Common use of Applicability of ISP and UCP Clause in Contracts

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit Issuer and the Borrower when a Letter of Credit is issued, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit Issuer shall be responsible to the Borrower for, and no Letter of Credit Issuer’s rights and remedies against the Borrower shall be impaired by, any action or inaction of any Letter of Credit Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law or any order of a jurisdiction where such Letter of Credit Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit Issuer the relevant Issuing Lender and the Borrower when a Letter of Credit is issued, (i) the rules of the ISP or the UCP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Letter of CreditCredit (provided that for the avoidance of doubt, no Issuing Lender shall be required to issue a commercial Letter of Credit hereunder). Notwithstanding the foregoing, no Letter of Credit Issuer an Issuing Lender shall not be responsible to the Borrower for, and no Letter of Credit Issuersuch Issuing Lender’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of any Letter of Credit Issuer such Issuing Lender required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law Law or any order of a jurisdiction where such Letter of Credit Issuer Issuing Lender or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - – International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any the Letter of Credit Issuer and the applicable Borrower when a Letter of Credit is issued, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no the Letter of Credit Issuer shall not be responsible to the Borrower Borrowers for, and no the Letter of Credit Issuer’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of any the Letter of Credit Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law or any order of a jurisdiction where such the Letter of Credit Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any the Letter of Credit Issuer and the applicable Borrower when a Letter of Credit is issued, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no the Letter of Credit Issuer shall not be responsible to the Borrower for, and no the Letter of Credit Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of any the Letter of Credit Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law or any order of a jurisdiction where such the Letter of Credit Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any the Letter of Credit Issuer and the Borrower when a Letter of Credit is issued, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no the Letter of Credit Issuer shall not be responsible to the Borrower for, and no the Letter of Credit Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of any the Letter of Credit Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law or any order of a jurisdiction where such the Letter of Credit Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit Issuer the applicable Issuing Bank and the Borrower Revolving Borrowers when a Letter of Credit is issuedissued or when it is amended with the consent of the beneficiary thereof, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit Issuer the applicable Issuing Bank shall not be responsible to the Borrower Revolving Borrowers for, and no Letter of Credit Issuerthe applicable Issuing Bank’s rights and remedies against the Borrower Revolving Borrowers shall not be impaired by, any action or inaction of any Letter of Credit Issuer the applicable Issuing Bank required or permitted under any law, order, order or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law or any order of any Governmental Authority in a jurisdiction where such Letter of Credit Issuer the applicable Issuing Bank or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, statements or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit Issuer the applicable Issuing Bank and the Borrower when a Letter of Credit is issued, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit Issuer Issuing Bank shall be responsible to the Borrower for, and no Letter of Credit IssuerIssuing Bank’s rights and remedies against the Borrower shall be impaired by, any action or inaction of any Letter of Credit Issuer such Issuing Bank required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law or any order of a jurisdiction where such Letter of Credit Issuer Issuing Bank or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - – International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit Issuer the Issuing Banks and the Borrower when a Letter of Credit is issuedissued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, issuance shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit Issuer Issuing Bank shall be responsible to the Borrower for, and no Letter of Credit Issuereach Issuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of any Letter of Credit Issuer such Issuing Bank required or permitted under any lawLaw, order, or practice (which practice is stated in the ISP, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice) that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law Law or any order of a jurisdiction where such Letter of Credit Issuer Issuing Bank or the beneficiary is located, the practice stated in the ISP or UCP, as applicableISP, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit the L/C Issuer and the Borrower when a Letter of Credit is issuedissued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit the L/C Issuer shall not be responsible to the Borrower for, and no Letter of Credit the L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of any Letter of Credit the L/C Issuer required or permitted under any lawLaw, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law Law or any order of a jurisdiction where such Letter of Credit the L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law Law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit the L/C Issuer and the applicable Borrower when a Letter of Credit is issuedissued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Letter of Credit (it being understood that the applicable Borrower may request that any particular Letter of Credit be governed by either the ISP or the UCP, as selected by such Borrower or the beneficiary of such Letter of Credit). Notwithstanding the foregoing, no Letter of Credit the L/C Issuer shall not be responsible to the any Borrower for, and no Letter of Credit the L/C Issuer’s rights and remedies against the such Borrower shall not be impaired by, any action or inaction of any Letter of Credit the L/C Issuer required or permitted