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When we get together to discuss stuff, maybe we can review this.
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It is difficult to get your comments over voice mail, as I'm just not that quick!
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Kay
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Karen, Could we have the option of using a letter of credit versus a corporate guaranty?
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(8)
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Matt, Since so much of this related to tax, I thought you should have a look at it.
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Rusty/Fred, I'm not sure of the context of the presentation of the information.
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Is this something which is going to the public, or to the governmental entity involved?
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If there is something which will be distributed to the public, then we should consider having Enron's PR group bless it.
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Kay
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Hmm.
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Hi Dan, One more thing I want to mention.
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As you know, Enron has a confidentiality agreement with a competitor of Fuel Cell (I believe it is ONSI).
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The agreement has an exclusivity arrangement, which prevents the other company from chasing certain transactions without Enron.
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Once we really know what we are going to do with FCE, will it be necessary/advisable to waive the exclusivity provision to avoid any restraint of trade arguments?
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FYI, When I last discussed the other company with Ozzie and Heather on Friday, they were planning on calling the other company to tell them the general status without violating confidentiality obligations to FCE or CRRA.
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I will follow up to get the details of the discussion.
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Kay
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You made me laugh.
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How about meeting in Sheila's office (3879) at 1030?
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Hi Stephanie, Thanks for the hard copy of the ISDA docs.
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Would it be possible to get an electronic version of what you gave me?
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Thanks again, Kay
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I received your voice mail regarding my comment about substituting the LOC.
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The reason for this suggestion is to provide flexibility in our financing structures, depending on which entities own equity in the LLC at the time of the posting of the security.
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Perhaps language such as "an appropriate payment security" or other similar language can be utilized.
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Please be assured that I have an understanding of the differences between an LOC and a corporate guaranty.
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The draft responses have been forwarded to the Enron tax department, due to the discussions concerning certain tax issues.
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I believe it is appropriate to get their approval of the language prior to these answers being released.
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Also, I don't believe I fully appreciate the context of these questions and answers, and how and to whom these answers will be given.
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A brief explanation would be most appreciated.
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Thank you, Kay
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Here's the latest info I have.
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Other than that Mrs. Lincoln...
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I thought it was an excellent synopsis.
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Has anyone given any thought to the creation of a new company to enter into the CRRA/Fuel Cell purchase/sale transactions?
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Any names to suggest?
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If Enron is going to be the contractor as contemplated by the PDA, I would expect to use a limited liablity company and not ENA.
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Please advise.
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Kay
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I can call you when I get out of my meeting, but it might be awhile.
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Or, it might be 600.
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Dunno.
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FYI.
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I'll bring you the ONSI confidentiality agreement.
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Got anything that looks like a confidentiality agreement with a company called ONSI?
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Should have been signed this spring.
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Thanks.
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Kay
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Hi Sarah, Thank you so much for your efforts to get this scheduled.
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However, it doesn't look today is going to work.
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Since spoke earlier this week, Michael has been accepted to private school, where we believe we will move him.
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However, we still haven't determined what to do about speech therapy, and would appreciate the benefit of your evaluation and expertise, especially since Michael is eligible to receive services at VO.
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Is it possible to schedule a meeting with that in mind?
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Thanks again, Kay
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FYI, and for us to discuss.
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Just a reminder that the Enron team is planning to meet a half hour before the call (330).
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Kay
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In connection with the attached, please note the highlighted language at the end of the document.
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We couldn't decide what it means, so it needs to be re-written or deleted.
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The party we are contracting with is Virginia Power, not NC Power.
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If we misstated this previously, we would like to clear it up now.
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Thank you, Kay Mann
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Karen, It appears to me that this version of the document allocates a new risk to Enron: risk of damage to a certain road during construction.
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It would seem that the responsibility to repair it should be limited to damage done as a result of the construction.
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Also, it is unclear as written as to whether we can repair it ourselves, or whether the City fixes it and sends us the bill.
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What is the intent?
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Thank you, Kay
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Here are my observations: I'm not certain that an Enron entity will provide a performance guaranty.
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I agree that the commercial deal is that a portion of the fee will be at risk for a performance problem.
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Is the reference to the "State" a reference to the DPUC or CRRA?
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As far as I know, the CRRA deal is still in the works, with nothing but a confidentiality agreement (with an exclusivity provision) signed, and in my opinion should not be presented as being a done deal.
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Kay
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I'm good anytime after 900 am on Monday.
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Kay
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Here's a marked version of suggested changes.
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Would it be preferable to be consistent with the use of the names VEPCO and Capacity and Energy Agreement?
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Kay
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Good afternoon, Our son Michael will be in your class beginning next Monday, October 2, so I wanted to introduce myself.
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I hope we will get to meet in person soon.
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Is there anything you would like to suggest that we do to make the transition easier?
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I picked up the package of information today, and will read it tonight.
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l won't ask any questions until I do my homework.
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I look forward to seeing you soon!
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Kay
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1.
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I haven't seen the paperwork on the name change.
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I asked around yesterday, and I have someone checking it out.
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Initially going through Corp (vs. ENA) made it a bit more complicated to track down.
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2.
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I believe I sent you a form services agreement to review.
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I think that the parameters for performing certain services can be captured by way of reference to a named guideline or procedure, or by attachment as an exhibit.
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I will resend the email for your easy reference.
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Hope this helps.
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Kay
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Hi Heather, Don't have the answers to your questions, but I wanted you to see the attachment to Gregg's email.
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It outlines some of the commercial aspects of the loan agreement, although it might not be in a form you can easily decipher.
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Kay
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So do we now have an Enovate/enovate?
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Thanks, Kay
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