Iran Sanctions

In keeping with the United States’ comprehensive Iran  sanctions provisions, the Export-Import Bank performs due diligence on the  transaction parties in all transactions.  In addition, for any transaction  that must be approved by Ex-Im Bank’s Board of  Directors, Congress has imposed restrictions to ensure that the businesses that  Ex-Im Bank helps finance are not doing prohibited business with Iran.  To  meet these restrictions, Ex-Im Bank may require you to submit one or both of  the following two certifications:  The Activities Certification and  the Sanctioned Persons Certification.  These certifications,  together with Frequently Asked Questions, are available at the following web  pages:  http://www.exim.gov/tools/applicationsandforms/upload/Iran-Sanctions-Activities-Certification.pdf, http://www.exim.gov/tools/applicationsandforms/upload/Iran-Sanctions-Sanctioned-Persons-Certification.pdf.

The Activities Certification must be  submitted by each person that is (i) the recipient of the Ex-Im Bank guarantee  or insurance and (ii) the recipient of the extension of credit supported by  Ex-Im Bank.  The “recipient of the credit” would normally be the borrower  or lessee. The person completing the Activities Certification must  complete it with respect to itself and persons that it owns or controls.

The Sanctioned Persons  Certification must be submitted by each person that is the “Controlling  Sponsor” of the recipient of the credit.  If there is no Controlling  Sponsor, the recipient of the credit must complete the Sanctioned Persons  Certification.  The person completing the Sanctioned Persons  Certification must complete it with respect to itself and persons that it owns  or controls, including the recipient of the credit.  You can see a current list persons sanctioned  under the Iran Sanctions Act at: http://www.state.gov/e/eb/tfs/spi/iran/index.htm.

Please see the forms for the relevant definitions of certain  terms used in the certifications.  If Ex-Im Bank requires you to submit  one or both of these certifications, you may wish to consult legal counsel to  ensure that you understand the certification.  If Ex-Im Bank requires you  to submit one or both of these certifications, and you fail to submit it for  any reason, then Ex-Im Bank’s Board of Directors cannot approve the  transaction.

Each financing agreement will include a  mandatory prepayment if at any time the recipient of the credit or its  controlling sponsor, or any person that is owned or  controlled by the recipient of the credit or its controlling  sponsor, becomes subject to sanctions under  the Iran Sanctions Act of 1996 (as amended).