Common use of Applicability of ISP Clause in Contracts

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Applicability of ISP. Unless otherwise expressly agreed by the applicable L/C Issuer and the applicable Parent Borrower when a Letter of Credit is issued, the rules of the ISP shall apply to each standby Letter of Credit. Notwithstanding the foregoing, no the L/C Issuer shall not be responsible to either Borrower the Borrowers for, and no the L/C Issuer’s rights and remedies against either Borrower the Borrower’s shall not be impaired by, any action or inaction of such the L/C Issuer required or permitted under any law, order, order or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where such the L/C Issuer or the beneficiary is located, the practice stated in the ISPISP or the 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 & and Practice, whether or not any Letter of Credit chooses such law or practice.

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

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

Applicability of ISP. Unless otherwise expressly agreed by the applicable L/C Issuer and the applicable Borrower when a Letter of Credit is issuedissued by it (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each standby Letter of Credit. Notwithstanding the foregoing, no the L/C Issuer shall not be responsible to either the Borrower for, and no the L/C Issuer’s rights and remedies against either the Borrower shall not be impaired by, any action or inaction of such the L/C Issuer required Annex I to Third Amendment to Credit Agreement (Xxxxxx Industries, Inc.) 4888-1961-8421 v.3 ANNEX I TO THIRD AMENDMENT TO CREDIT AGREEMENT 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 the L/C Issuer or the beneficiary is located, the practice stated in the ISP, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade – - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP. Unless otherwise expressly agreed by the applicable L/C Issuer and the applicable Borrower when a Letter of Credit is issuedissued by it, the rules of the ISP shall apply to each standby Letter of Credit. Notwithstanding the foregoing, no the L/C Issuer shall not 57 be responsible to either the Borrower for, and no the L/C Issuer’s rights and remedies against either the Borrower shall not be impaired by, any action or inaction of such 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 the L/C Issuer or the beneficiary is located, the practice stated in the ISP, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade – International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

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

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