Common use of Form of Letter of Credit Clause in Contracts

Form of Letter of Credit. IRREVOCABLE STANDBY LETTER OF CREDIT ------------------------------------ Date:___________________ ISSUING BANK CONFIRMING OUR CABLE OF TODAY _________________________ _________________________ Credit Number:_________________________ _________________________ Opener's Reference No.______________________ Dear Sir or Madam: BY ORDER OF: [SPC BUYER] _____________________________ _____________________________ We hereby open in favor of: P.M.I. COMERCIO INTERNACIONAL S.A. DE C.V. ("PMI") MARINA NACIONAL NUM. 329 XXXXX XXXXXXXXX, XXXX 00 XXXXXX, X.X., XXXXXX our Irrevocable Standby Letter of Credit ("Letter of Credit") for the account of XXXXX REFINING & MARKETING, INC. ("Openers") for a sum of UP TO A MAXIMUM OF US DOLLARS _______________ (________ _______________ (AND NO/100 US DOLLARS) available by your draft(s) at SIGHT on [ISSUING OR ADVISING BANK] effective __________ and expiring, subject to force majeure as set forth below, at [NEW YORK, NEW YORK] [MEXICO CITY, MEXICO] on _____, ________ [62 DAYS] [42 DAYS IF A MEXICO BANK] AFTER LAST DAY OF THE AGREED LAYDAYS AS SHOWN ON THE AGREED LIFTING PROGRAM]. AVAILABLE BY BENEFICIARY'S DRAFTS DRAWN AT SIGHT ON [ISSUING OR ADVISING BANK] ACCOMPANIED BY THE FOLLOWING DOCUMENT: A STATEMENT PURPORTEDLY SIGNED BY AN AUTHORIZED OFFICER OF PMI STATING THAT (A) "ALTHOUGH THE INVOICE(S) PRESENTED UNDER THIS LETTER OF CREDIT WAS DUE ACCORDING TO CONTRACT TERMS, AND PMI PRESENTED NORMAL SHIPPING DOCUMENTS AS REQUESTED BY [BUYER] COVERING THE SHIPMENT OF MAYA CRUDE OIL, [BUYER] FAILED TO MAKE PAYMENT AS AND WHEN DUE, I.E., 30 (THIRTY) DAYS AFTER XXXX OF LADING DATE, PAYMENT REMAINS OUTSTANDING AT TIME OF DRAWING, AND FUNDS DRAWN UNDER THIS LETTER OF CREDIT WILL BE EXCLUSIVELY UTILIZED AS PAYMENT FOR THE ACCOMPANYING INVOICE(S)," AND (B) "THE AMOUNT BEING DRAWN HEREUNDER IS EQUAL TO THE AGGREGATE AMOUNT UNPAID OF INVOICES PAST DUE." SPECIAL CONDITIONS: PARTIAL AND MULTIPLE DRAWING IS AUTHORIZED. ALL BANKING CHARGES, INCLUDING NEGOTIATION, TELEX, ETC., ARE FOR THE ACCOUNT OF OPENERS.

Form of Letter of Credit. See attached. Exhibit F THIS SAMPLE WORDING IS PRESENTED WITHOUT ANY RESPONSIBILITY ON OUR PART. THIS PROFORMA IS PROVIDED TO YOU AT YOUR REQUEST ONLY AS SUGGESTED WORDING FOR THE LETTER OF CREDIT. PLEASE NOTE THAT THE LETTER OF CREDIT IS IN DRAFT FORM ONLY AND REMAINS UNISSUED AND IS NOT AN ENFORCEABLE INSTRUMENT. =====================================================================begin format ================================================================ Xxxxx Fargo Bank, X.X. X. X. Trade Services Standby Letters of Credit 000 Xxxxx Xxxxxx, 2nd Floor MAC A0283-023 San Leandro, CA. 00000-0000 Phone: [*] Option 1 E-Mail: [*] Irrevocable Standby Letter of Credit Number: Issue Date: BENEFICIARY APPLICANT SP DIAMOND STATE CLASS DIAMOND STATE GENERATION B HOLDINGS, LLC HOLDINGS, LLC X/X XXXXXXXX XXXXX XXXXXXX 0000 XXXXX XXXXX XXXXXX 00 XXXX XXXXX XX. BLVD., NW SAN JOSE, CALIFORNIA 95134 BIN SC 1108 XXXXXXX, XX 00000 