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Enron Mail |
Tanya: Yes, there is an outstanding issue. Please read the attached and let
me know when you'd like to discuss. Thanks. Sara ---------------------- Forwarded by Sara Shackleton/HOU/ECT on 05/01/2000 12:09 PM --------------------------- Sara Shackleton 04/21/2000 09:04 AM To: Tanya Rohauer/HOU/ECT@ECT cc: Susan Flynn/HOU/ECT@ECT Subject: Cargill, Incorporated Tanya: I left you a voice mail earlier this week on the single outstanding issue: paragraph (B) of our setoff language. This provision allows the nondefaulting party to withhold any payment it might owe to the defaulting party under the master until the nondefaulting party can be certain IN ITS REASONABLE DISCRETION that ANY other payments owed to it (under ANY other agreements between the parties) by the defaulting party have been paid. Cargill does not want to "comingle" its business. Remember, we have already given in on "affiliate setoff". [the lawyer never raised the paragraph (B) issue until this week!] Also, Cargill has requested that we change our Credit Support Amount definition (but I provided them with an explanation) AND Cargill has decided to issue transferable L/C's. Please let me hear from you so that we can finalize. I do not know if this is a deal breaker.
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