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Enron Mail |
Phyllis:
Here is where I understand we are with the LOC provisions and the LC for. 1. No changes will be made to the LOC provisions. 2. In the form of LOC, i will delete the language in drawing condition 1 "the entire undrawn amount of the LOC" and put in "$___________." I will alos delete the automatic renewal language in the third paragraph such that it will read "This LOC shall expire _____ days from the date of issuance." Are we ready to finalize? If so, I will e-mail to you final forms of the docs. Carol St. Clair EB 3889 713-853-3989 (Phone) 713-646-3393 (Fax) carol.st.clair@enron.com ----- Forwarded by Carol St Clair/HOU/ECT on 05/25/2001 11:06 AM ----- Edward Sacks/ENRON@enronXgate 05/25/2001 08:50 AM To: Carol St Clair/HOU/ECT@ECT cc: Subject: FW: Select Energy EEI and ISDA LOC Formats Carol - I have reviewed the changes in both forms attached. In the LOC, I think that they are getting at the point to allow for partial drawings and requesting to reduce the auto renewal notice clause to 30 days from 90 days. Seems okay to me. The proposed changes in the Letter of Credit Provisions, please ignore. I have discussed this with them and they have come off it. Ed Sacks -----Original Message----- From: moonevw@selectenergy.com@ENRON [mailto:IMCEANOTES-moonevw+40selectenergy+2Ecom+40ENRON@ENRON.com] Sent: Friday, May 25, 2001 8:36 AM To: Sacks, Edward Cc: morisjr@selectenergy.com; lemelpe@NU.COM Subject: Select Energy EEI and ISDA LOC Formats Ed- We received an email from your attorney about the LOC format for the two contracts. Our legal counsel has reviewed the format and the provisions for the LOC and we have two proposed changes to the LOC format and one proposed change to the Letter of Credit Provisions. Please call me to discuss these issues. (See attached file: Enron LOC language EEI 052501.doc) (See attached file: Enron ISDA LOC Format 052501.doc) We would like to keep this process moving forward and finalize the contracts. Thanks for your assistance. Regards- Valerie Mooney - Enron LOC language EEI 052501.doc - Enron ISDA LOC Format 052501.doc
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