TO : HSBC BANK (CHILE)

SWIFT : ………………………

BY ORDER OF OUR CLIENT, ………………….., WE HEREBY ISSUE OUR CLEAN

IRREVOCABLE STANDBY LETTER OF CREDIT NO. ________, IN FAVOR OF
HSBC BANK (CHILE) IN AN AMOUNT(S) NOT TO EXCEED IN THE
AGGREGATE USD……………...- (……………/100 UNITED STATES DOLLARS),
EFFECTIVE IMMEDIATELY AND EXPIRING AT OUR OFFICE ON ……………..

WE HEREBY UNDERTAKE WITH HSBC BANK (CHILE) TO HONOR AT SIGHT

EACH OF YOUR DRAWING UNDER AND IN COMPLIANCE WITH THE TERMS
OF THIS LETTER OF CREDIT NO. _____UP TO THE AGGREGATE AMOUNT OF
USD ………...- (………………../100 UNITED STATES DOLLARS), UPON
RECEIPT OF A AUTHENTICATED SWIFT MESSAGE, AT THIS OFFICE, ON OR
BEFORE THE EXPIRATION DATE, STATING THAT:

QUOTE
…………[DEUDOR]…………… HAS FAILED TO PAY WHEN DUE ANY AMOUNT
(INCLUDING CAPITAL, INTEREST ACCRUED AND ANY OTHER FEES, COSTS,
TAXES, ETC.) PAYABLE UNDER A CERTAIN CREDIT AGREEMENT EXECUTED
ON …….[FECHA] ……. AMONG ……. [DEUDOR]…. AS BORROWER AND
HSBC BANK (CHILE)
UNQUOTE

PARTIAL DRAWINGS SHALL BE PERMITTED HEREUNDER. ANY DRAWINGS

HEREUNDER SHALL REDUCE THE STATED AMOUNT OF THIS LETTER OF
CREDIT. THIS LETTER OF CREDIT MAY NOT BE TRANSFERRED OR
ASSIGNED WITHOUT OUR WRITTEN CONSENT.

WE HEREBY ENGAGE WITH YOU THAT DRAWINGS MADE UNDER AND IN

CONFORMITY WITH THIS STANDBY LETTER OF CREDIT WILL BE DULY
HONORED IF RECEIVED BY US ON OR BEFORE THE EXPIRY DATE AND
PAYMENT WILL BE EFFECTED TO YOU IN ACCORDANCE WITH YOUR
INSTRUCTIONS SPECIFIED IN YOUR AUTHENTICATED SWIFT MESSAGE NOT
LATER THAN TWO BANKING DAYS AFTER YOUR AUTHENTICATED SWIFT
MESSAGE DATE.

THIS LETTER OF CREDIT SETS FORTH IN FULL OUR UNDERTAKING, AND

SUCH UNDERTAKING SHALL NOT IN ANY WAY BE MODIFIED, AMENDED,
AMPLIFIED OR LIMITED BY REFERENCE TO ANY DOCUMENT, INSTRUMENT
OR AGREEMENT REFERRED TO HEREIN (INCLUDING, WITHOUT LIMITATION,
THE LOAN AGREEMENT); AND ANY SUCH REFERENCE SHALL NOT BE
DEEMED TO INCORPORATE HEREIN BY REFERENCE ANY DOCUMENT,
INSTRUMENT OR AGREEMENT.

ALL CHARGES INCURRED BY HSBC BANK (CHILE) ARE FOR THE

APPLICANTS ACCOUNT.
 THIS STANDBY DOCUMENTARY CREDIT IS SUBJECT TO THE INTERNATIONAL
STANDBY PRACTICES 1998, INTERNATIONAL CHAMBER OF COMMERCE
PUBLICATION NO. 590 (“ISP98”)