Example ContractsClausesapplicability of ispVariants
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Unless otherwise expressly agreed by the Issuing Lender and the Borrower when a Letter of Credit is issued, # the rules of the ISP shall apply to each standby Letter of Credit, and # the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Issuing Lender shall not be responsible to the Borrower for, and the Issuing Lender’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Issuing Lender 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 applicable law or any order of a jurisdiction where the Issuing Lender or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the International Chamber of Commerce 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 and UCP; Limitation of Liability. Unless otherwise expressly agreed by the Issuing Lender and the Borrower when a Letter of Credit is issued, # the rules of the ISP shall apply to each standby Letter of Credit, and # the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Issuing Lender shall not be responsible to the Borrower for, and the Issuing Lender’Lender’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Issuing Lender 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 applicable law or any order of a jurisdiction where the Issuing Lender or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the International Chamber of CommerceICC 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 and UCP. Unless otherwise expressly agreed by the Issuing LenderL/C Issuer and the Borrower when a Letter of Credit is issued,issued by it, # the rules of the ISP shall apply to each standby Letter of Credit, and # the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Issuing LenderL/C Issuer shall not be responsible to the Borrower for, and the Issuing Lender’L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Issuing LenderL/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 applicable lawLaw or any order of a jurisdiction where the Issuing LenderL/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the International Chamber of CommerceICC 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 and UCP; Limitation of Liability. Unless otherwise expressly agreed by the Issuing LenderL/C Issuer and the BorrowerBorrowers when a Letter of Credit is issued,issued (including any such agreement applicable to an Existing Letter of Credit), # the rules of the ISP shall apply to each standby Letter of Credit, and # the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Issuing LenderL/C Issuer shall not be responsible to theany Borrower for, and the Issuing Lender’L/C Issuer's rights and remedies against theany such Borrower shall not be impaired by, any action or inaction of the Issuing LenderL/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 applicable law or any order of a jurisdiction where the Issuing LenderL/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the International Chamber of CommerceICC 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 and UCP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing LenderBank and the Borrower when a Letter of Credit is issued,issued (including any such agreement applicable to an Existing Letter of Credit), # the rules of the ISP shall apply to each standby Letter of Credit, and # the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, theno Issuing LenderBank shall not be responsible to the Borrower for, and theno Issuing Lender’Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of theany Issuing LenderBank 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 applicable lawLaw or any order of a jurisdiction where theany Issuing LenderBank or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the International Chamber of CommerceICC 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 and UCP; Limitation of Liability. Unless otherwise expressly agreed by the Issuing Lenderapplicable L/C Issuer and the applicable Borrower when a Letter of Credit is issued,issued (including any such agreement applicable to an Existing Letter of Credit), # the rules of the ISP shall apply to each standby Letter of Credit, and # the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Issuing Lenderno L/C Issuer shall not be responsible to the BorrowerBorrowers for, and the Issuing Lender’no L/C Issuer’s rights and remedies against the BorrowerBorrowers shall not be impaired by, any action or inaction of the Issuing Lenderany 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 applicable lawLaw or any order of a jurisdiction where the Issuing Lenderany L/C Issuer or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the International Chamber of CommerceICC Banking Commission, the Bankers Association for Finance and Trade - International-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 and UCP; Limitation of Liability. Unless otherwise expressly agreed by the applicable Issuing LenderBank and the Borrower when a Letter of Credit is issued, # the rules of the ISP shall apply to each standby Letter of Credit, and # the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, theno Issuing LenderBank shall not be responsible to the Borrower for, and theno Issuing Lender’Bank’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of thesuch Issuing LenderBank 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 applicable law or any order of a jurisdiction where thesuch Issuing LenderBank or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the International Chamber of CommerceICC 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 and UCP; Limitation of Liability. Unless otherwise expressly agreed by the Issuing LenderBank and the BorrowerCompany when a Letter of Credit is issued, # the rules of the ISP shall apply to each standby Letter of Credit, and # the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Issuing LenderBank shall not be responsible to the BorrowerCompany for, and the Issuing Lender’Bank’s rights and remedies against the BorrowerCompany shall not be impaired by, any action or inaction of the Issuing LenderBank 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 applicable law or any order of a jurisdiction where the Issuing LenderBank or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the International Chamber of CommerceICC 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.

Unless otherwise expressly agreed by the Issuing LenderBank and the BorrowerBorrowers when a Letter of Credit is issued, # the rules of the ISP shall apply to each standby Letter of Credit, and # the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Issuing Lender shall not be responsible to the Borrower for, and the Issuing Lender’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Issuing Lender 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 applicable law or any order of a jurisdiction where the Issuing Lender or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the International Chamber of Commerce 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.

Unless otherwise expressly agreed by the Issuing LenderBank and the BorrowerBorrowers when a Letter of Credit is issued, # the rules of the ISP and the UCP shall apply to each standby Letter of Credit, and # the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the Issuing Lender shall not be responsible to the Borrower for, and the Issuing Lender’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of the Issuing Lender 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 applicable law or any order of a jurisdiction where the Issuing Lender or the beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the International Chamber of Commerce 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.

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