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FpML Loan WG - Tues, 20 Nov 2007 - 1000-1130 EST (1500-1630 London Time)

 
Dial-in Details
US: 888 481 3032
Intl: 617 801 9600
UK: 0800 904 7961

Participant Code: 28413758
 
Documents Attached
 
1. Minutes from last meeting - 6 Nov 2007.
2. Structure of FpML Settlement Instructions.
3. Example Drawdown Notice from JP Morgan - Steven Golikov (JPM).
4. Example Drawdown Notice from Citibank - Marc Gratacos (ISDA)
 
------------------------------------------------------
 
Questions Posed by JPM 
Attached is the loan pack with drawdown notice from JPMorgan, A number of questions arose concerning this example and some exceptions Jeffrey Studer pointed out.

See in the drawdown notice the following section:

<partyContractIdentifier >
        <partyReference href=" agentBankParty"/>
                <contractId id="ID000017" contractIdScheme=" http://jpmchase.com/drawdownId">123456 </contractId>
        </ partyContractIdentifier>

1) As we think about an interest payment, we thought it should match somehow with this field in the Drawdown Notice.  That tells us that the Rid Outstanding, and probably the Loan Alias, should be present. What is the purpose behind listing a global ID and then a partyreference and a series of contract IDs as well as versioned contract IDs.  We thought that both the RID and the Alias are unversioned contract IDs under the partyreference.  But, what would go into the ID field then, and how would one distinguish between the two contract IDs.

2) On the repricing, the price stays on the ABR until the banks in the alternate base rate changes their prime. This is a required field in the XML (should it be optional?)

3) The wiring instructions - where should go in this document once they establish the relationship? Normally, when we send the fax out we send out the wiring instructions.  NTVAR # that has to be in the wiring instructions that is needed to match funds. Its important to us how we provide this information in these documents. 
 
