QUESTION: 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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ANS: Master Netting Agreement
Attached is an amendment to the ENA/ Dynegy agreement regarding the Sithe deal. It may require some clean-up but if you would please consider whether this meets the objectives of cross defaulting ENA's payment obligations under the Letter Agreement and netting and setoff with the Master Netting Agreement. Please call me with your comments as soon as possible. Thanks!
Q: What is a potential subject line for this email?
answer: Dynegy
I extended deal 559947 (Pool sale) thru the 31st, a volume of 27935 per day. I changed storage deal 456379 from 196985 to 46985 on the 31st ONLY!! Joann, for Jan, we are selling New Power 31,679 out of the pool and 25893 from other sources (AO6, Broad Run, Delmont, and Monclova - this includes the AO6 they are buying from us). Which means we should only have 3844 out of the pool. Actually the citygate and storage should be as follows Vol Comment 3844 Out of the pool 25893 Other receipt supply xxxx Storage - and this should match whats on the storage ticket.
Answer: New Power deals
Here is an email: Attached is the form of master agreement which I sent to you earlier today. Please forward to AEC to facilitate their review. I have highlighted the sections that are different from the existing master in place with AEC. I did not have the original 97 agreement on word document so I simply highlighted those sections.
What is a potential subject line for this email?
A: Highlighted Master
Q: Please replace page 6 in the NBP Plan Presentation with the attached slide. Please call if you have any questions. I can be reached at (402) 398-7257.
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A: Revised slide
Here is an email: Willie: Thanks for your voice mail message. As I explained to Joe and David, on all of the counterparties where we have "EOL Issues" I need to know what those issues are and then I will call them. Could you please advise Joe and/or David about this and then I will follow up. The only issue that we discussed was the issue that these counterparties are thinking that the clicking requirement in the ETA applies to confirms which it doesn't. Thanks
What is a potential subject line for this email?
A:
EOL Issues