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I left you a voicemail yesterday about getting a master in place with Anadarko located here in Houston so they can trade Brent Crude and IPE lookalikes on EnronOnline under a master instead of a GTC.
We have an ISDA in place with Anadarko, but since ECTRIC is the counterparty online for those products, the trades wouldn't go under the ENA master.
The trader is pestering me about this.
What I would like to do is handle getting this ISDA in place with ECTRIC here in Houston, if that's OK with you, just mirroring the US master (except getting a Multicurrency in place since we have a Local Currency in place with ENA).
Is that OK with you?
| Anadarko |
Attached are the referenced lists.
If the Credit Counterparty is "amended" I don't have any changes to what I've previously said about the counterparty unless I add "w/change" (which I didn't have any on these lists, so just keep the Legal approvals the same).
The only counterparty on the 12/22/99 list was a "read only" counterparty, so I didn't bother responding to that list.
For physical power, again, even 'tho I'm not saying it, "no" for European based physical power products.
| Counterparty Lists for 12/21/99 and 12/27/99 |
I know I'm a pest...but we've got another gov't agency that doesn't have its legal entity as part of the name.
This one is on the list of 2/21/01, and it is the Western Area Power Administration, a division of the Department of Energy, acting through it "CRSP" area (I'm not sure what that stands for, it's the Central something something area) (ID#71175).
This particular counterparty has come up before on EOL, acting through another area, the Upper Great Plains Area (ID#81177).
The way I had this counterparty approved for EOL (I thought!)
was: Western Area Power Administration-Upper Great Plains, a Division of the United States Department of Energy.
I don't know if we can go back and get this one fixed too, but it would sure make Legal happy if we did...
| Another Gov't Agency Name... |
Attached is the link that will give you view access to the Financial Trading Agreement Database.
View access is available to all Enron employees, so you can pass this link on to other members of your department or your dealmakers.
Link -->
| Trading Database Link |
Well, I got your new website added as a shortcut in my mail directory, so now I can bother you at will!
Watch what you pray for, you just might get it!
We had a rather uninspiring flight back from New York, Craig watched "Inspector Gadget" on the inflight movie(he said it was really bad) and Danelia read the Bible the whole way.
The only good news is we arrive 1/2 hour early!
The weather was so warm in Houston that we had to turn the air on in the car.
It cooled off a bit today and we need sweaters.
When I got home I spent the rest of yesterday moving my plants back out of the garage where I moved them for the freeze that never arrived.
That's one thing I hate about Houston winters, you can never count on it staying cold so I have to keep moving the plants in and out.
After that, I aired out my house and vacuumed from the stinky kitty litter box.
Then I ordered in Chinese and read three days of newspapers.
Very relaxing!
Don't I have an exciting life?
Keep in touch...
| get fired up! |
We now have a computer set up so you can view the TradeSpark website.
It is located in a cubicle across from the C-1 conference room (on the side opposite of me, at EB3858D).
Since it has taken us so long to get access into this website, it is critical that each of you review your products descriptions of the website AS SOON AS POSSIBLE.
Can you each please confirm to me that you have completed your review and if you have any issues with the product descriptions please pass them on to Sheri Thomas with EnronOnline.
If for any reason you continue to have computer problems, please call Jason, our floor computer tech, ASAP.
Thanks for your prompt attention to this!
| Tradespark PC |
Below is the link to our Financial Trading Agreements Database.
This database reflects all the master swap agreements we have executed or out in draft form.
I just updated The Chase Bank to reflect the amendment for your re-hypothecation of securities.
Stephanie Panus, the paralegal that worked on this amendment, is having a copy walked down to you.
I thought you might find this database helpful to look up the status of documents in the future.
If you think other people in your group might find this database helpful, feel free to pass on the link to them.
Link -->
| Financial Trading Agreements Database |
Please remember that when adding a new counterparty whose name start with the word "The", the "The" should go out the end of the name in brackets.
An example is "Times Mirror Company (The)".
This will help our searching capability.
Thanks.
| Lotus Notes |
Attached is a clean and a blacklined draft of the BETA.
This draft was created using the new BETA form, and the blackline compares this draft against the form.
I have also attached a blackline from the intial draft we sent counterparty to the draft we are sending counterparty now, in case you want to show them all the changes from that draft.
That blackline is called prebon.red below.
| Revised Prebon BETA |
At the request of Bob Shults, I am enclosing revised drafts of the referenced documents.
1.
Clean copy of BETA incorporating all changes 2.
Blacklined draft of BETA reflecting changes made to the FORM of BETA since we sent you the original draft on 2/9/01 Tana - 3.
Blacklined draft of BETA reflecting changes made to the BETA Form to make it deal specific for Prebon 4.
Clean copy of Fee Agreement incorporating changes since 2/9/01 5.
Blacklined draft of Fee Agreement reflecting changes made to 2/9/01 draft
| Revised Drafts of BETA and Fee Agreement |
Sorry about that Edmund.
The forms have been moved out of the atty.fms bank into their own subdirectory called "Swap Forms" (look it up just like a person's named directory).
Let me know whether you can access that database from London.
We had London set up to review the atty.fms bank only, I don't know if you can access other subdirectories.
We have made some substantive revisions to the ISDA Schedule and Credit Support Annex, so you might want to take a look.
If you can't do a comparewrite from London, let me know and I'll email you the blacklined forms.
We've also made changes to the forms of guarantees.
They are now located in a document called Guaranty.doc in the Swap Forms/Current Forms directory.
Also, the ISDA definitions have been changed since you've been gone, you may already know that, but just in case...I thought I'd bring it up.
| ISDA Forms |
We have a master swap agreement in place with Energy West Incorporated, a CANADA corporation.
Your list shows "Inc." instead of "Incorporated", and that it is a US corporation.
