Fwd: RE: Hub LLC Agreement

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From: j.nassos@pecorp.com
To: dtucker@bracepatt.com
Cc: cdade@bracepatt.com, Gregg.Penman@enron.com, Janet.R.Dietrich@enron.com,
lluce@enron.com, lstoler@enron.com, stweed@enron.com,
m.klyasheff@pecorp.com, r.dobson@pecorp.com, r.rodriguez@pecorp.com,
s.halfin@pecorp.com, t.hermann@pecorp.com, w.morrow@pecorp.com
Subject: RE: Hub LLC Agreement
Date: Thu, 25 May 2000 14:35:26 -0500
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In discussing the signing of Amendment #1 with Greg Penman, a couple more
changes were made to the document. As reflected in the attached marked
draft, the signatories for each member have been changed, and a missing
quotation mark has been added. Per my discussion with Greg, Peoples MW will
sign two copies and leave them with EMW in the Chicago office this
afternoon.

<<LLC Amend#1 4v3 MRK.doc<<

< ----------
< From: Nassos, John G.
< Sent: Thursday, May 25, 2000 10:44 AM
< To: 'Tucker, David - B&P'
< Cc: cdade@bracepatt.com; Gregg.Penman@enron.com;
< Janet.R.Dietrich@enron.com; lluce@enron.com; lstoler@enron.com;
< stweed@enron.com; Klyasheff, Mary P.; Dobson, Richard E.; Rodriguez, Roy;
< Halfin, Simon B.; Hermann, Timothy J.; Morrow, William
< Subject: RE: Hub LLC Agreement
<
< I agree with your comment. Attached is a revised draft, version 3, which
< has one change to the "Now Therefore" line to emphasize the present tense.
< A marked and clean version are attached.
<
< Assuming there are no further comments, I ask that someone at Enron give
< me a call to coordinate signing this amendment by fax today with a hard
< copy followup by overnight mail. Telephone is (312) 240-4413. Fax is
< (312) 240-4486. Thank you.
<
< <<File: LLC Amend#1 3v1 MRK.doc<<<<File: LLC Amend#1 v3.doc<<
<
< ----------
< From: David Tucker[SMTP:dtucker@bracepatt.com]
< Sent: Thursday, May 25, 2000 10:07 AM
< To: j.nassos@pecorp.com
< Cc: cdade@bracepatt.com; Gregg.Penman@enron.com;
< Janet.R.Dietrich@enron.com; lluce@enron.com; lstoler@enron.com;
< stweed@enron.com; m.klyasheff@pecorp.com; r.dobson@pecorp.com;
< r.rodriguez@pecorp.com; s.halfin@pecorp.com; t.hermann@pecorp.com;
< w.morrow@pecorp.com
< Subject: Re: Hub LLC Agreement
<
< <<File: #1125605 v2 - AMENDMENT TO LLC AGREEMENT.doc<<
< Thanks for your email.
<
< Cle and I have only one comment on the LLC Agreement amendment that
< we need to get signed up today: the phrase "on or prior to the date that
< the Member's election is made" should be appended to the new language.
<
< For your convenience, I have attached a new copy of the amendment
< agreement which incorporates the phrase.
<
< By carbon of this email, I am forwarding this draft to the relevant
< persons at Enron who need to sign off on the agreement. I will contact
< you immediately if any further changes are required. In the meantime,
< please let me know if our proposed change "works."
<
< Thanks! DT
<
< David A. Tucker
< Bracewell & Patterson, L.L.P.
< Pennzoil Place, South Tower
< 711 Louisiana
< Houston, Texas 77002
< Phone: (713) 221-1414
< Fax: (713) 221-1212
< Email: dtucker@bracepatt.com
<
< <<< <j.nassos@pecorp.com< 05/23/00 01:11PM <<<
< Attached for contemporaneous review and comment by Peoples and Enron
< is a
< draft amendment to the Midwest Energy Hub limited liablity company
< agreement. The amendment is needed because under Section 11.1(viii)
< the LLC
< is to automatically dissolve on this Friday, May 26, if Risk
< Guidelines are
< not approved by the LLC Board of Managers. Although such approval
< is not
< anticipated to take place by then, I assume both members of the LLC
< do not
< want to dissolve the company.
<
< Rather than simply extend the May 26 date for an extra 30 days,
< which could
< result in yet another amendment if that deadline is missed, the
< attached
< draft amendment proposes to make dissolution optional at the
< election of
< either member in is sole discretion after such date.
<
< Please call or e-mail with questions or comments by 5:00 pm
< Wednesday, May
< 24, to allow adequate time to make any changes and still sign the
< amendment
< on Thursday.
<
< John Nassos
< (312) 240-4413
<
< <<LLC Amend#1.doc<<
<
<
< ----------------------------------------------------------------
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< the
< intended recipient is prohibited. If you received this in error,
< please
< contact the sender and delete the material from any computer.
<
<
<

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- LLC Amend#1 4v3 MRK.doc