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Dennis & Michael: It looks like this is an EnronCredit.com matter. Could you please take care of this and coordinate with David Weekes or, in his absence, Gillian Johnson (in Houston). Thanks for your help! Mark
Confidentiality Agreement
Thanks for dealing with Tana on these issues. It is not entirely clear to me what you want the policy to be regarding which counterparties have access to Australian power products. You probably already know that the EnronOnline people want every counterparty everywhere in the world to have access to every product u...
EnronOnline access to Australian Power products
(h) Jurisdiction. Section 13(b) is hereby deleted in its entirety and=20 replaced with the following: (b) Jurisdiction. With respect to any suit, action, claim or proceeding=20 relating to this Agreement (=01&Proceedings=018), neither party (i) waives = any=20 objection which it may have at any time to the laying of ve...
jurisdiction
I haven't seen any of the press reports (even though I am in London and I hear that's where they were) but I thought this was a well drafted response. The only additional rumours I have heard indicate that the police may have been rough in their handling of demonstrators outside the fence at the plant construction s...
Human Rights Watch
We should probably start thinking about an agenda for this meeting if only so that we can determine appropriate attendees and get it on their calendars. Do you have anything in particular in mind? Were you thinking legal/regulatory/operations/business/marketing? Hope you're having a fun weekend!
October 2nd London Meeting
Hey guys - welcome home! At least I assume you're home by now. How was the trip? I heard a bit about the departure but with any luck it must have gotten better. Any hope you took digital pictures? I have already told Linda but I wanted you both to know how great I thought your wedding was. There is no doubt in my mi...
Welcome home!
Dear John: So sorry for the delay. I hope it hasn't caused too much inconvenience. I would have called to apologize in person but believe it or not I don't have your phone number! Here are my comments to the draft documents you sent: Part 1 (b) In our other derivatives trading, the cross default test applies to E...
Japanese ISDA Documents
I saw this article on the internet and just in case someone cancels and you= =20 need any last minute ideas... PLANNING CREATIVE LAW FIRM RETREATS By Daniel J. DiLucchio and Shannon Prown Over the years, retreats have been used for a number of purposes, including= =20 business planning, strategy development, consens...
Probably too late for this but....
Approved re: monitor. What is our policy on printers for lawyers? I know a number of people (including me) have them but I don't know how that happens.
"Thin" Computer Flat Screen
It's not looking good for getting back to you today on this - shaping up to be a very bad day and we need to coordinate with Credit for their responses as well. I have a call in to John Suttle and have forwarded the revised draft to him. We'll do what we can. I saw your reply to my previous note. On this one point: ...
IBJ
I've chartered in the BVI a number of times and it is a great place to take beginners. I only caught your post of yesterday so didn't see the earlier thread. I'm assuming you're picking up the boat in Road Town or nearby. The only problem with getting away from the dock by 12 or so is if the boat isn't quite ready....
BVI
I sent Amanda & Bill an e-mail a couple of weeks ago and here is Bill's reply. I sent him a fairly detailed note on how we usually schedule things and which were the best times of year, etc. I haven't heard anything from Amanda and was beginning to assume they were not really interested in a November trip. Have you...
Sailing
I've been to Argentina - what can I tell you about it? We need to get sailing soon! Ever get to Houston? I have a boat here but don't sail too much - just working too hard. Hope you're well!
Hey Greg
I have read about the Super Maramu 2000 and note from your website that you have a location on the Mediterranean in France. I will be in Southern France September 23 through 25. Would it be possible to visit you in Hyeres during that time? Is an appointment necessary? Mark Taylor 1322 Rutland Street Houston, Texas ...
Visit in Hyeres
Your new offices will be ready in a week or so. We anticipate your moves will take place over the weekend of September 29. Joy Davis will coordinate your moves and can help with obtaining boxes, etc.
Office Moves
Marc - Bummer - this is the last message I'm sending and then I'm out the door for the airport. We're on our way to France - not back until 10/4. Mark
rsvp
Kathy: Please issue a guest user id to Bob Lawrence at Milbank Tweed Hadley & McCloy. Bob is a lawyer helping us with various EnronOnline matters including Broker Connect. His e-mail address is rlawrence@milbank.com. Thanks,
guest id
It looks to me like another case of an obvious error (i.e. the counterparty should have known it was a mistake). I'm afraid we've just been lucky that the numbers have been so far off - some day we're going to have one that is too close to call obvious.
