Applicability of ISP and UCP. Unless otherwise expressly agreed by 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer shall not be responsible to the Borrower for, and the Letter of Credit Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit Issuer required or permitted under any Applicable 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 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.
Appears in 15 contracts
Samples: Credit Agreement (MultiPlan Corp), Incremental Agreement (Snap One Holdings Corp.), Credit Agreement (Snap One Holdings Corp.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit LC Issuer and the Lead Borrower when a Letter of Credit is issued, (i) the rules of the ISP shall apply to each standby Standby Letter of Credit, and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit LC Issuer shall not be responsible to the Borrower Borrowers for, and the Letter of Credit LC Issuer’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of the Letter of Credit LC Issuer required or permitted under any Applicable Lawlaw, 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 the Letter of Credit LC 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.
Appears in 9 contracts
Samples: Credit Agreement (Barnes & Noble Education, Inc.), Credit Agreement (Barnes & Noble Education, Inc.), Credit Agreement (Barnes & Noble Education, Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer Applicable Issuing Party 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 Creditunless, and (ii) for regulatory purposes, the rules of the UCP shall apply to each commercial Letter of Creditmust apply. Notwithstanding the foregoing, the Letter of Credit no L/C Issuer shall not be responsible to the any Borrower for, and the Letter of Credit no L/C Issuer’s rights and remedies against the any Borrower shall not be impaired by, any action or inaction of the Letter of Credit any such L/C Issuer required or permitted under any Applicable Lawlaw, 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 the Letter of Credit 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 Letter of Credit chooses such law or practice.
Appears in 6 contracts
Samples: Credit Agreement (Arch Capital Group Ltd.), Credit Agreement (Arch Capital Group Ltd.), Credit Agreement (Arch Capital Group Ltd.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit applicable 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 UCP at the time of issuance shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit no L/C Issuer shall not be responsible to the Borrower Borrowers for, and the Letter of Credit no L/C Issuer’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of the Letter of Credit any L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 5 contracts
Samples: Credit Agreement (MGM Resorts International), Credit Agreement (MGM Resorts International), Credit Agreement (MGM Resorts International)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer an Issuing Bank shall not be responsible to the Borrower for, and the Letter of Credit Issueran Issuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit Issuer such Issuing Bank required or permitted under any Applicable 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 the Letter of Credit Issuer such 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.
Appears in 5 contracts
Samples: Credit Agreement (YETI Holdings, Inc.), Credit Agreement (YETI Holdings, Inc.), Credit Agreement (YETI Holdings, Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit applicable L/C Issuer and the Borrower when a Letter of Credit is issuedissued by it, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit no L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit no L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit any L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 5 contracts
Samples: Credit Agreement (Cambium Networks Corp), Credit Agreement (Cambium Networks Corp), Credit Agreement (Leonardo DRS, Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer Issuing Lender 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer Issuing Lender shall not be responsible to the Borrower Company for, and the Letter of Credit IssuerIssuing Lender’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of the Letter of Credit Issuer Issuing Lender required or permitted under any Applicable 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 the 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.
Appears in 5 contracts
Samples: Credit Agreement (Corelogic, Inc.), Credit Agreement (Corelogic, Inc.), Credit Agreement (Corelogic, Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower Company for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, order, or practice that is required or permitted to be applied to any Letter of Credit Credit, Bankers’ Acceptance or this Agreement, including the Applicable Law or any order of a jurisdiction where the 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 or Bankers’ Acceptance chooses such law or practice.
Appears in 5 contracts
Samples: Credit Agreement (Mastec Inc), Credit Agreement (Mastec Inc), Credit Agreement (Mastec Inc)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer Issuing Bank and the Borrower when a Letter of Credit is issuedissued by it, (i) the rules of the ISP shall apply to each standby Letter of Credit, Credit and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer Issuing Bank shall not be responsible to the Borrower for, and the Letter of Credit IssuerIssuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit Issuer Issuing Bank required or permitted under any Applicable 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 the 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.
Appears in 5 contracts
Samples: Credit Agreement (STR Sub Inc.), Credit Agreement (Sitio Royalties Corp.), Credit Agreement (Desert Peak Minerals Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit 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 Credit, and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the any Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the any Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable 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 the 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 Law or practice.
