Common use of Embargoed Person Clause in Contracts

Embargoed Person. As of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Mortgage Borrower, Borrower, Principal, Operating Tenant and Guarantor constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (“Embargoed Person”) with the result that the investment in Mortgage Borrower, Borrower, Principal, or Guarantor, as applicable (whether directly or indirectly), is prohibited by law or the Loan made by the Lender is in violation of law; (b) no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrower, Borrower, Principal, or Guarantor, as applicable, with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Guarantor, as applicable (whether directly or indirectly), is prohibited by law or the Loan is in violation of law; and (c) to Borrower’s knowledge, none of the funds of Mortgage Borrower, Borrower, Principal, Operating Tenant or Guarantor, as applicable, have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Guarantor, as applicable (whether directly or indirectly), is prohibited by law or the Loan is in violation of law.

Embargoed Person. As To Borrower’s knowledge, as of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers transfers of interests permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Mortgage Borrower, Borrower, Principal, Operating Tenant and Borrower or Guarantor constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (“Embargoed Person”) with the result that the investment in Mortgage Borrower, Borrower, Principal, or Borrower and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan made by the Lender Lenders is in violation of lawApplicable Law (“Embargoed Person”); (b) no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrower, Borrower, Principal, Borrower or Guarantor, as applicable, with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Borrower and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan is in violation of lawApplicable Law; and (c) to Borrower’s knowledge, none of the funds of Mortgage Borrower, Borrower, Principal, Operating Tenant Borrower or Guarantor, as applicable, have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Borrower and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan is in violation of lawApplicable Law. With respect to parties owning direct or indirect interests in Guarantor, Administrative Agent and each Lender acknowledges that Borrower has relied exclusively on its U.S. broker-dealer network to implement the normal and customary investor screening practices mandated by Applicable Law and FINRA regulations in making the foregoing representation.

Embargoed Person. As of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers transfers of interests permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Mortgage Borrower, Borrower, Principal, Operating Tenant and Sponsor or Guarantor constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions country which is a sanctioned person, entity or country under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (including regulations administered by the Office of Foreign Assets Control (“Embargoed PersonOFAC”) of the U.S. Department of the Treasury and the Specially Designated Nationals List maintained by OFAC) with the result that the investment in Mortgage Borrower, Borrower, Principal, or Sponsor and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan made by the Lender Lenders is in violation of lawLegal Requirements (“Embargoed Person”); (b) unless expressly waived in writing by Agent, no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrower, Borrower, Principal, Sponsor or Guarantor, as applicable, with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Sponsor and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan is in violation of lawLegal Requirements; and (c) to the best knowledge of Borrower’s knowledge, none of the funds of Mortgage Borrower, Borrower, Principal, Operating Tenant Sponsor or Guarantor, as applicable, have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Sponsor and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan is in violation of lawLegal Requirements. Borrower covenants and agrees that in the event Borrower receives any written notice that Borrower, Sponsor or Guarantor (or any of their respective beneficial owners, affiliates or participants) or any Person that has an interest in the Property is designated as an Embargoed Person, Borrower shall immediately notify Agent in writing. At Agent’s option, it shall be an Event of Default hereunder if Borrower, Guarantor, Sponsor or any other party to the Loan affiliated with Borrower, Guarantor and/or Sponsor is designated as an Embargoed Person. The representations and covenants contained in this Section 3.1.40 shall not apply to (i) any Person that owns a direct or indirect interest in any Publicly Registered Restricted Party or Publicly Traded Restricted Party or (ii) any Non-Dividend Limited Partner.

Embargoed Person. As of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers transfers of interests permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Mortgage Borrower, Borrower, Principal, Operating Tenant and Sponsor or Guarantor constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions country which is a sanctioned person, entity or country under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (“Embargoed Person”including regulations administered by the Office of Foreign Assets Control ("OFAC") of the U.S. Department of the Treasury and the Specially Designated Nationals List maintained by OFAC) with the result that the investment in Mortgage Borrower, Borrower, Principal, or Sponsor and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan made by the Lender is in violation of lawLegal Requirements ("Embargoed Person"); (b) unless expressly waived in writing by Lender, no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrower, Borrower, Principal, Sponsor or Guarantor, as applicable, with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Sponsor and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan is in violation of lawLegal Requirements; and (c) to the best knowledge of Borrower’s knowledge, none of the funds of Mortgage Borrower, Borrower, Principal, Operating Tenant Sponsor or Guarantor, as applicable, have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Sponsor and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan is in violation of lawLegal Requirements. Borrower covenants and agrees that in the event Borrower receives any notice that Borrower, Sponsor or Guarantor (or any of their respective beneficial owners, affiliates or participants) or any Person that has an interest in the Property is designated as an Embargoed Person, Borrower shall immediately notify Lender in writing. At Lender's option, it shall be an Event of Default hereunder if Borrower, Guarantor, Sponsor or any other party to the Loan is designated as an Embargoed Person. Notwithstanding the foregoing, for so long as Whitestone REIT is a publicly traded real estate investment trust, the provisions of this Section 3 .1.41 shall not apply to the shareholders of Whitestone REIT and any violation of this Section 3.1.41 by any shareholder of Whitestone REIT shall not be a default under this Agreement. 3.1.42.