Correction to PG&E Spread Trade
Please use the PEP system on your computer to suggest reviewers by the end of the day tomorrow at the latest. It is important that your reviewers have enough time to fill out the reviews and the system closes for that purpose at the end of next week. If you have any questions or are having trouble accessing the sys...
Year End Performance Reviews
Hello from Texas. It's probably been about six years since we last spoke but I thought I'd drop you a line to see how you were doing. I saw Pete Datos for brunch when I was in town a couple of years ago and he seemed to be fine but I have been very bad about staying in touch with people. Ted Bockius & I are still t...
Voice from the past.....
I decided I needed the book we discussed so I went online to Amazon.com and ordered it! While there I found references to a number of books I tought you might be interested in: the Hornblower series by C.S. Forester the Bolitho stories from Alexander Kent the Drinkwater series from Richard Woodman (e.g., "An Eye of ...
Maritime Novels
Peter: Here is our first attempt at EnronOnline Long Description language for the double transaction calendar spread product. We had to guess at several aspects. Please let me know if we got close. Mark
Double Transaction Calendar Spread Swap
Thanks so much for the Christmas present. Everyone is enjoying it very much. Bob Bruce's first reaction was "Wow -- I hope this isn't in lieu of
Merry Christmas!
Thanks for your notes. Just so you know, I have the Polo Sport perfume and a Victoria's Secret gift certificate for Emily. Were there lists for you and Dad? I can't seem to find them.
Christmas Lists
In case you haven't already looked at the Fee Agreement draft, here is a slightly revised version. Also attached is a revised BETA. The changes marked in the BETA are a combination of the commercial guy's comments and my revisions of those comments (hopefully marked separately). Unfortunately I didn't get the chang...
Broker Connect Agreements
Here is your conversation with my revisions marked (deletions struck through, insertions in bold). Hope this helps but feel free to call or write with any questions or comments: A: The CFTC regulates futures contracts and certain kinds of option contracts. SP: What's a futures contract? A: It is a contract for ...
Forwards vs. Futures
Marc, Here's a draft reply to your latest e-mail, which I would send to all those copied on your note to me. What do you think? Marc, We have sought, and paid for, advice from Indian counsel concerning commodity derivative transactions with Indian counterparites. We have had that advice updated and confirmed in co...
Reply to e-mail
In light of the rising frequency of human-grizzly bear conflicts, the Montana Department of Fish and Game is advising hikers, hunters, and fishermen to take extra precautions and keep alert of bears while in the field. We advise that outdoorsmen wear noisy little bells on their clothing, so as not to startle bears that...
Bear Alert
Dan - I left you a voice mail about this contract. Can you let me know who the best person would be to review one of these for Brent? Thanks,
translation
Marc, The game starts at 7:30. Why don't we stop by to pick you up at a little before 7:00. Let me know if this presents any problems. Mark
Rockets
Carolina, I have finally received my tickets. I will arrive at Ezeiza on United Airlines flight #761 on Sunday, March 14 at 11:15 a.m. Can you arrange to have a driver meet me at the airport? I will be staying at the Sheraton. Thank you very much for your help. Mark
Arrival in Buenos Aires
P.S. - If you do get in touch with Kartini, please send her my regards. I'm pretty sure she still likes me in spite of the way Skadden's relationship with her ended.
Kartini
Could you guys please get in touch with Andrea Bertone in Sao Paolo & send her copies of our forms that might be useful in coming up with appropriate documentation for this transaction. Sara - you should probably discuss with her the regulatory situation and make sure we can actually do this. Brent may have some in...
Brazilian Power Trading Contratcts
Scott: I have a call scheduled with Martin for tomorrow morning to discuss these CFTC issues. I'll let you know how it goes. I have also not forgotten your request for my view on Martin's tenure in Houston. I have mixed feelings that are difficult to put down in writing and I'm hoping we can take a few minutes in ...
CFTC issues in Norway
Hey Jeff: I just saw your email address on the Monmouth web site. I didn't realized you were at Mayer Brown. I don't even know if we've talked since I left New York (almost 5 years ago). I'm now in the legal department at Enron Capital & Trade Resources in Houston where my group is responsible for the legal issues...
