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Enron Mail |
Mark, have you had a chance to look at this stuff yet? Our power trader was
by to see me today for an update. He also raised another issue relating to the ENA-ECC ISDA services agreement. He asked how we deal with the situation where a counterparty that has an ISDA with ENA wants to trade one of these ECC financial power products with ECC through EOL. Does the long description need to indicate that the counterparty will be contracting with either ECC or ENA? Does the counterparty simply hit this product and through our internal process it is caught that the deal should be confirmed with ENA and back-to-backed with ECC under the services agreement? I was unclear on how the process works. Thanks Greg ---------------------- Forwarded by Greg Johnston/CAL/ECT on 10/25/2000 04:05 PM --------------------------- Greg Johnston 10/23/2000 08:28 AM To: Mark Taylor/HOU/ECT@ECT cc: John Zufferli/CAL/ECT@ECT, Dianne Seib/CAL/ECT@ECT Subject: Re: EOL Power Products Mark, our commercial people have reviewed your proposed changes to the first of the Canadian EOL Power Products. As stated in the message below, we are fine with those changes. Also, John addresses your question on price modifications. Doesn't the ISDA already contain language that will allow for post-payment adjustments? I wouldn't have thought we would need to address that issue in the long description. I would suspect that the same changes would flow through to the other two product descriptions, as they are all very similar, but would ask that you have a look at the other two descriptions and provide any comments on them. Thanks Greg ---------------------- Forwarded by Greg Johnston/CAL/ECT on 10/23/2000 08:25 AM --------------------------- John Zufferli 10/23/2000 07:12 AM To: Greg Johnston/CAL/ECT@ECT cc: Subject: Re: EOL Power Products The wording looks fine to me. As fas the price modifications go, as I said before we can extend the payment dates to the end of the month following a Determination Period or would put language in the document that enables us to settle up after payments in the event a restatement occurs.
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