Common use of Issuance of Letter of Credit Clause in Contracts

Issuance of Letter of Credit. Upon the terms, subject to the conditions and relying upon the representations and warranties set forth in this Agreement or incorporated herein by reference, the Issuing Bank agrees to issue the Letter of Credit. The Letter of Credit shall be in the original stated amount of U.S. $37,152,465.75 (the “Original Stated Amount”), which is the sum of (i) the principal amount of Bonds outstanding on the Closing Date, plus (ii) interest thereon at the Cap Interest Rate for a period of 45 days.

Issuance of Letter of Credit. Upon the terms, subject to the conditions and relying upon the representations and warranties set forth in this Agreement or incorporated herein by reference, the Issuing Bank agrees to issue the Letter of Credit. The Letter of Credit shall be in the original stated amount of U.S. $37,152,465.75 101,315,069 (the “Original Stated Amount”), which is the sum of (i) the principal amount of Bonds outstanding on the Closing Date, plus (ii) interest thereon computed as set forth in the Letter of Credit at the Cap Interest Rate for a period of 45 forty (40) days.

Issuance of Letter of Credit. Upon the terms, subject to the conditions and relying upon the representations and warranties set forth in this Agreement or incorporated herein by reference, the Issuing Bank agrees to issue the Letter of Credit. The Letter of Credit shall be in the original stated amount of U.S. $37,152,465.75 (the “Original Stated Amount”)37,908,069, which is the sum of (i) the principal amount of Bonds outstanding Outstanding on the Closing Date, plus (ii) interest thereon at the Cap Interest Rate for a period of 45 daysfifty (50) days calculated on the basis of a 365/366-day year, as the case may be, and the actual number of days elapsed.

Issuance of Letter of Credit. Upon the terms, subject to the conditions and relying upon the representations and warranties set forth in this Agreement or incorporated herein by reference, the Issuing Bank agrees to issue the Letter of Credit. The Letter of Credit shall be in the original stated amount of U.S. $37,152,465.75 86,117,809 (the “Original Stated Amount”), which is the sum of (i) the principal amount of Bonds outstanding on the Closing Date, plus (ii) interest thereon computed as set forth in the Letter of Credit at the Cap Interest Rate for a period of 45 forty (40) days.