Quantity Delivered. (a) The quantity of the energy delivered shall be calculated in accordance with the formula provided in ISO 10976 and the latest edition of the LNG Custody Transfer Handbook as published by GIIGNL. (b) For the purpose of this calculation the quantity of energy is expressed in MMBtus, rounded to two (2) decimal places. From: Issuing Bank To: Advising Bank Dear Sirs, By order of and for the account of [ ] (“Applicant"), we hereby issue our irrevocable Standby Letter of Credit No. [ ] (the “Standby Letter of Credit”) in favour of [ ] (“Beneficiary”). This Standby Letter of Credit shall be issued for value of up to [USD] [ ] valid for the period commencing on [ ] and expiring on [ ], and shall be available for payment at the counters of the Advising Bank at sight against the following documents: a. A copy of a signed demand from the Beneficiary which shall include a statement that the amount demanded represents a payment which has not been made to the Beneficiary by the Applicant within the terms of the respective LNG Master Sale and Purchase Agreement and/or Confirmation Notice(s) between the Beneficiary and the Applicant and which is legally and properly past due; and b. A copy of the unpaid commercial invoice(s). Special Conditions:
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Sources: Sale and Purchase Agreement, Sale and Purchase Agreement