Common use of Foreign Asset Control Laws Clause in Contracts

Foreign Asset Control Laws. (a) No Credit Party, nor, to the knowledge of any Credit Party, any director, officer, agent, employee or Affiliate: (i) is the subject of any Sanctions or (ii) is located, organized or resident in a country or territory that is itself the subject of any Sanctions; (b) no Borrower is using nor will use the proceeds of any Loan for the purpose of financing or making funds available directly or indirectly to any Sanctioned Person, to the extent such financing or provision of funds would be prohibited by Sanctions or would otherwise cause any person to be in breach of Sanctions; (c) no Borrower is contributing nor will any Borrower contribute or otherwise make available directly or indirectly the proceeds of any Loan to any other Person for the purpose of financing the activities of a Sanctioned Person, to the extent such contribution or provision of proceeds would be prohibited by Sanctions or would otherwise, to the knowledge and belief of any Credit Party, cause any person to be in breach of Sanctions; and (d) each Credit Party has not and will not do business, enter into transactions or store with, purchase or receive money from, transport from/to/with, sell goods or give money to, a Sanctioned Person.