Is this the same counterparty?
| Energy West Inc. |
Edmund Cooper just called and wanted to know what form changes we have made as a result of the new CFTC Rules.
I told him we just met on that yesterday, and as soon as we revised the form, we would send it to London.
Also, if there will be any changes in our advice to the traders resulting from this, please let him and he will disseminate the information to London Legal.
| CFTC Form Changes |
This counterparty came thru on 2/28/01 list.
I checked my database and we had them open for power sales only on the pre-approval list.
When I checked Profile Manager, it had them open for east & west power, transact on BOTH the bid and offer.
Do you still want them to do power sales only?
Both east & west?
| MidAmerican Energy Company |
This link should get you access to our Financial Trading, or "Master Swap Agreement" database.
This database lists all the master swap agreements we have in place or have drafted in the US, London, Singapore, Japan, South America, etc..
It is a very good resource to use when preparing confirmations.
This database is available to all Enron employees, so feel free to send this link to any London employees you think might find it helpful.
There are certain comments concerning the status of masters under negotiation that are only available to Legal and Credit employees because of legal-client confidentiality concerns.
Any member of your legal team should be able to look at those comments to determine if there is active/close negotiation on a master, or if a master is being amended, what the amendments might address (sometimes helpful when Houston isn't at work yet!).
Frequently there may be more than one master in place for an Enron company, so look at each entry to determine whether the master is limited to a specific finance project or product (unusual, but sometimes).
Also, as I mentioned, not all the US based masters are ISDA Multi-Currency Masters, so look to confirm what type of master we entered into.
If they are not ISDA Multi-Currency Masters, it may not be possible to put a cross-border trade under the master without some modification to the master or confirmation.
Please note: there is a listing for "Restrictions" which will reflect any trading limitations such as "crude oil trades only", "no trades over 2 years", contain special confirmation issues or list other types of trading limitations.
Restrictions should ALWAYS be looked at because they contain critical trading guidance.
Another note to watch out for is that many US based master may have Texas law instead of NY.
Certainly not UK law.
We hope to have that information available in the database in the future.
If for some reason you can't access this database, let me know and we'll get our respective computer people to figure out why.
As I mentioned, I am a paralegal in the Houston swap group and am happy to answer any questions about particular masters, so please do not hesitate to call me at x33399.
Link -->
| Financial Trading Agreement Database Link |
Attached is the referenced counterparty approval list.
Per earlier emails, no U.S. counterparty should be approved for european power until we hear otherwise.
Also, per my email yesterday, CMS Marketing, Services & Trading Company was already approved yesterday to do basis financial.
All other prior approvals for that counterparty should stay the same.
| Counterparty List for 12/28/99 |
The referenced counterparty is on the 3/1/01 list.
You've got them shut down for power, but Credit's notes are specifically opening them for power.
Should I open or shut down?
| Emerson Electric Co. |
Mercy, Since there are so many new Credit people that we (Legal) do not know, it would be very helpful if you could provide me with a new list of the Credit Team and their phone numbers.
The last list we have is dated 6/5/00.
Thanks!
| List of Credit Team |
Mark Taylor has asked me to prepare an NDA for the referenced counterparty.
Please let me know if we have any existing NDA's in place.
Thanks.
| NDA - WorldTradeX, Inc. |
The above counterparty has been created in the Financial Trading Agreements Database and is listed as a master swap agreement, and it's not.
It is an Electronic Trading Agreement and needs to be moved down to "Other Agreements".
Please let me know when that is done and I will delete the entry in the master swap agreement database.
Thanks!
| JP Morgan Securities Inc. (Electronic Order) |
Attached please find the referenced lists.
On the list of 3/12/01a, I have not yet seen the list from Gobal Contracts with the corrected names, but I cannot believe Lyke Corporation (also called Ripon Community Printers) is a valid legal name.
We might want to get that sorted out before we start trading with them.
| Clickpaper lists for 3/12/01 and 3/12/01a |
Attached is my proposed form of NDA.
I set up the choice in products similar to they way we did it in Prebon.
Take a look and let me know if it meets with your approval.
| LOI - RedMeteor |
At the request of Bob Shults, I am attaching our proposed form of Letter of Interest.
If the enclosed meets with your approval, please execute the agreement and return it to me via fax no.
(713) 646-3490.
I will then have it executed by Enron Net Works.
If you have any comments or questions please call Mark Greenberg, Senior Counsel, at (713) 345-8897 or Bob at (713) 853-0397.
We look forward to hearing from you.
| LOI - United Fuels International Inc. |
At the request of Bob Shults, I am attaching our proposed form of Letter of Interest.
This LOI has been revised to cover US crude, refined products and coal and emissions.
If the enclosed meets with your approval, please execute the agreement and return it to me via fax no.
(713) 646-3490.
I will then have it executed by Enron Net Works.
If you have any comments or questions please call Mark Greenberg, Senior Counsel, at (713) 345-8897 or Bob at (713) 853-0397.
| LOI - United Fuels International Inc. |
I have received the following originally executed documents from the referenced counterparty: 1.
EOL Customer Registration Form 2.
Password Application 3.
Amendment to ETA These copies will be walked down to you.
| Citizens Power Sales |
Taking a look at BPA from the 3/8/01 list, I noticed that we've got them opened up for west coast power only on the offer and not the bid.
I have no notes that they are restricted in that manner.
What's the scoop?
Marcus, do you see any reason they should be restricted to the offer side?
| Bonneville Power Administration |
Your access to the financial trading agreement database is approved.
The icon is attached below.
Why don't you take a look and see if you've got edit capability to the database.
Link -->
| Request Closed: Access Request for linda.sietzema@enron.com |
I just received a phone call from Paul Varana, outside counsel to the referenced counterparty.
His phone number is 713/752-4514.
