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
Answer: Quaker Oats
** Proprietary ** Kevin: You wound me. I was the person that called you by error, I was trying to call Michelle and dialed your number by mistake. So by the time I was saying who I was you had already hung up, ouch! Sorry for the boo boo. Hey how's is everything going? Sometimes I hate bid week, it's too busy I don't have enough time to check in with people. Did Michelle tell you we picked up some more transport from her on TW and may no longer be looking for more. How's the Sun Devil project going anyway? I haven't heard any word lately. Hope all is well with you, take care,
Answer: wrong number
Richard: Please do not forward the Project Stanley email that we sent to you earlier today. I am making some revisions and will forward the revised document out to you and the others. Thanks.
Answer: PLEASE WAIT TO FORWARD EMAIL
Just wanted to let you guys know that Geoff unsubscribed from our Betas yahoogroup today. He did not re-subscribe with another email address. I'm only speculating now, but his email address was with TWA and we know that TWA was acquired by American Airlines, and the airlines are a mess right now. So, if you know of any other contact addresses with Geoff, get in touch with him and let us know how we can keep him in the loop. Geoff spent many years in the USAF, so hopefully he's not heading into some covert operation in Afghanistan. stay in touch with the brothers.
Answer:
[smu-betas] keep on the lookout for Geoff Anderson