Sanctions Clause. Chubb shall not provide cover and Chubb shall not be liable to pay any claim or provide any benefit hereunder to the extent that the provision of such cover, payment of such claim or provision of such benefit would expose Chubb to any sanction, prohibition or restriction under United Nations resolutions or the trade or economic sanctions, laws or regulations of the European Union, United Kingdom or United States of America. Chubb shall not cover any claim arising under this policy arising out of any trip in, to or through Cuba.
Sanctions Clause. Owners represent, warrant, guarantee and undertake that:
(a) Owners are not a target of Sanction or a Sanctioned Entity;
(b) the vessel is not a target of Sanction or a Sanctioned Entity; and
(c) to the best of their knowledge, after having made due enquiries, none of the operational manager, the technical manager nor any owners above the Owners in the chartering chain of the vessel (if applicable), nor the registered owner nor the ultimate beneficial owners of the vessel are Sanctioned Entities or a target of Sanction. For the purposes of this clause 117:
Sanctions Clause. Owners represent, warrant, guarantee and undertake that:
Sanctions Clause. The parties warrant to each other that they have an active sanctions policy in place and that to the best of their knowledge none of the parties connected to the purchase of the vessel are Specially Designated Nationals under United Nations and / or United States of America and / or European Union sanctions. The Sellers confirm that to the best of their knowledge the Vessel is not blacklisted / boycotted by any nation or organization.
Sanctions Clause. Notwithstanding any other terms under this cover agreement, no company shall be deemed to provide coverage or will make any payments or provide any service or benefit to any participant or other party to the extent that such cover, payment, service, benefit and/or any business or activity of the participant would violate any applicable trade or economic sanctions law or regulation.
Sanctions Clause. (a) You represent and warrant to Glencore as at the date of this Agreement and throughout its duration that:
i. neither you nor any of your subsidiaries (collectively, the “Company”) or directors, senior executives or officers, or to the knowledge of the Company, any person on whose behalf the Company is acting in connection with the subject matter of the Agreement, is an individual or entity (“Person”) that is, or is 50% or more owned or controlled by, a Person (or Persons) that is the subject of any economic or financial sanctions or trade embargoes administered or enforced by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) the U.S. Departments of State or Commerce, the United Nations Security Council (“UNSC”), the European Union (“EU”), Switzerland or any other applicable sanctions authority (collectively, “Sanctions”) or based, organized or resident in a country or territory that is the subject of comprehensive (i.e., country-wide or territory-wide) Sanctions (including, as of the date of signature of this Agreement, Crimea, Cuba, Donetsk People’s Republic, Iran, Luhansk People’s Republic North Korea and Syria) (a "Sanctioned Country") (collectively, a "Sanctioned Person");
ii. no Sanctioned Person has any beneficial or other property interest in the Agreement nor will have any participation in or derive any other financial or economic benefit from the Agreement;
iii. it will not use, or make available, the Supply or funds (as applicable) provided by Glencore in terms of the Agreement (i) to fund or facilitate any activities or business of, with or related to any Sanctioned Country or Sanctioned Person, or (ii) in any manner that would result in a violation of Sanctions, or
Sanctions Clause. Notwithstanding any other terms under this agreement, no insurer shall be deemed to provide coverage or will make any payments or provide any service or benefit to any participant or other party to the extent that such cover, payment, service, benefit and/or any business or activity of the participant would violate any applicable trade or economic sanction law or regulation.
Sanctions Clause. The Company is not liable to make any payment for any claim under any coverage sections of this Policy or make any payment under any extension for any loss or claim arising in, or where the Insured Person or any beneficiary under the Policy is a citizen or instrumentality of the government of any country against which any laws and/or regulations governing this Policy and/or the Company, its parent Company or its ultimate controlling entity have established an embargo or other form of economic sanction which have the effect of prohibiting the Company to provide insurance coverage transacting business with or otherwise offering economic benefits to the insured or any other beneficiary under the Policy. It is further understood and agreed that no benefits of payments will be made to any beneficiary who is or are declared unable to receive economic benefits under the laws and/or regulations governing this Policy and/or the Company, its parent Company or its ultimate controlling entity.
