No U.S. Activities. Neither the Corporation nor any of its Subsidiaries nor any director, officer, employee or any agent or other person acting on behalf of the Corporation or any Subsidiary in such capacity (collectively, "Covered Persons") nor, to the Corporation's knowledge after reasonable inquiry, any entity in which the Corporation directly or indirectly has an interest, has cultivated, produced, processed, imported, exported, sold or distributed any cannabis or cannabinoid product or has otherwise engaged in, or targeted or derived (or reasonably expects to derive) revenues or funds from, any direct or indirect dealings or transactions with respect to the foregoing activities in or to any jurisdiction where such activity is, or at the relevant time was, illegal (including the United States of America, its territories and possessions, any state of the United States and the District of Columbia). In addition, no Covered Person has any current intention to engage in any of the foregoing. Neither the Corporation nor any of its Subsidiaries has operated in or exported any cannabis or cannabinoid product to any jurisdiction except as disclosed in the Registration Statement, Prospectuses and Disclosure Package and in compliance with applicable Laws of each of the jurisdictions of import, export and transshipment. The Corporation and its Subsidiaries have instituted and maintained policies and procedures reasonably designed to ensure that the Corporation and its Subsidiaries do not carry on any activities in, or distribute any products to, any jurisdiction where such activities or products are not fully in compliance with applicable Laws, and that the Corporation and its Subsidiaries do not maintain investments in any entity that carries on any activities in, or distributes any products to, any jurisdiction where such activities or products are not fully in compliance with applicable Laws.
No U.S. Activities. Neither the Company nor any of its Subsidiaries or Partnerships nor any director or officer nor, to the Company's knowledge after reasonable inquiry, any employee, any agent or other person acting on behalf of the Company or any Subsidiary or Partnership or any entity in which the Company holds an equity interest, has cultivated, produced, processed, imported or distributed any cannabis or cannabinoid product or has otherwise engaged in any direct or indirect dealings or transactions, in each case, involving the purchase or sale of cannabis or cannabinoid products by the Company or any of its controlled Subsidiaries or Partnerships in or to any jurisdiction (including the United States of America, its territories and possessions, any state of the United States and the District of Columbia) where such activity is illegal. The Company and its Subsidiaries and Partnerships have instituted and maintained policies and procedures reasonably designed to ensure that the Company and its Subsidiaries and Partnerships do not carry on any activities in, or distribute any products to, any jurisdiction where such activities or products are not fully in compliance with Applicable Laws, and that the Company does not maintain investments in any entity that carries on any activities in, or distributes any products to, any jurisdiction where such activities or products are not fully in compliance with Applicable Laws.
No U.S. Activities. The Company and the Securityholders understand and acknowledge that the Regulated Investors are regulated under Regulation K promulgated under the U.S. Bank Holding Company Act, as amended. In this respect, the Company shall not, and shall not permit its subsidiaries to, directly or indirectly engage in or transact any business or activities in, or carry on or maintain a place of business, or invest in or own any entity engaged in or transacting any business in, the United States without the prior written consent of each Regulated Investor (provided that this shall not prohibit the Company from providing long distance telephone service from Mexico to the United States). In the event that the Company desires to engage in any activity which would violate this Section 5(d), the Regulated Investors agree to cooperate and work with the Company to develop (if reasonably feasible) an alternate arrangement or structure which would be permissible under Regulation K promulgated under the U.S. Bank Holding Company Act, as amended.
