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Enron Mail |
In response to your email, an amendment to the referenced executed ISDA
Master was sent by Susan Bailey to the Counterparty on 11/23/99. With respect to the credit, this amendment provides for an increase in the Counterparty Exposure Threshold from U.S. $3,000,000 to U.S. $5,000,000, and amends one of the MAC provisions for Counterparty by increasing Counterparty's Net Worth from CAD$85,000,000 to CAD$150,000,000. Certain other changes are being made to agreement including amending certain of the the LC provisions, as well other changes to legal terms that will incorporate our recent form changes. THIS AMENDMENT HAS NOT BEEN EXECUTED. Other credit in the agreement not being amended includes 3rd party debt default for Counterparty of CAD$5,000,000 and U.S. $50,000,000 with respect to Enron Corp., an Exposure Threshold for ECT Canada of $10,000,000, and a MAC for ECT Canada tied to a drop in Enron Corp.'s Credit Rating below "BBB-" from S&P. The other MAC for Counterparty that is not being changed is if Counterparty's ratio of its Funded Debt to Net Worth is more than 1 to 1. I hope that helps...let me know if you need more info or if you need me to fax these documents to you.
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