CATV - CABLE TELEVISION (3)
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D 11~~UiTTER OF CREDIT DEPARTMEN
lltUNEW"~U.f" CHURCH ST. STATION
P.O. BOX 11238
IDRK NEW YORK, N.Y. 10286-1238
OUR REF. NO.
S0e010(;)30
DATE
A.PRIL Ie 1995
BENEFICIARY
CITY OF CLEARUATER
112 S. oSCEDLA AVENUE
CLEARUATER~ FL 33316
ATTN: CITY MANAGER
APPLICANT -
TIME UARNER ENTERTAINMENT-ADVANCE
NEUHOUSE PARTNERSHIP
3ee FIRST STAMFORD PLACE
STAMFORD CONNECTICUT e6902
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. "':&EHTLEHEN/LADI ES :
WE HEREBY ISSUE OUR IRREVOCABLE STANDBY LETTER OF CREDIT
IN YOUR FAVOR, EFFECTIVE APRIL 1, 1995.
OUR REFERENCE NO. See010Gae
ACCOUNT OF:
TIME'UARNER ENTERTAINMENT-ADVANCE
NEUHOUSE PARTNERSHIP
3ee FIRST STAMFORD PLACE
STAMFORD cONNECTICUT &6902
AVAILABLE UITH:
OURSELVES
BY PAYMENT
DRAFTS AT SIGHT
DRAUN ON THE BANK OF NEU YORK, HEU
YORK~ HEY YORK, AS INDICATED BELOU
TO THE EXTENT OF:
***USD2e,eee.ee***
EXPIRY DATE:
PLACE OF EXPIRY:
MARCH 03 1996
AT OUR COUNTERS
ADDITIONAL :DETAits";~--- -'>:~:.;:'~~, ._"C-.'~".'.,_.
UE HEREBY AUTHORIZE YOU TO DRAU ON THE BANK OF HEU YORK, NEW
YORK~ NEW YORK,
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BY ORDER AND FOR ACCOUNT OF:
TIME UARNER ENTERTAINMENT-ADVANCE/NEUHOUSE PARTNERSHIP
C/O TIME UARNER CABLE
30e FIRST STAMFORD PLACE
STAMFORD. CT e6992-6732
UP TO AN AGGREGATE AMOUNT OF TWENTY THOUSAND AND 00/100
UNITED STATES DOLLARS (US$29~eee.eG>.
AVAILABLE BY YOUR DRAFTCS> DRAWN ON US AT SIGHT, ACCOMPANIED BY:
I. A SIGNED STATEMENT IN DUPLICATE FROM A PURPORTED AUTHORIZED
OFFICIAL OF THE CITY OF CLEARWATER, FLORIDA (CERTIFICATE MUST SO
STATE>, READING AS FOLLOUS:
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OUR LETTER OF CREDIT SGGG1eea0
TIME YARNER ENTERTAINMENT-ADVANCE
"TIME WARNER ENTERTAINMENT-ADVANCE/NEWHOUSE, DBA VISION CABLE
COMMUNICATIONS, INC.< THE 'OMPANY') 3ee FIRST STAMFORD PLACE,
STANFORD, CT 96992 HAS BECOME INDEBTED TO US PURSUANT TO THE
PROVISIDNS AND REQUIREMENTS DF SECTIDN 16 DF DRDINANCE ND.2984
DF THE CITY DF CLEARWATER ADOPTED FEBRUARY 21,198e, WHICH
ORJ:mNAHCE-,,&RAN.IED.~~~Bl.EI.ELEV TSLON . E:RANr.:>>If':;~.._ TOIJ,fL,___-----. ___
CDMPANY, AND THAT WE HAVE NOT RECEIVED THE FULL AMOUNT DF
SUCH INDEBTEDNESS AFTER NOTICE TO THE CDMPANY AS PROVIDED
IN SAID SECTION 16. '
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SUCH CERTIFICATE MUST FURTHER ENUMERATE THE AMOUNT PAYABLE
TO, BENEFICIARY.
