Here is an email: At Mark's request, I am transmitting proposed changes to the collateral=20 arrangement language in the Online GTC's. Please let me know if it meets= =20 with your approval. 8. Collateral Arrangements. Counterparty shall (at Enron=01,s request) fr= om=20 time to time and at Enron=01,s option either: (i) within one Business Day = of=20 such request by Enron, provide to Enron a letter of credit in respect of=20 Counterparty's obligations under any Transaction, in such form and for such= =20 amount and from such issuer, as is acceptable to Enron in its absolute=20 discretion; or (ii) within such period as is specified by Enron, provide fo= r=20 the benefit of Enron a guaranty from a party, in such form and for such=20 amount as is acceptable to Enron in its absolute discretion. Failure so to= =20 provide such letter of credit or guaranty or any default under such letter = of=20 credit or guaranty shall constitute a default hereunder giving rise to the= =20 immediate right of termination by Enron under this Transaction.
What is a potential subject line for this email?
A: Revised Online Collateral Arrangement Language
Q: Andy, UBS has given us a list of open due diligence items made by UBS' Market Risk Group. We would like to have due diligence completed by this evening so that we might sign soon thereafter. Below are the items for which you were identified as NetCo contact. Please let me know the status of this information and send it to me as soon as possible. If you need any assistance from me, do not hesitate to call. 3) Detailed explanation of funding assumptions which would include what levels the traders expected to receive funding from Treasury and how Treasury derived both overnight and term internal lending rates. - Andy Zipper 4) A detailed description of how volatility curves are currently being built. Description should include what inputs are used, are outputs consistent with inputs, and are these curves independently verified by a internal control group. - Andy Zipper Regards,
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A: Open due diligence items
IN: Please give me some information regarding the gas contracts referenced in your e-mail. Are you working with Brant Reves in credit? I am unclear as to the "gas contracts". Thanks!

Generate a subject line.

OUT: Guaranty Agreement
IN: This is an email
Brent and Sara: Here is where we ended up yesterday after discussing the LC situation with Debbie: 1. Debbie and her group will initially review each LC that has been posted to Enron to determine if it is "transaction specific" or if it covers all trades with the counterparty. If it is transaction specific and the counterparty has performed, then no further action is required. If the counterparty has not performed then Debbie will work with us to see if a draw can be made. 2. If the LC covers all trades, Debbie will send copies of the LC and the transactions docs to me and we will determine what rights, if any, we have to draw. Each month, we will focus on those LC's that are due to expire that month. Call me if you have any questions. We will distribute the work to the trading lawyers as the need arises.

What is the subject?

OUT: Collateral and LC Issues
QUESTION: Attached is the updated status of the steel trades/transactions that have potential LOC/cashflow impact in the next few months. According to Kent, who had a direct conversation with Bowen late yesterday, all new steel trades/structured transactions not yet agreed to will require Bowen approval prior to being reviewed by RAC. In summary, the commitment status for the Kibar and EDZK trades is yet to be determined, upon reviewing the taped conversation between the traders and the counterparties. Duferco payments for the final 100,000 ton slab purchase and the $40,000 option are up for restructuring next week with the company. Please let me know if you have any questions/concerns. Thanks.
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ANS: EIM steel transactions pipeline update
IN: Tom, I was talking to Tony Honings with Central Illinois Light this morning about doing some trades on EOL. He said he calls you to do some of his physical deals and said he just likes talking to the traders. He did say he needed to start doing some online trades. He's close so next time you talk to him, see if you can give him a shove. Thanks.

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OUT:
Central Illinois