borrower or any of the Subsidiaries, for the purpose of funding or financing any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as amended. (b) None of IR Parent, any Borrower or any Subsidiary nor, to the knowledge of IR Parent or any Borrower, any director, officer, agent, employee or Affiliate of IR Parent, any Borrower or any Subsidiary, (i) is a Blocked Person or (ii) is subject to any U.S. sanctions administered by the OFAC; and none of IR Parent, any Borrower or any Subsidiary will use the proceeds of the Loans for the purpose of financing the activities of any person that, at the time of such financing, is the subject of any U.S. sanctions administered by OFAC.

Appears in 2 contracts

Samples: Credit Agreement (Ingersoll-Rand PLC), Credit Agreement (Ingersoll-Rand PLC)

AutoNDA by SimpleDocs

Anti-Terrorism Laws; Anti-Corruption Laws. (a) To the extent applicable, IR Parent, each the Borrower and the Subsidiaries are in compliance, in all material respects, with (i) the Trading with the Enemy Act, as amended, and each of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto, and (ii) the Patriot USA PATRIOT Act. No part of the proceeds of the Loans will be used by IR Parent, any the Borrower or any of the Subsidiaries, for the purpose of funding or financing any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as amended. (b) None of IR Parent, any the Borrower or any Subsidiary nor, to the knowledge of IR Parent or any the Borrower, any director, officer, agent, employee or Affiliate of IR Parent, any the Borrower or any Subsidiary, (i) is a Blocked Person or (ii) is currently subject to any U.S. sanctions administered by the OFAC; and none of IR Parent, any the Borrower or any Subsidiary will use the proceeds of the Loans for the purpose of financing the activities of any person that, at the time of such financing, is the currently subject of to any U.S. sanctions administered by OFAC.

Appears in 1 contract

Samples: Credit Agreement (Ingersoll-Rand PLC)

AutoNDA by SimpleDocs

Anti-Terrorism Laws; Anti-Corruption Laws. (a) To the extent applicable, IR Parent, each Borrower and the Restricted Subsidiaries are in compliance, in all material respects, with (i) the Trading with the Enemy Act, as amended, and each of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto, and (ii) the Patriot USA PATRIOT Act. No part of the proceeds of the Loans will be used by IR Parent, any Borrower or any of the Restricted Subsidiaries, directly or, to the knowledge of any Borrower, indirectly, for the purpose of funding or financing any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as amended. (b) None of IR Parent, any No Borrower or any Restricted Subsidiary nor, to the knowledge of IR Parent or any Borrower, any director, officer, agent, employee or Affiliate of IR Parent, any Borrower or any Restricted Subsidiary, (i) is a Blocked Person or (ii) is currently subject to any U.S. sanctions administered by the OFAC; and none of IR Parent, any no Borrower or any Restricted Subsidiary will use the proceeds of the Loans for the purpose of financing the activities of any person that, at the time of such financing, is the subject of to any U.S. sanctions administered by OFACset forth in clause (ii) hereof.

Appears in 1 contract

Samples: Credit Agreement (Allegion PLC)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!