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Enron Mail |
David,
I believe that the ownership percentage in Section 2.11 should be 100%, not 50%. If we were to sell off any meaningful portion of either subsidiary, we would likely want that entity to stand on its own credit; at a minimum, Enron Corp. would be due compensation for the guaranty it is providing from the minority shareholder(s). Please call me to discuss if there are objections. Paul -----Original Message----- From: Portz, David Sent: Monday, April 09, 2001 2:51 PM To: Curry, Mike Cc: Radous, Paul; Sager, Elizabeth Subject: Re: EES QSE - Credit provision Mike --Per your request, modifying the redlined document you sent to EES this morning. Please review Section 2.11. I have also changed exhibit references to take into account the elimination of Exhibit B. --David << File: EES QSE LSE Agr (4-9-01 new 2.11).doc << Mike Curry/ENRON@enronXgate 04/09/2001 12:54 PM To: David Portz/HOU/ECT@ECT cc: Paul Radous/ENRON@enronXgate Subject: EES QSE - Credit provision David, could you please insert a material adverse change clause in our QSE agreement with EES. This is to cover EPMI in the event EES is sold partially or wholly to a third party. If this occurs, the third party would have to negotiate acceptable credit terms with EPMI. In my meeting with Paul he said that this is standard in our other agreements with EES. This is all we need for credit for EES QSE. Thanks for your assistance, - Mike
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