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Enron Mail |
The interest component was eliminated from the terms of this Transaction (as
was the switch from a price return swap to a total return swap and the name change). It seems that Ben and Scott S. had a subsequent conversation (after ours) and the agreed changes were communicated to me. SS Kevin Garland@ENRON COMMUNICATIONS 08/15/2000 01:20 PM To: Sara Shackleton/HOU/ECT@ECT@ENRON cc: Kevin Howard/Enron Communications@Enron Communications Subject: Re: Raptor: Talon/Harrier/EBS Investments, L.L.C. I did not see the interest calculation. KG Sara Shackleton@ECT 08/15/00 08:59 AM To: Kevin Howard/Enron Communications@Enron Communications, Kevin Garland/Enron Communications@Enron Communications, Kristina Mordaunt/Enron Communications@Enron Communications, James Ginty/Enron Communications@Enron Communications, AnnMarie Tiller/Corp/Enron@ENRON, Brent Vasconcellos/Corp/Enron@ENRON, Ryan Siurek/Corp/Enron@ENRON cc: Subject: Raptor: Talon/Harrier/EBS Investments, L.L.C. All: Attached are the following docs: (1) Talon I LLC/Harrier I LLC equity swap confirm (2) Harrier I LLC/EBS Investments, L.L.C. equity swap confirm (3) revised ISDA Master Agreement Schedule for Harrier I LLC and EBS Investments, L.L.C. Please review and provide me with your comments. I do not have all necessary address and account information. The swaps are subject to the ISDA 1996 Equity Derivatives Definitions. Section 7.4 (of those Definitions) contains the payment obligations and provides that the Equity Amount Payer pays a positive Equity Amount and "the other party" pays the absolute value of a negative Equity Amount. Also, I believe that Accounting Issue 00-19 is inapplicable to this Total Return Swap or else we may have issues with the "Extraordinary Events" elections. Sara
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