Common use of Compliance with Economic Sanctions Laws Clause in Contracts

Compliance with Economic Sanctions Laws. (a) The Lessor is subject to and complies with all laws, regulations, and orders administered by the United States Treasury Department’s Office of Foreign Assets Control or any other governmental authority imposing economic sanctions and trade embargoes (“Economic Sanctions Laws”) against designated countries (including, but not limited to, Iran, Syria, Cuba, North Korea, and Libya), entities, and persons (collectively, “Embargoed Targets”). As such, the Lessor is prohibited from conducting any business, directly or indirectly, with any Embargoed Target.