Message-ID: <23924158.1075845878862.JavaMail.evans@thyme> Date: Mon, 16 Oct 2000 07:11:00 -0700 (PDT) From: hbrown@bracepatt.com To: kay.mann@enron.com Subject: Re: FW: Form of Note for enovate, L.L.C. Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: "Heather Brown" X-To: X-cc: X-bcc: X-Folder: \Kay_Mann_June2001_2\Notes Folders\Enovate X-Origin: MANN-K X-FileName: kmann.nsf Kay -- The attached notes look like they would be used for member loans to Enovate under the LLC Agmt (i.e., loans for capital expenditures and other purposes not covered by the credit facilities provided under the Credit Agreements). (As you'll see when you review the attachments, those notes are non-interest bearing demand notes.) Re: the attached form of note -- it should work for purposes of member loans under the LLC Agmt, but you will need to decide how the LLC Agmt loans and the Credit Agreement's revolving loans "work" together ... i.e., can the LLC Agmt loans be paid from cash flow that would otherwise go to pay down the revolvers, and will they be subordinated to the revolvers? Heather >>> 10/16/00 01:51PM >>> I haven't looked at this yet... Kay ---------------------- Forwarded by Kay Mann/Corp/Enron on 10/16/2000 01:51 PM --------------------------- (Embedded image moved to file: From: Gregg Penman pic22646.pcx) 10/16/2000 11:48 AM To: Kay Mann/Corp/Enron@Enron cc: Subject: FW: Form of Note for enovate, L.L.C. Kay - John Nassos prepared the following form of promissory note for loans to enovate. Can this substitute for Bracewell's promisorry note? Let me know what you think. Thanks, Gregg ---------------------- Forwarded by Gregg Penman/Corp/Enron on 10/16/2000 11:45 AM --------------------------- j.burns@pecorp.com on 10/16/2000 10:18:38 AM To: Paul.Burgener@enron.com, Gregg.Penman@enron.com cc: Subject: FW: Form of Note for enovate, L.L.C. FYI and comments. The attached would be issued for funding short-term needs of enovate. Thanks JAB > ---------- > From: Nassos, John G. > Sent: Monday, October 16, 2000 10:15 AM > To: Burns, Jim > Subject: Form of Note for enovate, L.L.C. > > Attached pursuant to your request is a form of promissory note for member > loans to enovate, L.L.C. Of course, Enron needs to review it and approve > of the form as well. As we discussed, the note is set up as a demand note > that does not bear interest. > > Please call if you have any questions (ext. 4413). > > <> > ---------------------------------------------------------------- The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. (See attached file: Promissory Notes - shell.doc)