FW: Northwestern

---------------------- Forwarded by Kay Mann/Corp/Enron on 04/12/2001 04:36
PM ---------------------------
From: Herman Manis/ENRON@enronXgate on 04/12/2001 04:30 PM
To: Kay Mann/Corp/Enron@Enron
cc: Ben Jacoby/HOU/ECT@ECT

Subject: FW: Northwestern

Kay

We still need to contemplate the scenarios and discussions held today
surrounding revenue recognition and counterparty's ability to clawback on
payments they make to us.

-----Original Message-----
From: Jacoby, Ben On Behalf Of Ben F Jacoby/HOU/ECT@ECT
Sent: Thursday, April 12, 2001 4:20 PM
To: Mann, Kay; Booth, Chris; Manis, Herman
Subject: Northwestern

Folks:

With respect to the Northwestern transaction, I'd like to understand what it
would take in the letter agreement to allow us to recognize the entire $8MM
upon execution of the letter agreement. In my conversation today with Kay, we
talked about making sure we could at least recognize the $8MM in equal
instalments between the execution of the letter agreement and September 1,
2001 (the outside date for closing). If at all possible, I'd like to take
this one step further so that the entire amount could be recognized in Q2.
Let's plan to talk about this on Monday. Any thoughts on this prior to Monday
would be appreciated.

Regards,

Ben