ISP 98 definition
ISP 98 means, with respect to any Letter of Credit, the “International Standby Practices 1998” published by the Institute of International Banking Law & Practice, Inc. (or such later version thereof as may be acceptable to the applicable Issuing Bank and in effect at the time of issuance of such Letter of Credit).
ISP 98 means the International Standby Practices (1998 Revision, effective January 1, 1999), International Chamber of Commerce Publication No. 590.
ISP 98 shall have the meaning provided in Section 3.8.
Examples of ISP 98 in a sentence
Unless otherwise expressly agreed by the applicable Issuing Bank, the Borrower and the Applicable Account Party when a Letter of Credit is issued, the rules of the ISP 98 shall apply and shall be stated therein to apply to each Letter of Credit.
More Definitions of ISP 98
ISP 98 as defined in Section 3.4(g).
ISP 98 means the International Standby Practices, referred to as ISP 98 and published by the International Chamber of Commerce, as amended and restated from time to time.
ISP 98 means the International Standby Practices, International Chamber of Commerce ("ICC") Publication No. 590, or any subsequent revisions or restatement thereof which may be adopted by the ICC and in use by the Bank; (J) "Jurisdiction" means the state in the United States where the Bank's branch which maintains Applicant's major deposits is located, or if Applicant does not have deposits with the Bank, the Bank's office in a state of the United States where Applicant's major banking relationship with it is conducted; if neither of the foregoing apply, then jurisdiction shall mean New York City, New York; (K) "Obligations" means all obligations of any, some or all of parties comprising the Applicant to Bank now or hereafter existing under this Agreement or under any other document entered into by Applicant in connection with this Agreement; (L) "Prime Rate" means that changing rate of interest announced publicly from time to time by Bank as its Prime Rate; (M) "Property" means all present and future "Collateral" as that term is defined in the Security Agreement of even date from Applicant to Bank (including, but not limited to, deposit accounts and certificates of deposit), together with all cash and non cash proceeds and products thereof, and all Applicant's rights thereto and all documents relative thereto; and (N) "UCP" means the Uniform Customs and Practice for Documentary Credits, ICC Publication Number 500, or any subsequent revision or restatement thereof adopted by the ICC and in use by the Bank. Terms not defined herein will, if defined therein, have the same meaning as given in the Uniform Commercial Code as amended from time to time.
ISP 98 means, with respect to any Letter of Credit, the “International Standby Practices 1998” published by the Institute of International Banking Law & Practice, Inc. (or such later version thereof as may be acceptable to Issuing Bank and in effect at the time of issuance of such Letter of Credit). “Issuance Notice” means an Issuance Notice substantially in the form of Exhibit L. “Issuing Bank” means ▇▇▇▇▇ Fargo. Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of Issuing Bank, in which case the term “Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate (it being agreed that Issuing Bank shall, or shall cause such Affiliate to, comply with the requirements of Section 2.4 with respect to such Letters of Credit. “Joint Venture” means a joint venture, partnership or other similar arrangement, whether in corporate, partnership or other legal form; provided that, in no event shall any corporate subsidiary of any Person be considered to be a Joint Venture to which such Person is a party. “JPMCB Revolving Credit Facility” means that certain revolving credit facility established on the Amendment No. 2 Effective Date pursuant to that certain Credit Agreement, dated as of June 1, 2026, by and among the Borrower, the guarantors party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A. as administrative agent, as may be amended, amended and restated, supplemented or modified in a manner not prohibited by this Agreement and the Pari Passu Intercreditor Agreement. “Judgment Currency” has the meaning set forth in Section 10.19(b). “Junior Indebtedness” means any Indebtedness of the Borrower or any Restricted Subsidiary that is (x) secured by a Lien that is junior in priority to the Lien securing the Obligations, (y) by its terms subordinated in right of payment to all or any portion of the Obligations or (z) unsecured.
ISP 98 means the International Standby Practices 1998, International Chamber of Commerce Publication No. 590.
ISP 98 has the meaning given to such term in Section 11.8 [Governing Law]. IRH Provider has the meaning assigned to such term in Section 9.2.5.2 [Collateral Sharing].
ISP 98 means the International Standby Practices which applies to standby letters of credit, prepared by the Institute of International Banking Law and Practice, as amended from time to time.