Hi Laszlo,
I was just following up on this.
Sean
On Tue, May 14, 2024 at 8:14 AM Sean Cygan <scygan@thekey.com> wrote:
> HI Laszlo,
>
> You were working on getting us a Letter of Credit for the subsidiary of
> HCA Home Care Assistance Canada Inc. and I don't think I ever received it.
> This is an urgent matter and we need the letter by 05/17/2024. I have
> attached the example letters.
>
> Sean
>
> On Tue, Nov 14, 2023 at 12:53 PM Sean Cygan <scygan@thekey.com> wrote:
>
>> Ok, thanks for the update.
>>
>> On Tue, Nov 14, 2023 at 12:49 PM Laszlo Kovacs <laszlo.kovacs@thekey.com>
>> wrote:
>>
>>> Still working it. Was expecting it today, but BCC’d you on the f/u email
>>> I just sent asking for an update.
>>>
>>>
>>>
>>> *From:* Sean Cygan <scygan@thekey.com>
>>> *Sent:* Tuesday, November 14, 2023 2:31 PM
>>> *To:* Laszlo Kovacs <laszlo.kovacs@thekey.com>
>>> *Subject:* Re: FW: [EXTERNAL]Re: Letter of Credit for the subsidiary of
>>> HCA Home Care Assistance Canada Inc.
>>>
>>>
>>>
>>> Hi Laszlo,
>>>
>>>
>>>
>>> We are getting very close to the due date. Any updates?
>>>
>>>
>>>
>>> Sean
>>>
>>>
>>>
>>> On Thu, Oct 26, 2023 at 11:02 AM Laszlo Kovacs <laszlo.kovacs@thekey.com>
>>> wrote:
>>>
>>> Lucy,
>>>
>>>
>>>
>>> Just want you to know I’m getting really frustrated here. JPMC holds
>>> millions and millions of our dollars, is so interwoven in our daily
>>> processes that you probably understand our operations better than 80% of
>>> our internal staff and already possess every bit of information you could
>>> ever need about TheKey.
>>>
>>>
>>>
>>> The hoops and hurdles required for a measly $25K LC are just foolish.
>>> I’d ask you to share my frustration with Nilesh, Eileen and whomever else
>>> might care about the state of my satisfaction to this end. I’m going to
>>> carve out yet more time this afternoon to get these documents completed,
>>> but wanted you know that I’m not happy about having to do so.
>>>
>>>
>>>
>>> Best,
>>>
>>>
>>>
>>> *From:* McLaughlin, Jennifer L <jennifer.l.mclaughlin@jpmorgan.com>
>>> *Sent:* Thursday, October 26, 2023 12:29 PM
>>> *To:* Laszlo Kovacs (laszlo.kovacs@thekey.com) <laszlo.kovacs@thekey.com
>>> >
>>> *Cc:* Nixon, Lucy B <lucy.b.nixon@jpmorgan.com>; Her, Melanie <
>>> melanie.her@jpmorgan.com>
>>> *Subject:* FW: [EXTERNAL]Re: Letter of Credit for the subsidiary of HCA
>>> Home Care Assistance Canada Inc.
>>>
>>>
>>>
>>>
>>>
>>> Hi Laszlo:
>>>
>>>
>>>
>>> kindly confirm status of the return of executed forms.
>>>
>>>
>>>
>>> thanks
>>>
>>>
>>>
>>> *Jennifer L. McLaughlin* | Assistant Vice President | Client Service
>>> Manager | Global Trade Services | *JPMorgan Chase Bank, N.A., Toronto
>>> Branch* | Suite 4500, TD Bank Tower, 66 Wellington Street West,
>>> Toronto, Ontario, M5K 1E7 | Telephone: 416-981-2324 | Facsimile:
>>> 844-320-8504 | Email: jennifer.l.mclaughlin@jpmorgan.com
>>>
>>>
>>>
>>>
>>>
>>>
>>>
>>> *From:* McLaughlin, Jennifer L (CIB OPS, CAN)
>>> *Sent:* Tuesday, October 24, 2023 5:55 PM
>>> *To:* Laszlo Kovacs <laszlo.kovacs@thekey.com>
>>> *Cc:* Nixon, Lucy B (CB, USA) <lucy.b.nixon@jpmorgan.com>; Her, Melanie
>>> (CB Risk, USA) <melanie.her@jpmorgan.com>
>>> *Subject:* RE: [EXTERNAL]Re: Letter of Credit for the subsidiary of HCA
>>> Home Care Assistance Canada Inc.
