Q: The policy spelled out in Order No. 637 (and affirmed on rehearing in Order No. 637-A) for pricing under ROFR at the expiration of a lower-rate service agreement (where rates are "vintaged"). In both Order No 637 and Order No. 637-A the Commission notes that this policy is consistent with the Certificate Policy Statement issued in 1999. Order No. 637 states as follows: [A] shipper exercising its ROFR could be required to match a bid up to a maximum rate higher than the historic maximum rate applicable to its capacity in certain limited circumstances: when a pipeline expansion has been completed and an incremental rate exists on the system; the pipeline is fully subscribed; and there is a competing bid above the maximum pre-expansion rate applicable to existing shippers. * * * As the Commission explains in the Certificate Policy Statement, to adjust the maximum rate applicable to shippers exercising their ROFR in these circumstances, the pipeline would have to establish a mechanism for reallocating costs between the historic and incremental rates so all rates remain within the pipeline's cost-of-service. The mechanism can be established either through a general section 4 rate case or through the filing of pro forma tariff sheets which would provide the Commission and the parties with an opportunity to review the proposal prior to implementation. Order No. 637 references one instance where a pipeline had filed such a mechanism as follows: Cf. Viking Gas Transmission Company, 89 FERC Para. 61,204 (1999) (rejecting tariff filing to raise matching rates under a ROFR where, among other things, the filing did not readjust existing and expansion rates. Jan and I are doing a search right now to determine where there have been any other filings. I'll let you know what we find. Let me know if you have any follow-up questions.
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A: Order 637 ROFR Pricing Policy

Q: I wanted to try to set a day where we can all get fitted for our Tuxedos for the wedding. I would like to get it done sometime in the very near future. It should not take mor than a couple of hours. Would you all be available Saturday December 29? Please let me know if this date does not work. Jason
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A: Tuxedos for the wedding

Q: We are moving ahead with finalizing a Master Netting Agreement that will cover all physical and financial agreements between BNP Paribas and Enron, except for the exchange agreements pertaining to NYMEX and LME trading. The agreements to be included under this arrangement are listed below. The intent is to complete the agreement by close of business on Tuesday, November 27. We have communicated this to Bart Schouest at BNP Paribas and to BNP Paribas' counsel in New York. 1. ISDA Master Agreement dated effective as of June 28, 1995 between Enron North America Corp., formerly Enron Capital & Trade Resources Corp., and BNP Paribas, formerly Banque Paribas (as the same may have been or may be amended, restated, supplemented of otherwise modified from time to time, and including all Transactions, schedules, annexes, and confirmations thereunder, collectively). 2. Interest Rate and Currency Exchange Agreement dated effective as of January 16, 1992 between Enron Corp. and BNP Paribas, formerly Banque Paribas. 3. ISDA Master Agreement dated effective as of February 22, 2000 between Enron Capital & Trade Resources International Corp. and BNP Paribas. 4. ISDA Master Agreement effective as of April 4, 2000 between Enron Credit Limited and BNP Paribas. 5. General Terms & Conditions governing transactions executed between Enron Capital & Trade Resources Limited and BNP Paribas. 6. General Terms & Conditions governing online transactions executed between Enron Capital & Trade Resources Limited and BNP Paribas for the Sale and Purchase for Flat UK Beach Trades. Please address any questions or concerns to me ASAP. Regards,
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A: BNP Paribas Master Netting Agreement

Q: FYI, I have a database where I keep track of my online approvals/declines and reasons why (if there are any!). I don't know to what extent Frank ever looked at it, but you might find it helpful. It is called "ENA Legal Online Trading Agreements" database. If you're interested, I'll ask Mike Neves to get you access.
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A:
Legal EOL Database