3 If a credit is transferred to more than one second beneficiary, refusal of an amendment by one or more second beneficiaries does not invalidate the acceptance by the other second beneficiaries.

Note: this is a difficult situation for advising or confirming banks, who may find themselves operating two completely different credits: one for the accepting beneficiaries and another for those who refused amendments.

This is another example of why banks often decline to operate transferable credits.