postbot/aeslc_kw huggingface dataset:
Subject: ADA Derivatives conference

Lynn Aven and I are in the process of finalizing a memo on the Argentina trip  and we will also have a separate list of "action points" for Mike G.  I am  not planning to do anything further with respect to Argentina per your  instructions (eg, there is an ADA conference in June and we have been asked  to provide a speaker; we have been asked to comment on the ADA local master  format; finalizine trader guidelines and termsheet format).
Also, I am not  planning to do anything further with respect to Brazil other than finalize  our financial trading matrix.
I have cancelled my trip to Sao Paulo at the  end of March and will table the "derivatives training" indefinitelly.
Subject: Financial Trading in Brazil

Greetings to you both!
It has been awhile since we last spoke.
I would like  to finalize the matrix which we have been discussing since the latter part of  1999.
Although we were awaiting new Central Bank regulations, I am beginning  to think that the Central Bank revisions will not impact the matrix except  with respect to transactions which may be entered into by entities that are  the subject of the Central Bank regulations.
Please let me know whether or  not you agree or can offer any suggestions.
Thanks and regards.
Sara
Subject: Brokerage account for the sale of Rhythms stock

We have been asked to assist in the setting up of an account with Morgan for  the sale of this stock (through John Greene) held in the name of "Enron  Communications Investments Corp.".
Restrictions (technically expired on  3/12/00) on the shares are in the process of being lifted by the transfer  agent.
Let me know if you need further information.
We are working with Mike  Deville and Gill Melman (ECI legal).
Thanks.
Sara
Subject: "Transaction Summary"

Attached is a sample "format" for summarizing swap group activity.
Please  add your own activities and feel free to edit the sample.
Suggestions are  welcome.
I'll edit responses in time  for our meeting next week.
Thanks.
Sara
Subject: Meeting in BA

Patricia:  I can't thank you enough for arranging the many meetings and  introductions for the Enron legal group.
Lynn and I are extremely grateful  as it made our lives much easier and our jobs much more productive.
As  always, I am impressed with the variety and number of individuals with whom  you are so well connected.
At the moment, we are trying to finalize an  internal memorandum addressing the breadth of the tax issues currently  affecting our business in Argentina.
I would appreciate your comment on the  following two items:  (1)  Can you cite the law that provides the exemption or modification (not  sure which it is) that "financial institutions" are taxed (Gross Receipts) on  the spread?
Is it possible to see a copy?
(I can probably have it translated)  (2)  I am unclear as to how the Stamp Tax would be calculated with respect to  Argentine local parties to an ISDA Master Agreement (crossborder trades) or a  local master swap agreement (local trades).
Execution of the master  agreement itself does not evidence any transaction.
Even when any  transaction is executed, you are unable to determine net payments owed by  either party until termination of the deal.
Brent thinks that the tax will  be based on the product of the [Fixed Price  X volume X term] even though the  master agreement will merely provide for netting.
Can you verify?
Give my regards to Pablo.
I look forward to hearing from you.
Regards.
Sara
Subject: GA-Pacific

attached is redrafted language which can "stand alone" or we can also  incorporate the chart.
(Jared, I think you have some prior language we can  use, and we may have to rename one or two parts of the chart).
SS
Subject: your hedge funds

OK, I have reviewed Lawhill  and AIG Funds.
Marie is making changes and the  goal is to get blacklines of AIG to Rod today (since AIG has credit issues  only).
The issues revolve around the Collateral Threshold and Letters fo  Credit.
Lawhill will be ready for execution.
SS
Subject: Bridgeline Gas Marketing LLC

We have been asked to set this entity up for financial trading.
It's part of  our JV with Texaco.
Hal Bertram (X31865) is a good contact person if you  have questions about the Bridgeline companies.
Thanks.
Sara
Subject: house problem

I have to leave the office at 10:30 to be at my home.
I should be back after  lunch.
If you need to reach me, please feel free to call at (713) 664-3207.
Thanks.
Sara
Subject: ESA Legal Management Meeting's report

Can you please forward my report from last week and update the "week".
Also,  change target date of Argentina report to this Friday.
Thanks.
Sara
Subject: Marie's list

Attached is the list that Marie had prepared for me just last week (the date  at the top is incorrect) which is a good start.
We will still need a  detailed description of the brokerage agreement process.
Sara
Subject: Statex confirm language

