Common use of Sanction Clause Clause in Contracts

Sanction Clause. No (re)insurer shall be deemed to provide cover and no (re)insurer shall be liable to pay any claim or provide any benefit hereunder to the extent that the provision of such cover, payment of such claim or provision of such benefit would expose that (re)insurer to any sanction, prohibition or restriction under United Nations resolutions or the trade or economic sanctions, laws or regulations of the European Union, Georgia, the United Kingdom or the United States of America (provided that this does not violate any regulation or specific national law applicable to the undersigned (re)insurer).

Sanction Clause. No (re)insurer shall be deemed to provide cover and no (re)insurer shall be liable to pay any claim or provide any benefit hereunder to the extent that the provision of such cover, payment of such claim or provision of such benefit would expose that (re)insurer re) insurer to any sanction, prohibition or restriction under United Nations resolutions or the trade or economic sanctions, laws or regulations of the European Union, Georgia, the United Kingdom or the United States of America (provided that this does not violate any regulation or specific national law applicable to the undersigned (re)insurer)America.