Common use of Compliance with OFAC/AML Laws Clause in Contracts

Compliance with OFAC/AML Laws. (a) Such Borrower shall at all times comply with the requirements of all OFAC/AML Laws applicable to such Borrower in the jurisdictions in which it operates. (b) Such Borrower shall provide the Lender any information regarding such Borrower as may be necessary for the Lender to comply with all applicable OFAC/AML Laws. (c) If such Borrower obtains actual knowledge or receives any written notice that such Borrower is named on the then current OFAC SDN List (such occurrence, an “OFAC Event”), such Borrower shall promptly (i) give written notice to the Lender of such OFAC Event, and (ii) comply with all applicable laws with respect to such OFAC Event (regardless of whether the party included on the OFAC SDN List is located within the jurisdiction of the United States of America), including the OFAC/AML Laws, and such Borrower hereby authorizes and consents to the Lender taking any and all reasonable steps the Lender deems necessary, in its sole but reasonable discretion to avoid violation of any applicable laws with respect to any such OFAC Event, including the requirements of the OFAC/AML Laws (including the freezing and/or blocking of assets and reporting such action to OFAC).