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Enron Mail |
Thanks for the feedback on the ISDA I got from Alan and Shari. I perhaps did
not put the suggested changes in the ISDA Schedule in their full context. Recently we have received 2 ISDAs which included provisions that incorporate by reference Australian Addendum that relate to FX, currency and interest products and the like. Normally we only reference the Addenda that relate to electricity and commodities. The ralionale for seeking of this alternative ISDA form was to allow us the discretion have these provisions remain whilst following an agreed Enron trading form. Whilst EAPL is not authorised to trade these products we would have the flexibility to do so if the situation were to change in the future. By way of comparison we include provisions to allow trading in respect of non-electricity commodities but do not do so. Anyway as Shari and I discussed perhaps it is better that we drop the amendments to produce an alternative Australia ISDA with a broader scope. l Alan Aronowitz@ECT 02/15/2000 08:36 AM To: Mark - ECT Legal Taylor/HOU/ECT@ECT, Shari Stack/HOU/ECT@ECT cc: David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: Australia ISDA Schedule David Minns has recently sent to me a proposal to revise the ISDA Schedule being currently used in Australia ("Proposal"). Today, I am going to forward the Proposal (which includes a redline against the current version, a memo from David justifying the changes, and a note from our outside counsel) to the two of you, our in-house experts, under a copy of this e-mail. I believe I'm in agreement with the changes posed by David. Please advise me and David if you have any issues with the modifications he is proposing. Mallesons our law firm in Sydney, has reviewed the changes and approved of them. If we do not hear back within a week, we will assume that the changes are acceptable from your standpoint and begin using the form in its revised state. Thanks in advance for your help. Alan
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