DIVISION RE:
SILICON VALLEY BANK, SANTA CLARA,
CALIFORNIA
IRREVOCABLE STANDBY LETTER OF CREDIT NO. SVBSF
DATED
, 20
AMOUNT: US$
.
GENTLEMEN:
FOR VALUE RECEIVED, THE UNDERSIGNED BEING A DULY AUTHORIZED REPRESENTATIVE OR
OFFICER OF THE BENEFICIARY ("BENEFICIARY") HEREBY IRREVOCABLY TRANSFERS TO:
____________________________________________
(NAME OF TRANSFEREE)
____________________________________________
(ADDRESS)
("TRANSFEREE") ALL RIGHTS OF THE BENEFICIARY TO DRAW UNDER THE ABOVE LETTER OF
CREDIT UP TO ITS AVAILABLE AMOUNT AS SHOWN ABOVE AS OF THE DATE OF THIS
TRANSFER.
BY THIS TRANSFER, ALL RIGHTS OF THE UNDERSIGNED BENEFICIARY IN SUCH LETTER OF
CREDIT ARE TRANSFERRED TO THE TRANSFEREE. TRANSFEREE SHALL HAVE THE SOLE RIGHTS
AS BENEFICIARY THEREOF, INCLUDING SOLE RIGHTS RELATING TO ANY AMENDMENTS,
WHETHER INCREASES OR EXTENSIONS OR OTHER AMENDMENTS, AND WHETHER NOW EXISTING OR
HEREAFTER MADE. ALL AMENDMENTS ARE TO BE ADVISED DIRECTLY TO THE TRANSFEREE
WITHOUT NECESSITY OF ANY CONSENT OF OR NOTICE TO THE UNDERSIGNED BENEFICIARY.
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THE ORIGINAL OF SUCH LETTER OF CREDIT IS RETURNED HEREWITH, AND WE ASK YOU TO
ENDORSE THE TRANSFER ON THE REVERSE THEREOF, AND FORWARD IT DIRECTLY TO THE
TRANSFEREE WITH YOUR CUSTOMARY NOTICE OF TRANSFER.
SINCERELY,
[INSERT NAME OF TRANSFEROR BENEFICIARY]
(AUTHORIZED SIGNATURE)
(PRINTED NAME AND TITLE)
SIGNATURE AUTHENTICATION:1
THE ABOVE SIGNATURE AND TITLE
CONFORMS WITH THAT ON FILE WITH US.
(NAME OF BANK OF TRANSFEROR BENEFICIARY)
(AUTHORIZED SIGNATURE)
(PRINTED NAME AND TITLE)
[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]
1 BY AFFIXING HIS/HER SIGNATURE, HE OR SHE IS CERTIFYING THAT THE BANK ON WHOSE
BEHALF HE OR SHE IS SIGNING IS REGULATED EITHER BY THE FED, THE OCC, OR THE
FDIC, AND THAT THE BANK HAS IMPLEMENTED AML (ANTI-MONEY LAUNDERING) PROCEDURES
IN ACCORDANCE WITH THE BANK SECRECY ACT, AND THAT THE TRANSFEROR NAMED ABOVE HAS
BEEN APPROVED UNDER HIS/HER BANK'S OWN CIP (CUSTOMER INFORMATION PROGRAM). NOTE:
VERIFICATION OF TRANSFEROR'S SIGNATURE(S) BY A NOTARY PUBLIC IS NOT ACCEPTABLE.
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