Irrevocable Standby Letter of Credit

New L.O.C. No. 

Issue Date / / 

Amount $ 

Renewal of Expiration Date / / 

Substitution for L.O.C. No. 

From Bank 

Please check appropriate boxes 

Ohio Department of Natural Resources 

Division of Mineral Resources Management 

2045 Morse Road, Bldg. H-3 

Columbus, OH 43229-6693 

Irrevocable Standby Letter of Credit 

Coal Mining 

Beneficiary: 

Ohio Department of Natural Resources 

Division of Mineral Resources Management 

2045 Morse Road, Bldg. H-3 

Columbus, OH 43229-6693 

Applicant: 

Phone 

, located at ; ; 

(Name of Financial Institution) (Address) (City/State/ Zip) 

, hereby establish our Irrevocable Standby Letter of Credit No. in your favor 

(Telephone) 

and agree to pay the State of Ohio, Department of Natural Resources, Division of Mineral Resources Management, upon receipt of a 

written demand by the Chief of the Division of Mineral Resources Management, up to an aggregate amount of 

dollars ($ 

) when such written demand is accompanied by a 

written statement signed by the Chief, that: 

1. The coal mine permittee, has not faithfully 

performed all requirements of Chapter 1513. of the Revised Code, rules adopted pursuant thereto, 

or the provisions of the operator’s permit and mining and reclamation plan pursuant to: 

(Check one and complete the necessary identification number) 

Coal Mining Permit No. 

Permit Application No. 

Adjacent Area Application No. 

Incidental Boundary Revision No. 

or; 

or; 

or; 

or, 

Any area of land immediately adjacent to the permit area or adjacent area permit whether or not such areas are 

mined pursuant to a valid permit. 

2. The coal mine permittee, has failed to replace performance security 

coverage in accordance with the provisions of Rule 1501:13-7-03 (B)(7)(b) of the Administrative Code on or before the 

thirtieth (30 th ) day prior to the expiration of this letter of credit. 

This letter of credit is effective , 20 , and will expire at the close of business on , 

20 ; but such expiration date will automatically be extended for periods of not less than twelve (12) months from any scheduled 

expiration date (as originally scheduled or automatically extended) unless the Chief of the Division of Mineral Resources Management is 

notified by the bank, by certified or registered mail sixty (60) days prior to the expiration date, that the bank does not intend to extend this 

letter of credit beyond the current expiration date. 

The issuing bank will give prompt written notice to the permittee and to the Chief of the Division of Mineral Resources Management and 

to the Office of Surface Mining Reclamation and Enforcement of any notice received or action filed alleging the insolvency or bankruptcy 

of the Bank, or alleging any violations of regulatory requirements which could result in suspension or revocation of the Bank’s charter or 

license to do business. 

In the event the issuing Bank becomes unable to fulfill its obligations under this letter of credit for any reason, written notice shall be given 

immediately to the permittee and the Chief of the Division of Mineral Resources Management. 

Revised 06/12 

DNR-744-9054

We hereby agree that drafts drawn under and in strict compliance with the terms of this credit will be duly honored by us upon 

presentation at 

on or before the close of business on / / or automatically extended date of expiration. 

This credit is subject to the most recent edition of the "Uniform Customs and Practice for Documentary Credits” published by the 

International Chamber of Commerce. 

Signed: 

Name of Issuing Bank (Please type or print) 

Signature of Authorized Officer of Issuing Bank 

Name of Authorized Officer of Issuing Bank 

(Print) 

Official Position 

(Please Print) 

ss: 

Sworn to before me and subscribed in my presence 

this DAY OF , 20 . 

Contact Phone Number- * must be completed 

___________________________________________ 

(Notary Public) 

Revised 06/12 

DNR-744-9054

Irrevocable Standby Letter of Credit

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?