Common use of Sanctions; Use of Proceeds Clause in Contracts

Sanctions; Use of Proceeds. a. The Parent will not, and will not permit any of its Subsidiaries to, directly or indirectly, use the proceeds of the Loans, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person to fund any activities or business of or with any Person (i) for the purpose of financing the activity of any person currently subject to Sanctions; (ii) for the benefit of any country currently subject to Sanctions; or (iii) for the benefit of any person in any country currently subject to Sanctions, in all cases, except to the extent permitted for a person required to comply with Sanctions.

Appears in 8 contracts

Samples: Loan and Guarantee Agreement, Loan and Guarantee Agreement, Loan and Guarantee Agreement

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