Common use of Iran Linked Business Clause in Contracts

Iran Linked Business. The Vendor, in its Proposal and by its entry into this Agreement, certifies to the Land Bank that neither it nor any of its successors, parent companies, subsidiaries, or companies under common ownership or control of the Vendor, are an “Iran Linked Business” engaged in investment activities of $20,000,000.00 or more with the energy sector of Iran, within the meaning of Michigan Public Act 517 of 2012. It is expressly understood and agreed that the Vendor shall not become an “Iran linked business” during the term of this Agreement.

Iran Linked Business. The VendorContractor, in its Proposal and by its entry into this Agreement, certifies to the Land Bank that neither it nor any of its successors, parent companies, subsidiaries, or companies under common ownership or control of the VendorContractor, are an “Iran Linked Business” engaged in investment activities of $20,000,000.00 or more with the energy sector of Iran, within the meaning of Michigan Public Act 517 of 2012. It is expressly understood and agreed that the Vendor Contractor shall not become an “Iran linked business” during the term of this Agreement.