Common use of Duties of Issuing Bank Clause in Contracts

Duties of Issuing Bank. Issuing Bank agrees with each Bank that it will exercise and give the same care and attention to each Letter of Credit as it gives to its other letters of credit. Each Bank and the Borrower agree that, in paying any draft under any Letter of Credit, Issuing Bank has no responsibility to obtain any document (other than any documents expressly required by the respective Letter of Credit) or to ascertain or inquire as to any document's validity, enforceability, sufficiency, accuracy, or genuineness or the authority of any Person delivering it. Neither Issuing Bank nor its representatives will be liable to any Bank or any Obligated Party for any Letter of Credit's use or for any beneficiary's acts or omissions. Any action, inaction, error, delay, or omission taken or suffered by Issuing Bank or any of its representatives in connection with any Letter of Credit, applicable drafts or documents, or the transmission, dispatch, or delivery of any related message or advice, if in good faith and in conformity with applicable laws and in accordance with the standards of care specified in the Uniform Customs and Practices for Documentary Credits (1993 Revision), International Chamber of Commerce Publication No. 500 (as amended or modified), is binding upon the Obligated Parties and Banks and, except as expressly provided herein, does not place Issuing Bank or any of its representatives under any resulting liability to any Obligated Party or any Bank. Agent is not liable to any Obligated Party or any Bank for any action taken or omitted, in the absence of gross negligence or willful misconduct, by Issuing Bank or its representative in connection with any Letter of Credit.

Duties of Issuing Bank. Issuing Bank agrees with each Bank Lender and Borrower that it will exercise and give the same care and attention to each Letter of Credit LC as it gives to its other letters of credit. Each Bank Lender and the Borrower Xxxxxxxx agree that, in paying any draft under any Letter of CreditLC, Issuing Bank has no responsibility to obtain any document (other than any documents expressly required by the respective Letter of CreditLC) or to ascertain or inquire as to any document's validity, enforceability, sufficiency, accuracy, or genuineness or the authority of any Person delivering it. Neither Issuing Bank nor its representatives Representatives will be liable to any Bank Lender or any Obligated Party Borrower for any Letter of CreditLC's use or for any beneficiary's acts or omissionsomissions (including, without limitation, any acts or omissions constituting ordinary negligence). Any action, inaction, error, delay, or omission taken or suffered by Issuing Bank or any of its representatives Representatives in connection with any Letter of CreditLC, applicable drafts or documents, or the transmission, dispatch, or delivery of any related message or advice, if in good faith and in conformity with applicable laws Governmental Requirements and in accordance with (A) the standards rules of care specified the "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 LC, and (B) the rules of the Uniform Customs and Practices Practice for Documentary Credits (1993 Revision)Credits, as most recently published by the International Chamber of Commerce Publication No. 500 (as amended or modifiedthe "ICC") at the time of issuance (including the ICC decision published by the Commission on Banking Technique and Practice on April 6, 1998 regarding the European single currency (euro)) shall apply to each commercial LC, is binding upon the Obligated Parties Borrower and Banks Lenders and, except as expressly provided hereinin Section 2.1(c), does not place Issuing Bank or any of its representatives Representatives under any resulting liability to any Obligated Party Borrower or any BankLender. Agent Issuing Bank is not liable to any Obligated Party Borrower or any Bank Lender for any action taken or omitted, in the absence of gross negligence or willful misconduct, by Issuing Bank or its representative Representatives in connection with any Letter of CreditLC.

Duties of Issuing Bank. Each Issuing Bank agrees with each Borrower and each Bank that it will exercise and give the same care and attention to each Letter of Credit as it gives to its other letters of credit. Each Bank and the Borrower Borrowers agree that, in paying any draft under any Letter of Credit, Issuing Bank has no responsibility to obtain any document (other than any documents expressly required by the respective Letter of Credit) or to ascertain or inquire as to any document's validity, enforceability, sufficiency, accuracy, or genuineness or the authority of any Person delivering it. In honoring or dishonoring any presentation under a Letter of Credit, the applicable Issuing Bank agrees to observe at least the standard of practice of financial institutions that regularly issue letters of credit. Neither Issuing Bank nor its representatives will be liable to any Bank or any Obligated Party for any Letter of Credit's use or for any beneficiary's acts or omissions. Any action, inaction, error, delay, or omission taken or suffered by Issuing Bank or any of its representatives in connection with any Letter of Credit, applicable drafts or documents, or the transmission, dispatch, or delivery of any related message or advice, if in good faith and in conformity with applicable laws and in accordance with the standards of care specified in the Uniform Customs and Practices for Documentary Credits (1993 Revision), International Chamber of Commerce Publication No. 500 (as amended or modified), is binding upon the Obligated Parties and Banks and, except as expressly provided herein, does not place Issuing Bank or any of its representatives under any resulting liability to any Obligated Party or any Bank. Agent is Agents are not liable to any Obligated Party or any Bank for any action taken or omitted, in the absence of gross negligence or willful misconduct, by Issuing Bank or its representative in connection with any Letter of Credit.

