Common use of Foreign Assets Control Regulations Clause in Contracts

Foreign Assets Control Regulations. (a) The Borrower shall not use the proceeds of the Loans in any manner that will violate the Trading with the Enemy Act, as amended, or any of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or the Anti-Terrorism Order of any enabling legislation or Executive Order relating to any of the same. Without limiting the foregoing, the Borrower will not permit itself or any of its Subsidiaries to (1) become a blocked person described in Section 1 of the Anti-Terrorism Order or (ii) knowingly engage in any dealings or transactions or be otherwise associated with any person who is known by the Borrower or who (after such inquiry as may be required by Applicable Law) should be known by the Borrower to be a blocked person. (b) Each member or other direct or indirect principal of Borrower shall be at all times during the term of the Loans an entity or person which (i) is (as whose principals shall be) a reputable entity or person of good character and in good standing as reasonably determined by the Lender, (ii) is creditworthy and not adverse to the Lender in any pending litigation or arbitration in which the Lender is also a party, (iii) is not a Prohibited Person, and (iv) is in good standing in its state or country or organization.

Foreign Assets Control Regulations. (a1) The Borrower shall not use the proceeds of the Loans in any manner that will violate the Trading with the Enemy Act, as amended, or any of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or the Anti-Terrorism Order of any enabling legislation or Executive Order relating to any of the same. Without limiting the foregoing, the Borrower will not permit itself or any of its Subsidiaries to (1a) become a blocked person described in Section 1 of the Anti-Terrorism Order or (iib) knowingly engage in any dealings or transactions or be otherwise associated with any person who is known by the Borrower or who (after such inquiry as may be required by Applicable Law) should be known by the Borrower to be a blocked person. (b2) Each member or other direct or indirect principal of Borrower shall be at all times during the term of the Loans an entity or person which (ia) is (as whose principals shall be) a reputable entity or person of good character and in good standing as reasonably determined by the Lender, (iib) is creditworthy and not adverse to the Lender in any pending litigation or arbitration in which the Lender is also a party, (iiic) is not a Prohibited Person, and (ivd) is in good standing in its state or country or organization.

Foreign Assets Control Regulations. (a) The Borrower shall not use the proceeds of the Loans Loan in any manner that will violate the Trading with the Enemy Act, as amended, or any of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or the Anti-Terrorism Order of any enabling legislation or Executive Order relating to any of the same. Without limiting the foregoing, the Borrower will not permit itself or any of its Subsidiaries to (1) become a blocked person described in Section 1 of the Anti-Terrorism Order or (ii) knowingly engage in any dealings or transactions or be otherwise associated with any person who is known by the Borrower or who (after such inquiry as may be required by Applicable Law) should be known by the Borrower to be a blocked person. (b) Each member or other direct or indirect principal of Borrower shall be at all times during the term of the Loans Loan an entity or person which (i) is (as whose principals shall be) a reputable entity or person of good character and in good standing as reasonably determined by the Lender, (ii) is creditworthy and not adverse to the Lender in any pending litigation or arbitration in which the Lender is also a party, (iii) is not a Prohibited Person, and (iv) is in good standing in its state or country or organization.

Foreign Assets Control Regulations. (a1) The Borrower shall not use the proceeds of the Loans Loan in any manner that will violate the Trading with the Enemy Act, as amended, or any of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or the Anti-Terrorism Order of any enabling legislation or Executive Order relating to any of the same. Without limiting the foregoing, the Borrower will not permit itself or any of its Subsidiaries to (1a) become a blocked person described in Section 1 of the Anti-Terrorism Order or (iib) knowingly engage in any dealings or transactions or be otherwise associated with any person who is known by the Borrower or who (after such inquiry as may be required by Applicable Law) should be known by the Borrower to be a blocked person. (b2) Each member or other direct or indirect principal of Borrower shall be at all times during the term of the Loans Loan an entity or person which (ia) is (as whose principals shall be) a reputable entity or person of good character and in good standing as reasonably determined by the Lender, (iib) is creditworthy and not adverse to the Lender in any pending litigation or arbitration in which the Lender is also a party, (iiic) is not a Prohibited Person, and (ivd) is in good standing in its state or country or organization.