Embargoed Person. As To Borrower's knowledge, as of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers transfers of interests permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Mortgage Borrower, Borrower, Principal, Operating Tenant and Partnership or Guarantor constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions country which is a sanctioned person, entity or country under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (including regulations administered by the Office of Foreign Assets Control (“Embargoed PersonOFAC”) of the U.S. Department of the Treasury and the Specially Designated Nationals List maintained by OFAC) with the result that the investment in Mortgage Borrower, Borrower, Principal, or Operating Partnership and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan made by the Lender is in violation of lawApplicable Law (“Embargoed Person”); (b) unless expressly waived in writing by Lender, no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrower, Borrower, Principal, Operating Partnership or Guarantor, as applicable, with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Partnership and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan is in violation of lawApplicable Law; and (c) to the best knowledge of Borrower’s knowledge, none of the funds of Mortgage Borrower, Borrower, Principal, Operating Tenant Partnership or Guarantor, as applicable, have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Partnership and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan is in violation of lawApplicable Law. With respect to parties owning direct or indirect interests in Operating Partnership or Guarantor, Lender acknowledges that Borrower has relied exclusively on its U.S. broker-dealer network to implement the normal and customary investor screening practices mandated by applicable law and FINRA regulations in making the foregoing representation. Borrower covenants and agrees that in the event Borrower receives any notice that Borrower, Operating Partnership or Guarantor (or any of their respective beneficial owners, affiliates or participants) or any Person that has an interest in the Property is designated as an Embargoed Person, Borrower shall immediately notify Lender in writing. At Lender's option, it shall be an Event of Default hereunder if Borrower, Guarantor, Operating Partnership or any other party to the Loan (other than Lender, any Affiliate of Lender or any party acting on behalf of Lender) is designated as an Embargoed Person.

Embargoed Person. As of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Mortgage Borrower, Mortgage Borrower, Principal, Operating Tenant Indemnitor and Guarantor constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (“Embargoed Person”) with the result that the investment in Mortgage Borrower, Mortgage Borrower, Principal, Indemnitor or Guarantor, as applicable (whether directly or indirectly), is prohibited by law or the Loan made by the Lender is in violation of lawlaw (“Embargoed Person”); (b) no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrower, Mortgage Borrower, Principal, Indemnitor or Guarantor, as applicable, with the result that the investment in Mortgage Borrower, Mortgage Borrower, Principal, Operating Tenant Indemnitor or Guarantor, as applicable (whether directly or indirectly), is prohibited by law or the Loan is in violation of law; and (c) to Borrower’s knowledge, none of the funds of Mortgage Borrower, Mortgage Borrower, Principal, Operating Tenant Indemnitor or Guarantor, as applicable, have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, Mortgage Borrower, Principal, Operating Tenant Indemnitor or Guarantor, as applicable (whether directly or indirectly), is prohibited by law or the Loan is in violation of law.

Embargoed Person. As of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers transfers of interests permitted pursuant to the Loan Documents, (a) to Borrower’s knowledge, none of the funds or other assets of Mortgage Borrower, Borrower, Principal, Operating Tenant and Borrower or Guarantor constitute property of, or are beneficially owned, directly or or, to Borrower’s knowledge, indirectly, by any person, entity or government subject to trade restrictions under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder or the Common Foreign and Security Policy consolidated list of persons, groups and entities subject to EU financial sanctions, as the same may be updated from time to time (“Embargoed Person”such list being available on the internet at the following URL: xxxx://xx.xxxxxx.xx/external_relations/cfsp/sanctions/list/consol-list.htm) with the result that the investment in Mortgage Borrower, Borrower, Principal, Borrower or Guarantor, as applicable Guarantor (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan made by the Lender Lenders is in violation of lawLegal Requirements (“Embargoed Person”); (b) to Borrower’s knowledge, no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrower, Borrower, Principal, Borrower or Guarantor, as applicable, Guarantor with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant Borrower or Guarantor, as applicable Guarantor (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan is in violation of lawLegal Requirements; and (c) to BorrowerXxxxxxxx’s knowledge, none of the funds of Mortgage Borrower, Borrower, Principal, Operating Tenant Borrower or Guarantor, as applicable, Guarantor have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant Borrower or Guarantor, as applicable Guarantor (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan is in violation of law.Legal Requirements. For purposes hereof, the phrase “to Xxxxxxxx’s knowledge” as used in this Section shall mean the actual knowledge (and not implied, imputed or constructive) of Borrower with no duty of inquiry or investigation. 3.1.43

Embargoed Person. As of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Mortgage Borrowerany Key Entity, Borrower, Principal, Operating Tenant and Encumbered Property Subsidiary or Guarantor constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (“Embargoed Person”) with the result that the investment in Mortgage Borrower, Borrowerany Key Entity, Principal, Encumbered Property Subsidiary or Guarantor, as applicable (whether directly or indirectly), is prohibited by law or the Loan made by the Lender is in violation of lawlaw (“Embargoed Person”); (b) no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrowerany Key Entity, Borrower, Principal, Encumbered Property Subsidiary or GuarantorGuarantor or any Affiliate thereof, as applicable, with the result that the investment in Mortgage Borrowerany Key Entity, Borrower, Principal, Operating Tenant Encumbered Property Subsidiary or Guarantor, as applicable (whether directly or indirectly), is prohibited by law or the Loan is in violation of law; and (c) to Borrower’s knowledge, none of the funds of Mortgage Borrowerany Key Entity, Borrower, Principal, Operating Tenant Encumbered Property Subsidiary or Guarantor, as applicable, have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant any Key Entity or Guarantor, as applicable (whether directly or indirectly), is prohibited by law or the Loan is in violation of law.