Duties of Issuing Bank. Issuing Bank agrees with each Bank Lender and Borrower that it will exercise and give the same care and attention to each Letter of Credit LC as it gives to its other letters of credit. Each Bank Lender and the Borrower agree that, in paying any draft under any Letter of CreditLC, Issuing Bank has no responsibility to obtain any document (other than OTHER THAN any documents expressly required by the respective Letter of CreditLC) or to ascertain or inquire as to any document's validity, enforceability, sufficiency, accuracy, or genuineness or the authority of any Person delivering it. Neither Issuing Bank nor its representatives Representatives will be liable to any Bank Lender or any Obligated Party Borrower for any Letter of CreditLC's use or for any beneficiary's acts or omissionsomissions (INCLUDING, WITHOUT LIMITATION, ANY ACTS OR OMISSIONS CONSTITUTING ORDINARY NEGLIGENCE). Any action, inaction, error, delay, or omission taken or suffered by Issuing Bank or any of its representatives Representatives in connection with any Letter of CreditLC, applicable drafts or documents, or the transmission, dispatch, or delivery of any related message or advice, if in good faith and in conformity with applicable laws Governmental Requirements and in accordance with the standards of care specified in the Uniform Customs and Practices for Documentary Credits UNIFORM CUSTOMS AND PRACTICES FOR DOCUMENTARY CREDITS (1993 RevisionREVISION), International Chamber of Commerce Publication NoINTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO. 500 (as amended or modified), is binding upon the Obligated Parties Borrower and Banks Lenders and, except as expressly provided hereinin SECTION 2.1(c), does not place Issuing Bank or any of its representatives Representatives under any resulting liability to any Obligated Party Borrower or any BankLender. Agent Issuing Bank is not liable to any Obligated Party Borrower or any Bank Lender for any action taken or omitted, in the absence of gross negligence or willful misconduct, by Issuing Bank or its representative Representatives in connection with any Letter of CreditLC.

Duties of Issuing Bank. Issuing Bank agrees with Each Credit Party and each Bank that it will exercise and give the same care and attention to each Letter of Credit as it gives to its other letters of credit. Each Bank and the Borrower agree that, in paying any draft under any Letter of CreditLC, Issuing Bank has no responsibility to obtain any document (other than OTHER THAN any documents expressly required by the respective Letter of CreditLC) or to ascertain or inquire as to any document's validity, enforceability, sufficiency, accuracy, or genuineness or the authority of any Person delivering it. Neither Issuing Bank nor its representatives Representatives will be liable to any Bank Credit Party or any Obligated Party Company for any Letter of CreditLC's use or for any beneficiary's acts or omissionsomissions (INCLUDING, WITHOUT LIMITATION, ANY ACTS OR OMISSIONS CONSTITUTING ORDINARY NEGLIGENCE). Any action, inaction, error, delay, or omission taken or suffered by Issuing Bank or any of its representatives Representatives in connection with any Letter of CreditLC, applicable drafts or documents, or the transmission, dispatch, or delivery of any related message or advice, if in good faith and in conformity with applicable laws Governmental Requirements and in accordance with the standards of care specified in the Uniform Customs and Practices for Documentary Credits UNIFORM CUSTOMS AND PRACTICES FOR DOCUMENTARY CREDITS (1993 RevisionREVISION), International Chamber of Commerce Publication NoINTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO. 500 (as amended or modified), is binding upon the Obligated Companies and the Credit Parties and Banks and, except as expressly provided hereinin SECTION 2.3(E), does not place Issuing Bank or any of its representatives Representatives under any resulting liability to any Obligated Party Company or any BankCredit Party. Agent Issuing Bank is not liable to any Obligated Party Company or any Bank Credit Party for any action taken or omitted, in the absence of gross negligence or willful misconduct, by Issuing Bank or its representative Representative in connection with any Letter of CreditLC.

