Message-ID: <13467311.1075845976638.JavaMail.evans@thyme> Date: Tue, 16 Jan 2001 03:39:00 -0800 (PST) From: kay.mann@enron.com To: rebecca.walker@enron.com Subject: Re: Letter of Credit from GE for LM6000s Cc: fred.mitro@enron.com, sheila.tweed@enron.com, alan.larsen@enron.com Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Bcc: fred.mitro@enron.com, sheila.tweed@enron.com, alan.larsen@enron.com X-From: Kay Mann X-To: Rebecca Walker X-cc: Fred Mitro, sheila.tweed@enron.com, Alan Larsen X-bcc: X-Folder: \Kay_Mann_June2001_3\Notes Folders\Sent X-Origin: MANN-K X-FileName: kmann.nsf The Intergen LOC should be in CAED I and CAED II's names, issued after closing on the 18th. The PSCO deal team should handle the PSCO LOC, which should be in the name of the PSCO project company, I think, after that deal closes this week. Al Larsen and Sheila Tweed can address these. Hope this helps. Kay From: Rebecca Walker 01/16/2001 10:48 AM To: Kay Mann/Corp/Enron@Enron cc: Fred Mitro/HOU/ECT@ECT Subject: Letter of Credit from GE for LM6000s Kay In the letters of credit from GE for the PSCO and Intergen turbines, it states that the beneficiary must countersign the three documents within 30 days of 1/10/01. The beneficiary is listed as: E-Next Generation, L.L.C. 1400 Smith Street Houston, TX 77002. Does this mean that the documents need to be signed by someone from ENA and then forwarded to E-Next Generation or just sent straight to E-Next Generation? Also, does anything else need to be done to "activate" the Letter of Credit? It appears from the documents that nothing else would need to be done unless it were necessary to draw on the account for some reason. Please advise on who needs to sign the three documents and if any other steps need to be taken in regards to them. Thanks, Rebecca ---------------------- Forwarded by Rebecca Walker/NA/Enron on 01/16/2001 10:32 AM --------------------------- From: Ben F Jacoby @ ECT 01/12/2001 02:08 PM Sent by: Ben Jacoby@ECT To: Fred Mitro/HOU/ECT@ECT, Rebecca Walker/NA/Enron@Enron cc: Subject: Letter of Credit from GE for LM6000s Fred / Rebecca: Please follow up on this with Kay. Thanks. Ben ---------------------- Forwarded by Ben Jacoby/HOU/ECT on 01/12/2001 01:01 PM --------------------------- From: Catherine Clark/ENRON@enronXgate on 01/11/2001 07:24 PM To: Ben Jacoby/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT, Kay Mann/Corp/Enron@Enron cc: Roseann Engeldorf/Corp/Enron@ENRON, Lisa Bills/ENRON@enronXgate Subject: Letter of Credit from GE for LM6000s The accounting group received a set of 3 faxes from GE with information on Letters of Credit issued by GE with E-Next Generation as the beneficiary. These documents need to be countersigned and I don't know if anything else is required to "activate" the LOCs. I'll fax copies to you all. The documents are: LOC 1: $4,289,200 (for the 6 Fountain Valley turbines, since the amount is 5% of the total turbine cost) LOC 2: $717,600 (for Intergen turbine 1) LOC 3: $717,600 (for Intergen turbine 2) This is in accordance with the LM6000 purchase agreement (Section 6.1.3) where GE must provide Retention Letters of Credit (the Retention Amount is 5% of the purchase price) when E-Next Generation pays GE the final progress payment (this final payment is scheduled to go out on 1/16/01). The LOC docs need to be counter-signed within 30 days and then forwarded to the E-Next Generation, since they are the beneficiary. -Catherine x3-9943