Common use of USA Patriot Act Notice; OFAC and Bank Secrecy Act Clause in Contracts

USA Patriot Act Notice; OFAC and Bank Secrecy Act. The Facility Agent hereby notifies each of the Security Parties that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56, signed into law October 26, 2001) (the "PATRIOT Act"), and the policies and practices of the Facility Agent, each of the Creditors is required to obtain, verify and record certain information and documentation that identifies each of the Security Parties, which information includes the name and address of each of the Security Parties and such other information that will allow the Creditors to identify each of the Security Parties in accordance with the Patriot Act. In addition, each of the Security Parties shall: (a) ensure that no Person who owns a controlling interest in or otherwise controls any of the Security Parties or any subsidiary of any thereof is or shall be listed on the Specially Designated Nationals and Blocked Person List or other similar lists maintained by the Office of Foreign Assets Control ("OFAC"), the Department of the Treasury or included in any Executive Orders; (b) not use or permit the use of the proceeds of the Facility to violate any of the foreign asset control regulations of OFAC or any enabling statute or Executive Order relating thereto; and (c) comply, and cause any of its subsidiaries to comply, with all applicable Bank Secrecy Act laws and regulations, as amended.

Appears in 2 contracts

Samples: Credit Agreement (International Shipholding Corp), Account Pledge Agreement (International Shipholding Corp)

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USA Patriot Act Notice; OFAC and Bank Secrecy Act. The Facility Agent hereby notifies each of the Security Parties that pursuant to the requirements of the USA PATRIOT Patriot Act (Title III of Pub. L. 107-56, signed into law October 26, 2001) (the "PATRIOT “Patriot Act"), and the policies and practices of the Facility Agent, each of the Creditors is required to obtain, verify and record certain information and documentation that identifies each of the Security Parties, which information includes the name and address of each of the Security Parties and such other information that will allow the Creditors to identify each of the Security Parties in accordance with the Patriot Act. In addition, each of the Security Parties shall: (a) ensure that no Person who owns a controlling interest in or otherwise controls any of the Security Parties or any subsidiary of any thereof is or shall be listed on the Specially Designated Nationals and Blocked Person List or other similar lists maintained by the Office of Foreign Assets Control ("OFAC"), the Department of the Treasury or included in any Executive Orders; (b) not use or permit the use of the proceeds of the Facility to violate any of the foreign asset control regulations of OFAC or any enabling statute or Executive Order relating thereto; and (c) comply, and cause any of its subsidiaries to comply, with all applicable Bank Secrecy Act laws and regulations, as amended.

Appears in 2 contracts

Samples: Agreement (International Shipholding Corp), Senior Secured Term Loan Facility Agreement (International Shipholding Corp)

USA Patriot Act Notice; OFAC and Bank Secrecy Act. The Facility Agent hereby notifies each of the Security Parties Party that pursuant to the requirements of the USA PATRIOT Patriot Act (Title III of Pub. L. 107-56, signed into law October 26, 2001) (the "PATRIOT Act"), and the Agent’s policies and practices of practices, the Facility Agent, Agent and each of the Creditors Lenders is required to obtain, verify and record certain information and documentation that identifies each of the Security PartiesParty, which information includes the name and address of each of the Security Parties Party and such other information that will allow the Creditors Agent and the Lenders to identify each of the Security Parties Party in accordance with the Patriot Act. In addition, each of the Security Parties shall: Party shall (a) ensure that no Person who owns a controlling interest in or otherwise controls any of the Security Parties Party or any subsidiary of any thereof is or shall be listed on the Specially Designated Nationals and Blocked Person List or other similar lists maintained by the Office of Foreign Assets Control ("OFAC"), the Department of the Treasury or included in any Executive Orders; , (b) not use or permit the use of the proceeds of the Facility Loan to violate any of the foreign asset control regulations of OFAC or any enabling statute or Executive Order relating thereto; , and (c) comply, and cause any of its subsidiaries to comply, with all applicable Bank Secrecy Act laws and regulations, as amended.

Appears in 1 contract

Samples: Loan Agreement (B Plus H Ocean Carriers LTD)

USA Patriot Act Notice; OFAC and Bank Secrecy Act. The Facility Administrative Agent hereby notifies each of the Security Parties Borrower that pursuant to the requirements of the USA PATRIOT Patriot Act (Title III of Pub. L. 107-56, signed into law October 26, 2001) (the "PATRIOT “Patriot Act"), and the Administrative Agent’s policies and practices of practices, the Facility Agent, Administrative Agent and each of the Creditors Lenders is required to obtain, verify and record certain information and documentation that identifies each of the Security PartiesBorrower, which information includes the name and address of each of the Security Parties Borrower and such other information that will allow the Creditors Administrative Agent and the Lenders to identify each of the Security Parties Borrower in accordance with the Patriot Act. In addition, each of the Security Parties shall: Borrower shall (a) ensure that no Person who owns a controlling interest in or otherwise controls any of the Security Parties Borrower or any subsidiary of any thereof is or shall be listed on the Specially Designated Nationals and Blocked Person List or other similar lists maintained by the Office of Foreign Assets Control ("OFAC"), the Department of the Treasury or included in any Executive Orders; , (b) not use or permit the use of the proceeds of the Facility to violate any of the foreign asset control regulations of OFAC or any enabling statute or Executive Order relating thereto; , and (c) comply, and cause any of its subsidiaries to comply, with all applicable Bank Secrecy Act laws and regulations, as amended.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Seacor Holdings Inc /New/)