Appears in 4 contracts
Samples: Credit Agreement (Cantel Medical Corp), Credit Agreement (Cantel Medical Corp), Credit Agreement (Cantel Medical Corp)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower Company for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable 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 the 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 Law or practice.
Appears in 4 contracts
Samples: Credit Agreement (Flir Systems Inc), Credit Agreement (Flir Systems Inc), Credit Agreement (Flir Systems Inc)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer relevant Issuing Lender 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer an Issuing Lender shall not be responsible to the Borrower for, and the Letter of Credit Issuersuch Issuing Lender’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit Issuer such Issuing Lender required or permitted under any Applicable Lawlaw, 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 the Letter of Credit Issuer such 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.
Appears in 4 contracts
Samples: Term Loan Credit and Guaranty Agreement (2U, Inc.), Credit Agreement (2U, Inc.), Credit Agreement (Microsemi Corp)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 4 contracts
Samples: Credit Agreement (Phibro Animal Health Corp), Credit Agreement (Phibro Animal Health Corp), Credit Agreement (Phibro Animal Health Corp)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable 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 the 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.
Appears in 4 contracts
Samples: Security Agreement (Matson, Inc.), Credit Agreement (Matson, Inc.), Credit Agreement (Alexander & Baldwin Inc)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit L/C Issuer and the Borrower when a Letter of Credit is issuedissued by it (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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 4 contracts
Samples: Credit Agreement (Powell Industries Inc), Credit Agreement (Mosaic Co), Credit Agreement (Mosaic Co)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit L/C 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 4 contracts
Samples: Credit Agreement (Tapstone Energy Inc.), General Security Agreement (Avon Products Inc), Assignment and Assumption (Tapstone Energy Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable 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 the 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 Law or practice.
Appears in 4 contracts
Samples: Credit Agreement (Greenbrier Companies Inc), Credit Agreement (Innerworkings Inc), Credit Agreement (Greenbrier Companies Inc)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit L/C Issuer and the Borrower Company 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower Company for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 4 contracts
Samples: Credit Agreement (LyondellBasell Industries N.V.), Credit Agreement (LyondellBasell Industries N.V.), Guaranty Agreement (LyondellBasell Industries N.V.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit applicable 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, Credit and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit applicable L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit applicable L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit such L/C Issuer required or permitted under any Applicable Lawlaw, 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 the Letter of Credit 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 Letter of Credit chooses such law or practice.
Appears in 4 contracts
Samples: Credit Agreement (TreeHouse Foods, Inc.), Credit Agreement (TreeHouse Foods, Inc.), Credit Agreement (TreeHouse Foods, Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit applicable 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit no L/C Issuer shall not be responsible to the Borrower Borrowers for, and the Letter of Credit no L/C Issuer’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of the Letter of Credit such L/C Issuer required or permitted under any Applicable Lawlaw, 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 the Letter of Credit 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 Letter of Credit chooses such law or practice.
Appears in 4 contracts
Samples: Credit Agreement (Casella Waste Systems Inc), Credit Agreement (Casella Waste Systems Inc), Credit Agreement (Casella Waste Systems Inc)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit relevant L/C 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit no L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit no L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit such L/C Issuer required or permitted under any Applicable Lawlaw, 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 the Letter of Credit 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 Letter of Credit chooses such law or practice.
Appears in 3 contracts
Samples: Credit Agreement (Cincinnati Bell Inc), Credit Agreement (Cincinnati Bell Inc), Credit Agreement (Cincinnati Bell Inc)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit L/C Issuer and the Borrower when a Letter of Credit is issuedissued by it, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 3 contracts
Samples: Credit Agreement (Paycom Software, Inc.), Credit Agreement (Raven Industries Inc), Credit Agreement (Avid Bioservices, Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit 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 Credit, and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the any Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the any Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 3 contracts
Samples: Credit Agreement (Constellium N.V.), Credit Agreement (Constellium SE), Credit Agreement (Constellium N.V.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit L/C 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, Credit and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreementagreement, including the Applicable Law or any order of a jurisdiction where the 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.
