OFAC definition

OFAC means the Office of Foreign Assets Control of the United States Department of the Treasury.

OFAC means the Office of Foreign Assets Control of the U.S. Department of Treasury.

OFAC means the United States Department of Treasury Office of Foreign Assets Control.

Examples of OFAC in a sentence

• Without in any limiting the effect of the Force Majeure section of the Master Services Agreement, from time to time Bank may need to temporarily suspend the processing of a transaction, particularly an IAT, for greater scrutiny or verification, including, but not limited to, suspending processing to review for suspected fraudulent activity or for compliance with the OFAC Rules, and Bank shall be excused if this action causes delay in the settlement and/or availability of the transaction.

• Customer represents and warrants that Customer and Customer’s Affiliates are not included in the U.S. Department of the Treasury, Office of Foreign Asset Control (OFAC) list of Specially Designated Nationals and Blocked Persons, US Department of Commerce, Bureau of Industry and Security (BIS) Denied Persons List, BIS Entity List, or BIS Unverified List and will promptly inform Reltio if Customer is included on any of the above-referenced lists.

• Neither the Company nor any of its Subsidiaries nor, to the Company’s knowledge, any director, officer or controlled Affiliate of the Company or any of its Subsidiaries, has ever had funds blocked by a United States bank or financial institution, temporarily or otherwise, as a result of OFAC concerns.

More Definitions of OFAC

OFAC shall have the meaning assigned to such term in Section 3.22.

OFAC means the U.S. Department of the Treasury’s Office of Foreign Assets Control, and any successor thereto.

OFAC has the meaning set forth in Section 3.23.

OFAC is the U.S. Department of Treasury Office of Foreign Assets Control. “OFAC Lists” are, collectively, the Specially Designated Nationals and Blocked Persons List maintained by OFAC pursuant to Executive Order No. 13224, 66 Fed. Reg. 49079 (Sept. 25, 2001) and/or any other list of terrorists or other restricted Persons maintained pursuant to any of the rules and regulations of OFAC or pursuant to any other applicable Executive Orders.

OFAC is defined in Section 5.16(a).

OFAC has the meaning assigned to such term in Section 3.17(a).

OFAC shall have the meaning provided in Section 3.25(b).