He said that VEPCO wasn't happy with the form of GTC attached to the physical online power confirms and was going to be sending me a letter requesting certain revisions.
He said the letter would come from Francine Matthews at VEPCO.
I looked this counterparty up in my database, and it appears that we approved them to trade physical power with an override letter.
Usually, we don't allow any changes to the online GTC, but with physical power & the override letters, I know there is some wiggle room.
I don't know how you want to handle this, if you want to wait for the letter from VEPCO to come in and then deal with the issues, or head him off at the pass.
Just let me know.
| Virginia Electric & Power Company |
I am going to run w/holly at 7:00 on saturday and then meet her for breakfast at 8 at the IHOP.
Lucinda is going to join us for breakfast.
I thought maybe if it met w/your running schedule you might want to join us...
| breakfast saturday |
I've gotten some calls from the business people who want to trade with two counterparties right away.
One is Michigan Consolidated Gas Company, which is on the list for the 19th, and the other is Mobil Oil Corporation Supply & Distribution which is on the list of the 20th.
Can you please make sure the individuals in Global Contracts responsible for these counterparties update them today.
Our business people would be most appreciative!
| rush approvals - EOL |
At the request of Tom Gros, I am attaching our proposed form of Non-Disclosure Agreement.
If the enclosed meets with your approval, please execute the agreement and return it to me via fax no.
(713) 646-3490.
I will then have it executed by Enron.
If you have any comments or questions please call Mark Greenberg, Senior Counsel, at (713) 345-8897 or me at (713) 853-3399.
We look forward to hearing from you.
| NDA - Zefer Boston |
Do you know the progress of getting a physical power master in place with this counterparty?
Can you keep me apprised.
They are obviously a quasi-affiliate and we have internal people contacting me checking on their progress.
Thanks!
| The New Power Company |
We are trying to track down the signed documents for this counterparty.
Our notes reflect that Samantha Boyd sent them up to Peter for execution on 3/9/01 with instructions to send them back to Samantha Boyd when executed.
My understanding is that they were signed in Canada and returned to Samantha, but they have not yet shown up here.
If you sent them fedex and can track them via a tracking number can you see if you can find them.
They appear to have done some unauthorized trades w/o having the master signed and this has now become a really high priority.
Thanks!
| IMC Canada |
What do you think about Russell's request for a confirm here?
I think this is really confusing for our Canadian team.
There must be requirements for the LC if it's an upfront LC, we would need a zero threshold.
I just don't think this is very straight forward for these poor Candadian girls to figure out.
What do you think?
| Pending transactions, Casco qy6450.1 |
Linda & Sharon, My primary job responsibility is to online trading, and right now EnronOnline is quite a beast of a customer.
Because of that I please ask that you direct any future questions you may have with respect to confirmations to our two paralegals who handle the day to day trading, Susan Bailey at x34737 and Stephanie Panus at x53249.
With respect to the two current Canadian confirmations, Sara Shackleton, an attorney in our Group, is working with Credit to resolve the questions on the Slater Steel and Casco credit worksheets.
| Questions regarding Confirmations |
We have received the originally signed copy (via fax) of the Termination Agreement dated 3/15/01 with respect to EnronOnlineTransactions Nos.
10000172 and 1000173.
Copies will be distributed.
| Hess Energy Trading Company LLC |
We are closing to finalizing a Lotus Notes Database for us to keep track of approvals for online trading counterparties and any amendments to online trading documents.
Once the database is done, I (and you, I guess) will have to input the data for the Houston and London based Credit counterparties.
I am forward to you this early draft of the database for you to see what it looks like.
You will have to go into "create new counterparty" to see the format once you opened the database up.
We're still revising it to add a drop down for amendments to online trading documents, and then we're going to have a sort similar to the Pending Swap Update sort on Lotus Notes, that will show the Counterparty Name, Approved for Online Trading: Yes or No, and then follow with any amendments to the online agreements.
This will, obviously, help us keep track of if and why we've approved a counterparty, and also help us generate reports to the online trading team.
Access will currently be granted to the same people who have access to the Master Swap Agreement Database.
If you have any additional Credit Online People to add let me know.
We hope to have it ready within the week so we can start populating it with the information.
| online trading db |
Reggie just brought around a whole stack of confirms of pulp & paper deals that came into the fax area.
Is anyone looking for this stack of confirms?
If not, I'll have Reggie walk them down to Joe Hunter.
| Pulp & Paper Confirms |
Per conv.
a minute ago with Marcus, Christi Nicolay in the Regulatory Group just checked and Ontario Power Generation does not have a FERC marketing license.
That leaves them to buying US power only (both east & west OK).
Please make this change immediately.
Thanks!
| Ontario Power Generation |
At the request of Will Zamer, I am attaching our proposed form of Non-Disclosure Agreement for each of Morningstar Systems Inc. and Insource Technology Corporation.
If the enclosed meets with your approval, please execute each of the agreements and return them to me via fax no.
(713) 646-3490.
I will then have them executed by Enron.
If you have any comments or questions please call Mark Greenberg, Senior Counsel, at (713) 345-8897 or me at (713) 853-3399.
We look forward to hearing from you.
| NDA's - Morningstar Systems and Insource Technology |
At the request of Daniel Diamond, I am attaching our proposed form of Letter of Interest.
If the enclosed meets with your approval, please execute the agreement and return it to me via fax no.
(713) 646-3490.
I will then have it executed by Enron.
If you have any comments or questions, please call Mark Greenberg, Senior Counsel, at (713) 345-8897 or me at (713) 853-3399.
We look forward to hearing from you.
| LOI - Choice Energy Ltd. |
Be careful using IMC Canada to prepare your draft from.
Even though we have chosen NY law, we had two Canadian companies entering into the IMC Canada agreement so there is language in the agreement that is Canadian specific, and it might be missing some required US language.
