Subject: Re: CRRA LOI
From: [email-masked]
To: [email-masked]
Cc: [email-masked], [email-masked], [email-masked], [email-masked]
Date: Thu, 21 Sep 2000 02:06:00 -0700 (PDT)

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.