Re:

I believe the amount should be calculated through the date of funding. Will
closing and funding take place tomorrow, or will funding be a day later?

Kay

From: Rebecca Walker 12/19/2000 03:24 PM

To: Kay Mann/Corp/Enron@Enron
cc: Catherine Clark/HOU/ECT@ECT

Subject:

Kay

For ESA to exercise its LM 6000 purchase option, it must pay the Option
Exercise Price of $101,249,431 (per section 3A of the Option Agreement) plus
an additional charge of $21,500 per day for each day after November 22d (per
section 3B of the Option Agreement). If the option is exercised on December
20th, the total amount to be paid would be:

Option Exercise Price $101,249,431
Plus: Additional Costs: $21,500 per day x 28 days = $ 602,000
Option Exercise Price plus Additional Costs $101,851,431

Thanks,
Rebecca
x57968