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Enron Mail |
Robin,
At Jeff's request, I have reviewed the attached form which National Fuel provided. It is not designed to operate as a Trading Contract. Transactions are only formed by signing an Exhibit A to be prepared by National. The Exhibit A is to have a Daily Transaction Quantity and National may nominate from 0 to 100% of that quantity each day. Penalties only arise if the actual quantity deviates from their nominated quantity. Seller to pay difference between Buyer's replacement price and the Gas Commodity Charge times the deficiency quantity. Buyer to pay difference between the Gas Commodity Charge and the Daily Midpoint Price times the deficiency quantity. Does not state what quantity is to be applied against the Gas Demand Charge; however, does state that if Seller has a force majeure the Gas Demand Charge is only applied against the actual volumes that Seller delivers and that the Gas Demand Charge is not reduced if Buyer declares a Force Majeure. Buyer's payments are to be trued up to the actual quantities delivered should actuals deviate from the nominated quantities. Please note the comments I provided to you last year relating to this counterparty. All of those comments are applicable to this Contract form. I have attached that memo for your review. Please let me know how you would like to proceed with this matter. Jeffrey T Hodge 06/08/2001 08:48 AM To: Dan J Hyvl/HOU/ECT@ECT cc: Subject: FW: National Fuel's Standard Master Gas Purchase Contract Dan: Could you look at this? I think we have reviewed it several times before and there should be a file. Thanks Jeff ----- Forwarded by Jeffrey T Hodge/HOU/ECT on 06/08/2001 08:47 AM ----- Robin Barbe/ENRON@enronXgate 06/08/2001 07:59 AM To: Jeffrey T Hodge/HOU/ECT@ECT cc: Subject: FW: National Fuel's Standard Master Gas Purchase Contract jeff, can you please review this contract and comment. thanks -----Original Message----- From: "Susan Bautista" <BautistaS@NATFUEL.COM<@ENRON [mailto:IMCEANOTES-+22Susan+20Bautista+22+20+3CBautistaS+40NATFUEL+2ECOM+3E+40 ENRON@ENRON.com] Sent: Thursday, June 07, 2001 3:07 PM To: Barbe, Robin Cc: John Tammaro Subject: National Fuel's Standard Master Gas Purchase Contract Attached is National Fuel's gas purchase contract for your review (in Word). - STND-AGR.DOC
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