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Enron Mail |
I would like to use the following for the Flexible Pricing. The last sen= tence regarding the keep whole verbiage I think you will want to delete th= is as it does not allow for Force Majeure. FLEXIBLE PRICING: During the Period of Delivery for a Transaction, Custome= r may request a price other than the original Contract Price, being a Fixed= Price or (each below defined) by contacting Company during Pricing Hours r= equesting any such price for a specified quantity of Gas to be Scheduled du= ring selected Months within the Period of Delivery; provided, such request = must be made prior to 12:00 noon C.T. of the last Business Day prior to the= last trading Day of the NYMEX Gas futures contract for the selected Month.= A Confirmation may be sent by Company to Customer confirming the Flexible= Pricing agreement in accordance with Exhibit "A" "Fixed Price" means a fix= ed dollar amount agreed to by the Parties. The price for all Gas for which= a Flexible Price has not been agreed by the Parties shall be the original = Contract Price applicable to the Transaction. "Notwithstanding anything to= the contrary contained in this Confirmation or the GTC, upon Customer's ac= ceptance of Fixed Price, Customer shall keep whole and hold Company harmles= s for all cost and expenses incurred by Company with respect to the quantit= y of Gas that is converted into a Fixed Price, in the event that such quant= ity of Gas is not Scheduled by Customer for any reasons, including without = limitation events of Force Majeure. For the Section "Daily Pricing for Physical for Physical Call Option" =20 Daily Pricing means the "Daily Midpoint" price set forth in Gas Daily Platts, a division of The McGraw-Hill Companies, or successor publication,= in the column "Daily Price Survey" under the listing applicable to the geo= graphic location closest in proximity to the Delivery Point(s) for the rele= vant gas day. If there is no single "Daily Midpoint" price published for t= hat particular Gas Day, but there is published a "Common" range of prices u= nder the above column and listing, then the Spot Price shall be the average= of such "Common" high and low prices. In the event that no 'Daily Midpoin= t" price or "Common" range of prices is published for that particular Gas D= ay, then the Spot Price shall be the average of the following: the price (d= etermined as stated above) for each of the first Gas Day immediately preced= ing and following the Gas Day in which the default occurred for which a Spo= t Price can be determined. Let me know what you think. dp Debra Perlingiere Enron North America Legal 1400 Smith Street, EB 3885 Houston, Texas 77002 Debra.Perlingiere@enron.com 713-853-7658 713-646-3490 Fax
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