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Enron Mail |
Jeff:
Just a few comments: 1. In the definition of termination Event, I think that the words "due to" need to be put after the word "means" in the first line. 2. In Section 3.4(a), I noticed that the bracketed langugae "as it relates to the Assigned Interest" has now been deleted. Pursuant to my earlier comment on this, what this maens to me is that with respect to the Fixed Payment piece of this, we can never terminate the swap based on something that happens to Pelican . Is that the way it is supposed to work? If so, plaese explain why. 3. With respect to the lnagugae in Section 3.6(a), instead of saying in the first sentence of such Section "the amount determined..." shouldn't it say "the fair market value of Party A's remaining payment obligations under the Transaction". Section 2(x) of the confirm just refers to Disputed Matters and it is not claer to me what is in dispute when an Event of Default or Termination Event occurs and what amount Party A has to pay when these events occur. What is the priocedure for coming up with this amount? Does each party calculate it and then send it to the experts or do the experts just determine it? Carol St. Clair EB 3892 713-853-3989 (Phone) 713-646-3393 (Fax) carol.st.clair@enron.com
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