From: Heather Gray To: jeffrey E. <[email protected]> Subject: RE: Picasso agreement Date: Tue, 28 Apr 2015 13:04:51 +0000 I don't think so, but I'll ask. Are you asking if Bank of America is a consultant or third party under the confidentiality clause? No, I can't see how they would be. But would B of A need to be covered? We wouldn't tell them specific terms of the deal, and they require us to get an appraisal even for recently purchased works, so we wouldn't tell them the purchase price. I can add bankers as a category in the confi if you think that would be helpful. From: jeffrey E. [[email protected]] Sent: Tuesday, April 28, 2015 8:05 AM To: Heather Gray Subject: Re: Picasso agreement i would lile to know if leon intends to put this on the collateral list.? is that considered a consultant or a third party udner the agreemetn On Tue, Apr 28, 2015 at 8:00 AM, Heather Gray < > wrote: If we list them as a possible buyer (instead of just an assignee), we'll need to have the trustees sign the agreement. Okay? Sent from my iPhone On Apr 28, 2015, at 7:55 AM, jeffrey E. <[email protected]> wrote: add to buyer any trust to which leon is grantor On Mon, Apr 27, 2015 at 8:13 PM, Heather Gray < > wrote: Jeffrey, Attached is a revised draft of the Picasso Agreement of Sale, along with a redline showing the change I made. As we discussed, I have made the "Buyer" of the Picasso either Narrows Holdings LLC or AP Narrows LP, and have also reserved the right for the Buyer to assign the agreement to Leon, Debra, his children, or a trust or entity created by or primarily for the benefit of any of them. Per paragraph 5 of the Agreement, we must notify Gagosian which entity will be the Buyer no later than February 7, 2016 (which is the last day of the MoMA exhibition and right before the final condition report would be prepared and the Buyer would either cancel the sale or take title and possession). I set this date at February 7, 20