Common use of Sanctions and embargo Clause in Contracts

Sanctions and embargo. Neither the Issuer, nor, to its knowledge, any Material Subsidiaries or any of the directors, officers or employees of the Issuer or of its Material Subsidiaries are currently the subject of any sanctions administered by the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) or any other relevant U.S. authority or any similar sanctions imposed by the European Union, any member state of the European Union, United Nations Security Council or HM Treasury (collectively, “Economic Sanctions”). Neither the Issuer nor, to its knowledge, any of its directors and employees, Subsidiaries or directors and employees of such Subsidiaries will use any proceeds raised under the Notes to fund any activities or business with, or investments in, or make any payments to, or for the benefit of, any country, region or territory which is itself, or whose government is, the subject or target of any Economic Sanctions (“Sanctioned Country”) or n individual or entity listed in any Economic Sanctions related list of designated persons (“Designated Persons”) (including, if Designated Persons, any of its subsidiaries, joint ventures, joint venture partners or other individual or entity) or in any manner whatsoever to circumvent the sanctions established against the targeted entities by the OFAC or the European Union. The Issuer undertakes to immediately inform the Fiscal Agent if any of the Issuer, any Material Subsidiaries or any of the directors, officers or employees of the Issuer or of its Material Subsidiaries become the subject of Economic Sanctions in the course of execution of this Agreement. The Fiscal Agent agrees and acknowledges that it is not entitled to the benefit of, and the Issuer does not make or repeat, as appropriate, the representations and warranties and/or the undertaking contained above to the extent that those provisions would result in a violation of, or breach of, Council Regulation (EC) 2271/1996, as amended (the “EU Blocking Regulation”) (or any law and/or regulation implementing the EU Blocking Regulation in any member state of the European Union). In connection with the above situations, the Fiscal Agent shall have the right to immediately resign from the present Agreement, without incurring any liability.

Sanctions and embargo. Neither the Issuer, nor, to its knowledge, any Material Subsidiaries or any of the directors, officers or employees of the Issuer or of its Material Subsidiaries are currently the subject of any sanctions administered by the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) or any other relevant U.S. authority or any similar sanctions imposed by the European Union, any member state of the European Union, United Nations Security Council or HM Treasury (collectively, “Economic Sanctions”). Neither the Issuer nor, to its knowledge, any of its directors and employees, Subsidiaries or directors and employees of such Subsidiaries will use any proceeds raised under the Notes to fund any activities or business with, or investments in, or make any payments to, or for the benefit of, any country, region or territory which is itself, or whose government is, the subject or target of any Economic Sanctions (“Sanctioned Country”) or n individual or entity listed in any Economic Sanctions related list of designated persons (“Designated Persons”) (including, if Designated Persons, any of its subsidiaries, joint ventures, joint venture partners or other individual or entity) or in any manner whatsoever to circumvent the sanctions established against the targeted entities by the OFAC or the European Union. The Issuer undertakes to immediately inform the Fiscal Agent if any of the Issuer, any Material Subsidiaries or any of the directors, officers or employees of the Issuer or of its Material Subsidiaries become the subject of Economic Sanctions in the course of execution of this Agreement. The Fiscal Agent agrees and acknowledges that it is not entitled to the benefit of, and the Issuer does not make or repeat, as appropriate, the representations and warranties and/or the undertaking contained above to the extent that those provisions would result in a violation of, or breach of, Council Regulation (EC) 2271/1996, as amended (the “EU Blocking Regulation”) (or any law and/or regulation implementing the EU Blocking Regulation in any member state of the European Union)) or Council Regulation (EC) 2271/96 as it forms part of domestic law of the United Kingdom by virtue of the EUWA (the "UK Blocking Regulation") as applicable. In connection with the above situations, the Fiscal Agent shall have the right to immediately resign from the present Agreement, without incurring any liability.