Common use of Sanctioned Person Clause in Contracts

Sanctioned Person. As of each Borrowing Date, (a) None of the BVI Borrower, any other Loan Party, or any Subsidiary of any thereof, or any Person that owns or Controls any such Loan Party (other than the BVI Borrower) or any such Subsidiary is a Sanctioned Person and (b) none of the proceeds of the Loans will be used, contributed or made available, directly or indirectly, (i) to fund any activities, business or transactions with a Sanctioned Person or with Sanctions Jurisdictions in violation of a Sanctions Program or (ii) in a manner that would, directly or indirectly, result in a violation of any Sanctions Programs or would otherwise cause any Lender or any other party to this Agreement to violate Sanctions Programs.