------------------------------------------------------
 
Thanks,
BK
 

Attachment: LoanWG_Minutes_20071106.doc
Description: MS-Word document

Attachment: FpMLSettlement_20071106.doc
Description: MS-Word document

<?xml version="1.0" encoding="UTF-8"?>
<!-- edited with XMLSPY v5 rel. 4 U (http://www.xmlspy.com) by JP Morgan Chase Bank (JP Morgan Chase Bank) -->
<FpML xmlns="http://www.fpml.org/2007/FpML-4-4"; xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"; xsi:schemaLocation="http://www.fpml.org/2007/FpML-4-4 fpml-main-4-4.xsd" xsi:type="LoanServicingNotification" version="4-4">
	<header>
		<messageId messageIdScheme="http://jpmchase.com/messageId";>12345</messageId>
		<sentBy partyIdScheme="http://www.fpml.org/ext/iso9362";>BOSTUS33NXXX</sentBy>
		<sendTo partyIdScheme="http://www.fpml.org/ext/iso9362";>BOLEUS31XXX</sendTo>
		<creationTimestamp>2007-03-17T09:30:47.0Z</creationTimestamp>
	</header>
	<drawdownNotice>
		<eventId eventIdScheme="http://jpmchase.com/noticeId";>NOTICE00001234</eventId>
		<noticeDate>2007-08-07</noticeDate>
		<agentBankPartyReference href="agentBankParty"/>
		<borrowerPartyReference href="borrowerParty"/>
		<lenderPartyReference href="lenderParty"/>
		<loanContract>
			<partyContractIdentifier>
				<partyReference href="agentBankParty"/>
				<contractId id="ID000017" contractIdScheme="http://jpmchase.com/drawdownId";>123456</contractId>
			</partyContractIdentifier>
			<dealIdentifier>
				<dealId instrumentIdScheme="http://www.fpml.org/spec/2002/instrument-id-CUSIP-1-0";>04039GAD3</dealId>
				<dealName>DEAL 001 (900MM) 10/25/07</dealName>
				<creditAgreementDate>2007-10-25</creditAgreementDate>
			</dealIdentifier>
			<facilityIdentifier>
				<facilityId instrumentIdScheme="http://www.fpml.org/spec/2002/instrument-id-CUSIP-1-0";>04039GAE1</facilityId>
				<facilityName>TL (198073892)</facilityName>
				<currency currencyScheme="http://www.fpml.org/ext/iso4217-2001-08-15";>USD</currency>
				<originalCommitmentAmount>395000000.00</originalCommitmentAmount>
			</facilityIdentifier>
			<borrowerPartyReference href="borrowerParty"/>
			<amount>
				<currency currencyScheme="http://www.fpml.org/ext/iso4217-2001-08-15";>USD</currency>
				<amount>197500000.00</amount>
			</amount>
			<effectiveDate>2007-10-25</effectiveDate>
			<maturityDate>2014-10-25</maturityDate>
			<currentInterestRatePeriod>
				<rateFixingDate>2007-10-25</rateFixingDate>
				<startDate>2007-10-25</startDate>
				<endDate>2014-10-25</endDate>
				<floatingRateIndex floatingRateIndexScheme="http://www.fpml.org/coding-scheme/floating-rate-index-1-0";>ABR</floatingRateIndex>
				<indexTenor>
					<periodMultiplier>0</periodMultiplier>
					<period>D</period>
				</indexTenor>
				<interestRate>0.09</interestRate>
				<margin>0.02</margin>
				<allInRate>0.11</allInRate>
				<interestDayBasis dayCountFractionScheme="http://www.fpml.org/coding-scheme/day-count-fraction-1-0";>G5/6</interestDayBasis>
				<tenor>
					<periodMultiplier>0</periodMultiplier>
					<period>D</period>
				</tenor>
			</currentInterestRatePeriod>
			<nextInterestPaymentDate>2007-12-31</nextInterestPaymentDate>
		</loanContract>
		<newDrawdownEvent/>
		<drawdownPayment>
			<paymentDate>1999-01-01</paymentDate>
			<shareLoanContractAmount id="NA1">
				<currency currencyScheme="http://www.fpml.org/ext/iso4217-2001-08-15";>USD</currency>
				<amount>0</amount>
			</shareLoanContractAmount>
		</drawdownPayment>
		<shareCommitmentAmount id="NA2">
			<currency currencyScheme="http://www.fpml.org/ext/iso4217-2001-08-15";>USD</currency>
			<amount>0</amount>
		</shareCommitmentAmount>
	</drawdownNotice>
	<party id="agentBankParty">
		<partyId partyIdScheme="http://www.fpml.org/ext/iso9362";>006192553000</partyId>
		<partyName>HOST BANK 001</partyName>
	</party>
	<party id="lenderParty">
		<partyId partyIdScheme="http://www.fpml.org/ext/iso9362";>000539684000</partyId>
		<partyName>LENDER 001</partyName>
	</party>
	<party id="borrowerParty">
		<partyId partyIdScheme="http://www.fpml.org/ext/iso9362";>005353701000</partyId>
		<partyName>BORROWER 001</partyName>
	</party>
</FpML>

