EFTA00681521.pdf

From: "Barry J. Cohen" < To: Jeffrey E. <jeevacation(a gmail.com> Subject: RE: Plane Purchase Agreement Date: Wed, 02 Aug 2017 23:21:32 +0000 Attachments: 08022017162754.pdf Deposit amount is $1MM. Seller default could be someone approaches them and offers $2mm more. All conditions to closing are met. They refuse to close. We have some specific performance rights, so I'm not sure I care about the $1MM liquidated damages. From: Jeffrey E. [mailto:[email protected]] Sent: Wednesday, August 02, 2017 7:06 PM To: Barry J. Cohen < Subject: Re: Plane Purchase Agreement send contract, its in the details who pays pre buy,? 1 give up ok, they want to sell and have little alternative . 2 what is the deposit amount. 3. seller default. ? On Wed, Aug 2, 2017 at 6:43 PM, Barry J. Cohen < > wrote: We are negotiating a purchase agreement for the Oxy plane. Still $47MM. Two sticking points relate to something you referenced previously. 1. Seller wants to be able to walk if the inspection requires repairs that take longer than 2 months OR cost more than $3MM. We suggested that they shouldn't be rewarded with walk rights if there are delays and that if the repairs are required, they're going to make them anyway, so why should they walk? 2. We said that we would pay $1MM of liquidated damages if we default and that Seller should pay $1MM if they default. Seller said they want us to pay, but not them. Do you think we should insist on our position? Barry J. Cohen Elysium Management, LLC 445 Park Avenue Suite 1401 New York, NY 10022 I Tel. please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this EFTA00681521 communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected] and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00681522