IRREVOCABLE LETTER OF CREDIT NO Issuer Date of Issue Date by club33

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									                            IRREVOCABLE LETTER OF CREDIT NO.


Issuer:
Date of Issue:

Date of Expiration:

Amount:
Beneficiary:                    Wyoming Board of Land Commissioners
                                Herschler Building, 3rd Floor West
                                122 W. 25th Street
                                Cheyenne, Wyoming 82002-0600


Gentlemen:
      By order of                                     we hereby establish
in your favor, effective as of                 , an Irrevocable Letter of
Credit available to you by your drafts(s) drawn on the above-named
Issuer,    at   sight,  in   an   aggregate    amount   not   to   exceed
Thousand United States Dollars, provided that any such draft is presented
under the following terms and conditions and is accompanied by the
following described documents:
     1.    Drafts presented under this Letter of Credit shall bear on
their faces "Drawn under Irrevocable Letter of Credit Number
   , dated                     ."
      2.   All drafts presented hereunder must be accompanied by one of
the following statements, signed under oath by the Director of the Office
of State Lands and Investments.
             a.        This draft is for the amount of $               . The
Office of State Lands and Investments, represents and warrants that
       (Name of Principal)        has neglected, failed, or refused to pay all
moneys, rentals, and royalties accruing to the lessor under the terms of
the lease described below and/or neglected, failed or refused to fully
comply with other terms and conditions of said lease and/or the rules and
regulations relating thereto established by the Board of Land
Commissioners and/or neglected, failed, or refused to pay all damages to
the surface and improvements in and under the following described lands,
to wit:
                                       (Lease No.:)
                                    (Land Description)

              b. The Office of State Lands and Investments, certifies that
          (Name of Principal)      has not filed with the Office of State
Lands and Investments a substitute letter of credit or other acceptable
evidence of financial responsibility in the place of the letter of
credit; and that it is thirty (30) days or less until the current or any
amended expiration date of this Irrevocable Letter of Credit.
      This Letter of Credit shall be automatically extended for additional
periods of                from the present or each future expiration date
unless the bank notifies the Office of State Lands and Investments by
certified mail, return receipt requested, at the above address at lease
ninety (90) days prior to the expiration date of this Letter of Credit
that we intend not to extend it for another period or replace it with
another similar Letter of Credit, and that following such notice, the
Office of State Lands and Investments may immediately draw against this
Letter of Credit if necessary.

     This Letter of Credit sets forth in full the terms hereof, and may
not be modified nor amended without the express, written consent of the
above-named Issuer, the Beneficiary hereto, and the above-named
Principal.
      We hereby agree to give immediate notice to the principal, and the
Office of State Lands and Investments of (a) any notice received or
action filed alleging the insolvency or bankruptcy of the bank; or (b)
alleging any violations of regulatory requirements which could result in
suspension or revocation of the bank's charter or license to do business,
or (c) the bank, for any reason, becomes unable to fulfill its obligation
under this Letter of Credit.
     We hereby agree that drafts drawn under and in compliance with the
terms of this Letter of Credit will be duly honored if presented to the
above-mentioned drawee bank on or before        (expiration date)    .
                                             Very truly yours,


                                                                 Official
Signature                   Official Signature

								
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