Embargoed Person. As of the date hereof and at all times throughout the term of the Loan, including after giving effect With respect to any Transfers permitted pursuant to the Loan Documentseach Underlying Asset, (a) none of the funds or other assets of Mortgage BorrowerMortgagor, BorrowerMezzanine borrower, Principal, Operating Tenant Principal and Guarantor constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ ss.ss. 1701 et seq., The Trading Traxxxx with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (“Embargoed Person”) with the result that the investment in Mortgage BorrowerMortgagor, Borrower, Principal, Principal or Guarantor, as applicable (whether directly or indirectly), is prohibited by law or the Mortgage Loan or Underlying Asset made by the Lender is in violation of lawlaw ("Embargoed Person"); (b) no Embargoed Person has any interest of any nature whatsoever in Mortgage BorrowerMortgagor, BorrowerMezzanine borrower, Principal, Principal or Guarantor, as applicable, with the result that the investment in Mortgage BorrowerMortgagor, BorrowerMezzanine borrower, Principal, Operating Tenant Principal or Guarantor, as applicable (whether directly or indirectly), is prohibited by law or the Mortgage Loan or Underlying Asset is in violation of law; and (c) to Borrower’s knowledge, none of the funds of Mortgage BorrowerMortgagor, BorrowerMezzanine borrower, Principal, Operating Tenant Principal or Guarantor, as applicable, have been derived from any unlawful activity with the result that the investment in Mortgage BorrowerMortgagor, BorrowerMezzanine borrower, Principal, Operating Tenant Principal or Guarantor, as applicable (whether directly or indirectly), is prohibited by law or the Mortgage Loan or Underlying Asset is in violation of law.

Embargoed Person. As of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers transfers of interests permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Mortgage Borrower, Borrower, Principal, Operating Tenant and Sponsor or Guarantor constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions country which is a sanctioned person, entity or country under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (including regulations administered by the Office of Foreign Assets Control (“Embargoed PersonOFAC”) of the U.S. Department of the Treasury and the Specially Designated Nationals List maintained by OFAC) with the result that the investment in Mortgage Borrower, Borrower, Principal, or Sponsor and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan made by the Lender is in violation of lawApplicable Law (“Embargoed Person”); (b) unless expressly waived in writing by Lender, no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrower, Borrower, Principal, Sponsor or Guarantor, as applicable, with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Sponsor and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan is in violation of lawApplicable Law; and (c) to the best knowledge of Borrower’s knowledge, none of the funds of Mortgage Borrower, Borrower, Principal, Operating Tenant Sponsor or Guarantor, as applicable, have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Sponsor and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan is in violation of lawApplicable Law.Borrower covenants and agrees that in the event Borrower receives any notice that Borrower, Sponsor or Guarantor (or any of their respective beneficial owners, affiliates or participants) or any Person that has an interest in the Property is designated as an Embargoed Person, Borrower shall immediately notify Lender in writing. At Lender’s option, it shall be an Event of Default hereunder if Borrower, Guarantor, Sponsor or any other party to the Loan is designated as an Embargoed Person.

Embargoed Person. As of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers transfers of interests permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Mortgage Borrower, Borrower, Principal, Operating Tenant and Borrower or Guarantor constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder or the Common Foreign and Security Policy consolidated list of persons, groups and entities subject to EU financial sanctions, as the same may be updated from time to time (“Embargoed Person”such list being available on the internet at the following URL: xxxx://xx.xxxxxx.xx/external_relations/cfsp/sanctions/list/consol-list.htm) with the result that the investment in Mortgage Borrower, Borrower, Principal, Borrower or Guarantor, as applicable Guarantor (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan made by the Lender Lenders is in violation of lawLegal Requirements (“Embargoed Person”); (b) no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrower, Borrower, Principal, Borrower or Guarantor, as applicable, Guarantor with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant Borrower or Guarantor, as applicable Guarantor (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan is in violation of lawLegal Requirements; and (c) to Borrower’s knowledge, none of the funds of Mortgage Borrower, Borrower, Principal, Operating Tenant Borrower or Guarantor, as applicable, Guarantor have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant Borrower or Guarantor, as applicable Guarantor (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan is in violation of lawLegal Requirements.

Embargoed Person. As of the date hereof and at At all times throughout the term of the Loan, including after giving effect to any Transfers permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Mortgage Borrower, Borrower, Principal, Operating Tenant and Guarantor Borrower constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions under U.S. law, including including, but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (“Embargoed Person”) with the result that the investment in Mortgage Borrower, Borrower, Principal, or Guarantor, as applicable Borrower (whether directly or indirectly), is prohibited by law or the Loan made by the Lender is in violation of lawlaw (“Embargoed Person”); (b) no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrower, Borrower, Principal, or Guarantor, as applicable, with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Guarantor, as applicable (whether directly or indirectly), is prohibited by law or the Loan is in violation of law; and (c) to Borrower’s knowledge, none of the funds of Mortgage Borrower, Borrower, Principal, Operating Tenant or Guarantor, as applicable, Borrower have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Guarantor, as applicable Borrower (whether directly or indirectly), is prohibited by law or the Loan is in violation of law. Bxxxxxxx agrees that all of the representations and warranties of Borrower set forth herein and elsewhere in this Promissory Note and in the other Loan Documents shall survive for so long as any amount remains owing to Lender under this Promissory Note or any of the other Loan Documents by Borrower. All representations, warranties, covenants and agreements made in this Promissory Note or in the other Loan Documents by Borrower shall be deemed to have been relied upon by Lender notwithstanding any investigation heretofore or hereafter made by Lender or on its behalf.

