Common use of Violation of Sanction and Anti-Corruption Laws Clause in Contracts

Violation of Sanction and Anti-Corruption Laws. Notwithstanding anything to the contrary in Section 19.5, Starwood may terminate this Agreement if Starwood determines that Vistana has breached any representation, warranty or undertaking in this Section 21.3 or that any such breach is likely to occur unless this Agreement is terminated; provided, however, that to the extent permitted by Sanction and Anti-Corruption Laws, prior to terminating this Agreement, Starwood shall provide Vistana with thirty (30) days (or such shorter period, if any, before any such consequences may be imposed under the applicable Sanction and Anti-Corruption Laws) to restructure its ownership or take such other actions as may be necessary or desirable, subject to the other terms and conditions of this Agreement, to avoid or mitigate any potential violation. When requested by Starwood from time to time, Vistana shall certify to Starwood in writing the continuing accuracy of the covenants and representations in this Section 21.3.

Appears in 4 contracts

Samples: License, Services, and Development Agreement (Starwood Hotel & Resorts Worldwide, Inc), Matters Agreement (Starwood Hotel & Resorts Worldwide, Inc), Services and Development Agreement (Vistana Signature Experiences, Inc.)

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