irrevocable direct-pay Letter of Credit - Sacramento Municipal Utility ...

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The Letter of Credit is returned herewith, and we ask you to endorse the transfer on the reverse thereof and to forward it directly to [Name of Transferee] with your customary notice of transfer. Also, please find enclosed our payment of Two Thousand Five Hundred Dollars ($2,500) paid by Sacramento Municipal Utility District as a transfer fee in accordance with the Letter of Credit. _____________________________________ [Name of Transferor] By: ____________________________________ [Insert Name and Title of Authorized Officer] _____________________________________ [Name of Transferee] By: ____________________________________ [Insert Name and Title of Authorized Officer] -2-
ANNEX J (NOTICE OF REINSTATEMENT) U.S. BANK NATIONAL ASSOCIATION IRREVOCABLE DIRECT-PAY LETTER OF CREDIT NO. ______________ U.S. Bank National Association 111 SW Fifth Avenue, Suite 500 Portland, Oregon 97204 Attn: Letter of Credit Department Manager Ladies and Gentlemen: The undersigned individual, a duly authorized representative of ____________________ (the “Beneficiary”), hereby CERTIFIES on behalf of the Beneficiary with respect to that certain Irrevocable Direct-Pay Letter of Credit No. ______________ dated February __, 2012 (the “Letter of Credit”), issued by U.S. Bank National Association (the “Bank”) in favor of the Beneficiary as follows: 1. The Beneficiary is the Trustee (as defined in the Letter of Credit) under the Master Subordinate Resolution and the Supplemental Resolution (as defined in the Reimbursement Agreement dated as of February 1, 2012, between Sacramento Municipal Utility District and the Bank (the “Reimbursement Agreement”)). 2. [Name of Remarketing Agent] is a Remarketing Agent (as defined in the Reimbursement Agreement) and has notified the Beneficiary that on this date it has remarketed Liquidity Provider Bonds (as defined in the Reimbursement Agreement) in the principal amount of $______________ to new purchaser(s), and such new purchaser(s) has/have made deposits with the Beneficiary in immediately available funds in the same principal amounts this date. 3. The Beneficiary hereby requests the immediate reinstatement of the Letter of Credit in an amount equal to the principal of Liquidity Provider Bonds remarketed and an amount equal to accrued interest on such Liquidity Provider Bonds for a period of ___ days, computed as though the Liquidity Provider Bonds bore interest at the rate of 12% per annum, based on a year of 365 days and the actual number of days elapsed. 4. Immediately following the transmission of this certificate, the Beneficiary shall transfer or cause the transfer of the amount of $______________ by wire transfer to the Bank in accordance with the wire transfer instructions previously filed by the Bank with the Beneficiary. $______________ of such amount represents the aggregate principal amount of the remarketed Liquidity Provider Bonds and $______________ represents accrued and unpaid interest on the remarketed Liquidity Provider Bonds. 5. No payment is demanded of the Bank in connection with this certificate.
Page 1 and 2: IRREVOCABLE DIRECT PAY LETTER OF CR
Page 3 and 4: of this Letter of Credit. If such d
Page 5 and 6: ANNEX A (NOTICE OF MODE CHANGE DATE
Page 7 and 8: ANNEX C (INTEREST DRAWING CERTIFICA
Page 9 and 10: ANNEX D (REDEMPTION DRAWING) U.S. B
Page 11 and 12: ___________________________ , as Tr
Page 13 and 14: (b) Of the amount stated in paragra
Page 15 and 16: 5. The amount of this drawing made
Page 17 and 18: IN WITNESS WHEREOF, we have execute
Page 19: ANNEX I (TRANSFER CERTIFICATE) U.S.
Page 23 and 24: ANNEX K FORM OF SIGHT DRAFT U.S. BA

irrevocable direct-pay Letter of Credit - Sacramento Municipal Utility ...

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