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Enron Mail |
Looks like the changes are relatively minor, but I feel better!
---------------------- Forwarded by Kay Mann/Corp/Enron on 11/21/2000 03:40 PM --------------------------- "William J. Harmon" <wjharmon@JonesDay.com< on 11/21/2000 02:51:55 PM To: "Boyd J. Springer" <bjspringer@JonesDay.com< cc: gregg.penman@enron.com, Kay.Mann@enron.com Subject: Re: Peoples Transaction Attached is the "term sheet" with some suggested revisions (identified by strikethrough and underlining). We suggest that you simply call the "late charges" interest rather than any other term. This type of business transaction is exempt from the usury statute in terms of any maximum rate and thus it is best to make it clear that the late charge is "interest" rather than something else. The other changes I made were merely to clarify the method of calculating the interest on overdue amounts. I note the the contract you provided does include a provision for interest on overdue invoice amounts. Under the contract, interest is the Citibank prime rate. I assume you will set this term sheet up as an amendment to the agreement. (See attached file: Payment Delay Term Sheet.doc) Please contact us if there are any other questions. Bill Harmon wjharmon@jonesday.com 312-269-4160 Fax: 312-782-8585 Boyd J. Springer Extension 54151 To: Kay.Mann@enron.com cc: gregg.penman@enron.com, 11/21/00 11:52 William J. Harmon/JonesDay@JonesDay AM Subject: Re: Peoples Transaction (Document link: William J. Harmon) Kay: Bill Harmon from our office (312-269-4160) is reviewing the material re deferred payment and will get back to you. ========== The preceding e-mail message (including any attachments) contains information that may be confidential, be protected by the attorney-client or other applicable privileges, or constitute non-public information. It is intended to be conveyed only to the designated recipient(s). If you are not an intended recipient of this message, please notify the sender by replying to this message and then delete it from your system. Use, dissemination, distribution, or reproduction of this message by unintended recipients is not authorized and may be unlawful. ========== ========== The preceding e-mail message (including any attachments) contains information that may be confidential, be protected by the attorney-client or other applicable privileges, or constitute non-public information. It is intended to be conveyed only to the designated recipient(s). If you are not an intended recipient of this message, please notify the sender by replying to this message and then delete it from your system. Use, dissemination, distribution, or reproduction of this message by unintended recipients is not authorized and may be unlawful. ========== - Payment Delay Term Sheet.doc
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