Common use of OFAC and Money Laundering Laws Clause in Contracts

OFAC and Money Laundering Laws. Each Credit Party and each of its Subsidiaries is in compliance, in all material respects, with all applicable law (a) administered and enforced in whole or in part by OFAC, or (b) otherwise relating to the enforcement of economic and trade sanctions based on the United States foreign policy and national security goals, including, but not limited to, the Trading with the Enemy Act and the International Emergency Economic Powers Act, in each case, as amended from time to time (collectively, “Sanctions”). No Credit Party nor any of its Subsidiaries (x) is a Sanctioned Person; (y) has its assets located in Sanctioned Persons; or (z) derives revenues from investments in or transactions with Sanctioned Persons. No proceeds of any Term Loan made hereunder will be used to fund any operations in, finance any investment or activities in, or make any payments to, a Sanctioned Person. To the extent applicable, each Credit Party is also in compliance, in all material respects, with all applicable law that may be enforced by any Governmental Authority relating to anti-money laundering statues, laws, regulations and rules, including, but not limited to the Bank Secrecy Act, as amended by the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act (together with their implementing regulations, in each case, as amended from time to time) (“Act”). No part of the proceeds of the Term Loans will be used, directly or indirectly, for the purposes of financing any activities or business of or with any Person or in any country or territory that is the subject of any Sanctions or for any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as amended, the Xxxxxxx Xxx 0000, as amended or other similar legislation in other jurisdictions.

OFAC and Money Laundering Laws. Each Credit Party and each of its Subsidiaries is and will remain in compliance, in all material respects, with all applicable law law, executive orders and implementing regulations (a) administered and enforced in whole or in part by OFAC, or (b) otherwise relating to the enforcement of economic and trade sanctions based on the United States foreign policy and national security goals, including, but not limited to, the Trading with the Enemy Act and the International Emergency Economic Powers Act, in each case, as amended from time to time (collectively, “Sanctions”). No Credit Party nor any of its Subsidiaries (x) is a Sanctioned Person; (y) has its assets located in Sanctioned Persons; or (z) derives revenues from investments in or transactions with Sanctioned Persons. No proceeds of any Term Loan made hereunder will be used by Borrower or any of its Affiliates to fund any operations in, finance any investment or activities in, or make any payments to, a Sanctioned Person. To the extent applicable, each Credit Party and each of its Subsidiaries also is also and will remain in compliance, in all material respects, with all applicable law that may be enforced by any Governmental Authority relating to anti-money laundering and counter-terrorism financing statues, laws, regulations and rules, including, but not limited to the Bank Secrecy Act, as amended by the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act (together with their implementing regulations, in each case, as amended from time to time) (the “Act”). No part of the proceeds of the Term Loans will be usedused by Borrower or any of its Affiliates, directly or indirectly, for the purposes of financing any activities or business of or with any Person or in any country or territory that is the subject of any Sanctions or for any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as amended, the Xxxxxxx Bxxxxxx Xxx 0000, as amended or other similar legislation in other jurisdictions.