Common use of Embargoed Person Clause in Contracts

Embargoed Person. 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 any Borrower, Operating Lessee or any Guarantor shall constitute property of, or shall be beneficially owned, directly or indirectly, by any Person subject to trade restrictions under United States 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, with the result that the investment in any Borrower, Operating Lessee or any Guarantor, as applicable (whether directly or indirectly), would be prohibited by law (each, an “Embargoed Person”), or the Loan made by Lender would be in violation of law, (b) no Embargoed Person shall have any interest of any nature whatsoever in any Borrower, Operating Lessee or any Guarantor, as applicable, with the result that the investment in any Borrower, Operating Lessee or any Guarantor, as applicable (whether directly or indirectly), would be prohibited by law or the Loan would be in violation of law, and (c) none of the funds of any Borrower, Operating Lessee or any Guarantor, as applicable, shall be derived from any unlawful activity with the result that the investment in any Borrower, Operating Lessee or any Guarantor, as applicable (whether directly or indirectly), would be prohibited by law or the Loan would be in violation of law.

Embargoed Person. At 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 any Borrower, Principal, Operating Lessee or any Tenant and Guarantor shall constitute property of, or shall be are beneficially owned, directly or indirectly, by any Person person, entity or government subject to trade restrictions under United States 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, thereunder (“Embargoed Person”) with the result that the investment in any Borrower, Operating Lessee Principal, or any Guarantor, as applicable (whether directly or indirectly), would be is prohibited by law (each, an “Embargoed Person”), or the Loan made by the Lender would be is in violation of law, ; (b) no Embargoed Person shall have has any interest of any nature whatsoever in any Borrower, Operating Lessee Principal, or any Guarantor, as applicable, with the result that the investment in any Borrower, Principal, Operating Lessee Tenant or any Guarantor, as applicable (whether directly or indirectly), would be is prohibited by law or the Loan would be is in violation of law, ; and (c) to Borrower’s knowledge, none of the funds of any Borrower, Principal, Operating Lessee Tenant or any Guarantor, as applicable, shall be have been derived from any unlawful activity with the result that the investment in any Borrower, Principal, Operating Lessee Tenant or any Guarantor, as applicable (whether directly or indirectly), would be is prohibited by law or the Loan would be is in violation of law.

Embargoed Person. At 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 any Borrower, Operating Lessee or any Principal, Indemnitor and Guarantor shall constitute property of, or shall be are beneficially owned, directly or indirectly, by any Person person, entity or government subject to trade restrictions under United States 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, thereunder with the result that the investment in any Borrower, Operating Lessee Principal, Indemnitor or any Guarantor, as applicable (whether directly or indirectly), would be is prohibited by law (each, an “Embargoed Person”), or the Loan made by Lender would be is in violation of law, law (“Embargoed Person”); (b) no Embargoed Person shall have has any interest of any nature whatsoever in any Borrower, Operating Lessee Principal, Indemnitor or any Guarantor, as applicable, with the result that the investment in any Borrower, Operating Lessee Principal, Indemnitor or any Guarantor, as applicable (whether directly or indirectly), would be is prohibited by law or the Loan would be is in violation of law, ; and (c) none of the funds of any Borrower, Operating Lessee Principal, Indemnitor or any Guarantor, as applicable, shall be have been derived from any unlawful activity with the result that the investment in any Borrower, Operating Lessee Principal, Indemnitor or any Guarantor, as applicable (whether directly or indirectly), would be is prohibited by law or the Loan would be is in violation of law.

Embargoed Person. (a) At all times times, throughout the term of the Loan, including after giving effect to any Transfers permitted pursuant to the Loan DocumentsTransfers, (ai) none of the funds or other assets of any Borrower, Operating Lessee Borrower or any Guarantor shall constitute property of, or shall be beneficially owned, directly or indirectly, by any Person subject to trade restrictions under United States 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., the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (PATRIOT Act) of 2001 and any Executive Orders or regulations promulgated thereunder, each as may be amended from time to time, with the result that the investment in any Borrower, Operating Lessee Key Principal or any Guarantor, as applicable (whether directly or indirectly), would be prohibited by law (each, an “Embargoed Person”), or the Loan made by Lender would be in violation of law, (bii) no Embargoed Person shall have any interest of any nature whatsoever in any Borrower, Operating Lessee Key Principal or any Guarantor, as applicable, with the result that the investment in any Borrower, Operating Lessee Key Principal or any Guarantor, as applicable (whether directly or indirectly), would be prohibited by law or the Loan would be in violation of law, and (ciii) none of the funds of any Borrower, Operating Lessee Key Principal or any Guarantor, as applicable, shall be derived from any unlawful activity with the result that the investment in any Borrower, Operating Lessee Key Principal or any Guarantor, as applicable (whether directly or indirectly), would be prohibited by law or the Loan would be in violation of law.

