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As far as I know, this is the policy for all online trading. Did I miss
something? Debbie R Brackett 10/15/99 10:34 AM To: Justin Boyd/LON/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Stacy E Dickson/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT cc: Lee Munden/LON/ECT@ECT, David Weekes/LON/ECT@ECT, Tom Moran/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, William S Bradford/HOU/ECT@ECT, Molly Mathes/HOU/ECT@ECT Subject: Re: EOL - Master versus Online GTCs I understand this is our stance here in the US for financial trades......but why the difference in physical? English law? David Hardy 10/15/99 09:16 AM To: Lee Munden/LON/ECT@ECT, David Weekes/LON/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT cc: Subject: EOL - Master versus Online GTCs fyi ---------------------- Forwarded by David Hardy/LON/ECT on 15/10/99 14:17 --------------------------- Justin Boyd 15/10/99 09:16 To: Amita Gosalia/LON/ECT@ECT, Meagan Brinkworth/LON/ECT@ECT cc: Mark Taylor/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, David Hardy/LON/ECT@ECT Subject: EOL - Master versus Online GTCs The underlying contractual structure for trades effected on-line between the relevant Enron entity and a Counterparty is as follows: if there is an existing Master for the particular product between the contracting parties, that Master will govern on-line trades. if there is no Master between the parties, then the applicable on-line GTCs will apply. If the terms of a Master are unacceptable to us for whatever reason (e.g. due to insufficient credit provisions), then it may be appropriate to terminate that Master. If however, we wish to keep a Master in place but do not wish to use it for on-line trades, then the counterparty needs to be notified of this and give its consent. Such notice could state that until the Master had been suitably amended (i.e. by the negotiation of new credit provisions), then the on-line GTCs will apply. Justin
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