BENEFICIARY UNLESS IT IS FULLY UTILIZED.
PARTIAL DRAWS AND MULTIPLE PRESENTATIONS ARE PERMITTED HEREUNDER.
ALL THE DETAILS SET FORTH HEREIN IN THIS LETTER OF CREDIT DRAFT IS APPROVED BY
APPLICANT. IF THERE IS ANY DISCREPANCY BETWEEN THE DETAILS OF THIS LETTER OF
CREDIT DRAFT AND THE LETTER OF CREDIT APPLICATION, BETWEEN APPLICANT AND SILICON
VALLEY BANK, THE DETAILS HEREOF SHALL PREVAIL.
___________________________ _______________
Applicant's Authorized Signature DATE
E-1
THE ISSUING BANK SHALL BE ENTITLED (AND REQUIRED) TO RELY UPON THE STATEMENTS
CONTAINED IN THE ABOVE-DESCRIBED STATEMENT(S), AND WILL HAVE NO OBLIGATION TO
VERIFY THE TRUTH OF ANY STATEMENT(S) SET FORTH THEREIN.
THIS LETTER OF CREDIT SHALL EXPIRE ON OUR CLOSE OF BUSINESS ON _______________,
BUT THIS LETTER OF CREDIT AND SUCH EXPIRATION DATE SHALL AUTOMATICALLY BE
EXTENDED WITHOUT AMENDMENT FOR SUCCESSIVE PERIODS OF ONE (1) YEAR EACH FROM ITS
CURRENT AND EACH SUCCESSIVE EXPIRATION DATE, BUT IN NO EVENT BEYOND JULY 31,
2028 WHICH SHALL BE THE FINAL EXPIRATION DATE OF THIS LETTER OF CREDIT, UNLESS,
AT LEAST SIXTY (60) DAYS PRIOR TO THE THEN CURRENT EXPIRATION DATE, THE ISSUING
BANK NOTIFIES BENEFICIARY IN WRITING BY CERTIFIED MAIL, RETURN RECEIPT
REQUESTED, OR OVERNIGHT COURIER SERVICE, AT THE ABOVE ADDRESS (OR ANY OTHER
ADDRESS INDICATED BY BENEFICIARY, IN A WRITTEN NOTICE TO US THE RECEIPT OF WHICH
WE HAVE ACKNOWLEDGED, AS THE ADDRESS TO WHICH WE SHOULD SEND SUCH NOTICE), THAT
THIS LETTER OF CREDIT WILL NOT BE EXTENDED BEYOND THE CURRENT EXPIRATION DATE,
PROVIDED THAT THE OBLIGATION OF US TO MAKE ANY PAYMENT HEREUNDER IN RESPECT OF A
DRAWING REQUEST MADE PRIOR TO THE EXPIRATION DATE HEREOF SHALL CONTINUE UNTIL
PAYMENT IS MADE. A COPY OF OUR NON EXTENSION NOTICE SHALL ALSO BE SENT IN THE
SAME MANNER TO BRIER, IRISH, HUBBARD & ERHART, P.L.C., 2400 EAST ARIZONA
BILTMORE CIRCLE, SUITE 1300, PHOENIX, ARIZONA 85016, ATTN: ROBERT N. BRIER, ESQ;
AND PRA/LB L.L.C., 4315 NORTH 66TH STREET, SCOTTSDALE, ARIZONA 85251, ATTN: KENN
FRANCIS AND PRA/LB L.L.C., 17 NORTH VISTA DE CATALINA, LAGUNA BEACH, CALIFORNIA
92651, ATTN: TOD THORPE. HOWEVER, THE LACK OF RECEIPT OF SUCH COPY SHALL NOT
INVALIDATE OUR NON EXTENSION NOTICE TO THE BENEFICIARY.
ALL DEMANDS FOR PAYMENT SHALL BE MADE EITHER IN PERSON OR BY OVERNIGHT COURIER
SERVICE BY PRESENTATION OF THE ORIGINAL APPROPRIATE DOCUMENTS ON A BUSINESS DAY
AT OUR OFFICE (THE "BANK'S OFFICE") AT: SILICON VALLEY BANK, 3003 TASMAN DRIVE,
SANTA CLARA, CA 95054, ATTENTION: STANDBY LETTER OF CREDIT NEGOTIATION SECTION.
FACSIMILE PRESENTATIONS ARE PERMITTED. SHOULD BENEFICIARY WISH TO MAKE
PRESENTATIONS UNDER THIS LETTER OF CREDIT ENTIRELY BY FACSIMILE TRANSMISSION IT
NEED NOT TRANSMIT THIS LETTER OF CREDIT AND AMENDMENT(S), IF ANY. EACH FACSIMILE
TRANSMISSION SHALL BE MADE AT: (408) 496-2418 OR (408) 969-6510; AND
SIMULTANEOUSLY UNDER ATTEMPTED TELEPHONE ADVICE TO: (408)654-6274 OR (408)
654-7716, ATTENTION: STANDBY LETTER OF CREDIT NEGOTIATION SECTION WITH ORIGINALS
TO FOLLOW BY OVERNIGHT COURIER SERVICE; PROVIDED, HOWEVER, THE BANK WILL
DETERMINE HONOR OR DISHONOR ON THE BASIS OF PRESENTATION BY FACSIMILE ALONE, AND
WILL NOT EXAMINE THE ORIGINALS. IN