Common use of No Exchange Control Clause in Contracts

No Exchange Control. No foreign exchange control regulations are in existence in the Isle of Man in relation to the exchange and remittance of sterling or any other currency from the Isle of Man and no authorisations, approvals or consents will be required from any authority in the Isle of Man in relation to the exchange and remittance of sterling and any other currency whether awarded by reason of a judgment or otherwise falling due and having been paid in the Isle of Man in relation to any obligation set out in any of the Documents.