Common use of Applicability of ISP Clause in Contracts

Applicability of ISP. Unless otherwise expressly agreed by the applicable Issuing Bank and Borrower when a Letter of Credit is issued or when it is amended with the consent of the beneficiary thereof, the rules of the ISP shall apply to each Letter of Credit and as to all matters not governed thereby, the law of the State of New York. Notwithstanding the foregoing, no Issuing Bank shall be responsible to Borrower for, and each Issuing Bank’s rights and remedies against Borrower shall not 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 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 Issuing Bank L/C Issuer and Borrower the Company when a Letter of Credit is issued or when it is amended with the consent (including any such agreement applicable to an Existing Letter of the beneficiary thereofCredit), the rules of the ISP shall apply to each Letter of Credit and as to all matters not governed thereby, the law of the State of New YorkCredit. Notwithstanding the foregoing, no Issuing Bank L/C Issuer shall be responsible to Borrower the Company or any other Permitted L/C Party for, and each Issuing Bankno L/C Issuer’s rights and remedies against Borrower the Company or any other Permitted L/C Party 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 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, 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 Issuing Bank L/C Issuer and Borrower the Borrowers when a Letter of Credit is issued or when by it is amended with the consent (including any such agreement applicable to a Letter of Credit that exists as of the beneficiary thereofSecond Amendment Effective Date), the rules of the ISP shall apply to each Letter of Credit and as to all matters not governed thereby, the law of the State of New YorkCredit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to Borrower the Borrowers for, and each Issuing Bankthe L/C Issuer’s rights and remedies against Borrower the 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 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 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 Issuing Bank and the Borrower when a Letter of Credit is issued 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 as to all matters not governed thereby, the law of the State of New YorkCredit. Notwithstanding the foregoing, no the applicable Issuing Bank shall not be responsible to the Borrower for, and each 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 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 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. Unless otherwise expressly agreed by the applicable Issuing Bank and the Borrower when a Letter of Credit is issued or when it is amended with the consent of the beneficiary thereof, the rules of the ISP shall apply to each standby Letter of Credit and as to all matters not governed thereby, the law of the State of New YorkCredit. Notwithstanding the foregoing, no the applicable Issuing Bank shall not be responsible to the Borrower for, and each 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 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 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. Unless otherwise expressly agreed by the applicable Issuing Bank and Borrower when a Letter of Credit is issued or when it is amended with the consent of the beneficiary thereof, the rules of the ISP shall apply to each Letter of Credit and as to all matters not governed thereby, the law of the State of New York. Notwithstanding the foregoing, no Issuing Bank shall be responsible to Borrower for, and each Issuing Bank’s rights and remedies against Borrower shall not 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 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 Issuing Bank and the Borrower when a Letter of Credit is issued or when it is amended with the consent of the beneficiary thereof, the rules of the ISP shall apply to each Letter of Credit and as to all matters not governed thereby, the law of the State of New York. Notwithstanding the foregoing, no Issuing Bank shall be responsible to the Borrower for, and each Issuing Bank’s rights and remedies against Borrower shall not 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 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 Issuing Bank and Borrower when a Letter of Credit is issued or when it is amended with the consent of the beneficiary thereof, the rules of the ISP shall apply to each Letter of Credit and as to all matters not governed thereby, the law of the State of New York. Notwithstanding the foregoing, no Issuing Bank shall be responsible to Borrower for, and each Issuing Bank’s rights and remedies against Borrower shall not 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 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-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 Issuing Bank L/C Issuer and Borrower the Company when a Letter of Credit is issued or when it is amended with the consent (including any such agreement applicable to an Existing Letter of the beneficiary thereofCredit), the rules of the ISP shall apply to each Letter of Credit and as to all matters not governed thereby, the law of the State of New YorkCredit. Notwithstanding the foregoing, no Issuing Bank L/C Issuer shall be responsible to Borrower the Company or any other Permitted L/C Party for, and each Issuing Bankno L/C Issuer’s rights and remedies against Borrower the Company or any other Permitted L/C Party 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 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, 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 Issuing Bank and Borrower when a Letter of Credit is issued or when it is amended with the consent of the beneficiary thereof, the rules of the ISP shall apply to each Letter of Credit and as to all matters not governed thereby, the law of the State of New York. Notwithstanding the foregoing, no Issuing Bank shall be responsible to Borrower for, and each Issuing Bank’s rights and remedies against Borrower shall not 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 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. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued or when it is amended with the consent (including any such agreement applicable to an Existing Letter of the beneficiary thereofCredit), the rules of the ISP shall apply to each Letter of Credit and as to all matters not governed thereby, the law of the State of New YorkCredit. Notwithstanding the foregoingforgoing, no Issuing Bank the applicable L/C Issuer shall not be responsible to the Borrower for, and each Issuing Bankthe applicable L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank the applicable L/C Issuer required or specifically contemplated and permitted under any law, order, or practice that is required or specifically contemplated and 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 applicable 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 & and Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP. Unless otherwise expressly agreed by the applicable Issuing Bank and the Borrower when a Letter of Credit is issued or when it is amended with the consent of the AMERICAS 123601947 99 beneficiary thereof, the rules of the ISP shall apply to each standby Letter of Credit and as to all matters not governed thereby, the law of the State of New YorkCredit. Notwithstanding the foregoing, no the applicable Issuing Bank shall not be responsible to the Borrower for, and each 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 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 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. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and a Borrower when a Letter of Credit is issued or when it is amended with the consent (including any such agreement applicable to an Existing Multi-Currency Letter of the beneficiary thereofCredit), the rules of the ISP shall apply to each standby Letter of Credit and as to all matters not governed thereby, the law of the State of New YorkCredit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the Borrower for, and each Issuing Bankthe L/C Issuer’s rights and remedies against Borrower the 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 Credit 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 ISPISP 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-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 Issuing Bank L/C Issuer and the U.S. Borrower when a Letter of Credit is issued or when it is amended with the consent (including any such agreement applicable to an Existing Letter of the beneficiary thereofCredit), the rules of the ISP shall apply to each Letter of Credit and as to all matters not governed thereby, the law of the State of New YorkCredit. Notwithstanding the foregoing, no Issuing Bank the L/C Issuer shall not be responsible to the U.S. Borrower for, and each Issuing Bankthe L/C Issuer’s rights and remedies against the U.S. 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, 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 Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued or when it is amended with the consent (including any such agreement applicable to an Existing Letter of the beneficiary thereofCredit), the rules of the ISP shall apply to each Letter of Credit and as to all matters not governed thereby, the law of the State of New YorkCredit. Notwithstanding the foregoing, no Issuing Bank the applicable L/C Issuer shall not be responsible to the Borrower for, and each Issuing Bankthe applicable L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank the applicable L/C Issuer required or specifically contemplated and permitted under any law, order, or practice that is required or specifically contemplated and 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 applicable L/C Issuer or the beneficiary is located, the practice stated in the ISP, 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 & and Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued or when it is amended with the consent (including any such agreement applicable to an Existing Letter of the beneficiary thereofCredit), the rules of the ISP shall apply to each Letter of Credit and as to all matters not governed thereby, the law of the State of New YorkCredit. Notwithstanding the foregoingforgoing, no Issuing Bank the applicable L/C Issuer shall not be responsible to the Borrower for, and each Issuing Bankthe applicable L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank the applicable L/C Issuer required or specifically contemplated and permitted under any law, order, or practice that is required or specifically contemplated and 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 applicable 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 & and Practice, whether or not any Letter of Credit chooses such law or practice.

