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Enron Mail |
Jorge:
The Bank of Montreal ("BMO") master agreement provides for Market Quotation in the event of early termination for non-commodity based products. BMO prepared the letter to document our agreement to a different valuation methodology for the terminated transaction. Please execute the letter. P.S. Do know the difference between Market Quotation and Loss? 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 Jorge A Garcia@ENRON 02/09/2001 04:22 PM To: Sara Shackleton/HOU/ECT@ECT cc: Laurel Adams/HOU/ECT@ECT Subject: Bank of Montreal- Early Termination Letter Good Afternoon Sara, I wanted to document our discussion this afternoon regarding the Early Termination Letter for our Deal No. M368796 that settled on 2/2/01, with the Bank of Montreal. You stated that the Master ISDA Agreement states that the valuation method for early termination should be the process of obtaining Market Quotations from Reference Market Makers. This Early Termination Letter reflects that BMO determined the value through its ordinary valuation methods instead. This was agreed upon by, the trader, Ellen Su. Therefore, you provided your approval for us to execute this letter. Please respond with your agreement for our files. Many Thanks, Jorge A. Garcia Manager- Risk Management Enron Global Markets LLC 713/853-5596
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