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Enron Mail |
Great memo!
Just a couple of notes. B 1 (b): I think the master gas contract form includes Affiliates on non-defaulting party side--see end of Article 4. If a Triggering Event occurs, the Notifying Party may (at its election) set off any or all amounts which the Affected Party owes to the Notifying Party or its Affiliates (under this Agreement or otherwise) against any or all amounts which the Notifying Party owes to the Affected Party (either under this Agreement or otherwise). B 2 (f): The analysis is based upon Enron default. If counterparty default analysis is used, Enron benefits; and don't all contracts at least have all transactions terminating if bankruptcy is the triggering event? Cordially, Mary Cook Enron North America Corp. 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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