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Enron Mail |
Yair:
Tracy has agreed to the language below which would be added as (d) to the "Transfer" section: 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 ----- Forwarded by Sara Shackleton/HOU/ECT on 04/13/2001 03:22 PM ----- Sara Shackleton 04/13/2001 03:13 PM To: Tracy Ngo/PDX/ECT cc: Subject: RE: ISDA Schedule/Paragraph 13 Tracy, how is this: Regarding the "Transfer" language for Allegheny (Party B), we have the following proposal: "Party B may transfer its rights and obligations under this Agreement, in whole but not in part, to any Affiliate provided that (1) such transfer will not give rise to a Termination Event or an Event of Default, and (2) (i) the creditworthiness of the Affiliate is not materially weaker than that of Party B immediately prior to such transfer, unless Party B provides a satisfactory guaranty or credit support to the Affiliate, or (ii) the proposed Affiliate satisfies the criteria that Party A applies in deciding whether to offer or make an extension of credit or to enter into transactions similar to the Transactions subject to the proposed transfer." 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 "Yaish, Yair (OGC)" <YYaish@exchange.ml.com< 04/13/2001 08:42 AM To: "'Sara.Shackleton@enron.com'" <Sara.Shackleton@enron.com< cc: Subject: RE: ISDA Schedule/Paragraph 13 I hope to leave by 3:30 Eastern Time. Thanks for getting back to me so quickly. Though, I'm surprised u guys are open for business today. -----Original Message----- From: Sara.Shackleton@enron.com [mailto:Sara.Shackleton@enron.com] Sent: Friday, April 13, 2001 9:41 AM To: YYaish@exchange.ml.com Subject: RE: ISDA Schedule/Paragraph 13 Yair: I've left a message with Tracy Ngo (in Portland) and will let you know as soon as I hear from her. How long will you be in the office today? 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 "Yaish, Yair (OGC)" To: "'Sara.Shackleton@enron.com'" <Sara.Shackleton@enron.com< <YYaish@exchan cc: ge.ml.com< Subject: RE: ISDA Schedule/Paragraph 13 04/13/2001 08:28 AM Sara, Allegheny would like to be able to assign to affilaites in the same manner that we are allowing Enron to make an ssignment so long as the Gty goes along. In our case, however, there is no gty, hence the stipualtion that such assignment must be to an entity with an equal or better credit rating. If you wish, I can limit such assignment to an entity rated at least BBB+ or better. Would that resolve your concerns? -----Original Message----- From: Sara.Shackleton@enron.com [mailto:Sara.Shackleton@enron.com] Sent: Thursday, April 12, 2001 12:26 PM To: YYaish@exchange.ml.com Subject: RE: ISDA Schedule/Paragraph 13 Yair: It's a good thing you didn't try to get back to me! Sorrry. (See attached file: AlleghenyCPformacceptR1.DOC) 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 "Yaish, Yair (OGC)" To: "'Sara.Shackleton@enron.com'" <Sara.Shackleton@enron.com< <YYaish@exchan cc: ge.ml.com< Subject: RE: ISDA Schedule/Paragraph 13 04/12/2001 10:16 AM Sara, sorry i didn't get back to you yesterday, I was out sick. I didn't notice anything attached, did u send a subsequent e-mail? -----Original Message----- From: Sara.Shackleton@enron.com [mailto:Sara.Shackleton@enron.com] Sent: Wednesday, April 11, 2001 4:01 PM To: YYaish@exchange.ml.com Cc: Tracy.Ngo@enron.com Subject: RE: ISDA Schedule/Paragraph 13 Importance: High Yair: Attached is my redline. Call me so that we can discuss the remaining issues, including: (1) Calculation Agent. We believe that the existing dispute mechanism is adequate. (2) Procedures for Entering into Transactions. There is no procedure for dual confirms. This is too confusing. (3) Transfer. We cannot agree to your assignment provision as it is too subjective. The other changes were not substantive. 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 "Yaish, Yair (OGC)" To: "'Sara.Shackleton@enron.com'" <Sara.Shackleton@enron.com< <YYaish@exchan cc: ge.ml.com< Subject: RE: ISDA Schedule/Paragraph 13 04/10/2001 07:46 AM Sara, any thoughts on my comments ISDA I sent out last week? -----Original Message----- From: Yaish, Yair (OGC) Sent: Thursday, April 05, 2001 6:19 PM To: 'Sara.Shackleton@enron.com' Subject: RE: ISDA Schedule/Paragraph 13 Sara, I have good news, I think we are very close to executing this baby. I am attahcing comments to the ISDA. They reflect comments by our outside cousel which highlight the differences between this contract and the side letter/ML ISDA. They are not much. I have also made some changes directly on their draft where I either concurred with Enron or needed to make some of my own changes. Pls review and let me know what you think. I will be leaving the office soon, so if we can wrap it up tomorrow that would be great (I'm out Monday for Passover). Yair Yaish Director and Senior Counsel Allegheny Energy Global Markets, LLC 212-236-7346 -----Original Message----- From: Sara.Shackleton@enron.com [mailto:Sara.Shackleton@enron.com] Sent: Friday, March 30, 2001 4:10 PM To: yyaish@exchange.ml.com Subject: ISDA Schedule/Paragraph 13 Yair: Attached is a blacklined (against the Enron North America Corp. draft of 3/15/01) Schedule and Paragraph 13 to the ISDA Credit Support Annex. I have tried to incorporate the essence of the March 19, 2001 "swap side letter agreement." Please call me to discuss as it would be nice to finalize by April 6. Thanks. (See attached file: 098a Blackline ctr (Allegheny Energy Supply).doc) 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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