Common use of Choice of Law/Binding Effect Clause in Contracts

Choice of Law/Binding Effect. This Reimbursement and Pledge Agreement and the rights and obligations of the parties hereunder shall be construed and interpreted in accordance with the laws of the State of New York, excluding the laws applicable to conflicts or choice of law (other than Section 5-1401 of the New York General Obligations Law). Regardless of any provision in any other agreement, for purposes of Article 9 of the uniform commercial code as in effect in the State of New York, New York shall be deemed to be the Administrative Agent’s, the Fronting Bank’s, the LC Administrator’s and the Lenders’ jurisdiction.

Choice of Law/Binding Effect. This Reimbursement and Pledge Agreement and the rights and obligations of the parties hereunder shall be construed and interpreted in accordance with the laws of the State of New York, excluding the laws applicable to conflicts or choice of law (other than Section 5-1401 of the New York General Obligations Law). Regardless of any provision in any other agreement, for purposes of Article 9 of the uniform commercial code as in effect in the State of New York, New York shall be deemed to be the Administrative Agent’s, the Fronting Issuing Bank’s, the LC Administrator’s and the Lenders’ jurisdiction.