Message-ID: <31987452.1075844506225.JavaMail.evans@thyme>
Date: Wed, 28 Jun 2000 06:27:00 -0700 (PDT)
From: sarah.wesner@enron.com
To: sara.shackleton@enron.com
Subject: Re: Margin Lines
Cc: jason.peters@enron.com
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I am assuming that ENA has corporate authority to do these transactions.  Do 
you know the answer to this? Sarah
---------------------- Forwarded by Sarah Wesner/Corp/Enron on 06/28/2000 
12:31 PM ---------------------------


Joel Ephross
06/28/2000 11:17 AM
To: Sarah Wesner/Corp/Enron@Enron
cc:  

Subject: Re: Margin Lines  

Where do we stand in terms of corporate authority to do these margin deals? 
Are there standing resolutions or will you need to go for board approval--the 
guaranty is not a problem, since there is a standing approval process on that 
document.



Sarah Wesner
06/28/2000 09:37 AM
To: Joseph Deffner/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Jason 
Peters/Corp/Enron@Enron, Joel Ephross/Corp/Enron@ENRON, Ed Wood/HOU/ECT@ECT
cc:  

Subject: Margin Lines

Good news.  

ABN Amro told us yesterday that they want to pursue this line and have it 
closed by the end of the week.  They asked us to send them a copy of the 
documentation where it stands up to now.  They gave us a copy of their 
mark-up of the Corp Guarantee which I gave to all of you.  ABN is motivated 
to get this done and will be amenable on pricing.  

Bank One talked to Jeff Shankman last night and has agreed to an effective 
rate of 0 for the initial margin.  They will charge us FF+30 but will 
reimburse us at FF+30 for any cash margins (see Schedule 1.)  Also Bank One 
will charge $2.55 a side for the commission ($5.10 total.)  Jeff told Bank 
One that ENE recently decided to pay all of its brokers the same fee 
(explains discrepancy between documentation and commission quotes from 
trading floor.)  As for the variation margin, the charge will be FF+30.  Bank 
One has  documents:
Customer Agreement - amendments will be made to Schedule 1 to reflect newly 
proposed commercial terms.
Enron Corp. Guaranty - Bank One needs to discuss Joel's request for Enron 
standard documentation
Credit line document - Jason/Sara need to make any necessary comments
Master Note (Promissory note) - NY law/jurisdiction will be acceptable.  Bank 
One needs to discuss Joel's' request for standard Enron documentation.  

Let's get together today so that we can organise ourselves to get our 
comments to the docs consolidated and close these as quickly and efficiently 
as possible.  

Thanks, Sarah