>>>
>>>
>>>
>>> Hello:
>>>
>>>
>>>
>>> I am sorry for the late reply.
>>>
>>>
>>>
>>> Attached please find:
>>>
>>> - LC application and reimbursement agreement
>>>
>>>
>>> - Please insert the address of Arya Healthy Living on page on in the
>>> account party box.
>>> - if you have an attention party at the beneficiary office,
>>> please insert on page two under DELIVERY INSTRUCTIONS.
>>> - Please arrange for the top of the signature page (page 15) to
>>> be signed by an auth signer for HCA HOME and the bottom of the signature
>>> page – page 15 – to be signed for Arya Healthy Living
>>> - Please return to me in pdf format
>>>
>>>
>>>
>>> - LC draft
>>>
>>>
>>> - This beneficiary has set language and I have prepared a draft for
>>> your review.
>>> - Please have auth signer execute at the bottom of page two and
>>> return to me in pdf format.
>>>
>>>
>>>
>>> - Trade Certificate of Authority
>>>
>>>
>>> - Please complete this form for HCA Home Care Assistance Canada Inc.
>>> - Please note the signature at the bottom of the form must not be
>>> the same signature in the body of the form. The signer at the bottom of
>>> the form is verifying the signature in the body of the form.
>>> - Please return completed form to me in pdf format.
>>>
>>>
>>>
>>> Please review the forms carefully and if in agreement, arrange for
>>> execution and return.
>>>
>>>
>>>
>>> Please do not hesitate to contact me if I can assist further.
>>>
>>>
>>>
>>> thanks
>>>
>>>
>>>
>>>
>>>
>>>
>>>
>>> *Jennifer L. McLaughlin* | Assistant Vice President | Client Service
>>> Manager | Global Trade Services | *JPMorgan Chase Bank, N.A., Toronto
>>> Branch* | Suite 4500, TD Bank Tower, 66 Wellington Street West,
>>> Toronto, Ontario, M5K 1E7 | Telephone: 416-981-2324 | Facsimile:
>>> 844-320-8504 | Email: jennifer.l.mclaughlin@jpmorgan.com
>>>
>>>
>>>
>>>
>>>
>>>
>>>
>>> *From:* Laszlo Kovacs <laszlo.kovacs@thekey.com>
>>> *Sent:* Friday, October 13, 2023 10:12 AM
>>> *To:* McLaughlin, Jennifer L (CIB OPS, CAN) <
>>> jennifer.l.mclaughlin@jpmorgan.com>
>>> *Cc:* Nixon, Lucy B (CB, USA) <lucy.b.nixon@jpmorgan.com>; Her, Melanie
>>> (CB Risk, USA) <melanie.her@jpmorgan.com>
>>> *Subject:* RE: [EXTERNAL]Re: Letter of Credit for the subsidiary of HCA
>>> Home Care Assistance Canada Inc.
>>>
>>>
>>>
>>> Hi Jenn,
>>>
>>>
>>>
>>> Would you do me a huge favor?? If I gave you permission, could you
>>> please update the docs as needed with your suggestions below? Then we could
>>> grab some time on Monday (or today if you have any availability) to quickly
>>> run through and I can execute?
>>>
>>>
>>>
>>> Thanks,
>>>
>>>
>>>
>>> *From:* McLaughlin, Jennifer L <jennifer.l.mclaughlin@jpmorgan.com>
>>> *Sent:* Friday, October 6, 2023 10:44 AM
>>> *To:* Laszlo Kovacs <laszlo.kovacs@thekey.com>
>>> *Cc:* Nixon, Lucy B <lucy.b.nixon@jpmorgan.com>; Her, Melanie <
>>> melanie.her@jpmorgan.com>
>>> *Subject:* RE: [EXTERNAL]Re: Letter of Credit for the subsidiary of HCA
>>> Home Care Assistance Canada Inc.
>>>
>>>
>>>
>>> Hi Laszlo:
>>>
>>>
>>>
>>> Thank you for submitting these forms. Please note the following changes:
>>>
>>>
>>>
>>> Trade Certificate of Authority
>>>
>>> - This form has been completed for TheKeyholdings, LLC. The obligor
>>> for this LC and the obligor name associated with the credit facility
>>> established to support this LC is: HCA Home Care Assistance Canada Inc.
