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Enron Mail |
Sara,
Attached is the last draft in our directory; believe this is the most recent copy Regarding the OMNIBUS agreement, I found a copy from Brad and I believe it is a standard document. However, it appears as if we were originally planning to add some language to cover credit issues. As the deal is now structured, CCSI pays us the entire amount of 9.9 MMUSD up front, instead of in tranches. If the spark spread swaption were to somehow become effective, CCSI would never have to pay Enron additional funds under any scenario, we only can pay out to them if they elect to exercise at the end of any given month during the 2003-2013 period in which the swaption could become effective. If the swaption is out of the money, CCSI will never exercise for that month. Therefore, the only possible exposure on the credit side that I can now think of is the initial period between the actual signing of the deal and the actual transfer of the funds. I don't have an electronic copy of the OMNIBUS documentation, we only ever had a hard copy. Regards, Barton Clark 10/11/99 01:52 PM To: Sean Black/HOU/ECT@ECT cc: Subject: Re: Spark Spread Confirmation Sara asked to see exactly what form of confirmation you are looking at since she has several drafts on her system. Could you E-Mail to her (cc me) the version you are looking at so she can confirm we are on the same page? Thanks.
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