Embargoed Person. As of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers transfers of interests permitted pursuant -33- to the Loan Documents, (a) none of the funds or other assets of Mortgage Borrower, Borrower, Principal, Operating Tenant and either Borrower or Guarantor constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions country which is a sanctioned person, entity or country under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (including regulations administered by the Office of Foreign Assets Control (“Embargoed PersonOFAC”) of the U.S. Department of the Treasury and the Specially Designated Nationals List maintained by OFAC) with the result that the investment in Mortgage Borrower, Borrower, Principal, or either Borrower and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan made by the Lender is in violation of lawApplicable Law (“Embargoed Person”); (b) unless expressly waived in writing by Lender, no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrower, Borrower, Principal, either Borrower or Guarantor, as applicable, with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or either Borrower and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan is in violation of lawApplicable Law; and (c) to the best knowledge of each Borrower’s knowledge, none of the funds of Mortgage Borrower, Borrower, Principal, Operating Tenant either Borrower or Guarantor, as applicable, have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or either Borrower and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan is in violation of lawApplicable Law. Borrowers covenant and agree that in the event either Borrower receives any notice that either Borrower or Guarantor (or any of their respective beneficial owners, affiliates or participants) or any Person that has an interest in the Property is designated as an Embargoed Person, Borrowers shall immediately notify Lender in writing. At Lender’s option, it shall be an Event of Default hereunder if either Borrower, Guarantor or any other party to the Loan is designated as an Embargoed Person.

Embargoed Person. As To Borrower’s knowledge, as of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers transfers of interests permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Mortgage Borrower, Borrower, Principal, Operating Tenant and Partnership or Guarantor constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions country which is a sanctioned person, entity or country under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (including regulations administered by the Office of Foreign Assets Control (“Embargoed PersonOFAC”) of the U.S. Department of the Treasury and the Specially Designated Nationals List maintained by OFAC) with the result that the investment in Mortgage Borrower, Borrower, Principal, or Borrower and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan made by the Lender is in violation of lawApplicable Law (“Embargoed Person”); (b) unless expressly waived in writing by Lender, no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrower, Borrower, Principal, Operating Partnership or Guarantor, as applicable, with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Partnership and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan is in violation of lawApplicable Law; and (c) to the best knowledge of Borrower’s knowledge, none of the funds of Mortgage Borrower, Borrower, Principal, Operating Tenant Partnership or Guarantor, as applicable, have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Partnership and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan is in violation of lawApplicable Law. With respect to parties owning direct or indirect interests in Operating Partnership or Guarantor, Lender acknowledges that Borrower has relied exclusively on its U.S. broker-dealer network to implement the normal and customary investor screening practices mandated by applicable law and FINRA regulations in making the foregoing representation. Borrower covenants and agrees that in the event Borrower receives any notice that Borrower, Operating Partnership or Guarantor (or any of their respective beneficial owners, affiliates or participants) or any Person that has an interest in the Property is designated as an Embargoed Person, Borrower shall immediately notify Lender in writing. At Lender’s option, it shall be an Event of Default hereunder if Borrower, Guarantor, Operating Partnership or any other party to the Loan (other than Lender, any Affiliate of Lender or any party acting on behalf of Lender) is designated as an Embargoed Person.

Embargoed Person. As of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers transfers of interests permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Mortgage Borrower, Borrower, Principal, Operating Tenant and or Guarantor constitute property of, or to Borrower’s knowledge are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions country which is a sanctioned person, entity or country under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (including regulations administered by the Office of Foreign Assets Control (“Embargoed PersonOFAC”) of the U.S. Department of the Treasury and the Specially Designated Nationals List maintained by OFAC) with the result that the investment in Mortgage Borrower, Borrower, Principal, or Operating Tenant and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan made by the Lender is in violation of lawApplicable Law (“Embargoed Person”); (b) unless expressly waived in writing by Lender, no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrower, Borrower, Principal, Operating Tenant or Guarantor, as applicable, with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan is in violation of lawApplicable Law; and (c) to the best knowledge of Borrower’s knowledge, none of the funds of Mortgage Borrower, Borrower, Principal, Operating Tenant or Guarantor, as applicable, have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan is in violation of lawApplicable Law. Borrower covenants and agrees that in the event Borrower receives any notice that Borrower, Sponsor or Guarantor (or any of their respective beneficial owners, affiliates or participants) or any Person that has an interest in the Property is designated as an Embargoed Person, Borrower shall immediately notify Lender in writing. At Lender’s option, it shall be an Event of Default hereunder if Borrower, Operating Tenant, Guarantor or any other party to the Loan is designated as an Embargoed Person.

