Falcon Cable Letter of Credit
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PAGE: 1
DATE: JANUARY 14, 2002
IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER: 3045406
BENEFICIARY
CITY OF GILROY
ATTN: CITY MANAGER
7351 ROSANNA ST.
GILROY, CA 95020
APPLICANT
FALCON CABLE COMMUNICATIONS LLC
12405 POWERS COURT DR.
ST. LOUIS, MO 63131
AMOUNT
NOT EXCEEDING USD 25,000.00
NOT EXCEEDING TWENTY FIVE THOUSAND
AND 00/100'S US DOLLARS
EXPIRATION
FEBRUARY 4, 2003 AT OUR COUNTERS
THIS LETTER OF CREDIT IS EFFECTIVE FEBRUARY 4, 2002.
WE HEREBY ESTABLISH IN YOUR FAVOR OUR IRREVOCABLE STANDBY LETTER OF
CREDIT NUMBER 3045406 WHICH IS AVAILABLE WITH BANK OF AMERICA, N.A.
BY PAYMENT AGAINST PRESENTATION OF THE ORIGINAL OF THIS LETTER OF
CREDIT AND YOUR DRAFTS AT SIGHT DRAWN ON BANK OF AMERICA, N.A.,
ACCOMPANIED BY THE DOCUMENT DETAILED BELOW:
A SIGNED STATEMENT BY A PURPORTED OFFICER OF THE BENEFICIARY STATING
THAT:
"I) FALCON CABLE COMMUNICATIONS, LLC OR AN AFFILIATE (COLLECTIVELY
"CHARTER") HAS BREACHED ITS OBLIGATIONS UNDER THE FRANCHISE AGREEMENT
BETWEEN THE CITY OF GILROY, CA AND CHARTER (THE "FRANCHISE
AGREEMENT") AND BENEFICIARY IS ENTITLED THEREUNDER TO PRESENT THIS
DRAFT AND DRAW UPON THE LETTER OF CREDIT,
II) THE AMOUNT OF THE ACCOMPANYING DRAFT DOES NOT EXCEED THE AMOUNT
WHICH IS DUE AND PAYABLE BY CHARTER TO THE BENEFICIARY UNDER THE
FRANCHISE AGREEMENT, AND
III) CHARTER HAS FAILED TO PAY SUCH AMOUNT WHEN DUE.
SUCH AMOUNTS SHALL BE PAID BY WIRE TRANSFER TO THE FOLLOWING BANK AND
ACCOUNT:
"
.
THIS LETTER OF CREDIT SHALL BE DEEMED AUTOMATICALLY EXTENDED WITHOUT
AMENDMENT FOR A PERIOD OF ONE (1) YEAR FROM THE PRESENT OR ANY FUTURE
EXPIRATION DATE, UNLESS AT LEAST 30 DAYS PRIOR TO ANY EXPIRATION
DATE, WE NOTIFY YOU BY REGISTERED MAIL OR OVERNIGHT COURIER SERVICE
AT THE ABOVE ADDRESS, THAT WE ELECT NOT TO CONSIDER THIS LETTER OF
CREDIT RENEWED FOR ANY SUCH ADDITIONAL PERIOD.
WE HEREBY ENGAGE WITH YOU THAT DRAFT(S) DRAWN UNDER AND IN COMPLIANCE
WITH THE TERMS OF THIS LETTER OF CREDIT WILL BE DULY HONORED UPON
PRESENTATION, AS SPECIFIED HEREIN.
THIS LETTER OF CREDIT IS SUBJECT TO THE INTERNATIONAL STANDBY
PRACTICES 1998, ICC PUBLICATION NO. 590.
IF YOU REQUIRE ANY ASSISTANCE OR HAVE ANY QUESTIONS REGARDING THIS
TRANSACTION, PLEASE CALL 213-345-6630.
Bank of America, N.A. Trade Operations
Mail Code: CA9-703-19-09
333 S. Beaudry Avenue, 19th Floor, Los Angeles, CA 90017
ORIGINAL
00-35-0202NSB 9-1999_CA9 19
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