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Enron Mail |
Melba,
The following changes need to be made to the attached GTC for this product: 1. Section 1: Delete subsection (iv) and revise subsection (iii) to read as follows: (iii) unless it has notified the other party in writing to the contrary, it is a domestic corporation (as such term is defined in Section 7701 of the United States Internal Revenue Code of 1986, as amended); 2. Section 2: Before the paragraph beginning " Each payment will be made...", the following paragraph should be inserted: All payments under this Transaction shall be made without any deduction or withholding for or on account of any Tax unless such deduction or withholding is required by any applicable law, as modified by the practice of any relevant governmental revenue authority, then in effect. If a party is so required to deduct or withhold, then that party ("X") shall (a) promptly notify the other party ("Y") of such requirement, (b) pay to the relevant authorities the full amount required to be deducted or withheld (including the full amount required to be deducted or withheld from any additional amount paid by X or Y under this paragraph) promptly upon the earlier of determining that such deduction or withholding is required or receiving notice that such amount has been assessed against Y, © promptly forward to Y an official receipt (or a certified copy), or other documentation reasonably acceptable to Y, evidencing such payment to such authorities, and (d) if such Tax is an Indemnifiable Tax, pay to Y, in addition to the payment to which Y is otherwise entitled under this Transaction, such additional amount as is necessary to ensure that the net amount actually received by Y (free and clear of Indemnifiable Taxes, whether assessed against X or Y) will equal the full amount Y would have received had no such deduction or withholding been required. However, X will not be required to pay any additional amount to Y to the extent that it would not be required to be paid but for (i) the failure or breach by Y of a representation or warranty set forth in Section 1 of these General Terms and Conditions or (ii) the failure of Y, upon reasonable demand by X, to provide any form, certificate or document that would allow X to make a payment to Y under this Transaction at a reduced rate of, or without any, withholding for or on account of any Tax. 3. Section 9: Add the following definition for Indemnifiable Tax: "Indemnifiable Tax" means any Tax other than a Tax that would not be imposed in respect of a payment under this Transaction but for a present or former connection between the jurisdiction of the government or taxation authority imposing such Tax and the recipient of such payment or a person related to such recipient (including, without limitation, a connection arising from such recipient or related person being or having been a citizen or resident of such jurisdiction, or being or having been organized, present or engaged in a trade or business in such jurisdiction, or having or having had a permanent establishment or fixed place of business in such jurisdiction, but excluding a connection arising solely from such recipient or related person having executed, delivered, performed its obligations or received a payment under, or enforced, this Transaction). 4. Section 9: Add the following definition for Tax: "Tax" means any present or future tax, levy, impost, duty, charge, assessment or fee of any nature (including interest, penalties and additions thereto) that is imposed by any government or other taxing authority in respect of any payment under this Transaction other than a stamp, registration, documentation or similar tax. Please let me know if you have any questions or need any additional information. Best regards, Susan -----Original Message----- From: Lozano, Melba Sent: Monday, June 04, 2001 6:09 PM To: Blumenthal, Jeff; Musch, Susan; Hagelmann, Bjorn; Moran, Tom Cc: Hunter, Larry Joe; Lees, Lisa; Sever, Stephanie; Jones, Tana; Lambert, Karen; Lombardi, Kelly; Sweitzer, Tara; Kenne, Dawn C.; Moorer, Torrey; Cass, Robert B.; Meredith, Kevin; Walker, Chris; Gockerman, Matthew F.; Alatorre, Carlos Subject: Tanker Freight Approvals Importance: High Your review and approval of the following product type in the EOL Datamanager is needed (for directions on approval , please see steps for approval at the bottom of this e-mail). If you have any questions please call me at ext. 58986. ******** DO NOT APPROVE PRODUCT TYPES BETWEEN THE HOURS OF 6AM - 11AM*********** Trader: Joe King << File: ENA Financial GTC (credit).htm << << File: Tkr Freight Swap BITR 9 Jun01 WS.doc << ============================================================================== STEPS FOR APPROVAL: click the START button select PROGRAMS select TEST APPLICATIONS select ENRONONLINE CLUSTER(PROD) PROCEED WITH USUAL LOGIN/PASSWORD click the Enron Online Production Cluster "START" button select EnronOnLine (this is the EOL Datamanager) PROCEED WITH EOL LOGIN/PASSWORD click on the "+" for EnronOnLine click on the "+" for Product Types click on the "+" for "Partially Approved" select the product requiring review as stated in e-mail above Right "mouse" click on "properties" to view product set-up
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