I have also attached a redlined draft reflecting the negotiated changes to the form since the form we first sent the form to the counterparty.
I have attached our current form of ISDA Schedule as a reference.
The Canadian changes will be color coded, so you can see them easily.
Also, please note: there have been recent amendments to the CFTC Rules that have required certain changes to the swap reps, in particular there are no longer "eligible swap participants", the current terminology is "eligible contract participant".
Please see Part 5(b) of the Schedule in particular.
| IMC Canada |
I never heard back from you.
You were going to look at my list of approved jurisdictions and see if you disagreed with any of my information.
I'll be out the rest of the week, but maybe when I get back we can chat again on the phone, and maybe pull Edmund in, because before Edmund got sick, we were pretty much in agreement on how he was supposed to respond about Americas countries and how I should respond about European countries.
| EOL-Approved Jurisdictions |
I will be out from this afternoon through the rest of this week.
In my absence Stephanie Panus will be sending you the EOL Lists.
Please direct any responses you have to the lists to ME, not to Stephanie.
Thank you.
| EOL Lists |
At the request of Stephen Abbanat, I am attaching our proposed form of Non-Disclosure Agreement.
We would appreciate it if you could please verify whether "CMS Energy-Panhandle Pipe Line Companies" is the correct legal name of your company.
If you have any comments or questions, please call Mark Greenberg, Senior Counsel, at (713) 345-8897as I will be on vacation the rest of this week.
| NDA - CMS Energy - Panhandle Pipe Line Companies |
To summarize and in response to our meeting last week: 1.
I am attaching the list of Non-Disclosure Agreements I maintain for the Enron Net Works Team and my proposed form for the EnronOffline Team.
Please let me know if this form meets with your approval or if there are any changes you would like.
This list will be circulated to the Project Offline Team Wednesday afternoon.
Mark, could you please provide me a list of the people you would like the list circulated to.
2.
All future requests for NDAs for the EnronOffline Team should be directed to me instead of Kay Young.
The request for the NDA should be sent to me by email and include the legal name of the company, the contact at the company and the company's address.
In addition, each request for an NDA for EnronOffline should be clearly indicated as a Project Offline NDA (since I prepare many other NDAs for Enron Net Works).
At the request of the dealmaker, I usually send the NDAs directly to the counterparty by email, so an email address should be included.
If you would like the NDA sent some other way, please let me know (hard copy sent by mail or fedex, fax, etc.).
3.
I will work with Travis (or other ENA lawyers, as necessary ) to circulate and revise any comments from counterparties.
I will then circulate the NDAs for signature.
When fully executed, the originals will be filed with Kay Young.
Please note that copies of ALL Network agreements should also be filed with Lisa Lees (the original should always be filed with her, except Confidentiality Agreements, which get filed with Kay Young).
4.
Kay Young will review my list to determine if there are any NDAs that she has prepared that should be added to the list.
If I have missed anything or if you have any comments or questions please call me at x33399.
| Project Offline NDAs |
The referenced counterparty is on the list below for online approval to trade us gas financial products.
This counterparty came through before on the 1/20/00 list and we did not approve them for financial trading because of a "payment dispute".
Is anyone out there aware of the payment dispute with this counterparty, and has it been resolved?
Can we open this counterparty up to trade financial?
They are an ESP...
| PLEASE READ: Sonoco Products Company |
Bill, I think you are about to become my new best friend!
We have another long standing counterparty we cannot get approved on EnronOnline because we cannot get the counterparty set up in GCP.
The Counterparty sent in a Password Application styled: Koch Industries, Inc., acting through its Koch Hydrocarbon Company Division.
(Which also happens to be the same styling on the Master Swap Agreement we have in place with this Counterparty.)
They way I understand it, GCP has the two following Counterparties already set up: (1) Koch Industries, Inc., and (2) Koch Hydrocarbon Company Division.
The EnronOnline Team has been trained to never set up a company as a division, to always send the Password Application back to the Counterparty and try to get the Counerparty to resubmit the application with the legal incorporated name as part of the counterparty name, which they sucessfully did in this instance, but now we cannot get the counterparty set up in GCP.
Can you help us?!!
!
| Another Division Problem |
I'm trying to track down that presentation for you, I need the directory information.
As soon as I get it I'll have it emailed to you.
Hope you're staying out of trouble...
| Presentation |
At the request of Mark Greenberg, I am forwarding to you the proposed Non-Disclosure Agreement between Pricewaterhouse (for CreditDimensions) and Enron Credit Limited.
Mark Greenberg has spoken to the counterparty and made a few changes to Pricewaterhouse's form.
If you have any questions about the transaction, the business person on the deal is Kim Detiveaux here in Houston.
Otherwise, we would appreciate your assistance in getting Richard Sage in London to execute this agreement.
| NDA - PricewaterhouseCoopers LLP |
With respect to this new counterparty for EnronOnline (correct name to follow): Sam Schott advises us that we are limited to 90 characters for a counterparty name in GCP.
The correct legal name for this counterparty is longer than 90 characters.
I discussed this with Marcus Nettelton, our power lawyer, and if the following scenario meets with the approval of the financial and physical power Confirmation Desks we think the best way to treat this matter is to set the counterparty up in GCP as follows and then add this counterparty to the special handling list so all confirmations, physical and financial, offline and online, go out with the LEGAL NAME, not with the GCP NAME.
LEGAL NAME OF COUNTERPARTY: Alliant Energy Corporate Services, Inc., as authorized agent for and on behalf of IES Utilities Inc., Interstate Power Company, and Wisconsin Power and Light Company SUGGESTED NAME FOR GCP: Alliant Energy Corporate Services, Inc., as Agent for three listed utilities Joe and Kim, is this workable for the Confirm Desks?
If you can let me and Sam know then Sam can get them set us.
