ML20195F374

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Refers to 970207 Telcon with J Mullauer of NRC Re Ltr of Credit 918896A Received by NRC on 961213.NRC Understands That Version of Ltr of Credit Not Intended for NRC Review & Sent by Mistake.Cancelled Ltr of Credit 918896 Encl
ML20195F374
Person / Time
Issue date: 02/20/1997
From: Holt B
NRC OFFICE OF INSPECTION & ENFORCEMENT (IE REGION III)
To: Herzberger T
AFFILIATION NOT ASSIGNED
Shared Package
ML20150F157 List:
References
FOIA-98-329 NUDOCS 9811190249
Download: ML20195F374 (6)
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Text

_

mco UNITED STATES

,_ ,,% NUCLEAR REGULATORY COMMISSION g S REGION 111

( 3 [ 801 WARRENVILLE ROAD

%, f uSLE. ILLINOIS 60532-4351 I

Terry Herzberger Radiation Safety Officer CSM Industries 21801 Tungsten Road  ;

Euclid, OH 44117-1117 l

Dear Mr. Herzberger:

)

l This refers to the telephone conversation between you and James Mullauer of my staff on l February.7,1997, concerning your Letter of Credit No. 918896A'which was received by )

NRC on December 13,1996. It is our understanding that this version of your Letter of i Credit was not intended for NRC review and was sent to NRC by mistake. Further, it is our understanding that the revised Letter of Credit No. 918896 was labelled Amendment No. 01 to distinguish it frorn the original submittal that contained errors. As you requested, enclosed is the cancelled Letter of Credit No. 918896A. We will advise you of our review of your Letter of Credit No. 918896, Amendment No. 01 in the near future.

If our understanding is different than yours concerning these matters, please contact James R. Mullauer at (630) 829-9873.

Sincerely,

/

) ,

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B. J. Holt, Chief Nuclear Materials Licensing Branch

Enclosure:

Letter of Credit received 12/13/96 cc: Ginger Downs Vice President Nations Bank Business Credit 100 South Charles St.

MD4-325-04-14 Baltimore, Maryland 21201-2725

[ 9811190249 981109

, PDR FOIA CHOATE98-329 PDR  : <

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I l Terry Herzberger l Radiation Safety Officer CSM Industries 21801 Tungsten Road l Euclid, OH 44117-1117 1-i . m.

Dear Mr. Herzberger:

l This refers to the telephone conversation between you and James Mullauer of my staff on February 7,1997, concerning your Letter of Credit No. 918896A which was received by NRC on December 13,1996. It is our understanding that this version of your Letter of Credit was not intended for NRC review and was sent to NRC by mistake. Further, it is .

J our understanding that the revised Letter of Credit No. 918896 was labelled Amendment '

l No. 01 to distinguish it from the original submittal that contained errors. As you l requested, enclosed is the cancelled Letter of Credit No. 918896A. We will advise you of ,

our review of your Letter of Credit No. 918896, Amendment No. 01 in the near future. l l

If our understanding is different than yours concerning these matters, please contact  !

James R. Mullauer at (630) 829-9873.

Sincerely, l Original Signed By B. J. Holt, Chief Nuclear Materials Licensing Branch

Enclosure:

Letter of Credit received 12/13/96 cc: Ginger Downs Vice President Nations Bank Business Credit 100 South Charles St.

MD4-325-04-14 Baltimore, Maryland 21201-2725 l DOCUMENT NAME: M:\04008155.DF7 To receive a copy of this document, indicate in the box: "C" = Copy without attachment / enclosure "E" =

l Copy with attacpment/ enclosure "N" = No copy

! OFFICE DNMS//1}ll l DNMS/Rillo l6 DNMS/ Rill, 3 [,, l l l NAME JRM6flauer:brt CFFrazic6ff BJHolt M//

DATE O2CI)/97 02/ .h /97 02/p-/9V j OFFICIAL RECORD COPY l

I l

KNationoBazk' 1

l ISSUING BANK l NATIONS 8ANK, H.A. l BALTIMORE, MARYLAND l

- s.

ISSUING DATE: NOVEMBER 21, 1996 )

STANDBY LETTER OF CREDIT NO. 918896A I EXPIRATION DATE: NOVEMBER 21, 1997 APPLICANT: CSM INDUSTRIES, INC.

21801 TUNGSTEN RD '

EUCLID, OH 44117 BENEFICIARY: ,

UNITED STATES NUCLEAR REGULATORY COMMISSI RE III 27 801 WARRENVILLE RD )$

LISLE ILLINOIS 60532-4351 _

7 GENTLEMEN, ,VM l WE HEREBY ESTABLISH OUR IRR V ;A STANDBY _'ER T OF CREDIT NO.

918896A IN YOUR FAVOR AT TF EST AND F s THE ACCOUNT OF CSM I INDUSTRIES, INC. TO THE ATE AMOUN F US$400,000.OO, (USD FOUR HUNDRED THOUSAN O/100) AV ABLE UPON PRESENTATION OF:

1. YOUR SIGHT DP EARING REF ENCE TO THIS LETTER OF CREDIT
NO.918896, AND
2. YOUR SIGNED STATEMENT ADING AS FOLLOWING:"I CERTIFY THAT THE AMOUNT OF THE DRAFT IS AYABLE PURSUANT TO REGULATIONS ISSUED UNDER AUTHORITY OF T U.S. NUCLEAR REGULATORY COMMISSION".

