No Restricted Party Sample Clauses
The "No Restricted Party" clause ensures that neither party to the agreement is subject to sanctions, export restrictions, or other legal prohibitions that would prevent them from lawfully entering into or performing the contract. In practice, this clause requires each party to confirm that they are not listed on government sanctions lists or otherwise barred from certain transactions, such as those involving specific countries or entities. Its core function is to protect both parties from inadvertently violating laws or regulations related to international trade or security, thereby reducing legal and compliance risks.
No Restricted Party none of the Obligors is a Restricted Party, nor have they or any of their directors, officers or employees received notice or are aware of any claim, action, suit, proceeding or investigation against them with respect to Sanctions by a Sanctions Authority;
No Restricted Party no Obligor is a Restricted Party nor has any Obligor or any of their respective directors, officers or employees or any person acting on their behalf received notice or are aware of any claim, action, suit, proceeding or investigation against any of them with respect to Sanctions by a Sanctions Authority;