Sabine Pass Liquefaction, LLC
June 26, 2023
Attention: Commercial Operations
Cheniere Marketing International LLP
3rd Floor
The Zig Zag Building
00 Xxxxxxxx Xxxxxx
London SW1E 6SQ (United Kingdom)
Re: Amended and Restated LNG Sale and Purchase Agreement (FOB) between Sabine Pass Liquefaction, LLC and Cheniere Marketing International LLP, dated August 5, 2014, as amended (the “SPA”)
Letter agreement regarding change from LIBOR to SOFR (“Letter Agreement”)
Dear Sir or Madam:
Reference is made to the SPA. Capitalized terms used in this Letter Agreement and not defined herein shall have the meanings given them in the SPA.
The Parties hereby agree, as contemplated by the definition of “LIBOR” in Section 1.1 of the SPA and Section 1.3 of the SPA, that Three-Month SOFR (as defined below) shall replace LIBOR in the SPA effective as of July 1, 2023. Effective as of such date, the SPA shall hereby be amended by: (i) replacing the definition of LIBOR with the below definition of Three-Month SOFR; and (ii) replacing each instance of “LIBOR” in the SPA with “Three-Month SOFR”. In addition, any other terms relating to LIBOR or the replacement of LIBOR in the SPA shall be disregarded.
“Three-Month SOFR the forward-looking term rate based on a rate equal to the secured overnight financing rate administered by the Federal Reserve bank of New York (or a successor administrator of the secured overnight financing rate) for a tenor of three (3) months, as administered by CME Group Benchmark Administration Limited (or any other person which takes over the administration of that rate) and published by CME Group Benchmark Administration Limited (or any other person which takes over the publication of that rate);”
Except as expressly agreed herein, all terms and conditions of the SPA remain in full force and effect and are acknowledged and ratified.
000 Xxxxx Xxxxxx, Xxxxx 0000, Xxxxxxx, Xxxxx 00000
x0 000-000-0000
Please indicate Xxxxx's agreement with the terms of this Letter Agreement by executing a copy where indicated below and returning it to Seller.
Sincerely,
| SABINE PASS LIQUEFACTION, LLC | ||||||||
| By: | /s/ Xxxxxxx Xxxxxxx | |||||||
| Xxxxxxx Xxxxxxx | ||||||||
| Vice President, Commercial Operations | ||||||||
| Accepted and Agreed: | ||||||||
| Cheniere Marketing International LLP | ||||||||
| By: | Cheniere Marketing, LLC, its managing member | |||||||
| /s/ Xxxxx Xxxxxx | ||||||||
| Name: | Xxxxx Xxxxxx | |||||||
| Title: | Managing Director | |||||||
000 Xxxxx Xxxxxx, Xxxxx 0000, Xxxxxxx, Xxxxx 00000
x0 000-000-0000
