CREDIT IS TRANSFERRED AS STATED ABOVE, THE SIGHT
DRAFT(S) REQUIRED HEREIN ARE TO BE EXECUTED BY THE TRANSFEREE AS BENEFICIARY.
UNDER NO CIRCUMSTANCES SHALL THIS LETTER OF CREDIT BE TRANSFERRED TO ANY PERSON
OR ENTITY WITH WHICH U.S. PERSONS OR ENTITIES ARE PROHIBITED FROM CONDUCTING
BUSINESS UNDER U.S. FOREIGN ASSET CONTROL REGULATIONS AND ANY OTHER U.S. LAWS
AND REGULATIONS.
PARTIAL DRAWINGS UNDER THIS LETTER OF CREDIT ARE PERMITTED. THE AMOUNT AND DATE
OF PRESENTATION OF ANY DRAFT DRAWN AND PRESENTED
PURSUANT TO THE TERMS OF THIS LETTER OF CREDIT SHALL BE NOTED ON THIS LETTER OF
CREDIT BY US. AFTER MAKING SUCH NOTATION, THIS LETTER OF
CREDIT SHALL BE RETURNED IMMEDIATELY TO YOU, UNLESS ANY SUCH DRAFT PRESENTED AND
PAID SHALL HAVE EXHAUSTED THIS CREDIT, IN WHICH
CASE THIS LETTER OF CREDIT SHALL BE RETAINED BY US.
WE HEREBY ENGAGE WITH THE DRAWERS, ENDORSERS AND BONA FIDE HOLDERS OF DRAFTS
DRAWN UNDER AND IN COMPLIANCE WITH THE TERMS OF
THIS LETTER OF CREDIT THAT SUCH DRAFTS WILL BE DULY HONORED IF PRESENTED FOR
PAYMENT AT OUR OFFICE LOCATED AT THE BANK OF NEW YORK
MELLON, 525 WILLIAM PENN PLACE, 3 MELLON CENTER - ROOM 1930 PITTSBURGH, PA
15259-0001 PRIOR TO THE TIME OF THE EXPIRATION
HEREOF.
PRESENTMENT MAY BE MADE (A) IN PERSON, (B) BY FEDEX OR OTHER RECOGNIZED
OVERNIGHT COURIER SERVICE OR (C) BY FACSIMILE SENT TO US
AT (412) 234-2733 OR (412) 234-5529 WITH PHONE CONFIRMATION OF FAX PRESENTATION
TO US AT (315) 765-4316 OR (315) 765-4431 SUCH DRAFTS WILL BE PAID
IN IMMEDIATELY AVAILABLE FUNDS
- CONTINUED ON NEXT PAGE -
TRN DCM-081021-6211100
BMSL
PSN
01595
S903PF92
THE BANK OF MELLON
OUR LETTER OF CREDIT
S00056898
BROADPOINT SECURITIES GROUP, INC.
BEFORE 2:00 P.M. EASTERN STANDARD TIME ON THE BANKING DAY AFTER THE DAY ON WHICH
SUCH DRAFT IS SO PRESENTED. "BANKING DAY" MEANS
A DAY ON WHICH COMMERCIAL BANKS ARE OPEN FOR BUSINESS IN THE UNITED STATES.
THIS LETTER OF CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR
DOCUMENTARY CREDITS (2007 REVISION) OF THE INTERNATIONAL
CHAMBER OF COMMERCE (PUBLICATION NO. 600).
YOURS VERY TRULY,
/S/MICHELLE M. CARLSTAD
AUTHORIZED SIGNATURE
TRN DCM-081021-6211100
BMSL
PSN
01595
S903PF92