ATTENTION: [*] LETTER OF CREDIT ISSUE AMOUNT USD [*] EXPIRY DATE: [*] LADIES AND GENTLEMEN: . AT THE REQUEST AND FOR THE ACCOUNT OF DIAMOND STATE GENERATION HOLDINGS, LLC AT 0000 XXXXX XXXXX XXXXXX, XXX XXXX, XX 00000 (“DSGH”), WE HEREBY ESTABLISH OUR IRREVOCABLE STANDBY LETTER OF CREDIT ------------------------------------ Date:___________________ ISSUING BANK CONFIRMING OUR CABLE OF TODAY _________________________ _________________________ Credit Number:_________________________ _________________________ Opener's Reference No.______________________ Dear Sir or Madam: BY ORDER OF: [SPC BUYER] _____________________________ _____________________________ We hereby open in favor of: P.M.I. COMERCIO INTERNACIONAL S.A. DE C.V. ("PMI") MARINA NACIONAL NUMNO. 329 XXXXX XXXXXXXXX, XXXX 00 XXXXXX, X.X., XXXXXX our Irrevocable Standby Letter of Credit ("Letter of Credit") for the account of XXXXX REFINING & MARKETING, INC. ("Openers") for a sum of UP TO A MAXIMUM OF US DOLLARS _______________ (________ _______________ THE “LETTER OF CREDIT”) IN FAVOR OF SP DIAMOND STATE CLASS B HOLDINGS, LLC (AND NO/100 “BENEFICIARY”) IN THE AMOUNT OF USD [*] AVAILABLE WITH US DOLLARS) available by your draft(s) at SIGHT on [ISSUING OR ADVISING AT OUR OFFICE LOCATED AT XXXXX FARGO BANK] effective __________ and expiring, subject to force majeure as set forth belowN.A., at [NEW YORKU.S. TRADE SERVICES, NEW YORK] [MEXICO CITYSTANDBY LETTERS OF CREDIT, MEXICO] on _____000 XXXXX XXXXXX, ________ [62 DAYS] [42 DAYS IF A MEXICO BANK] AFTER LAST DAY 2ND FLOOR, SAN LEANDRO, CA 94577-6922 BY PAYMENT AGAINST PRESENTATION OF THE AGREED LAYDAYS AS SHOWN ON THE AGREED LIFTING PROGRAM]. AVAILABLE BY BENEFICIARY'S DRAFTS DRAWN AT SIGHT ON [ISSUING OR ADVISING BANK] ACCOMPANIED BY THE FOLLOWING DOCUMENT: A STATEMENT PURPORTEDLY SIGNED BY AN AUTHORIZED OFFICER OF PMI STATING THAT (A) "ALTHOUGH THE INVOICE(S) PRESENTED UNDER THIS LETTER OF CREDIT WAS DUE ACCORDING TO CONTRACT TERMS, AND PMI PRESENTED NORMAL SHIPPING DOCUMENTS AS REQUESTED BY [BUYER] COVERING THE SHIPMENT OF MAYA CRUDE OIL, [BUYER] FAILED TO MAKE PAYMENT AS AND WHEN DUE, I.E., 30 (THIRTY) DAYS AFTER XXXX OF LADING DATE, PAYMENT REMAINS OUTSTANDING AT TIME OF DRAWING, AND FUNDS DRAWN UNDER THIS LETTER OF CREDIT WILL BE EXCLUSIVELY UTILIZED AS PAYMENT FOR THE ACCOMPANYING INVOICE(S)," AND (B) "THE AMOUNT BEING DRAWN HEREUNDER IS EQUAL TO THE AGGREGATE AMOUNT UNPAID OF INVOICES PAST DUE." SPECIAL CONDITIONS: PARTIAL AND MULTIPLE DRAWING IS AUTHORIZED. ALL BANKING CHARGES, INCLUDING NEGOTIATION, TELEX, ETC., ARE FOR THE ACCOUNT OF OPENERS.DOCUMENTS:

Form of Letter of Credit. BENEFICIARY Post Mxxxxxxxxx Associates Oxx Xxxxxxxxxx Xxxxxx, Suite 3220 San Francisco, CA 94104 Attn: Building Manager APPLICANT Broadpoint Securities Group, Inc. 1 Xxxx Xxxxx Xxx Xxxx, XX 00000-0000 WE HEREBY ESTABLISH OUR IRREVOCABLE STANDBY LETTER OF CREDIT ------------------------------------ Date:___________________ ISSUING BANK CONFIRMING OUR CABLE NO. XXXXXXXX IN FAVOR OF TODAY _________________________ _________________________ Credit Number:_________________________ _________________________ Opener's Reference No.