Thanks for your help!
| Alliant Energy Corporate Services, Inc., as Agent |
At the request of Daniel Diamond, I am attaching our proposed form of Letter of Interest If the enclosed meets with your approval, please execute the agreement and return it to me via fax no.
(713) 646-3490.
I will then have it executed by Enron.
If you have any comments or questions please call Mark Greenberg, Senior Counsel, at (713) 345-8897 or me at (713) 853-3399.
We look forward to hearing from you.
| LOI - TFS Energy LLC |
Upon consultation with various members of the Swap Group, I am having Taffy make dinner reservations for 7:00 pm at La Fogata in San Antonio for 14 people on Wednesday night.
This is not obligatory, so if you have other dinner plans, please do not feel under any pressure to join us, just let me know.
Of course, if any one comes up with a better place, I'm open to suggestions..., but at least we'll have something!
| Dinner Reservations in San Antonio |
As an FYI, from time to time I will be preparing NDAs for the Networks team headed by Mark S. Palmer working with Travis on "Project Offline".
Project Offline has evolved a form of NDA and added a non-solicitation clause and a residuals clause.
I wanted you to be familiar with the form in case Travis is not here, you,as are my backup lawyer for the Networks team.
The form, like all my Networks forms is kept in my "Confidentiality Agreements" subdirectory under "Forms" (in case you ever need it and I'm not around).
| Offline NDA Form |
Attached for your review is a list of the NDAs we either have executed or have sent drafts to the customer.
Please take time to review this list to make sure that the status of any NDA you are interested in is correctly reflected.
Call me at x33399 with any comments or questions.
| List of Net Works and EnronOnline NDAs |
Per the request of Lucy Ortiz, I have reviewed the current list of weather counterparties we are trading with, and have targeted four counterparties that we have open for trading weather offline that I am now going to open for online trading.
1.
El Paso Energy Marketing Marketing Company, name change as of 12/1/99 to El Paso Merchant Energy-Gas Company - previously approved for all products, except weather, now add approved for weather also.
Non-ISDA Master Agreement in place.
2.
Madison Gas and Electric Company - previously not approved for any financial products, now approving for all financial products.
No Master Agreement in place.
Credit, we need to pursue this financial master.
3.
Swiss Re Financial Products Corp. - we previously did not approve this counterparty for any financial trading - now open for weather financial trading only.
No Master Agreement currently in place; however, we are getting close on the negotiation of this ISDA Master.
4.
Vitol N.A.
- we previously had them approved for all products, but weather, open them up for weather, as well.
Non-ISDA Master Agreement in place.
Steve Douglas, counterparty is a Swiss corporation and have never sent us their tax forms.
| Weather counterparties |
We've picked up two more diners for La Fogata in San Antonio, Andrea Calo and Yao Apasu.
Can you call back the restaurant and switch our reservation to two tables of 8 people, instead of one table of 14.
I think a table of 8 will be more manageable than a table of 16.
Thanks!
| dinner reservations in san antonio |
As we discussed, attached is my "Cheat Sheet" which I use to guide me when approving non-US counterparties that come in through EnronOnline via Houston Credit.
London Legal and I try to coordinate our responses but I cannot speak for them and the standards they may apply to approving counterparties to trade online.
They also frequently deal with different countries than us.
You may want to speak to Justin Boyd.
Generally, with respect to most physical trading, except power trading, there are no legal restrictions to trading.
Most of the restrictions in this list are with respect to financial products.
Physical bandwidth has generally not done much legal due diligence outside of the US and the UK and bandwidth is therefore not open to non US and UK counterparties.
With physical power, generally, in most countries they require some sort of power marketing license so I look to the power lawyers to guide me.
As I also mentioned, for Japan or Australian based counterparties I wait for David Minns or Jane McBride to advise me.
| EOL Country Approval List |
At the request of Daniel Diamond, I am attaching a copy of the Letter of Interest revised to delete the sentence with respect to obtaining certain agreements with respect to Broker's customers.
If the enclosed meets with your approval, please sign the attached and return it to me via fax no.
(713) 853-3399 and I will have it executed by Enron.
If you have any comments or questions, please do not hesitate to call me at (713) 853-3399.
| Revised LOI - TFS Energy |
At the request of Kevin Montagne, I am attaching our proposed form of Non-Disclosure Agreement.
If the enclosed meets with your approval, please execute the agreement and return it to me via fax no.
(713) 646-3490.
I will then have it executed by Enron.
If you have any comments or questions please call Mark Greenberg, Senior Counsel, at (713) 345-8897 or me at (713) 853-3399.
We look forward to hearing from you.
| NDA - BEA Systems, Inc. |
At the request of Mark Palmer, I am attaching our proposed form of Non-Disclosure Agreement.
I have also attached a blacklined draft showing the changes from the iPlanet draft.
If the enclosed meets with your approval, please execute the agreement and return it to me via fax no.
(713) 646-3490.
I will then have it executed by Enron.
If you have any comments or questions please call Mark Greenberg, Senior Counsel, at (713) 345-8897 or me at (713) 853-3399.
We look forward to hearing from you.
| NDA - Sun Microsystems, Inc. |
We will need to catch a cab to get to La Fogata which is located at 2427 Vance Jackson Road in San Antonio.
Our dinner reservations are for 7:00 pm, so I suggest we all meet in the hotel lobby at 6:30 and catch group cabs together.
Dress is casual.
The phone number for the restaurant is 210-340-1337, in case you get lost in a wild cab ride or something similar (this will have special meaning to certain swap group members!).
If you haven't RSVP'd back to me, please do so, so I can get an accurate head count for tomorrow.
See you in San Antonio.
| Dinner Tomorrow in San Antonio |
We have received a faxed copy of the Amendment to the Electronic Trading Agreement between ENA and the referenced Counterparty dated January 11, 2000.
The original will follow by Fedex.
