My understanding is the letter will contain a minimum commitment of cash regardless of funding. Will essentially operate as a deposit prior to finalised funding. It most certainly won’t just be a letter because it defeats the purpose of it.
What that minimum commitment will be is anyone’s guess but I suspect $3-5 million. This is the bit I hope will avoid another CR and why Marcus approached like this. I.e Take or pay
SK Innovation, page-1420
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