>>> - The Trade Certificate of Authority form must be completed for HCA
>>> Home Care Assistance Canada Inc.
>>> - Please note the signature at the bottom of the form must not be
>>> the same signature in the body of the form. The signer at the bottom of
>>> the form is verifying the signature in the body of the form.
>>> - Please arrange for an alternate signer to sign off at the bottom
>>> of this form verifying your signature and return to me in pdf format.
>>>
>>>
>>>
>>> Standby Letter of Credit Application form:
>>>
>>> - Insert full legal address for HCA Home Care Assistance Canada Inc.
>>> in the applicant/obligor box
>>>
>>>
>>>
>>> - Insert full address for Arya Healthy Living Inc. in the account
>>> party box
>>>
>>>
>>>
>>> - Insert full name and address of beneficiary in the beneficiary box
>>>
>>>
>>>
>>> - Expiration date cannot be 1-1-2100. Please insert “one year from
>>> date of issuance”
>>>
>>>
>>>
>>> - Section II – please insert clear description of why the LC is
>>> needed. Is there an agreement between the beneficiary and the account
>>> party? If so please provide agreement name and date and parties involved.
>>> Did the beneficiary give a reason why they need this LC and under what
>>> conditions they would be able to draw?
>>>
>>>
>>>
>>> - Section III – you have indicted LC to have an auto extension
>>> clause. Please insert the number of days’ notice you wish stated (standard
>>> id 30, 60 or 90) and if in doubt I suggest 60 days. You have indicted a
>>> final expiry date of 1-1-2100. We can state this in the LC and if we do it
>>> will state that the LC will be auto extended for one year periods unless we
>>> serve them a notice of non extension at least 60 days prior to the then
>>> applicable expiry but in any event will not auto extend beyond 1-1-2100.
>>> Did the beneficiary ask for a final expiry going out 77 years? Please
>>> confirm.
>>>
>>>
>>>
>>> - Page 2 – delivery instructions/special handling – please insert
>>> attention party details (if any) for the beneficiary.
>>>
>>>
>>>
>>> - Page 2 - You have indicated credit is transferable. I think this
>>> box should be unticked unless the beneficiary specifically asked for the LC
>>> to be transferable. Please confirm.
>>>
>>>
>>>
>>> - Signature page – page 15
>>>
>>> Please insert “HCA Home Care Assistance Canada Inc.” below
>>> Applicant/Obligor
>>>
>>> Please insert “Arya Healthy Living Inc.” below Account Party
>>>
>>> Please sign for account party
>>>
>>>
>>>
>>> Please ask the beneficiary if they have standard LC language for us to
>>> review. If not, I will draft language upon receipt of complete LC
>>> application form.
>>>
>>>
>>>
>>> Please let me know if I can assist further.
>>>
>>>
>>>
>>> thanks
>>>
>>>
>>>
>>>
>>>
>>> *Jennifer L. McLaughlin* | Assistant Vice President | Client Service
>>> Manager | Global Trade Services | *JPMorgan Chase Bank, N.A., Toronto
>>> Branch* | Suite 4500, TD Bank Tower, 66 Wellington Street West,
>>> Toronto, Ontario, M5K 1E7 | Telephone: 416-981-2324 | Facsimile:
>>> 844-320-8504 | Email: jennifer.l.mclaughlin@jpmorgan.com
>>>
>>>
>>>
>>>
>>>
>>>
>>>
>>> *From:* Laszlo Kovacs <laszlo.kovacs@thekey.com>
>>> *Sent:* Friday, October 06, 2023 8:30 AM
>>> *To:* McLaughlin, Jennifer L (CIB OPS, CAN) <
>>> jennifer.l.mclaughlin@jpmorgan.com>
>>> *Cc:* Nixon, Lucy B (CB, USA) <lucy.b.nixon@jpmorgan.com>; Cendrowski,
>>> Kara (CB, USA) <kara.cendrowski@jpmorgan.com>; Her, Melanie (CB Risk,
>>> USA) <melanie.her@jpmorgan.com>
>>> *Subject:* RE: [EXTERNAL]Re: Letter of Credit for the subsidiary of HCA
>>> Home Care Assistance Canada Inc.
>>>
>>>
>>>
>>> Jennifer,
>>>
>>>
>>>
>>> See attached. I hope we are getting close and there aren’t any further
>>> documents. Feels a bit excessive for a paltry $25K LC considering JP has
>>> nearly all of my global business.
