Common use of Sanctions Matters Clause in Contracts

Sanctions Matters. Promptly and in any event within five Business Days after any Credit Party obtains actual knowledge thereof, the relevant Credit Party shall supply to the Administrative Agent (i) the details of any inquiry, claim, action, suit, proceeding or investigation pursuant to Sanctions Laws by any Sanctions Authority against it, any of its Subsidiaries, any Subsidiary of the Borrower that is a sister company of the Borrower (any such company, a “Sister Company”), any Subsidiary of a Sister Company, any of their respective direct or indirect owners, or any of their respective directors, officers, employees, agents or representatives as well as information on what steps are being taken to answer or oppose such inquiry, claim, action, suit, proceeding or investigation and (ii) that any Credit Party, any of its Subsidiaries, any Sister Company, any Subsidiary of a Sister Company or any of their respective direct or indirect owners, or any of their respective directors, officers, employees agents or representatives has become or is likely to become a Restricted Party. The Credit Parties shall not repay (or permit the repayment of) any portion of the Loan, or pay any interest thereon, from funds sourced from a Restricted Party or from any proceeds of any business directly or, to its knowledge, indirectly with, any Restricted Party.

Sanctions Matters. Promptly and in any event within five Business Days after any Credit Party obtains actual knowledge thereof, the relevant Credit Party shall supply to the Administrative Agent (i) the details of any inquiry, claim, action, suit, proceeding or investigation pursuant to Sanctions Laws by any Sanctions Authority against it, any of its Subsidiaries, any Subsidiary of the Borrower Corporate Guarantor that is a sister company of the Borrower (any such company, a “Sister Company”), any Subsidiary of a Sister Company, any of their respective direct or indirect owners, or any of their respective directors, officers, employees, agents or representatives as well as information on what steps are being taken to answer or oppose such inquiry, claim, action, suit, proceeding or investigation and (ii) that any Credit Party, any of its Subsidiaries, any Sister Company, any Subsidiary of a Sister Company or any of their respective direct or indirect owners, or any of their respective directors, officers, employees agents or representatives has become or is likely to become a Restricted Party. The Credit Parties shall not repay (or permit the repayment of) any portion of the Loan, or pay any interest thereon, from funds sourced from a Restricted Party or from any proceeds of any business directly or, to its knowledge, indirectly with, any Restricted Party.

Sanctions Matters. Promptly and in any event within five Business Days after any Credit Party obtains actual knowledge thereof, the relevant Credit Party shall supply to the Administrative Agent (i) the details of any inquiry, claim, action, suit, proceeding or investigation pursuant to Sanctions Laws by any Sanctions Authority against it, any of its Subsidiaries, any Subsidiary of the Borrower Parent Guarantor that is a sister company of the Borrower (any such company, a “Sister Company”), any Subsidiary of a Sister Company, any of their respective direct or indirect owners, or any of their respective directors, officers, employees, agents or representatives as well as information on what steps are being taken to answer or oppose such inquiry, claim, action, suit, proceeding or investigation and (ii) that any Credit Party, any of its Subsidiaries, any Sister Company, any Subsidiary of a Sister Company or any of their respective direct or indirect owners, or any of their respective directors, officers, employees agents or representatives has become or is likely to become a Restricted Party. The Credit Loan Parties shall not repay (or permit the repayment of) any portion of the Loan, or pay any interest thereon, from funds sourced from a Restricted Party or from any proceeds of any business directly or, to its knowledge, indirectly with, any Restricted Party.

Sanctions Matters. Promptly and in any event within five Business Days after any Credit Party obtains actual knowledge thereof, the relevant Credit Party shall supply to the Administrative Agent (i) the details of any inquiry, claim, action, suit, proceeding or investigation pursuant to Sanctions Laws by any Sanctions Authority against it, any of its Subsidiaries, any Subsidiary of the Borrower Parent Guarantor that is a sister company of the Borrower (any such company, a “Sister Company”), any Subsidiary of a Sister Company, any of their respective direct or indirect owners, or any of their respective directors, officers, employees, agents or representatives as well as information on what steps are being taken to answer or oppose such inquiry, claim, action, suit, proceeding or investigation and (ii) that any Credit Party, any of its Subsidiaries, any Sister Company, any Subsidiary of a Sister Company or any of their respective direct or indirect owners, or any of their respective directors, officers, employees agents or representatives has become or is likely to become a Restricted Party. The Credit Parties shall not repay (or permit the repayment of) any portion of the Loan, or pay any interest thereon, from funds sourced from a Restricted Party or from any proceeds of any business directly or, to its knowledge, indirectly with, any Restricted Party.