conditions on the Premises.
The PLL policy may be on a claims made basis.
Minimum of $1,000,000 policy limit.
9
EXHIBIT G
LETTER OF CREDIT
10
[LETTERHEAD]
IRREVOCABLE STANDBY LETTER OF CREDIT NO. 00037
RE:
LEASE AGREEMENT DATED AS OF JUNE 6, 2007 (THE "LEASE AGREEMENT"), BY AND BETWEEN
WOODRIDGE HOLDINGS, LLC AND BIG T-WOODRIDGE HOLDINGS, LLC, AS LANDLORDS, AND
DECODE CHEMISTRY, INC., AS TENANT, IN RESPECT OF THE PREMISES COMMONLY KNOWN AS
2501 W. DAVEY, WOODRIDGE, ILLINOIS
BENEFICIARIES:
APPLICANT:
WOODRIDGE HOLDINGS, LLC
DECODE CHEMISTRY, INC.
C/O TERRELL GROUP MANAGEMENT, INC.
2501 DAVEY ROAD
5300 MEADOWS ROAD, SUITE 400
WOODRIDGE, IL 60517
LAKE OSWEGO, OR 97035
AND/OR
BIG T-WOODRIDGE HOLDINGS, LLC
C/O TERRELL GROUP MANAGEMENT, INC.
5300 MEADOWS ROAD, SUITE 400
LAKE OSWEGO, OR 97035
ISSUE DATE:
JUNE 6, 2007
MAXIMUM AMOUNT
U.S. $5,000,000.00 (FIVE MILLION AND 000/100 U.S. DOLLARS)
INITIAL
EXPIRATION DATE:
JUNE 6, 2008
FINAL
EXPIRATION DATE:
JUNE 6, 2024
11
DEAR SIRS:
WE HEREBY ISSUE OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. 00037 (THIS "LETTER
OF CREDIT") IN FAVOR OF WOODRIDGE HOLDINGS, LLC AND BIG T-WOODRIDGE
HOLDINGS, LLC (THE "BENEFICIARIES" OR, COLLECTIVELY, "YOU" OR "YOUR"), EFFECTIVE
IMMEDIATELY, AND AVAILABLE AT OUR COUNTERS LOCATED AT 101 CARNEGIE CENTER,
PRINCETON, NEW JERSEY 08540 UPON PRESENTATION OF YOUR DRAFT AT SIGHT AS
INDICATED BELOW (PURPORTEDLY SIGNED BY ONE OF A BENEFICIARY'S OFFICERS OR
AUTHORIZED SIGNATORIES) AND FOR THE ACCOUNT OF DECODE CHEMISTRY, INC. (THE
"APPLICANT") FOR AN AMOUNT IN THE AGGREGATE NOT TO EXCEED $5,000,000.
THIS LETTER OF CREDIT EXPIRES ON JUNE 6, 2008, SUBJECT TO AUTOMATIC ONE-YEAR
RENEWALS AS SET FORTH BELOW, BUT IN ANY EVENT NO LATER THAN JUNE 6, 2024.
THIS LETTER OF CREDIT SHALL BE DEEMED AUTOMATICALLY EXTENDED, WITHOUT AMENDMENT,
FOR ADDITIONAL PERIODS OF ONE (1) YEAR FROM THE CURRENT OR ANY FUTURE EXPIRATION
DATE UNLESS, AT LEAST SIXTY (60) DAYS PRIOR TO THE THEN-CURRENT EXPIRATION DATE,
WE NOTIFY YOU IN WRITING (BY REGISTERED MAIL OR ANY OTHER RECEIPTED METHOD), AT
YOUR ADDRESS STATED ABOVE OR SUCH OTHER ADDRESS YOU GIVE US NOTICE OF IN WRITING
(BY REGISTERED MAIL OR ANY OTHER RECEIPTED METHOD), OF OUR INTENTION NOT TO
RENEW THIS LETTER OF CREDIT FOR ANY SUCH ADDITIONAL PERIOD. SUCH NOTICE OF OUR
INTENTION TO NOT RENEW THIS LETTER OF CREDIT SHALL AUTHORIZE YOU TO DRAW UPON
THIS LETTER OF CREDIT WITHOUT THE NEED TO DELIVER THE CERTIFICATE (AS DEFINED
BELOW).
FUNDS UNDER THIS LETTER OF CREDIT ARE AVAILABLE TO YOU AGAINST YOUR SIGHT DRAFT,
PRESENTED TO US NO LATER THAN THE THEN-APPLICABLE EXPIRATION DATE OF THIS LETTER
OF CREDIT AND ACCOMPANIED BY (A) THE ORIGINAL OR A PHOTOCOPY OF THIS SIGNED
LETTER OF CREDIT (AND, IF APPLICABLE, ANY AMENDMENTS THERETO), AND (B) A
CERTIFICATE (THE "CERTIFICATE") SIGNED BY A DULY AUTHORIZED REPRESENTATIVE OF A
BENEFICIARY (OR A BENEFICIARY'S SUCCESSOR IF THE LETTER OF CREDIT HAS BEEN
TRANSFERRED IN ACCORDANCE WITH THE TERMS HEREOF), STATING THAT:
(A) A WRITTEN NOTICE OF DEFAULT HAS BEEN DELIVERED TO THE APPLICANT SETTING
FORTH THAT EITHER (I)