Common use of Applicability of ISP; Limitation of Liability Clause in Contracts

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank shall be responsible to the Borrower for, and an Issuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of 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 Applicable Law or any order of a jurisdiction where such Issuing Bank or the beneficiary is located, the practice 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, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice stated in the ISP, or in the decisions, opinions, opinions practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade – International Financial Services Association (BAFT-BAFT – IFSA), or the Institute of International Banking Law & and Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each standby Letter of Credit. Notwithstanding the foregoing, no Issuing Bank L/C Issuer shall be responsible to the Borrower for, and an Issuing Banksuch L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank L/C Issuer or the beneficiary is located, the practice 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, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank 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), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the any Borrower for, and an Issuing Bankthe L/C Issuer’s rights and remedies against any the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice stated in the ISP, 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, whether or not any Letter of Credit chooses such law Law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice stated in the ISP, 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, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice 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, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower Company when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit)issued, the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower Company or any Subsidiary for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower Company or any Subsidiary shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice stated in the ISPISP 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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank 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), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the any Borrower for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the any Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice stated in the ISP, 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, whether or not any Letter of Credit chooses such law Law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice stated in the ISP, 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, whether or not any Letter of Credit chooses such law Law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower Company when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the applicable L/C Issuer shall not be responsible to the Borrower Company for, and an Issuing Banksuch L/C Issuer’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank L/C Issuer or the beneficiary is located, the practice 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, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank Lender and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each standby Letter of Credit. Notwithstanding the foregoing, no the Issuing Bank Lender shall not be responsible to the Borrower for, and an the Issuing BankLender’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such the Issuing Bank Lender 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 Applicable the Law or any order of a jurisdiction where such the Issuing Bank Lender or the beneficiary is located, the practice stated in the ISP, ISP 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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice 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 – 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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice stated in the ISP, or in the decisions, opinions, opinions practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade – International Financial Services Association (BAFT-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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each standby Letter of Credit. Notwithstanding the foregoing, no the Issuing Bank shall not be responsible to the Borrower for, and an the Issuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such the 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 Applicable the Law or any order of a jurisdiction where such the Issuing Bank or the beneficiary is located, the practice 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, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank an L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank L/C Issuer shall be responsible to the Borrower for, and an Issuing Bankno L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the applicable L/C Issuer or the beneficiary is located, the practice 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, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each standby Letter of Credit. Notwithstanding the foregoing, no Issuing Bank shall be responsible to the Borrower for, and an no Issuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank or the beneficiary is located, the practice stated in the ISPISP 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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice stated in the ISP, ISP 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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower Company when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower Company for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice stated in the ISP, ISP 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 – 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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each standby Letter of Credit. Notwithstanding the foregoing, no the Issuing Bank shall not be responsible to the Borrower for, and an the Issuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such the 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 Applicable the Law or any order of a jurisdiction where such the Issuing Bank or the beneficiary is located, the practice 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 – 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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower Company when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower Company for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice 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, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower Company when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each standby Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower Company for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice 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, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each standby Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice 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, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued (issued, including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each standby Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank the L/C Issuer 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice stated in the ISP, ISP or in the decisions, opinions, practice statements, 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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank L/C Issuer shall be responsible to the Borrower for, and an Issuing Bankno L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank L/C Issuer or the beneficiary is located, the practice 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, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower Company when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower Company for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of such Issuing Bank the L/C Issuer required or permitted under any law, or order, or written and published practice statement that is required or permitted to be applied to any Letter of Credit or this Agreement, including Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the written and published practice stated in the ISP, or in the written 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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank and the Borrower when a Letter of Credit is issued (issued, including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each standby Letter of Credit. Notwithstanding the foregoing, no the Issuing Bank shall not be responsible to the Borrower for, and an the Issuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such the 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 Applicable Law the law or any order of a jurisdiction where such the Issuing Bank or the beneficiary is located, the practice stated in the ISP, ISP or in the decisions, opinions, practice statements, statements or official commentary of the ICC CHAR1\1986393v3 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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower Company when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower Borrowers for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the a Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice 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 – 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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank L/C Issuer shall be responsible to the Borrower for, and an Issuing Bankeach L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank L/C Issuer or the beneficiary is located, the practice 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, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank L/C Issuer shall be responsible to the Borrower for, and an Issuing Bankno L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank L/C Issuer or the beneficiary is located, the practice stated in the ISP, 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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued by it (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank L/C Issuer shall be responsible to the Borrower for, and an Issuing Bankno L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank any 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank any L/C Issuer or the beneficiary is located, the practice stated in the ISP, 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, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank Letter of Credit Issuer and the Borrower applicable Fund Party when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit)issued, the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank shall be in the absence of gross negligence or willful misconduct, Letter of Credit Issuer is not responsible to the Borrower Fund Parties for, and an Issuing BankLetter of Credit Issuer’s rights and remedies against the Borrower shall any Fund Party will not be impaired by, any action or inaction of such Issuing Bank the Letter of Credit 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 Credit Agreement, including Applicable the Law or any order of a jurisdiction where such Issuing Bank Letter of Credit Issuer or the beneficiary is located, the practice 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, whether or not any Letter of Credit chooses such law Law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable with respect to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank the L/C Issuer required or permitted under any lawLaw, order, order or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice stated sated 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, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice 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, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice 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, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower Borrowers when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower Borrowers for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice 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 – 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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower Company when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit)issued, the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower any Loan Party or Subsidiary for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower Loan Parties and Subsidiaries shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice 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-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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower Company when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower Company for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice stated in the ISPISP 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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit)by it, the rules of the ISP shall apply to each standby Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice stated in the ISPISP 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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice 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 – 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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank and the Borrower when a Letter of Credit is issued (issued, including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each standby Letter of Credit. Notwithstanding the foregoing, no the Issuing Bank shall not be responsible to the Borrower for, and an the Issuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such the 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 Applicable Law the law or any order of a jurisdiction where such the Issuing Bank or the beneficiary is located, the practice stated in the ISP, ISP 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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower Company when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank L/C Issuer shall be responsible to the Borrower Company for, and an Issuing Bankno L/C Issuer’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank L/C Issuer or the beneficiary is located, the practice 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, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower Borrowers when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the any Borrower for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the any such Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable Law the law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice stated in the ISP, 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, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower Borrowers when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank L/C Issuer shall be responsible to the Borrower Borrowers for, and an Issuing Bankno L/C Issuer’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of such Issuing Bank the applicable 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank L/C Issuer or the beneficiary is located, the practice 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, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice 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 – 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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing existing Letter of Credit), the rules of the ISP shall apply to each standby Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice 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, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank an L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank L/C Issuer shall be responsible to the Borrower for, and an Issuing Bankno L/C Issuer’s rights and or remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the applicable L/C Issuer or the beneficiary is located, the practice 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 – 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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank L/C Issuer shall be responsible to the Borrower for, and an Issuing Bank’s each L/C Issuer's rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank L/C Issuer or the beneficiary is located, the practice 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, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower Company when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower Company for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice 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 – 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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each standby Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice stated in the ISP, 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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter or when it is amended with the consent of Credit)the beneficiary thereof, the rules of the ISP shall apply to each standby Letter of Credit. Notwithstanding the foregoing, no the Issuing Bank shall not be responsible to the such Borrower for, and an the Issuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such the 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 Applicable the Law or any order of any governmental authority in a jurisdiction where such the Issuing Bank or the beneficiary is located, the practice stated in the ISP, ISP 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; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower Company when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each standby Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower Company for, and an Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of such Issuing Bank 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 Applicable the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice 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 – 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.