Landlord will promptly return to Tenant the original Letter of Credit and will
use commercially reasonable efforts to coopete with Tenant in effecting the
termination of such original Letter of Credit. Landlord shall also reasonably
cooperate with Tenant and the issuing bank to execute any further documents
required to accommodate the foregoing reductions in the LC Amount.
Addendum #1 - 3-
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APPENDIX 1
IRREVOCABLE STANDBY LETTER OF CREDIT
NUMBER
ISSUE DATE:
ISSUING BANK:
SILICON VALLEY BANK
3003 TASMAN DRIVE
2ND FLOOR, MAIL SORT HF210
SANTA CLARA, CALIFORNIA 95054
BENEFICIARY:
BETSY ROSS PROPERTYS, LLC
C/O ALHOUSE DEATON
230 SOUTH CALIFORNIA AVENUE, SUITE 212
PALO ALTO, CA 94306
APPLICANT:
SHOCKWAVE MEDICAL, INC.
5403 BETSY ROSS DRIVE
SANTA CLARA, CA 95054
AMOUNT:
US$[1,000,000.00(ONE MILLION AND 00/100 U.S. DOLLARS)]
EXPIRATION DATE:
SVB WILL PUT A SPECIFIC DATE HERE THAT'S 1 YEAR ISSUANCE HERE
PLACE OF EXPIRATION:
-SANTA CLARA, CALIFORNIA
DEAR SIR/MADAM:
WE HEREBY ESTABLISH IN YOUR FAVOR OUR IRREVOCABLE LETTER OF CREDIT NO.
IN THE MAXIMUM AGGREGATE AMOUNT OF [ONE MILLION AND 00/100 US
DOLLARS ($1,000,000.00)] FOR THE ACCOUNT OF SHOCKWAVE MEDICAL, INC. (TENANT).
DEMANDS FOR PAYMENT UP TO THE MAXIMUM AGGREGATE AMOUNT AVAILABLE UNDER THIS
LETTER OF CREDIT UPON PRESENTATION OF BENEFICIARY'S ONE OR MORE DRAFTS IN THE
FORM OF ANNEX A ATTACHED HERETO SIGNED BY YOUR BENEFICIARY'S OFFICER OR IF THIS
LETTER OF CREDIT IS TRANSFERRED, BY AN OFFICER OF ANY TRANSFEREE BENEFICIARY.
EACH DRAFT DRAWN HEREON SHALL BE ADDRESSED TO US, REFERENCE THIS LETTER OF
CREDIT NO.
, SPECIFY THE AMOUNT OF SUCH DRAFT AND OTHERWISE BE IN
THE FORM OF ANNEX A ATTACHED HERETO AND BE PRESENTED TOGETHER WITH THE FOLLOWING
STATEMENT (WITH THE AMOUNT OF THE PAYMENT REQUEST AND WIRE TRANSFER INSTRUCTIONS
COMPLETED):
Addendum #1 - 1-
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"BENEFICIARY HEREBY DRAWS ON LETTER OF CREDIT NO.
IN THE
AMOUNT OF FUNDS IN RESPECT OF THIS DRAWING SHALL BE TRANSMITTED BY WIRE TRANSFER
TO
ROUTING NO.
, ACCOUNT NO. FOR CREDIT TO
THE ACCOUNT OF
(INSERT BENEFICIARY OR TRANSFEREE) ."
NO FURTHER INFORMATION SHALL BE REQUIRED FOR ANY SUCH PAYMENT DEMAND HEREON.
PARTIAL AND MULTIPLE DRAWS ARE PERMITTED.
PAYMENT AGAINST CONFORMING PRESENTATIONS HEREUNDER PRIOR TO 10:00 A.M.
CALIFORNIA TIME, ON A BUSINESS DAY SHALL BE MADE BY BANK DURING NORMAL BUSINESS
HOURS OF THE BANK'S OFFICE ON THE NEXT SUCCEEDING BUSINESS DAY. PAYMENT AGAINST
CONFORMING PRESENTATIONS HEREUNDER AFTER 10:00 A.M. CALIFORNIA TIME, ON A
BUSINESS DAY SHALL BE MADE BY BANK DURING NORMAL BUSINESS HOURS OF THE BANK'S
OFFICE ON THE SECOND SUCCEEDING BUSINESS DAY.
AS USED HEREIN, THE PERM "BUSINESS DAY" MEANS A DAY ON WHICH WE ARE OPEN AT OUR
ABOVE ADDRESS IN SANTA CLARA, CALIFORNIA TO CONDUCT OUR LETTER OF CREDIT
BUSINESS AND "BUSINESS DAY" MEANS ANY DAY ON WHICH BANKS IN SANTA CLARA, CA ARE
NOT AUTHORIZED OR REQUIRED BY LAW TO CLOSE.
THIS LETTER OF CREDIT SHALL INITIALLY EXPIRE ON
, 20
SUCH
EXPIRATION DATE SHALL BE AUTOMATICALLY EXTENDED WITHOUT NOTICE OR AMENDMENT FOR
PERIODS OF ONE (1) YEAR, BUT IN NO EVENT
LATER THAN
20
,
UNLESS