Duties of Issuing Bank. Issuing Bank agrees with each Bank Lender and Borrower that it will exercise and give the same care and attention to each Letter of Credit LC as it gives to its other letters of credit. Each Bank Lender and the Borrower agree that, in paying any draft under any Letter of CreditLC, Issuing Bank has no responsibility to obtain any document (other than any documents expressly required by the respective Letter of CreditLC) or to ascertain or inquire as to any document's validity, enforceability, sufficiency, accuracy, or genuineness or the authority of any Person delivering it. Neither Issuing Bank nor its representatives will be liable to any Bank Lender or any Obligated Party Borrower for any Letter of CreditLC's use or for any beneficiary's acts or omissionsomissions (including, without limitation, any acts or omissions constituting ordinary negligence). Any action, inaction, error, delay, or omission taken or suffered by Issuing Bank or any of its representatives in connection with any Letter of CreditLC, applicable drafts or documents, or the transmission, dispatch, or delivery of any related message or advice, if in good faith and in conformity with applicable laws Legal Requirements and in accordance with (A) the standards rules of care specified the "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), which shall apply to each standby LC, and (B) the rules of the Uniform Customs and Practices Practice for Documentary Credits (1993 Revision)Credits, as most recently published by the International Chamber of Commerce Publication No. 500 (as amended or modifiedthe "ICC") at the time of issuance --- (including the ICC decision published by the Commission on Banking Technique and Practice on April 6, 1998 regarding the European single currency (euro)), which shall apply to each LC, is binding upon the Obligated Parties Borrower and Banks and, except as expressly provided herein, Lenders and does not place Issuing Bank or any of its representatives Representatives under any resulting liability to any Obligated Party Borrower or any BankLender. Agent Issuing Bank is not liable to any Obligated Party Borrower or any Bank Lender for any action taken or omitted, in the absence of gross negligence or willful misconduct, by Issuing Bank or its representative Representatives in connection with any Letter of CreditLC.

Duties of Issuing Bank. Issuing Bank agrees with Each Credit Party and each Bank that it will exercise and give the same care and attention to each Letter of Credit as it gives to its other letters of credit. Each Bank and the Borrower agree that, in paying any draft under any Letter of CreditLC, no Issuing Bank has no any responsibility to obtain any document (other than any documents expressly required by the respective Letter of CreditLC) or to ascertain or inquire as to any document's validity, enforceability, sufficiency, accuracy, or genuineness or the authority of any Person delivering it. Neither such Issuing Bank nor its representatives Representatives will be liable to any Bank Credit Party or any Obligated Party Company for any Letter of CreditLC's use or for any beneficiary's acts or omissionsomissions (including, without limitation, any acts or omissions constituting ordinary negligence). Any action, inaction, error, delay, or omission taken or suffered by an Issuing Bank or any of its representatives Representatives in connection with any Letter of CreditLC, applicable drafts or documents, or the transmission, dispatch, or delivery of any related message or advice, if in good faith and in conformity with applicable laws Governmental Requirements and in accordance with the standards of care specified in the Uniform Customs and Practices for Documentary Credits (1993 Revision), International Chamber of Commerce Publication No. 500 (as amended or modified), is binding upon the Obligated Companies and the Credit Parties and Banks and, except as expressly provided hereinin Section 2.3(e), does not place such Issuing Bank or any of its representatives Representatives under any resulting liability to any Obligated Party Company or any BankCredit Party. Agent is not No Issuing Bank shall be liable to any Obligated Party Company or any Bank Credit Party for any action taken or omitted, in the absence of fraud, gross negligence or willful misconduct, by such Issuing Bank or its representative Representative in connection with any Letter of CreditLC.