THIS LETTER OF CREDIT IS ISSUED IN ACCORDANCE WITH REGULATIONS ISSUED UNDER THE AUTHORITY OF THE U.S. NUCLEAR REGULATORY COMMISSION (NRC), AN AGENCY OF THE U.S. GOVERNMENT, PURSUANT TO THE ATOMIC ENERGY ACT OF 1954 AS AMENDED, AND THE ENERGY REORGANIZATION ACT OF 1974. NRC HAS PROMULGATED REGULATIONS IN TITLE 10, CHAPTER I OF THE CASE OF FEDERAL REGULATIONS, PART 40, WHICH REQUIRE THAT A HOLDER OF, OR AN APPLICANT FOR A LICENSE ISSUED UNDER 10 CFR PART 40, PROVIDE ASSURANCE THAT FUNDS WILL BE AVAILABLE WHEN NEEDED FOR DECOMMISSIONING.

THIS LETTER OF CREDIT IS EFFECTIVE AS OF NOVEMBER 21, 1996 AND SHALL EXPIRE ON-NOVEMBER 21,1997, BUT SUCH EXPIRATION DATE SHALL BE AUTOMATICALLY EXTENDED FOR A PERIOD OF 1 YEAR ON NOVEMBER 21, 1997 AND ON EACH SUCCESSIVE EXPIRATION DATE, UNLESS, AT LEAST 90 DAYS BEFORE THE CURRENT EXPIRATION DATE, WE NOTIFY BOTH YOU AND CSM INDUSTRIES, INC. BY CERTIFIED MAIL AS SHOWN ON I THE SIGNED RETURN RECEIPTS. IF CSM INDUSTRIES, INC. IS UNABLE TO SECURE ALTERNATIVE FINANCIAL ASSURANCE TO REPLACE THIS LETTER OF RECEIVED CREDIT WITHIN 30 DAYS OF NOTIFICATION OF CANCELLATION, THEN NRC MAY DRAW UPON THE FULL VALUE OF THIS LETTER OF CREDIT PRIOR TO DEC 131996 CANCELLATION. THE BANK SHALL GIVE IMMEDIATE NOTICE TO THE IRREVOCABLE STANDBY LETTER OF CREDIT NO. 918896A, PAGE 1

~

NaticacBank' .

APPLICANT AND THE "NRC" OF ANY NOTICE RECEIVED OR ACTION FILED ALLEGING (1) THE INSOLVENCY OR BANKRUPTCY OF THE FINANCIAL INSTITUTION OR (2) ANY VIOLATIONS OF REGULATORY REQUIREMENTS THAT COULD RESULT IN SUSPENSION OR REVOCATION OF THE BANK'S CHARTER OR  ;

LICENSE TO DO BUSINESS. THE FINANCIAL INSTITUTION ALSO SHALL GIVE IMMEDIATE NOTICE IF THE BANK, FOR ANY REASON, BECOMES UNABLE TO FULFILL ITS OBLIGATION UNDER THE LETTER OF CREDIT NO. 918896A.

i WHENEVER THIS LETTER OF CREDIT IS DRAWN ON UNDER AND IN I COMPLIANCE WITH THE TERM OF THIS LETTER OF CREDIT, WE SHALL DULY l HONOR SUCH DRAFT UPON ITS PRESENTATION TO US WITHIN 30 DAY l SHALL DEPOSIT THE AMOUNT OF THE DRAFT DIRECTLY INTO THE

^

I l

TRUST FUND OF CSM INDUSTRIES, INC. WHICH IS MAINTAIN E STREET BANK & TRUST, CO. CORPORATE TRUST DEPT. L AT 2 INTERNATIONAL PLACE, 4TH FL., BOSTON, MA, 02110 DAt j WITH YOUR INSTRUCTIONS.

Y. sf }- }4 [

EACH DRAFT MUST BEAR ON ITS FACE E: DR i LETTER OF CREDIT NO. 918896A DATED NO K 1, 1996 j4D ANE TOTAL OF THIS DRAFT AND ALL OTHER gkA PREVIOUSLY f RWN UNDER THIS ,

LETTER OF CREDIT DOES NO 'CkE US$ FOUR RED THOUSAND AND 00/100. A&'

THIS LETTER OF CREL S SUBJECT TS iHE UCP 1993 REVISION OF THE ICC PUBLICATION NO.500.

THIS LETTER OF CREDIT NO /18896A REPLACES OUR PREVIOUS LETTER OF CREDIT NO. 918896 ISS ON NOVEMBER 12, 1996. ANY DRAWINGS PRESENTED AGAINST OUR LETTER OF CREDIT NO. 918896A MAKES OUR LETTER OF CREDIT NO. 918896 NULL AND VOID.

VERY TRULY YOURS, NATIONSBANK, N.A.

/71 0 r 1 GINER NS VICE P -SIDENT DECEMBER 12, 1996 FOR ASSISTANCE PLEASE CALL BARRARA TEAGUE AT 214-508-3097 l

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