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Enron Mail |
John: Please have Caraustar call Paul Radous about the cross default issue.
Legal will wait to hear back from Paul after his discussion with your counterparty. 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 02/02/2001 10:25 AM ----- Paul Radous@ENRON 02/02/2001 10:09 AM To: Sara Shackleton/HOU/ECT@ECT cc: Subject: Re: Caraustar Industries, Inc. ("CP") ISDA Master Agreement We are ok with reciprocal website financials. Please have the counterparty call me to discuss the cross default threshold. We use a widely accepted standard in the industry, which is 2% of total debt, rounded. In fact, by this standard, Enron has set it's own threshold too low. From: Sara Shackleton@ECT on 02/02/2001 09:04 AM To: Paul Radous/Corp/Enron@ENRON cc: John Fortunato/NA/Enron@Enron, Stephanie Panus/NA/Enron@Enron Subject: Caraustar Industries, Inc. ("CP") ISDA Master Agreement Paul: John Fortunato has advised me that CP has only three (3) issues with the draft which we delivered in November, 2000. The credit issues are: (1) CP financials available online - we'll need their website address (2) CP Threshold for cross default is too low and wish a "higher number" but have not given John any indication of what they want Please let John and Stephanie know the outcome so that we can prepare executable docs. Thanks. P.S. The legal issue was governing law, Texas or NY. CP doesn't care but needs confirmation and possibly explanation. 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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