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Enron Mail |
1. We should not terminate. Sara will call Joel to discuss.
2. If the Raptor process documentation I prepared several months ago (and to which we all agreed) is being altered, it would be appreciated if the swap attorneys and Lisa Mellencamp could be a part of discussing changes, and minimally, be advised of any changes. Thank you. Cordially, Mary Cook Enron North America Corp. 1400 Smith, 38th Floor, Legal Houston, Texas 77002-7361 (713) 345-7732 (phone) (713) 646-3490 (fax) mary.cook@enron.com Joel Ephross/ENRON@enronXgate 02/28/2001 09:15 AM To: Mary Cook/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT cc: George McKean/NA/Enron@Enron, Ron Baker/Corp/Enron@ENRON, Brenda L Funk/ENRON@enronXgate, Gordon McKillop/NA/Enron@ENRON, Lisa Mellencamp/HOU/ECT@ECT Subject: RE: assignment of trade to Raptor vehicle I assume that what this e-mail relates to is the discussed "transfer" of the 2 LDC swaps from Raptor 2 to Raptor 4. Frankly, I do not know what it means to assign a swap from 1 of these vehicles to another vehicle. I think that in general the schedules to the ISDAs that each of the 2 sets of parties executed are the same, but what happens in the case of differences? My rather simplistic approach would be to terminate the existing swaps in Raptor 2 and execute new swaps at the same time and on the same terms in Raptor 4. Unless anyone objects, I propose that we proceed along the lines outlined above, using the Raptor process documentation developed by Lisa and recently updated by Gordon. We recently [like yesterday] received closing books on Raptor 3 and distributed those. If Anyone needs documentation on the other 3 structures, let us know....[Realizing that they are about to change due to the planned merger of Raptor 1, 2 and 4 into Mega-Raptor -- sounds like a bad Rug-Rats movie I recently had the misfortune of viewing doesn't it?] -----Original Message----- From: Cook, Mary Sent: Wednesday, February 28, 2001 8:29 AM To: Shackleton, Sara Cc: Ephross, Joel Subject: Re: assignment of trade to Raptor vehicle No. I guess the first step is to know into which Raptor the swaps are moving and to get Joel to give us a closing book on that Raptor so we can get the correct parties etc. Attached is an assignment/assumption document I drafted for the VPP transaction which might be helpful (of course, it has a lot of inapplicable specifics) . We ought to also check with Joel about any provisions in the rest of the vehicle docs that may apply to an assignment. I would think that if all parties join and consent and provide no ED or TE under the ISDAs shall occur on the basis of the assignment that it would be clean from the ISDA point of view. Mary << File: assignment Brazos Pres 2.doc << Cordially, Mary Cook Enron North America Corp. 1400 Smith, 38th Floor, Legal Houston, Texas 77002-7361 (713) 345-7732 (phone) (713) 646-3490 (fax) mary.cook@enron.com Sara Shackleton 02/28/2001 08:21 AM To: Mary Cook/HOU/ECT@ECT cc: Subject: assignment of trade to Raptor vehicle Mary: Do you have a form of "approved" assignment for transferring trades into the Raptor vehicle? 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
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