Attached is revised language to drop in the confirm.
John:  Please approve.
Joe:  edit my margins AND does the preamble of the confirm use the word  "Agreement" to define the Master Agreement?
THIS IS NOT AN ISDA!
Subject: Marie's list

OK - forget the prior list I sent!
It really WAS from 1998.
Attached is a  real live current version which can be expanded.
Sara
Subject: Additional "Authorized Trader" for equity account

Sheila Glover has requested that David Vitrella be designated as a second  "Authorized Trader" for the Enron Communications Investments Corp. account  which was recently opened with Morgan (having as its purpose the sale of  Rhythms stock).
The rationale for a second trader is not new to us:  in John  Greene's absence, no one is authorized to trade in that account.
It is my  understanding that the only activity to occur in this account is the sale of  this particular stock which will be "dribbled in" periodically.
Please let  me know if you have any questions.
Both Donna and Sheila are very familiar  with this transaction.
Sara
Subject: Meeting in BA

Pablo:  I am forwarding this message that I send to Patricia last week.
She  may be out of town or otherwise engaged.
Would it be possible for you (or  someone else in the firm) to respond to my two questions?
I only need a  short explanation.
If you need to reach me, my telephone is (713) 853-5620  and my fax is (713) 646-3490.
Thank you for your assistance.
Regards.
Sara
Subject: Status of the Florida Power & Light Company ("FO&L") agreement

Hi, Serge.
I am just checking to see when Enron North America Corp. ("ENA")  will receive your comments to the ISDA Master Agreement for FP&L.
Paul Karns  mentioned that you would be devoting some time for review of the agreement.
Please let me know if I can be of any assistance.
You can reach me via email  or phone (713) 853-5620 if you have any questions.
I will be negotiating the  agreement on behalf of ENA.
Subject: Recording language

"Each party consents to the recording, at any time and from time to time, by  the other party of any and all communications between officers or employees  of the parties, and waives any further notice of such recording.
Additionally, in the absence of a Confirmation executed by both parties, any  such recording may be submitted in evidence to any court or in any  proceedings for the purpose of establishing any matters pertinent to the  terms of a Transaction."
Marty:  This would appear in Part 5(f) of the Schedule.
Let me know if this  is acceptable.
I'll follow up with Tanya on Monday.
Subject: Sample ISDA Schedule

Please excuse the delay but I was hoping to deliver all of my information to  you at once.
I am attaching our latest generic Schedule format.
You will  see our "No Reliance" and "Limitation of Liability" provisions included.
None of our confirmation templates contain non-reliance provisions (unless it  is specifically added by an attorney for a particular Transaction).
Unfortunately, I  do not yet have an answer as to the existence of written  guidelines or policy addressing the provision of  quotes to customers.
I  will follow up when I have the response.
Please let me know if you need more information or if we need to conference.
Regards.
Sara
Subject: financial trading by Don Black

As we all know, the TBS/Enron South America LLC ("ESA") confirmation issue is  draining our little brains.
Let's all conference sometime Monday to sort  through how these trades should be documented, booked and otherwise handled.
Lynn has suggested that ESA is merely a holding company and therefore, an  inappropriate vehicle for holding trades (maybe one or two trades is O.K.).
Also, any ESA documents must be executed in the U.S.  Brent:  please leave me a voice or email for convenient times.
Sara
Subject: The Dial Corporation

I spoke with Chris Littlefield (legal) a few moments ago and he would like  for you to call Dial's treasury person, Dave Riddiford.
Dial really wants an  explanation of how/why all numbers were selected for inclusion in the  Schedule and CSA, including:  (1)  3rd p. D/F Threshold Amount (2) whether Credit Event Upon Merger can be tied to ratings downgrade (I  explained the MAC trigger) (3) Collateral Threshold  (and, by the way, Chris says that he never  understood that Dial would ever have to post) (4) Min.
Transfer/Rounding  Not too bad.
Call me if you have any questions.
From the legal perspective,  I have only to resolve recording and arbitration.
Thanks.
Sara
Subject: Hawaii Series

Deborah:  I understand that an EES asset is going into an asset trust for  Hawaii 125-0 and that ENE wants a back-to-back swap with EES.
Is EES the  swap counterparty?
Sara
Subject: Transaction Summary

Attached AS AN EXAMPLE ONLY is a "Transition Memo" which Marie prepared to  capture her current workload.
Could you please utilize that format and  prepare a summary of your current workload?
Mark, Carol and I would like to  receive your lists as soon as possible, but no later than Thursday evening.
Thanks.
Sara
Subject: Shari's transition from the swap group to power trading