Appears in 3 contracts
Samples: Credit Agreement (Holley Inc.), Credit Agreement (Holley Inc.), Credit Agreement (Holley Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower Company for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 3 contracts
Samples: Credit Agreement (Arris Group Inc), Credit Agreement (Arris Group Inc), Credit Agreement (Arris Group Inc)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower Borrowers for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 3 contracts
Samples: Credit Agreement (Novanta Inc), Credit Agreement (Novanta Inc), Credit Agreement (Novanta Inc)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit L/C Issuer and the Borrower when a Letter of Credit is issued, (i) the rules of the ISP shall apply to each standby Standby Letter of Credit, Credit and (ii) the rules of the UCP shall apply to each commercial Commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 3 contracts
Samples: Credit Agreement (Citi Trends Inc), Credit Agreement (Citi Trends Inc), Credit Agreement (Citi Trends Inc)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit applicable L/C Issuer and the Borrower Company or any applicable Loan Party when a Letter of Credit is issuedissued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP or 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. Notwithstanding the foregoing, the Letter of Credit such L/C Issuer shall not be responsible to the Borrower Company or any applicable Loan Party for, and the Letter of Credit such L/C Issuer’s rights and remedies against the Borrower Company or any applicable Loan Party shall not be impaired by, any action or inaction of the Letter of Credit such L/C Issuer required or permitted under any Applicable 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 the Letter of Credit 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 Letter of Credit chooses such law or practice.
Appears in 3 contracts
Samples: Credit Agreement (Reinsurance Group of America Inc), Credit Agreement (Reinsurance Group of America Inc), Credit Agreement (Reinsurance Group of America Inc)
Applicability of ISP and UCP. Unless otherwise expressly agreed in writing by the Letter of Credit applicable L/C Issuer and the Borrower when a Letter of Credit is issuedissued by such L/C Issuer, (i) the rules of the ISP shall apply to each standby Letter of Credit, Credit and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit no L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit such L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit such L/C Issuer required or permitted under any Applicable Lawlaw, 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 the Letter of Credit 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 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.
Appears in 3 contracts
Samples: Credit Agreement (CarGurus, Inc.), Credit Agreement (Instructure Holdings, Inc.), Credit Agreement (Instructure Holdings, Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit applicable L/C Issuer and the Borrower Company when a Letter of Credit is issuedissued by it (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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit no L/C Issuer shall not be responsible to the Borrower Company for, and the Letter of Credit no L/C Issuer’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of the Letter of Credit any L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 3 contracts
Samples: Credit Agreement (Perkinelmer Inc), Credit Agreement (Perkinelmer Inc), Credit Agreement (Revvity, Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit applicable L/C Issuer and the Borrower when a Letter of Credit is issuedissued by it (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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit no L/C Issuer shall not be responsible to the Borrower Borrowers for, and the Letter of Credit no L/C Issuer’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of the Letter of Credit any L/C Issuer required or permitted under any Applicable 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 the 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 Law or practice.
Appears in 3 contracts
Samples: Credit Agreement (Fresh Del Monte Produce Inc), Credit Agreement (Fresh Del Monte Produce Inc), Credit Agreement (Fresh Del Monte Produce Inc)
Applicability of ISP and UCP. Unless otherwise expressly agreed by 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer shall not be responsible to the Borrower for, and the Letter of Credit Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit Issuer required or permitted under any Applicable 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 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.
Appears in 3 contracts
Samples: Credit Agreement (Grocery Outlet Holding Corp.), Incremental Agreement (Grocery Outlet Holding Corp.), Incremental Agreement (Grocery Outlet Holding Corp.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the such Letter of Credit Issuer shall not be responsible to the Borrower for, and the such Letter of Credit Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the such Letter of Credit Issuer required or permitted under any Applicable 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 the 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.
Appears in 3 contracts
Samples: Credit Agreement (LPL Financial Holdings Inc.), Credit Agreement (LPL Financial Holdings Inc.), Fourth Amendment Agreement (LPL Financial Holdings Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit applicable L/C 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 UCP at the time of issuance shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit no L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit such L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit such L/C Issuer required or permitted under any Applicable Lawlaw, 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 the Letter of Credit 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 Letter of Credit chooses such law or practice.
Appears in 3 contracts
Samples: Revolving Credit Agreement (Nordstrom Inc), Revolving Credit Agreement (Nordstrom Inc), Revolving Credit Agreement (Nordstrom Inc)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer applicable 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer no Issuing Bank shall not be responsible to the Borrower for, and the Letter of Credit Issuereach Issuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit Issuer such Issuing Bank required or permitted under any Applicable Lawlaw, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Applicable Requirements of Law or any order of a jurisdiction where the Letter of Credit Issuer such 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.
