Blocked Party definition

Blocked Party means any party or nation that (i) is listed on the Specially Designated Nationals and Blocked Persons List maintained by the Office of Foreign Asset Control, Department of the U.S. Treasury (“OFAC”) pursuant to Executive Order No. 13224, 66 Fed. Reg. 49079 (Sept. 25, 2001) or other similar requirements contained in the rules and regulations of OFAC (the “Order”) or in any enabling legislation or other Executive Orders in respect thereof (the Order and such other rules, regulations, legislation, or orders are collectively called the “Orders”) or on any other list of terrorists or terrorist organizations maintained pursuant to any of the rules and regulations of OFAC or pursuant to any other applicable Orders (such lists are collectively referred to as the “Lists”); or (ii) has been determined by competent authority to be subject to the prohibitions contained in the Orders.
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Blocked Party means any party or nation that (a) is listed on the Specially Designated Nationals and Blocked Persons List maintained by the Office of Foreign Asset Control, Department of the U.S. Treasury (“OFAC”) pursuant to Executive Order No. 13224, 66 Fed. Reg. 49079 (Sept. 24, 2001) or other similar requirements contained in the rules and regulations of OFAC (the “Order”) or in any enabling legislation or other Executive Orders in respect thereof (the Order and such other rules, regulations, legislation or orders are collectively called the “Orders”) or on any other list of terrorists or terrorist organizations maintained pursuant to any of the rules and regulations of OFAC or pursuant to any other applicable Orders (such lists are collectively referred to as the “Lists”); or (b) has been determined by competent authority to be subject to the prohibitions contained in the Orders. Buyer agrees that the truthfulness of each of the foregoing representations and warranties is a condition precedent to the performance by Seller of its obligations under this Agreement, and that all of the same are for Seller’s sole benefit and reliance. Upon the breach of any of the representations and warranties set forth in this Section 9 by Buyer, Seller may terminate this Agreement whereupon the Deposit shall be disbursed to Seller and Seller shall be deemed to have waived all other rights and remedies that Seller may have by virtue of the breach of any such representation or warranty. This Section 9 shall survive the Closing for a period of six (6) months.
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Blocked Party shall have the meaning set forth in Section 5(c) hereof.
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Examples of Blocked Party in a sentence

  • Tenant hereby represents and warrants that Tenant and all Affiliated Parties (i) have never been a Blocked Party, and (ii) have been and are currently in full compliance with all Patriot Act Related Laws.

  • You agree to indemnify, defend and hold us harmless for any claim, loss or expense we suffer as a result of processing an Item to or from a Blocked Party.

  • In relation to its activities with or on behalf of US, You will not engage in any business or dealings, directly or indirectly, with any (i) Blocked Party; (ii) person or entity owned or controlled by, or acting on behalf of, any Block Party; or (iii) person or entity resident, located, or organized in a Restricted Country.

  • You acknowledge that if we receive an Item from you for credit to a Blocked Party, we are obligated to deduct the amount of the Item from your account, credit the Item to a Blocked Account and report the Item to the OFAC.

  • Tenant hereby represents and warrants that, to Tenant’s knowledge, Tenant and all Affiliated Parties (i) have never been a Blocked Party, and (ii) have been and are currently in full compliance with all Patriot Act Related Laws.

  • Tenant shall not: (a) transfer or permit the transfer of any interest in Tenant or any Tenant Owner to any Blocked Party; or (b) make a Transfer to any Blocked Party or party who is engaged in illegal activities.

  • Tenant shall not: (a) transfer or permit the transfer of any interest in Tenant or any Tenant Owner lo any Blocked Party: or (b) make a Transfer to any Blocked Party or party who is engaged in illegal activities.

  • If at any time during the Term (a) Tenant or any Tenant Owner becomes a Blocked Party or is convicted, pleads nolo contendere, or is indicted, arraigned, or custodially detained on charges involving money laundering or predicate crimes to money laundering; (b) any of the representations or warranties set forth in this Section become untrue: or (c) Tenant breaches any of the covenants set forth in this Section, the same shall constitute an Event of Default.

  • If at any time during the Term (a) Tenant or any Tenant Owner becomes a Blocked Party or is convicted, pleads nolo contendere, or is indicted, arraigned, or custodially detained on charges involving money laundering or predicate crimes to money laundering; (b) any of the representations or warranties set forth in this Section become untrue; or (c) Tenant breaches any of the covenants set forth in this Section, the same shall constitute an Event of Default.

  • Tenant hereby represents and warrants to the best of its knowledge that Tenant and all Affiliated Parties (i) have never been a Blocked Party, and (ii) have been and are currently in full compliance with all Patriot Act Related Laws.


