ML25113A249
| ML25113A249 | |
| Person / Time | |
|---|---|
| Site: | Framatome ANP Richland |
| Issue date: | 03/25/2025 |
| From: | Mirza A, Morrissey C Natixis Corporate & Investment Banking |
| To: | Office of Nuclear Material Safety and Safeguards |
| References | |
| Download: ML25113A249 (1) | |
Text
25 MARCH 2025 BENEFICIARY:
U.S. NUCLEAR REGULATORY COMMISSION WASHINGTON, DC 20555 DEAR SIR OR MADAM:
WE, NATIXIS NEW YORK BRANCH ('BANK'), HEREBY ESTABLISH OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO.SB-59713 IN YOUR FAVOR, AT THE REQUEST AND FOR THE ACCOUNT OF FRAMATOME SAS, ON BEHALF OF FRAMATOME INC, 3315 OLD FOREST ROAD, LYNCHBURG, VA 24501, USA, UP TO THE AGGREGATE AMOUNT OF USD 9,328,000.00 (NINE MILLION THREE-HUNDRED TWENTY-EIGHT THOUSAND USD/00),
AVAILABLE UPON PRESENTATION OF:
- 1. YOUR SIGHT DRAFT, BEARING REFERENCE TO THIS LETTER OF CREDIT NO. SB-59713 AND
- 2. YOUR STATEMENT PURPORTEDLY SIGNED BY YOURSELVES READING AS FOLLOWS:
'I CERTIFY THAT THE AMOUNT OF THE DRAFT IS PAYABLE PURSUANT TO REGULATIONS ISSUED UNDER AUTHORITY OF U.S. NUCLEAR REGULATORY COMMISSION.'
THIS LETTER OF CREDIT IS ISSUED IN ACCORDANCE WITH THE 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. THE NRC HAS PROMULGATED REGULATIONS IN TITLE 10, CHAPTER I OF THE CODE OF FEDERAL REGULATIONS, PART 70, WHICH REQUIRE THAT A HOLDER OF, OR AN APPLICANT FOR, A LICENSE ISSUED UNDER 10 CFR PART 70 PROVIDE ASSURANCE THAT FUNDS WILL BE AVAILABLE WHEN NEEDED FOR DECOMMISSIONING.
THIS LETTER OF CREDIT IS EFFECTIVE AS OF 25 MARCH 2025 AND SHALL EXPIRE ON DECEMBER 31ST, 2025, BUT SUCH EXPIRATION DATE SHALL BE AUTOMATICALLY EXTENDED FOR A PERIOD OF ONE YEAR ON 31 DECEMBER 2025 AND ON EACH SUCCESSIVE EXPIRATION DATE, UNLESS, AT LEAST 90 DAYS BEFORE THE CURRENT EXPIRATION DATE, WE NOTIFY BOTH YOU AND FRAMATOME INC., BY CERTIFIED MAIL, AS SHOWN ON THE SIGNED RETURN RECEIPTS. IF FRAMATOME INC. IS UNABLE TO SECURE ALTERNATIVE FINANCIAL ASSURANCE TO REPLACE THIS LETTER OF CREDIT WITHIN 30 DAYS OF OUR NOTIFICATION OF CANCELLATION, THE NRC MAY DRAW UPON THE FULL VALUE OF THIS LETTER OF CREDIT PRIOR TO CANCELLATION. THE BANK SHALL GIVE IMMEDIATE NOTICE TO FRAMATOME INC. AND NRC OF ANY NOTICE RECEIVED OR ACTION FILED ALLEGING (L) THE INSOLVENCY OR BANKRUPTCY OF THE BANK OR (2) ANY VIOLATION OF REGULATORY REQUIREMENTS THAT COULD RESULT IN SUSPENSION OR REVOCATION OF THE BANKS CHARTER OR LICENSE TO DO BUSINESS. THE BANK ALSO SHALL GIVE IMMEDIATE NOTICE IF THE BANK FOR ANY REASON, BECOMES UNABLE TO FULFILL ITS OBLIGATION UNDER THIS LETTER OF CREDIT.
WHENEVER THIS LETTER OF CREDIT IS DRAWN ON UNDER AND IN COMPLIANCE WITH THE TERMS OF THIS LETTER OF CREDIT, WE SHALL DULY HONOR SUCH DRAFT UPON ITS PRESENTATION TO US WITHIN 30 DAYS, AND WE SHALL DEPOSIT THE AMOUNT OF THE DRAFT DIRECTLY INTO THE STANDBY TRUST FUND OF FRAMATOME INC. IN ACCORDANCE WITH YOUR INSTRUCTIONS.
NATIXIS NEW YORK BRANCH 1251 AVENUE OF THE AMERICAS, 3RD FLOOR, NEW YORK, NY 10020 - TEL. 212-872-5000 -
FAX 201-761-6936
EACH DRAFT MUST BEAR ON ITS FACE THE CLAUSE: 'DRAWN UNDER LETTER OF CREDIT NO.SB-59713, DATED 25 MARCH 2025 AND THE TOTAL OF THIS DRAFT AND ALL OTHER DRAFTS PREVIOUSLY DRAWN UNDER THIS LETTER OF CREDIT DOES NOT EXCEED USD 9,328,000.00.'
THIS LETTER OF CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS, 2007 REVISION, PUBLISHED BY THE INTERNATIONAL CHAMBER OF COMMERCE, PUBLICATION NO. 600.
VERY TRULY YOURS, NATIXIS NEW YORK BRANCH CHRYLDINE MORRISSEY/ASSOCIATE AIJAZ MIRZA/ASSOCIATE AUTHORIZED SIGNATURE AUTHORIZED SIGNATURE NATIXIS NEW YORK BRANCH 1251 AVENUE OF THE AMERICAS, 3RD FLOOR, NEW YORK, NY 10020 - TEL. 212-872-5000 -
FAX 201-761-6936