Appears in 3 contracts
Samples: Credit Agreement (Broadcom LTD), Credit Agreement (Avago Technologies LTD), Second Amendment (Broadcom Cayman L.P.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer an Issuing Bank shall not be responsible to the Borrower for, and the Letter of Credit Issueran Issuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit Issuer such Issuing Bank required or permitted under any Applicable Lawlaw, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Applicable Law Governmental Rules or any order of a jurisdiction where the Letter of Credit Issuer such 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.
Appears in 3 contracts
Samples: Credit Agreement (Cleco Power LLC), Credit Agreement (Cleco Power LLC), Credit Agreement (Cleco Power LLC)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit applicable L/C 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, Credit and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit an L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit such L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit such L/C Issuer required or permitted under any Applicable 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 the Letter of Credit 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 Letter of Credit chooses such law or practice.
Appears in 2 contracts
Samples: Credit Agreement (RingCentral, Inc.), Credit Agreement (RingCentral, Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit applicable L/C 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit no L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit no L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit such L/C Issuer required or permitted under any Applicable Lawlaw, 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 the Letter of Credit 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 Letter of Credit chooses such law or practice.
Appears in 2 contracts
Samples: Credit Agreement (Polypore International, Inc.), Credit Agreement (Polypore International, Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit applicable L/C Issuer and the Borrower when a Letter of Credit is issuedissued by it (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, Credit and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit no L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit no L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit such L/C Issuer required or permitted under any Applicable Lawlaw, 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 the Letter of Credit 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 Letter of Credit chooses such law or practice.
Appears in 2 contracts
Samples: Credit Agreement (Sunpower Corp), Credit Agreement (Sunpower Corp)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit 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, Credit and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower Borrowers for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreementagreement, including the Applicable Law or any order of a jurisdiction where the 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.
Appears in 2 contracts
Samples: Intercreditor Agreement (Owens & Minor Inc/Va/), Restatement Agreement (NortonLifeLock Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit L/C Issuer and the Company or 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the any Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the any Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable 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 the 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 Law or practice.
Appears in 2 contracts
Samples: Credit Agreement (Albemarle Corp), Credit Agreement (Albemarle Corp)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit L/C Issuer and the Borrower when a Letter of Credit is issuedissued by it, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 2 contracts
Samples: Credit Agreement (Tilray Brands, Inc.), Credit Agreement (Tilray Brands, Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit applicable L/C Issuer and the Borrower Borrowers when a Letter of Credit is issuedissued by it (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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit no L/C Issuer shall not be responsible to the Borrower Borrowers for, and the Letter of Credit no L/C Issuer’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of the Letter of Credit any L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 2 contracts
Samples: Credit Agreement (Smith & Wesson Brands, Inc.), Credit Agreement (Smith & Wesson Brands, Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit applicable 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit no L/C Issuer shall not be responsible to the Borrower Borrowers for, and the Letter of Credit no L/C Issuer’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of the Letter of Credit such L/C Issuer required or permitted under any Applicable Lawlaw, 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 the Letter of Credit 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 - 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.
Appears in 2 contracts
Samples: Credit Agreement (Casella Waste Systems Inc), Credit Agreement (Casella Waste Systems Inc)
Applicability of ISP and UCP. Unless otherwise expressly agreed by 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer shall not be responsible to the Borrower for, and the such Letter of Credit Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the such Letter of Credit Issuer required or permitted under any Applicable 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 the 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.
Appears in 2 contracts
Samples: Security Agreement (MultiPlan Corp), Credit Agreement (MultiPlan Corp)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable 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 the 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 - 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.
Appears in 2 contracts
Samples: Credit Agreement (Northwest Pipe Co), Credit Agreement (Greenbrier Companies Inc)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit applicable L/C Issuer and the Borrower Company when a Letter of Credit is issuedissued by it (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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit no L/C Issuer shall not be responsible to the Borrower Company for, and the Letter of Credit no L/C Issuer’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of the Letter of Credit any L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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 - 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.
