Nothing fatal. Here are some thoughts/comments on the AMA for your general consideration: 2.2 (d) Bank accounts/bookkeeping. I've previously been advised that Corp performs this function. Issues which arise: will the money be invested overnight, who has signature authority, etc. We have a draft services agreement prepared for Peoples which can serve as a "go by" if you decide you need a separate doc. 2.2 (b)Billing/collection. Responsibility generally should stop at sending nastygrams. No duty to hire lawyers, etc. 2.2 (f) Insurance. In Texas, you have to have licenses to buy/sell insurance and adjust claims. Current language may be soft enough to not violate licensing laws. 2.2 (g) cost of filing for licenses and permits not included in defn of Marketing Expenses, but there's some catch all language that might help. 2.3 Accountants may like it to be clear that we can't hire/fire O & M contractor, set O & M policies, or dispatch plant. 3.2 If there are multiple transactions in a short period, these may be captured in one document, not one document for each transaction. It would be helpful if the EEIM for use with others explains our agency role. (may be in there - didn't review a copy) Is the Owner a power marketer yet? Are we helping them get EEIM's with the Approved Counterparties, or are they on their own? Will Enron sign on behalf of Owner for Contractor (Enron) transactions (sounds silly)? Is there an EEIM in the works between EPMI and Owner? 3.3 (f) I suspect by now you've figured out profits, etc, relating to "day of" transactions. 3.4 last line - should it be interruptible instead of contingent? Assume Owner has transmission risk? Is there a "no third party beneficiary" clause? I might have missed it. Not life or death. Interesting structure. Could I get a copy of the final document? Thanks,
Write a subject line for this email.
to read or not read, that is the question