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I had the definite impression he was going to call you.
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I also know he is working on a different deal on an impossible schedule.
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You know the drill.
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Bart is a Washington & Lee guy.
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He is older than Ned, so he didn't go to school with him.
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Just a little trivia...
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Kay
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Sounds like progress.
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No response required - fyi.
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Heather, This is a rough cut of a services agreement.
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Since the loan agreement, services agreement and LLC agreement are all pieces of the same puzzle, I thought I would send it your way.
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Kay
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Hi Fred, I will check with Herman again to get his final comments.
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Kay
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Can Legal be far behind?
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I'm headed to a lengthy conference call, but I wanted you to have this info.
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Anything going on with Manlove?
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Kay
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FYI.
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I don't think it will take long to get a draft.
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I'm happy to coordinate with Sarah and Accounting.
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Is it Mary Lynn that I should talk to?
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Kay
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I have not dropped it off yet.
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Can he be set up for Monday?
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FYI.
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I working with outside counsel to get a draft of the revolver prepared.
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She (outside counsel, Heather Brown) has summarized the information I have given her as follows (see below), and I would appreciate your input as to whether it is accurate.
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Once we get a draft we can sit down and discuss it, and make sure we are on the right track.
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I believe Gregg said that this needs to be in place within 2 weeks.
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Thanks, Kay Thanks for the information.
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If I deciphered this correctly, this is going to be what I would call an "autoborrow" facility ...
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Enovate's cash flow is swept into an account.
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Each day: (i) if Enovate's cash position is short (and availability remains under the loan agreements) advances are made under each loan agreement (probably directly into the acount), and (ii) if Enovate's position is long, the positive balance of the account is applied towards the outstanding loan balances, if any.
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We'll need to get minimum target amounts (i.e., do you really want them paying down $1.00 of each loan?) from the business people.
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Based on the foregoing, I suspect that these will be single-lender, prime rate based loan agreements (otherwise it would be a huge operational headache).
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Once you confirm the single lender part, that will be enough preliminary information for me to start on a loan agreement.
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How could I resist such an opportunity?
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Enron North America Corp.
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With a typical contractor a tight schedule usually increases the cost.
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You might check to see how much a delay in COD to, say Aug 1, might lower the cost of construction.
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Not to say that it will, but it might.
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BUSY, as usual.
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Kay
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I thought Tom wanted to change the time.
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Did he get with you on that?
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Hi Heather, Any idea what the analyst starting salary might be?
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If not, can you point me in the right direction?
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I know you don't have anything better to do, but I really appreciate it.
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Kay
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Heather, Just go to your DASH form file and pull out language from another deal just like this one.
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That's how we handle things on the 38th floor.
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Kay
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A more lucid explanation of the issues.
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Lee, Can you see me a Word (or WordPerfect) file for this letter?
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Thanks, Kay
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Gentlemen, I haven't seen the 501D contract yet.
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Is it on its way or perhaps been misdirected?
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Thanks, Kay
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Hi Paul, I've been reviewing the draft facilities agreement, which is now getting to be a hot topic.
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One thing to keep in mind is that we would really prefer that the facility agreements not refer to the May 12 agreement, if this is possible.
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Could you please give this some thought and review the document with this in mind?
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I look forward to discussing this with you soon.
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Thanks, Kay
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Hi Paul, This will need the same facilities agreement treatment as the GE contract we are working on.
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Thanks, Kay
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3841 is my office number.
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I've made a stab at revising Lee's letter.
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Heather, I haven't heard back from anyone on the single lender issue, but I say go for it, assuming a single lender deal.
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At least that gives us something to work with.
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Thanks, Kay
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Allyson, Here's a suggestion on the language to address the issue of termination "for any reason".
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On page 3, line 18, insert after "limits", deleting the remainder of the sentence: Applicant's requirement to notify the Commission to instances where the Agreement is terminated as a result of Applicant's default.
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Thanks, Kay
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Are we good to go?
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I forgot to show my husband your pictures.
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If it is ok with you, I'll bring them back on Monday.
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Have a great weekend, Kay
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For those who don't have these numbers, here we go: I have Ozzie and Heather's contact numbers as well, but don't see any reason to take up their time unless something commercial arises.
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Jeff, I'll be glad to hold you numbers in trust as well.
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I have nothing special planned (there goes my wild image), so I'm available anytime.
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I'm going to read over the latest versions, keeping in mind that the commercial deal is done.
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Kay
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Good luck, and fire (release, shoot, fling) straight!
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Kay
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It took place.
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We made some progress in indemnity and LOL.
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The carve outs from the LOL remain an open issue.
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We had some helpful discussion about assignment, but I'm not sure how much progress was made.
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You were assigned NO tasks this week!
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Kay
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Stuart has finished his review of the PR invoices, and not the massive pile is on my desk.
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Here's the VEPCO version.
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Much grass.
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Please start me a Fuel Cell notebook, beginning with the clean versions of the documents listed below (don't need the redline).
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The binder needs to be at least a 2 inch binder.
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Thanks, Kay
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Scott has given me some comments on the LOI, which I hope to discuss and incorporate today.
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Does anyone else have any comments?
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Thanks, Kay
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