Appears in 2 contracts
Samples: Credit Agreement (Jacobs Solutions Inc.), Credit Agreement (Jacobs Engineering Group Inc /De/)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit applicable L/C Issuer and the Borrower Borrowers when a Letter of Credit is issuedissued by it (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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit no L/C Issuer shall not be responsible to the Borrower Borrowers for, and the Letter of Credit no L/C Issuer’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of the Letter of Credit any L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 2 contracts
Samples: Pledge Agreement (Ciena Corp), Abl Credit Agreement (Ciena Corp)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding Other than the foregoingrules expressly promulgated by the ISP for standby Letters of Credit, the Letter of Credit Issuer no Issuing Bank shall not be responsible to the Borrower Borrowers for, and the Letter of Credit Issueran Issuing Bank’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of the Letter of Credit Issuer such Issuing Bank required or permitted under any Applicable Lawlaw, order, or practice that is required or permitted to be applied to any Letter of Credit or this Credit Agreement, including the Applicable Law law or any order of a jurisdiction where the Letter of Credit Issuer such 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.
Appears in 2 contracts
Samples: Credit Agreement (Medtronic PLC), Credit Agreement (Medtronic PLC)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer applicable Issuing Bank and the Borrower when a Letter of Credit is issuedissued by it (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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer no Issuing Bank shall not be responsible to the Borrower for, and the Letter of Credit Issuerno Issuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit Issuer any Issuing Bank required or permitted under any Applicable Lawlaw, 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 the Letter of Credit Issuer any 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.
Appears in 2 contracts
Samples: Credit Agreement (Rite Aid Corp), Credit Agreement (Rite Aid Corp)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer an Issuing Bank shall not be responsible to the Borrower for, and the Letter of Credit Issueran Issuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit Issuer such Issuing Bank required or permitted under any Applicable Lawlaw, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Applicable Law Governmental Rules or any order of a jurisdiction where the Letter of Credit Issuer such 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-IFSABAFT‑IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.
Appears in 2 contracts
Samples: Credit Agreement (Cleco Power LLC), Credit Agreement (Cleco Power LLC)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit L/C Issuer and the Borrower when a Letter of Credit is issuedissued by it (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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 2 contracts
Samples: Credit Agreement (Team Inc), Credit Agreement (Team Inc)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Revolving Letter of Credit Issuer and the Borrower when a Revolving Letter of Credit is issued, (i) the rules of the ISP shall apply to each standby Revolving Letter of Credit, and (ii) the rules of the UCP 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 Revolving Letter of Credit. Notwithstanding the foregoing, the Revolving Letter of Credit Issuer shall not be responsible to the Borrower for, and the Revolving Letter of Credit Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Revolving Letter of Credit Issuer required or permitted under any Applicable Lawlaw, order, or practice that is required or permitted to be applied to any Revolving Letter of Credit or this Agreement, including the Applicable Law applicable law or any order of a jurisdiction where the Revolving 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 Revolving Letter of Credit chooses such law or practice.
Appears in 2 contracts
Samples: Joinder Agreement (BrightSpring Health Services, Inc.), First Lien Credit Agreement (BrightSpring Health Services, Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit L/C Issuer and the Borrower Borrowers 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower Borrowers for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 2 contracts
Samples: Credit Agreement (Ichor Holdings, Ltd.), Credit Agreement (Ichor Holdings, Ltd.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit applicable L/C 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 UCP at the time of issuance shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit no L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit such L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit such L/C Issuer required or permitted under any Applicable Lawlaw, 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 the Letter of Credit 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 Letter of Credit chooses such law or practice.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Nordstrom Inc), Revolving Credit Agreement (Nordstrom Inc)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer 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 UCP 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 Other than the foregoingrules expressly promulgated by (a) the ISP for standby Letters of Credit or (b) the Uniform Customs and Practices for Documentary Credits described above, the Letter of Credit L/C Issuer shall not be responsible to the Borrower Borrowers for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, order, or practice that is required or permitted to be applied to any Letter of Credit or this Credit Agreement, including the Applicable Law law or any order of a jurisdiction where the 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.
Appears in 2 contracts
Samples: Amendment and Restatement Agreement, Amendment and Restatement Agreement (Medtronic Inc)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer an Issuing Bank shall not be responsible to the Borrower for, and the Letter of Credit Issueran Issuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit Issuer such Issuing Bank required or permitted under any Applicable 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 the Letter of Credit Issuer such 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.