Hello!
Torrey: I am the lawyer in ECT legal responsible for our relationship with the NYMEX and monitoring our compliance with NYMEX position limits. Phillipe Travis tells me you may be able to help him in preparing the reports of our positions with the option delta factored in. Thanks very much for your assistance. Mark...
NYMEX Positions
Suzanne: Please send an e-mail to all of the lawyers and paralegals in the ECT Legal Dept. asking them to reserve the conference dates and asking them to let you know their t-shirt sizes. Once you have everyone's t-shirt sizes, please give the list to Dan. Thanks,
e-mail to conference attendees
FYI: One of our legal consultants has mentioned that another of his clients is setting up an internet derivatives trading system. They are using an outfit called Intuitive Products International based in New York and London to assist with system design. Tana Jones (x33399) will be setting up a demo by these folks w...
Internet Trading Consultants
Cynthia: As you know, the Bankruptcy Code revisions never made it through the recent Congress. I understand they bogged down in the final days over issues which were essentially irrelevant to us in ECT. I'm not sure you are aware of the importance to our trading business of certain of the other proposed revisions....
Bankruptcy Code revisions
Just a thought: I'm assuming it will be too difficult to build in customized credit provisions on a counterparty by counterparty basis on-line - but if there are master agreements in place, the credit provisions contained in them would apply to on-line trades. The availability of the on-line system may therefore ...
On-line Trading
I currently have a 28800 modem but would like to get the fastest (within reason) modem we have available for a Compaq LTE 5280. Please let me know if this is the kind of thing I can get by Friday since I leave for London Friday afternoon and would like to take the computer (complete with modem) with me. If the new m...
Modem Order
We're home this weekend - might go sailing (you're welcome to come if you want) but nothing big planned. I'm in NYC next Wed - Sun., T's in a swim meet in Atlanta next weekend, NYC after that. Nothing planned for the 26/27 weekend & still toying with the idea of Seattle for the 4th.
Plans...
Here's a very rough draft of a set of slides we might use. Let me know if this is even close to what you have in mind. I can have one of our paralegals and our graphics dept. fill in whatever we need and make it look good tomorrow. Mark
ISDA workshop
Jeff: In preparation for his meetings with Commissioner Newsome and Congressman Stenholm, Mark H. has asked for information including a bullet point list of our key issues and any appropriate background material. I have prepared a draft issues list which is attached. Would you please take a quick look at it and s...
MEH Meetings with Newsome & Stenholm
Just a quick note to give you as much warning as possible. The next phase of the office construction project will begin in a little over a week. There is good news and bad news. First the bad: the office which you currently occupy will be in the next construction phase. Now the good: it looks like we will probably...
Construction Schedule - Office Moves
Enron Online Transactions . Any member of the Envera Network (an =01&Envera Network Member=018) who = is a=20 customer of EOL may submit to EGM an irrevocable offer to buy or sell any= =20 petrochemical, natural gas liquids, or plastics product that is then traded= =20 by EGM on EnronOnline, on the standard terms and c...
Section 8.2
I have a conflict with the Friday morning call this week. Any chance you will be covering it? I know you guys are busy this week.....
Friday ISDA call
Tana has pointed out that Net Works does not have a policy (at least not one we have heard of) regarding the handling of original contract documentation after it is executed. There is not an Enron-wide policy but instead a patch-work of policies created by the operating units. Tana and I would be happy to discuss t...
Net Works Documentation
The EnronOnline team has asked if we can discontinue sending copies of the GTC's when EnronOnline transactions are confirmed. They have suggested a sentence be added to the confirmation to the effect that it is subject to the GTC's which can be accessed on the website. Any thoughts?
EnronOnline Transaction Confirmations
As you are all aware, the legal department has grown significantly over the last several months. While so far we have been able to find places for everyone to sit, we have not added significantly to the available file cabinet space on the floor. In fact, a number of file cabinets are now in locations where they wil...
File Space
I spoke with Susan Bulgawicz again today. She relates the following points: Gensler has been subcontracted to do interior space planning and design for the new building generally While our work is probably in addition to that already agreed (and will therefore be billed to us) it should be covered by an amendment to...
