Message-ID: <19760764.1075860069401.JavaMail.evans@thyme>
Date: Wed, 1 Mar 2000 11:52:00 -0800 (PST)
From: mark.taylor@enron.com
To: edmund.cooper@enron.com
Subject: EOL Credit Derivatives - Long Descriptions
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Mark Taylor
X-To: Edmund Cooper
X-cc: 
X-bcc: 
X-Folder: \Mark_Taylor _Dec_2000\Notes Folders\Sent
X-Origin: Taylor-M
X-FileName: mtaylor.nsf

Edmund - 

I have reviewed the long descriptions I was given for the credit derivatives 
(I can't tell if they are current) and have substantial comments - I have 
attached what I have come up with (sorry it's in 2 pieces).  Basically I 
don't think we should be restating something in the Long Description that is 
already covered (sometimes with different language) in the GTC - this only 
creates an ambiguity and is not necessary to form a complete contract.  My 
other concern - and I have not been able to draft language to fix it - is 
that I can't find any definition of the Seller Payment amount and I don't 
think the Buyer Payment language works  -  can you give me a call so we can 
discuss my concerns?