re : exxon company , usa global # 96035668 / sitara # 212225 i have re - checked sitara & verified that the above deal was a term , firm
deal . this resulted in a gtc purchase firm contract being set - up in the
global contracts system . the term of the gtc was set as the term of the deal
( 4 / 1 / 00 thru 3 / 31 / 01 ) with no evergreen , meaning that the contract will
expire at the end of this month .
to the best of my knowledge , all gtc purchase firms have the same language &
they do not have evergreen . they expire at the end of the primary term .
so , unless exxon negotiated a deal with different , special language to allow
for evergreen & included something about a " 10 day notification " to
terminate , there isn ' t any reason to " terminate " this contract .
if this is the case , please advise . otherwise , i don ' t think we need to do
anything . the contract will expire at the end of this month on its own .
elsa villarreal
03 / 15 / 2001 02 : 42 pm
to : amelia alland / hou / ect @ ect , cheryl dudley / hou / ect @ ect
cc : daren j farmer / hou / ect @ ect
subject : exxon company , usa global # 96035668 / sitara # 212225
please prepare and send a termination letter by tomorrow march 16 , 2001 on
the above referenced deal . houston pipe line company has not renegotiated a
price and have no interest in buying the gas on an evergreen basis . it is my
understanding that we need to notify them within 10 days of the end of the
delivery period
. if you need any additional information or have any questions , please
contact me at 35656 . thanks . emv
re : exxon company , usa global # 96035668 / sitara # 212225
i have re - checked sitara & verified that the above deal was a term , firm
deal . this resulted in a gtc purchase firm contract being set - up in the
global contracts system . the term of the gtc was set as the term of the deal
( 4 / 1 / 00 thru 3 / 31 / 01 ) with no evergreen , meaning that the contract will
expire at the end of this month .
to the best of my knowledge , all gtc purchase firms have the same language &
they do not have evergreen . they expire at the end of the primary term .
so , unless exxon negotiated a deal with different , special language to allow
for evergreen & included something about a " 10 day notification " to
terminate , there isn ' t any reason to " terminate " this contract .
if this is the case , please advise . otherwise , i don ' t think we need to do
anything . the contract will expire at the end of this month on its own .
elsa villarreal
03 / 15 / 2001 02 : 42 pm
to : amelia alland / hou / ect @ ect , cheryl dudley / hou / ect @ ect
cc : daren j farmer / hou / ect @ ect
subject : exxon company , usa global # 96035668 / sitara # 212225
please prepare and send a termination letter by tomorrow march 16 , 2001 on
the above referenced deal . houston pipe line company has not renegotiated a
price and have no interest in buying the gas on an evergreen basis . it is my
understanding that we need to notify them within 10 days of the end of the
delivery period
. if you need any additional information or have any questions , please
contact me at 35656 . thanks . emv