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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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