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Enron Mail |
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 06/01/2001 08:47 AM ----- =09Morris Richard Clark/ENRON@enronXgate =0905/31/2001 09:31 PM =09=09=20 =09=09 To: Carol St Clair/HOU/ECT@ECT =09=09 cc: Susan Musch/ENRON@enronXgate =09=09 Subject: FW: Steel Master Form Carol, I have forwarded our tax comments on the Master Steel Agreement. Please le= t=20 me know if you have any questions. Thanks. MRC -----Original Message----- From: Musch, Susan =20 Sent: Thursday, May 31, 2001 8:45 PM To: Clark, Morris Cc: Gockerman, Matthew F. Subject: RE: Steel Master Form Morris, My comments on the Master Steel Agreement are as follows: 1. Section 3.7 - The Taxes arising at the Delivery Point should be the=20 responsibility of the Buyer rather than Seller (i.e., Seller should be=20 responsible for all Taxes applicable to the Commodity being sold under the= =20 Master Agreement arising upstream of the Delivery Point and Buyer should be= =20 responsible for all Taxes applicable to the Commodity being sold under the= =20 Master Agreement arising at and downstream of the Delivery Point). 2. Section 3.7 - The phrase "within [___] days" should be added immediate= ly=20 before the comma in the sentence beginning "[i]f Buyer and Seller are unabl= e=20 to reach mutual agreement...." 3. Section 3.7 - The following sentence should be inserted before the=20 sentence beginning "If either party is exempt from Taxes...": Notwithstanding the foregoing, a Party is not liable for any applicable Tax= es=20 that are legally imposed on the other Party and that are refundable to the= =20 other Party, including without limitation value added or goods and services= =20 taxes. 4. Section 9 - The following sentence should be added to the definition o= f=20 Delivery Point: For purposes of transactions involving an Option on the Commodity, the=20 Delivery Point shall be defined to mean the date of delivery to the Buyer o= f=20 written confirmation of the purchase and sale of the Option, which date sha= ll=20 be in all cases not earlier than one day following the day of acceptance of= =20 the Counterparty=01,s offer. 5. Section 9 - The phrase "goods and services taxes," should be added to= =20 the definition of New Taxes immediately after the phrase "value added taxes= ,". 6. Section 9 - The words "value added, goods and services," should be add= ed=20 to the definition of Taxes immediately after the word "use,". Please let me know if you have any questions or need any additional=20 information. Best regards, Susan -----Original Message----- From: Clark, Morris =20 Sent: Wednesday, May 30, 2001 2:31 PM To: Musch, Susan Subject: FW: Steel Master Form Susan, Can you please take a look at the attached steel master agreement and=20 provide any additional language that you think is necessary (I imagine it= =20 should work similar to the paper and pulp master that we discussed). My=20 concern with the steel master is twofold: (i) it will be used for=20 international counterparties; and (ii) the treatment of options in many=20 foreign jurisdictions. Thanks for your help. MRC -----Original Message----- From: St Clair, Carol =20 Sent: Friday, May 25, 2001 3:08 PM To: Clark, Morris Cc: Murray, Julia Subject: Steel Master Form Morris: Could you please review and sign off on the tax language? Thanks. 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 03:07 PM ----- =09Carol St Clair 05/25/2001 02:52 PM =09 To: Julia Murray/HOU/ECT@ECT, H= arry M=20 Collins/HOU/ECT@ECT cc: Dan Lyons/HOU/ECT@ECT, Lou Stoler/HOU/ECT@ECT, Pet= er=20 del Vecchio/HOU/ECT@ECT, Deb Korkmas/HOU/ECT@ECT Subject: Steel Master For= m Julia and harry, Enclosed is a revised draft of the Steel Master Agreement for your review. = =20 Could you please forward this to Cheryl? Thanks. << File: STEEL WORKING DRAFT NO.4 5-25 RED.DOC << << File: Steel Working= =20 Draft No.4 5-25.doc <<=20 Carol St. Clair EB 3889 713-853-3989 (Phone) 713-646-3393 (Fax) carol.st.clair@enron.com
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