Common use of Applicability of ISP and UCP Clause in Contracts

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable L/C Issuer and Borrower when an L/C is issued (including any such agreement applicable to an Existing L/C), (i) the rules of the ISP shall apply to each standby L/C and each Bond L/C, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits (“UCP”), as most recently published by the International Chamber of Commerce at the time of issuance, shall apply to each commercial L/C. Notwithstanding the foregoing, each L/C Issuer shall not be responsible to Borrower for, and such L/C Issuer’s rights and remedies against Borrower shall not be impaired by, any action or inaction of such L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any L/C or this Agreement, including the Law or any order of a jurisdiction where such 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 L/C chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable L/C Issuer and Borrower the Parent or the Canadian Borrower, as applicable, when an L/C a Letter of Credit is issued (including any such agreement applicable to an Existing L/CLetter of Credit), (i) the rules of the ISP shall apply to each standby L/C and each Bond L/CStandby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits (“UCP”)Credits, as most recently published by the International Chamber of Commerce at the time of issuance, issuance shall apply to each commercial L/C. Commercial Letter of Credit. Notwithstanding the foregoing, each the L/C Issuer shall not be responsible to Borrower the Borrowers for, and such the L/C Issuer’s rights and remedies against Borrower the Borrowers shall not be impaired by, any action or inaction of such the L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any L/C Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where such 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 L/C Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable L/C Issuer and the applicable Borrower when an L/C a Letter of Credit is issued (including any such agreement applicable to an Existing L/CLetter of Credit), (i) the rules of the ISP shall apply to each standby L/C and each Bond L/CLetter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits (“UCP”), as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial L/C. 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, each the L/C Issuer shall not be responsible to any Borrower for, and such the L/C Issuer’s rights and remedies against such Borrower shall not be impaired by, any action or inaction of such the L/C Issuer required or permitted under any law, order, Law or practice that is required or permitted to be applied to any L/C or this AgreementLetter of Credit, including the Law or any order of a jurisdiction where such 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 L/C Letter of Credit chooses such law Law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable L/C Issuer and the Borrower when an L/C a Letter of Credit is issued (including any such agreement applicable to an Existing L/CLetter of Credit), (i) the rules of the ISP shall apply to each standby L/C and each Bond L/CLetter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits (“UCP”)Credits, as most recently published by the International Chamber of Commerce at the time of issuance, issuance (the “UCP”) shall apply to each commercial L/C. Letter of Credit. Notwithstanding the foregoing, each no L/C Issuer shall not be responsible to the Borrower for, and such L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any L/C or this AgreementLetter of Credit, including the Law or any order of a jurisdiction where such 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 L/C Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the such applicable L/C Issuer and the Borrower when an L/C a Letter of Credit is issued (including any such agreement applicable to an Existing L/CLetter of Credit), (i) the rules of the ISP shall apply to each standby L/C and each Bond L/CLetter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits (“UCP”)Credits, as most recently published by the International Chamber of Commerce at the time of issuance, issuance shall apply to each commercial L/C. Letter of Credit. Notwithstanding the foregoing, each no L/C Issuer shall not be responsible to the Borrower for, and such no L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such any applicable L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any L/C Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where such any applicable L/C Issuer or the 75911819_12 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 L/C Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable L/C Issuer and Borrower the Borrower, when an L/C a Letter of Credit is issued (including any such agreement applicable to an Existing L/C)issued, (i) the Borrower may specify that either the rules of the ISP shall apply to each standby L/C and each Bond L/C, and (ii) or the rules of the Uniform Customs and Practice for Documentary Credits (“UCP”), as most recently published by the International Chamber of Commerce at the time of issuance, apply to each standby Letter of Credit, and (ii) the rules of the UCP shall apply to each commercial L/C. Letter of Credit. Notwithstanding the foregoing, each the L/C Issuer shall not be responsible to the Borrower for, and such the L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such the L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any L/C Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where such 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 L/C chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable L/C Issuer and Borrower when an L/C is issued (including any such agreement applicable to an Existing L/C), (i) the rules of the ISP shall apply to each standby L/C and each Bond L/C, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits (“UCP”), as most recently published by the International Chamber of Commerce at the time of issuance, shall apply to each commercial L/C. Notwithstanding the foregoing, each L/C Issuer shall not be responsible to Borrower for, and such L/C Issuer’s rights and remedies against Borrower shall not be impaired by, any action or inaction of such L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any L/C or this Agreement, including the Law or any order of a jurisdiction where such 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 L/C chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the such applicable L/C Issuer and the Borrower when an L/C a Letter of Credit is issued (including any such agreement applicable to an Existing L/CLetter of Credit), (i) the rules of the ISP shall apply to each standby L/C and each Bond L/CLetter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits (“UCP”)Credits, as most recently published by the International Chamber of Commerce at the time of issuance, issuance shall apply to each commercial L/C. Letter of Credit. Notwithstanding the foregoing, each no L/C Issuer shall not be responsible to the Borrower for, and such no L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such any applicable L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any L/C Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where such any applicable 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 Exhibit 10.3 Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any L/C Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the such applicable L/C Issuer and the Borrower when an L/C a Letter of Credit is issued (including any such agreement applicable to an Existing L/CLetter of Credit), (i) the rules of the ISP shall apply to each standby L/C and each Bond L/CLetter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits (“UCP”)Credits, as most recently published by the International Chamber of Commerce at the time of issuance, issuance shall apply to each commercial L/C. Letter of Credit. Notwithstanding the foregoing, each no L/C Issuer shall not be responsible to the Borrower for, and such no L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such any applicable L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any L/C Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where such any applicable 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 L/C Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable L/C Issuer and Borrower when an L/C is issued (including any such agreement applicable to an Existing L/L/ C), (i) the rules of the ISP shall apply to each standby L/C and each Bond L/C, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits (“UCP”), as most recently published by the International Chamber of Commerce at the time of issuance, shall apply to each commercial L/C. Notwithstanding the foregoing, each L/C Issuer shall not be responsible to Borrower for, and such L/C Issuer’s rights and remedies against Borrower shall not be impaired by, any action or inaction of such L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any L/C or this Agreement, including the Law or any order of a jurisdiction where such 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 L/C chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable L/C Issuer and Borrower when an L/C is issued (including any such agreement applicable to an Existing L/C), (i) the rules of the ISP shall apply to each standby L/C and each Bond L/C, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits (“UCP”), as most recently published by the International Chamber of Commerce at the time of issuance, shall apply to each commercial L/C. Notwithstanding the foregoing, each L/C Issuer shall not be responsible to Borrower for, and such L/C Issuer’s rights and remedies against Borrower shall not be impaired by, any action or inaction of such L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any L/C or this Agreement, including the Law or any order of a jurisdiction where such 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 L/C chooses such law or practice.