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Enron Mail |
Dick,
I'll forward you the copy of the contract on a separate email. I do not know if there are any additional insurance requirements specified by the lenders. Kay Richard Vincent 12/14/2000 10:40 AM To: Kay Mann/Corp/Enron@Enron, Catherine Clark/HOU/ECT@ECT cc: Cheryl Lipshutz/HOU/ECT@ECT Subject: Re: Elektrobolt LM6000 Insurance I just got off the phone with Rob Taylor with A-K. He recommended I write to both of you as you two could provide the information requested below. As closing is set for Tuesday, Lenders will want a certificate of insurance for these LM6000 turbines. No Brazilian Elektrobolt project insurance is in place as it is not required at this time so we will try to issue certificates under the Enron Corp. program for these while they are still located in the States. Once they are loaded on the vessel, the project specific cargo policy will go into effect. I need any insurance requirements in any contracts pertaining to these turbines. I have seen none so far. I will also need exact wording to put on the certificates of insurance with respects to the names of all loss payees and are they named and waived. As this is a short time frame, please answer the information below today if possible as I need it before I can proceed any further. Depending on the data, hopefully we can utilize the Enron Corp. program in the interim. If not, we will need to secure interim coverage and that could take some time. Also please send me any supporting data, such as insurance language, you have available. Dick 3-6102 ---------------------- Forwarded by Richard Vincent/NA/Enron on 12/14/2000 10:26 AM --------------------------- Richard Vincent 12/14/2000 07:19 AM To: Cheryl Lipshutz/HOU/ECT@ECT cc: Joshua King/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Peter N Anderson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Roseann Engeldorf/Corp/Enron@ENRON, Tracee Bersani/HOU/ECT@ECT, Cliff Shedd/NA/Enron@Enron Subject: Re: Elektrobolt PRI I thought you were going to give them the EXHIBIT G's. As I am handling this as three separate projects and you are dealing with it as one, I need to know exactly what you need. Is it to evidence the property for the LM6000's? I need the specifics then I can see what exactly they need. Again, the Exhibit G's for all practical purposes will serve as summaries as no project coverage is in place. I did write you earlier this week after the phone conference advising that if required to place interim coverage or access the Corp. program we would do so upon notification of the exact insurance requirements for same. I need to know the following. Where are the LM6000's How many are they? What is their value, each? Who has title? Who has risk of loss? In what contract are the insurance requirements? Can somebody forward me same? How long will stored at their present location? Where are they headed after that? As I said in the phone conference, Project Insurance will not begin until they leave the States since the Project insurance will be issued in Brazil under Brazilian Insurance Regulations. If coverage is needed here, I will secure same or access the Corp Program. I need specifics. Dick From: Cheryl Lipshutz@ECT on 12/13/2000 05:38 PM To: Cliff Shedd/NA/Enron@ENRON, Richard Vincent/NA/Enron@Enron cc: Joshua King/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Peter N Anderson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Roseann Engeldorf/Corp/Enron@ENRON, Tracee Bersani/HOU/ECT@ECT Subject: Re: Elektrobolt PRI CLiff & Dick, We have just hung up with the equity to go over & decision alot of documentation issues they had. One thing they will require by closing is something evidencing that they are co-insured under all insurance at closing. They were most concerned about coverage for the LM 6000's. Dick, they also asked where the summary of insurance you had promised on the phone with them on Monday was. Could you let me know your time frame. The sooner we get that to them, the better. Thanks for all of your help! Cliff Shedd@ENRON 12/13/2000 03:08 PM To: Cheryl Lipshutz/HOU/ECT@ECT cc: Joshua King/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT@ECT, Peter N Anderson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT@ECT, Roseann Engeldorf/Corp/Enron@ENRON, Tracee Bersani/HOU/ECT@ECT Subject: Re: Elektrobolt PRI Cheryl - The amount is $264 million - sorry for lack of clarity. Cliff From: Cheryl Lipshutz@ECT on 12/13/2000 02:28 PM To: Cliff Shedd/NA/Enron@ENRON cc: Joshua King/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Peter N Anderson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Roseann Engeldorf/Corp/Enron@ENRON, Tracee Bersani/HOU/ECT@ECT Subject: Re: Elektrobolt PRI Cliff, Is the amount $264,000,000 or $264,000? Cliff Shedd@ENRON 12/13/2000 12:39 PM To: Joshua King/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Tracee Bersani/HOU/ECT@ECT, Cheryl Lipshutz/HOU/ECT@ECT, Roseann Engeldorf/Corp/Enron@ENRON, Peter N Anderson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: Elektrobolt PRI Elektrobolt Team - I have received confirmation, verbally and by fax, from our London brokers that the Elektrobolt PRI Declaration and Endorsement have been bound in the amount of $264M, pursuant to the terms of Enron's Master PRI Policy. Cliff
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