OFAC definition

OFAC means the Office of Foreign Assets Control of the United States Department of the Treasury.

OFAC means the U.S. Department of the Treasury’s Office of Foreign Assets Control.

OFAC means the Office of Foreign Assets Control of the U.S. Department of Treasury.

Examples of OFAC in a sentence

• End User agrees not to export or re-export the Software to any parties located in Iran, Cuba, North Korea, Syria, Sudan or any other countries prohibited under U.S. and/or E.U. embargoes or sanctions programs maintained by the OFAC, the EU authorities or otherwise prohibited under the Export Control Laws.

• The Compliance Committee shall ensure that management corrects any deficiencies identified by the BSA/AML and OFAC Systems Resource Assessment and implements any plans or recommendations resulting from the BSA/AML and OFAC Systems Resource Assessment.

• The Company shall use the net proceeds from the sale of the Securities hereunder for working capital purposes and shall not use such proceeds: (a) for the satisfaction of any portion of the Company’s debt (other than payment of trade payables in the ordinary course of the Company’s business and prior practices), (b) for the redemption of any Common Stock or Common Stock Equivalents, (c) for the settlement of any outstanding litigation or (d) in violation of FCPA or OFAC regulations.

• Customer may not remove or export from the United States or allow the export or re-export of the Product or any related technology or materials in violation of any restrictions, laws, or regulations of the United States Department of Commerce, OFAC, or any other United States or foreign agency or authority.

• You agree that you will not ship, transfer or export the SDK into any country, or use the SDK in any manner, prohibited by the United States Bureau of Industry and Security or economic sanctions regulations administered by the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC), or any applicable export laws, restrictions or regulations.

More Definitions of OFAC

OFAC shall have the meaning ascribed to such term in Section 3.1(kk).

OFAC shall have the meaning provided in Section 3.25(b).

OFAC has the meaning set forth in Section 3.23.

OFAC is the U.S. Department of Treasury Office of Foreign Assets Control. “OFAC Lists” are, collectively, the Specially Designated Nationals and Blocked Persons List maintained by OFAC pursuant to Executive Order No. 13224, 66 Fed. Reg. 49079 (Sept. 25, 2001) and/or any other list of terrorists or other restricted Persons maintained pursuant to any of the rules and regulations of OFAC or pursuant to any other applicable Executive Orders.

OFAC has the meaning assigned to such term in Section 3.17(a).

OFAC is defined in Section 5.16(a).

OFAC the Office of Foreign Assets Control of the United States Department of the Treasury and any successor thereto.