Sanctions Clause. Each party represents and warrants to the other party that:
(a) neither it nor any of its subsidiaries or affiliates (collectively, the “Company”) or directors, senior executives or officers, or to the knowledge of the Company, any person on whose behalf the Company is acting in connection with the Agreement, is an individual or entity (“Person”) that is, or is 50 % (fifty percent) or more owned or controlled by, a Person (or Persons) that is the subject of any economic or financial sanctions or trade embargoes administered or enforced by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”), the U.S. Departments of State or Commerce, the United Nations Security Council (“UNSC”), the European Union (“EU”), Switzerland or other applicable sanctions authority (collectively “Sanctions”) or based, organized or resident in a country or territory that is the subject of comprehensive (i.e. country-wide or territory-wide) Sanctions (including as of the date of signature of this Agreement, Crimea, Cuba, Iran, North Korea and Syria) (a “Sanctioned Country”) (collectively a “Sanctioned Person”);
(b) no Sanctioned Person has any beneficial or other property interest in the Agreement nor will have any participation in or derive any other financial or economic benefit from the Agreement; and
(c) it will not use, or make available, the Concentrate or funds (as applicable) provided by Seller in terms of the Agreement to fund or facilitate any activities or business of, with or related to any Sanctioned Country or Sanctioned Person, or in any manner that would result in a violation of Sanctions. If either party has sufficient evidence showing that the other party has breached this clause, it may (without incurring any liability of any nature to the other party whatsoever) terminate or suspend all or any part of the Agreement with immediate effect by notice to the other party or take any other action it deems necessary in order for the other party to comply with applicable sanctions. The defaulting party shall be liable for any and all costs, liabilities and expenses whatsoever incurred by the non-defaulting party due to them exercising their rights under this clause. Any exercise by the party of its right under this clause shall be without prejudice to any other rights or remedies of the other party under the Agreement.
Sanctions Clause. Notwithstanding any other terms under this cover agreement, no Company shall be deemed to provide coverage or will make any payments or provide any service or benefit to any Participant or other party to the extent that such cover, payment, service, benefit and/or any business or activity of the Participant would violate any applicable trade or economic sanctions law or regulation.
19. Procedures to be followed in the event of loss or damage which may give rise to a claim It is a condition precedent to Company’s liability that in the event of a claim you act as follows:
19.1 In the case of theft or hijack, and as soon as the occurrence is known, IMMEDIATE NOTIFICATION must be given to:
19.2 The Company must be notified as soon as possible but not later than TWO WORKING DAYS after the occurrence.
19.3 Take all reasonable steps to recover the stolen property and to discover the guilty party.
19.4 Advise the Company of any claim (other than theft, hijack, or a claim from a third party), as soon as possible from the time of the occurrence that may lead to a claim but not later than TEN WORKING DAYS after the occurrence.
19.5 In the case of a serious claim where damage to the covered vehicle is likely to exceed R100,000 (one hundred thousand Rand) and/or more than one third party is involved in the event, IMMEDIATE NOTIFICATION must be given to:
19.6 Inform the South African Police Service as soon as possible and in any event not later than 24 (twenty four) hours following the accident or theft of property.
19.7 Complete a claim form as soon as is reasonably possible and provide the Company with all material information as requested. The Company will be under no obligation to proceed with a claim if you do not provide, in full, the required information.
19.8 Provide the Participant with material proof, information, sworn declarations and any other documentation that the Company may require as soon as practicable.
19.9 Provide the Company with the particulars of any other cover that covers the same events as any Section of your Agreement.
19.10 Immediately forward to the Company any notice of a claim, communication, writ, summons or other legal process issued or commenced against you in connection with the occurrence.
20. Cover provided by SASRIA
20.1 Subject to the terms, exceptions and conditions contained herein, SASRIA will indemnify the Participant against loss of or damage to the property described in the Statement of Cover directly related to or caused by...
