Common use of Applicability of ISP and UCP Clause in Contracts

Applicability of ISP and UCP. Unless otherwise expressly agreed by the 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 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 the foregoing, no Issuing Bank shall be responsible to the Borrower for, and no Issuing Bank’s rights and remedies against the Borrower shall be impaired by, any action or inaction of such Issuing Bank required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where 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.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable Issuing Bank any 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 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 the foregoing, no Issuing Bank Letter of Credit Issuer shall be responsible to the Borrower for, and no Issuing BankLetter of Credit Issuer’s rights and remedies against the Borrower shall be impaired by, any action or inaction of such Issuing Bank any Letter of Credit Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law applicable law or any order of a jurisdiction where such Issuing Bank Letter of Credit Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade – - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable Issuing Bank and the Borrower when a Letter of Credit is issuedissued or when it is amended with the consent of the beneficiary thereof, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no the applicable Issuing Bank shall not be responsible to the Borrower for, and no the applicable Issuing Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such the applicable Issuing Bank required or permitted under any law, order, order or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law applicable law or any order of any Governmental Authority in a jurisdiction where such the applicable Issuing Bank or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, statements or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade – International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable relevant Issuing Bank Lender and the Borrower when a Letter of Credit is issued, (i) the rules of the ISP or the UCP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Letter of CreditCredit (provided that for the avoidance of doubt, no Issuing Lender shall be required to issue a commercial Letter of Credit hereunder). Notwithstanding the foregoing, no an Issuing Bank Lender shall not be responsible to the Borrower for, and no such Issuing BankLender’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank Lender required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where such Issuing Bank 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.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable Issuing Bank and the Borrower Revolving Borrowers when a Letter of Credit is issuedissued or when it is amended with the consent of the beneficiary thereof, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no the applicable Issuing Bank shall not be responsible to the Borrower Revolving Borrowers for, and no the applicable Issuing Bank’s rights and remedies against the Borrower Revolving Borrowers shall not be impaired by, any action or inaction of such the applicable Issuing Bank required or permitted under any law, order, order or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law applicable law or any order of any Governmental Authority in a jurisdiction where such the applicable Issuing Bank or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, statements or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade – International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