Embargoed Person. As of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers transfers of interests permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Mortgage Borrower, BorrowerOperating Lessee, Principal, Operating Tenant and Sponsor or Guarantor constitute property of, or are beneficially owned, directly or or, to Borrower’s knowledge, indirectly, by any person, entity or government subject to trade restrictions country which is a sanctioned person, entity or country under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (including regulations administered by the Office of Foreign Assets Control (“Embargoed PersonOFAC”) of the U.S. Department of the Treasury and the Specially Designated Nationals List maintained by OFAC) with the result that the investment in Mortgage Borrower, Borrower, Principal, or Sponsor and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan made by the Lender is in violation of lawLegal Requirements (“Embargoed Person”); (b) unless expressly waived in writing by Lender, no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrower, BorrowerOperating Lessee, Principal, Sponsor or Guarantor, as applicable, with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Sponsor and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan is in violation of lawLegal Requirements; and (c) to Borrower’s knowledge, none of the funds of Mortgage Borrower, BorrowerOperating Lessee, Principal, Operating Tenant Sponsor or Guarantor, as applicable, have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, BorrowerOperating Lessee, Principal, Operating Tenant or Sponsor and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan is in violation of lawLegal Requirements. Borrower and Operating Lessee covenant and agree that in the event Borrower or Operating Lessee receives any written notice that Borrower, Operating Lessee, Sponsor or Guarantor (or any of their respective beneficial owners, affiliates or participants) or any Person that has an interest in the Property is designated as an Embargoed Person, Borrower shall immediately notify Lender in writing. At Lender’s option, it shall be an Event of Default hereunder if Borrower, Operating Lessee, Guarantor, Sponsor or any other party to the Loan is designated as an Embargoed Person. The representations and covenants contained in this Section 3.1.41 shall not apply to the owners of any publicly traded equity securities.

Embargoed Person. As of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers permitted pursuant to the Loan Documents, Cause or permit (a) none any of the funds or other assets properties of Mortgage Borrower, Borrower, Principal, Operating Tenant and Guarantor the Companies that are used to repay the Credit Extensions (including Credit Extensions using the Incremental Revolving Commitments) to constitute property of, or are be beneficially owned, owned directly or indirectlyindirectly by, by any person, entity or government person subject to sanctions or trade restrictions under U.S. law, United States law (“Embargoed Person” or “Embargoed Persons”) that is identified on (1) the “List of Specially Designated Nationals and Blocked Persons” maintained by OFAC and/or on any other similar list maintained by OFAC pursuant to any authorizing statute including but not limited to, the International Emergency Economic Powers Act, as amended, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, as amended, 50 U.S.C. App. 1 et seq., and any Executive Orders Order or regulations regulation promulgated thereunder (“Embargoed Person”) with the result that the investment in Mortgage Borrower, Borrower, Principal, or Guarantor, as applicable (whether directly or indirectly), is prohibited by law or the Loan made by the Lender is in violation of law; (b) no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrower, Borrower, Principal, or Guarantor, as applicablethereunder, with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Guarantor, as applicable the Companies (whether directly or indirectly), ) is prohibited by law applicable Legal Requirements, or the Loan is Credit Extensions (including Credit Extensions using the Incremental Revolving Commitments) made by the Lenders, the Issuing Bank and the Guarantee Bank would be in violation of law; and Legal Requirements, or (c2) the Executive Order, any related enabling legislation or any other similar executive orders, or (b) any Embargoed Person to Borrower’s knowledgehave any direct or indirect interest, none of any nature whatsoever in the funds of Mortgage BorrowerCompanies, Borrower, Principal, Operating Tenant or Guarantor, as applicable, have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Guarantor, as applicable the Companies (whether directly or indirectly), ) is prohibited by law applicable Legal Requirements or the Loan is Credit Extensions (including Credit Extensions using the Incremental Revolving Commitments) are in violation of lawapplicable Legal Requirements.

Embargoed Person. As of the date hereof and at At all times throughout the term of the Loan, including after giving effect to any Transfers permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Borrower, Mortgage Borrower, Borrower, Mortgage Principal, Operating Tenant and Baltimore Owner or Guarantor shall constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government Person subject to trade restrictions under U.S. law, including including, but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (each such Person, an “Embargoed Person”) with the result that the investment in Borrower, Mortgage Borrower, Borrower, Mortgage Principal, Baltimore Owner or Guarantor, as applicable (whether directly or indirectly), is or would be prohibited by law or the Loan made by the Lender is or would be in violation of law; (b) no Embargoed Person has shall have any interest of any nature whatsoever in Borrower, Mortgage Borrower, Borrower, Mortgage Principal, Baltimore Owner or Guarantor, as applicable, with the result that the investment in Borrower, Mortgage Borrower, Borrower, Mortgage Principal, Operating Tenant Baltimore Owner or Guarantor, as applicable (whether directly or indirectly), is or would be prohibited by law or the Loan is or would be in violation of law; and (c) to Borrower’s knowledge, none of the funds of Borrower, Mortgage Borrower, Borrower, Mortgage Principal, Operating Tenant Baltimore Owner or Guarantor, as applicable, have been shall be derived from any unlawful activity with the result that the investment in Borrower, Mortgage Borrower, Borrower, Mortgage Principal, Operating Tenant Baltimore Owner or Guarantor, as applicable (whether directly or indirectly), is or would be prohibited by law or the Loan is or would be in violation of law.

