IN: This is an email
Richard: In reviewing our ISDA forms we had the following questions for you with respect to the arbitration and process agent language: 1. Do any changes need to be made to our arbitration language? I have enclosed what we currently use. Also, should we keep in waiver of jury trial even if arbitration is chosen for situations where the award needs to be enforced in court? Is it necessary to have a statement that the award can be enforced in court? 2. We have assumed that there is no need to add our appointment of process agent language if our counterparty is either organized in the US or Canada or maintains a branch or office in the US or Canada. Is this a correct assumption? Enclosed is our process agent language. I look forward to hearing from you. As we discussed last week, we will arrange a time that you can talk generally to our group about arbitration issues and questions. Carol

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OUT: ISDA Forms
QUESTION: Joe - I have attached a copy of the Assignement Agreement that Chris forwarded to Bob and noted my comments. Please review at your convenience and let me know your thoughts. Thanks.
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ANS: Assignment Agreement
Tanya: Here are the credit related comments that we received from Quaker Oats' counsel: 1. They prefer Market Quotation instead of Loss. This will obviously be a discussion point given the type of commodity that we anticipate. trading with them 2. They want a Minimum Transfer Amount just for them of $250,000. 3. They want to reduce rounding to $25,000. 4. They do not want the provisions of section 6(c) of the CSA to apply at any time. 5. They deleted the concept that a party holding an LC could draw on it if there was an Event of Default, meaning that we would have to wait to terminate and have a payment obligation owing to us before we could draw. 6. They do not want any LC to be transferable. 7. They want the Enron Guaranty to cover our obligation to return collateral taht has been posted to us, which I guess means that if we didn't return collateral to them then they could go after Enron for that amount. Without this language they would have to declare an Event of Default, terminate and then go after Enron for any amount that we owed them. To the extent that we were holding cash colateral, they could offset that amount against amounts that they might owe us. This is an interesting issue and one that I have not seen before. 8. They want the Guaranty cap to be rased to $25,000,000. Where does this ISDA stand on the priority list? Is this something I should try to push forward in the next week or 2 while I am hear or can it wait? Carol
Q: What is a potential subject line for this email?
answer: Quaker Oats
The place (outside) is a mess and needs some clean-up (e.g., get all that old wood out of the front yard, whack down the weeds). Possible for you guys to come up next Wednesday night and we can do a quick clean up on Thursday. I'm going to try to hire a hauling company to help us and haul it away. If Cameron has to work are you available? Best,
Answer: Memorial Day
Here is an email: The following parcel's open season has expired and is pending award of bids by the releasing shipper. Releasing Shipper: Enron North America Corp. Parcel: 8867 Contract Number: 08076 Path: Kingsgate to Malin Quantity: 15000 Min Release Quantity: 15000 Begin Date: 12/1/2001 End Date: 11/1/2002 This parcel is Biddable Open Season Begin Date: 11/27/2001 11:00 A.M. Open Season End Date: 11/27/2001 12:00 P.M. The prearranged replacement shipper is: Canadian Natural Resources Limited PG&E National Energy Group and any other company referenced herein that uses the PG&E name or logo are not the same company as Pacific Gas and Electric Company, the regulated California utility. Neither PG&E National Energy Group nor these other referenced companies are regulated by the California Public Utilities Commission. Customers of Pacific Gas and Electric Company do not have to buy products from these companies in order to continue to receive quality regulated services from the utility.
What is a potential subject line for this email?
A: PG&E eTrans Notification - Parcel 8867 is Award Pending
QUESTION: Mark, I have attached a document which contains the long descriptions for Canadian Daily Nat Gas options. The trader will be using Options Manager on these products and because he has to choose an exercise date, he will choose a middle of the month business day. However, there will be an option per day during the term. Please review the descriptions the trader put together and let me know your thoughts. Kevin Meredith
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ANS:
Canada Gas options