Unless otherwise agreed by the Issuing Bank thereof, each Letter of Credit shall be subject to, in the case of Commercial Letters of Credit, the Uniform Customs, in the case of Standby Letters of Credit, the International Standby Practices 1998 published by the International Chamber of Commerce Publication No. (or such later version thereof) and, for all Letters of Credit, to the extent not consistent or inconsistent with the aforementioned rules, the laws of the State of New York.
Applicability of . Unless otherwise expressly agreed by the Issuing Bank thereof, eachapplicable LC Issuer and the applicable LC Obligor, when a Letter of Credit is issued, # the rules of 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 be subject to, in the case of Commercial Lettersapply to each Standby Letter of Credit, and # the rules of the Uniform Customs, in the case of Standby Letters of Credit, the International Standby Practices 1998Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce Publication No. (or such later version thereof) and, for all Lettersat the time of Credit,issuance (including the International Chamber of Commerce’s decision published by the Commission on Banking Technique and Practice on regarding the European single currency (euro)) shall apply to the extent not consistent or inconsistent with the aforementioned rules, the lawseach Commercial Letter of the State of New York.Credit.
Unless otherwise expressly agreed by the Issuing Bank thereof,and the Borrower when a Letter of Credit is issued and subject to applicable laws, # each standby Letter of Credit shall be subject to, ingoverned by the caseInternational Standby Practices 1998 (ISP98) (or such later revision as may be published by the Institute of Commercial LettersInternational Banking Law & Practice on any date any Letter of Credit,Credit may be issued), # each documentary Letter of Credit shall be governed by the Uniform Customs, in the case of Standby Letters of Credit, the International StandbyCustoms and Practices 1998 published by thefor Documentary Credits (2007 Revision), International Chamber of Commerce Publication No. (or such later version thereof) and,revision as may be published by the International Chamber of Commerce on any date any Letter of Credit may be issued) and # the Borrower shall specify the foregoing in each letter of credit application submitted for all Lettersthe issuance of Credit, to the extent not consistent or inconsistent with the aforementioned rules, the lawsa Letter of the State of New York.Credit.
Unless otherwise expressly agreed by the applicable Issuing Bank thereof,and the Borrower when a Letter of Credit is issued and subject to applicable laws, # each standby Letter of Credit shall be subject to, ingoverned by the case“International Standby Practices 1998” (ISP98) (or such later revision as may be published by the Institute of Commercial LettersInternational Banking Law & Practice on any date any Letter of Credit,Credit may be issued), # each documentary Letter of Credit shall be governed by the Uniform Customs, in the caseCustoms and Practices for Documentary Credits (2007 Revision), International Chamber of Standby Letters of Credit, the International Standby Practices 1998Commerce Publication No. (or such later revision as may be published by the International Chamber of Commerce Publication No. (or such later version thereof) and,on any date any Letter of Credit may be issued) and # the Borrower shall specify the foregoing in each letter of credit application submitted for all Lettersthe issuance of Credit, to the extent not consistent or inconsistent with the aforementioned rules, the lawsa Letter of the State of New York.Credit.
Unless otherwise agreed by the Issuing Bank thereof, each#Each Letter of Credit shall be subject to, in the case of Commercial Letters of Credit,to the Uniform Customs, in the case of Standby Letters of Credit, theCustoms or International Standby Practices 1998 published by(ISP98) or Uniform Customs & Practice for Documentary Credits (UCP600), as the International Chamber of Commerce Publication No. (or such later version thereof)case may be, and, for all Letters of Credit, to the extent not consistent or inconsistent with the aforementioned rules,therewith, the laws of theany State of New York.the United States or, if acceptable to the Required Banks and the relevant account party, the jurisdiction of the Issuing Office at which such Letter of Credit is issued.
Unless otherwise agreed bymonths after such Letter of Credit’s date of issuance and in no event later than the Issuing Bank thereof, eachlast day of the Term. Each standby Letter of Credit shall be subject to, in the case of Commercial Letters of Credit,either to the Uniform Customs, in the case of Standby Letters of Credit, the International Standby Practices 1998Customs and Practice for Documentary Credits as most recently published by the International Chamber of Commerce at the time a Letter of Credit is issued (the “UCP”) or the International Standby Practices (International Chamber of Commerce Publication No. (or such later version thereof) and, for all LettersNumber ), or any subsequent revision thereof at the time a standby Letter of Credit,Credit is issued, as determined by Issuer, and each trade Letter of Credit shall be subject to the extent not consistent or inconsistent with the aforementioned rules, the laws of the State of New York.UCP.
Applicability of . Unless otherwise expressly agreed by the Issuing Bank thereof, eachapplicable L/C Issuer and the Borrowers, when a Letter of Credit shall be subject to, inis issued (including any such agreement applicable to an Existing Letter of Credit), the caserules of Commercial Letters of Credit, the Uniform Customs, in the case of Standby Letters of Credit, the International“International Standby Practices 19981998” published by the Institute of International Chamber of Commerce Publication No. Banking Law & Practice (or such later version thereof) and, for all Lettersthereof as may be in effect at the time of Credit,issuance) shall be stated therein to the extent not consistent or inconsistent with the aforementioned rules, the lawsapply to each Letter of the State of New York.Credit.
Applicability of and UCP. Unless otherwise expressly agreed by the Issuing Bank thereof, each and the Borrowers when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), # the rules of 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) (the “”) shall be subject to, in the case of Commercial Lettersapply to each standby Letter of Credit, and # the rules of the Uniform Customs, in the case of Standby Letters of Credit, the International Standby Practices 1998Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce Publication No. (or such later version thereof) and, for all Letters(the “ICC”) at the time of Credit,issuance (including the ICC decision published by the Commission on Banking Technique and Practice on regarding the European single currency (euro)) (the “UCP”) shall apply to the extent not consistent or inconsistent with the aforementioned rules, the lawseach commercial Letter of the State of New York.Credit.
Applicability of and UCP. Unless otherwise expressly agreed by the Issuing Bank thereof, eachapplicable L/C Issuer and the Borrower when a Letter of Credit shallis issued, # either # the rules of the “International Standby Practices 1998” published by the Institute of International Banking Law & Practice (or such later version thereof as may be subject to, in effect at the casetime of Commercial Lettersissuance) or # the rules of Credit, the Uniform Customs, in the case of Standby Letters of Credit,Customs and Practice for Documentary Credits, as most recently published by the International Standby Practices 1998Chamber of Commerce, at the election of the applicable L/C Issuer, shall apply to each standby Letter of Credit and # the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce Publication No. (or such later version thereof) and, for all Lettersat the time of Credit,issuance, shall apply to the extent not consistent or inconsistent with the aforementioned rules, the lawseach commercial Letter of the State of New York.Credit.
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