GL-5

Summary

General License No. 5 under the Nicaragua Sanctions Regulations (31 CFR part 582) authorizes transactions that are ordinarily incident and necessary to wind down any transaction involving Exportadora de Metales Sociedad Anonima (EMSA) or any entity in which EMSA owns a 50 percent or greater interest, directly or indirectly. The authorization is time-limited and requires that any payments to a blocked person be made into a blocked account in accordance with the NSR. The license does not authorize transactions involving other blocked persons under the NSR unless separately authorized.

Authorized activities

• Wind down of transactions involving EMSA
• Wind down of transactions involving any entity in which EMSA owns, directly or indirectly, a 50 percent or greater interest
• Payments to blocked persons made into blocked accounts in accordance with the NSR, incident to the above wind-down activities

Conditions

Any payment to a blocked person must be made into a blocked account in accordance with the NSR. The license does not authorize transactions involving any person blocked pursuant to the NSR other than EMSA and entities in which EMSA owns, directly or indirectly, a 50 percent or greater interest, unless separately authorized.