Duties of Issuing Bank. Issuing Bank agrees with each Bank Lender and Borrower that it will exercise and give the same care and attention to each Letter of Credit LC as it gives to its other letters of credit. Each Bank Lender and the Borrower agree that, in paying any draft under any Letter of CreditLC, Issuing Bank has no responsibility to obtain any document (other than any documents expressly required by the respective Letter of CreditLC) or to ascertain or inquire as to any document's validity, enforceability, sufficiency, accuracy, or genuineness or the authority of any Person delivering it. Neither Issuing Bank nor its representatives will be liable to any Bank Lender or any Obligated Party Borrower for any Letter of CreditLC's use or for any beneficiary's acts or omissionsomissions (including, without limitation, any acts or omissions constituting ordinary negligence). Any action, inaction, error, delay, or omission taken or suffered by Issuing Bank or any of its representatives in connection with any Letter of CreditLC, applicable drafts or documents, or the transmission, dispatch, or delivery of any related message or advice, if in good faith and in conformity with applicable laws Legal Requirements and in accordance with (A) the standards rules of care specified the "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) which shall apply to each standby LC, and (B) the rules of the Uniform Customs and Practices Practice for Documentary Credits (1993 Revision)Credits, as most recently published by the International Chamber of Commerce Publication No. 500 (as amended or modifiedthe "ICC") at the time of issuance (including the ICC decision published by the Commission on Banking Technique and Practice on April 6, 1998 regarding the European single currency (euro)) which shall apply to each LC, is binding upon the Obligated Parties Borrower and Banks and, except as expressly provided herein, Lenders and does not place Issuing Bank or any of its representatives Representatives under any resulting liability to any Obligated Party Borrower or any BankLender. Agent Issuing Bank is not liable to any Obligated Party Borrower or any Bank Lender for any action taken or omitted, in the absence of gross negligence or willful misconduct, by Issuing Bank or its representative Representatives in connection with any Letter of CreditLC.

Duties of Issuing Bank. Issuing Bank agrees with Each Credit Party and each Bank that it will exercise and give the same care and attention to each Letter of Credit as it gives to its other letters of credit. Each Bank and the Borrower agree that, in paying any draft under any Letter of CreditLC, Issuing Bank has no responsibility to obtain any document (other than any documents expressly required by the respective Letter of CreditLC) or to ascertain or inquire as to any document's validity, enforceability, sufficiency, accuracy, or genuineness or the authority of any Person delivering it. Neither Issuing Bank nor its representatives Representatives will be liable to any Bank Credit Party or any Obligated Party Company for any Letter of CreditLC's use or for any beneficiary's acts or omissionsomissions (INCLUDING, WITHOUT LIMITATION, ANY ACTS OR OMISSIONS CONSTITUTING ORDINARY NEGLIGENCE). Any action, inaction, error, delay, or omission taken or suffered by Issuing Bank or any of its representatives Representatives in connection with any Letter of CreditLC, applicable drafts or documents, or the transmission, dispatch, or delivery of any related message or advice, if in good faith and in conformity with applicable laws Governmental Requirements and in accordance with the standards of care specified in the Uniform Customs and Practices for Documentary Credits (1993 Revision), International Chamber of Commerce Publication No. 500 (as amended or modified), is binding upon the Obligated Companies and the Credit Parties and Banks and, except as expressly provided hereinin SECTION 2.3(E), does not place Issuing Bank or any of its representatives Representatives under any resulting liability to any Obligated Party Company or any BankCredit Party. Agent Issuing Bank is not liable to any Obligated Party Company or any Bank Credit Party for any action taken or omitted, in the absence of gross negligence or willful misconduct, by Issuing Bank or its representative Representative in connection with any Letter of CreditLC.

Duties of Issuing Bank. Issuing Bank agrees with Each Credit Party and each Bank that it will exercise and give the same care and attention to each Letter of Credit as it gives to its other letters of credit. Each Bank and the Borrower agree that, in paying any draft under any Letter of CreditLC, Issuing Bank has no responsibility to obtain any document (other than any documents expressly required by the respective Letter of CreditLC) or to ascertain or inquire as to any document's ’s validity, enforceability, sufficiency, accuracy, or genuineness or the authority of any Person delivering it. Neither Issuing Bank nor its representatives Representatives will be liable to any Bank Credit Party or any Obligated Party Company for any Letter of Credit's LC’s use or for any beneficiary's ’s acts or omissionsomissions (including, without limitation, any acts or omissions constituting ordinary negligence). Any action, inaction, error, delay, or omission taken or suffered by Issuing Bank or any of its representatives Representatives in connection with any Letter of CreditLC, applicable drafts or documents, or the transmission, dispatch, or delivery of any related message or advice, if in good faith and in conformity with applicable laws Governmental Requirements and in accordance with the standards of care specified in the Uniform Customs and Practices for Documentary Credits (1993 Revision), International Chamber of Commerce Publication No. 500 (as amended or modified), is binding upon the Obligated Companies and the Credit Parties and Banks and, except as expressly provided hereinin Section 2.3(e), does not place Issuing Bank or any of its representatives Representatives under any resulting liability to any Obligated Party Company or any BankCredit Party. Agent Issuing Bank is not liable to any Obligated Party Company or any Bank Credit Party for any action taken or omitted, in the absence of gross negligence or willful misconduct, by Issuing Bank or its representative Representative in connection with any Letter of CreditLC.