______________________ Dear Sir or Madam: BY ORDER OF: [SPC BUYER] _____________________________ _____________________________ We hereby open in favor of: P.M.I. COMERCIO INTERNACIONAL S.A. DE C.V. ("PMI") MARINA NACIONAL NUM. 329 XXXXX XXXXXXXXX, XXXX 00 XXXXXX, X.X., XXXXXX our Irrevocable Standby Letter of Credit ("Letter of Credit") for the account of XXXXX REFINING & MARKETINGPOST MXXXXXXXXX ASSOCIATES FOR THE ACCOUNT OF BROADPOINT SECURITIES GROUP, INC. ("Openers") for a sum of UP TO FOR A MAXIMUM OF US DOLLARS _______________ (________ _______________ (AND NO/100 US DOLLARS) available by your draft(s) at SIGHT on [ISSUING OR ADVISING BANK] effective __________ and expiringSUM NOT EXCEEDING $338,981, subject to force majeure as set forth below, at [NEW YORK, NEW YORK] [MEXICO CITY, MEXICO] on _____, ________ [62 DAYS] [42 DAYS IF A MEXICO BANK] AFTER LAST DAY OF THE AGREED LAYDAYS AS SHOWN ON THE AGREED LIFTING PROGRAM]. AVAILABLE BY BENEFICIARY'S YOUR DRAFTS DRAWN AT SIGHT ON [ISSUING OR ADVISING BANK] US EFFECTIVE IMMEDIATELY AND EXPIRING AT OUR COUNTERS AT OUR CLOSE OF BUSINESS ON NOVEMBER XX, 0000. DRAFTS DRAWN HEREUNDER MUST BE ACCOMPANIED BY THE FOLLOWING DOCUMENT: A STATEMENT PURPORTEDLY SIGNED BY AN ONE OF YOUR AUTHORIZED OFFICER SIGNATORIES READING AS FOLLOWS: "THE AMOUNT OF PMI STATING THAT (A) THE ACCOMPANYING DRAFT IS DUE AND PAYABLE TO THE LANDLORD UNDER A CERTAIN OFFICE LEASE DATED AS OF MARCH 31, 2005, BETWEEN POST MXXXXXXXXX ASSOCIATES AND BROADPOINT SECURITIES GROUP, INC." DRAFTS DRAWN HEREUNDER MUST INDICATE: "ALTHOUGH DRAWN UNDER LETTER OF CREDIT NO. XXXXXXXX OF THE INVOICE(S) PRESENTED UNDER BANK OF NEW YORK MELLON." IT IS A CONDITION OF THIS LETTER OF CREDIT WAS DUE ACCORDING TO CONTRACT TERMSTHAT IT SHALL BE AUTOMATICALLY EXTENDED WITHOUT AMENDMENT FOR FURTHER PERIODS OF ONE YEAR FROM THE PRESENT AND EACH FUTURE EXPIRATION DATE, AND PMI PRESENTED NORMAL SHIPPING DOCUMENTS AS REQUESTED BY [BUYER] COVERING THE SHIPMENT OF MAYA CRUDE OILUNLESS, [BUYER] FAILED TO MAKE PAYMENT AS AND WHEN DUE, I.E., 30 AT LEAST THIRTY (THIRTY30) DAYS AFTER XXXX OF LADING PRIOR TO SUCH DATE, PAYMENT REMAINS OUTSTANDING WE SHALL SEND YOU NOTICE IN WRITING BY OVERNIGHT COURIER, TO THE ATTENTION OF YOUR BUILDING MANAGER AT TIME OF DRAWING, AND FUNDS DRAWN UNDER THE ABOVE ADDRESS THAT WE ELECT NOT TO RENEW THIS LETTER OF CREDIT FOR SUCH ADDITIONAL PERIOD. ANY SUCH NOTICE WILL BE EXCLUSIVELY UTILIZED AS PAYMENT EFFECTIVE THREE (3) DAYS AFTER BEING SENT BY US, AND THEREAFTER YOU MAY DRAW DRAFTS(S) ON US AT SIGHT FOR THE ACCOMPANYING INVOICE(S)," AND (B) "THE AMOUNT BEING DRAWN HEREUNDER IS EQUAL AMOUNTS UP TO THE AGGREGATE AMOUNT UNPAID REMAINING BALANCE OF INVOICES PAST DUE." SPECIAL CONDITIONS: PARTIAL THIS LETTER OF CREDIT ON OR BEFORE THE THEN APPLICABLE EXPIRATION DATE, AND MULTIPLE DRAWING SUCH DRAFT(S) NEED NOT BE ACCOMPANIED BY ANY STATEMENT. THIS LETTER OF CREDIT IS AUTHORIZEDTRANSFERABLE IN ITS ENTIRETY TO ANY ASSIGNEE OF TRANSFEREE OF YOUR INTEREST IN THE OFFICE LEASE REFERRED TO ABOVE WITHOUT ANY FEE OR CHARGE ON YOUR PART OR ON THE PART OF THE TRANSFEREE. ALL BANKING CHARGES, INCLUDING NEGOTIATION, TELEX, ETC., ARE FOR THE ACCOUNT OF OPENERS.SAID TRANSFER IS TO BE EFFECTED AT OUR COUNTERS AND IS CONTINGENT UPON:

Form of Letter of Credit. IRREVOCABLE STANDBY LETTER OF CREDIT ------------------------------------ Date:______NUMBER _____________ ISSUING BANK CONFIRMING OUR CABLE OF TODAY ISSUE DATE: April __, 2020 ISSUING BANK: SILICON VALLEY BANK 3003 TASMAN DRIVE 2ND FLOOR, MAIL SORT HF210 XXXXX XXXXX, XXXXXXXXXX 00000 BENEFICIARY: WESTLAKE PARK PLACE, INC. C/O INVESCO REAL ESTATE 0000 XXXX XXXXXX, SUITE 3400 DALLAS, TEXAS 75201 ATTN: WESTLAKE ASSET MANAGER APPLICANT: ARCUTIC BIOTHERAPEUTICS, INC. 0000 XXXXXXXXX XXXX, XXXXX 000 XXXXXXXX XXXX, XXXXXXXXXX 00000 ATTN: XXXXX XXXXXXXX AMOUNT: US$1,542,000.00 (ONE MILLION FIVE HUNDRED FORTY-TWO AND 00/100 U.S. DOLLARS) EXPIRATION DATE: APRIL _________________, 2020 PLACE OF EXPIRATION: ISSUING BANK’S COUNTERS AT ITS ABOVE ADDRESS DEAR SIR/MADAM: WE HEREBY ESTABLISH OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. SVBSF______ _________________________ Credit Number:_________________________ _________________________ Opener's Reference No.______________________ Dear Sir or Madam: BY ORDER OF: [SPC BUYER] _____________________________ _____________________________ We hereby open in favor of: P.M.I. COMERCIO INTERNACIONAL S.A. DE C.V. ("PMI") MARINA NACIONAL NUM. 329 XXXXX XXXXXXXXX, XXXX 00 XXXXXX, X.X., XXXXXX our Irrevocable Standby Letter of Credit ("Letter of Credit") for the account of XXXXX REFINING & MARKETING, INC. ("Openers") for a sum of UP TO A MAXIMUM OF US DOLLARS _______________ (________ _______________ (AND NO/100 US DOLLARS) available by your draft(s) at SIGHT on [ISSUING OR ADVISING BANK] effective __________ and expiring, subject to force majeure as set forth below, at [NEW YORK, NEW YORK] [MEXICO CITY, MEXICO] on _____, ________ [62 DAYS] [42 DAYS IF A MEXICO BANK] AFTER LAST DAY OF THE AGREED LAYDAYS AS SHOWN ON THE AGREED LIFTING PROGRAM]. IN YOUR FAVOR AVAILABLE BY BENEFICIARY'S DRAFTS DRAWN AT SIGHT ON [ISSUING OR ADVISING BANK] ACCOMPANIED BY PAYMENT AGAINST YOUR PRESENTATION TO US OF THE FOLLOWING DOCUMENT: A STATEMENT PURPORTEDLY SIGNED BY AN AUTHORIZED OFFICER OF PMI STATING THAT (A) "ALTHOUGH THE INVOICE(S) PRESENTED UNDER THIS LETTER OF CREDIT WAS DUE ACCORDING TO CONTRACT TERMS, AND PMI PRESENTED NORMAL SHIPPING DOCUMENTS AS REQUESTED BY [BUYER] COVERING THE SHIPMENT OF MAYA CRUDE OIL, [BUYER] FAILED TO MAKE PAYMENT AS AND WHEN DUE, I.E., 30 (THIRTY) DAYS AFTER XXXX OF LADING DATE, PAYMENT REMAINS OUTSTANDING AT TIME OF DRAWING, AND FUNDS DRAWN UNDER THIS LETTER OF CREDIT WILL BE EXCLUSIVELY UTILIZED AS PAYMENT FOR THE ACCOMPANYING INVOICE(S)," AND (B) "THE AMOUNT BEING DRAWN HEREUNDER IS EQUAL TO THE AGGREGATE AMOUNT UNPAID OF INVOICES PAST DUE." SPECIAL CONDITIONS: PARTIAL AND MULTIPLE DRAWING IS AUTHORIZED. ALL BANKING CHARGES, INCLUDING NEGOTIATION, TELEX, ETC., ARE FOR THE ACCOUNT OF OPENERS.: