/s/ Vera Kostic
Exhibit 10.4
JPMorgan Chase Bank, N.A.
c/o JPMorgan Treasury Services
Global Trade Services
10420 Highland Manor Drive
Tampa, FL 33610
NOV 8, 2007
OUR L/C NO.: TPTS-233774
TO: | APPLICANT: | |
SEI DAILY INCOME TRUST PRIME | SEI INVESTMENTS COMPANY | |
OBLIGATION FUND | 1 FREEDOM VALLEY DRIVE | |
ATTN: KARL DASHER | OAKS, PA 19456 | |
1 FREEDOM VALLEY DRIVE | ||
OAKS, PA 19456 |
WE HAVE ESTABLISHED OUR IRREVOCABLE STANDBY LETTER OF CREDIT IN YOUR FAVOR AS DETAILED HEREIN SUBJECT TO 1SP98
DOCUMENTARY CREDIT NUMBER: | TPTS-233774 | |
FURTHER IDENTIFICATION: | ISSUE | |
DATE OF ISSUE: | NOVEMBER 8, 2007 | |
BENEFICIARY: | SEI DAILY INCOME TRUST PRIME OBLIGATION FUND ATTN: KARL DASHER 1 FREEDOM VALLEY DRIVE OAKS, PA 19456 | |
APPLICANT: | SEI INVESTMENTS COMPANY 1 FREEDOM VALLEY DRIVE OAKS, PA 19456 | |
DATE AND PLACE OF EXPIRY: | NOVEMBER 8, 2008 AT OUR COUNTER | |
DOCUMENTARY CREDIT AMOUNT: | USD126,000,000.00 | |
AVAILABLE WITH: | JPMORGAN CHASE BANK, N.A. BY PAYMENT |
IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT SHALL BE AUTOMATICALLY EXTENDED WITHOUT AMENDMENT FOR ADDITIONAL 12 MONTH PERIODS FROM THE
132211 Lashonda R. Wilson | Page 1 of 3 |
JPMorgan Chase Bank, N.A.
c/o JPMorgan Treasury Services
Global Trade Services
10420 Highland Manor Drive
Tampa, FL 33610
NOV 8, 2007
OUR L/C NO.: TPTS-233774
PRESENT OR EACH FUTURE EXPIRATION DATE, UNLESS AT LEAST 30 DAYS PRIOR TO THE CURRENT EXPIRY DATE WE SEND NOTICE IN WRITING TO YOU VIA SWIFT, TELEX, OR HAND DELIVERY AT THE ABOVE ADDRESS, THAT WE ELECT NOT TO AUTOMATICALLY EXTEND THIS LETTER OF CREDIT FOR ANY ADDITIONAL PERIOD. UPON SUCH NOTICE TO YOU, YOU MAY DRAW ON US AT SIGHT FOR AN AMOUNT NOT TO EXCEED THE BALANCE REMAINING IN THIS LETTER OF CREDIT WITHIN THE THEN-APPLICABLE EXPIRY DATE, BY YOUR SWIFT OR PRESENTATION OF YOUR DRAFT AND DATED STATEMENT PURPORTEDLY SIGNED BY ONE OF YOUR OFFICIALS READING EXACTLY AS FOLLOWS:
THE AMOUNT OF THIS DRAWING USD . . . . . . . . . . . UNDER JPMORGAN CHASE BANK, N.A. LETTER OF CREDIT NUMBER TPTS-233774 REPRESENTS FUNDS DUE US AS WE HAVE RECEIVED NOTICE FROM JPMORGAN CHASE BANK, N.A. OF THEIR DECISION NOT TO AUTOMATICALLY EXTEND LETTER OF CREDIT NUMBER TPTS-233774 AND THE UNDERLYING OBLIGATION REMAINS OUTSTANDING.