Embargoed Person. 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 any Borrowereither of the Borrowers, Operating Lessee either of the Principals or any Guarantor shall constitute property of, or shall be beneficially owned, directly or indirectly, by any Person subject to trade restrictions under United States law, including, but not limited to, including 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 thereunderunder any such United States laws, with the result that the investment in any Borrowereither of the Borrowers, Operating Lessee either of the Principals or any Guarantor, as applicable (whether directly or indirectly), is or would be prohibited by law (each, an “Embargoed Person”), ) or the Loan made by Lender is or would be in violation of law, (b) no Embargoed Person shall have any interest of any nature whatsoever in any Borrowereither of the Borrowers, Operating Lessee either of the Principals or any Guarantor, as applicable, with the result that the investment in any such Borrower, Operating Lessee Principal or any 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) none of the funds of any Borrowereither of the Borrowers, Operating Lessee either of the Principals or any Guarantor, as applicable, shall be derived from any unlawful activity with the result that the investment in any such Borrower, Operating Lessee Principal or any 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. Notwithstanding the above to the contrary, an Embargoed Person shall not include any shareholder of the REIT, so long as the REIT is publicly traded.

Embargoed Person. 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 any Borrower, Operating Lessee Principal or any Guarantor shall constitute property of, or shall be beneficially owned, directly or indirectly, by any Person subject to trade restrictions under United States 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 thereunderunder any such United States laws, with the result that the investment in any Mortgage Borrower, Operating Lessee Borrower, Principal or any Guarantor, as applicable (whether directly or indirectly), is or would be prohibited by law (each, an “Embargoed Person”), ) or the Loan made by Lender is or would be in violation of law, (b) no Embargoed Person shall have any interest of any nature whatsoever in any Mortgage Borrower, Operating Lessee Borrower, Principal or any Guarantor, as applicable, with the result that the investment in any Mortgage Borrower, Operating Lessee Borrower, Principal or any 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) none of the funds of any Mortgage Borrower, Operating Lessee Borrower, Principal or any Guarantor, as applicable, shall be derived from any unlawful activity with the result that the investment in any Mortgage Borrower, Operating Lessee Borrower, Principal or any 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. 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 any Borrower, Operating Lessee Borrowers or any Guarantor Borrower Principal shall constitute property of, or shall be beneficially owned, directly or indirectly, by any Person subject to trade restrictions under United States 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., the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Public Law 107-56) and any Executive Orders or regulations promulgated thereunderthereunder (including, without limitation, Executive Order No. 13224 on Terrorist Financing), with the result that the investment in any Borrower, Operating Lessee Borrowers or any GuarantorBorrower Principal, as applicable (whether directly or indirectly), would be prohibited by law (each, an “Embargoed Person”), or the Loan made by Lender would be in violation of law, (b) no Embargoed Person shall have any interest of any nature whatsoever in any Borrower, Operating Lessee Borrowers or any GuarantorBorrower Principal, as applicable, with the result that the investment in any Borrower, Operating Lessee Borrowers or any GuarantorBorrower Principal, as applicable (whether directly or indirectly), would be prohibited by law or the Loan would be in violation of law, and (c) none of the funds of any Borrower, Operating Lessee Borrowers or any GuarantorBorrower Principal, as applicable, shall be derived from any unlawful activity with the result that the investment in any Borrower, Operating Lessee Borrowers or any GuarantorBorrower Principal, as applicable (whether directly or indirectly), would be prohibited by law or the Loan would be in violation of law.

