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Enron Mail |
Wendi: Following is a quick message I shot off to Caroline. She will wait
for us to call. 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 03/02/2001 11:38 AM ----- Sara Shackleton 03/02/2001 11:24 AM To: Caroline Abramo/Corp/Enron@ENRON cc: Subject: RE: POA/ Cargill line... I think these guys are trying to create a $35M line ($15M Collateral Threshold from the ISDA Credit Support Annex and a separate $20M line for the Global agency trading). All trading with Cargill will be subject to the ISDA Master Agreement and Credit Support Annex. Wendi and I discussed briefly and we'll call you later. It seems that Wendi has spoken with Mark Rubenstein who handles credit and there is some confusion. 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 Caroline Abramo@ENRON 03/02/2001 10:46 AM To: Wendi LeBrocq/Corp/Enron, Sara Shackleton/HOU/ECT@ECT cc: Subject: RE: POA/ Cargill line... what do you think? ---------------------- Forwarded by Caroline Abramo/Corp/Enron on 03/02/2001 11:44 AM --------------------------- Joe_Lardy@cargill.com on 03/02/2001 10:39:03 AM To: Caroline.Abramo@enron.com cc: dlm@globaladvisors.co.uk, Sara.Shackleton@enron.com, Wendi.LeBrocq@enron.com Subject: RE: POA/ Cargill line... Currently Cargill and Enron have a 15MM collateral threshold. If possible, I think the cleanest way to run this biz would be to put a box around the prime broker biz. We would still operate under the master isda but could set up a mutually agreeable credit support annex for this biz. We would still keep the 20,000,000 line referenced in Schedule B of the POA agreement. The line in the POA is a seperate and distinct measure from the daily collateral. The 20 mill reflects gross exposure. Let me know if you think this is reasonable and workable. We too, are open to suggestion as the Global and Enron relationships are very important and a high priority to us. Thanks Joe -----Original Message----- From: Caroline.Abramo@enron.com [mailto:Caroline.Abramo@enron.com] Sent: Friday, March 02, 2001 7:26 AM To: lardy, joe /xtwn Cc: dlm@globaladvisors.co.uk; Wendi.LeBrocq@enron.com; Sara.Shackleton@enron.com Subject: POA/ Cargill line... Joe- a few things regading the POA/ Cargill line.. I am going to find out how much line we currently have available... you probably already have this. We should allocate a piece to Global which would solve the problem of other Cargill people using the line, putting us over the limit, without me knowing... We could change the language of the POA to this... we will not go over Global's piece of the Cargill line...I think this would solve our main concern... Please let me know... we are eager to keep trading with Global and yourselves... Regards, Caroline
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