<?xml version="1.0" encoding="UTF-8"?>
<!-- Please look at page 3 of the Notices - LSTA.pdf file -->
<FpML xmlns="http://www.fpml.org/2007/FpML-4-4"; xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"; xsi:schemaLocation="http://www.fpml.org/2007/FpML-4-4 fpml-main.xsd" xsi:type="LoanServicingNotification" version="4-4">
	<header>
		<messageId messageIdScheme="http://citi.com/messageId";>12345</messageId>
		<sentBy partyIdScheme="http://www.fpml.org/ext/iso9362";>CITIUS33XXX</sentBy>
		<sendTo partyIdScheme="http://www.fpml.org/ext/iso9362";>BOLEUS31XXX</sendTo>
		<creationTimestamp>2007-03-17T09:30:47.0Z</creationTimestamp>
	</header>
	<drawdownNotice>
		<eventId eventIdScheme="http://citi.com/noticeId";>NOTICE00001234</eventId>
		<noticeDate>2007-04-20</noticeDate>
		<agentBankPartyReference  href="citi"/>
		<borrowerPartyReference href="giant"/>
		<lenderPartyReference href="lenderParty"/>
		<loanContract>
			<partyContractIdentifier>
				<partyReference href="citi"/>
				<contractId contractIdScheme="http://citi.com/drawdownId";>814BDPL07110000F</contractId>
			</partyContractIdentifier>
			<dealIdentifier>
				<dealId instrumentIdScheme="http://www.fpml.org/spec/2002/instrument-id-CUSIP-1-0";>NOT PRESENT</dealId>
				<dealName>Giant Eagle(06)</dealName>
				<creditAgreementDate>2005-11-07</creditAgreementDate>
			</dealIdentifier>
			<facilityIdentifier>
				<facilityId instrumentIdScheme="http://www.fpml.org/spec/2002/instrument-id-CUSIP-1-0";>374458AB3</facilityId>
				<facilityName>Giant Eagle(06) Revolving Credit</facilityName>
				<currency currencyScheme="http://www.fpml.org/ext/iso4217-2001-08-15";>USD</currency>
				<originalCommitmentAmount>350000000.00</originalCommitmentAmount>
			</facilityIdentifier>
			<borrowerPartyReference href="giant"/>
			<loanContractAmount>
				<currency currencyScheme="http://www.fpml.org/ext/iso4217-2001-08-15";>USD</currency>
				<amount>8800000.00</amount>
			</loanContractAmount>
			<effectiveDate>2007-04-20</effectiveDate>
			<!--<maturityDate>2007-06-29</maturityDate>-->
			<!-- Not present -->
			<currentInterestRatePeriod>
				<rateFixingDate>2007-04-20</rateFixingDate>
				<startDate>2007-04-20</startDate>
				<!--<endDate>2007-05-31</endDate>-->
				<floatingRateIndex>CITIBANK PRIME</floatingRateIndex>
				<interestRate>0.0825</interestRate>
				<margin>0.25</margin>
				<allInRate>5.5</allInRate>
				<!--Not stated
					<interestDayBasis dayCountFractionScheme="http://www.fpml.org/coding-scheme/day-count-fraction-1-0";>ACT/360</interestDayBasis>-->
				<!--<tenor>
					<periodMultiplier></periodMultiplier>
					<period></period>
				</tenor>-->
			</currentInterestRatePeriod>
		</loanContract>
		<newDrawdownEvent/>
		<drawdownPayment>
   		        <paymentDate>2007-04-20</paymentDate>
				<shareLoanContractAmount id="ID000019">
					<currency currencyScheme="http://www.fpml.org/ext/iso4217-2001-08-15";>USD</currency>
					<amount>502857.14</amount>
				</shareLoanContractAmount>
		</drawdownPayment>
		<!-- Not provided <shareCommitmentAmount id="ID000018">
					<currency currencyScheme="http://www.fpml.org/ext/iso4217-2001-08-15";>USD</currency>
					<amount></amount>
		</shareCommitmentAmount>-->
	</drawdownNotice>
	<party id="citi">
		<partyId partyIdScheme="http://www.fpml.org/ext/iso9362";>CITIUS33XXX</partyId>
		<partyName>Citicorp U.S.A</partyName>
		<account id="citiAccount">
			<accountId>36852248</accountId>
			<accountName>AgencyMediurn Term Finance</accountName>
		</account>
	</party>
	<party id="lenderParty">
		<partyId partyIdScheme="http://www.fpml.org/ext/iso9362";>BOLEUS31XXX</partyId>
		<partyName>Bank Of Tokyo-Mitsubishi</partyName>
	</party>
	<party id="giant">
		<partyId partyIdScheme="http://www.fpml.org/ext/iso9362";>GIANTUS31XXX</partyId>
		<partyName>Giant Eagle Incorporated</partyName>
	</party>
</FpML>