under any law, order, Law or practice that is required or permitted to be applied to any Letter of Credit or this AgreementCredit, including the applicable law or any order Law of a jurisdiction where such Letter of Credit the L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law Law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit the L/C Issuer and the Borrower Borrowers when a Letter of Credit is issuedissued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit the L/C Issuer shall not be responsible to the Borrower Borrowers for, and no Letter of Credit the L/C Issuer’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of any Letter of Credit the L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law Law or any order of a jurisdiction where such Letter of Credit the L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - – International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit the L/C Issuer and the applicable Borrower when a Letter of Credit is issued, issued (i) the rules of the ISP shall apply to each standby Letter of Credit, Credit and (ii) the rules of the Uniform Customs and Practice for Documentary CreditsUCP, as most recently published by the International Chamber of Commerce at the time of issuance, issuance shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit the L/C Issuer shall not be responsible to the Parent or any Borrower for, and no Letter of Credit the L/C Issuer’s rights and remedies against the Parent or any Borrower shall not be impaired by, any action or inaction of any Letter of Credit the L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law Law or any order of a jurisdiction where such Letter of Credit the L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - – International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit Issuer the applicable Issuing Bank and the Co-Borrower when a Letter of Credit is issuedissued or when it is amended with the consent of the beneficiary thereof, (i) the rules of the ISP shall apply to each standby Letter of Credit, Credit and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit Issuer the applicable Issuing Bank shall not be responsible to the applicable Co-Borrower for, and no Letter of Credit Issuerthe applicable Issuing Bank’s rights and remedies against the applicable Co-Borrower shall not be impaired by, any action or inaction of any Letter of Credit Issuer the applicable Issuing Bank required or permitted under any law, order, order or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law or any order of any Governmental Authority in a jurisdiction where such Letter of Credit Issuer the applicable Issuing Bank or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, statements or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any the applicable Letter of Credit Issuer and the Borrower when a Letter of Credit is issued, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, shall apply to each trade or commercial Letter of Credit. Notwithstanding the foregoing, no the Letter of Credit Issuer Issuers shall not be responsible to the Borrower for, and no the Letter of Credit Issuer’s Issuers’ rights and remedies against the Borrower shall not be impaired by, any action or inaction of any Letter of Credit Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law or any order of a jurisdiction where such Letter of Credit Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - − International Financial Services Association (BAFT-IFSABAFT−IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit the L/C Issuer and the Borrower Cxxxxxxxx when a Letter of Credit is issuedissued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, issuance shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit the L/C Issuer shall not be responsible to the Borrower Cxxxxxxxx for, and no Letter of Credit the L/C Issuer’s rights and remedies against the Borrower Cxxxxxxxx shall not be impaired by, any action or inaction of any Letter of Credit the L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law Law or any order of a jurisdiction where such Letter of Credit the L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit Issuer the Issuing Bank and the Borrower when a Letter of Credit is issuedissued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, issuance shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit Issuer Issuing Bank shall be responsible to the Borrower for, and no Letter of Credit Issuereach Issuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of any Letter of Credit Issuer such Issuing Bank required or permitted under any lawLaw, order, or practice (which practice is stated in the ISP, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice) that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law Law or any order of a jurisdiction where such Letter of Credit Issuer the Issuing Bank or the beneficiary is located, the practice stated in the ISP or UCP, as applicableISP, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any the Letter of Credit Issuer and the applicable Borrower when a Letter of Credit is issued, (i) the rules of the ISP shall be stated therein to apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, shall be stated therein to apply to each commercial Letter of Credit. Notwithstanding the foregoing, no the Letter of Credit Issuer shall not be responsible to the Borrower Borrowers for, and no the Letter of Credit Issuer’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of any the Letter of Credit Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law or any order of a jurisdiction where such the Letter of Credit Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit the applicable L/C Issuer and the applicable Borrower when a Letter of Credit is issued, including any such agreement applicable to an Existing Letter of Credit, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary CreditsUCP, as most recently published by the International Chamber of Commerce at the time of issuance, shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit L/C Issuer shall be responsible to the any Borrower for, and no Letter of Credit L/C Issuer’s rights and remedies against the a Borrower shall be impaired by, any action or inaction of any Letter of Credit L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law Law or any order of a jurisdiction where such Letter of Credit any L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise specified in an Existing Letter of Credit (or any renewal thereof) or expressly agreed by any Letter of Credit the L/C Issuer and the Borrower when a Letter of Credit is issued, issued (i) the rules of the ISP shall apply to each standby Standby Letter of Credit, Credit and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce UCP at the time of issuance, issuance shall apply to each commercial Commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit the L/C Issuer shall not be responsible to the Borrower for, and no Letter of Credit the L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of any Letter of Credit the L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law or any order of a jurisdiction where such Letter of Credit the L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit the L/C Issuer and the Lead Borrower or the Canadian Borrower, as applicable, when a Letter of Credit is issuedissued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit the L/C Issuer shall not be responsible to the Borrower Borrowers for, and no Letter of Credit the L/C Issuer’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of any Letter of Credit the L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law Law or any order of a jurisdiction where such Letter of Credit the L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit the L/C Issuer and the Borrower when a Letter of Credit is issuedissued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit the L/C Issuer shall not be responsible to the Borrower for, and no Letter of Credit the L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of any Letter of Credit the L/C Issuer required or permitted under any lawLaw, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law Law or any order of a jurisdiction where such Letter of Credit the L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - Trade—International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law Law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit Issuer the applicable Issuing Bank and the applicable Borrower when a Letter of Credit is issuedissued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, issuance shall apply to each commercial Letter of Credit. Notwithstanding Other than the foregoing, no Letter rules expressly promulgated by (a) the ISP for standby Letters of Credit or (b) the Uniform Customs and Practices for Documentary Credits described above, the L/C Issuer shall not be responsible to the Borrower Borrowers for, and no Letter of Credit the L/C Issuer’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of any Letter of Credit the L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Credit Agreement, including the applicable law or any order of a jurisdiction where such Letter of Credit the L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit Issuer the Lender and the Borrower when a Letter of Credit is issued, (i) the rules of the ISP “International Standby Practices 1998” published by the Institute of International Banking Law & Practice (or such later version thereof as may be in effect at the time of issuance) (the “ISP”) shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce (the “ICC”) at the time of issuanceissuance (including the ICC decision published by the Commission on Banking Technique and Practice on April 6, 1998 regarding the European single currency (euro)) shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit Issuer the Lender shall not be responsible to the Borrower for, and no Letter of Credit Issuerthe Lender’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of any Letter of Credit Issuer the Lender’s required or permitted under any lawLaw, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law Law or any order of a jurisdiction where such Letter of Credit Issuer the Lender’s or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law Law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit the L/C Issuer and the Borrower when a Letter of Credit is issuedissued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit the L/C Issuer shall not be responsible to the Borrower for, and no Letter of Credit the L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of any Letter of Credit the L/C Issuer required or permitted under any lawLaw, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law Law or any order of a jurisdiction where such Letter of Credit the L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - – International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law Law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any the applicable Letter of Credit Issuer and the Borrower when a Letter of Credit is issued, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no the applicable Letter of Credit Issuer shall not be responsible to the Borrower for, and no such Letter of Credit Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of any such Letter of Credit Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law or any order of a jurisdiction where such Letter of Credit Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any the Letter of Credit Issuer and the Borrower when a Letter of Credit is issued, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no the Letter of Credit Issuer shall not be responsible to the Borrower for, and no the Letter of Credit Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of any the Letter of Credit Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law or any order of a jurisdiction where such the Letter of Credit Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - Trade—International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any a Letter of Credit Issuer and the Borrower when a Letter of Credit is issued, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce ICC at the time of issuance, shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no the Letter of Credit Issuer Issuers shall not be responsible to the Borrower for, and no the Letter of Credit Issuer’s Issuers’ rights and remedies against the Borrower shall not be impaired by, any action or inaction of any the relevant Letter of Credit Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law or any order of a jurisdiction where such the applicable Letter of Credit Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed in writing by any Letter of Credit the applicable L/C Issuer and the Borrower when a Letter of Credit is issuedissued for the Borrower’s account by such L/C Issuer, (i) the rules of the ISP shall be stated therein to apply to each standby Letter of Credit, Credit and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall be stated therein to apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit L/C Issuer shall be responsible to the Borrower for, and no Letter of Credit such L/C Issuer’s rights and remedies against any the Borrower shall not be impaired by, any action or inaction of any Letter of Credit such L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law Laws or any order of a jurisdiction where such Letter of Credit L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC International Chamber of Commerce Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law laws or practicepractice rules.