OFAC Sanctions definition

OFAC Sanctions means any sanctions program administered by the Office of Foreign Assets Control of the United States Department of the Treasury (“OFAC”) under authority delegated to the Secretary of the Treasury (the “Secretary”) by the President of the United States or provided to the Secretary by statute, and any order or license issued by, or under authority delegated by, the President or provided to the Secretary by statute in connection with a sanctions program thus administered by OFAC. For ease of reference, and not by way of limitation, OFAC Sanctions programs are described on OFAC’s website at xxx.xxxxx.xxx/xxxx.
OFAC Sanctions has the meaning ascribed to it in Section 20.1(a) of Schedule V.
OFAC Sanctions has the meaning given to such term in Section 7.32.

Examples of OFAC Sanctions in a sentence

  • The export control compliance software performs restricted party screening against all relevant U.S. Government lists, including: OFAC Sanctions, BIS Denied Persons List, BIS Entity List and Unverified List, Department of State Arms Export Control Act Debarred Parties, Department of State Designated Terrorist Organizations, Department of State Nonproliferation Orders.

  • From this list, the subgroup prioritized, in the time remaining, the issues relating to OFAC Sanctions and to the Choice of Governing Law and Venue Clauses in Certain ICANN Contracts.

  • None of the Loan Parties, nor any of their agents acting in any capacity in connection with the Loans or other transactions hereunder (A) conducts any business or engages in making or receiving any contribution of funds, goods or services to or for the benefit of any Blocked Person, or (B) deals in, or otherwise engages in any transaction relating to, any property or interests in property blocked pursuant to any OFAC Sanctions Programs.

  • Each Loan Party will comply, and shall cause each of its Subsidiaries (excluding the Excluded Entities) to comply, with the requirements of all applicable laws, rules, regulations, and orders of any Governmental Authority, non-compliance with which could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, including, without limitation, Anti-corruption Laws, the PATRIOT Act, and OFAC Sanctions Programs.

  • The Borrower and/or its Significant Subsidiaries have implemented and maintain in effect policies and/or procedures designed to ensure compliance by the Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and to ensure compliance by the Borrower and its Subsidiaries and the respective officers and employees of the Borrower and its Subsidiaries with applicable OFAC Sanctions.

More Definitions of OFAC Sanctions

OFAC Sanctions means the country or list based economic and trade sanctions administered and enforced by OFAC.
OFAC Sanctions has the meaning ascribed to such term in Section 18.2(a) of Schedule 5.
OFAC Sanctions means the designation by OFAC of certain persons and certain companies into the SDN List.
OFAC Sanctions means any of the OFAC sanctions programs, laws, rules, and regulations of the Office of Foreign Assets Control of the United States Department of the Treasury (31 CFR, Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto.
OFAC Sanctions has the meaning set forth in Section 4.26(b).