Corruption Law Clause Samples
The Corruption Law clause establishes that all parties involved in the agreement must comply with applicable anti-corruption and anti-bribery laws. In practice, this means that neither party may offer, give, solicit, or accept any improper payments or advantages in connection with the contract, and may require parties to implement internal controls or reporting mechanisms to ensure compliance. The core function of this clause is to prevent illegal or unethical conduct, protect the parties from legal liability, and uphold the integrity of the contractual relationship.
Corruption Law. Certain individuals who hold public office in Russia, as well as their spouses and dependent children are prohibited from opening or maintaining foreign brokerage or bank accounts and holding any securities in a foreign company (including Shares acquired under the Plan). The Participant is strongly advised to consult with his or her personal legal advisor to determine whether this law applies to the Participant.
Corruption Law. Since the Company’s formation, no Company Representative has received any notice, request, or citation for any actual or potential noncompliance with any of the foregoing in this Section 4.10(b). No officer, director, or employee of the Company or any Subsidiary is a Public Official. No Public Official or Governmental Authority presently owns an interest, whether direct or indirect, in the Company or has any legal or beneficial interest in the Company or to payments made to the Company by Buyer hereunder. The Company has maintained complete and accurate books and records of payments to any agents, consultants, representatives, third parties and Public Officials in accordance with GAAP. No Company Representative is currently a Sanctioned Person or Sanctioned Entity or is located, organized or resident in a country or territory that is subject to, or the target of, Sanctions. At no time since the Company’s formation has the Company or any Company Representative engaged directly or, to the Company’s Knowledge, indirectly in any dealings or transactions with any Sanctioned Person or Sanctioned Entity, or in any country or territory that is subject to, or the target of, Sanctions, nor is the Company or any Company Representative currently engaged in any such activities.
Corruption Law. The Borrower has implemented and maintains in effect policies and procedures designed to ensure compliance by the Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws, and the Borrower, its Subsidiaries and their respective officers and employees and to the knowledge of the Borrower its directors and agents, are in compliance with Anti-Corruption Laws. None of the Loan Parties or their respective Subsidiaries, any of the directors or officers of the Loan Parties or their respective Subsidiaries or, to the knowledge of the Loan Parties, any of the employees of the Loan Parties or their respective Subsidiaries, has taken or will take any action, with respect to the business of the Loan Parties or their respective Subsidiaries, in furtherance of an offer, payment, promise to pay, or authorization or approval of the payment or giving of money, property, gifts or anything else of value, directly or indirectly, to any person while knowing that all or some portion of the money or value will be offered, given, or promised to anyone to improperly influence official action, to obtain or retain business or otherwise to secure any improper advantage, in each case in violation of any applicable Anti-Corruption Law.