Embargoed Person. As of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers transfers of interests permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Mortgage any Borrower, Borrower, Principal, Operating Tenant and Sponsor or Guarantor constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government country which is a sanctioned person, entity or country or is otherwise subject to any trade restrictions under U.S. lawlaw (including, without limitation, Cuba, Iran, North Korea, Syria and Crimea), including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (including regulations administered by the Office of Foreign Assets Control (“Embargoed PersonOFAC”) of the U.S. Department of the Treasury and the Specially Designated Nationals List maintained by OFAC) with the result that the investment in Mortgage such Borrower, Borrower, Principal, or Sponsor and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan made by the Lender is in violation of lawLegal Requirements (“Embargoed Person”); (b) unless expressly waived in writing by Lender, no Embargoed Person has any interest of any nature whatsoever in Mortgage any Borrower, Borrower, Principal, Sponsor or Guarantor, as applicable, with the result that the investment in Mortgage any Borrower, Borrower, Principal, Operating Tenant or Sponsor and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan is in violation of lawLegal Requirements; and (c) to the Knowledge of Borrower’s knowledge, none of the funds of Mortgage Borrower, Borrower, Principal, Operating Tenant Sponsor or Guarantor, as applicable, have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Sponsor and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan is in violation of lawLegal Requirements. Borrower covenants and agrees that in the event Borrower receives any notice that any Borrower, Sponsor or Guarantor (or any of their respective beneficial owners, affiliates or participants) or any Person that has an interest in any Property is designated as an Embargoed Person, Borrower shall promptly notify Lender in writing. The representations and warranties set forth in this Section 3.1.40 shall not apply to any shareholders or owners of stock or equity interest (directly or indirectly) in any Person which is publicly traded on a Recognized Exchange. At Lender’s option, it shall be an Event of Default hereunder if any Borrower, Guarantor or Sponsor is designated as an Embargoed Person.

Embargoed Person. As of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers transfers of interests permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Mortgage Borrower, Borrower, Principal, Operating Tenant and Borrower or Guarantor constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions country which is a sanctioned person, entity or country under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (including regulations administered by the Office of Foreign Assets Control (“Embargoed PersonOFAC”) of the U.S. Department of the Treasury and the Specially Designated Nationals List maintained by OFAC) with the result that the investment in Mortgage Borrower, Borrower, Principal, or Borrower and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan made by the Lender is in violation of lawApplicable Law (“Embargoed Person”); (b) unless expressly waived in writing by Lender, no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrower, Borrower, Principal, Borrower or Guarantor, as applicable, with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Borrower and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan is in violation of lawApplicable Law; and (c) to the best knowledge of Borrower’s knowledge, none of the funds of Mortgage Borrower, Borrower, Principal, Operating Tenant Borrower or Guarantor, as applicable, have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Borrower and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan is in violation of lawApplicable Law. Notwithstanding the foregoing, to the extent that an Embargoed Person acquires a non-controlling interest in IREIT, either (1) without the knowledge of Borrower or IREIT, through a transaction brokered by a FINRA licensed broker dealer not affiliated with IREIT, provided such broker dealer has executed a dealer agreement or selling agreement with IREIT or an affiliate of IREIT in which it covenants to, among other things, comply with The USA PATRIOT Act (or any successor legislation), or (2) without the knowledge of Borrower or IREIT, after the initial sale or offering of such interests in IREIT, the resulting breach of the foregoing representations shall be deemed to be unintentional and not willful or grossly negligent for purposes of 13.1(a)(ii) hereof. Borrower covenants and agrees that in the event Borrower receives any notice that Borrower or Guarantor (or any of their respective beneficial owners, affiliates or participants) or any Person that has an interest in the Property is designated as an Embargoed Person, Borrower shall immediately notify Lender in writing. At Lender’s option, it shall be an Event of Default hereunder if Borrower, Guarantor or any other party to the Loan is designated as an Embargoed Person.

Embargoed Person. As To Borrower’s knowledge, as of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers transfers of interests permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Mortgage Borrower, BorrowerOperating Partnership, Principal, Operating Tenant and Mortgage Borrower or Guarantor constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions country which is a sanctioned person, entity or country under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (including regulations administered by the Office of Foreign Assets Control (“Embargoed PersonOFAC”) of the U.S. Department of the Treasury and the Specially Designated Nationals List maintained by OFAC) with the result that the investment in Mortgage Borrower, Borrower, Principal, or Mortgage Borrower and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan made by the Lender is in violation of lawApplicable Law (“Embargoed Person”); (b) unless expressly waived in writing by Lender, no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrower, BorrowerOperating Partnership, Principal, Mortgage Borrower or Guarantor, as applicable, with the result that the investment in Mortgage Borrower, BorrowerOperating Partnership, Principal, Operating Tenant or Mortgage Borrower and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan is in violation of lawApplicable Law; and (c) to the best knowledge of Borrower’s knowledge, none of the funds of Mortgage Borrower, BorrowerOperating Partnership, Principal, Operating Tenant Mortgage Borrower or Guarantor, as applicable, have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, BorrowerOperating Partnership, Principal, Operating Tenant or Mortgage Borrower and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan is in violation of lawApplicable Law. With respect to parties owning direct or indirect interests in Operating Partnership or Guarantor, Lender acknowledges that Borrower has relied exclusively on its U.S. broker dealer network to implement the normal and customary investor screening practices mandated by applicable law and FINRA regulations in making the foregoing representation. Borrower covenants and agrees that in the event Borrower receives any notice that Borrower, Operating Partnership, Mortgage Borrower, or Guarantor (or any of their respective beneficial owners, affiliates or participants) or any Person that has an interest in the Property is designated as an Embargoed Person, Borrower shall immediately notify Lender in writing. At Lender’s option, it shall be an Event of Default hereunder if Borrower, Mortgage Borrower, Guarantor, Operating Partnership or any other party to the Loan (other than Lender, any Affiliate of Lender or any party acting on behalf of Lender) is designated as an Embargoed Person.