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IT IS A CDNDITION OF THIS LETTER DF CREDIT THAT IT SHALL BE
DEEMED AUTDMATICALLY EXTENDED WITHOUT AMENDMENT FDR ADDITIONAL
PERIDDS DF DNE YEAR FROM THE PRESENT OR ANY FUTURE EXPIRATION
DATE HEREOF, UNLESS AT LEAST THIRTY <ae> DAYS PRIOR TO ANY SUCH
DATE WE SHALL NOTIFY YOU IN WRITING BY REGISTERED MAIL, RETURN
RECEIPT REQUESTED DR BY COURIER THAT WE ELECT NOT TO CDNSIDER
THIS LETTER OF CREDIT RENEWED FOR ANY SUCH ADDITIONAL PERIOD.
AFTER RECEIPT BY YOU OF SUCH NOTICE, YOU MAY DRAW HEREUNDER ON
OR BEFORE THE THEN APPLICABLE EXPIRATION DATE AND FOR THE THEN
AVAILABLE AMOUNT BY MEANS OF YOUR SIGHT DRAFT DRAWN ON US,
ACCOMPANIED BY A SIGNED STATEMENT IN DUPLICATE FRDM A PURPORTED
AUTHORIZED OFFICIAL OF THE CITY OF CLEARWATER, READING: "WE ARE
IN RECEIPT OF WRITTEN NOTICE FROM THE BANK OF NEW YDRK OF ITS
ELECTION NOT TO RENEW ITS LETTER OF CREDIT NO. seee10e30 FOR AN
ADDITIONAL TERM DF ONE YEAR AND THE APPLICANT OF THIS LETTER OF
CREDIT IS STILL OBLIGATED TO US UNDER THE FRANCHISE, AND AS OF
.... THEc.,.DA:tE--DFc..-J:HIJbDRAUIN6 J.IE~VE: JIDT.RECE I UEUa,ti,_.ac.c.EPIA.lilLE. '~'.. ..
REPLACEMENT LETTER OF CREDIT iFRdH THE APptICANT. 'If' DRAF'fs-'-MUST~BE
DRAWN AND PRESENTED TO US AT OUR OFFICE LOCATED AT 101 BARCLAY
STREET, NEW YORK, NEW YORK leee7, ATTN: MANAGER, STANDBY LETTER
OF CREDIT, FLOOR 8 EAST, NOT LATER THAN MARCH 3, 1996, OR ANY
AUTOMATICALLY EXTENDED DATE AS PROVIDED FOR HEREIN.
DRAFTS HEREUNDER MUST BE MARKED: "DRAWN UNDER THE BANK OF NEW
YORK IRREVOCABLE LETTER OF CREDIT NO. seee1eea0u. WE HEREBY
AGREE WITH THE DRAWERS OF ALL DRAFTS DRAWN UNDER AND IN
COMPLIANCE WITH THE TERMS OF THIS LETTER OF CREDIT, THAT SUCH
DRAFTS WILL BE DULY HONORED UPON PRESENTATION TO THE DRAWEE.
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IF ANY AMENDMENT TO THIS LETTER OF CREDIT IS NOT ACCEPTED BY THE
BENEFICIARY, THE BENEFICIARY'S SIGNED STATEMENT TO THAT EFFECT
IS REQUIRED.
II
THIS LETTER OF CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND
PRACTICE FOR DOCUMENTARY CREDITS (1993 REVISION), INTERNATIONAL
CHAMBER OF COMMERCE, PUBLICATION NO. see.
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.. OF~ L1:TTER OF CREDIT DEPARTMEN
CHURCH ST. STATION
P.O. BOX 11238
IDRK NEW YORK, N.Y. 10286-1238
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OUR LETTER OF CREDIT SeeG1ee3e
TIME WARNER ENTERTAINMENT-ADVANCE
YOURS VERY TRULY,
I!!#W; t(,~
AUrHOR.Ilt~JD SImnt THaE
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