Derek:  I just wanted to let you know that I will be available to help you on  swap matters now that Shari has transitioned to another group.
You can  always reach me at Ext.
35620.
Please let me hear from you.
Sara
Subject: credit default transactions

Paul:  Did you learn anything further about the credit protection referencing  Deutsche Telecom bonds?
Also, Shari does not know anything about a JV with Deutsche Telecom.
Did I  misunderstand you?
Please let me know what you find out.
Thanks.
Sara
Subject: Marie's transition

Attached is revised summary.
Also, I have asked Susan B. and Susan F. to  prepare a list similar to Marie's list for delivery by the end of the day  Thursday.
Sara
Subject: MediaNews

Attached is the language which should replace (i) in the Additional  Provisions.
Also, in your part (ii) [now part (iii)], the words "Fixed  Price" should be capitalized each time used.
Also, you should add the  following sentence to numbered paragraph "1" on the first page:  "Capitalized  terms used but not otherwise defined herein shall have the meanings assigned  to said terms in the Agreement."
Subject: authorization for executing Enron South America LLC ("ESA") swaps

Hi Nancy!
I left a voice mail for you in Sao Paulo since Lynn told me you  were there.
We need to authorize someone in the US to execute swaps on  behalf of ESA.
Brent Hendry (after speaking with Jana Morse) thought Martha  Stevens or Scott Mills would be good candidates (if not already authorized).
Please give me or Brent a call.
We're trying to get this done next week since  TBS executed a swap in January, 2000 and we are still trying to confirm.
Also, let's have lunch.
Sara
Subject: Sutton Bridge swaps

Hi, Trena!
I am working again with Gary's desk now that Shari has moved on  to power trading (legal).
My first task has been to reconcile the  outstanding Sutton Bridge transactions.
I find three:  (1)  Currency Swap between ECT and Sutton Bridge Financing Ltd:  booked  5/22/97 [ 12/31/97 through 6/30/22]  (2)  Currency Swap between ECT and Sutton Bridge Power booked 1/28/97 [  through 4/29/11]  (3)  Currency Swap between "ECT" and "Sutton Bridge" booked 3/29/00 [ through  3/31/03].
I have only seen the ticket and not the confirm.
I understand that all swap transactions are to be terminated with the pending  Sutton Bridge sale.
Are you terminating these three (3) trades?
Are there  others?
What is the third trade which was booked last week (I don't know  anything about it)?
Someone should be documenting the termination and  payout.
Please let me know ASAP as the lawyers are headed to San Antonio  tomorrow.
Thanks.
Sara (X35620)
Subject: ISDA requests and assorted items

(1)  Commonwealth Bank (in Australia)    (2)  EPM ECHO Ltd.  Also, I need to have your respose to Statoil which I left on your voice mail.
And, further, are you looking into Deutsche Bank?
I'll be checking voice mail while I'm in San Antonio.
I gave the credit  group in Houston Thursday and Friday off.
Sara
Subject: Cargill Inc.

Susan:  Could you please create a blackline and fax to Cargill.
Marie  already made most of the changes.
Thanks.
Sara ps - file is on your chair
Subject: Statoil Marketing & Trading (US) Inc. ("Statoil")

Just a heads up!
ENA has finalized our Master Swap Agreement with Statoil.
You may recall that Statoil would now like to execute an agreement with  ECTRIC using the ENA agreement as a model.
I have been dealing with the  Statoil inhouse lawyer whose name is Chuck O'Brien.
Regards.
Sara
Subject: Year and Quarter End Deals

As you may know, Project Ghost was unwound eff.
3/31/00.
I believe that  Project MacArthur was also unwound.
(but I haven't seen anything).
Also,  Project Blackbird is in the process of being unwound.
Each will have a Swap  Termination Agreement.
Brenda Funk should be organizing closing docs.
Please make necessary entries on Lotus Notes and keep supporting  documentation in the files.
I don't see Projects Ghost, Spector or Hawaii on  Lotus Notes (these show up on your status of files list to Mark.
Thanks and  let me know if you have any questions.
Sara
Subject: Kellogg

David:  Attached is an example of the "tainted swaption".
I'd really like to  focus on the dates (Trade, Effective, Exercise).
Looking forward to call in  the morning.
Sara
Subject: Brokerage and Repo Agreements

