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Enron Mail |
Tyrell, I have made some revisions to the latest drafts of the letter
agreement and your cover letter. Please review. As I noted earlier, Barry indicated he had some language that he wanted to revise concerning the mark to market. I have not been able to contact him yet. So unless Mark and Barry have talked, probably need to hold these until you or I hear from Barry. Also, if we are going to do any of these transaction with a Canadian party, Peter Keohane and Eric Ledain need to comment on this form. I have sent them an earlier version and I am copying them here. I will be in a meeting until about 3:30 pm central and will be available after that. I again want to reiterate, that if the assignment takes place after the firm transport agreements are signed, Kern could require the assignment to be done via the capacity release bidding procedures of their tariff. I noticed that one of the packages is less than 1 year in term. This means it could also be bid up in excess of max rate. Anything over 1 year could only be bid to max rate. We may want to add a provision that to the extent the capacity is assigned via capacity release and it is bid up beyond max rate, ENA will have no obilgation to take the capacity and make the mark to market payment. Probably need to discuss this with Mark.
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