Copies will be distributed.
| Public Serivce Electric and Gas Company |
At the request of Dave Forster, I am attaching our proposed form of Non-Disclosure Agreement.
If the enclosed meets with your approval, please execute the agreement and return it to me via fax no.
(713) 646-3490.
I will then have it executed by Enron.
If you have any comments or questions please call Mark Greenberg, Senior Counsel, at (713) 345-8897 or me at (713) 853-3399.
We look forward to hearing from you.
| NDA - Royal Bank of Canada |
We have received an executed Master Agreement: Type of Contract: ISDA Master Agreement (Multicurrency-Cross Border) Effective Date: March 19, 2001 Enron Entity: Enron North America Corp. Counterparty: Allegheny Energy Supply Company, LLC Transactions Covered: Approved for all products with the exception of: Foreign Exchange Confirming Entity: Enron North America Corp. Governing Law: New York CONFIRMATIONS: There is a special form of confirmation that should be used for all online and offline transactions.
RESTRICTIONS: This is a TEMPORARY bridge master agreement until we can get a new ISDA Master Agreement in place.
In a side letter agreement dated 3/19/01, the parties have adopted the Merrill Lynch Capital Services, Inc. ISDA Master Agreement dated 12/02/92, in effect changing the names of the parties and certain credit terms.
| Allegheny Energy Supply Company, LLC |
At the request of Dan Diamond, I am attaching the revised Letter of Interest.
If the enclosed meets with your approval, please execute the agreement and return it to me via fax no.
(713) 646-3490.
I will then have it executed by Enron.
If you have any comments or questions please call Mark Greenberg, Senior Counsel, at (713) 345-8897 or me at (713) 853-3399.
We look forward to hearing from you.
| Revised LOI - TFS Energy LLC |
At the request of John Allario, I am attaching our proposed form of Non-Disclosure Agreement.
If the enclosed meets with your approval, please execute the agreement and return it to me via fax no.
(713) 646-3490.
I will then have it executed by Enron.
If you have any comments or questions please call Mark Greenberg, Senior Counsel, at (713) 345-8897 or me at (713) 853-3399.
We look forward to hearing from you.
| NDA - American Express Travel Related Services Company, Inc. |
I look forward to having you all as guests for an evening of Cajun cooking at my home on Saturday, May 19 at 7:00 pm.
Some of us (I won't name names!)
are hoping we might even have enough time to play a wicked game of African Uno!
Below is the list of the individuals attending the dinner at my home, and attached below are the recipes for the evening.
I will provide beer, wine and soft drinks.
In addition, I will make a big pot of white rice to go with the Red Beans & Rice, & Shrimp Etouffe.
Please let me know as soon as possible which recipe you would prefer to prepare.
Laura Johnson (1) Charles and Janice Thompson (2) John Hagood (1) Ann Hutson (1) Henry and Alicia Goodrow (2) Beryl and Ray Mack (2) Tana Jones (1) The directions to my house are as follows:
| May 19 Church Gourmet Cajun Dinner |
You should now have edit access for the financial trading database.
Please only edit those entries relating relating to ECTRIC.
Below is the icon which I hope should get you entry into the database (it's a shortcut, and I'm not sure it work in England, let me know and I'll stop sending it to people there if it doesn't!).
Link -->
| Request Closed: Access Request for karolina.asklund@enron.com |
Can you please put this counterparty in profile manager for me.
We had a really old ERMS Master that restricted the types of financial products they could trade under it, and I want to take a look and see what we've got them approved for.
They should be able to trade any financial products now.
Thanks!
| Aquila Risk Management Services Corp. |
As of this week EnronOnline has just started offering US/Canadian Dollar Swaps Online.
As part of my review in determining whether a counterparty can transact these products online I look at the Financial Trading Agreement Database to see if there are any restrictions indicated, check the master swap agreement, and I am also looking at any Board Resolutions we might have received when we got the master agreement executed.
What I am finding is that in the old days when we asked for resolutions evidencing the authority to enter into the master agreement/derivative transactions frequently the resolutions do not allow the counterparies to enter into currency transactions.
Since transacting these currency transactions with our energy customers is a new area of business for us I just wanted us all to be mindful to check these old resolutions and not to rely solely on the "Restrictions" contained in Lotus Notes.
| US/Canadian Currency Swaps Online |
I forwarded a guy down to Credit on 5/9/01 from the referenced counterparty who wanted to get an ISDA in place with us.
I told him he would have to speak to our Credit Dept.
first, and from the tone of his voicemail it doesn't sound like he's heard from anyone.
Can you make sure that someone calls him so he doesn't call me again.
His name is Greg Bass and his no.
is 619/696-3177.
Thanks.
| sempra energy solutions |
I bet Martin is going to have a different Company Code and Legal Cost Code than London.
His info in the computer also isn't complete.
Can you track that down for me.
Thanks!
| Martin Rosell |
I've got everyone's access submitted except Martin Rosell and Anna Reich and Oliver Harrison whose company codes and cost centers I will need.
Justin, Mark Illiott, Robert Quick and Paul Simons already had edit access into the database and does your assistant Nicola Beales who should be checking that when she approves counterparties for EnronOnline (although I don't think the UK agreement are currently up-to-date, although they need to be for EnronOnline, it will save her a lot of time).
I'm a little worried about your Credit people making changes.
When you approve Credit people, warn them that they are should not make any changes except to Credit comments.
Edmund will need to go in and add your Legal and Credit people to the Database Keywords as only he should have access to add Keywords.
You might want to get him started on that because you have a lot of people to add.
It's taken me quite a bit of time get all these approvals done!
| Lotus Notes Access |
On or about 5/2/01we opened the above counterparty to transact Canadian/US Currency Swaps on EnronOnline (which they cannot transact under the old Master Energy Price Swap Agreement, they would have to transact udner the GTC).
