Common use of Embargoed Persons Clause in Contracts

Embargoed Persons. At all times throughout the term of the Loan, including after giving effect to any Permitted Equity Transfers, (a) none of the funds or other assets of Borrower, Owner or Guarantors shall constitute property of, or 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 under any such United States laws, with the result that the investment in Borrower, Owner or Guarantors, as applicable (whether directly or indirectly), is or would be prohibited by law or the Loan made by Lender is in violation of law (each, an “Embargoed Person”); (b) no Embargoed Person shall have any interest of any nature whatsoever in Borrower, Owner or Guarantors, as applicable, with the result that the investment in Borrower, Owner or Guarantors, 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 Borrower, Owner or Guarantors, as applicable, have been or shall be derived from, or are the proceeds of, any unlawful activity, including money laundering, terrorism or terrorism activities, with the result that the investment in Borrower, Owner or Guarantors, as applicable (whether directly or indirectly), is or would be prohibited by law or the Loan is or would be in violation of law, or may cause the assets to be subject to forfeiture or seizure.

Embargoed Persons. At all times throughout the term of the Loan, including after giving effect to any Permitted Equity Transfers, (a) none of the funds or other assets of Borrower, Owner Assignor or Guarantors shall constitute property of, or 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 under any such United States laws, with the result that the investment in Borrower, Owner Assignor or Guarantors, as applicable (whether directly or indirectly), is or would be prohibited by law or the Loan made by Lender is in violation of law (each, an “Embargoed Person”); (b) no Embargoed Person shall have any interest of any nature whatsoever in Borrower, Owner Assignor or Guarantors, as applicable, with the result that the investment in Borrower, Owner Assignor or Guarantors, 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 Borrower, Owner Assignor or Guarantors, as applicable, have been or shall be derived from, or are the proceeds of, any unlawful activity, including money laundering, terrorism or terrorism activities, with the result that the investment in Borrower, Owner Assignor or Guarantors, as applicable (whether directly or indirectly), is or would be prohibited by law or the Loan is or would be in violation of law, or may cause the assets to be subject to forfeiture or seizure.