Common use of Import/Export Clause in Contracts

Import/Export. The seller and the buyer agree to comply with the Applicable Laws, as they relate to the import, export and re-export of information and/or Products. Further, the buyer shall at all times act in compliance with the U.S. Department of Commerce Bureau of Industry and Security’s (“BIS”) Export Administration Regulations (“EAR”), 15 C.F.R. Parts 730-774, and the economic sanctions programs administered by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”), including the Foreign Assets Control Regulations (“FACR”), 31 C.F.R. Parts 501-598, and Executive Orders administered by OFAC when procuring and/or selling Products. Without limiting the foregoing, the buyer shall not disclose or deliver any Products provided hereunder in any manner contrary to any Applicable Laws. The buyer and the seller acknowledge that these Applicable Laws impose restrictions on import, export and transfer to third countries of certain categories of Products, and that authorizations/licenses from the applicable regulatory agency may be required before such Products can be disclosed or delivered hereunder, and that such authorizations/licenses may impose further restrictions on use and further disclosure or delivery of such Products.