OPINION
TALLMAN, Circuit Judge:
Appellant Tri-County Metropolitan Transportation District of Oregon ("TriMet") provides bus, light rail, and commuter rail service in the Portland metropolitan area. TriMet contracted with Colorado Railcar Manufacturing, LLC ("Colorado Railcar") for the manufacture of light railcars. The contract ("Railcar Contract") required Colorado Railcar to secure a $3 million standby letter of credit, which Colorado Railcar arranged...
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