Space Planning for the new building
They don't have the exclusive line (brand new) boat for our week but they do have this one. If you can get in the night before we can actually stay on the boat and leave early in the morning - effectively getting an extra day of sailing. If you want to check it out online, their website is www.moorings.com and the ...
Moorings quote
I have taken a stab at a Legal & Privacy Statement for the Broker version of EnronOnline. Please take a look and let me know what you think. Justin - I don't know if or when they expect to launch something like this in Europe but I expect it won't be long. Mark G. has been working on the Broker version of the ETA (...
Broker Legal & Privacy Statement
Just wanted to say hello. I hadn't heard from you lately and wondered how things were going. Have you moved out of the hotel yet? I know how depressing it can be going home to a hotel room every night. Even though the hotel where I lived for the first three months I was in Jakarta was very nice, it was still just a...
Hi Jim!
Marcus - I understand you are the new physical power online lawyer - lucky you! Here's one that the EOL people are anxious to get covered. I'd be happy to sit down and go over exactly what all this means and you'll probably want to talk to Tana a bit as well. Mark
EnronOnline - Power Spread Long Description
I will be on vacation from Monday the 19th through Monday the 26th (returning to the office on Tuesday the 27th). My cell phone and pager will not work either at sea or in the countries I will be visiting. I can be reached via Maritime Communications Network at (877)225-7447 - you will need to give my name and the ...
Vacation Memo
David - I haven't had a chance to look at this yet but thought I ought to send it on to you. I will be out of the office (vacation) until the 27th and didn't want to lose the entire week. Mark ps - I lost all of my voice mails the other day and I think there was one from you regarding a possible conflict - my und...
ETA Amendment
I have not yet done the performance reviews for several people in the group. They are due by the 28th. Please schedule 45 min. for me with each of Sara, Mary, Brent, Carol and Bob Bruce on Tuesday afternoon or Wednesday morning.
Performance Reviews
I found this on a sailing magazine web page: An acquaintance who is a professor of literature at Stanford brought Patrick O'Brian to my attention, claiming him to be the finest living author writing in the English language. Being an avid reader who had consumed about everything including, of course, all of Forster'...
O'Brian article
Bill - If Sam's description below of the GCP procedure is correct, it looks to me like something needs to be changed. The difficulty lies in the fact that the confirmation system reads the counterparty's name from Global Counterparty. Since divisions of companies are not legal entities they do not have the power to...
Urgent - Counterparty Divisions: Cargill Ferrous International
Ken - I have a question about the interpretation of this paragraph of the EnronOnline Legal & Privacy Statement. Maybe we can talk about it when we talk about the clearing issue. 14. In the course of your use of this website, you may provide, or Enron may otherwise obtain, information about you or your business ac...
Legal & Privacy Statement
We have reservations with Eric, the golf pro, on Friday afternoon at 3:00. He thinks 4 or 5 holes will takes us 1 1/2 to 2 hours. We don't have to play just holes 1 through 5 but can pick and choose -- based to some extent on
Reservations
You always make me laugh. Why don't you just pay for you. You've been footing the bill for Amanda & her friends all these years; it's your turn to take a break! By the way, I don't remember pointing out that she is spoiled - thinking it often enough, but not pointing it out. Of course we both know how my tongue loos...
spoiled? did I say spoiled?
From marshallconsultants.com SENIOR MEDIA RELATIONS PROFESSIONALS with the savvy to deal with varied and= =20 sensitive issues needed for the leading organization in one of North Americ= a=01, s top spectator sports.? Work will require heavy travel to sporting events= =20 across the country =01) in some cases as many ...
ad
As you already know, it's that time again. Since I am leaving on vacation Friday morning, please use the system to input your suggested reviewers no later than noon tomorrow (Thursday) so that I can approve them and get the process started before I leave. Sorry for the inconvenience. Mark
Performance Review Process
Ken Raisler will be here on Monday, May 21 to conduct several training sessions for the weather and steel trading desks. If you can work it into your schedule, please try and attend one or more of these sessions. Brent will have further scheduling details. Mark
Trader Training Sessions
Thanks for forwarding all the e-mails while I was out last week. I found this one in my in-box when I got back this morning. Is it yours?