More Definitions of Blocked Party

Blocked Party means any Person in which Sanctioned Persons, directly or indirectly, on their own or together with other Sanctioned Persons, own legally or beneficially an interest of at least 50%.
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Related to Blocked Party

  • Blocked Person is any Person: (a) listed in the annex to, or is otherwise subject to the provisions of, Executive Order No. 13224, (b) a Person owned or controlled by, or acting for or on behalf of, any Person that is listed in the annex to, or is otherwise subject to the provisions of, Executive Order No. 13224, (c) a Person with which any Lender is prohibited from dealing or otherwise engaging in any transaction by any Anti-Terrorism Law, (d) a Person that commits, threatens or conspires to commit or supports “terrorism” as defined in Executive Order No. 13224, or (e) a Person that is named a “specially designated national” or “blocked person” on the most current list published by OFAC or other similar list.

  • Specially Designated Nationals and Blocked Persons list maintained by the Office of Foreign Assets Control of the United States Department of the Treasury found at: xxxxx://xxx.xxxxxxxx.xxx/ofac/downloads/sdnlist.pdf;

  • SDN List means the Specially Designated Nationals and Blocked Persons List maintained by OFAC.

  • OFAC SDN List means the list of the Specially Designated Nationals and Blocked Persons maintained by OFAC.

  • OFAC means the U.S. Department of the Treasury’s Office of Foreign Assets Control.

  • National Road Traffic Act means the National Road Traffic Act, 1996 (Act 93 of 1996);

  • Foreign Asset Control Regulations has the meaning set forth in Section 10.18.

  • Administrative order means a written notice from the commissioners to the landowner or landowners of record and to the occupants of land informing them they are violating the district’s soil loss limit regulations or maintenance agreement and advising them of action required to conform to the regulations.

  • OFAC Sanctions means any sanctions program administered by the Office of Foreign Assets Control of the United States Department of the Treasury (“OFAC”) under authority delegated to the Secretary of the Treasury (the “Secretary”) by the President of the United States or provided to the Secretary by statute, and any order or license issued by, or under authority delegated by, the President or provided to the Secretary by statute in connection with a sanctions program thus administered by OFAC. For ease of reference, and not by way of limitation, OFAC Sanctions programs are described on OFAC’s website at xxx.xxxxx.xxx/xxxx.

  • Foreign Assets Control Regulations has the meaning set forth in Section 10.18.

  • OFAC Sanctions Programs means all laws, regulations, and Executive Orders administered by OFAC, including without limitation, the Bank Secrecy Act, anti-money laundering laws (including, without limitation, the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub. L. 107-56 (a/k/a the USA Patriot Act)), and all economic and trade sanction programs administered by OFAC, any and all similar United States federal laws, regulations or Executive Orders, and any similar laws, regulators or orders adopted by any State within the United States.

  • Protective order means any temporary or permanent court order prohibiting or limiting violence against, harassment of, contact or communication with, or physical proximity to another person.

  • U.S. Economic Sanctions is defined in Section 5.16(a).

  • Sanctions List means the “Specially Designated Nationals and Blocked Persons” list maintained by OFAC, the Consolidated List of Financial Sanctions Targets and the Investment Ban List maintained by HMT, or any similar list maintained by, or public announcement of Sanctions designation made by, any of the Sanctions Authorities.

  • Economic Sanctions refers to sanctions imposed by the U.S. government in response to Russia’s actions in Ukraine, as well as any sanctions imposed under state law. The EO directs state agencies to terminate contracts with, and to refrain from entering any new contracts with, individuals or entities that are determined to be a target of Economic Sanctions. Accordingly, should the State determine Contractor is a target of Economic Sanctions or is conducting prohibited transactions with sanctioned individuals or entities, that shall be grounds for termination of this agreement. The State shall provide Contractor advance written notice of such termination, allowing Contractor at least 30 calendar days to provide a written response. Termination shall be at the sole discretion of the State.

  • Foreign terrorist organization means an organization designated as a foreign terrorist organization by the United States secretary of state as authorized by 8 U.S.C. Section 1189.

  • OFAC Sanctions Program means any economic or trade sanction that OFAC is responsible for administering and enforcing. A list of OFAC Sanctions Programs may be found at xxxx://xxx.xxxxxxxx.xxx/resource-center/sanctions/Programs/Pages/Programs.aspx.

  • terrorist means any person who —

  • Corrective order means an order issued by the commissioner specifying corrective actions that the commissioner has determined are required.

  • State Sanctions List means a list that is adopted by any state Governmental Authority within the United States of America pertaining to Persons that engage in investment or other commercial activities in Iran or any other country that is a target of economic sanctions imposed under U.S. Economic Sanctions Laws.

  • Executive Order means Executive Order No. 13224 of September 23, 2001, entitled Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001)).

  • Embargoed Person shall have the meaning set forth in Section 4.1.35 hereof.

  • Sex trafficking means the recruitment, harboring, transportation, provision, or obtaining of a person for the purpose of a commercial sex act.

  • Foreign Assets means any of the Portfolios' investments (including foreign currencies) for which the primary market is outside the United States and such cash and cash equivalents as are reasonably necessary to effect the Portfolios' transactions in such investments.

  • nationals means: (i) all individuals possessing the nationality of a Contracting State; (ii) all legal persons, partnerships and associations deriving their status as such from the laws in force in a Contracting State;

  • terrorist financing means terrorist financing as defined in Article 1(5) of Directive (EU) 2015/849;