Common use of Sanctioned Activities Clause in Contracts

Sanctioned Activities. (A) Neither the Selling Shareholder nor any of its respective officers, employees, directors, representatives, consultants or agents or any person acting on behalf of the Selling Shareholder does business with, invests in, sponsors, provides assistance or support to, or engages in any other transactions with, any Person of or located in any country, or with any other Person, targeted by (x) Sanctions Laws, or (y) any of the economic sanctions that may be adopted by resolution of the United Nations Security Council or imposed by the government authorities of other relevant countries or jurisdictions (together with the OFAC Sanctions, the “Sanctions”); (B) none of the Selling Shareholder or any of its subsidiaries or affiliates is owned or controlled (within the meaning of the regulations promulgating any Sanctions or the laws authorizing such promulgation) by any Person that is targeted by the Sanctions; and (C) the proceeds from the offering of the Offered Securities will not be used to fund any operations in, finance any investments or activities in or make any payments to, any country, or to fund, finance or make any payments to any Person, targeted by the Sanctions.

Sanctioned Activities. (A) Neither the such Selling Shareholder nor any of its respective officers, employees, directors, representatives, consultants or agents or any person acting on behalf of the such Selling Shareholder does business with, invests in, sponsors, provides assistance or support to, or engages in any other transactions with, any Person of or located in any country, or with any other Person, targeted by (xi) Sanctions Laws, or (yii) any of the economic sanctions that may be adopted by resolution of the United Nations Security Council or imposed by the government authorities of other relevant countries or jurisdictions (together with the OFAC Sanctions, the “Sanctions”); (B) none of the Selling Shareholder or any of its subsidiaries or affiliates is owned or controlled (within the meaning of the regulations promulgating any Sanctions or the laws authorizing such promulgation) by any Person that is targeted by the Sanctions; and (C) the proceeds from the offering of the Offered Securities will not be used to fund any operations in, finance any investments or activities in or make any payments to, any country, or to fund, finance or make any payments to any Person, targeted by the Sanctions.