Charlie,

I think you are working on this one.

Santiago



 -----Original Message-----
From: 	Spence, Tricia  
Sent:	Tuesday, June 19, 2001 3:14 PM
To:	Boyt, Eric; Gossett, Jeffrey C.; Kelly, Katherine L.; Quick, Joan; McMichael Jr., Ed; Baxter, Bryce; Wynne, Rita; Anastas, Sherry; Hall, Bob M; Newman, Frank G.; Grass, John; Becton, Pam; Davis, Angelic; Boxx, Pam B.; Cook, Diane H.; Garcia, Santiago
Subject:	Syndication of STAR VPP, LP into KSTAR VPP LP



Looks like the close date for syndication of STAR VPP, LP in to the new funding vehicle KSTAR VPP LP (no periods, no commas)  is still on target for June 25th.  The effective date will be retroactive to May 1st in order for us to have the payments received for May production wired to the new KSTAR VPP LP account by the last LIBOR day in June (June 29th).

I would like to have a meeting to discuss how we will handle this name change internally so that payments are made correctly.

I am hoping for May production/June payment, we would leave the counterparty as STAR VPP, LP on all Sitara tickets and all payments received in to the STAR account will be transferred in to the KSTAR VPP LP account via wire transfer in our VPP accounting group.

We will also need to decide how we want to handle June production month forward.  

I have set up a meeting for tomorrow at 2pm in EB 3335.

Please let me know if you have a conflict.

Thanks
Trish
3-4222

 -----Original Message-----
From: 	Spence, Tricia  
Sent:	Thursday, June 14, 2001 4:48 PM
To:	Boyt, Eric; Garcia, Santiago
Cc:	Gossett, Jeffrey C.; Kelly, Katherine L.; Quick, Joan; McMichael Jr., Ed
Subject:	 KCS 1 into KSTAR Vehicle - NAME CHANGE


The syndication of  STAR VPP, LP into the new funding vehicle is on the way.  Below are the docs for review.  The new funding vehicle will be named KSTAR VPP LIMITED PARTNERSHIP (hoping I can shorten it to LP).  I wanted to have your group in the loop because this WILL require a counterparty name change in the system.  I am not sure of the effective date yet, but we will make it effective the 1st of the month.

I asked legal why we have to change the name and they informed me that because of the financial structure of the deal,  the banks want to know that this VPP is a newly formed entity with no prior business and no prior liabilities associated with it.  From a financial perspective, all business activity before syndication is done as STAR VPP, LP and all business done after syndication will be done as KSTAR VPP LIMITED PARTNERSHIP.  Believe me, I wish we could avoid the name change, but there is no way around it.

Once the contract details are fine tuned we can meet up on the process of the name change.

I will keep you informed of further activity.
Trish