Embargoed Person. 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 any Borrower, Operating Lessee Borrower or any Guarantor Borrower Principal shall constitute property of, or shall be beneficially owned, directly or indirectly, by any Person subject to trade restrictions under United States 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., the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Public Law 107-56) and any Executive Orders or regulations promulgated thereunderthereunder (including, without limitation, Executive Order No. 13224 on Terrorist Financing), with the result that the investment in any Borrower, Operating Lessee Borrower or any GuarantorBorrower Principal, as applicable (whether directly or indirectly), would be prohibited by law (each, an “Embargoed Person”), or the Loan made by Lender would be in violation of law, (b) no Embargoed Person shall have any interest of any nature whatsoever in any Borrower, Operating Lessee Borrower or any GuarantorBorrower Principal, as applicable, with the result that the investment in any Borrower, Operating Lessee Borrower or any GuarantorBorrower Principal, as applicable (whether directly or indirectly), would be prohibited by law or the Loan would be in violation of law, and (c) none of the funds of any Borrower, Operating Lessee Borrower or any GuarantorBorrower Principal, as applicable, shall be derived from any unlawful activity with the result that the investment in any Borrower, Operating Lessee Borrower or any GuarantorBorrower Principal, as applicable (whether directly or indirectly), would be prohibited by law or the Loan would be in violation of law.

Embargoed Person. At all times throughout the term of the Loan, including after giving effect to any Transfers permitted pursuant to transfers of all or any portion of the Loan DocumentsProperty or any direct or indirect equity or beneficial interests in any SPE Party or any Guarantor that is not a natural person, (a) none of the funds or other assets of any Borrower, Operating Lessee SPE Party or any Guarantor shall constitute property of, or shall be beneficially owned, directly or indirectly, by any Person subject to trade restrictions under United States 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., the Patriot Act and any Executive Orders or regulations promulgated thereunder, each as may be amended from time to time, with the result that the investment in any BorrowerSPE Party, Operating Lessee Sponsor or any Guarantor, as applicable (whether directly or indirectly), would be prohibited by law (each, an “Embargoed Person”), or the Loan made by Lender would be in violation of law, (b) no Embargoed Person shall have any interest of any nature whatsoever in any BorrowerSPE Party, Operating Lessee Sponsor or any Guarantor, as applicable, with the result that the investment in any BorrowerSPE Party, Operating Lessee Sponsor or any Guarantor, as applicable (whether directly or indirectly), would be prohibited by law or the Loan would be in violation of law, and (c) none of the funds of any BorrowerSPE Party, Operating Lessee Sponsor or any Guarantor, as applicable, shall be derived from any unlawful activity with the result that the investment in any BorrowerSPE Party, Operating Lessee Sponsor or any Guarantor, as applicable (whether directly or indirectly), would be prohibited by law or the Loan would be in violation of law.

Embargoed Person. 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 any Borrower, Operating Lessee Principal or any Guarantor shall constitute property of, or shall be beneficially owned, directly or indirectly, by any Person subject to trade restrictions under United States 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 thereunderunder any such United States laws, with the result that the investment in any Borrower, Operating Lessee Principal or any Guarantor, as applicable (whether directly or indirectly), is or would be prohibited by law (each, an “Embargoed Person”), ) or the Loan made by Lender is or would be in violation of law, (b) no Embargoed Person shall have any interest of any nature whatsoever in any Borrower, Operating Lessee Principal or any Guarantor, as applicable, with the result that the investment in any Borrower, Operating Lessee Principal or any 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) none of the funds of any Borrower, Operating Lessee Principal or any Guarantor, as applicable, shall be derived from any unlawful activity with the result that the investment in any Borrower, Operating Lessee Principal or any 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. At all times times, throughout the term of the Loan, including after giving effect to any Transfers permitted permitted, pursuant to the Loan Documents, (a) none of the funds or other assets of any Borrower, Operating Lessee Borrower or any Guarantor shall constitute property of, or shall be beneficially owned, directly or indirectly, by any Person subject to trade restrictions under United States 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, with the result that the investment in any Borrower, Operating Lessee Borrower or any Guarantor, as applicable (whether directly or indirectly), would be prohibited by law (each, an “Embargoed Person”), or the Loan made by Lender would be in violation of law, (b) no Embargoed Person shall have any interest of any nature whatsoever in any Borrower, Operating Lessee Borrower or any Guarantor, as applicable, with the result that the investment in any Borrower, Operating Lessee Borrower or any Guarantor, as applicable (whether directly or indirectly), would be prohibited by law or the Loan would be in violation of law, and (c) none of the funds of any Borrower, Operating Lessee Borrower or any Guarantor, as applicable, shall be derived from any unlawful activity EAST\87098743.3 with the result that the investment in any Borrower, Operating Lessee Borrower or any Guarantor, as applicable (whether directly or indirectly), would be prohibited by law or the Loan would be in violation of law. With respect to parties owning indirect interests in Borrower, Lender acknowledges that Borrower has relied and will rely exclusively on its transfer agent and/or 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 representations and covenants. Furthermore, Borrower makes no representation, warranty or covenant under this Section 4.2.16 with respect to indirect owners of Borrower whose indirect ownership derives from ownership in publicly traded companies.

