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Enron Mail |
Ben:
See the email below from Rebecca to Catherine Clark. Rebecca informed me a few minutes ago that Catherine is planning to speak with Peter Anderson (ESA Corporate Finance) and make it clear to him that ESA is responsible for paying the Execution Amount (already determined in the Agreement) plus the interest cost ($21,500 per day) until the day on which funding occurs. If the transaction closes & funds tomorrow as expected, ESA's interest payment will be based upon 28 days. If for some reason the funding is delayed, ESA will be responsible for the additional interest cost until funding occurs. Catherine believes that if ESA delivers their notice to close [as expected] by 9:30 am tomorrow morning, then there is a high likelihood that closing and funding will occur tomorrow. Rebecca and Catherine believe, and I concur, that this information is best delivered verbally directly to ESA's finance person (Peter Anderson). Call me tonight at home if you wish to discuss. Fred ---------------------- Forwarded by Fred Mitro/HOU/ECT on 12/19/2000 06:34 PM --------------------------- Enron North America Corp. From: Rebecca Walker @ ENRON 12/19/2000 05:49 PM To: Catherine Clark/HOU/ECT@ECT cc: Fred Mitro/HOU/ECT@ECT Subject: Funding/Closing of ESA Catherine Ben is concerned that ESA may not be funded on the same day it is closed (tomorrow), and that ENA will end up paying the $21,500 in interest for each day between closing and funding. By what time tomorrow must everything be executed/wired to ensure that funding and closing both take place tomorrow? Please include Fred Mitro on future correspondance about this deal. He is working with Kay Mann on both this deal and the Coral energy deal while Ben is out of the office. Thanks, Rebecca
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