Sectoral Sanctions definition

Sectoral Sanctions means any Sanctions imposed by any Sanctions Authority that do not freeze or block the assets and/or economic resources of a designated person or comprehensively freeze or block making available funds or economic resources to such designated person, but merely restrict the ability of certain individuals or entities to access financing or export or import equipment, goods, technology or services, including, for the avoidance of doubt, the Sanctions imposed under the Sectoral Sanctions Identification List maintained by the Office of Foreign Assets Control of the US Department of Treasury;
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Sectoral Sanctions means restrictions focused on specific industries within a particular country or region. An example of where such sanctions currently apply is Russia.
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Sectoral Sanctions. MEANS SANCTIONS IMPOSED BY ANY SANCTIONS AUTHORITY WHICH DO NOT FREEZE THE ASSETS OF OR PROHIBIT THE PROVISION OF ANY FUNDS OR ECONOMIC RESOURCES TO A DESIGNATED PERSON, BUT MERELY RESTRICT THE ABILITY OF CERTAIN INDIVIDUALS OR ENTITIES TO ACCESS FINANCING OR EXPORT OR IMPORT GOODS, TECHNOLOGY, OR SERVICES. THE REPRESENTATION IN (K) ABOVE SHALL BE DEEMED NOT TO BE REQUIRED IF AND ONLY TO THE EXTENT THAT IT IS OR WOULD BE UNENFORCEABLE BY REASON OF BREACH OF ANY PROVISION OF COUNCIL REGULATION (EC) NO 2271/1996 OF 22 NOVEMBER 1996 (OR ANY LAW OR REGULATION IMPLEMENTING SUCH REGULATION IN ANY MEMBER STATE OF THE EUROPEAN UNION OR THE UNITED KINGDOM).
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Examples of Sectoral Sanctions in a sentence

  • Customer further understands that persons subject to U.S. sanctions or other prohibitions include, but are not limited to, individuals or entities identified on or in the U.S. Department of Commerce’s Denied Persons List, Unverified List, or Entity List; the U.S. Department of State’s Nonproliferation Sanctions determinations; or OFAC’s Specially Designated Nationals List, Foreign Sanctions Evaders List, or Sectoral Sanctions Identifications List.

  • Neither the Company nor any of its Subsidiaries is included on the Specially Designated Nationals and Blocked Persons List, the Foreign Sanctions Evaders List or the Sectoral Sanctions Identifications List maintained by OFAC or any publicly available Sanctions-related list of designated Persons maintained by the U.S. Department of Treasury or the U.S. Department of State or the European Union (collectively, the “Sanctions Lists”).

  • Neither the Company nor any of its Subsidiaries is included on the Specially Designated Nationals and Blocked Persons List, the Foreign Sanctions Evaders List or the Sectoral Sanctions Identifications List maintained by OFAC or any publicly available Sanctions-related list of designated Persons maintained by the U.S. Department of Treasury, His Majesty’s Treasury of the United Kingdom or the U.S. Department of State or the European Union (collectively, the “Sanctions Lists”).

  • Seller further agrees to determine whether it is, and represents that it is not, owned directly, indirectly, or in the aggregate fifty percent (50%) or more by Specially Designated Nationals (“SDN”) or parties designated on Sectoral Sanctions Identifications Lists (“SSI”) or Foreign Sanctions Evaders List ("FSE") under Executive Orders of the President of the United States or the regulations of OFAC.

  • Subject to credit approval, all balances must be payable net thirty (30) days or as otherwise provided for in the Quotation unless Customer is an entity listed in to the United States Office of Foreign Asset Control (“OFAC”) Sectoral Sanctions Index, in which case Section 13(b) of these Terms and Conditions shall supersede this section.

  • Service Provider further agrees to determine whether it is, and represents that it is not, owned directly, indirectly, or in the aggregate fifty percent (50%) or more by Specially Designated Nationals (“SDN”) or parties designated on Sectoral Sanctions Identifications Lists (“SSI”) or Foreign Sanctions Evaders List ("FSE") under Executive Orders of the President of the United States or the regulations of OFAC.

  • Such Trade Laws may prohibit transfer of the products to countries, entities, or persons including currently Cuba, Iran, Syria, Crimea and North Korea, and persons on the EAR Denied Parties or Entity lists or the OFAC Specially Designated Nationals and Blocked Persons or Foreign Sanctions Evaders or Sectoral Sanctions Identification lists, or for proliferation-related applications.

  • I have been informed on more than one occasion that the task of providing the six-month reports is akin to a significant unpleasant sensation in the posterior.

  • Sanctions List: the Sanctions-related lists of designated persons administered or maintained by OFAC (including the List of Specially Designated Nationals and Blocked Persons and the Sectoral Sanctions Identifications lists), the U.S. Department of State (including the Nonproliferation Sanctions List), His Majesty’s Treasury (including the Consolidated List of Financial Sanctions Targets), or any other Sanctions Authority, each as amended, supplemented, or substituted from time to time.

  • Felicitex and Selvita confirm that none of their key personnel or shareholders are on the Sectoral Sanctions Identification (SSI) List of U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) as of the date of the Agreement execution.


More Definitions of Sectoral Sanctions

Sectoral Sanctions means sanctions imposed by any sanctions authority which do not freeze the assets of or prohibit the provision of any funds or economic resources to a designated person, but merely restrict the ability of certain individuals or entities to access financing or export or import goods, technology, or services.
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Related to Sectoral Sanctions

  • 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 ▇▇▇.▇▇▇▇▇.▇▇▇/▇▇▇▇.

  • Economic Sanctions refers to sanctions imposed by the U.S. government in response to Russia’s actions in Ukraine, as well as any sanctions imposed under state law. The EO directs state agencies to terminate contracts with, and to refrain from entering any new contracts with, individuals or entities that are determined to be a target of Economic Sanctions. Accordingly, should the State determine Contractor is a target of Economic Sanctions or is conducting prohibited transactions with sanctioned individuals or entities, that shall be grounds for termination of this agreement. The State shall provide Contractor advance written notice of such termination, allowing Contractor at least 30 calendar days to provide a written response. Termination shall be at the sole discretion of the State.

  • 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.

  • U.S. Economic Sanctions is defined in Section 5.16(a).

  • OFAC Sanctions Program means any economic or trade sanction that OFAC is responsible for administering and enforcing. A list of OFAC Sanctions Programs may be found at ▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/resource-center/sanctions/Programs/Pages/Programs.aspx.