WFEF definition
WFEF from ________________________ (the "Obligor") under or in connection with one or more agreements between ________________ and the Obligor as such agreements may be amended from time to time." AND/OR
WFEF has received notice that Letter of Credit No. ____ issued by ___________________ will not be extended beyond its current expiration date. This demand covers amounts which in the future will or may be payable to WFEF by ________________________________ (the "Obligor") under or in connection with an agreement dated __________, 200_ between WFEF and the Obligor (the "Agreement"), as well as amounts which have been paid to WFEF by the Obligor under or in connection with the Agreement within the 90 calendar days preceding the date of this demand." Each draft presented hereunder must be marked "DRAWN UNDER LETTER OF CREDIT NO. _______ ISSUED BY (BANK)" Partial and multiple drawings are permitted under this Letter of Credit. This Letter of Credit expires at our above-specified office on _______________, but shall be automatically extended thereafter, without written amendment, to _____________ in each succeeding calendar year unless you have received at your address above written notice from us sent by registered mail or express courier that we elect not to renew this Letter of Credit beyond the date specified in such notice (the "Final Expiration Date"), which Final Expiration Date will be _______________ or any subsequent ______________ and shall be at least 60 calendar days after the date you receive such notice. The Final Expiration Date shall be automatically extended to that Banking Day (a day on which we are open at our above-specified office to conduct our letter of credit business) which is 10 Banking Days after the Final Expiration Date if (1) the Final Expiration Date falls on a day which is not a Banking Day for any reason referred to in Article 17 of the UCP (as defined below) or (2) the Final Expiration Date falls on a day which is not a Banking Day or any reason other than those referred to in such Article 17 and the next day which would normally be a Banking Day is not a Banking Day for any reason referred to in Article 17. Except as otherwise herein provided, this Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credits (1993 Revision), International Chamber of Commerce Publication No. 500, (the "UCP") and engages us in accordance with the terms thereof. All bank charges in connection with this Letter of Credit are for the account of the Account Party. Very truly yours, _____________________ (BANK) By: ___________________ Title:__________________