Common use of OFAC Check Clause in Contracts

OFAC Check. All Servicer employees performing services or supporting Servicer activities under this Agreement, regardless of their location, shall be validated by Servicer to not be on any list published and maintained by the United States government of Persons with whom any U.S. Person is prohibited from conducting business. Currently, the lists of such Persons can be found on the following web sites: (i) Denied Persons List on the Bureau of Industry and Security at ▇▇▇▇://▇▇▇.▇▇▇.▇▇▇.▇▇▇/dpl/Default.shtm. (ii) The Specially Designated Nationals and Blocked Persons List of the Office of Foreign Assets Control — Department of Treasury at ▇▇▇▇://▇▇▇.▇▇▇▇▇.▇▇▇/offices/enforcement/ofac/sdn/. (iii) Office of Foreign Assets Control — Recent OFAC Actions ▇▇▇▇://▇▇▇.▇▇▇▇▇.▇▇▇/offices/enforcement/ofac/actions/. (iv) Palestinian Legislative Council (PLC) List ▇▇▇▇://▇▇▇.▇▇▇▇▇.▇▇▇/offices/enforcement/ofac/programs/terror/ns/index.shtml. Servicer shall conduct periodic reviews, no less frequently than annually, of the lists mentioned above. Servicer shall report to Lender and Program Administrator immediately if the name of any Servicer employee performing the services matches with the name of any Person listed on any list published by the United States government of Persons with whom any U.S. Person is prohibited from doing business.