LETTER OF CREDIT THAT IT SHALL BE DEEMED
AUTOMATICALLY EXTENDED WITHOUT AMENDMENT FOR ADDITIONAL PERIODS OF ONE
YEAR FROM THE PRESENT OR ANY FUTURE EXPIRATION DATE, UNLESS AT LEAST SIXTY
(60) DAYS PRIOR TO THIS OR ANY FUTURE EXPIRATION DATE WE SHALL SEND NOTICE
IN WRITING TO BENEFICIARY AT THE ADDRESS SET FORTH BELOW THAT WE ELECT NOT
TO CONSIDER THIS LETTER OF CREDIT EXTENDED FOR ANY SUCH ADDITIONAL PERIOD.
THIS LETTER OF CREDIT IS TRANSFERABLE, BUT ONLY IN ITS ENTIRETY, AND MAY
BE SUCCESSIVELY TRANSFERRED. TRANSFER OF THIS LETTER OF CREDIT SHALL BE
EFFECTED BY US UPON YOUR SUBMISSION OF THIS ORIGINAL LETTER OF CREDIT,
INCLUDING ALL AMENDMENTS, IF ANY, ACCOMPANIED BY A TRANSFER REQUEST FORM
IN THE FORM ATTACHED HERETO AS EXHIBIT C DULY COMPLETED AND SIGNED, WITH
Schedule F -3
EXHIBIT 10.57
THE SIGNATURE THEREON AUTHENTICATED BY YOUR BANK.
ALL BANKING CHARGES UNDER THIS LETTER OF CREDIT ARE FOR THE ACCOUNT OF THE
APPLICANT, INCLUDING, WITHOUT LIMITATION, TRANSFER CHARGES. THE FAILURE
OF APPLICANT TO PAY ANY SUCH FEES OR CHARGES SHALL NOT AFFECT THIS LETTER
OF CREDIT OR ANY TRANSFER THEREOF NOR RELIEVE US OF ANY OF OUR OBLIGATIONS
HEREUNDER.
WE ENGAGE WITH YOU THAT DOCUMENTS PRESENTED UNDER AND IN CONFORMITY WITH
THE TERMS AND CONDITIONS OF THIS LETTER OF CREDIT WILL BE DULY HONORED ON
PRESENTATION IF PRESENTED ON OR BEFORE THE EXPIRATION AT OUR COUNTERS AT
131 SOUTH DEARBORN STREET, 5TH FLOOR, MAIL CODE IL1-0236, ATTN:
STANDBYLETTER OF CREDIT UNIT, CHICAGO, IL 60603-5506. THE ORIGINAL LETTER
OF CREDIT MUST ACCOMPANY THE DOCUMENTS REQUIRED UNDER THIS LETTER OF
CREDIT FOR ENDORSEMENT.
DRAWINGS PRESENTED BY TELEFACSIMILE ("FAX") TO FAX NUMBER 312-233-2264, OR
ALTERNATELY TO FAX NUMBER 312-233-2266 ARE ACCEPTABLE, UNDER TELEPHONE
PRE-ADVICE TO 312-385-7236, OR ALTERNATELY TO 1-800-634-1969, OPTION 1;
PROVIDED THAT SUCH FAX PRESENTATION IS RECEIVED ON OR BEFORE THE EXPIRY
DATE ON THIS INSTRUMENT IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF
THIS LETTER OF CREDIT, IT BEING UNDERSTOOD THAT ANY SUCH FAX PRESENTATION
SHALL BE CONSIDERED THE SOLE OPERATIVE INSTRUMENT OF DRAWING, NOT
CONTINGENT UPON PRESENTATION OF THE ORIGINAL LETTER OF CREDIT OR ORIGINAL
DOCUMENTS WITH RESPECT THERETO.
THIS LETTER OF CREDIT IS SUBJECT TO THE INTERNATIONAL STANDBY PRACTICES
1998, INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO. 590 (''ISP''). AS
Schedule F -4
EXHIBIT 10.57
TO MATTERS NOT GOVERNED BY THE ISP, THIS LETTER OF CREDIT SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK.
PLEASE ADDRESS ALL CORRESPONDENCE REGARDING THIS LETTER OF CREDIT TO THE
ATTENTION OF THE STANDBY LETTER OF CREDIT UNIT, 131 SOUTH DEARBORN, 5TH
FLOOR, MAIL CODE IL1-0236, CHICAGO, IL 60603-5506, INCLUDING THE LETTER OF
CREDIT NUMBER MENTIONED ABOVE. SWIFT MESSAGES AND INQUIRIES SHOULD BE
SENT MAKING SPECIFIC REFERENCE TO CHASUS33 AND MUST INCLUDE THE LETTER OF
CREDIT NUMBER MENTIONED ABOVE. FOR TELEPHONE ASSISTANCE, PLEASE CONTACT
THE STANDBY CLIENT SERVICE UNIT AT 1-800-634-1969, SELECT OPTION 1, OR
1-312-385-7910, AND HAVE THIS LETTER OF CREDIT NUMBER AVAILABLE.
ALL NOTICES OR OTHER CORRESPONDENCE