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Enron Mail |
Scott,
Legal's position is exactly as Rob Cass explained on his email below. You can also confirm it with whether Gerald Nemec x33512 (he created both, GTC & P. Desc.) or with Mark Taylor. Please let me know if you have any questions. Thanks, Carlos ---------------------- Forwarded by Carlos Alatorre/NA/Enron on 11/08/2000 10:53 AM --------------------------- Robert B Cass@ECT 11/08/2000 10:35 AM To: Jennifer deBoisblanc Denny/HOU/ECT@ECT cc: Dale Neuner/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT, Torrey Moorer/HOU/ECT@ECT, Lisa Lees/HOU/ECT@ECT, Carlos Alatorre/NA/Enron@Enron Subject: Re: New Product Type: US Pipeline Capacity Release I believe that it would be Legal's position that we not ignore the reference to the "General Terms and Conditions" since it serves as additional terms to the "special terms" of the transaction. GTC's allow for resolution of payment failure, force majeure, liability, etc. To include it in the description guarantees that those terms are included. Without the inclusion, the product description would have to be expanded to include many (if not all) of the terms contained in the GTC. Eventhough the transaction may not be "confirmed," the Counterparty may elect to request the GTC at any time. Reason? The GTC resolves potential conflicts and defines the rights of the parties. The counterparty may not necessarily require a confirmation. Ultimately, Legal will need to approve the action if the GTC is removed from the product description, but I would be interested to know on what basis they would allow the GTC to be dropped from the description. These are my thoughts (recommendations?). - Rob From: Jennifer deBoisblanc Denny 11/08/2000 08:35 AM To: Dale Neuner/HOU/ECT@ECT, Robert B Cass/HOU/ECT@ECT cc: Sheri Thomas/HOU/ECT@ECT, Torrey Moorer/HOU/ECT@ECT, Lisa Lees/HOU/ECT@ECT Subject: New Product Type: US Pipeline Capacity Release fyi Dale/Rob Were are your thoughts on the GTC question? ---------------------- Forwarded by Jennifer deBoisblanc Denny/HOU/ECT on 11/08/2000 08:34 AM --------------------------- From: Scott Mills 11/08/2000 12:56 AM To: Jennifer deBoisblanc Denny/HOU/ECT@ECT cc: Bob Bowen/HOU/ECT@ECT, Sylvia A Campos/HOU/ECT@ECT, Russ Severson/HOU/ECT@ECT, George Grant/HOU/ECT@ECT, Steve Venturatos/HOU/ECT@ECT, Victor Lamadrid/HOU/ECT@ECT, Edward Terry/HOU/ECT@ECT, Robert Superty/HOU/ECT@ECT, Bob M Hall/NA/Enron@Enron Subject: New Product Type: US Pipeline Capacity Release The product description specifically designates a GTC -if we are not confirming the transactions should we make this reference? Other than that, it seems ok. For those that have not been involved in the discussions, this type of transaction will not bridge automatically from EOL to Sitara. It will have to be monitored and entered manually. Since this will be a capacity release deal, the pipeline contract number that we a releasing will be a crucial piece of information when entering the transport capacity deal. SRM (x33548) ---------------------- Forwarded by Scott Mills/HOU/ECT on 11/08/2000 12:43 AM --------------------------- From: Carlos Alatorre @ ENRON 11/07/2000 07:18 PM To: Scott Mills/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Frank Hayden/Corp/Enron@Enron, Tom Moran/HOU/ECT@ECT, Jeff Blumenthal/HOU/ECT@ECT cc: Gerald Nemec/HOU/ECT@ECT, Dale Neuner/HOU/ECT@ECT Subject: New Product Type: US Pipeline Capacity Release A new Product Type has been created for US Gas Capacity Release (US Pipeline Capacity Release). We will certainly appreciate your approval so we can move forward and have everything ready for launching on Wednesday Nov. 15th. Below you can see an example of the Prod. Description in case you can not see the complete text on Datamanager. If you have any questions or comments please let me know. Thanks Carlos X5-8705
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