After discussing this counterparty w/Sara Shackleton, an attorney in the swap group, it appears that Sara has been talking to Morgan Stanley and Morgan Stanley does all its interest rate & currency business out of Morgan Stanley Capital Services, Inc. We can keep Morgan Stanley Capital Group open for currency swaps, but if they don't trade currency swaps out of that company we'll know why.
Sara is already working on an ISDA Master for Capital Services for Gary Hickerson's group.
| Morgan Stanley Capital Group Inc. |
I wanted to forward you directions to my house for dinner this Saturday.
Alicia left me a voicemail and also suggested you bring your friend Kimberly.
Please feel free to do so, the more, the merrier!
I hope you will be able to make it.
Everyone has responded yes, except John Hagood.
| May 19 Church Gourmet Cajun Dinner |
At the request of John Allario, I am attaching our proposed form of Non-Disclosure Agreement.
If the enclosed meets with your approval, please execute the agreement and return it to me via fax no.
(713) 646-3490.
I will then have it executed by Enron.
If you have any comments or questions please call Mark Greenberg, Senior Counsel, at (713) 345-8897 or me at (713) 853-3399.
We look forward to hearing from you.
| NDA - Ajilon LLC |
At the request of Bob Shults, I am attaching our proposed forms of Broker Electronic Transaction Agreement and Fee Agreement.
I understand from Bob Shults that we still need to define who the legal contracting party will be for APB Energy-Europe.
After you have had a chance to review the agreements, please call Mark Greenberg, Senior Counsel, at (713) 345-8897 or me at (713) 853-3399 with any questions or comments you might have.
We look forward to hearing from you.
| BETA & Fee Agreement - APB Energy-Europe |
At the request of Bob Shults, I am attaching our proposed form of Broker Electronic Transaction Agreement and Fee Agreement.
If the enclosed meets with your approval, please execute the agreements and return them to me via fax no.
(713) 646-3490.
I will then have them executed by Enron.
If you have any comments or questions please call Mark Greenberg, Senior Counsel, at (713) 345-8897 or me at (713) 853-3399.
We look forward to hearing from you.
| BETA & Fee Agreement - GFI Group, Inc. |
Attached please find the referenced list.
Some additional comments are as follows: 1.
City of Redding-no change from our previous approvals.
2.
Cajun Electric Power-no west coast power (caiso or firm).
It can only trade east coast power and Enron can only purchase from Cajun via EOL.
As usual, no European power until further notice.
| Counterparty Approval List for 1/14/00 |
At the request of Dan Diamond, I am attaching our proposed form of Broker Electronic Transaction Agreement and Fee Agreement.
If the enclosed meets with your approval, please execute the agreements and return them to me via fax no.
(713) 646-3490.
I will then have them executed by Enron.
If you have any comments or questions please call Mark Greenberg, Senior Counsel, at (713) 345-8897 or me at (713) 853-3399.
We look forward to hearing from you.
| BETA & Fee Agreement -TradeSpark, L.P. |
Justin, Per the email below, before we respond to Glencore we just wanted to make sure that you haven't made any agreements with Glencore with respect to choice of law for the online trades that would subject them to UK law.
I don't want to talk to them without checking with you first since this is one of the true counterparties that we are trading with on both sides of the Atlantic.
By the way, I heard you had some really good news.
I'm so happy for you!
| EOL Trades with Glencore Commodities Limited |
I don't know where we stand on reviewing the derivatives situation for the referenced counterparty, but Frank Davis with EOL just called and the counterparty is applying for a password, so he wanted to refresh his memory why we wouldn't open them up for derivatives trading.
I told him that we were just looking at their situation last week, and to give your name & # to the counterparty if they question why they can't trades derivatives.
It isn't clear to me that we're ready to change our opinion on them yet.
| San Diego Gas & Electric-EOL |
I told Paul Radous, the Credit guy that you had already said that these guys could not trade physical power because they do not have a power marketing license.
It perhaps might be possible for them to purchase US power only.
If they want to enter into power transactions he is going to need to get you a name and phone number of someone at Engage that you can talk to to get evidence of their power marketing license.
| Engage (2 Entities) Open for All US Phys Power |
Per our conversation, it appears that the two companies are going to merge in October?
Looking at Lotus Notes, I don't think we could pick two bigger dogs of masters to have in place.
I don't think we want either master to be the survivor master.
With Chase we have an old 1987 Interest Rate and Currency Exchange Agreement and with Morgan we have a Master Energy Price Swap Agreement.
Yuk, yuk.
If I had my druthers I say, LET'S START OVER.
I know it's far reaching, but maybe we could make it our goal to have this master replaced by October.
Do you think that's do-able?
Do we have a contact at Chase/Morgan we can start dealing with?
I'm going to add chase to the Legal/Credit list just as a tickler for us to get this thing rolling.
| Chase Manhattan/Morgan Guaranty Merger |
At the request of David Forster, I am attaching our proposed form of Non-Disclosure Agreement.
Could you please confirm that we have the correct name of the company.
If the enclosed meets with your approval, please execute the agreement and return it to me via fax no.
(713) 646-3490.
I will then have it executed by Enron.
If you have any comments or questions please call Mark Greenberg, Senior Counsel, at (713) 345-8897 or me at (713) 853-3399.
We look forward to hearing from you.
| NDA - TD Securities Inc. |
I have submitted the security requests to get the three of you access to the "Other Agreements" subdirectory of the Financial Agreement Database.
That approval usually takes about a day, as soon as it comes through I'll let you know.
You will of course, still need to solve how to get into the directory with Mike Neves.
Let me know when you can get in.
| lotus notes link |
At the request of Bob Shults, I am attaching our proposed form of Non-Disclosure Agreement.
If the enclosed meets with your approval, please execute the agreement and return it to me via fax no.
