Sanctions Regulations Clause Samples
The Sanctions Regulations clause establishes that the parties to an agreement must comply with all applicable economic and trade sanctions laws and regulations. In practice, this means that neither party can engage in transactions or activities that would violate sanctions imposed by governments or international bodies, such as dealing with restricted countries, entities, or individuals. This clause serves to protect both parties from legal and financial risks associated with breaching sanctions laws, ensuring that the contract remains enforceable and that the parties avoid penalties or reputational harm.
Sanctions Regulations. The Borrower will not, and will not permit any of its Affiliated Entities to, become an OFAC Listed Person or have any investments in or engage in any other material transactions with any Person known to the Borrower to be a Blocked Person.
Sanctions Regulations. None of the Parent, the Obligor or any other Subsidiary shall, directly or indirectly, use the proceeds of the purchase of the Bonds, or lend, contribute or otherwise make available such proceeds to any Person (a) to fund or facilitate any activities of or with any Person in any country or territory that, at the time of such funding or facilitation, is the subject of Sanctions or (b) in any other manner that will result in a violation of Sanctions by any Person (including any Person participating in this Agreement).
Sanctions Regulations. The Borrower will not (a) become a Blocked Person or (b) have any investments in or engage in any dealings or transactions with any Blocked Person or in or relating to a Sanctioned Country if such investments, dealings or transactions would cause any Lender to be in violation of any laws or regulations that are applicable to such Lender.
Sanctions Regulations. Directly or indirectly use the proceeds of any Advance, or lend, contribute or otherwise make available such proceeds to any Affiliate, joint venture partner or other Person, (i) to fund or finance any activities or business of or with any Person, or in any country or territory, that, at the time of such funding or financing, is, or whose government is, the subject of Sanctions Regulations, or (ii) in any other manner that would result in a violation of Sanctions Regulations or AML Laws by any Person (including any Person participating in the Advances, whether as lender, underwriter, advisor, investor, or otherwise).
Sanctions Regulations. The HoldCo Borrower will not, and will not permit any of its Affiliated Entities to, become an OFAC Listed Person or have any investments in or engage in any other material transactions with any Person known to the HoldCo Borrower to be a Blocked Person.
Sanctions Regulations. Customer will comply with all applicable sanctions regulations of the United States, the European Union, the United Nations, the United Kingdom, and all other jurisdictions. Customer shall not and shall not allow any third-party to sell or perform any services from the United States, or allow the export or re-export of any part of the proprietary software or any direct product thereof to any individual or entity (“Person”) that is: (a) listed on, or owned or controlled by a Person listed on, or acting on behalf of a Person listed on, the List of Specially Designated Nationals and Blocked Persons (“SDN List”) maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) or any similar list maintained by, or public announcement of sanctions designation made by, the United States Department of State or any other U.S. government entity, the European Union and its member States, the United Nations Security Council, any United Nations Security Council Sanctions Committee, or His Majesty’s Treasury of the United Kingdom (each a “Sanctions List”); (b) located in, incorporated under the laws of, or acting on behalf of a person located in or organized under the laws of, a country or territory which is itself the target of any country-wide or territory-wise sanctions laws (at the time of this Agreement, the Crimea, Donetsk, or Luhansk regions of Ukraine, Cuba, Iran, North Korea, and Syria) (each a “Sanctioned Jurisdiction”); (c) otherwise a target of the economic or financial sanctions or trade embargoes imposed, administered, or enforced from time to time by the (i) U.S. government, including but not limited to OFAC or the U.S. Department of State, (ii) the European Union and its member States, (iii) the United Nations Security Council, and (iv) His Majesty’s Treasury of the United Kingdom, collectively “Sanctions;” or (d) otherwise in violation of any Sanctions.