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S-0974/DS 4/05
WACHOVIA
CLEAN, IRREVOCABLE STANDBY LETTER OF CREDIT
NUMBER SM229862W
LETTER OF CREDIT AMOUNT
ISSUE DATE
EXPIRY DATE
USD
35,851,525.00
01/31/08
12/31/08
BENEFICIARY:
APPLICANT:
DEPARTMENT OF COMMUNITY HEALTH
WELLCARE OF GEORGIA, INC.
2 PEACHTREE ST. NW
8735 HENDERSON ROAD, REN 1
ATLANTA, GA 30303 - 3159
TAMPA, FL 33634
WE HEREBY OPEN OUR CLEAN, IRREVOCABLE STANBY LETTER OF CREDIT IN YOUR FAVOR FOR
THE ACCOUNT OF THE ABOVE MENTIONED APPLICANT IN THE AGGREGATE AMOUNT OF
USD35,851,525.00 (USD THIRTY FIVE MILLION EIGHT HUNDRED FIFTY ONE THOUSAND FIVE
HUNDRED TWENTY FIVE AND 00/100'S) AVAILABLE BY PAYMENT AT OUR COUNTERS UPON
PRESENTATION OF THE FOLLOWING:
1.
A DRAFT DRAWN AT SIGHT ON WACHOVIA BANK, NATIONAL ASSOCIATION AND DULY
ENDORSED ON ITS REVERSE SIDE THEREOF BY THE BENEFICIARY, SPECIFICALLY
REFERENCING THIS LETTER OF CREDIT NUMBER.
2.
THE ORIGINAL LETTER OF CREDIT PLUS ANY AND ALL AMENDMENTS ATTACHED
THERETO.
IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT SHALL BE DEEMED AUTOMATICALLY
EXTENDED WITHOUT WRITTEN AMENDMENT FOR ONE YEAR PERIODS FROM THE PRESENT OR ANY
FUTURE EXPIRY DATE UNLESS AT LEAST THIRTY (30) DAYS PRIOR TO SUCH EXPIRATION
DATE, WE SEND THE BENEFICIARY NOTICE AT THE ABOVE STATED ADDRESS BY OVERNIGHT
COURIER THAT WE ELECT NOT TO EXTEND THIS LETTEROF CREDIT BEYOND THE INITIAL OR
ANY EXTENDED EXPIRY DATE THEREOF.
HOWEVER, THIS STANDY LETTER OF CREDIT SHALL NOT BE EXTENDED BEYOND 12/31/15
WHICH WILL BE CONSIDERED THE FINAL EXPIRATION DATE.
ANY REFERENCE TO A FINAL
EXPIRATION DATE DOES NOT IMPLY THAT WACHOVIA BANK, NATIONAL ASSOCIATION IS
OBLIGATED TO EXTEND THIS CREDIT BEYOND THE INITIAL EXPIRY DATE OR ANY EXTENDED
DATE THEREOF.
WE HEREBY AGREE WITH YOU THAT DRAFT(S) DRAWN UNDER AND IN COMPLIANCE WITH THE
TERMS AND CONDITIONS OF THIS CREDIT SHALL BE DULY HONORED IF PRESENTED AT OUR
OFFICE LOCATED AT 401 LINDEN STREET, WINSTON-SALEM, NORTH CAROLINA 27101,
ATTENTION: STANDY LETTER OF CREDIT DEPARTMENT ON OR BEFORE THE ABOVE STATED
EXPIRY DATE, OR ANY EXTENDED DATE THEREOF IF APPLICABLE.
CONTINUED ON NEXT PAGE WHICH FORMS AN INTEGRAL PART OF THIS
LETTER OF CREDIT
This is a true copy of the
original instrument issued
by Wachovia Bank, NA, on
the Date noted. /s/ Name Illegible
WACHOVIA
IRREVOCABLE STANDY LETTER OF CREDIT NO. SM229862W
PAGE NO. 2
01/31/08
EXCEPT AS OTHERWISE EXPRESSLY STATED HEREIN, THIS LETTER OF CREDIT IS SUBJECT TO
THE INTERNATIONAL STANDY PRACTICES 1998, INTERNATIONAL CHAMBER OF COMMERCE
PUBLICATION NO. 590 ("ISP98").
SINCERELY,
This is a true copy of the
original instrument issued
by Wachovia Bank, NA, on
the Date noted. /s/ Name Illegible
___________________________
AUTHORIZED SIGNATURE
WACHOVIA BANK, NATIONAL ASSOCIATION
BY: LAM
THE ORIGINAL OF THIS LETTER OF CREDIT CONTAINS AN EMBOSSED SEAL OVER THE
AUTHORIZED SIGNATURE.
PLEASE DIRECT ANY CORRESPONDENCE INCLUDING DRAWING OR INQUIRY QUOTING OUR
REFERENCE NUMBER TO:
WACHOVIA BANK, NATIONAL ASSOCIATION
401 LINDEN STREET, MAIL CODE NC6034
WINSTON SALEM, NORTH CAROLINA 27101
OUR CUSTOMER CARE PHONE NUMBER FOR QUERIES IS 800-776-3862
OUR FAX NUMBER IS 336-735-0950
ATTACHMENT H
CAPITATION PAYMENT