Re: Merrill

I'm working on the Merrill/Belco assignment of trades with, I guess, Sara.
Mark Taylor signed off yesterday on the assignment that appears to again have
been executed by Fred without Legal's initials. It appears the date Fred
signed it is about the time Mark Taylor talked to him about not signing
contractual documents without Legal's initials.

There appears to be two differences in the redone confirms Merrill sent us:
(1) they added a Fallback Reference Price, and (2) they have changed the
settlement and/or payment dates in the confirms.

Bernice said Sara signed off on a similar Fallback Reference Price in some
confirms she had previously done with Merrill, so I briefly discussed this
with Sara before she had to leave for lunch. We'll look at it some more
after lunch.

On the change in the settlement/payment dates, I told Bernice they were
changing the deal and she needed the business guy on the transactions to sign
off on that change. She was going to take the confirms to Fred and get him
to sign off that that is what he's agreed to.

Now, if Sara doesn't know anything about the additional Fallback Reference
Price, we'll obviously have to take that back to the dealmaker to sign off on
too.

Are you also working on this?

So that's what's going on...