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Enron Mail |
I asked Fred to check into what it would take to have Enron set up a third
party escrow arrangement. Kay ---------------------- Forwarded by Kay Mann/Corp/Enron on 12/22/2000 09:15 AM --------------------------- Fred Mitro@ECT 12/22/2000 08:59 AM To: Kay Mann/Corp/Enron@Enron cc: Raimund Grube/Corp/Enron@ENRON, Ben Jacoby/HOU/ECT@ECT, Rebecca Walker/NA/Enron@Enron, Mary Perkins/HOU/ECT@ECT Subject: Intergen - Escrow I spoke with Mary Perkins in Treasury. She indicated that we are currently working with Chase Bank and City Bank for our third party escrow Agreements. Mary will forward Kay and I electronic copies of both of their standard agreements. The timeline for a standard agreement is at least 3 days and increases with the level of complexity of the Escrow Agreement's terms & conditions. The cost for either bank to set-up and administer the escrow would be approximately $5-$10K, with additional cost if the Agreement was overly complex. Kay: Call me to discuss our proposed Escrow Agreement T&C's and how a draft form of this Agreement should be best incorporated into the transaction documents. At a minimum, we should attach it as a sample form and have the Letter Agreement(s) contain "substantially in conformance with" language. Fred
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