SENT BY FACSIMILE
AS DESCRIBED BELOW)
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DRAFTS PRESENTED WITH OUR ____________ OFFICE, AS LISTED HEREABOVE, SHALL BE
PAYABLE IN IMMEDIATELY AVAILABLE FUNDS, WITH PAYMENT TO TAKE PLACE PRIOR TO THE
END OF THE NEXT BANKING DAY IN MASSACHUSETTS FOLLOWING THE SUBMISSION DATE.
PRESENTATION WILL ALSO BE DEEMED MADE UPON OR RECEIPT OF YOUR TELECOPIER
TRANSMISSION TO US AT FAC NO. (XXX) XXX-XXXX OF A FACSIMILE OF THE APPROPRIATE
SIGHT DRAFT AND DRAWINGS CERTIFICATE PROPERLY COMPLETED AND SIGNED, TOGETHER
WITH:
(I) YOUR STATEMENT THAT YOU HAVE SENT TO US BY NATIONALLY RECOGNIZED
OVERNIGHT COURIER (FREIGHT PREPAID), FOR RECEIPT TO OUR OFFICE LOCATED AT
____________________________ ON THE FOLLOWING BUSINESS DAY, THE SIGNED ORIGINALS
OF SUCH DOCUMENTS AND (II) YOUR TELEPHONE ADVICE TO US AT (XXX) XXX-XXXX (OR
SUCH OTHER NUMBER AS WE SHALL SPECIFY TO YOU IN WRITING) OF YOUR SENDING OF THE
ABOVE‐DESCRIBED TELECOPIER TRANSMISSION.
IN THE EVENT OF ANY DISCREPANCY ON
SUCH ORIGINALS, THE DOCUMENTS SENT BY TELECOPIER TRANSMISSION UPON WHICH PAYMENT
WAS MADE, SHALL BE CONSIDERED AS VALID.
DRAFTS SO PRESENTED VIA TELECOPIER TRANSMISSION ("FAX") SHALL BE PAYABLE IN
IMMEDIATELY AVAILABLE FUNDS ON THE SAME BUSINESS DAY OF SUCH SUBMISSION PROVIDED
THAT SUCH SUBMISSION IS MADE PRIOR TO 12:00 NOON ON ANY BUSINESS DAY, AND IF
SUCH SUBMISSION IS MADE BETWEEN NOON AND 5:00 P.M. ON ANY BUSINESS DAY PAYMENT
SHALL BE NO LATER THAN THE NEXT BUSINESS DAY FOLLOWING SUCH SUBMISSION.
THIS LETTER OF CREDIT EXPIRES AT OUR CLOSE OF BUSINESS ON THE EXPIRATION DATE AS
STATED ABOVE, OR ANY AUTOMATICALLY EXTENDED EXPIRATION DATE AS HEREINAFTER SET
FORTH.
DRAFTS MUST BE ACCOMPANIED BY:
THE ORIGINAL OF THIS LETTER OF CREDIT AND AMENDMENTS THERETO, IF ANY.
IN THE
EVENT OF A PARTIAL DRAWING WE WILL ENDORSE THE AMOUNT ON THE CREDIT AND RETURN
THE ORIGINAL TO YOU VIA OVERNIGHT COURIER SERVICE.
A STATEMENT (SUCH STATEMENT, THE "DRAWING CERTIFICATE") PURPORTEDLY SIGNED BY AN
AUTHORIZED REPRESENTATIVE OF YOU (OR YOUR TRANSFEREE), IN THE FORM OF ANNEX B‐1
OR B‐2 HERETO, AS APPROPRIATE.
MULTIPLE AND PARTIAL DRAWS ARE PERMITTED.
THIS LETTER OF CREDIT SHALL INITIALLY EXPIRE ON ___________________, BUT SUCH
EXPIRATION DATE SHALL BE AUTOMATICALLY EXTENDED FOR SUCCESSIVE PERIODS OF ONE
(1) YEAR ON THE PRESENT EXPIRATION DATE AND EACH SUCCESSIVE EXPIRATION DATE
UNLESS AT LEAST NINETY (90) DAYS BEFORE THE THEN CURRENT EXPIRATION DATE WE
NOTIFY YOU (OR YOUR TRANSFEREE) IN WRITING BY OVERNIGHT COURIER (NATIONALLY
RECOGNIZED AND PROVIDING EVIDENCE OF DELIVERY) OR CERTIFIED/REGISTERED MAIL,
RETURN RECEIPT REQUESTED THAT THIS LETTER OF CREDIT WILL NOT BE EXTENDED BEYOND
THE THEN CURRENT EXPIRATION DATE.
IN THE EVENT YOU (OR YOUR TRANSFEREE) ARE SO
NOTIFIED, ANY UNUSED PORTION OF THE LETTER OF CREDIT SHALL BE AVAILABLE UPON
PRESENTATION, PRIOR
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TO THE THEN CURRENT EXPIRATION DATE, OF A SIGHT DRAFT AND A DRAWING CERTIFICATE,
IN THE FORM OF ANNEX B‐2 HERETO, PURPORTEDLY SIGNED BY AN AUTHORIZED
REPRESENTATIVE OF YOU (OR YOUR TRANSFEREE).
WE HEREBY ENGAGE WITH YOU TO HONOR DRAFTS DRAWN UNDER AND IN COMPLIANCE WITH THE
TERMS