IN CONFORMITY WITH APPLICABLE UNITED STATES
OR FOREIGN LAW OR LETTER OF CREDIT PRACTICES; OR
(I)
ANY OTHER CIRCUMSTANCE OR HAPPENING WHATSOEVER, WHETHER OR NOT
SIMILAR TO ANY OF THE FOREGOING, INCLUDING ANY OTHER CIRCUMSTANCE THAT MIGHT
OTHERWISE CONSTITUTE A DEFENSE AVAILABLE TO, OR A DISCHARGE OF, THE BORROWER.
(II)
WITHOUT LIMITING ANY OTHER PROVISION OF THIS AGREEMENT, THE L/C
ISSUER AND ANY OF ITS CORRESPONDENTS:
(A)
MAY RELY UPON ANY ORAL, TELEPHONIC, TELEGRAPHIC, FACSIMILE,
ELECTRONIC, WRITTEN OR OTHER COMMUNICATION BELIEVED IN GOOD FAITH TO HAVE BEEN
AUTHORIZED BY THE BORROWER, WHETHER OR NOT GIVEN OR SIGNED BY AN AUTHORIZED
PERSON;
(B)
SHALL NOT BE RESPONSIBLE FOR ERRORS, OMISSIONS, INTERRUPTIONS OR
DELAYS IN TRANSMISSION OR DELIVERY OF ANY MESSAGE, ADVICE OR DOCUMENT IN
CONNECTION WITH ANY LETTER OF CREDIT, WHETHER TRANSMITTED BY COURIER, MAIL,
TELEX, ANY OTHER TELECOMMUNICATION, OR OTHERWISE (WHETHER OR NOT THEY BE IN
CIPHER), OR FOR ERRORS IN INTERPRETATION OF TECHNICAL TERMS OR IN TRANSLATION
(AND THE L/C ISSUER AND ITS CORRESPONDENTS MAY TRANSMIT LETTER OF CREDIT TERMS
WITHOUT TRANSLATING THEM);
(C)
SHALL NOT BE RESPONSIBLE FOR ANY ACTS OR OMISSIONS BY OR THE
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SOLVENCY OF THE BENEFICIARY OR ANY OTHER PERSON HAVING ANY ROLE IN ANY
TRANSACTION UNDERLYING ANY LETTER OF CREDIT;
(D)
MAY ACCEPT OR PAY AS COMPLYING WITH THE TERMS AND CONDITIONS OF ANY
LETTER OF CREDIT ANY DOCUMENT REASONABLY APPEARING ON ITS FACE (1) SUBSTANTIALLY
TO COMPLY WITH THE TERMS AND CONDITIONS OF THE LETTER OF CREDIT OR (2) TO HAVE
BEEN SIGNED, PRESENTED OR ISSUED AFTER A CHANGE OF NAME OF THE BENEFICIARY;
(E)
MAY DISREGARD ANY DISCREPANCIES THAT DO NOT REDUCE THE VALUE OF
THE BENEFICIARY'S PERFORMANCE TO THE BORROWER IN ANY TRANSACTION UNDERLYING ANY
LETTER OF CREDIT;
(F)
MAY ACCEPT AS A DRAFT ANY WRITTEN OR ELECTRONIC DEMAND OR OTHER
REQUEST FOR PAYMENT UNDER ANY LETTER OF CREDIT, EVEN IF SUCH DEMAND OR OTHER
REQUEST IS NOT IN THE FORM OF A NEGOTIABLE DRAFT;
(G)
SHALL NOT BE RESPONSIBLE FOR THE EFFECTIVENESS OR SUITABILITY OF
ANY LETTER OF CREDIT FOR THE BORROWER'S PURPOSE, OR BE REGARDED AS THE DRAFTER
OF ANY LETTER OF CREDIT REGARDLESS OF ANY ASSISTANCE THAT THE L/C ISSUER MAY, IN
ITS DISCRETION, PROVIDE TO THE BORROWER IN PREPARING THE TEXT OF ANY LETTER OF
CREDIT OR ANY AMENDMENTS THERETO;
(H)
SHALL NOT BE LIABLE TO THE BORROWER FOR ANY CONSEQUENTIAL OR
PUNITIVE DAMAGES;
(I)
MAY ASSERT OR WAIVE APPLICATION OF UCP ARTICLES 17 (FORCE
MAJEURE) AND 45 (HOURS OF PRESENTATION) AND ALL OTHER UCP ARTICLES PRIMARILY
BENEFITING BANK ISSUERS;
(J)
MAY HONOR A PREVIOUSLY DISHONORED PRESENTATION UNDER ANY LETTER
OF CREDIT, WHETHER PURSUANT TO COURT ORDER, TO SETTLE OR COMPROMISE ANY CLAIM
THAT IT WRONGFULLY DISHONORED, OR OTHERWISE, AND SHALL BE ENTITLED TO
REIMBURSEMENT TO THE SAME EXTENT AS IF THE L/C ISSUER HAD INITIALLY HONORED ANY
LETTER OF CREDIT PLUS REIMBURSEMENT OF ANY INTEREST PAID BY IT;
(K)
MAY HONOR, UPON RECEIPT, ANY DRAWING THAT IS PAYABLE UPON
PRESENTATION OF A STATEMENT ADVISING