DEMAND FOR SIGHT PAYMENT
To: [Name of Issuer]
[Address]
Attn: [•]
Re: Irrevocable Standby Letter of Credit No. [•]
The undersigned, a duly authorized officer of [Agency], a [description of Agency], with its principal office at [•], Philippines (together with its successors and assigns in such capacity, "Agency") make reference to the Bulk Water Supply Agreement dated as of [•] between Agency and [Company], a corporation duly organized and existing under the laws of [•], having its principal office at [•], Philippines ("Company") (the "Agreement").
1. Agency hereby demands payment (the "Drawing") under the Letter of Credit in the aggregate amount of [•] Pesos (PHP [•]) in order to satisfy liabilities of Company under the Agreement for one or more of the following reasons:
(a) [•]; and/or
(b) [•]; and/or
(c) Issuer has notified Agency pursuant to Section 6 of the Letter of Credit that Issuer will not extend the Expiration Date (as defined in the Letter of Credit) and Agency is entitled to draw the full Stated Amount.
2. The amount of the Drawing does not exceed the Stated Amount, as the Stated Amount has been reduced by all prior Drawings made under the Letter of Credit and honored by Issuer.
Please wire transfer the amount of the Drawing to [account details to be inserted by Agency] (the "Designated Account").