>>>
>>>
>>>
>>> Best,
>>>
>>>
>>>
>>> *From:* McLaughlin, Jennifer L <jennifer.l.mclaughlin@jpmorgan.com>
>>> *Sent:* Wednesday, October 4, 2023 11:59 AM
>>> *To:* Laszlo Kovacs <laszlo.kovacs@thekey.com>
>>> *Cc:* Nixon, Lucy B <lucy.b.nixon@jpmorgan.com>; Cendrowski, Kara <
>>> kara.cendrowski@jpmorgan.com>; Her, Melanie <melanie.her@jpmorgan.com>
>>> *Subject:* FW: [EXTERNAL]Re: Letter of Credit for the subsidiary of HCA
>>> Home Care Assistance Canada Inc.
>>>
>>>
>>>
>>> Hi Laszlo
>>>
>>>
>>>
>>> Please confirm status of form completion.
>>>
>>>
>>>
>>> Thanks!
>>>
>>>
>>>
>>> Sent with BlackBerry Work
>>> (www.blackberry.com)
>>>
>>>
>>>
>>> *From: *McLaughlin, Jennifer L (CIB OPS, CAN) <
>>> jennifer.l.mclaughlin@jpmorgan.com>
>>>
>>> *Date: *Thursday, Sep 28, 2023 at 11:50 AM
>>>
>>> *To: *Laszlo Kovacs <laszlo.kovacs@thekey.com>, Nixon, Lucy B (CB, USA)
>>> <lucy.b.nixon@jpmorgan.com>
>>>
>>> *Cc: *Cendrowski, Kara (CB, USA) <kara.cendrowski@jpmorgan.com>, Her,
>>> Melanie (CB Risk, USA) <melanie.her@jpmorgan.com>
>>>
>>> *Subject: *RE: [EXTERNAL]Re: Letter of Credit for the subsidiary of HCA
>>> Home Care Assistance Canada Inc.
>>>
>>>
>>>
>>> Attached please find:
>>>
>>>
>>>
>>> - JPMorgan Toronto standard LC application and reimbursement
>>> agreement
>>>
>>>
>>> - Please complete, have executed by an authorized signer and
>>> returned to me in pdf format
>>> - HCA Home Care Assistance Canada Inc. should be the
>>> applicant/obligor on the LC app
>>> - Arya Healthy Living Inc. should be the account party on the LC
>>> app. This entity will be the applicant for the LC but we will state the
>>> following in our letter of credit:
>>>
>>> “We hereby issued this letter of credit for the account of HCA Home Care
>>> Assistance Canada Inc. for and on behalf of Arya Healthy Living Inc.”
>>>
>>>
>>>
>>> - JPMorgan Toronto Trade Certificate of Authority
>>>
>>>
>>> - This form is required to allow us to verify signatures on trade
>>> documents
>>> - Please complete and return to me in pdf format
>>>
>>>
>>>
>>> If the beneficiary has supplied standard language, please send to me for
>>> review. Otherwise upon receipt of LC application, I will prepare a LC
>>> draft of language and send to you for sign-off by an authorized officer and
>>> return to me in pdf format.
>>>
>>>
>>>
>>> If you require assistance with LC app completion, please let me know and
>>> we can set up a call to go through the form. Alternatively, you may send
>>> me the form in draft to review before having executed.
>>>
>>>
>>>
>>> If possible, please remit the Trade Certificate of Authority form to me
>>> as soon as you can.
>>>
>>>
>>>
>>> Regarding timeline, we have a few steps to set up credit facility and
>>> onboard HCA on our LC system. Once that is completed and we are in receipt
>>> of LC forms and LC draft, LC issuance is 1-2 business days.
>>>
>>>
>>>
>>> @Nixon, Lucy B (CB, USA) <lucy.b.nixon@jpmorgan.com>
>>>
>>> Kindly opine on timeline for credit facility set-up.
>>>
>>>
>>>
>>> Thank you and I look forward to working with you on this LC issuance.
