NAME:
TITLE:
ANNEX IV
STANDBY LETTER OF CREDIT NUMBER
NOTICE OF REDUCTION
DATE:
TO: [ISSUING BANK NAME]
[ISSUING BANK ADDRESS]
RE: STANDBY LETTER OF CREDIT NO.
GENTLEMEN:
REFERENCE IS MADE TO THAT CERTAIN STANDBY LETTER OF CREDIT NO.
(THE "LETTER OF CREDIT") ISSUED BY YOU IN FAVOR OF ILVA
S.P.A. ("BENEFICIARY").
IN ACCORDANCE WITH THAT CERTAIN PURCHASE ORDER, DATED AS OF [
, 2006], BY AND BETWEEN BENEFICIARY AND CHENIERE CREOLE
TRAIL PIPELINE COMPANY, L.P. ("APPLICANT"), THE UNDERSIGNED, AN OFFICER OF
BENEFICIARY, DOES HEREBY PROVIDE NOTICE THAT:
1. THE CUMULATIVE INVOICES PAID BY THE APPLICANT TO BENEFICIARY UNDER THE
PURCHASE ORDER EXCEED THE STATED AMOUNT OF THE LETTER OF CREDIT, AND THEREFORE
EACH SUBSEQUENT PAYMENT BY APPLICANT UNDER THE PURCHASE ORDER REDUCES THE STATED
AMOUNT BY THE EQUIVALENT AMOUNT OF THE SUBSEQUENT PAYMENT.
2. ATTACHED HERETO IS A COPY OF AN ELECTRONIC FUNDS TRANSFER TRANSMITTAL
EVIDENCING THE AMOUNT OF THE RELEVANT SUBSEQUENT PAYMENT.
3. THEREFORE, YOU ARE REQUESTED TO IMMEDIATELY REDUCE THE STATED AMOUNT OF THE
LETTER OF CREDIT BY [
U.S. DOLLARS
(U.S.$
)] SO THAT THE STATED AMOUNT WILL THEREAFTER BE
[
U.S. DOLLARS (U.S.$
)].
IN WITNESS WHEREOF, THE UNDERSIGNED HAS EXECUTED AND DELIVERED THIS NOTICE AS OF
THIS
DAY OF
, 20
.
ILVA S.P.A. BY:
NAME:
TITLE: