The U.S. Department of Energy may make multiple drawings totalling up to the amount of funds indicated in the first paragraph as available under this Letter of Credit. Upon receipt of the U.S. Department of Energy's draft and accompanying statement, we will honor the draft and make payment by 3 p.m. Eastern Standard Time on the date stated in the draft (or the next business day if the stated date does not fall on a regular business day), by wire transfer of funds over FEDWIRE to account number 021030004 of the U.S. Treasury through the Federal Reserve Communications System. Each wire transfer of funds shall be formatted in accordance with prescribed U.S. Treasury requirements as shown in Exhibit I of the Standard Sales Provisions, 10 CFR part 625, appendix A. This Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credits (1983 Revision, International Chamber of Commerce Publication No. 400) and except as may be inconsistent therewith, to the Uniform Commercial Code in effect on the date of issuance of this Letter of Credit in the state in which the issuer's head office within the United States is located. Address all communications regarding this Letter of Credit to (address and any applicable reference) Yours truly, Authorized signature. EXHIBIT I-INSTRUCTION GUIDE FOR FUNDS TRANSFER MESSAGES TO TREASURY The following instructions provide specific information which is required so that a funds (wire) transfer message can be transmitted to the Department of Treasury. The funds transfer message format is shown in Attachment 1. A narrative description of each item on the funds transfer message follows: Line 1 Item 1-Priority Code-The priority code will be provided by the sending bank. (Note: Some Federal Reserve District banks may not require this item.). Line 2 Item 2-Treasury Department Code-The 9digit identifier "021030004" is the routing symbol of the Treasury. This item is a constant and is required for all funds transfer messages sent to Treasury. Item 3-Type Code-The type code will be provided by the sending bank (will be a 10 or 12). Line 3 Item 4-Sending Bank Code-This 9-digit identifier will be provided by the sending bank. Item 5-Class-The class field may be used at the option of the sending bank. (Note: Some Federal Reserve Districts prohibit use of this field.) Item 6-Reference Number-The reference number will be inserted by the sending bank to identify the transaction. Item 7-Amount-The amount must include the dollar sign and the appropriate punctuation including cents digits. This item will be inserted by the sending bank. Line 4 Item 8-Sending Bank Name-The telegraphic abbreviation which corresponds to Item 4 will be provided by the sending bank. Line 5 Items 9, 10, and 11-Treasury Department, Name, Agency Location Code, Agency Number— This item is of critical importance. It must appear on the funds transfer message in the precise manner as stated to allow for the automated processing and classification of funds transfer message to Treasury for credit to the Department of Energy. This item is comprised of a rigidly formatted, left justifled, nonvariable sequence of characters as follows: TRES NYC/(89000201) Dept. of Energy (SPRO). Item 12-Payment Identification-The payment identification should be furnished by the remitter in the following manner: 1. Using separate worksheet for each MLI offered against, from the SPR Sales Offer Form, enter the MLI maximum quantity offered on (expressed in thousands of barrels) in Column (A). 2. Starting with the highest DLI unit price offered on the MLI from the SPR Sales Offer Form (and the highest preference if the unit prices of two or more DLIS are the same) enter the unit 3. If either the desired quantity in Column (D), or the minimum quantity in Column (E) exceeds the maximum quantity in Column (A), you have made an error either on this form or the 4. Multiply the price in Row 1, Column (B) times the desired quantity in Column (D) (as expressed in thousands) and enter the total DLI price in Column (F). 5. Multiply the total DLI price in Column (F) times the factor in Column (G) and enter the product in Column (H). The factor is 5% of 1000. 6. Subtract the DLI desired quantity in Row 1, Column (D) from the maximum quantity in Row 1, Column (A). Enter the result in Row 2, Column (A). If the result is zero, go to step 11. 8. Multiply the lesser of the remaining maximum quantity in Column (A), or the desired quantity in Column (D) times the unit price (even if this quantity is less than MINQ) and enter the 10. Repeat steps 6-9 for the next higher unit price until maximum quantity remaining is zero, then go to step 11. 11. Sum the amounts in Column (H) and enter the total in Row 8, Column (H). Sum this amount for all the worksheets. If the sum of all the worksheets is less than $10,000,000, enter the sum in the spaces marked offer bond on the SPR Sales Offer Form. If the sum exceeds $10,000,000, then enter $10,000,000 on the offer form. Obtain an offer guarantee in the amount indicated on the offer form and submit with the offer. These worksheets need not be submitted with the offer and should be retained for your files. [53 FR 20511, June 3, 1988] |