>>>
>>>
>>>
>>> *Jennifer L. McLaughlin* | Assistant Vice President | Client Service
>>> Manager | Global Trade Services | *JPMorgan Chase Bank, N.A., Toronto
>>> Branch* | Suite 4500, TD Bank Tower, 66 Wellington Street West,
>>> Toronto, Ontario, M5K 1E7 | Telephone: 416-981-2324 | Facsimile:
>>> 844-320-8504 | Email: jennifer.l.mclaughlin@jpmorgan.com
>>>
>>>
>>>
>>>
>>>
>>>
>>>
>>> *From:* Laszlo Kovacs <laszlo.kovacs@thekey.com>
>>> *Sent:* Thursday, September 28, 2023 11:13 AM
>>> *To:* Nixon, Lucy B (CB, USA) <lucy.b.nixon@jpmorgan.com>
>>> *Cc:* McLaughlin, Jennifer L (CIB OPS, CAN) <
>>> jennifer.l.mclaughlin@jpmorgan.com>; Cendrowski, Kara (CB, USA) <
>>> kara.cendrowski@jpmorgan.com>; Her, Melanie (CB Risk, USA) <
>>> melanie.her@jpmorgan.com>
>>> *Subject:* [EXTERNAL]Re: Letter of Credit for the subsidiary of HCA
>>> Home Care Assistance Canada Inc.
>>>
>>>
>>>
>>> Lucy,
>>>
>>>
>>>
>>> Thanks so much for your guidance to get to this point, and thank you for
>>> making the introduction to Jennifer.
>>>
>>>
>>>
>>> Hi Jennifer- Looking forward to working with you on this. I’m getting
>>> pressure to close this asap and would really appreciate any insight you
>>> could provide on timeline.
>>>
>>>
>>>
>>> Thanks,
>>>
>>>
>>>
>>> On Sep 27, 2023, at 11:19 PM, Nixon, Lucy B <lucy.b.nixon@jpmorgan.com>
>>> wrote:
>>>
>>>
>>>
>>> Laszlo,
>>>
>>> I hope you are doing well. I’d like to introduce you via email to my
>>> colleague from JPMorgan in Canada, Jennifer McLaughlin, who’ll be working
>>> on the LC request. She’ll provide you with the documentation and guide you
>>> via the process. Kara and I will be also available for help if needed.
>>> Please note that we will be asking you to have HCA Home Care Assistance
>>> Canada Inc. as the applicant for the LC on behalf of its subsidiary Arya
>>> Healthy Living Inc. (so Arya will be the counterparty to the LC). We
>>> recommended it as we already completed the KYC on the HCA entity and
>>> because it’s acceptable for the parent to apply on behalf of a sub.
>>>
>>>
>>>
>>> Jennifer,
>>>
>>> Thank you in advance for your help. Below is the information provided
>>> by Laszlo so far on the requested LC. Melanie is establishing the line of
>>> credit for the LC.
>>>
>>>
>>>
>>> 1. Beneficiary: Director of Employment Standards
>>> 2. Amount: $25,000 (Laszlo, do you mean USD equivalent of $25,000 or
>>> CAD 25,000?)
>>> 3. Currency: CAD
>>> 4. Tenor: 1 yr evergreen automatically renewable
>>>
>>>
>>> 1. Condition: permit for “partial drawings” without any conditions,
>>> meaning that the Director of Employment Standards can, for reasons set out
>>> in the regulation and in accordance with the prescribed processes, demand
>>> and receive a payment less than the entire amount specified in the letter
>>> of credit
>>>
>>>
>>> 5. Applicant: HCA Home Care Assistance Canada Inc. on behalf of Arya
>>> Healthy Living Inc.
>>>
>>>
>>>
>>> My warmest regards – Lucy Nixon
>>>
>>>
>>>
>>> *Lucy Nixon* | Managing Director | Corporate Client Banking | *J.P.
>>> Morgan* | 2029 Century Park East, Suite 3800 | Los Angeles, CA 90067 |
>>> O: 310 860 7257 | C: 310 930 7065 | lucy.b.nixon@jpmorgan.com
>>>
>>>
>>>
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>>> this message and notify the sender immediately. Any unauthorized use is
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>>>
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>>> privileged or legal entity information, malicious content and monitoring of
>>> electronic messages. If you are not the intended recipient, please delete
>>> this message and notify the sender immediately. Any unauthorized use is
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>>>
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>>> privileged or legal entity information, malicious content and monitoring of
>>> electronic messages. If you are not the intended recipient, please delete
>>> this message and notify the sender immediately. Any unauthorized use is
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>>>
>>> This message is confidential and subject to terms at:
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>>> privileged or legal entity information, malicious content and monitoring of
>>> electronic messages. If you are not the intended recipient, please delete
>>> this message and notify the sender immediately. Any unauthorized use is
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