Kay and Carlos:

Greg Lang advises that they are targeting a financial closing with their
lenders on Thursday, April 19.  If this bears out, the escrow would be
funded three business days later, on Tuesday, April 24.  However, ENA can
terminate the letter agreement if the escrow is not funded on or before
Friday, April 20.  Therefore, PPL may (although I have not confirmed their
intent in this regard) fund the escrow immediately following their financial
closing, rather than waiting the three business days.  They are proceeding
under the assumption that an acceleration of payments to GE will be
negotiated.  If not, Plan B (the "non-disturbance" lien) requires additional
documentation with their lenders and with ENA that may result in some delay.
Resolution of this issue is obviously critical to the timetable.  Let me
know if you have any questions or comments.  Thanks.

Carolyn M. Campbell
King & Spalding
713-276-7307 (phone)
713-751-3280 (fax)
ccampbell@kslaw.com <mailto:ccampbell@kslaw.com>





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