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Enron Mail |
Dale:
I'm fine substituting the language referenced in the UK description you attached below so that this product description reads as follows: A US Power financial Swap Transaction with Enron North America Corp., under which the Seller pays a Floating Price and the Buyer pays the price submitted by Counterparty on the website (the Fixed Price) in each case in respect of the Notional Quantity per Determination Period. Each calendar month during the term of the Transaction or the term of the Transaction if it is less than a calendar month will be a Determination Period. The Determination Period shall be each calendar month during the term of the Transaction; provided that, if the term of the Transaction is less than one calendar month the Determination Period shall be the term of the Transaction. The Notional Quantity per Determination Period shall be the volume for the relevant Determination Period (calculated using the volume submitted by Counterparty via EnronOnline). The Payment Date(s) will be 5 business days Business Days after the Floating Price is determinable. Leslie Dale Neuner on 02/29/2000 09:11:35 AM To: Leslie Hansen/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT cc: Subject: Re: US Power Fin Swap Description I was pleased to learn recently trhat we have already contemplated this issue in UK Gas. If there are no objections, I would like to adopt this and stay consist in what we post to the website. Here's that description: A Transaction under which one Party pays a Floating Amount and the other Party pays a Fixed Amount in respect of the Notional Quantity per Determination Period. The Determination Period shall be each calendar month during the term of the Transaction; provided that, if the term of the Transaction is less than one calendar month the Determination Period shall be the term of the Transaction. The Fixed Price shall be the price submitted by Counterparty via EnronOnline. The Floating Price shall be Index. The Notional Quantity shall be the volume for the relevant Determination Period (calculated using the volume submitted by Counterparty). The Payment Date(s) shall be the fifth Business Day following the date on which the Floating Price is determinable. The Transaction shall be arranged by Enron Europe Finance & Trading Limited on behalf of Enron Capital & Trade Resources International Corp. ("Enron"). Leslie Hansen 02/24/2000 01:02 PM To: Dale Neuner/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT cc: Michael Etringer/HOU/ECT@ECT Subject: US Power Fin Swap Description Here's my proposed Description of the above-referenced product as discussed with Mark: A US Power financial Swap Transaction with Enron North America Corp., under which the Seller pays a Floating Price and the Buyer pays the price submitted by Counterparty on the website (the Fixed Price) in each case in respect of the Notional Quantity per Determination Period. Each calendar month during the term of the Transaction or the term of the Transaction if it is less than a calendar month will be a Determination Period. The Notional Quantity per Determination Period shall be the volume for the relevant Determination Period (calculated using the volume submitted by Counterparty via EnronOnline). The Payment Date(s) will be 5 business days Business Days after the Floating Price is determinable. The Floating Price shall be the average of the Index for each day in the relevant Determination Period. I'd be happy to look over a full blown product example to make sure that the Index descriptions work with these products after you have built one. Leslie
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