Appears in 2 contracts
Samples: Credit Agreement (YETI Holdings, Inc.), Credit Agreement (YETI Holdings, Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer applicable Issuing Lender and the Borrower when a Letter of Credit is issued, (ia) the rules of the ISP shall apply to each standby Letter of Credit, and (iib) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer Issuing Lender shall not be responsible to the Borrower for, and the Letter of Credit IssuerIssuing Lender’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit Issuer Issuing Lender required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 2 contracts
Samples: Term Credit Agreement (Revlon Inc /De/), Credit Agreement (Revlon Inc /De/)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit L/C 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 2 contracts
Samples: Abl Credit Agreement (Constellium Holdco B.V.), Abl Credit Agreement (Constellium Holdco B.V.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable 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 the 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 Law or practice.
Appears in 1 contract
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit L/C Issuer and the Borrower Company 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the any Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the any Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable 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 the 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 Law or practice.
Appears in 1 contract
Samples: Credit Agreement (Albemarle Corp)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer Applicable Issuing Party 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 Creditunless, and (ii) for regulatory purposes, the rules of the UCP shall apply to each commercial Letter of Creditmust apply. Notwithstanding the foregoing, the Letter of Credit no L/C Issuer shall not be responsible to the any Borrower for, and the Letter of Credit no L/C Issuer’s rights DB1/ 115371409.4 and remedies against the any Borrower shall not be impaired by, any action or inaction of the Letter of Credit any such L/C Issuer required or permitted under any Applicable Lawlaw, 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 the Letter of Credit 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 Letter of Credit chooses such law or practice.
Appears in 1 contract
Applicability of ISP and UCP. Unless otherwise expressly agreed by 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the no Letter of Credit Issuer shall not be responsible to the Borrower for, and the no Letter of Credit Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the such Letter of Credit Issuer required or permitted under any Applicable 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 the 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 is stated to be subject to such law or practice. SECTION 4.
Appears in 1 contract
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer applicable Issuing Bank and the Borrower when a Letter of Credit is issuedissued by it (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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer no Issuing Bank shall not be responsible to the Borrower for, and the Letter of Credit Issuerno Issuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit Issuer any Issuing Bank required or permitted under any Applicable Lawlaw, 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 the Letter of Credit Issuer any 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.
Appears in 1 contract
Samples: Credit Agreement (Rite Aid Corp)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 1 contract
Samples: Credit Agreement (TUTOR PERINI Corp)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit applicable L/C Issuer and the Borrower Company when a Letter of Credit is issuedissued by it (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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit no L/C Issuer shall not be responsible to the Borrower Company for, and the Letter of Credit no L/C Issuer’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of the Letter of Credit any L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 1 contract
Samples: Credit Agreement (Jacobs Engineering Group Inc /De/)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit applicable LC Issuer and the Borrower when a Letter of Credit is issuedissued by it, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit no LC Issuer shall not be responsible to the Borrower for, and the Letter of Credit no LC Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit any LC Issuer required or permitted under any Applicable Lawlaw, 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 the Letter of Credit any LC 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.
Appears in 1 contract
Applicability of ISP and UCP. Unless otherwise expressly agreed by 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 UCP 124 LPL – Conformed A&R Credit Agreement shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the such Letter of Credit Issuer shall not be responsible to the Borrower for, and the such Letter of Credit Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the such Letter of Credit Issuer required or permitted under any Applicable 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 the 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.
Appears in 1 contract
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer an Issuing Bank shall not be responsible to the Borrower for, and the Letter of Credit Issueran Issuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit Issuer such Issuing Bank required or 61 Cleco CorporationCorporate Holdings LLC Credit Agreement permitted under any Applicable Lawlaw, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Applicable Law Governmental Rules or any order of a jurisdiction where the Letter of Credit Issuer such 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.
Appears in 1 contract
Samples: Credit Agreement (Cleco Power LLC)
Applicability of ISP and UCP. Unless otherwise expressly agreed in writing by the Letter of Credit applicable L/C Issuer and the Borrower when a Letter of Credit is issuedissued by such L/C Issuer, (i) the rules of the ISP shall apply to each standby Letter of Credit, Credit and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit no L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit such L/C Issuer’s 's rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit such L/C Issuer required or permitted under any Applicable Lawlaw, 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 the Letter of Credit 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 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.
Appears in 1 contract
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer applicable Issuing Bank and the Borrower when a Letter of Credit is issuedissued by it, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer no Issuing Bank shall not be responsible to the Borrower for, and the Letter of Credit Issuerno Issuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit Issuer any Issuing Bank required or permitted under any Applicable 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 the Letter of Credit Issuer any 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.
