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Enron Mail |
F.Y.I. Mark
-----Original Message----- From: Kevin_T_Howell@dom.com [mailto:Kevin_T_Howell@dom.com] Sent: 29 November 2001 08:43 To: Frevert, Mark Subject: Master Netting Agreement Kevin T Howell Dominion Energy Clearinghouse Ph: (804) 273-4848 Fax: (804) 273-4445 __________________ Mark My phone message this morning relates to the Master Netting Agreement that we have been negotiating with your team for the past several days. It is my understanding that the language on both the ISDA and the Master Netting Agreement have been agreed to but Enron is unwilling to sign either under the current circumstances. While we would like to get the ISDA signed and have offered a margin holiday as an incentive, I also see your side of the issue. I would however ask you and your team to separate the two issues and at least sign the Master Netting Agreement. Based on Enron's stated goal to protect its core energy trading business, Dominion is still transacting with Enron. The Master Netting Agreement should be in both of our interest by providing needed liquidity for additional transactions. I believe that everyone in this industry would like to see Enron's energy trading emerge intact and Dominion would like to provide whatever reasonable support we can towards that goal. The Master Netting Agreement is a critical issue for us and represents the centerpiece of out ongoing relationship with Enron. Mark, I realize that your plate is extremely full right now and this issue is not at the top of your list. I would simply ask that you ask the Enron team that has worked on this the past days to remain engaged with our team and bring this to finality. Kevin T Howell Dominion Energy Clearinghouse Ph: (804) 273-4848 Fax: (804) 273-4445
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