Common use of Form of Performance Security Clause in Contracts

Form of Performance Security. The forms of the Performance Security and the Operating Security are set forth beginning on the following page. [The remainder of this page has been intentionally left blank.] SCHEDULE D-1 PERFORMANCE SECURITY FORM OF IRREVOCABLE STANDBY LETTER OF CREDIT [Letterhead of Bank] Name of Agency Address Standby Letter of Credit No. Date: Dear Sirs: Know All Men by These Presents that we, [•], a corporation organized and existing under the laws of the Republic of the Philippines (the “Issuer”), hereby establish our Irrevocable Standby Letter of Credit No. [•+ (the “Letter of Credit”) in your favor and for the account of [insert name of the Company] (the “Company”) relating to the obligations of the Company under the [name of Agency] Information and Communications Technology Modernization Agreement dated [•+ (the “Agreement”) between yourselves and the Company. Capitalized terms used in this Letter of Credit shall have the meanings given to them in the Agreement except as otherwise expressly defined herein.

Form of Performance Security. The forms of the Performance Security and the Operating Security are set forth beginning on the following page. [The remainder of this page has been intentionally left blank.] SCHEDULE D-1 PERFORMANCE SECURITY FORM OF IRREVOCABLE STANDBY LETTER OF CREDIT [Letterhead of Bank] Name of Agency LGU Address Standby Letter of Credit No. Date: Dear Sirs: Know All Men by These Presents KNOW ALL MEN BY THESE PRESENTS that we, [•], a corporation organized and existing under the laws of the Republic of the Philippines (the “Issuer”), hereby establish our Irrevocable Standby Letter of Credit No. [•+ + (the “Letter of Credit”) in your favor and for the account of [*insert name of the Company] (the “Company”) relating to the obligations of the Company under the [name of AgencyLGU] Information and Communications Technology Modernization Ecological Solid Waste Management Agreement dated [•+ + (the “Agreement”) between yourselves and the Company. Capitalized terms used in this Letter of Credit shall have the meanings given to them in the Agreement except as otherwise expressly defined herein.

Form of Performance Security. The forms form of the Performance Security and the Operating Security are is set forth beginning on the following page. [The remainder of this page has been intentionally left blank.] SCHEDULE D-1 7-­‐1 PERFORMANCE SECURITY FORM OF IRREVOCABLE STANDBY LETTER OF CREDIT [Letterhead of BankIssuer] Name of Agency Address [Agency] [Address] Place: [●] Standby Letter of Credit No. [●] Date: [●] Dear Sirs: Know All Men by These Presents KNOW ALL MEN BY THESE PRESENTS that we, [•]the Agency, a corporation organized and existing under the laws of the Republic of the Philippines (the “Issuer”), hereby establish our Irrevocable Standby Letter of Credit No. [•+ ●] (the “Letter of Credit”) in your favor and for the account of [insert name of the Company] (the “Company”) relating to the obligations of Company from the Company Signature Date until the Provisional Operations Start Date under the [name of Agency] Information and Communications Technology Modernization Concession Agreement dated [•+ ●] (the “Agreement”) between yourselves (the “Agency”) and the Company. Capitalized terms used in this Letter of Credit shall have the meanings given to them in the Agreement except as otherwise expressly defined herein.

Form of Performance Security. The forms of the Performance Security and the Operating Security are set forth beginning on the following page. [The remainder of this page has been intentionally left blank.] SCHEDULE D-1 PERFORMANCE SECURITY FORM OF IRREVOCABLE STANDBY LETTER OF CREDIT [Letterhead of Bank] Name of Agency Address Standby Letter of Credit No. Date: Dear Sirs: Know All Men by These Presents KNOW ALL MEN BY THESE PRESENTS that we, [•], a corporation organized and existing under the laws of the Republic of the Philippines (the “Issuer”), hereby establish our Irrevocable Standby Letter of Credit No. [•+ + (the “Letter of Credit”) in your favor and for the account of [insert name of the Company] (the “Company”) relating to the obligations of the Company under the [name of Agency] Information and Communications Technology Modernization Agreement dated [•+ + (the “Agreement”) between yourselves and the Company. Capitalized terms used in this Letter of Credit shall have the meanings given to them in the Agreement except as otherwise expressly defined herein.