Marie:  I would like to schedule a meeting with you and others to review the  agreement process, your contacts, account information, record retention  (physical files and Lotus Notes), reporting procedures, any forms which you  have developed and helpful tips.
I know that you are working on a memo which  will address this information and it would be extremely helpful if we could  learn from your experience.
I would also like to discuss Ted Murphy's  expectations.
I think this will take about an hour.
Please give me a  suggested time during the week.
Thanks.
Sara
Subject: Lotus Notes

I am hoping to have Lotus Notes available to you in about two weeks.
The  initial view will include Master Swap Agreements and I am working on "Other  Agreements" which will include brokerage and repos.
On a slightly different  note, do you think we should schedule a regular [weekly] meeting to review  work in progress, issues, products, etc.?
If so, who should be included?
Thanks.
Sara
Subject: Revised Memorandum regarding pulp and paper transactions

Attached is the latest Cadwalader draft memo addressing additional risks  posed by newer, illiquid products (specifically paper and pulp) and  minimization of the risks.
My goal is for  the paper and pulp group to adopt  the recommendations.
Please take a look at the memo and give me your  comments.
I would like to respond to Cadwalader by the middle of next week.
Please let me know if you have any questions.
Thanks.
Sara
Subject: Confirm/Settlements luncheon

Bob:  I left you a voice mail last week about a lunch that legal would like  to present next month for both groups (above).
We need a list of settlements  persons who should be invited.
The purpose of the meeting is to provide an  overview of the legal documentation process, including explanations of our  documents, and encourage dialogue among the groups.
Please send as soon as  possible.
Also, let me know if you have any particular topics which you  would like to see addressed.
Thanks.
Sara
Subject: Sutton Bridge FX deals

Please ADVISE if "European Power Holdings" is the correct legal entity for  closing out the FX piece of Sutton Bridge and if Maroon Aboudy is the party  to whom a confirm should be directed.
Thanks.
SS
Subject: Confirmation/Settlements lunch

Jeff:  Per my voice mail, please let me know if Friday, May 12 is an  acceptable date for your group.
This works fine for Settlements.
Thanks.
Sara
Subject: Review of Brokerage Agreements

Marie is updating her list and preparing a general memorandum in connection  with the brokerage and futures agreements.
I have the following times  available to meet (and I think we should schedule about an hour):  Thursday between 1:30 and 3:15 Friday   after 10 am  Please let me know as soon as possible of your preference and I'll try to  accommodate everyone.
Thanks.
Sara
Subject: legal opinion

Mark:  I left you voice mail last week regarding a due authorization opinion  from ENA to Statoil (for execution of a master).
Will you or Haedicke sign?
Also, who signs an enforceability opinion (under either NY or Texas law)?
Thanks.
Sara
Subject: Morgan Stanley Capital Group Inc. ("Morgan")

Tanya:  the Morgan lawyer called about putting ISDA Master Agreements in  place with the following Enron entities:  Enron Canada Corp. Enron Capital & Trade Resources Ltd. (trading UK nat gas) Enron Liquid Fuels Inc.   (trading propane)  She indicated that guaranties were all about to expire in June.
All of Morgan's commodity business is being centralized in the above Morgan  entity.
Please let me know how you are going to handle this in case Beth Ng calls me  back.
Thanks.
Sara
Subject: Australian Master and Brokerage agreements

Mark:  I know that David Minns has been sending copies of executed agreements  to Alan.
These include ISDA Master Agreements and brokerage (futures)  agreements executed in the name of Enron Australia Finance Pty.
Ltd.  We need  to incorporate these agreements into Lotus Notes and David Minns needs to  have access to our database.
Do you want to speak with Alan or should I?
Also, on a related issue, do we need to keep copies of the ECTRIC Master  Agreements in Houston?
Would this be necessary in an emergency situation?
Thanks.
Sara
Subject: Brokerage stuff

Do you have the short information sheet/request that you threw together for  Enron company requests for brokerage agreements?
This would be helpful when  we meet.
I am shooting for Friday at 10 am.
Thanks.
Sara
Subject: Credit Derivatives

Paul:  Enjoyed your talk in San Antonio.
Now for the real issues:  could you  send to me the confirmation templates that you have devised for credit  derivatives in the UK?
Also, are there any other materials which might be  helpful in the credit derivatives area?
Shari has passed this on to me and  I'm reviewing a couple of Deutsche Bank transactions executed last month.
Thanks.
Sara
Subject: physical option - proposals, term sheets, pricing

