ISP and UCP. 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), (i) the rules of the ISP and the UCP shall apply to each standby Letter of Credit and (ii) the rules of the UCP shall apply to each commercial Letter of Credit.
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (Entegris Inc), Credit and Guaranty Agreement (Entegris Inc)
ISP and UCP. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the a 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 be stated therein and the UCP shall apply to each standby Letter of Credit and (ii) the rules of the UCP shall apply to each commercial Letter of Credit.. (l)
Appears in 1 contract
ISP and UCP. 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), (i) the rules of the ISP and the UCP shall apply to each standby Letter of Credit Credit, and (ii) the rules of the UCP shall apply to each commercial Letter of Credit.. (l) [Reserved]. -109- #96501157v12
Appears in 1 contract