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit the applicable L/C Issuer and the applicable Borrower when a Letter of Credit is issuedissued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of CreditCredit issued by such L/C Issuer, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Letter of CreditCredit issued by such L/C Issuer. Notwithstanding the foregoing, no Letter of Credit L/C Issuer shall be responsible to the any Borrower for, and no Letter of Credit L/C Issuer’s rights and remedies against the any Borrower shall be impaired by, any action or inaction of any Letter of Credit such L/C Issuer that is consistent with this Agreement and that is required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law Law or any order of a jurisdiction where such Letter of Credit L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit the L/C Issuer and the Borrower Borrowers when a Letter of Credit is issuedissued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit the L/C Issuer shall not be responsible to the any Borrower for, and no Letter of Credit the L/C Issuer’s rights and remedies against the each Borrower shall not be impaired by, any action or inaction of any Letter of Credit the L/C Issuer required or permitted under any lawLaws, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law Laws or any order of a jurisdiction where such Letter of Credit the L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit Issuer and the Borrower when a Letter of Credit is issued, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit Issuer shall be responsible to the Borrower for, and no Letter of Credit Issuer’s rights and remedies against the Borrower shall be impaired by, any action or inaction of any Letter of Credit Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law or any order of a jurisdiction where such Letter of Credit Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - Trade—International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit the L/C Issuer and the Borrower when a Letter of Credit is issuedissued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit the L/C Issuer shall not be responsible to the Borrower for, and no Letter of Credit the L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of any Letter of Credit the L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law Law or any order of a jurisdiction where such Letter of Credit the L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit the L/C Issuer and the Borrower Company when a Letter of Credit is issuedissued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit the L/C Issuer shall not be responsible to the Borrower Company for, and no Letter of Credit the L/C Issuer’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of any Letter of Credit the L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law Law or any order of a jurisdiction where such Letter of Credit the L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit Issuer the Issuing Bank and the Borrower Borrowers when a Letter of Credit is issuedissued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, issuance shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit Issuer Issuing Bank shall be responsible to the Borrower Borrowers for, and no Letter of Credit Issuereach Issuing Bank’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of any Letter of Credit Issuer such Issuing Bank required or permitted under any lawLaw, order, or practice (which practice is stated in the ISP, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice) that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law Law or any order of a jurisdiction where such Letter of Credit Issuer the Issuing Bank or the beneficiary is located, the practice stated in the ISP or UCP, as applicableISP, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise specified in an Existing Letter of Credit (or any renewal thereof) or expressly agreed by any Letter of Credit the L/C Issuer and the Borrower when a Letter of Credit is issued, issued (i) the rules of the ISP shall apply to each standby Standby Letter of Credit, Credit and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce UCP at the time of issuance, issuance shall apply to each commercial Commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit the L/C Issuer shall not be responsible to the Borrower for, and no Letter of Credit the L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of any Letter of Credit the L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law or any order of a jurisdiction where such Letter of Credit the L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - — International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit the applicable L/C Issuer and the applicable Borrower when a Letter of Credit is issued, (i) the rules of the ISP shall apply to each standby Letter of CreditCredit issued by such L/C Issuer, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Letter of CreditCredit issued by such L/C Issuer. Notwithstanding the foregoing, no Letter of Credit L/C Issuer shall be responsible to the any Borrower for, and no Letter of Credit L/C Issuer’s rights and remedies against the any Borrower shall be impaired by, any action or inaction of any Letter of Credit such L/C Issuer that is consistent with this Agreement and that is required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law Law or any order of a jurisdiction where such Letter of Credit L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by any Letter of Credit Issuer the applicable Issuing Bank and the applicable Borrower when a Letter of Credit is issued, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Letter of Credit Issuer Issuing Bank shall be responsible to the Borrower Borrowers for, and no Letter of Credit IssuerIssuing Bank’s rights and remedies against the Borrower Borrowers shall be impaired by, any action or inaction of any Letter of Credit Issuer such Issuing Bank required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the applicable law Law or any order of a jurisdiction where such Letter of Credit Issuer Issuing Bank or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - – International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.