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Enron Mail |
Russell:
Their attorney finally contacted me and we talked about the ESP rules. She is going to do further research in light of the fact that for regulatory purposes Utilicorp, the GP, cannot furnish a Guaranty. I alos mentioned to her that at the very least we would like to make Utilicorp a "Specified Entity" so that they would be part of the credit-related Events of Default in the ISDA Master. As a general rule, we recommend in circumstances where the counterparty is an LP and you are relying on the GP's credit, making the GP a "Specified Entity" so that for example their bankruptcy would trigger an Event of Default. Call me if you have any questions. carol
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