Obligation)
Tier II
1/1/10 to 5/31/10
2.5%
0.0360%
4.2%
6/1/10 to 12/31/10
3.0%
0.0609%
6.2%
2008 and 2009 Solicitations - Residential and Small C&I
Compliance Period
Tier I
PV(included in
Tier I Obligation)
Tier II
1/1/10 to 5/31/10
2.5%
0.0000%
4.2%
6/1/10 to 12/31/10
3.0%
0.0000%
6.2%
2009 Solicitations - Large C&I
Compliance Period
Tier I
PV(included in
Tier I Obligation)
Tier II
1/1/10 to 5/31/10
2.5%
0.0120%
4.2%
6/1/10 to 12/31/10
3.0%
0.0203%
6.2%
The percentages set forth above are those applicable for the first RFP and may
be revised for future RFPs to reflect changes in law or other applicable
regulatory requirements.
EXHIBIT C
PERFORMANCE ASSURANCE EVERGREEN LETTER OF CREDIT
{TO BE ISSUED ON THE LETTERHEAD OF THE ISSUING BANK}
IRREVOCABLE LETTER OF CREDIT NO.
ISSUE
DATE_____________________________
EXPIRY
DATE: ________
APPLICANT
[ NAME]
[ ADDRESS]
BENEFICIARY
[ NAME ]
[ADDRESS]
CURRENCY AMOUNT USD
*********$
WE HEREBY ISSUE IN YOUR FAVOR OUR IRREVOCABLE LETTER OF CREDIT NO:________ FOR
THE ACCOUNT OF _________ (APPLICANT) FOR AN AMOUNT OR AMOUNTS NOT TO EXCEED IN
THE AGGREGATE US DOLLARS _________ AVAILABLE BY YOUR DRAFT(S) AT SIGHT ON THE
BANK OF ________ ("ISSUER") ________ (ADDRESS), EFFECTIVE________ AND EXPIRING
AT OUR COUNTERS ON OR ANY AUTOMATICALLY EXTENDED EXPIRY DATE, AS PROVIDED
HEREIN. THIS LETTER OF CREDIT IS AVAILABLE IN ONE OR MORE DRAFTS UP TO THE
AGGREGATE AMOUNT SET FORTH HEREIN.
THIS LETTER OF CREDIT IS PRESENTABLE AND PAYABLE AT OUR COUNTERS AND WE HEREBY
ENGAGE WITH YOU THAT DRAFTS DRAWN UNDER AND IN COMPLIANCE WITH THE TERMS OF THIS
LETTER OF CREDIT WILL BE HONORED ON PRESENTATION IF ACCOMPANIED BY THE REQUIRED
DOCUMENTS PURSUANT TO THE TERMS OF THIS LETTER OF CREDIT.
THE BELOW MENTIONED DOCUMENT(S) MUST BE PRESENTED ON OR BEFORE THE EXPIRY DATE
OF THIS INSTRUMENT IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THIS LETTER OF
CREDIT.
1. YOUR SIGNED AND DATED STATEMENT, READING AS FOLLOWS:
"THE AMOUNT FOR THIS DRAWING, USD (INSERT AMOUNT), BEING MADE UNDER THE BANK
OF________ (BANK) LETTER OF CREDIT NUMBER (INSERT LETTER OF CREDIT REFERENCE
NUMBER), REPRESENTS AN AMOUNT DUE AND PAYABLE TO BENEFICIARY FROM APPLICANT FOR
PERFORMANCE ASSURANCE RELATED TO THE FULL REQUIREMENTS SERVICE AGREEMENT(S)
DATED __________
BETWEEN
__________
AND_________."
2. THIS ORIGINAL LETTER OF CREDIT AND ANY AMENDMENT(S).
IF PRESENTATION OF ANY DRAWING IS MADE ON A BUSINESS DAY (AS HEREIN DEFINED) AND
SUCH PRESENTATION IS MADE ON OR BEFORE 11:00 A.M. NEW YORK TIME, ISSUER SHALL
SATISFY SUCH DRAWING REQUEST ON THE NEXT BUSINESS DAY. IF THE DRAWING IS
RECEIVED AFTER 11:00 A.M. NEW YORK TIME, ISSUER WILL SATISFY SUCH DRAWING
REQUEST ON THE SECOND FOLLOWING BUSINESS DAY.
IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT WILL BE AUTOMATICALLY
EXTENDED WITHOUT AMENDMENT FOR ONE YEAR FROM THE EXPIRATION DATE HEREOF, OR ANY
FUTURE EXPIRATION DATE, UNLESS AT LEAST 90 DAYS PRIOR TO ANY EXPIRATION DATE WE
NOTIFY YOU AT THE ABOVE ADDRESS BY REGISTERED MAIL OR HAND DELIVERED COURIER
THAT WE ELECT NOT TO CONSIDER THIS LETTER OF