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Enron Mail |
You're right, we have not agreed to the final sentence with any of our other
counterparties. I doubt that the EOL people will let us do it (though we can always ask). I have sometimes gotten counterparties comfortable with this issue by suggesting that the master user id and password should be held by someone in the back office, the control group or even the legal department so that when a trader leaves the master user can immediately shut them off. It seems to me that this puts the risk and responsibility for dealing with rogues where it belongs - why should we be at risk if one of their traders decides to damage the company? Having said that, I think that even without the last sentence requested we are probably in that position - if we have actually received the notice and request for termination of the password and don't do it, it would be very hard to defend if we kept doing trades and they can show they weren't authorized. Leslie Hansen 07/20/2000 12:25 PM To: Mark Taylor/HOU/ECT@ECT cc: Subject: Kennecott ETA Mark: As I mentioned in my voice mail, Kennecott Coal Sales has requested the following modification to the ETA: Section 6(a) shall be revised to provide that Enron shall use reasonable efforts to cancel CP's master user password and/or user IDs upon receipt of notice from CP. Notwithstanding anything in Section 6(e) to the contrary, all such notices must be sent by certified mail to Enron at the following address: [TO COME], or such other address as may be specified by Enron from time to time. The notice shall be deemed effective five (5) days after its receipt by Enron. After the effective date of the notice, the Counterparty shall have no liability to Enron for any Transaction initiated with the use of the master user password and/or user ID identified in the notice. Please advise. Leslie
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