fw : master netting agreement f . y . i . mark
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from : kevin _ t _ howell @ dom . com [ mailto : kevin _ t _ howell @ dom . com ]
sent : 29 november 2001 08 : 43
to : frevert , mark
subject : master netting agreement
kevin t howell
dominion energy clearinghouse
ph : ( 804 ) 273 - 4848
fax : ( 804 ) 273 - 4445
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mark
my phone message this morning relates to the master netting agreement that
we have been negotiating with your team for the past several days . it is
my understanding that the language on both the isda and the master netting
agreement have been agreed to but enron is unwilling to sign either under
the current circumstances . while we would like to get the isda signed and
have offered a margin holiday as an incentive , i also see your side of the
issue . i would however ask you and your team to separate the two issues
and at least sign the master netting agreement .
based on enron ' s stated goal to protect its core energy trading business ,
dominion is still transacting with enron . the master netting agreement
should be in both of our interest by providing needed liquidity for
additional transactions . i believe that everyone in this industry would
like to see enron ' s energy trading emerge intact and dominion would like to
provide whatever reasonable support we can towards that goal . the master
netting agreement is a critical issue for us and represents the centerpiece
of out ongoing relationship with enron .
mark , i realize that your plate is extremely full right now and this issue
is not at the top of your list . i would simply ask that you ask the enron
team that has worked on this the past days to remain engaged with our team
and bring this to finality .
kevin t howell
dominion energy clearinghouse
ph : ( 804 ) 273 - 4848
fax : ( 804 ) 273 - 4445