Applicability of ISP. Unless otherwise expressly agreed by the applicable Issuing Bank and the Borrower when a Letter of Credit is issued 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 as to all matters not governed thereby, the law of the State of New YorkCredit. Notwithstanding the foregoing, no the applicable Issuing Bank shall not be responsible to the Borrower for, and each 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 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 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.. SECTION 2.06

Applicability of ISP. Unless otherwise expressly agreed by the applicable Issuing Bank and Borrower Borrower, when a Letter of Credit is issued or when it is amended with the consent of the beneficiary thereof, the rules of the ISP shall apply to each standby Letter of Credit and as to all matters not governed thereby, the law of the State of New York. Notwithstanding the foregoing, no Issuing Bank shall be responsible to the Borrower for, and each Issuing Bank’s rights and remedies against Borrower shall not be impaired by, any action or inaction of such 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 or any order of a jurisdiction where such Issuing Bank or the beneficiary is located, the practice stated in the ISP, or in the decisions, opinions, practice statements, 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. Unless otherwise expressly agreed by the applicable Issuing Bank L/C Issuer and the Borrower when a Letter of Credit is issued or when it is amended with the consent (including any such agreement applicable to an Existing Letter of the beneficiary thereofCredit), the rules of the ISP shall apply to each Letter of Credit and as to all matters not governed thereby, the law of the State of New YorkCredit. Notwithstanding the foregoingforgoing, no Issuing Bank the applicable L/C Issuer shall not be responsible to the Borrower for, and each Issuing Bank’s the applicable L/C Issuer's rights and remedies against the Borrower shall not be impaired by, any action or inaction of such Issuing Bank the applicable L/C Issuer required or specifically contemplated and permitted under any law, order, or practice that is required or specifically contemplated and 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 applicable 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 & and Practice, whether or not any Letter of Credit chooses such law or practice.