Embargoed Person. At all times throughout the term of the Loan, including after giving effect to any Transfers permitted pursuant to transfers of all or any portion of the Loan DocumentsProperty or any direct or indirect equity or beneficial interests in Borrower or any Guarantor that is not a natural person, (a) none of the funds or other assets of any Borrower, Operating Lessee Borrower or any Guarantor shall constitute property of, or shall be beneficially owned, directly or indirectly, by any Person subject to trade restrictions under United States 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., the Patriot Act and any Executive Orders or regulations promulgated thereunder, each as may be amended from time to time, with the result that the investment in any Borrower, Operating Lessee Sponsor or any Guarantor, as applicable (whether directly or indirectly), would be prohibited by law (each, an “Embargoed Person”), or the Loan made by Lender would be in violation of law, (b) no Embargoed Person shall have any interest of any nature whatsoever in any Borrower, Operating Lessee Sponsor or any Guarantor, as applicable, with the result that the investment in any Borrower, Operating Lessee Sponsor or any Guarantor, as applicable (whether directly or indirectly), would be prohibited by law or the Loan would be in violation of law, and (c) none of the funds of any Borrower, Operating Lessee Sponsor or any Guarantor, as applicable, shall be derived from any unlawful activity with the result that the investment in any Borrower, Operating Lessee Sponsor or any Guarantor, as applicable (whether directly or indirectly), would be prohibited by law or the Loan would be in violation of law.. Section 4.27

Embargoed Person. At all times throughout the term of the Loanthis Agreement, including after giving effect to any Transfers Conveyances permitted pursuant to the Loan Documents, (a) none of the funds or other assets of any Borrower, Operating Lessee Borrower or any Guarantor shall constitute property of, or shall be beneficially owned, directly or indirectly, by any Person subject to trade restrictions under United States 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 thereunderthereunder (exclusive of any holder of the publicly traded securities of Ashford REIT or any holder of any interest in Ashford OP other than the Subsidiaries of Ashford REIT, as to which Borrower makes no representation or warranty), with the result that the investment in any Borrower, Operating Lessee Borrower or any Guarantor, as applicable (whether directly or indirectly), would be prohibited by law (each, an “Embargoed Person”), or the Loan Loans made by Lender the Lenders would be in violation of law, (b) no Embargoed Person shall have any interest of any nature whatsoever in any Borrower, Operating Lessee Borrower or any Guarantor, as applicable, with the result that the investment in any Borrower, Operating Lessee Borrower or any Guarantor, as applicable (whether directly or indirectly), would be prohibited by law or the Loan Loans would be in violation of law, and (c) none of the funds of any Borrower, Operating Lessee Borrower or any Guarantor, as applicable, shall be derived from any unlawful activity with the result that the investment in any Borrower, Operating Lessee Borrower or any Guarantor, as applicable (whether directly or indirectly), would be prohibited by law or the Loan Loans would be in violation of law; provided that, in connection with the foregoing, Borrower makes no representation or warranty with respect to any holder of the publicly traded securities of Ashford REIT.

