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Enron Mail |
Please forward to Louise as I did not have her email address. Thank you.
Further to documents previously submitted, please note: TAX: Regarding tax provision with HQUS set forth in the ISDA, our tax department does require the representation in our US to US masters. Please have your tax attorney discuss this with our tax attorney, Morris Clark at 713 853-5846. Further, upon review of our tax comments as to the guaranty, I have been advised by our tax department that the FORM W 8BEN will not be necessary, therefore, the one sentence paragraph in my comments immediately following Specified Jurisdiction should be deleted. OPINIONS: As I referenced in our conversation today, in respect of the HQ opinion, the definitional structure is intended to cover the Guaranty and the ISDA to the extent ISDA representations concern HQ as Guarantor and joining the ISDA for effecting such specific representations. In connection with the Guaranty, it is intended that the opinion cover the Guaranty as it relates to supporting the particular types of underlying obligations to be entered into by HQUS and ENA, which we understand to be both hedge derivatives and speculative derivatives for up to multiple years. BOARD MINUTES: My reading of the resolutions submitted suggests that HQ guaranties for financial derivative transactions are not affirmatively authorized thereby. Are there other resolutions? We are all available for call at 10 your time on Monday. Enron North America Corp. Mary Cook 1400 Smith, 38th Floor, Legal Houston, Texas 77002-7361 (713) 345-7732 (phone) (713) 646-3490 (fax) mary.cook@enron.com
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