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.
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answer: Master Netting Agreement
Attached is a very rough draft of the O&M Agreement based on our discussions. There are several blanks concerning the numbers and I have noted several questions thoughout the agreement that need further clarification. I am okay with sending this to the operator with the caveat that although the general substance of the agreement is in place, there may be some further changes to the language after further review. Please review.
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answer: O&M Agreement Draft
Attached are the revised June 30, 1999 Amendments to the Compressor Service Agreement both Bisti and Bloomfield which supersede the June 18, 1999 amendments. Redlines are also attached to show the changes from prior versions. Also attached are revised TW payout amount letters date June 30, 1999 which supersede the June 18, 1999 letters. All were executed late today and will be distributed in the morning. However, in the interest of time, I am distributing these now for your information.
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answer: TW Amendment and Letters
We have a 7:30 shotgun start tomorrow morning. We will have to pay and get out to our hole, so give yourself some time if you want to hit a few before we tee off. We still need one more person. Everyone else already had plans. If you know of anyone who would like to play, invite them and let me know his name. Unfortunaltey Jeff, you are the only guy who is any good. West on Hwy 290 Pass the Beltway - Remember I said it's BFE Exit Spring Cypress/Cypress Rosehill (About 12 miles past the Beltway) Go thru 2 stop signs (First one is Spring Cypress-Second one is Cypress Rosehill) After 2nd stop sign, make first right (there is not a stop sign at the intersection) - I believe the street is Cypress Chase The road will dead end into a T Make a left and the course is on the right - You can't miss it I'll have my cell phone on if you get lost - 832-563-6328. Call me if you have any questions. Thanks. DG 3-9573
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answer:
Golf