Embargoed Person. 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 any Borrower, Operating Lessee Borrower or any Guarantor either or both Guarantors shall constitute property of, or shall be beneficially owned, directly or indirectly, by any Person subject to trade restrictions under United States law, including, but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §§ Sections 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any 125 Executive Orders or regulations promulgated thereunder, with the result that the investment in any Borrower, Operating Lessee Borrower or any Guarantoreither or both Guarantors, as applicable (whether directly or indirectly), would be prohibited by law (each, an “Embargoed Person”"EMBARGOED PERSON"), or the Loan made by Lender would be in violation of law, (b) no Embargoed Person shall have any interest of any nature whatsoever in any Borrower, Operating Lessee Borrower or any Guarantoreither or both Guarantors, as applicable, with the result that the investment in any Borrower, Operating Lessee such Borrower or any Guarantoreither or both Guarantors, as applicable (whether directly or indirectly), would be prohibited by law or the Loan would be in violation of law, and (c) none of the funds of any Borrower, Operating Lessee Borrower or any Guarantoreither or both Guarantors, as applicable, shall be derived from any unlawful activity with the result that the investment in any Borrower, Operating Lessee such Borrower or any Guarantoreither or both Guarantors, as applicable (whether directly or indirectly), would be prohibited by law or the Loan would be in violation of law.

Embargoed Person. 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 any Borrower, Operating Lessee Baltimore Owner, Guarantor or any Guarantor Principal shall constitute property of, or shall be are beneficially owned, directly or indirectly, by any Person subject to trade restrictions under United States 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 thereunderthereunder (each such Person, an “Embargoed Person”) with the result that the investment in any Borrower, Operating Lessee Baltimore Owner, Principal or any Guarantor, as applicable (whether directly or indirectly), is or would be prohibited by law (each, an “Embargoed Person”), or the Loan made by the Lender is or would be in violation of law, ; (b) no Embargoed Person shall have any interest of any nature whatsoever in any Borrower, Operating Lessee Baltimore Owner, Guarantor or any GuarantorPrincipal, as applicable, with the result that the investment in any Borrower, Operating Lessee Baltimore Owner, Guarantor or any GuarantorPrincipal, 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) none of the funds of any Borrower, Operating Lessee Baltimore Owner, Guarantor or any GuarantorPrincipal, as applicable, shall be derived from any unlawful activity with the result that the investment in any Borrower, Operating Lessee Baltimore Owner, Guarantor or any GuarantorPrincipal, 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. (a) At all times times, throughout the term of the Loan, including after giving effect to any Transfers permitted permitted, pursuant to the Loan Documents, (a) none of the funds or other assets of any Borrower, Operating Lessee Borrower or any Guarantor shall constitute property of, or shall be beneficially owned, directly or indirectly, owned by any Person subject to trade restrictions under United States 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., the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (PATRIOT Act) of 2001 and any Executive Orders or regulations promulgated thereunder, each as may be amended from time to time, with the result that the investment in any Borrower, Operating Lessee Borrower or any Guarantor, as applicable (whether directly or indirectly)applicable, would be prohibited by law (each, an “Embargoed Person”), or the Loan made by Lender would be in violation of law, (b) no Embargoed Person shall have any interest of any nature whatsoever in any Borrower, Operating Lessee Borrower or any Guarantor, as applicable, with the result that the investment in any Borrower, Operating Lessee Borrower or any Guarantor, as applicable (whether directly or indirectly)applicable, would be prohibited by law or the Loan would be in violation of law, and (c) none of the funds of any Borrower, Operating Lessee Borrower or any Guarantor, as applicable, shall be derived from any unlawful activity with the result that the investment in any Borrower, Operating Lessee Borrower or any Guarantor, as applicable (whether directly or indirectly)applicable, would be prohibited by law or the Loan would be in violation of law.

Embargoed Person. 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 any Borrower, Principal or Operating Lessee or any Guarantor Tenant shall constitute property of, or shall be beneficially owned, directly or indirectly, by any Person subject to trade restrictions under United States law, including, but not limited to, law including 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 thereunderunder any such United States laws, with the result that the investment in any Borrower, Principal or Operating Lessee or any GuarantorTenant, as applicable (whether directly or indirectly), is or would be prohibited by law (each, an “Embargoed Person”), ) or the Loan made by Lender is or would be in violation of law, ; (b) no Embargoed Person shall have any interest of any nature whatsoever in any Borrower, Principal or Operating Lessee or any GuarantorTenant, as applicable, with the result that the investment in any Borrower, Principal, or Operating Lessee or any GuarantorTenant, 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) none of the funds of any Borrower, Principal, Operating Lessee Tenant or any Guarantor, as applicable, shall be derived from any unlawful activity by Borrower, Principal or Operating Tenant with the result that the investment in any Borrower, Principal or Operating Lessee or any GuarantorTenant, as applicable (whether directly or indirectly), is or would be prohibited by law or the Loan is or would be in violation of law.