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Enron Mail |
Here are a couple of comments after my discussions with AA regarding the
Lehman Forward. I would like a proviso in the introduction of the forward that explicitly states that "it is the intent of the parties that this contract does not give Party A any of the rights that rank senior to a common shareholder of ENE Corp." I believe this is the economic deal that Lehman is agreeing to and would like the explicit statement to provide comfort on the accounting side. Given that this contract is governed by a Master ISDA, are there any circumstances that the Master ISDA would provide for cash settlement for something that is outside the control of Enron? AA and I are not sure of the answer to this question and are soemwhat confused on the point of netting and setoff procuedures under the Master ISDA.
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