Common use of U.S. Economic Sanctions Clause in Contracts

U.S. Economic Sanctions. Holdco and its Subsidiaries: (a) will comply with any U.S. Economic Sanction imposed by any rule, regulation or statute of the United States, including, without limitation, those administered by OFAC and any other applicable laws imposing economic sanctions, (b) will refrain from taking any action that would result in a violation by the Purchasers of U.S. Economic Sanctions, and (c) without limiting the generality of the foregoing, will not approve, facilitate, or fund, directly or indirectly, any business activities with, or for the benefit of, a government, national, resident or legal entity of any country with respect to which U.S. persons, as defined in U.S. Economic Sanctions, are prohibited by U.S. Economic Sanctions from doing business, except to the extent otherwise permitted by the relevant Governmental Authority, in each case, except as could not reasonably be expected to have a Material Adverse Effect.