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Enron Mail |
Our trader just noticed one difference between this Confirm and the one we
have with Chase.? The conversion to Canadian dollars in the Chase confirm is done on each Friday in the Calculation Period and then at the end of the Calculation Period, the prices are averaged.? In your Confirm, the amounts are only converted on the Pricing Date.? The 2 have to be consistent, therefore, can we change the language so it reads as follows: "Currency Conversion:? For the purposes of this Transaction, the Floating Price [for each Friday in the Calculation Period] shall be converted to a Canadian Dollar equivalent at the Canadian Dollar/U.S. Dollar spot exchange rate equal to the rate set forth on Reuters Page BOFC, under the headings 'Bank of Canada'; 'Canadian Dollar Exchange Rates'; 'NOON' opposite the caption 'USD' as of 12:00 p.m. noon, Toronto time, (the 'FX Rate') [on each Friday in the Calculation Period] (the 'FX Rate Calculation Date'), provided, however, that if [such] FX Rate Calculation Date is not a Toronto Business Day, the FX Rate will be determined on the Toronto Business Day immediately preceding such FX Rate Calculation Date." I put square brackets around the parts that I changed. Thanks Tracy Ross, Counsel, Royal Bank of Canada Phone: 416-974-5503; Fax: 416-974-2217 File - This email may be privileged and confidential.? Any dissemination or use of this information by a person other than the intended recipient(s) is unauthorized.? If you receive this in error, please advise me immediately. -----Original Message----- From: Sara.Shackleton@enron.com [mailto:Sara.Shackleton@enron.com] Sent: September 28, 2000 7:14 PM To: TRACY.ROSS@ROYALBANK.COM; bordenr@macleoddixon.com Subject: Confirm Sara asked me to send you the attached. Kaye (See attached file: ECCRBCnymexR1.doc)
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