Common use of Sanctions and Embargo Clause in Contracts

Sanctions and Embargo. Notwithstanding anything to the contrary in the policy the following condition shall apply: 9.21.1 If, by virtue of any law or regulation which is applicable at the inception of this policy or which becomes applicable at any time thereafter, providing coverage to the named insured and/or paying a claim or for business interruption and/or providing a benefit under the policy directly or indirectly breaches an embargo or sanction, the insurer shall make any payment or provide any economic benefit ito the named insured under this policy to the extent that it would be in breach of such law or regulation. 9.21.2 In circumstances where the payment or provision of a valid and otherwise collectable claim, payment for business interruption or other benefit may directly or indirectly breach an embargo or sanction, then the insurer will take all reasonable measures to obtain the necessary authorisation to make such payment or provision.