From: jeffrey E. <[email protected]> Sent: Wednesday, February 25, 2015 12:38 AM To: Ada Clapp Subject: Re: Follow up to yesterday's call im awre On Tue, Feb 24, 2015 at 7:47 PM, Ada Clapp < > wrote: Jeffrey, Did you get all the answers you wanted in connection=with the notes that were generating income to Josh and Ben? As a rem=nder, Ben borrowed $1.5 million from the APO1 Trust last October (9 year term note with interest at 1.85= - interest is compounded annually, accrued and added to principal). This generates "phantom" interest income for Leon (a= you know, APO1 is a grantor trust). Ada Clapp Chief Legal Officer Elysium Management LLC 445 Park Avenue Suite 1401 New York, New York 10022 Direct Dial: <tel Fax: <tel Email: This communication and any attachment is for the =ntended recipient(s) only and may contain information that is privileged, =onfidential and/or proprietary. If you are not the intended reci=ient, you are hereby notified that further dissemination of this communication and its attachments is prohibited. Please delete all copies of this communication and its attachments and "ratify me immediately that you have received them in error. Thank you= EFTA_R1_01640554 EFTA02509307

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