Common use of Applicability of ISP98 and UCP Clause in Contracts

Applicability of ISP98 and UCP. Unless otherwise expressly agreed by the Issuing Lender and the Borrower when a Letter of Credit is issued including any such agreement as 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.

Applicability of ISP98 and UCP. Unless otherwise expressly agreed by the Issuing Lender and the Borrower when a Letter of Credit is issued including any such agreement as and subject to applicable laws, performance under Letters of Credit by Issuing Lender, its correspondents, and beneficiaries will be governed by, with respect to an Existing Letter standby Letters of Credit, (i) the rules of the ISP shall apply to each standby Letter of Credit, and “International Standby Practices 1998” (iiISP98) the rules of the Uniform Customs and Practice for Documentary Credits, or such later revision as most recently may be published by the International Chamber of Commerce at (the time of issuance shall apply to each commercial Letter of Credit“ICC”).

Applicability of ISP98 and UCP. Unless otherwise expressly agreed by the an Issuing Lender and the Borrower when a Letter of Credit is issued including any issued, either the “International Standby Practices 1998” published by the Institute of International Banking Law & Practice (or such agreement later version thereof as applicable to an Existing Letter may be in effect at the time of Creditissuance) or, (i) at the rules option of the ISP shall apply to each standby Letter of CreditBorrower, and (ii) the rules of the Uniform Customs and Practice for Documentary CreditsCredits (“UCP”), as most recently published by the International Chamber of Commerce at the time of issuance shall apply to each commercial Letter of Credit.

Applicability of ISP98 and UCP. Unless otherwise expressly agreed by the Issuing Lender and the Borrower when a Letter of Credit is issued including any such agreement as and subject to applicable laws, performance under Letters of Credit by Issuing Lender, its correspondents, and beneficiaries will be governed by, with respect to an Existing Letter standby Letters of Credit, (i) the rules of the ISP shall apply to each standby Letter of Credit, and "International Standby Practices 1998" (iiISP98) the rules of the Uniform Customs and Practice for Documentary Credits, or such later revision as most recently may be published by the International Chamber of Commerce at (the time of issuance shall apply to each commercial Letter of Credit."ICC"). ---

Applicability of ISP98 and UCP. Unless otherwise expressly agreed by the Issuing Lender and the Borrower when a Letter of Credit is issued including any such agreement as and subject to applicable laws, performance under Letters of Credit by Issuing Lender, its correspondents, and beneficiaries will be governed by, with respect to an Existing Letter standby Letters of Credit, (i) the rules of the ISP shall apply to each standby Letter of Credit, and “International Standby Practices 1998” (iiISP98) the rules of the Uniform Customs and Practice for Documentary Credits, or such later revision as most recently may be published by the International Chamber of Commerce at (the time of issuance shall apply to each commercial Letter of Credit“ICC’).

Applicability of ISP98 and UCP. Unless otherwise expressly agreed by the Issuing Lender and the Borrower when a Letter of Credit is issued including any such agreement as and subject to applicable laws, performance under Letters of Credit by Issuing Lender, its correspondents, and beneficiaries will be governed by (i) with respect to an Existing Letter Financial Letters of Credit, (i) the rules of the ISP shall apply to each standby Letter of Credit, and "International Standby Practices 1998" (ii"ISP98") the rules of the Uniform Customs and Practice for Documentary Credits, or such later revision as most recently may be published by the International Chamber of Commerce at the time of issuance shall apply to each commercial Letter of Credit.Institute of

Applicability of ISP98 and UCP. Unless otherwise expressly agreed by the Issuing Lender and the Borrower when a Letter of Credit is issued including any such agreement as and subject to applicable to an Existing Letter laws, performance under Letters of CreditCredit by Issuing Lender, (i) the rules of the ISP shall apply to each standby Letter of Creditits correspondents, and (ii) beneficiaries will be governed by, with respect to commercial letters of credit, the rules of the Uniform Customs and Practice for Documentary Credits, UCP or such later revision as most recently may be published by the International Chamber of Commerce at (the time of issuance shall apply “ICC”) and with respect to each commercial Letter standby Letters of Credit, the rules of the “International Standby Practices 1998” (ISP98) or such later revision as may be published by the ICC.

Applicability of ISP98 and UCP. Unless otherwise expressly agreed by the Issuing Lender and the Borrower when a Letter of Credit is issued including any such agreement as applicable to an Existing Letter issued, performance under Letters of CreditCredit by the Issuing Lender, (i) its correspondents, and beneficiaries will be governed by the rules of the ISP shall apply to each standby Letter of Credit, and "International Standby Practices 1998" (iiISP98) the rules of the Uniform Customs and Practice for Documentary Credits, or such later revision as most recently may be published by the International Chamber of Commerce at (the time of issuance shall apply to each commercial Letter of Credit."ICC"). ---

Applicability of ISP98 and UCP. Unless otherwise expressly agreed by the Issuing Lender Bank and the Borrower Company when a Letter of Credit is issued including any such agreement as and subject to applicable to an Existing Letter laws, performance under Letters of CreditCredit by the Issuing Bank, (i) its correspondents, and beneficiaries will be governed by the rules of the ISP shall apply to each standby Letter of Credit, and "International Standby Practices 1998" (iiISP98) the rules of the Uniform Customs and Practice for Documentary Credits, or such later revision as most recently may be published by the International Chamber of Commerce at (the time of issuance shall apply to each commercial Letter of Credit"ICC").

Applicability of ISP98 and UCP. Unless otherwise expressly agreed by the Issuing Lender Banks and the Borrower Borrowers when a Letter of Credit is issued including any such agreement as applicable to an Existing Letter of Creditissued, (i) the rules of the ISP “International Standby Practices 1998” published by the Institute of International Banking Law & Practice (or such later version thereof as may be in effect at the time of issuance) 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.