Preview | Letter of Credit Agreement |

TABLE OF CONTENTS


			PAGE
ARTICLE I. DEFINITIONS			1
Section 1.1. Definitions			1
Section 1.2. Accounting Terms			14
Section 1.3. Rules of Construction			14
ARTICLE II. EFFECTIVE DATE OF LETTER OF CREDIT AGREEMENT; DURATION OF TERM			15
Section 2.1. Effective Date of Letter of Credit Agreement; Duration of Term			15
ARTICLE III. ISSUANCE OF LETTER OF CREDIT; SECURITY			15
Section 3.1. Issuance of Letter of Credit			15
Section 3.2. Security			15
Section 3.3. Loss to Security			16
Section 3.4. Borrowers Covenants Pertaining to Security			16
Section 3.5. Conditions Precedent to Issuance of Letter of Credit			16
ARTICLE IV. AGREEMENTS WITH RESPECT TO LETTER OF CREDIT			20
Section 4.1. Letter of Credit Fee; Negotiation Fee; Monitoring Fee			20
Section 4.2. Transfer of Letter of Credit			21
Section 4.3. Payment of Certificates Under the Letter of Credit			21
Section 4.4. Amendment of Letter of Credit			22
Section 4.5. Liability of the Bank for Use of the Letter of Credit			22
Section 4.6. Expenses			23
Section 4.7. Banks Right to Cure or Avoid Defaults Under Documents			23
Section 4.8. Banks Obligation			24
Section 4.9. Annual Reduction of Stated Amount			24
ARTICLE V. PAYMENT PROVISIONS			24
Section 5.1. Reimbursement and Other Payments			24
Section 5.2. Payments Due Upon Expiration of Letter of Credit			27
Section 5.3. Late Payments			27
Section 5.4. Increased Costs Due to Change in Law			27
Section 5.5. Computation			28
Section 5.6. Payment Procedure			28
Section 5.7. Business Days			28
Section 5.8. Termination of Swap Agreement			28
ARTICLE VI. UNCONDITIONAL OBLIGATIONS			28
Section 6.1. Obligations Absolute			28
ARTICLE VII. REPRESENTATIONS AND WARRANTIES OF BORROWER			29
Section 7.1. Representations, Warranties and Undertakings			29
ARTICLE VIII. REPRESENTATIONS AND COVENANTS OF BORROWER WITH RESPECT TO FACILITY; RELATED MATTERS			33
Section 8.1. Completion of Facility			33
Section 8.2. Covenants by Borrower with Respect to Completion of Facility			34
Section 8.3. Enforcement of Remedies Against Contractor and Subcontractors

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SECTION	PAGE
and Their Sureties		35
Section 8.4. Application of Proceeds of the Bonds		35
Section 8.5. Conditions Precedent to the Banks Approval of Requisitions for Disbursements from Facility Fund		37
Section 8.6. Financing Sign on Facility; Publicity		38
ARTICLE IX. COVENANTS AND AGREEMENTS WITH RESPECT TO PROPERTY		38
Section 9.1. Use of Facility		38
Section 9. 2. Compliance with Laws		38
Section 9.3. Approvals and Inspections		39
Section 9.4. Possession of the Facility		39
Section 9.5. Insurance		39
Section 9.6 Condemnation		43
Section 9.7. Damage and Destruction; Condemnation; Application of Net Proceeds		46
Section 9.8. Maintenance and Repair of the Facility		47
Section 9.9. Alterations, Additions and Improvements		47
Section 9.10 Other Liens		48
ARTICLE X. AFFIRMATIVE COVENANTS OF BORROWER		48
Section 10.1. Affirmative Covenants of Borrower		48
ARTICLE XI. NEGATIVE COVENANTS OF BORROWER		52
Section 11.1. Negative Covenants of Borrower		52
ARTICLE XII. INDEMNIFICATION		56
Section 12.1. Special Indemnity		56
Section 12.2. Indemnification of Bank		57
Section 12.3. Indemnification Under Letter of Credit and Letter of Credit Documents

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