STANDBY LETTER OF CREDIT AGREEMENTStandby Letter of Credit Agreement • August 10th, 2009 • Barrett Business Services Inc • Services-help supply services • California
Applicant hereby agrees for good and valuable consideration that the Existing Agreement, regardless of whether it was addressed to you or some other person or entity, be replaced in its entirety by this Agreement so that the Existing Credits which were originally issued under and in connection with the Existing Agreement will now be deemed for all purposes Credits issued under and in connection with this Agreement and not the Existing Agreement. Applicant also hereby requests that you, Wells Fargo Bank, National Association (“Wells Fargo”), issue in your name and at your sole option, unless provided otherwise in any Loan Document, one or more standby letters of credit pursuant to Applications for the issuance of such Credits and the terms and conditions of this Agreement. The Existing Credits were issued at Applicant’s request for Applicant’s account, and Each other Credit will be issued at Applicant’s request and for its account, and, unless otherwise specifically provided in any Loan
