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 www.treas.gov/ofac.
OFAC Sanctions has the meaning ascribed to it in Section 20.1(a) of Schedule V.

Examples of OFAC Sanctions in a sentence

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.

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.

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.

Wille, “Anti-Money-Laundering and OFAC Sanctions Issues,” CFA Institute Conference Proceedings Quarterly, Vol.

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.

More Definitions of OFAC Sanctions

OFAC Sanctions has the meaning given to such term in Section 7.32.
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 shall have the meaning set forth in Section 4.8.