Appears in 1 contract
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer Issuing Bank shall not be responsible to the Borrower for, and the Letter of Credit IssuerIssuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit Issuer Issuing Bank required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 1 contract
Samples: First Lien Credit Agreement (Authentic Brands Group Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the such Letter of Credit Issuer shall not be responsible to the Borrower for, and the such Letter of Credit Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the such Letter of Credit Issuer required or permitted under any Applicable 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 the 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.. 111 LPL – Conformed A&R Credit Agreement
Appears in 1 contract
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower Company for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, order, or practice that is required or permitted to be applied to any Letter of Credit Credit, Bankers’ Acceptance or this Agreement, including the Applicable Law or any order of a jurisdiction where the 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 - Trade—International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit or Bankers’ Acceptance chooses such law or practice.
Appears in 1 contract
Samples: Credit Agreement (Mastec Inc)
Applicability of ISP and UCP. Unless otherwise expressly agreed by 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer shall not be responsible to the Borrower for, and the Letter of Credit Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit Issuer required or permitted under any Applicable 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 Table of Contents order of a jurisdiction where 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.
Appears in 1 contract
Samples: Credit Agreement (Amsurg Corp)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit L/C Issuer and the applicable Borrower when a Letter of Credit is issuedissued by it, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the applicable Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the applicable Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 1 contract
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer relevant Issuing Lender 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer no Issuing Lender shall not be responsible to the Borrower for, and the Letter of Credit Issuerno Issuing Lender’s rights and or remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit Issuer such Issuing Lender required or permitted under any Applicable Lawlaw, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Applicable Requirement of Law or any order of a jurisdiction where the Letter of Credit Issuer such 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.
Appears in 1 contract
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Revolving Letter of Credit Issuer and the Borrower when a Revolving Letter of Credit is issued, (i) the rules of the ISP shall apply to each standby Revolving Letter of Credit, and (ii) the rules of the UCP 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 Revolving Letter of Credit. Notwithstanding the foregoing, the Revolving Letter of Credit Issuer shall not be responsible to the Borrower for, and the Revolving Letter of Credit Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Revolving Letter of Credit Issuer required or permitted under any Applicable Lawlaw, order, or practice that is required or permitted to be applied to any Revolving Letter of Credit or this Agreement, including the Applicable Law applicable law or any order of a jurisdiction where the Revolving 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 -International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Revolving Letter of Credit chooses such law or practice.
Appears in 1 contract
Samples: First Lien Credit Agreement (BrightSpring Health Services, Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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 11 International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.
Appears in 1 contract
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 1 contract
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer Issuing Lender 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer Issuing Lender shall not be responsible to the Borrower for, and the Letter of Credit IssuerIssuing Lender’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit Issuer Issuing Lender required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 1 contract
Samples: Credit Agreement (Microsemi Corp)
Applicability of ISP and UCP. Unless otherwise expressly agreed by 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer shall not be responsible to the Borrower for, and the such Letter of Credit Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the such Letter of Credit Issuer required or permitted under any Applicable 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 the such Letter of -118- 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.
Appears in 1 contract
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer an Issuing Bank shall not be responsible to the Borrower for, and the Letter of Credit Issueran Issuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit Issuer such Issuing Bank required or permitted under any Applicable Lawlaw, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Applicable Law Governmental Rules or any order of a jurisdiction where the Letter of such Issuing Cleco Power LLC Credit Issuer Agreement 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.
Appears in 1 contract
Samples: Credit Agreement (Cleco Power LLC)
Applicability of ISP and UCP. Unless otherwise expressly agreed by 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer shall not be responsible to the Borrower for, and the such Letter of Credit Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the such Letter of Credit Issuer required or permitted under any Applicable 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 the 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. SECTION 4.
Appears in 1 contract
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the any Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the each Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable 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 the 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.
Appears in 1 contract
Samples: Petition Credit Agreement (Noranda Aluminum Holding CORP)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower Borrowers for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action 71 or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 1 contract
Samples: Credit Agreement (Novanta Inc)
Applicability of ISP and UCP. Unless otherwise expressly agreed by 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the no Letter of Credit Issuer shall not be responsible to the Borrower for, and the no Letter of Credit Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the such Letter of Credit Issuer required or permitted under any Applicable 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 the 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 is stated to be subject to such law or practice.. 117
Appears in 1 contract
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer applicable Issuing Lender and the Borrower Company when a Letter of Credit is issuedissued by it (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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer no Issuing Lender shall not be responsible to the Borrower Company for, and the Letter of Credit Issuerno Issuing Lender’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of the Letter of Credit Issuer any Issuing Lender required or permitted under any Applicable Lawlaw, 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 the Letter of Credit Issuer any 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.