Mark:  How should we handle this?
In the past, I have provided Andrea  Bertone with Elizabeth Sager's latest (and evolving) physical trading forms  which Tozzini has used as a starting point.
Sara
Subject: Westpac Banking Corporation

Hi, Shane.
Here's a quick update.
As you can see, the Westpac ISDA is a  done deal.
Susan Bailey (paralegal) had been holding the Commonwealth ISDA  because she didn't have an address.
I asked her to email you for the info.
I am working on ABN AMRO.
I' m also trying to keep up with you other trading  activity.
Let me know if you ever have any questions.
Sara
Subject: ISDA documents

We need to finalize.
Legal opinion needs to come from Mark Haedicke (my  recollection is that he may not need the back up).
Have we requested the  guaranty?
Thanks.
Sara
Subject: Southern Ute Indian Tribe d/b/a Red Willow Production Company

I have engaged the Modrall firm in Albuquerque to help us sort through the  legal issues posed by dealing with the Southern Utes both on and off line.
The lawyers are Messrs. Lynn Slade and Bill Scott.
I would like to send a  Fed Ex to them on Friday, April 21 for Monday morning delivery containing the  following:  1.
ISDA Master Agreement and CSA boilerplate 2.
Our municipal form of Schedule for the Southern Utes and appropriate  Paragraph 13 3.
A sample Schedule prepared for a general corporate (with appropriate  disclaimer language) 4.
A copy of the 1993 Commodity Definitions and the 2000 Supplement  You will have to verify the current firm name.
Check the website at  www.modrall.com.
Send to the attention of Bill Scott.
The address:  500 4th Street NW, Suite 1000 Albuquerque, New Mexico  87102
Subject: Cargill, Incorporated

Tanya:  I left you a voice mail earlier this week on the single outstanding  issue:  paragraph (B) of our setoff language.
This provision allows the  nondefaulting party to withhold any payment it might owe to the defaulting  party under the master until the nondefaulting party can be certain IN ITS  REASONABLE DISCRETION  that ANY other payments owed to it (under ANY other  agreements between the parties)  by the defaulting party have been paid.
Cargill does not want to "comingle" its business.
Remember, we have already  given in on "affiliate setoff".
[the lawyer never raised the paragraph (B)  issue until this week!]
Also, Cargill has requested that we change our Credit Support Amount  definition (but I provided them with an explanation) AND Cargill has decided  to issue transferable L/C's.
Please let me hear from you so that we can finalize.
I do not know if this  is a deal breaker.
Subject: Flying J

Carol:  I spoke with Richard Peterson (retail side).
Apparently we were  dealing with the exploration side of the company last year.
We agreed to (1)  mark up the Flying J form AND (2) reissue the Industrial Master that had been  negotiated last year (with our form changes).
John Scales (exploration side)  wouldn't agree to the MAC at the last minute.
Do you want to handle?
Just  let me know.
Sara
Subject: UG315

Please send the current DRAFT to the User's Guide to 1999 ISDA Credit  Derivatives Definitions to my attention.
I understand that these can be sent  to reply mail.
You can reach me by phone at 713/853-5620 if you have any  problems.
Thanks.
Sara Shackleton [Enron North America Corp.]
Subject: UG315

Is it possible to obtain a copy of the draft "User's Guide to 1999 ISDA  Credit Derivatives Definitions" today?
I would very much appreciate receipt  as soon as possible.
Enron is a member of ISDA.
Thanks again.
Sara  Shackleton
Subject: Goldman, Sachs & Co. "Cllient Access Agreement"

Harry Arora (e-commerce group) wants to take a look at Goldman's online  trading operation.
His motive is to explore/navigate the site during the  next 30 days (but not trade).
I told Harry that I would need to review the  agreement and negotiate with Goldman just as I would any agreement in order  to not set any precedent with Goldman for future agreements.
Although Harry  does not intend to trade at all, and we could terminate the agreement when he  is done, I suppose Gary may want to trade with Goldman online in the future.
We could negotiate another agreement at a later date.
Let me know if you would agree to accept Goldman's agreement "as is" for the  limited purpose of allowing Harry to navigate the site, with the intention of  terminating the agreement when he is done.
Although ENA would have a  password, access could be limited to Harry [and whomever he needs to  assist?].
Please let me know your decision.
Thanks.
Sara
Subject: J.P. Morgan ISDA

Jeff:  I have not heard a word from credit.
Who did you speak with?
Please  let me know and I will follow up.
Thanks.
Sara