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<br />- <br /> <br />You will pay us Legal Expenses incurred by us in connection with each letter of credit or <br />guarantee including without limitation our defense of any proceeding initiated by you to <br />enjoin payment or negotiation by us of a letter of credit or guarantee even if you are awarded <br />such relief, provided only that we have acted in good faith in defending such action. <br /> <br />If you request the issuance of a letter of credit or guarantee listing one of your <br />Subsidiaries or another entity as the account party, each such request will be considered a <br />request by you for the issuance of a letter of credit or guarantee, and you will assume all <br />liabilities and obligations with respect to such letter of credit or guarantee. You represent <br />and warrant to us that you will derive substantial economic benefit from each underlying <br />transaction relating to each request for the issuance of a letter of credit or guarantee <br />listing your Subsidiary or another person as the account party. Your obligations <br />under each letter of credit or guarantee will not be released or discharged if: <br /> <br />. We attempt to collect any payment under such letter of credit or guarantee directly <br />from the Subsidiary or such other entity. <br /> <br />· Any bankmptcy, reorganization, insolvency, receivership, moratorium or other such <br />action effecting creditors generally is tiled by or against the Subsidiary or such other <br />entity. <br /> <br />· We receive payment from the Subsidiary or such other entity, but it is subsequently <br />rescinded or must be returned by us. <br /> <br />OUR RESPONSffiILITIES <br />Ifwe accept your request., we will issue the import or standby letter of credit as described in <br />your electronic or fax transmission and pursuant to this Booklet and the UCP (with regard to <br />import letters of credit) and ISP98 (with regard to standby letters of credit). IT we accept your <br />request, we will issue the guarantee as described in your electronic or fax transmission and <br />pursuant to this Booklet. <br /> <br />We will pay each commercial letter of credit pursuant to its terms, this Booklet and the UCP. <br />We will pay each standby letter of credit pursuant to its terms, this Booklet and the ISP98. <br />We will pay each guarantee pursuant to its terms and this Booklet. <br /> <br />AD-AG-0455B (2004-2) <br /> <br />49 <br />