Common use of Sanctions Screening Clause in Contracts

Sanctions Screening. The Seller shall forthwith upon the execution of this Agreement by the parties direct in writing (such direction being in the Agreed Form) the CEO and the CFO of the Group to procure the provision to the Purchaser of the names and locations of clients of the Group who the Group are aware are clients with overseas operations, clients in sanctioned countries, clients with marine energy or aviation business and clients in such other classes of business which in the opinion of the Purchaser, acting reasonably, are high risk for the purposes of the Purchaser Group’s client and customer sanctions screening process. The Purchaser shall ensure that all such information is kept strictly confidential and is only used for the purposes of the screening process and for no other purpose whatsoever. The Purchaser agrees and acknowledges that if the CEO and the CFO do not comply with any such direction or in the event any customer or client does not pass its screening process, this shall not give rise to any liability on the part of the Seller (or any other person or entity) nor will it entitle the Purchaser to terminate this Agreement pursuant to clause 3.9 or otherwise.