No Sanction Sample Clauses
The No Sanction clause prohibits either party from being subject to penalties, sanctions, or punitive actions as a result of entering into or performing under the agreement. In practice, this means that neither party can be penalized by regulatory bodies or other authorities solely due to their participation in the contract, provided they are acting within the law. This clause serves to protect the parties from unforeseen legal or regulatory consequences, ensuring that the agreement itself does not expose them to additional risks of sanction.
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No Sanction. The Parties acknowledge and agree that governmental authorities, including the U.S. federal government, prohibit trade with certain sanctioned or blocked parties and publishes and maintains lists of Persons with whom trade is prohibited (each such governmental authority’s list, a “Sanctioned Party List”). Each Party represents and warrants that it (a) is not on any Sanctioned Party List maintained by any governmental authority, (b) has no reason to believe it shall be placed on any Sanctioned Party List, and (c) shall not deal with, conduct any business with or otherwise transact in any manner related to the rights and obligations contained in this Agreement with any Person on any global Sanctioned Party List.
No Sanction. The Service Provider represents and warrants that neither it nor any of its affiliated entities (if any), or Personnel or directors, is subject to any sanction or temporary suspension imposed by any United Nations System organization or other international or supranational organization. The Service Provider will immediately disclose to ICRC if this representation is no longer true during the Contract Term of the Services Agreement.
No Sanction. No Obligor nor any of its Subsidiaries or joint ventures, nor any of their respective directors, officers or employees nor, to the knowledge of that Obligor, any person acting on any of its behalf:
(a) is a Restricted Party; or
(b) has received notice of or is aware of any claim, action, suit, proceeding or investigation against it with respect to Sanctions by any Sanctions Authority.