Kevin, Attached please find an intial draft of a purchase and sale agreement for the MEGS pipeline (Project Pluto). The document is based on the form of the agreement that was used when we purchased the asset. For review purposes, I have also included a comparison version to show the differences between the agreements. There are several issues that we need to discuss. As a summary, these include: - In the purchase and sale agreement, you will note areas (e.g., the recitals, schedules and exhibits) where I have noted that further text remains to be drafted. In particular, we need to discuss those schedules that identify what documents and contracts we have disclosed to Duke, given that LJM at one point in time was the indirect beneficial owner of this asset through it's one time ownership of MEGS LLC (see Section 3.15 disclosure statement); - Sections 2.2, 3.10 and 11 require Jerry Seade's tax review; - Whether for credit purposes, we need some form of payment guaranty / commitment letter from the parent company of Duke Energy Field Services (see section 7.4(g)); - The assignment agreements that will be required for the Gathering, O&M and Guaranty Agreements. Per the terms of the Gathering and O&M Agreements, no counter-party consents are required; however, a consent will be necessary for the Guaranty Agreement. I would suggest that we try to meet later this afternoon to discuss this agreement (I am tied up until 1:30 or so.) Thanks. Comparison Version:
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answer: Asset Purchase and Sale Agreement for MEGS Pipeline (Project Pluto)
Brent: attached is a draft memo that Lynn and I prepared. We would appreciate your comments. Also, who else do you think should be a recipient of this memo? Should we prepare a separate "Action Plan" or strategy to submit to Mike? You may recall in our meeting of Friday last that Mike committed to assess the long term situation in BA (at least I think that's what he agreed to do) and we (foolishly) committed to prepare a review of our activity in BA. Maybe we can discuss on Friday morning at 9 am (Houston)/12 pm (BA). Let us know if you have any questions. I believe that Lynn is in a seminar on Thursday. Sara
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answer: Draft Trading Memo
The hotel we are staying at is the Palm Court Hotel in St Martin-on Orient Beach. Phone number is 590-87 41 94. Web site (if you want to check it out tomorrow!) is palm-court.net...The rooms have refridgerators, and I think breakfast is complimentary. If you need any other info, let me know.. Stacey/Susie-just tell the cab driver you are going to Orient Beach and once you get there the hotel is on Bikini Beach.
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answer: Hotel info in St Martin
I wanted to ask a favor. Would you mind reminding your group to please let us know when they change a pipe or trading zone or add a location to a deal in sitara. If we do not catch this change, the trader will be getting the deal at contract instead of mid, because the swap does not automatically update when you change the physical deal. If the change is simply a meter, that will not effect the pricing of the deal. Thanks for your help. PL
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answer:
sitara deal locations