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

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the applicable Borrower when a Letter of Credit is issued, issued (i) the rules of the ISP shall apply to each standby Letter of Credit, Credit and (ii) the rules of the Uniform Customs and Practice for Documentary CreditsUCP, as most recently published by the International Chamber of Commerce at the time of issuance, issuance shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Parent or any Borrower for, and no Issuing Bankthe L/C Issuer’s rights and remedies against the Parent or any Borrower shall not be impaired by, any action or inaction of such Issuing Bank the L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade – International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the 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 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 the foregoing, no Issuing Bank shall be responsible to the Borrower for, and no Issuing Bank’s rights and remedies against the Borrower shall be impaired by, any action or inaction of such Issuing Bank required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law law or any order of a jurisdiction where 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.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable Issuing Bank and the Co-Borrower when a Letter of Credit is issuedissued or when it is amended with the consent of the beneficiary thereof, (i) the rules of the ISP shall apply to each standby Letter of Credit, Credit and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no the applicable Issuing Bank shall not be responsible to the applicable Co-Borrower for, and no the applicable Issuing Bank’s rights and remedies against the applicable Co-Borrower shall not be impaired by, any action or inaction of such the applicable Issuing Bank required or permitted under any law, order, order or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law applicable law or any order of any Governmental Authority in a jurisdiction where such the applicable Issuing Bank or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, statements or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade – International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Lead Borrower or the Canadian Borrower, as applicable, 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 Standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Commercial Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower Borrowers for, and no Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of such Issuing Bank the L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade – - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the applicable Borrower when a Letter of Credit is issued, including any such agreement applicable to an Existing Letter of Credit, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary CreditsUCP, as most recently published by the International Chamber of Commerce at the time of issuance, shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Issuing Bank L/C Issuer shall be responsible to the any Borrower for, and no Issuing BankL/C Issuer’s rights and remedies against the a Borrower shall be impaired by, any action or inaction of such Issuing Bank any L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where such Issuing Bank any L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade – - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise specified in an Existing Letter of Credit (or any renewal thereof) or expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued, issued (i) the rules of the ISP shall apply to each standby Standby Letter of Credit, Credit and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce UCP at the time of issuance, issuance shall apply to each commercial Commercial Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower for, and no Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank the L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade – - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable Issuing Bank 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 Financial Letter of Credit and Performance Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Commercial Letter of Credit. Notwithstanding the foregoing, no Issuing Bank L/C Issuer shall be responsible to the Borrower for, and no Issuing BankL/C Issuer’s rights and remedies against the Borrower shall be impaired by, any action or inaction of such Issuing Bank L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where such Issuing Bank L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade – International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable Issuing Bank 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 Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Issuing Bank L/C Issuer shall be responsible to the Borrower or any other Loan Party for, and no Issuing BankL/C Issuer’s rights and remedies against the Borrower or any other Loan Party shall be impaired by, any action or inaction of such Issuing Bank L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where such Issuing Bank L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade – - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise specified in an Existing Letter of Credit (or any renewal thereof) or expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued, issued (i) the rules of the ISP shall apply to each standby Standby Letter of Credit, Credit and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce UCP at the time of issuance, issuance shall apply to each commercial Commercial Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower for, and no Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank the L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade – — International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable Issuing Bank 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 CreditCredit issued by such L/C Issuer, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Letter of CreditCredit issued by such L/C Issuer. Notwithstanding the foregoing, no Issuing Bank L/C Issuer shall be responsible to the any Borrower for, and no Issuing BankL/C Issuer’s rights and remedies against the any Borrower shall be impaired by, any action or inaction of such Issuing Bank L/C Issuer that is consistent with this Agreement and that is required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where such Issuing Bank L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade – - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable Issuing Bank 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 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 the foregoing, no Issuing Bank shall be responsible to the Borrower Borrowers for, and no Issuing Bank’s rights and remedies against the Borrower Borrowers shall be impaired by, any action or inaction of such Issuing Bank required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where 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.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable Issuing Bank 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 Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce UCP at the time of issuance, issuance shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower for, and no Issuing Bank’s the L/C Issuer's rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank the L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade – - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable Issuing Bank a 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 Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce ICC at the time of issuance, shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the Letter of Credit Issuers shall not be responsible to the Borrower for, and no Issuing Bank’s the Letter of Credit Issuers’ rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank the relevant Letter of Credit Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law applicable law or any order of a jurisdiction where such Issuing Bank the applicable 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.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable Issuing Bank any 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 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 the foregoing, no Issuing Bank Letter of Credit Issuer shall be responsible to the Borrower for, and no Issuing BankLetter of Credit Issuer’s rights and remedies against the Borrower shall be impaired by, any action or inaction of such Issuing Bank any Letter of Credit Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law applicable law or any order of a jurisdiction where such Issuing Bank Letter of Credit Issuer or the beneficiary is located, the practice stated in the ISP or 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.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Lead Borrower or the Canadian Borrower, as applicable, 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 Standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Commercial Letter of Credit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower Borrowers for, and no Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower Borrowers shall not be impaired by, any action or inaction of such Issuing Bank the L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice stated in the ISP or 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.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable Issuing Bank 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 Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Issuing Bank L/C Issuer shall be responsible to the Borrower or any other Loan Party for, and no Issuing BankL/C Issuer’s rights and remedies against the Borrower or any other Loan Party shall be impaired by, any action or inaction of such Issuing Bank L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where such Issuing Bank L/C Issuer or the beneficiary is located, the practice stated in the ISP or 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.

Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable Issuing Bank 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 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 the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower Company for, and no Issuing Bankthe L/C Issuer’s rights and remedies against the Borrower Company shall not be impaired by, any action or inaction of such Issuing Bank the L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where such Issuing Bank the L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade – International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP and UCP. Unless otherwise expressly agreed in writing by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issuedissued for the Borrower’s account by such L/C Issuer, (i) the rules of the ISP shall be stated therein to apply to each standby Letter of Credit, Credit and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, UCP shall be stated therein to apply to each commercial Letter of Credit. Notwithstanding the foregoing, no Issuing Bank L/C Issuer shall be responsible to the Borrower for, and no Issuing Banksuch L/C Issuer’s rights and remedies against any the Borrower shall not be impaired by, any action or inaction of such Issuing Bank L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law Laws or any order of a jurisdiction where such Issuing Bank L/C Issuer or the beneficiary is located, the practice stated in the ISP or 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.