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Insert the following definitions as new definitions into clause 1 of Precedent: Asset purchase agreement—pro-buyer—corporate seller—unconditional—long form:

1. 1. 1

      Definitions and interpretation

      Sanctioned Activity

      1. •

         means any activity subject to sanctions imposed by the Sanctioning Body;

      Sanctioning Body

      1. •

         means the United Kingdom, United States of America, European Union and any other applicable local, national or multinational government agency, department, official parliament, public or statutory person or any government or professional body, regulatory or supervisory authority, board or other body responsible for imposing and/or administering sanctions;

      Sanctioned Entity

      1. •

         means any person or entity which is, or which is owned or controlled directly or indirectly by a person or entity which is, the subject of sanctions imposed by, or on a designated sanctions list by, a Sanctioning