OFAC Covenant. Borrower shall ensure, and cause each of its subsidiaries to ensure, that (i) no person who owns twenty percent (20.00%) or more of the equity interests in Borrower, or otherwise controls Borrower or any of its subsidiaries is or shall be listed on the Specially Designated Nationals and Blocked Person List or other similar lists maintained by the Office of Foreign Assets Control (“OFAC”), the Department of the Treasury or included in any Executive Orders, (ii) the proceeds of the Loan do not violate any of the foreign asset control regulations of OFAC or any enabling statute or Executive Order relating thereto, and (iii) it shall comply, and cause each of its subsidiaries to comply, with all applicable Bank Secrecy Act (“BSA”) laws and regulations, as amended.
Appears in 4 contracts
Samples: Mortgage, Security Agreement (Grubb & Ellis Healthcare REIT, Inc.), Mortgage, Security Agreement (Grubb & Ellis Healthcare REIT, Inc.), Mortgage, Security Agreement (Grubb & Ellis Healthcare REIT, Inc.)
