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Enron Mail |
Kay and Carlos:
Greg Lang advises that they are targeting a financial closing with their lenders on Thursday, April 19. If this bears out, the escrow would be funded three business days later, on Tuesday, April 24. However, ENA can terminate the letter agreement if the escrow is not funded on or before Friday, April 20. Therefore, PPL may (although I have not confirmed their intent in this regard) fund the escrow immediately following their financial closing, rather than waiting the three business days. They are proceeding under the assumption that an acceleration of payments to GE will be negotiated. If not, Plan B (the "non-disturbance" lien) requires additional documentation with their lenders and with ENA that may result in some delay. Resolution of this issue is obviously critical to the timetable. Let me know if you have any questions or comments. Thanks. Carolyn M. Campbell King & Spalding 713-276-7307 (phone) 713-751-3280 (fax) ccampbell@kslaw.com <mailto:ccampbell@kslaw.com< Confidentiality Notice This message is being sent by or on behalf of a lawyer. It is intended exclusively for the individual or entity to which it is addressed. This communication may contain information that is proprietary, privileged or confidential or otherwise legally exempt from disclosure. If you are not the named addressee, you are not authorized to read, print, retain, copy or disseminate this message or any part of it. If you have received this message in error, please notify the sender immediately by e-mail and delete all copies of the message.
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