Commercial Practices. Borrower assumes all risks of the acts or omissions of any LC Beneficiary or transferees of any Letter of Credit with respect to the use of such Letter of Credit. Borrower agrees that neither any LC Issuing Bank, Administrative Agent nor any Lender (nor any of their respective directors, officers, or employees) shall be liable or responsible for: (a) the use which may be made of any Letter of Credit or for any acts or omissions of any LC Beneficiary or transferee in connection therewith; (b) any reference which may be made to this Agreement or to any Letter of Credit in any agreements, instruments or other documents; (c) the validity, sufficiency or genuineness of documents other than the Letters of Credit, or of any endorsement(s) thereon, even if such documents should in fact prove to be in any or all respects invalid, insufficient, fraudulent or forged or any statement therein proved to be untrue or inaccurate in any respect whatsoever; (d) payment by any LC Issuing Bank against presentation of documents which do not strictly comply with the terms of the applicable Letter of Credit, including failure of any documents to bear any reference or adequate reference to such Letter of Credit; or (e) any other circumstances whatsoever in making or failing to make payment under any Letter of Credit, except only that an LC Issuing Bank shall be liable to Borrower for acts or events described in clauses (a) through (e) above, to the extent, but only to the extent, of any direct damages, as opposed to indirect, special or consequential damages, suffered by Borrower which Borrower proves were caused by (i) any LC Issuing Bank’s willful misconduct or gross negligence in determining whether a drawing made under the applicable Letter of Credit complies with the terms and conditions therefor stated in such Letter of Credit or (ii) any LC Issuing Bank’s willful failure to pay under any Letter of Credit after a drawing by the respective LC Beneficiary strictly complying with the terms and conditions of the applicable Letter of Credit. Without limiting the foregoing, any LC Issuing Bank may accept any document that appears on its face to be in order, without responsibility for further investigation. Borrower hereby waives any right to object to any payment made under a Letter of Credit with regard to a drawing that is in the form provided in such Letter of Credit but which varies with respect to punctuation (except punctuation with respect to any Dollar amount specified th...
Commercial Practices. Goods and works for Sub-Grants made to Implementing Partners under Part A of the Project may be procured in accordance with commercial practices as described in the Project Operational Manual.
Commercial Practices. Items estimated to cost less than $1,000,000 equivalent per contract and to be financed under Sub-loans made for Sub-projects under Part B of the Project, may be procured in accordance with commercial practices acceptable to the Association.
Commercial Practices. Contracts for: (a) goods estimated to cost the equivalent of less than $4,000,000 per contract; and (b) works estimated to cost the equivalent of less than $4,000,000 per contract, may be awarded in accordance with the established commercial practices of the Beneficiary Enterprise, due account being taken also of other relevant factors such as time of delivery and efficiency and reliability thereof and availability of maintenance and spare parts.
Commercial Practices. The products and practices involved in trading electricity. The term “Commercial Practices” only refers to an interaction among market entities that does not affect or require assistance from Grid Operating Entities that have grid reliability responsibilities.
Commercial Practices. Services to be provided under contracts under Part B.3 of the Project an estimated to cost less than $100,000 equivalent by contract may be procured in accordance with commercial practices acceptable to the Association.
Commercial Practices. Goods and related works estimated to cost DEM 2,000,000 or less per contract may be procured at competitive prices, in accordance with the normal commercial practices of the respective Beneficiaries, due account being taken also of other relevant factors such as time of delivery and efficiency and reliability thereof and availability of maintenance and spare parts thereof.
Commercial Practices. Goods and Works, including Supply and Installation contracts, estimated to cost less than $350,000 equivalent per contract, required under Part B of the Project, may be procured in accordance with commercial practices acceptable to the Bank.
Commercial Practices. Goods, works and non-consultant services for Subprojects to be financed under Grants may be procured in accordance with commercial practices acceptable to the Bank and set forth in the Operational Manual.
Commercial Practices. Services estimated to cost less than $200,000 equivalent per contract and to be financed for Biodiversity Subprojects, NRM Subprojects and/or Pilot Area Subprojects under Parts A.1, A.2 and B of the Project, may be procured in accordance with commercial practices acceptable to the Bank.
