Anti-money laundering/international trade law compliance covenant
Anti-Money Laundering/International Trade Law Compliance Covenant Sample Clauses
Anti-Money Laundering/International Trade Law Compliance Covenant. The Guarantor covenants and agrees to all of the covenants and obligations contained in this Paragraph 25. No Covered Entity will become a Sanctioned Person. No Covered Entity, either in its own right or through any third party, will: (a) have any of its assets in a Sanctioned Country or in the possession, custody or control of a Sanctioned Person in violation of any Anti-Terrorism Law; (b) do business in or with, or derive any of its income from investments in or transactions with, any Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law; (c) engage in any dealings or transactions prohibited by any Anti-Terrorism Law or (d) use the Advances to fund any operations in, finance any investments or activities in, or, make any payments to, a Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law. The funds used to repay the Obligations will not be derived from any unlawful activity. Each Covered Entity shall comply with all Anti-Terrorism Laws. The Guarantor shall promptly notify the Lender in writing upon the occurrence of a Reportable Compliance Event.Any default, breach or violation of any covenant contained in this Paragraph 25 shall be an automatic Event of Default under the Loan Agreement (without any notice, grace or cure period).