USA Patriot Act Notice; OFAC and Bank Secrecy Act. The Facility Agent hereby notifies each of the Security Parties that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56, signed into law October 26, 2001) (the "PATRIOT Act"), and the policies and practices of the Facility Agent, each of the Creditors is required to obtain, verify and record certain information and documentation that identifies each of the Security Parties, which information includes the name and address of each of the Security Parties and such other information that will allow the Creditors to identify each of the Security Parties in accordance with the Patriot Act. In addition, each of the Security Parties shall: (a) ensure that no Person who owns a controlling interest in or otherwise controls any of the Security Parties or any subsidiary of any thereof is or shall be listed on the Specially Designated Nationals and Blocked Person List or other similar lists maintained by the Office of Foreign Assets Control ("OFAC"), the Department of the Treasury or included in any Executive Orders; (b) not use or permit the use of the proceeds of the Facility to violate any of the foreign asset control regulations of OFAC or any enabling statute or Executive Order relating thereto; and (c) comply, and cause any of its subsidiaries to comply, with all applicable Bank Secrecy Act laws and regulations, as amended.

Appears in 1 contract

Samples: Agreement (International Shipholding Corp)

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USA Patriot Act Notice; OFAC and Bank Secrecy Act. The Facility Agent hereby notifies each of the Security Parties that pursuant to the requirements of the USA PATRIOT Patriot Act (Title III of Pub. L. 107-56, signed into law October 26, 2001) (the "PATRIOT Patriot Act"), and the policies and practices of the Facility Agent, each of the Creditors is required to obtain, verify and record certain information and documentation that identifies each of the Security Parties, which information includes the name and address of each of the Security Parties and such other information that will allow the Creditors to identify each of the Security Parties in accordance with the Patriot Act. In addition, each of the Security Parties shall: (a) ensure that no Person who owns a controlling interest in or otherwise controls any of the Security Parties or any subsidiary of any thereof is or shall be listed on the Specially Designated Nationals and Blocked Person List or other similar lists maintained by the Office of Foreign Assets Control ("OFAC"), the Department of the Treasury or included in any Executive Orders; (b) not use or permit the use of the proceeds of the Facility to violate any of the foreign asset control regulations of OFAC or any enabling statute or Executive Order relating thereto; and (c) comply, and cause any of its subsidiaries to comply, with all applicable Bank Secrecy Act laws and regulations, as amended.

Appears in 1 contract

Samples: Senior Secured Term Loan Facility Agreement (International Shipholding Corp)

USA Patriot Act Notice; OFAC and Bank Secrecy Act. The Facility Agent hereby notifies each of the Security Parties Borrower that pursuant to the requirements of the USA PATRIOT Patriot Act (Title III of Pub. L. 107-56, signed into law October 26, 2001) (the "PATRIOT Act"), and the Facility Agent’s policies and practices of practices, the Facility Agent, Agent and each of the Creditors Lenders is required to obtain, verify and record certain information and documentation that identifies each of the Security PartiesBorrower, which information includes the name and address of each of the Security Parties Borrower and such other information that will allow the Creditors Facility Agent and the Lenders to identify each of the Security Parties Borrower in accordance with the Patriot Act. In addition, each of the Security Parties shall: Borrower shall (a) ensure that no Person who owns a controlling interest in or otherwise controls any of the Security Parties Borrower or any subsidiary of any thereof is or shall be listed on the Specially Designated Nationals and Blocked Person List or other similar lists maintained by the Office of Foreign Assets Control ("OFAC"), the Department of the Treasury or included in any Executive Orders; , (b) not use or permit the use of the proceeds of the Facility to violate any of the foreign asset control regulations of OFAC or any enabling statute or Executive Order relating thereto; , and (c) comply, and cause any of its subsidiaries to comply, with all applicable Bank Secrecy Act laws and regulations, as amended.. [SIGNATURE PAGES TO FOLLOW]

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Seacor Holdings Inc /New/)

USA Patriot Act Notice; OFAC and Bank Secrecy Act. The Facility Administrative Agent hereby notifies the Borrower and each of the other Security Parties Party that pursuant to the requirements of the USA PATRIOT Patriot Act (Title III of Pub. L. 107-56, signed into law October 26, 2001) (the "PATRIOT Act"), and the Administrative Agent’s policies and practices of practices, the Facility Agent, Administrative Agent and each of the Creditors Lenders is required to obtain, verify and record certain information and documentation that identifies each of the Security PartiesParty, which information includes the name and address of each of the Security Parties Party and such other information that will allow the Creditors Administrative Agent and the Lenders to identify each of the Security Parties Party in accordance with the Patriot Act. In addition, each of the Security Parties shall: Party shall (a) ensure that no Person who owns a controlling interest in or otherwise controls any of the Security Parties Party or any subsidiary of any thereof is or shall be listed on the Specially Designated Nationals and Blocked Person List or other similar lists maintained by the Office of Foreign Assets Control ("OFAC"), the Department of the Treasury or included in any Executive Orders; , (b) not use or permit the use of the proceeds of the Facility Facilities to violate any of the foreign asset control regulations of OFAC or any enabling statute or Executive Order relating thereto; , and (c) comply, and cause any of its subsidiaries to comply, with all applicable Bank Secrecy Act laws and regulations, as amended.

Appears in 1 contract

Samples: Term Loan and Revolving Loan Credit Facility Agreement (Noble Corp / Switzerland)

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