An irrevocable standby letter of credit issued by BNP Paribas London Branch further to a construction agreement under the CUSC for an amount of £391,616.75, expiring on 31 March 2016 in relation to BOWL in favour of National Grid Electricity Transmission plc. The letter of credit was issued on 17 February 2014 and amended on 24 July 2015. In a table which has been uploaded by Repsol, they have noted that effective from 01 April 2016, the amount of this guarantee will be £215,216.25.