Governmental Sanctions Sample Clauses

The Governmental Sanctions clause defines the parties' obligations and limitations in the event that government-imposed sanctions or restrictions affect the contract. Typically, this clause clarifies that neither party is required to perform actions that would violate applicable laws or sanctions, such as those imposed by the United States, European Union, or other relevant authorities. For example, if a party is prohibited from engaging in business with certain countries or entities due to sanctions, this clause would excuse non-performance related to those restrictions. Its core function is to protect the parties from legal liability and ensure compliance with international and domestic laws, thereby allocating risk associated with changing regulatory environments.
Governmental Sanctions. The Authorized Participant acknowledges and agrees on behalf of itself and any Authorized Participant Client that, if a deposit of bitcoin (as defined in the Procedures) made by the Authorized Participant, its Agent, or any Authorized Participant Client with the Prime Execution Agent (as defined in the Procedures) in connection with a Purchase Order includes any bitcoin which is subject to governmental sanctions applicable to bitcoin, including, without limitation, sanctions of The Office of Foreign Assets Control of the Department of Treasury of the United States applicable to bitcoin, the Prime Execution Agent will block or reject the applicable Purchase Order for the Shares and will take necessary steps to comply with applicable laws.
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Governmental Sanctions. The Authorized Participant acknowledges and agrees on behalf of itself and any Authorized Participant Client that, if a deposit of ether (as defined in the Procedures) made by the Authorized Participant, its Agent, or any Authorized Participant Client with the Prime Execution Agent (as defined in the Procedures) in connection with a Purchase Order includes any ether which is subject to governmental sanctions applicable to ether, including, without limitation, sanctions of The Office of Foreign Assets Control of the Department of Treasury of the United States applicable to ether, the Prime Execution Agent will block or reject the applicable Purchase Order for the Shares and will take necessary steps to comply with applicable laws.
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Governmental Sanctions. The Authorized Participant acknowledges and agrees that, if a deposit of Gold (as defined in the Procedures) made by the Authorized Participant with the Custodian (as defined in the Procedures) in connection with a Purchase Order includes any Gold which is subject to governmental sanctions applicable to brands of gold, including, without limitation, sanctions of The Office of Foreign Asset Control of the Department of Treasury of the United States applicable to brands of gold, the Custodian may reject the deposit of Gold. Upon written notification of such rejection by the Custodian to the Authorized Participant and its delivery agent, as applicable, and the Trustee and if agreed to by the Custodian, the Authorized Participant may replace the Gold subject to any such sanctions by depositing Gold with the Custodian not subject to any sanctions within twenty-four (24) hours of such notification. If the Authorized Participant does not so replace the Gold within such twenty-four (24) hour period, the Purchase Order corresponding with such deposit of Gold shall be deemed canceled
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Related to Governmental Sanctions

  • U.S. Sanctions The Transfer Agent represents and warrants that it has implemented policies, procedures and controls reasonably designed to detect and prevent any transaction involving an Account that is prohibited and to block assets involved in any transaction in, to, or from an Account that must be blocked under U.S. Sanctions. Consistent with the services provided by the Transfer Agent and with respect to the Accounts for which the Transfer Agent maintains the applicable shareholder information, which includes the registration for Accounts opened through NSCC/FundSERV, the Transfer Agent shall provide the services included in its policies and procedures designed to comply with U.S. Sanctions.

  • OFAC Sanctions None of Southwest, any Southwest Entity or any director or officer or, to the Knowledge of Southwest, any agent, employee, affiliate or other Person acting on behalf of any Southwest Entity (a) engaged in any services (including financial services), transfers of goods, software, or technology, or any other business activity related to (i) Cuba, Iran, North Korea, Sudan, Syria or the Crimea region of Ukraine claimed by Russia (“Sanctioned Countries”), (ii) the government of any Sanctioned Country, (iii) any person, entity or organization located in, resident in, formed under the laws of, or owned or controlled by the government of, any Sanctioned Country, or (iv) any Person made subject of any sanctions administered or enforced by the United States Government, including, without limitation, the list of Specially Designated Nationals (“SDN List”) of the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”), or by the United Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions authority (collectively, “Sanctions”), (b) engaged in any transfers of goods, technologies or services (including financial services) that may assist the governments of Sanctioned Countries or facilitate money laundering or other activities proscribed by United States Law, (c) is a Person currently the subject of any Sanctions or (d) is located, organized or resident in any Sanctioned Country.

  • No Sanctions The Board and the Association agree that the Association shall not invoke “sanctions” against an individual school during the term of this Agreement. Sanctions are defined, for the purpose of this section, as actions by an association which would deem it unethical or improper for any present or future teacher to accept or continue employment in a particular school. Meetings Regarding Professional Development

  • Economic Sanctions None of the Company, the Sponsor, any non-independent director or officer or, to the knowledge of the Company, any independent director or director nominee, agent or affiliate of the Company is currently subject to any sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”) or any similar sanctions imposed by any other body, governmental or other, to which any of such persons is subject (collectively, “other economic sanctions”); and the Company will not directly or indirectly use the proceeds of the Offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities of any person currently subject to any sanctions administered by OFAC or other economic sanctions.

  • OFAC; Sanctions; Anti-Corruption Laws; Anti-Money Laundering Laws No Loan Party or any of its Subsidiaries is in violation of any Sanctions. No Loan Party nor any of its Subsidiaries nor, to the knowledge of such Loan Party, any director, officer, employee, agent or Affiliate of such Loan Party or such Subsidiary (a) is a Sanctioned Person or a Sanctioned Entity, (b) has any assets located in Sanctioned Entities, or (c) derives revenues from investments in, or transactions with Sanctioned Persons or Sanctioned Entities. Each of the Loan Parties and its Subsidiaries has implemented and maintains in effect policies and procedures designed to ensure compliance with all Sanctions, Anti-Corruption Laws and Anti-Money Laundering Laws. Each of the Loan Parties and its Subsidiaries, and to the knowledge of each such Loan Party, each director, officer, employee, agent and Affiliate of each such Loan Party and each such Subsidiary, is in compliance with all Sanctions, Anti-Corruption Laws and Anti-Money Laundering Laws. No proceeds of any Loan made or Letter of Credit issued hereunder will be used to fund any operations in, finance any investments or activities in, or make any payments to, a Sanctioned Person or a Sanctioned Entity, or otherwise used in any manner that would result in a violation of any Sanction, Anti-Corruption Law or Anti-Money Laundering Law by any Person (including any Lender, Bank Product Provider, or other individual or entity participating in any transaction).