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Enron Mail |
Susan:
Regarding "Energy New England LLC", I found the attached. Please let me know what we actually prepared in the past (if anything). In any event, we will need the latest update as well as an update from credit. Sara Sara Shackleton Enron North America Corp. 1400 Smith Street, EB 3801a Houston, Texas 77002 713-853-5620 (phone) 713-646-3490 (fax) sara.shackleton@enron.com ----- Forwarded by Sara Shackleton/HOU/ECT on 01/18/2001 10:40 AM ----- Sara Shackleton 10/25/2000 02:13 PM To: jimdelani@aol.com cc: Joe Gordon/Corp/Enron@Enron, Edward Sacks/Corp/Enron@Enron, Susan Bailey/HOU/ECT@ECT Subject: ISDA Master Agreement prepared by Enron North America Corp. ("ENA") Jim: Pursuant to our recent conversation, I have attached below a DRAFT of ENA's standard (1) municipal ISDA Schedule and (2) Paragraph 13 to the ISDA Credit Support Annex. These two documents are intended to supplement the boilerplate for the ISDA Master Agreement and the ISDA Credit Support Annex. The forms are generic, that is, they have not been tailored for use by a specific municipal counterparty; they would necessarily be the subject of specific negotiations. Energy New England's agency relationship with the various municipalities appears to cover physical trading. Notwithstanding the agency agreement, the financial trading world requires much more specificity, including but not limited to, evidence of authority to execute a master financial agreement and transactions thereunder. Additional information, including a legal opinion, is also required. I assume from our prior conversation that you already have in your possession copies of the ISDA boilerplate. Please advise otherwise. You should feel free to contact Ed Sacks with questions regarding collateral support documentation. As I mentioned, the attached Paragraph 13 has not been customized. Please feel free to call if you have any questions. Sara
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