Here is an email: All, attached is a redline of Master Netting Agreement against the previous Cook c draft and the proposed Collateral Annex. Please review and provide your comments to me by first thing Tuesday morning. Major issues for resolution: 1. We have determined that we should file on cash collateral in Canada. Peter Keohane is reviewing the forms and processes for such, including how to determine and establish priority with respect to same. Peter will coordinate with Credit concerning the mechanics of accomplishing the filings. 2. Due to the continued concern by some counsel in respect of mutuality issues for setoff and netted settlement (another form of setoff) "aggregate liability clauses" set forth in 3a and 3b have been included for our consideration. We must come to a consensus as to whether this language/concept should/must be included. If the answer is yes, is the language included the best tactic? 3. Mary Perkins is reviewing LC matters with banks to be sure the modified format set forth in this draft is satisfactory. Timing Objective: Our objective is to provide everyone another draft on Tuesday and finalize on Wednesday. This will require a conference call sometime Monday afternoon. Carol, Rick, David, Peter and Elizabeth please provide Esmeralda Gonzalez, my assistant, at 713 345-7621 with your Monday afternoon availability and she will set a time and advise you. For those of you who had a prior draft of the Collateral Annex, I could not get this redlined for some reason, I apologize. Carol, since I am out Friday will you please call Cadwalader and be sure they received this. Further, will you ask them to review the NY choice of law provision in light of Canada cash collateral issue. Thank you. David and Rick, in your review please give special attention to the calculation mechanisms utilized for the determination of the Collateral Requirement. Esmeralda, after you have determined availability, please send email to Carol, Elizabeth, Rick Antonoff, David Mitchell and Peter Keohane advising of the time (Houston time). We will call other parties and do not need a call in number.
What is a potential subject line for this email?
A: Master Netting Agreement
Here is an email: Mike Moran has informed me that the FTC and U.S. DOJ, as part of their review of the El Paso-Coastal merger, have decided to take a close look at the merger's possible impact on competition in the Chicago-Wisconsin market. In this regard, those agencies need to set up a conference call in the next two weeks to discuss that issue with experts on that market from Border and Northern. This will not be an on-the-record deposition. It will be a conf. call and what I expect to be an informal question and answer session on what we know. Representatives of the Wisconsin and Illinois Attorney General's office (or whatever agency it is in those states that deals with antitrust issues) will be on the phone as they are working with the Feds on the merger. I think either one of you guys, with appropriate supervision, would do a fine job. Please let me and Mike know who gets the black bean and what your general availability is and we'll get it set up. Thanks. DF
What is a potential subject line for this email?
A: El Paso-Coastal Merger
Here is an email: Attached is the latest version of the Transaction Agreement and Master Firm Agreement reflecting Tanya's recent conversation with NUI. Please give me your comments. I will forward these to NUI once I have heard form each of you. Stacy
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A:
NUI