Embargoed Person. As of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers transfers of interests permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Mortgage Borrower, Borrower, Principal, Operating Tenant and Mortgage Borrower or Guarantor constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder or the Common Foreign and Security Policy consolidated list of persons, groups and entities subject to EU financial sanctions, as the same may be updated from time to time (“Embargoed Person”such list being available on the internet at the following URL: xxxx://xx.xxxxxx.xx/external_relations/cfsp/sanctions/list/consol-list.htm) with the result that the investment in Mortgage Borrower, Borrower, Principal, Mortgage Borrower or Guarantor, as applicable Guarantor (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan made by the Lender Lenders is in violation of lawLegal Requirements (“Embargoed Person”); (b) no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrower, Borrower, Principal, Mortgage Borrower or Guarantor, as applicable, Guarantor with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant Mortgage Borrower or Guarantor, as applicable Guarantor (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan is in violation of lawLegal Requirements; and (c) to Borrower’s knowledge, none of the funds of Mortgage Borrower, Borrower, Principal, Operating Tenant Mortgage Borrower or Guarantor, as applicable, Guarantor have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant Mortgage Borrower or Guarantor, as applicable Guarantor (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan is in violation of lawLegal Requirements.

Embargoed Person. As of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers transfers of interests permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Mortgage Borrower, Borrower, Principal, Operating Tenant and Guarantor Borrower or Guarantors constitute property of, or to Borrower’s knowledge, are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (“Embargoed Person”) with the result that the investment in Mortgage Borrower, Borrower, Principal, Borrower or Guarantor, as applicable Guarantors (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan made by the Lender is in violation of lawLegal Requirements (“Embargoed Person”); (b) to Borrower’s knowledge, no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrower, Borrower, Principal, Borrower or Guarantor, as applicable, Guarantors with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant Borrower or Guarantor, as applicable Guarantors (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan is in violation of lawLegal Requirements; and (c) to Borrower’s knowledge, none of the funds of Mortgage Borrower, Borrower, Principal, Operating Tenant Borrower or Guarantor, as applicable, Guarantors have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant Borrower or Guarantor, as applicable Guarantors (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan is in violation of lawLegal Requirements.

Embargoed Person. As of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers transfers of interests permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Mortgage Borrower, BorrowerOperating Lessee, Principal, Operating Tenant and Sponsor or Guarantor constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions country which is a sanctioned person, entity or country under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (including regulations administered by the Office of Foreign Assets Control (“Embargoed PersonOFAC”) of the U.S. Department of the Treasury and the Specially Designated Nationals List maintained by OFAC) with the result that the investment in Mortgage Borrower, Borrower, Principal, or Sponsor and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan made by the Lender is in violation of lawLegal Requirements (“Embargoed Person”); (b) unless expressly waived in writing by Lender, no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrower, BorrowerOperating Lessee, Principal, Sponsor or Guarantor, as applicable, with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Sponsor and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan is in violation of lawLegal Requirements; and (c) to the best knowledge of Borrower’s knowledge, none of the funds of Mortgage Borrower, BorrowerOperating Lessee, Principal, Operating Tenant Sponsor or Guarantor, as applicable, have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, BorrowerOperating Lessee, Principal, Operating Tenant or Sponsor and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan is in violation of lawLegal Requirements. Borrower and Operating Lessee covenant and agree that in the event Borrower or Operating Lessee receives any notice that Borrower, Operating Lessee, Sponsor or Guarantor (or any of their respective beneficial owners, affiliates or participants) or any Person that has an interest in the Property is designated as an Embargoed Person, Borrower shall immediately notify Lender in writing. At Lender’s option, it shall be an Event of Default hereunder if Borrower, Operating Lessee, Guarantor, Sponsor or any other party to the Loan is designated as an Embargoed Person.

Embargoed Person. As of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers transfers of interests permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Mortgage any Borrower, Borrower, Principal, Operating Tenant and Sponsor or Guarantor constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government country which is a sanctioned person, entity or country or is otherwise subject to any trade restrictions under U.S. lawlaw (including, without limitation, Cuba, Iran, North Korea, Syria and Crimea), including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (including regulations administered by the Office of Foreign Assets Control (“Embargoed PersonOFAC”) of the U.S. Department of the Treasury and the Specially Designated Nationals List maintained by OFAC) with the result that the investment in Mortgage such Borrower, Borrower, Principal, or Sponsor and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan made by the Lender is in violation of lawLegal Requirements (“Embargoed Person”); (b) unless expressly waived in writing by Lender, no Embargoed Person has any interest of any nature whatsoever in Mortgage any Borrower, Borrower, Principal, Sponsor or Guarantor, as applicable, with the result that the investment in Mortgage any Borrower, Borrower, Principal, Operating Tenant or Sponsor and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan is in violation of lawLegal Requirements; and (c) to Borrower’s knowledge, none of the funds of Mortgage Borrower, Borrower, Principal, Operating Tenant Sponsor or Guarantor, as applicable, have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Sponsor and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Legal Requirements or the Loan is in violation of lawLegal Requirements. Borrower covenants and agrees that in the event Borrower receives any notice that any Borrower, Sponsor or Guarantor (or any of their respective beneficial owners, affiliates or participants) or any Person that has an interest in any Property is designated as an Embargoed Person, Borrower shall promptly notify Lender in writing. The representations and warranties set forth in this Section 3.1.40 shall not apply to any shareholders or owners of stock or equity interest (directly or indirectly) in any Person which is publicly traded on a Recognized Exchange. At Lender’s option, it shall be an Event of Default hereunder if any Borrower, Guarantor or Sponsor is designated as an Embargoed Person.

