Anti-Corruption Laws; OFAC. Each Account Party will not request any Letter of Credit, and XL Group shall not use, and shall procure that its Subsidiaries and its or their respective directors, officers and employees shall not use, the proceeds of any Letter of Credit: (a) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws; or (b) for the purpose of financing any activities or business of or with any Sanctioned Person, or in any Sanctioned Country, that at the time of such financing is the subject of applicable Sanctions.
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Anti-Corruption Laws; OFAC. Each Account Party will not request any Borrowing or Letter of Credit, and XL Group shall not use, and shall procure that its Subsidiaries and its or their respective directors, officers and employees shall not use, the proceeds of any Borrowing or Letter of Credit:
(a) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws; or
(b) for the purpose of financing any activities or business of or with any Sanctioned Person, or in any Sanctioned Country, that at the time of such financing is the subject of applicable Sanctions.
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