QUESTION: Shona, As per my memo to you on August 13th, I am scheduling a kick-off meeting with individuals to discuss a daily tie-out process across all global risk applications/reports, i.e. DPR, Infinity, RisktRAC (VAR and Benchmark) and CAS. This would provide proof (or a trail to what is missing) that required information from all risk books, commodities, and business units are appropriately reported on a daily basis. As stated earlier, without a robust global books application, the daily process currently in place provides little assurance that "everything" rolls up correctly. It also does not include Infinity. My suggestion for attendance at this meeting, in addition to you, Beth and I, is as follows: Stacey White Todd Hall Sheila Glover/Clara Carrington
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ANS: Daily Tie Outs Across Risk Systems
Attached are the following drafts: 1. Amendment to Compressor Services Agreement (Bloomfield) 2. Amendment to Compressor Services Agreement (Bisti) 3. Amendment to Operation and Maintenance Agreement (Bloomfield) 4. Amendment to Operation and Maintenance Agreement (Bisti) These agreement will all be assigned (after amendment in accordance with the above) to the new LLC. Please review. We are trying to forward these drafts to the investors on Wednesday. If we could get your (Transwestern's) comments by tommorrow afternoon, it would be extremely helpful. Thanks for your attention to this matter
Q: What is a potential subject line for this email?
answer: Bisti & Bloomfield Amendments
Karolina and Rod: This swap has ended up on my desk! Imagine that. This transaction ought to be booked between RMT and ETOL. The existing ISDA Master Agreement from December 31, 1998 is between Enron Capital & Trade Resources Corp. and ETOL. We need to create an RMT/ETOL ISDA Master Agreement for this 3-year rate swap. Is ETOL prohibited from entering into swaps with other parties, such as RMT (under the terms of the lending documents)? Please bring me up to date. Thanks.
Answer: Enron Teeside Operating Limited ("ETOL") 3-year rate swap with Enron North America Corp.
Here is an email: Ben, In speaking with Herman, he suggested that you look at the earnings on Blue Dog on the hot list. It is showing a total $10.5 (4 East, 4 West in q2, 2.5 in q3 (East). ckm
What is a potential subject line for this email?
A: Blue Dog
Q: 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.
Propose a subject line
A: IMC Canada
Here is an email: This morning Enron's credit rating was downgraded to junk status which is below investment grade. This is very bad news for Enron's future prospects. The flurry of activity that you see from the trading and scheduling team is a direct result of our credit downgrade. Many of our contracts have provisions that allow our customers to stop performing on their contracts with us if Enron's credit rating falls below investment grade and if we are unable to post sufficient collateral. The trading, scheduling, and legal team are working together to figure out how to meet our physical delivery obligations over the next several weeks. This is our number one priority right now. I will still be holding the floor meeting at 1 PM today. I would like to hold the meeting earlier but am not sure that I will be able to do so. I know that people are very concerned about our ever-worsening status. I know that you want information as soon as possible. If I am able to meet before 1 PM I will send out an e-mail announcing an earlier meeting. Tim
What is a potential subject line for this email?
A:
Update