Graham's leaving date
Julia sent me a copy of your memo following up on one of the questions asked at the session earlier this week. I would like to ask a follow-up question: Do we lose the benefit of the special treatment under the bankruptcy code when we enter into cross-product (i.e. physical and financial products) netting and joint...
Letters of Credit; Preference; Swap Transactions
I've got three undeveloped rolls of film in my car that I keep meaning to get developed but always forget until I'm not in the car. I'll get around to it one of these days. My address is: 1322 Rutland St. Houston, TX 77008 (713)863-7190
The Bitter End
It turns out that quite a bit has been happening without us so we may be inundated with information over the next day or so. Let me know if the message below does not come through in color since it will be difficult to decipher. Louise is quite anxious to finalize the ETA, PA and Read-only PA and I explained that w...
Registration Process Questions
From the NYT article: The business that Thomas D. Gros is building for Enron remains untested. But his entire career seems to have been aimed at the opportunity. He studied aerospace engineering, worked as an analyst for the Central Intelligence Agency, earned an M.B.A. and set up a natural-gas trading operation -- ...
Tom Gros
Paul: Since the recent pet coke swap (deal 8025) is really a US deal, we should probably do the documentation here. Would you please send me a copy of the confirm for the coal swap you worked on for us to use as a starting point? Thanks,
Coal Swap
Here are the most recent versions from Clifford Chance. They were sent to Sullivan & Cromwell yesterday to be "Americanized" and are still drafts with a number of open issues yet to be resolved - so we can easily make changes as necessary to solve issues you may raise. The PA = Password Application - to be signed by...
Online Trading Agreements
I will be handling the derivatives side of the ETOL transaction this time so future communications should probably come to me directly. I will be reviewing the ISDA draft this weekend and it would be helpful if I could get some sort of description of the overall transaction. Is there a term sheet or executive summa...
ETOL
I've gone back through the ISDA Credit Support Annex and the "green book" and my conclusion is that unless we modify the standard form, we have to give an Independent Amount back to the counterparty when we go out of the money far enough (note that the definition of Exposure results in a negative number when we are...
Independent Amounts
One day a cat dies of natural causes and goes to Heaven. There he meets the Lord himself. The Lord says to the cat, "You lived a good life and if there is anyway I can make your stay in Heaven more comfortable, please let Me know." The cat thinks for a moment and says, "Lord, all my life I have lived with a poor fam...
You can see it coming.....
I think this is the most recent version of the ETA. Obviously, this is the UK version and Sullivan & Cromwell are turning it into a US document. The US version will be governed by NY law and contain an arbitration clause. We're also trying to figure out how much to say about the confirmation process since it may va...
Revised documentation
Here is a revised version of my draft GTC's for derivatives transactions (I think marked from the draft I left with you). Any comments or suggestions? I've promised these to Louise by Friday. Thanks,
Derivatives GTC's
My apologies for any confusion resulting from my e-mail yesterday. While the GTC's must be finished this morning, Legal's revisions to the short and long descriptions are not due until Friday August 6. I think it would make sense for us all to get together to discuss how these work early next week. I will ask Taffy...
Online Trading Product Descriptions
Louise, I hope you had a pleasant weekend in N.O. If you have a few minutes to spare, I'd like to get together with you this afternoon to talk about the weather deal documentation. As I tried to draft up the standard GTC's I realized there are more variables in these transactions than are currently listed in the ...
Online Weather Transactions
'Twas The Night Before Christmas as written by a lawyer 'Twas the nocturnal segment of the diurnal period preceding the annual Yuletide celebration, and throughout our place of residence, kinetic activity was not in evidence among the possessors of this potential (party of the first part), including that species of...
night before christmas
Here is the spreadsheet which lists all of the existing counterparties proposed to receive access to the online trading system. Louise has asked us to identify for each counterparty those products from which, for legal reasons, such counterparty should be restricted. As you might expect, our goal is to have as few ...
Counterparties versus Product Type Matrix
I'm looking forward to seeing you Friday night. I'll bring along some sailing info. but thought I'd let you know now what we've got in mind. Dan & Jamie are lined up so if you guys are still interested there would be 6 of us. We have gotten a quote for a relatively new 46' sailboat in the British Virgin Islands for...
