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e the =EB 2011 Trust lend the $1.5 million to Ben. This involves:</=> * Trustee Resolution by BEB 2011 Trust Non-Admini=trative Trustees (signed by Debra, John and Barry); * Promissory Note (signed by Ben); and<=u> * * Letter of Direction to US Trust as Administrati=e Trustee to enter the Promissory
n in the amount of $1.5 million (I assume this will be a 9-year loan=at the AFR-1.85% for October 2014). We can approach it two ways:<=u> Option 1: The APO1 Trust makes the loan=to Ben and Ben pays the APO1 Trust annual interest. This involves: * * Trustee Resolution by APO1 Trustees (signed by =arry, John an
of Delaware, Administrative Trustee EFTA_R1_01945047 EFTA02672198 Stet) Two: Leon Sells AIF IV Management Inc. to 2011 Trusts For tax reasons, Debra resigns as Trustee from the 2011 Trusts. Each of the the 2011 Trusts purchases from Leon 25% of the stock of AIF IV, valued using CSV of the policie
ermott Will & Emery LLP November 18, 2013 EFTA_R1_01945046 EFTA02672197 Step One: Distribution of BFP Interests (or a cash Loan) to 2011 Trusts The APO1 Trust distributes (decants) sufficient assets to each of the BEB 2011 Trust, the JMB 2011 Trust, the ASB 2011 Trust and the VRB 2011 Trust (the "2011 Trus
s; US Trust Company of Delaware, Administrative Trustee EFTA00583245 Step Two: Leon Sells AIF IV Management Inc. to 2011 Trusts For tax reasons, Debra resigns as Trustee from the 2011 Trusts. Each of the the 2011 Trusts purchases from Leon 25% of the stock of AIF IV, valued using CSV of the policie
PROPOSAL of McDermott Will & Emery LLP November 18, 2013 EFTA00583244 Step One: Distribution of BFP Interests (or a cash Loan) to 2011 Trusts The APO1 Trust distributes (decants) sufficient assets to each of the BEB 2011 Trust, the JMB 2011 Trust, the ASB 2011 Trust and the VRB 2011 Trust (the "2011 Trus
Entities connected to both Debra and The APO1 Trust
Leon Black
PERSON
Barry Diller
PERSON
Michael Cohen
PERSONBlack Family Partners
ORGANIZATIONRichard Ressler
PERSONDebra Black
PERSONBarry Cohen
PERSONLeon D.
PERSONMcDermott Will & Emery LLP
ORGANIZATIONAIF IV Management Inc.
ORGANIZATIONDebra Resigns
PERSONUS Trust Company
ORGANIZATIONNon-Administrative
ORGANIZATIONLeon Sells AIF IV Management Inc.
ORGANIZATIONAIF IV's
ORGANIZATIONSells S-Corp Sock
ORGANIZATIONBlack 1999 Life Insurance Trust #1
ORGANIZATIONTwo Life Policies
ORGANIZATIONNewco, LP
ORGANIZATIONNewco LLC
ORGANIZATION