Common use of Asset Control Clause in Contracts

Asset Control. (a) Each of the Borrowers is not a Prohibited Person, is not owned or controlled by, or acting directly or indirectly on behalf of or for the benefit of, a Prohibited Person and does not own or control a Prohibited Person;

Appears in 4 contracts

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)

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Asset Control. (a) Each of the Borrowers The Borrower is not a Prohibited Person, is not owned or controlled by, or or, to the best of its knowledge, acting directly or indirectly on behalf of or for the benefit of, a Prohibited Person and does not own or control a Prohibited Person;

Appears in 2 contracts

Samples: Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.)

Asset Control. (a) Each of the Borrowers is not located in a country or territory that is the subject of Sanctions, is not a Prohibited Person, is not owned or controlled by, or acting directly or indirectly on behalf of or for the benefit of, a Prohibited Person and does not own or control a Prohibited PersonPerson and to the best of its knowledge no director, officer, employee, agent, affiliate or representative of the Borrower is currently the subject of Sanctions;

Appears in 2 contracts

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)

Asset Control. (a) Each of the Borrowers The Borrower is not a Prohibited Person, is not owned or controlled by, or or, to the best of its knowledge, acting directly or indirectly on behalf of or for the benefit of, a Prohibited Person and does not own or control a Prohibited Person;

Appears in 2 contracts

Samples: Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.)

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Asset Control. (a) Each of the Borrowers The Borrower is not a Prohibited Person, is not owned or controlled by, or acting directly or indirectly on behalf of or for the benefit of, a Prohibited Person and does not own or control a Prohibited Person;

Appears in 1 contract

Samples: Loan Agreement (Eagle Bulk Shipping Inc.)

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