Tom:  I'm trying to finalize the ISDA Master Agreement with these guys.
We have  one issue:  If there is a long-term market disruption event (i.e.
over 3 days), and we  have no fallback price, then we negotiate a price and ENA would normally  obtain 2 quotes and average them.
Our position is that we prefer to obtain  the quotes because if a disruption were to occur, we would obtain quotes for  hundreds of deals in the same manner (because our agreements will all have  the same provisions) and it is possible that 4 quotes may not be available.
NYSEG would like for each of ENA and NYSEG to obtain 2 quotes and then  average the 4 quotes.
Are you agreeable to this?
Sara

New York State Electric & Gas ("NYSEG")
Tom: I'm trying to finalize the ISDA Master Agreement with these guys.
We have one issue: If there is a long-term market disruption event (i.e.
over <NUMBER> days), and we have no fallback price, then we negotiate a price and <COMPANY> would normally obtain <NUMBER> quotes and average them.
Our position is that we prefer to obtain the quotes because if a disruption were to occur, we would obtain quotes for hundreds of deals in the same manner (because our agreements will all have the same provisions) and it is possible that <NUMBER> quotes may not be available.
NYSEG would like for each of <COMPANY> and NYSEG to obtain <NUMBER> quotes and then average the <NUMBER> quotes.
Are you agreeable to this?
Sara
like company nyseg hundreds deals manner tom trying finalize long term average position prefer isda master agreement event number sara obtain quotes disruption days fallback price