Embargoed Person. As of the date hereof and at At all times throughout the term of the Loan, including after giving effect to any Transfers permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Mortgage Borrower, Borrower, Principal, Operating Tenant and Borrower or Guarantor shall constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government Person subject to trade restrictions under U.S. law, including including, but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (each such Person, an “Embargoed Person”) with the result that the investment in Mortgage Borrower, BorrowerXxxxxx Borrowers, Principal, Xxxxxx Cushion Entity or Guarantor, as applicable (whether directly or indirectly), is or would be prohibited by law or the Loan made by the Lender is or would be in violation of law; (b) no Embargoed Person has shall have any interest of any nature whatsoever in Mortgage Borrower, BorrowerXxxxxx Borrowers, Principal, Xxxxxx Cushion Entity Table of Contents or Guarantor, as applicable, with the result that the investment in Mortgage Borrower, BorrowerXxxxxx Borrowers, Principal, Operating Tenant Xxxxxx Cushion Entity or Guarantor, as applicable (whether directly or indirectly), is or would be prohibited by law or the Loan is or would be in violation of law; and (c) to Borrower’s knowledge, none of the funds of Mortgage Borrower, BorrowerXxxxxx Borrowers, Principal, Operating Tenant Xxxxxx Cushion Entity or Guarantor, as applicable, have been shall be derived from any unlawful activity with the result that the investment in Mortgage Borrower, BorrowerXxxxxx Borrowers, Principal, Operating Tenant Xxxxxx Cushion Entity or Guarantor, as applicable (whether directly or indirectly), is or would be prohibited by law or the Loan is or would be in violation of law.

Embargoed Person. As of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers transfers of interests permitted pursuant to the Loan Documents, (a) to the best of Borrower’s knowledge after due inquiry, none of the funds or other assets of Mortgage Borrower, BorrowerSponsor, Principal, Operating Tenant and Master Lessee or Guarantor constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions country which is a sanctioned person, entity or country under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (including regulations administered by the Office of Foreign Assets Control (“Embargoed PersonOFAC”) of the U.S. Department of the Treasury and the Specially Designated Nationals List maintained by OFAC) with the result that the investment in Mortgage Borrower, Borrower, Principal, or Master Lessee and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan made by the Lender is in violation of lawApplicable Law (“Embargoed Person”); (b) to the best of Borrower’s knowledge after due inquiry unless expressly waived in writing by Lender, no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrower, Borrower, Principal, Master Lessee or Guarantor, as applicable, with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Master Lessee and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan is in violation of lawApplicable Law; and (c) to the best knowledge of Borrower’s knowledge, none of the funds of Mortgage Borrower, BorrowerSponsor, Principal, Operating Tenant Master Lessee or Guarantor, as applicable, have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant or Master Lessee and/or Guarantor, as applicable (whether directly or indirectly), is prohibited by law Applicable Law or the Loan is in violation of lawApplicable Law. Notwithstanding the foregoing, to the extent that an Embargoed Person acquires a non-controlling interest in Guarantor, either (1) without the knowledge of Borrower, Sponsor, Master Lessee or Guarantor, through a transaction brokered by a FINRA licensed broker dealer not affiliated with Guarantor, provided such broker dealer has executed a dealer agreement or selling agreement with Guarantor or an affiliate of Guarantor (which may be the managing broker dealer for the Guarantor) in which it covenants to, among other things, comply with The USA PATRIOT Act (or any successor legislation), or (2) without the knowledge of Borrower, Sponsor, Master Lessee or Guarantor, after the initial sale or offering of such interests in Guarantor, the resulting breach of the foregoing representations shall be deemed to be unintentional and not willful or grossly negligent for purposes of Section 13.1(a) hereof. Borrower covenants and agrees that in the event Borrower receives any notice that Borrower, Sponsor, Master Lessee or Guarantor (or any of their respective beneficial owners, affiliates or participants) or any Person that has an interest in the Property is designated as an Embargoed Person, Borrower shall immediately notify Lender in writing. At Lender’s option, it shall be an Event of Default hereunder if Borrower, Guarantor, Master Lessee, or Sponsor is designated as an Embargoed Person.

Embargoed Person. As of the date hereof and at all times throughout the term of the Loan, including after giving effect to any Transfers transfers of interests permitted pursuant to the Loan Documents, (a) none of the funds or other assets of Mortgage Borrower, Borrower, Principal, Operating Tenant and Guarantor Borrower Principal or Affiliated Lessee constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (“Embargoed Person”) with the result that the investment in Mortgage Borrower, Borrower, Principal, Borrower Principal or GuarantorAffiliated Lessee, as applicable (whether directly or indirectly), is prohibited by law or the Loan made by the Lender is in violation of lawlaw (“Embargoed Person”); (b) no Embargoed Person has any interest of any nature whatsoever in Mortgage Borrower, Borrower, Principal, Borrower Principal or GuarantorAffiliated Lessee, as applicable, with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant Borrower Principal or GuarantorAffiliated Lessee, as applicable (whether directly or indirectly), is prohibited by law or the Loan is in violation of law; and (c) to Borrower’s knowledge, none of the funds of Mortgage Borrower, Borrower, Principal, Operating Tenant Borrower Principal or GuarantorAffiliated Lessee, as applicable, have been derived from any unlawful activity with the result that the investment in Mortgage Borrower, Borrower, Principal, Operating Tenant Borrower Principal or GuarantorAffiliated Lessee, as applicable (whether directly or indirectly), is prohibited by law or the Loan is in violation of law.