Friday/Sailing
Marcus: When we were in New Orleans I mentioned that I might be planning a holiday in Germany - well, I've finally gotten around to scheduling it. I'm flying into Munich on the 27th and leaving from Amsterdam September 9. If you are going to be in the office next Monday or Tuesday (when I'll be in the London offic...
Holiday in Germany
In order to complete the approved list of counterparties fo the new online trading system I need a list of master agreements you have negotiated that do not have all the necessary representations (e.g. trade option exemption) and definition references to permit trading energy commodity derivatives. Friday noon woul...
Restricted Mater Agreements
Hey Yao! How are you doing these days? We never see you anymore. I'm going over to London on Saturday - any chance you'll be in that part of the world? On a business note, we are getting set up to trade energy commodities and derivatives online and one of the things we have to do is figure out what we can trade with...
Restricted Master Agreements
Here is the North American legal issues list I prepared for Mark. He actually called me down to ask for it yesterday (my first day back no less). Obviously I've kept it to just the major areas where there might be residual legal risk. He seemed satisfied enough with the format. I explained that I had mentioned his r...
Legal Issues List for MEH
The Online Trading IT people have sent us a revised version of the long descriptions and a document spelling out the "rules" for how they are put together. Louise is asking for our final comments by close of business on next Wednesday (August 18th). Since I will be out of town then, please forward your comments and...
Product type long definitions - legal review
Joao - I'm making another business trip to Brazil - this time just to Sao Paolo. I'll be there Tuesday to Thursday of this week. Any chance you will be nearby? I tried to arrange a meeting in Rio too but unfortunately our office there is quite small and the only people I need to see will be in Sao Paolo then. I al...
Trip to Brazil
Mark - Would you be available to sit down with me Monday morning (say beginning at 10:30) to go over the spreadsheet? I have quite a few comments on the financial transaction items that I was able to understand and several questions on areas I haven't yet been able to decipher. I am particularly concerned about th...
Long Descriptions Spreadsheet
Could you please send Tana the list of countries from which online trading of derivatives with ECT is permissible. She is trying to complete the Counterparty spreadsheet for Louise. Thanks!
Approved Countries for Online Trading
Please note that Mark Dilworth's demonstration scheduled for tomorrow morning (11:00 EB2601a) will not be of the entire EnronOnline system but will focus on the portion of the system that builds the long descriptions. The system now builds the entire long description from the various elements - most of which we hav...
Wednesday Online Trading Meeting
Dave: One item that was left open after my meeting with Mark D. this morning was what the Index should look like and how much input we have had from the confirm desk. My inclination was that the index should be the same language that we currently use in the confirmation on the theory that the GTC taken together wi...
Long Descriptions - Indexes
Just a 'heads up' - there is now no doubt that there will need to be some major revisions to the index language. I am meeting with some of the folks from the confirm desks this afternoon to get them started on a further review. Can you please arrange to have the following people given access to the Product Manager:...
Online Indexes
Can you guys please send over a copy of the questions that were submitted to local counsel in Europe relating to the online trading project? Alan needs it for Australia and Louise has asked me to deal with Columbia. Thanks,
Local Counsel Questions
Here are several of the contracts we are planning to use for the online system. I wish I could tell you these are the final (or even the most recent) versions of the documents but things have changed so frequently that I'm afraid these may not be quite up to date. They do have the advantage of being in my directory...
Online Trading contracts
Here is my first cut at an Issues List for Wednesday. Let me know what you think. My meeting with Mark H. has been moved up to 1:00. He may want to get you on the phone then but I don't really know.
Oct. 6 Issues
We have not decided "to prevent any regulated utility from completing any financial transactions" online. If we have already satisfactorily concluded the necessary due diligence with respect to a particular utility, they will be approved. It is only with respect to those utilities which have not yet been researched...
Online Derivatives Trading with Regulated Utilities
How does the New Product Type Approval process work? We have received several test messages but it is not clear how we look beyond the short description in the e-mail to see the long description (can the short description be set up as a hyperlink to the web-site?) or how we are supposed to respond (my attempted rep...
Procedures for New Product Type Approval
I was glad to see that the next Monmouth meeting was rescheduled for a time other than December. I guess Monmouth is a little harder to get to than Chicago but it will be nice to see the campus again. I'm going to be in New York Nov. 1 & 2. Any chance of getting together? Mark
Good Morning!