Appears in 1 contract
Samples: Credit Agreement (Copart Inc)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit L/C Issuer and the Borrower Company when a Letter of Credit is issuedissued by it (including any such agreement applicable to the Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower Company for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 1 contract
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit L/C Issuer and the Borrower when a Letter of Credit is issued, (i) the rules of the ISP or the UCP, as determined by the L/C Issuer, shall apply to each standby Letter of Credit, and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreementagreement, including the Applicable Law or any order of a jurisdiction where the 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.
Appears in 1 contract
Samples: Credit Agreement (Paycor Hcm, Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit 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 Credit, and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the any Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the any Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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 - 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.
Appears in 1 contract
Samples: Credit Agreement (Constellium Se)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer applicable Issuing Lender 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer no Issuing Lender shall not be responsible to the Borrower for, and the Letter of Credit Issuerno Issuing Lender’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit Issuer any Issuing Lender required or permitted under any Applicable Lawlaw, 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 the Letter of Credit Issuer such 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 57 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.
Appears in 1 contract
Samples: Credit Agreement (Sanmina Corp)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer an Issuing Bank shall not be responsible to the Borrower for, and the Letter of Credit Issueran Issuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit Issuer such Issuing Bank required or permitted under any Applicable Lawlaw, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Applicable Law Governmental Rules or any order of a jurisdiction where the Letter of Credit Issuer such 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-IFSABAFT‑IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.
Appears in 1 contract
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit applicable L/C Issuer and the Borrower when a Letter of Credit is issuedissued by it (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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit no L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit no L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit any L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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.
Appears in 1 contract
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer Applicable Issuing Party and the Borrower when a Letter of Credit is issued, (i) issued either the rules of the ISP or the UCP at the option of the Borrower shall apply to each standby Letter of Credit, and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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 commentary, in each case 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.
Appears in 1 contract
Samples: Credit Agreement (Cme Group Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower Company for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable 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 the 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 - 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.
Appears in 1 contract
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer Applicable Issuing Party and the Borrower when a Letter of Credit is issued, (i) issued either the rules of the ISP or the UCP at the option of the Borrower shall apply to each standby Letter of Credit, and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit L/C Issuer shall not be responsible to the Borrower for, and the Letter of Credit L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Letter of Credit L/C Issuer required or permitted under any Applicable Lawlaw, 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 the 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 commentary, in each case 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.
Appears in 1 contract
Samples: Credit Agreement (Cme Group Inc.)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit LC Issuer and the Lead Borrower when a Letter of Credit is issued, (i) the rules of the ISP shall apply to each standby Standby Letter of Credit, and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit LC Issuer shall not be responsible to the Borrower Borrowers for, and the Letter of Credit LC Issuer’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of the Letter of Credit LC Issuer required or permitted under any Applicable Lawlaw, 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 the Letter of Credit LC 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.
Appears in 1 contract
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding Other than the foregoingrules expressly promulgated by the ISP for standby Letters of Credit, the Letter of Credit Issuer no Issuing Bank shall not be responsible to the Borrower Borrowers for, and the Letter of Credit Issueran Issuing Bank’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of the Letter of Credit Issuer such Issuing Bank required or permitted under any Applicable Lawlaw, order, or practice that is required or permitted to be applied to any Letter of Credit or this Credit Agreement, including the Applicable Law law or any order of a jurisdiction where the Letter of Credit Issuer such 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.
Appears in 1 contract
Samples: Credit Agreement (Medtronic PLC)
Applicability of ISP and UCP. Unless otherwise expressly agreed by the Letter of Credit Issuer an 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 UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Letter of Credit Issuer no Issuing Bank shall not be responsible to the Borrower Borrowers for, and the Letter of Credit Issuereach Issuing Bank’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of the Letter of Credit Issuer such Issuing Bank required or permitted under any Applicable Lawlaw, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Applicable Law applicable law or any order of a jurisdiction where the Letter of Credit Issuer such 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.
Appears in 1 contract
