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Enron Mail |
fyi [Murray, Julia]
Original Message----- From: Ephross, Joel Sent: Monday, November 26, 2001 12:43 PM To: Murray, Julia Cc: Mintz, Jordan Subject: B of A setoff provisions According to Mary, we do not have a written agreement with B of A. Notwithstanding that, from time to time B of A sends out standard Ts and Cs regarding corporate accounts. The last one available, effective October 2001, contains a setoff provision. This purports to allow the bank a right of setoff, either before or after an event of default, and to apply both to the bank, and its affiliates. [It does not purport to apply to the debtor or any of its affiliates, except in circumstances not applicable here -- such as sole proprietor, or partnership situations.]
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