IN THE EVENT THIS LETTER OF CREDIT IS SUBSEQUENTLY AMENDED BY US TO RESCIND A NOTICE OF NON-EXTENSION AND TO EXTEND THE EXPIRY DATE HEREOF TO A FUTURE DATE, SUCH EXTENSION SHALL BE FOR THAT SINGLE PERIOD ONLY AND THIS LETTER OF CREDIT WILL NOT BE SUBJECT TO ANY FUTURE AUTOMATIC EXTENSIONS UNLESS AN AUTOMATIC EXTENSION PROVISION IS EXPRESSLY INCORPORATED INTO SUCH AMENDMENT.
ADDITIONAL DETAILS:
THIS LETTER OF CREDIT IS AVAILABLE WITH JPMORGAN CHASE BANK, N.A. AGAINST PRESENTATION OF YOUR DRAFT AT SIGHT DRAWN ON JPMORGAN CHASE BANK, N.A., WHEN ACCOMPANIED BY THE DOCUMENTS INDICATED HEREIN.
BENEFICIARYS DATED STATEMENT PURPORTEDLY SIGNED BY ONE OF ITS OFFICIALS READING AS FOLLOWS:
THE AMOUNT OF THIS DRAWING USD . . . ., UNDER JPMORGAN CHASE BANK, N.A. LETTER OF CREDIT NO. TPTS-233774 REPRESENTS FUNDS DUE AND PAYABLE TO US AS SEI INVESTMENTS COMPANY HAS FAILED TO PAY A REQUIRED CONTRIBUTION AMOUNT AS REQUIRED BY THE CAPITAL SUPPORT AGREEMENT BETWEEN SEI INVESTMENTS COMPANY AND SEI DAILY INCOME TRUST PRIME OBLIGATION FUND.
MULTIPLE DRAWINGS ARE ALLOWED.
132211 Lashonda R. Wilson | Page 2 of 3 |
JPMorgan Chase Bank, N.A.
c/o JPMorgan Treasury Services
Global Trade Services
10420 Highland Manor Drive
Tampa, FL 33610
NOV 8, 2007
OUR L/C NO.: TPTS-233774
PAYMENT WILL BE EFFECTED IN IMMEDIATELY AVAILABLE FUNDS BY THE NEXT BUSINESS DAY UPON RECEIPT OF PRESENTATION OF DOCUMENTS IN COMPLIANCE WITH THE LETTER OF CREDIT TERMS AT OUR ADDRESS SPECIFIED BELOW.
ALL CORRESPONDENCE AND ANY DRAWINGS HEREUNDER ARE TO BE DIRECTED TO:
JPMORGAN CHASE BANK, N.A.
C/O JPMORGAN TREASURY SERVICES
ATTENTION: STANDBY LETTER OF CREDIT DEPARTMENT, 4TH FLOOR
10420 HIGHLAND MANOR DRIVE
TAMPA, FLORIDA 33610
CUSTOMER INQUIRY NUMBER IS ###-###-#### CHOOSE OPTION 1. CUSTOMER INQUIRY E-MAIL ADDRESS IS: ***@***. PLEASE HAVE OUR REFERENCE NUMBER AVAILABLE WHEN YOU CONTACT US.
WE HEREBY AGREE WITH YOU THAT DRAFTS DRAWN UNDER AND IN COMPLIANCE WITH THE TERMS AND CONDITIONS OF THIS LETTER OF CREDIT WILL BE DULY HONORED.
THE NUMBER AND THE DATE OF OUR CREDIT AND THE NAME OF OUR BANK MUST BE QUOTED ON ALL DRAFTS REQUIRED.
THIS IRREVOCABLE STANDBY LETTER OF CREDIT SHALL BE SUBJECT TO THE INTERNATIONAL STANDBY PRACTICES (1998), INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO. 590.
THIS LETTER OF CREDIT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS.
/s/ Vera Kostic |
AUTHORIZED SIGNATURE |
Vera Kostic |
Assistant Vice President |
132211 Lashonda R. Wilson | Page 3 of 3 |