IN: This is an email
Your Internet Banking accounts are now setup again for accessing. The login id is still your main acct. # with the password being reset to the last six (6) digits of your ssn# (this is the ssn# or tin# of the primary account holder). You will then be directed to a screen that asks for information such as: Name Address City, State Zip+4 Phone # E-Mail Address After entering this information and clicking submit, you will then be instructed to change your password to anything that you desire. Always remember that your password is case sensitive. One major change is the wording of your accounts names (they have changed to product types and not descriptions). You can change your account descriptions by clicking on the Nicknames button and entering your own account description. We are still working on getting the information to post again correctly (your old account information has been removed, and we hope to have this information converted shortly and back on-line), so you will notice that credits and debits do not show up in the appropriate columns. Transaction descriptions are correct and the balances information is correct as of our last day of processing (11/16/01). We appreciate your patience and continued support. Our goal is to be fully operational and all information corrected before the holiday season. Please make sure to record any suggestions (or problems) that you might have concerning our web site. Again, thanks for banking with State Bank & Trust and happy surfing. Sincerely,

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OUT: Internet Banking

IN: This is an email
Gerald I work for Karen Gruesen, and she is out today. She wanted me to ask you if you thought the LIG Invoice calculation looked correct. Thanks

What is the subject?

OUT: LIG Invoice

IN: This is an email
Jordan, in response to your questions concerning the issuance of letters of credit starting today, I think that the response needs to address two situations: the committed lc facilities [Chase and West LB] and the uncommitted facilities. Since the uncommitted facilities involve minimal representations, they are not typically an issue [although we still need to review each circumstance individually], and unless there is a specific representation to Enron Corp.'s audited financials for the period 97-00 being prepared in accordance with GAAP, we should be able to issue letters of credit from an uncommitted facility. However, sections 4.1(d) of each of the West LB Facility and the Chase Facility contain a representation that Enron Corp.'s financial statements were prepared in accordance with GAAP. This representation was false when made, and will always be false. Thus, there is an issue with an officer being able to make the representations and warranties necessary for an issuance of a letter of credit under one of these facilities [or for an extension of an existing letter of credit]. In order to utilize the committed facilities, it will be necessary to obtain an amendment or waiver of this representation, since simply adjusting the representation on an officer's certificate gives the agent a defense to issuance on the face of the certificate. [An amendment is preferable from Enron's perspective.] [Note that as we previously discussed, there is not an event of default under the facilities, since that provision has a materiality qualifier.]

What is the subject?

OUT:
Issuance of Letters of Credit