(713) 646-3490.
I will then have it executed by Enron.
If you have any comments or questions please call Mark Greenberg, Senior Counsel, at (713) 345-8897 or me at (713) 853-3399.
We look forward to hearing from you.
| NDA - Gulf South Pipeline Company, LLC |
A little forward movement trying to get the Global Counterparty not to set up counterparties under division or trade names.
If the counterparties insist on doing so, we have been trying to get them to add the legal name as part of the counterparty's name in GCP.
For non-swap team members, you may want to forward this email on to your groups as well.
| Counterparty Name Conventions |
At the request of Sara Shackleton, I am attaching my list of North America "utility" counterparties.
My given task when I compiled this list was to identify "utilities" and determine if there was a reason we should not approve online trading for the counterparty.
We originally denied approval for all utilities unless we had a Master Agreement in place or an overriding commercial reason to transact.
We are now taking the position that investor owned utilities (IOUs) and related corporate entities should be approved for trading.
However, we will not approve online trading for governmentals or cooperatives when we do not have a master in place, so those counterparties identified as such do not need to be included in your review.
Obviously, if you are aware of a municipal or cooperative I failed to detect, please let us know.
In addition, your review does not need to extend to the Canadian counterparties.
We will run those by Canadian counsel.
Please review the list to help us identify the IOUs.
You may ignore the "Approved for Trading" column.
For your information, the list was compiled from information provided from our Credit Department, from the Company's financial statements which I obtained from EDGAR, from the Company's web site, from www.utilityconnection.com, or from web searches of the Company when I could not locate information from any of the other sources.
Please give us a call tomorrow to discuss briefly.
| Utility Counterparty List |
We received a Notice from the NYMEX today that they have set March 2 as the date for power to go ex-pit.
I will send each of you a copy of the memo.
Copies are also being immediately hand delivered to Jim Fallon and Tim Belden.
| NYMEX ACCESS |
Attached for your approval is the form of Enron Corp. Guaranty in favor of the referenced Counterparty, which guarantees the obligations of ENA under an ISDA Master Agreement.
This Guaranty will supersede and replace the guaranty previously given to Counterparty (formerly known as Enserch Energy Services, Inc.) dated as of December 16, 1996.
We will need the standard executed copy.
In addition, we will need the following closing documents: Certificate of Incumbency.
Upon approval and execution, please call me at x33399 to pick up the documents.
Thank you for your assistance in this matter.
| TXU Energy Trading Company |
When you have a minute, I've been inputting data all week and have fixes/upgrades we need to the database.
In particular, the EOL people are about to introduce a new product any time time now, and I need that sort the shows "Approved, approved with limits, not approved" to work so I won't have to look at each of 1500 entries to determine what limits are in place.
When you arrive Monday can you let me know how long it will take you to have that sort working.
Then, maybe we can get together and discuss other changes we need to make.
Much thanks!
| EnronOnline Database |
San Diego has applied for a Password Application and wants to trade financial.
Per them, they have already been trading financial off-line with us, and I check with the Confirm Desk and that statement is true, Craig Breslau has done financial trades with them (I thought they weren't allowed to trade financial?!).
Anyway, can we now open them up to trade financial?
| San Diego Gas & Electric |
Do any of the other trading groups have any masters in place with Transammonia, Inc. or any of its divisions, such as Trammochem, Trammo Gas or TrammoGas & Petrochemicals?
Can you let me know ASAP.
Thanks!
| Transammonia, Inc. |
Attached is the referenced list.
Again, no european power products for US counterparties until further notice.
Also, Renaissance is an Amended approval, so I just wrote in the corner-amended-no change, since I have no change in the earlier approvals I told you.
| Counterparty Approval List for 1/21/00 |
We are going to open San Diego Gas & Electric to transact the following financial products, but are going to limit the length of the trades to 3 months or less.
The approved products per the Master Agreement are any "swap, cap, floor, collar or option...based on the prices of crude oil, petroleum products, natural gas, or electric power...".
I have previously not distributed the executed Master Agreement because of unresolved issues with the counterparty, but will send copies today to the usual distribution.
We have an executed Master Energy Price Swap Agreement in place between ECT and the counterparty dated as of February 25, 1997.
All financial trades for this counterparty should go under the master.
| EOL-San Diego Gas & Electric |
FINANCIAL: We have an ISDA Master in place, originally through Transammonia, Inc., acting through its division Trammochem.
That master has since been expanded to allow trading through additional divisions, Trammo Gas Division and Trammo Gas & Petrochemicals Division.
All trades and confirms can be done as follows: Transammonia, Inc. Transammonia, Inc. acting though its division Trammochem Transammonia Inc. acting through its Trammo Gas Division Transammonia Inc., acting through its Trammo Gas & Petrochemicals Division Obviously, Transammonia, Inc., the body corporate, needs to always be on the confirm.
PHYSICAL: My reports from the other Legal trading groups are that they have no contracts in place, although it is somewhat unclear on the physical gas side as to whether Global Contracts as to whether we have any physical gas master in place.
| Transammonia, Inc. |
Nella, Your message about the Canadian forms inspired me to visit with Mark.
We were in the middle of updating the Canadian forms, and Mark just gave me a few final changes, and as soon as I make those I'll email them up to you.
Actually we have two Canadian forms, the ISDA and the "Industrial".
| Canadian Forms |
Attached please find referenced list.
The only amended counterparty with a change was Murphy Exploration which was shut down for power.
I wonder, when we are working with amended counterparties, if there is some way that my prior approval could be on the recent spread sheet?
Right now I have to go find the old spread sheet to find out what I approved it for last time to see if I have any problem with the change.
So usually, unless I have - change next to amended, it means I had no change to what I said before.
Does that make sens?
| Counterparty Approval List for 1/28/00 |
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