Cancellation of Standby Letter of Credit Agreement between Cygne Designs, Inc. and Comerica Bank
Cygne Designs, Inc. requests Comerica Bank to cancel Standby Letter of Credit No. SBLC# 030379-40, originally issued to Core Mills. The cancellation is subject to acceptance by the beneficiary and the terms of the original letter of credit agreement. All other terms and conditions remain unchanged. The applicant confirms that no shipment related to this amendment violates U.S. Treasury regulations. The document is signed by an authorized representative of Cygne Designs, Inc. and requires approval from the applicant’s bank if processed through an affiliate or correspondent bank.
Exhibit 10.2
Comerica
Request for Letter of Credit Amendment
(MT 707)
Date May 22, 2008
International Trade Services Dept.
Comerica Bank
Northern CA: 201 Spear St., Suite 200 San Francisco, CA 94105
Southern CA: 9920 South La Cienga Blvd., 11th Floor Inglewood, CA 90301
FOR BANK USE ONLY
31C Date of issuance of letter of credit
30 Date of issuance of this amendment
20 Please amend Irrevocable Letter of Credit No. SBLC# 030379-40
Deliver by: Mail to: Ben. App. Other Cable/Telex Courier to: Ben. App. Other
59 In favor of
NAME OF BENEFICIARY
Amend as follows:
32B Amount is increased by $ (foreign currency)
33B Amount is decreased by $ (foreign currency)
34B New amount after amendment §
31E Latest negotiation/expiration date is extended to
79 Latest shipping date is extended to
Other instructions Please cancel the above standby LC# SBL # 630379-40 issued to Core Mills
All other terms and conditions of this credit remain unchanged. It is understood that this amendment is subject to acceptance by the beneficiary and also to the Application and Agreement pertaining to this letter of credit. The undersigned applicant warrants that no shipment involved in this amendment is in violation of U.S. Treasury Foreign Assets Control or Cuban Assets Control Regulations.
Yours very truly,
Cygne Designs, Inc.
NAME OF APPLICANT
AUTHORIZED SIGNATURE TITLE
Niomi Custodio - Corp. Controller
AUTHORIZED SIGNATURE TITLE
CONTACT NAME
(323) ###-###-####
TELEPHONE NUMBER
FOR USE BY AFFILIATE OR CORRESPONDENT BANK ONLY
APPROVED:
NAME OF APPLICANT’S BANK
By:
Its: VP
OFFICIAL TITLE
TELEPHONE NUMBER
PLEASE NOTE: The above must be executed if the letter of credit was directed through an affiliate or correspondent bank of Comerica Bank.
07/01/2003
