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Enron Mail |
Jeff wants to get paid all project the funds as soon as the bonds are
raised. If we can execute all the EPC contracts by this time, he wants to be paid upfront with a corporate guarantee to return the money if we fail to pass a given plant performance test. If we can't execute the EPC Contracts by this time or for the funds which are for activities outside of construction (i.e., development, major maintenance reserve...etc.), Jeff will probably want to execute a separate escrow or financial contract where we get to manage those funds and take some form of return (also supported with some form of corporate guarantee for unused funds). I don't think that he wants to mention that possibility in the LOI. We put the upfront payment on the EPC contract as a place holder on this concept.
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