Embargoes and sanctions. The Client represents as of the date of that Agreement and upon the provision of a Banking Service that it is not a Sanctioned Person or a party to any agreement or transaction with a Sanctioned Person and is not dealing with the goods or providing the services that are subject to the Sanctions. The Bank may refuse to provide any Banking Service or refuse any order or request of the Client if the Client becomes a Sanctioned Person or if the provision of the Banking Service or execution of an order or request of the Client would result in a breach of the Sanctions by the Bank or similar measure of the Bank or SG Group. In such a case, the Bank shall not be liable for the possible delay or non-provision of the Banking Service or non-execution of the order or request or for any damage caused by or in connection with the delay or non-provision of the Banking Service or non-execution of the order or request of the Client. In such a case, the Bank may also demand information and documents in relation to the Client's order or request; or terminate or rescind the Agreement. This shall be without prejudice to the obligation of the Client to pay any payment or perform any obligation owed to the Bank. The Bank may provide the authorities that are the relevant authorities in connection with the Sanctions with the requested information in accordance with the relevant laws.
Embargoes and sanctions. As at the date of executing the Contract and as at the moment of providing the Banking Service, the Client declares that he/she/it is not a Sanctioned Person or a party to any agreement or transaction with a Sanctioned Person and does not deal with goods or provide services that are subject to Sanctions. The Bank shall be entitled not to execute any Banking Service or any order or request by the Client if the Client becomes a Sanctioned Person or if the provision of a Banking Service or execution of a Client’s order or request may result in a breach of a Sanction by the Bank or of a similar measure imposed by the Bank or SG Financial Group. In such a case, the Bank shall not be responsible for any delay in or a failure to execute the Banking Service or the order or request. In that case, the Bank shall further be entitled to demand information and documents related to the Client’s order or request, or to terminate or cancel (withdraw from) the Contract and, in the case of transactions in financial markets, the Bank shall be authorized to execute the close-out netting pursuant to the applicable Contract (such events being considered Events of Default under the applicable Contract). The Client acknowledges that the Bank shall be entitled to disclose to the competent authorities any information requested. The Client shall not be exempted from his/her/its obligation to make any payment or pay any debt to the Bank if the Bank refuses to receive or accept a payment from the Sanctioned Person or a payment subject to Sanctions or a similar measures imposed by the Bank or by the SG Financial Group.