OFAC Event definition

OFAC Event means the event specified in Section 8.13(c) hereof.

OFAC Event means the event specified in Section 6.21(c).

OFAC Event means the event specified in Section 7.12(c) hereof.

Examples of OFAC Event in a sentence

• No prepayment of any Note shall be permitted pursuant to this Section 8.6 as a result of any OFAC Event if (a) a Prohibited Subsequent Action shall have occurred with respect to such OFAC Event pursuant to Section 10.4 and (b) the Notes shall have been declared due and payable pursuant to Section 12.1 as a result thereof.

• Promptly, and in any event within five Business Days, upon the Company’s receipt of notice from any Affected Noteholder that a Noteholder Sanctions Violation shall have occurred with respect to such Noteholder as a result of any OFAC Event, the Company shall forward a copy of such notice to each holder of Notes.

• Under no circumstances shall any Affected Noteholder who has rejected (or who has been deemed to have rejected) any such offer have any right to claim a Default or Event of Default relating to the OFAC Event relating to such offer.

• No prepayment of any Note shall be permitted pursuant to this Section 8.9 as a result of any OFAC Event if a Prohibited Subsequent Action shall have occurred with respect to such OFAC Event.

• A team of stringers and a lead stringer have been hired for this task with the ISU group taking the role of management and quality control.

More Definitions of OFAC Event

OFAC Event means the event specified in Section 5.1(m).

OFAC Event is defined in Section 10.9.

OFAC Event means the event specified in Section 6.13(c) hereof.

OFAC Event means the event specified in Section 8.21 of this Agreement.

OFAC Event means any amendment to, or change after the date of the Closing in, the laws or regulations of OFAC, or any amendment to or change after the date of the Closing in the official administration, interpretation or application of such laws or regulations.

OFAC Event means the event specified in Section 5.22 hereof.

OFAC Event means the event specified in Section 8.4(b) hereof. “OFAC Sanctions Programs” means all laws, regulations, and Executive Orders administered by OFAC, including without limitation, the Bank Secrecy Act, anti-money laundering laws (including, without limitation, the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub. L. 107-56 (a/k/a the USA Patriot Act)), and all economic and trade sanction programs administered by OFAC, any and all similar United States federal laws, regulations or Executive Orders, and any similar laws, regulators or orders adopted by any State within the United States. “OFAC SDN List” means the list of the Specially Designated Nationals and Blocked Persons maintained by OFAC. “PBGC” is defined in Section 6.12 hereof. “Permitted Discretion” means a determination made in good faith and in the exercise of commercially reasonable (from the perspective of a secured asset-based lender) business judgment. “Person” means an individual, partnership, corporation, limited liability company, association, trust, unincorporated organization or any other entity or organization, including a government or agency or political subdivision thereof. “Plan” means with respect to the Borrower and each Subsidiary at any time an employee pension benefit plan which is covered by Title IV of ERISA or subject to the minimum f unding standards under Section 412 of the Code and either (a) is maintained by a member of the Controlled Group for employees of a member of the Controlled Group, (b) is maintained