Enron Mail

From: carol.st.@enron.com To: william.bonnell@tres.bnc.ca Subject: Amendment Cc: tanya.rohauer@enron.com, elizabeth.sager@enron.com Bcc: tanya.rohauer@enron.com, elizabeth.sager@enron.com Date: Mon, 26 Nov 2001 11:27:14 -0800 (PST) Mr. Bonnell: At Tanya's request I am sending you a draft of the amendment agreement which would include cash as eligible collateral. I look forward to hearing from you and your attorney. The reason why a cash margin payment is not a preference under the Bankruptcy Code is because Section 546 (g) specifically excludes payments made under swap agreements from the preference provisions. I would be happy to speak with your attorney about this. Carol St. Clair EB 4539 713-853-3989 (phone) 713-646-8537 (fax) 281-382-1943 (cell phone) 8774545506 (pager) 281-890-8862 (home fax) carol.st.clair@enron.com