Document ID: 15760

Text:
Section 3.29.Embargoed Person. As of the date hereof, (a) none of the funds or other assets of any Borrower Party or any Affiliated Manager constitute property of, or are beneficially owned, directly or indirectly, by any Person or government that is the subject of economic sanctions under U.S. law, including but not limited to, the USA PATRIOT Act of 2001 , 107 Public Law 56 (October 26, 2001) (including the anti-terrorism provisions thereof) and in other statutes and all orders, rules and regulations of the United States government and its various executive departments, agencies and offices related to applicable anti-money laundering laws and regulations, the International Emergency Economic Powers Act, 50 U.S.C. 1701 et seq., the Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder (collectively referred as the Patriot Act) with the result that transactions involving or the investment in any such Borrower Party or any such Affiliated Manager (whether directly or indirectly) is prohibited by applicable law or the Loan made by Lender is in violation of applicable law (Embargoed Person); (b)none of the funds or other assets of any Borrower Party or any Affiliated Manager constitute property of, or are beneficially owned, directly or indirectly, by any Embargoed Person; (c) no Embargoed Person has any interest of any nature whatsoever in any Borrower Party or any Affiliated Manager, with the result that transactions involving or the investment in any such Borrower Party (whether directly or indirectly), is prohibited by applicable law or the Loan is in violation of applicable law; and (d) none of the funds of any Borrower Party or any Affiliated Manager have been derived from, or are the proceeds of, any unlawful activity with the result that transactions involving or the investment in any such Borrower Party or any such Affiliated Manager (whether directly or indirectly), is prohibited by applicable law or the Loan is in violation of applicable law; provided, that, each of the representations and warranties above are made only to Borrowers knowledge with respect to the direct and/or indirect ownership of any shares of stock in ARCNYC REIT that are listed on the New York Stock Exchange, NASDAQ Global Select Market or another nationally recognized stock exchange. Any violation of the foregoing shall, at Lenders option, constitute an Event of Default hereunder.

Named Entities:
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Regulation
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EffectiveDate
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Regulation
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Act
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Regulation
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Tokenized Text:
Section
3
.
29
.
Embargoed
Person
.
As
of
the
date
hereof
,
(
a
)
none
of
the
funds
or
other
assets
of
any
Borrower
Party
or
any
Affiliated
Manager
constitute
property
of
,
or
are
beneficially
owned
,
directly
or
indirectly
,
by
any
Person
or
government
that
is
the
subject
of
economic
sanctions
under
U
.
S
.
law
,
including
but
not
limited
to
,
the
USA
PATRIOT
Act
of
2001
,
107
Public
Law
56
(
October
26
,
2001
)
(
including
the
anti-terrorism
provisions
thereof
)
and
in
other
statutes
and
all
orders
,
rules
and
regulations
of
the
United
States
government
and
its
various
executive
departments
,
agencies
and
offices
related
to
applicable
anti-money
laundering
laws
and
regulations
,
the
International
Emergency
Economic
Powers
Act
,
50
U
.
S
.
C
.
1701
et
seq
.
,
the
Trading
with
the
Enemy
Act
,
50
U
.
S
.
C
.
App
.
1
et
seq
.
,
and
any
Executive
Orders
or
regulations
promulgated
thereunder
(
collectively
referred
as
the
Patriot
Act
)
with
the
result
that
transactions
involving
or
the
investment
in
any
such
Borrower
Party
or
any
such
Affiliated
Manager
(
whether
directly
or
indirectly
)
is
prohibited
by
applicable
law
or
the
Loan
made
by
Lender
is
in
violation
of
applicable
law
(
Embargoed
Person
)
;
(
b
)
none
of
the
funds
or
other
assets
of
any
Borrower
Party
or
any
Affiliated
Manager
constitute
property
of
,
or
are
beneficially
owned
,
directly
or
indirectly
,
by
any
Embargoed
Person
;
(
c
)
no
Embargoed
Person
has
any
interest
of
any
nature
whatsoever
in
any
Borrower
Party
or
any
Affiliated
Manager
,
with
the
result
that
transactions
involving
or
the
investment
in
any
such
Borrower
Party
(
whether
directly
or
indirectly
)
,
is
prohibited
by
applicable
law
or
the
Loan
is
in
violation
of
applicable
law
;
and
(
d
)
none
of
the
funds
of
any
Borrower
Party
or
any
Affiliated
Manager
have
been
derived
from
,
or
are
the
proceeds
of
,
any
unlawful
activity
with
the
result
that
transactions
involving
or
the
investment
in
any
such
Borrower
Party
or
any
such
Affiliated
Manager
(
whether
directly
or
indirectly
)
,
is
prohibited
by
applicable
law
or
the
Loan
is
in
violation
of
applicable
law
;
provided
,
that
,
each
of
the
representations
and
warranties
above
are
made
only
to
Borrowers
knowledge
with
respect
to
the
direct
and
/
or
indirect
ownership
of
any
shares
of
stock
in
ARCNYC
REIT
that
are
listed
on
the
New
York
Stock
Exchange
,
NASDAQ
Global
Select
Market
or
another
nationally
recognized
stock
exchange
.
Any
violation
of
the
foregoing
shall
,
at
Lenders
option
,
constitute
an
Event
of
Default
hereunder
.