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Kay
dev42
34,497
Chris and Mike, We are trying to do some sales tax planning, and need to know when the first LM 6000's will be ready to ship (or store, as the case may be).
dev42
34,498
I know there are projected dates in the purchase agreement, but those were more targets than commitment on the first few units.
dev42
34,499
Can you give the current status?
dev42
34,500
Thanks, Kay
dev42
34,501
Here's the latest version.
dev42
34,502
It looks ok to me.
dev42
34,503
The most substantive aspect of it is that Calumet Power (or its affiliate) could end up the indemnity obligations under the agreement.
dev42
34,504
(in other words, an entity without a lot of money to fund indemnity obligations) In my opinion this isn't important in the context of the option.
dev42
34,505
Unless someone objects, I'll tell PERC that Enron is ready to go with the assignment.
dev42
34,506
Kay
dev42
34,507
Matt, Our preference is to sign this before June 19.
dev42
34,508
I recall that Herman is out.
dev42
34,509
Do you know when he will be back?
dev42
34,510
I will make sure that you and Herman get a copy of the next draft.
dev42
34,511
It won't be this week.
dev42
34,512
Kay
dev42
34,513
Just for your info.
dev42
34,514
The agreement and notice are fine with Enron.
dev42
34,515
Kay
dev42
34,516
For your review.
dev42
34,517
Stan, Could you please me send me the electronic file of the executed EPC contracts, including the consolidation agreement?
dev42
34,518
Thanks, Kay
dev42
34,519
Please email the signature version of both documents.
dev42
34,520
Thank you, Kay
dev42
34,521
Jim, Per Gregg's request, I am forwarding ABB's wiring instructions.
dev42
34,522
Please let me know if you need anything else.
dev42
34,523
Kay
dev42
34,524
John, The price includes shipment to the site and installation, but not connection.
dev42
34,525
Therefore, there is no additional freight charge.
dev42
34,526
Kay
dev42
34,527
John, The executed signature page has been faxed per your instructions.
dev42
34,528
Kay
dev42
34,529
Jeff: Here's a draft for your review: I suggest that the payment terms for the offshore contract require the intial payment to be made within 7 business days of execution.
dev42
34,530
That way, we can sign this up next week.
dev42
34,531
Kay
dev42
34,532
Gentlemen: I have been advised by J. Nassos that Peoples (through WestLB) will be exercising the ABB option today.
dev42
34,533
I have asked that they send me a copy of the notice of exercise of option, and I left Mike Sandridge a voice mail telling him to expect it this afternoon.
dev42
34,534
Please let me know if you have any questions.
dev42
34,535
Kay
dev42
34,536
Jeff, I'll focus on the consolidation agreement today.
dev42
34,537
It seems to me that the time GE has to remit the payment to ENA should remain 3 days.
dev42
34,538
I don't see a reason to stretch it to 7 days, since it represents a double payment.
dev42
34,539
Your thoughts?
dev42
34,540
Looks like the tax issues are completed.
dev42
34,541
Kay
dev42
34,542
This time I'll include the attachment.
dev42
34,543
It must be Monday.
dev42
34,544
Kay Enron North America Corp.
dev42
34,545
Team Vitro: I wanted to run these changes by you before sending them to Jeff Smith.
dev42
34,546
Jeff S. has lobbied for deleting the language on assignment, and state that assignment of the consolidation agreement will be subject to the same terms, etc. as the other 2 contracts.
dev42
34,547
He also provide alternative language which appears to be close to what was in the previous draft.
dev42
34,548
Since I didn't know the genesis of the language in the consolidation agreement, so I thought I would check with you first.
dev42
34,549
I eliminated 5 (a) because the contracts allow for partial termination.
dev42
34,550
Hello again, If these contracts are going to be assigned immediately to Mitsui, isn't the issue of a guaranty a Mitsui issue?
dev42
34,551
Is this addressed in the EPC contracts?
dev42
34,552
If an Enron entity must give a guaranty, I would think we would want ENA to give it, to be replaced by a Mitsui guaranty unless we have some safeguard against the possibility of paying Mitsui and Mitsui not paying GE, so that we would have to pay twice.
dev42
34,553
Kay
dev42
34,554
FYI.
dev42
34,555
Is there a conference call scheduled for today, and is Boyd available tomorrow?
dev42
34,556
Thanks, Kay
dev42
34,557
Hello again, Makes sense to me.
dev42
34,558
I would add "on behalf of MEH" after "Transaction" on the first line of the second paragraph of VII.
dev42
34,559
I don't have the MEH Operating Agreement.
dev42
34,560
Do you have an electronic copy of it?
dev42
34,561
Thanks, Kay
dev42
34,562
FYI.
dev42
34,563
Isn't it nice to know he is looking out for you?
dev42
34,564
You can tell how much he cares about you.
dev42
34,565
Thanks for sharing the stories.
dev42
34,566
I really enjoy each one of them.
dev42
34,567
Kay
dev42
34,568
Hi Gregg, I'm looking at it.
dev42
34,569
Kay
dev42
34,570
A little light reading.
dev42
34,571
Another will follow.
dev42
34,572
As promised...
dev42
34,573
Fred, My understanding (which I will verify) is that Enron would still be at risk from an environmental standpoint with a lease.
dev42
34,574
We could try to lessen our exposure as much as possible with the lease, and get indemnity from PGL.
dev42
34,575
Kay
dev42
34,576
Per your request.
dev42
34,577
Hi Richard, I'm working on a form EPC contract.
dev42
34,578
Do you have a favorite arbitration clause you would suggest be included?
dev42
34,579
Thanks, Kay
dev42
34,580
Who is authorized to sign on behalf of this company?
dev42
34,581
Thanks, Kay
dev42
34,582
Gentlemen, I have made changes to the consolidation agreement, which I hope all will find acceptable: (It does need a date or two.) As for the termination agreement, here's what I suggest: Do we want to address the purchaser's parent guaranty in both of the contracts, or just the consolidation agreement?
dev42
34,583
I would suggest that we make the guaranty a deliverable 30 days after execution of the contracts, which gives us time to get the Mitsui assignment done, as we expect to assign the contracts immediately.
dev42
34,584
That way, Mitsui can provide the guaranty, if necessary.
dev42
34,585
If ENA does provide the guaranty, we would want to have the ability to have it replaced with a suitable substitute guaranty from Mitsui.
dev42
34,586
Sorry I missed your call.
dev42
34,587
It was a day of meetings.
dev42
34,588
I will be on the road tomorrow, but will check my voice mail.
dev42
34,589
Kay
dev42
34,590
Gentlemen, Here's the notice we discussed.
dev42
34,591
Kay
dev42
34,592
Did you guys work out anything on the 12th slot?
dev42
34,593
Thanks, Kay
dev42
34,594
FYI
dev42
34,595
I thought I recalled you suggesting that changes we used on the LM 6000 deal be incorporated into a "master".
dev42
34,596