email_body: Mark:  Per our conversation, I understand that the Canadian company has a number of  outstanding OTC FX transactions with one or more counterparties.
  Each of  those transactions should be documented by a confirmation which confirms the  economic terms of each deal.
  Each confirmation must be subject to (1) an  existing type of master agreement (such as the ISDA, IFEMA, FEOMA), (2) a  "deemed" version of such an agreement or (3) "terms and conditions" appearing  in the confirmation itself.
  It is quite likely that in any of these three  types of confirmations, there are provisions for assignment of trades, credit  event upon merger, material adverse change, additonal events of default or  termination, etc.
  which may be triggered by the pending acquisiton of the  Canadian company.
  Further, there may be credit issues associated with the  transactions and/or master agreements (in the form of specific credit  provisions in a confirmation or a credit annex to the master agreement).
  As  a result, a party attempting to "step into the shoes of the Canadian company"  must review the existing documents, subject to any confidentiality  restrictions, in order to evaluate the positions and risks associated with  assuming those positions.
  Thus, we need to conduct a thorough due diligence of the financial trading  positions of the Canadian company.
  Please let me know if you have any  questions.
  Sara
  
subject_line: Project Crane
  