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Enron Mail |
Thanks for persisting and getting to the bottom of this -- Sara and I will
discuss and get back to you. It will probably be next week. Regards, Janice EB3861 Assistant General Counsel, Enron North America Corp. 713-853-1794 (Fax: 713-646-4842) Kim S Theriot 27/06/2000 12:42 To: Janice R Moore/HOU/ECT@ECT cc: Sara Shackleton/HOU/ECT@ECT Subject: Re: Confirmation Letter Janice/Sara, I had a message from Joe Hunter regarding the attached proposed letter. He said that this has not been implemented yet. This is a proposal and it was based on Southern's format that they sent us for review. He said that they are only going to use this for 4-5 financial counterparties. So the real question is....Does legal approve of this method? If approved, then we will target certain counterparties for Power (probably some of the major players). It will eliminate the need to sign the confirmations. It will not eliminate the need to check the commercial terms and legal terms of the confirms. It will not eliminate the need to send a copy of the confirmation to the file. It will not eliminate the need to send a copy of the "list" to the file (there will need to be a copy made for each deal to be placed in each file). I do not see where we are gaining a great deal of time savings with this method. In instances where we send our confirm when we are the Seller and the Counterparty sends their confirm when we are the Buyer...both of us would be preparing this schedule. Overall, I am not opposed to this method. I do want to talk to commercial and make sure they are in agreement. Just let me know the final word from legal. Thanks! Kim Theriot Janice R Moore 06/19/2000 02:28 PM To: Kim S Theriot/HOU/ECT@ECT cc: Subject: Confirmation Letter fyi Regards, Janice EB3861 Assistant General Counsel, Enron North America Corp. 713-853-1794 (Fax: 713-646-4842) ----- Forwarded by Janice R Moore/HOU/ECT on 19/06/2000 14:27 ----- Elizabeth Sager 19/06/2000 14:25 To: Janice R Moore/HOU/ECT@ECT cc: Subject: Confirmation Letter ----- Forwarded by Elizabeth Sager/HOU/ECT on 06/19/2000 02:25 PM ----- Carol St Clair 06/16/2000 09:25 AM To: Sara Shackleton/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Stacy E Dickson/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT cc: Larry Joe Hunter/HOU/ECT@ECT Subject: Confirmation Letter Joe Hunter has asked me to draft a form of confirmation reply letter that we could send to our counterparties in lieu of signing their confirmations. This form of letter with the appropriate chnages could also be used by those counterparties that we confirm. Please let me know if you have any comments on this form or any concerns about implementing this process. Thanks. Carol
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