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Hi Carol - It was good to hear from you. I have heard that they are keeping you pretty busy over there with Broadband and Power! With regard to Reliant's comments: Mid-Calculation language: Our comment/thought on this was made because we did not recall that this concept was ever approved by the Working Group. Current Mark-to-Market Value: I withdraw my comment. I have thought about it further and it is not relevant here. LC Evergreen language: I guess I would say that most of the time, the form LC we send to counterparties has this language in since it makes sense if the parties are going to have an ongoing trading relationship. I think that the Enron form has evergreen language too. It is more of an administrative hassle if it is not there but I don't have a strong feeling either way since we can just keep using our own form. I don't recall the discussion on this point and thus don't know if it was one person objecting or several. I hope this answers the questions. Thanks for doing all this work. Sincerely, Shari Senior Counsel Reliant Resources, Inc. 1111 Louisiana, Ste. 4300 Houston, TX 77002 Tel.:713-207-5233 Fax: 713-207-0116 Email: sstack@reliant.com The preceding e-mail message contains information that is confidential, may be protected by the attorney/client or other applicable privileges, and may constitute non-public information. It is intended to be conveyed only to the designated recipient(s). If you are not an intended recipient of this message, please do not read, copy or disclose the contents of this communication to others and please notify the sender at (713) 207-7414. If you are not the intended recipient, we would appreciate your forwarding the message back to us and deleting it from your system.Unauthorized use, dissemination, distribution, or reproduction of this message is strictly prohibited and may be unlawful. Thank you. "St. Clair, Carol" To: <SStack@reliant.com< <Carol.St.Clair@ cc: "Sager, Elizabeth" enron.com< <Elizabeth.Sager@enron.com< Subject: Collateral Annex 10/05/2001 09:42 AM Shari: Hope all is well with you. I agree with all of your comments. On Current Mark-to-Market Value why did you delete the "mid" calculation language? Also, I am not sure that understood your question about a party's credit rating. On the LC, I took out the evergreen language in response to a comment from someone. I need to put in at least expiration date language. Do you feel strongly about having evergreen language? 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 ********************************************************************** This e-mail is the property of Enron Corp. and/or its relevant affiliate and may contain confidential and privileged material for the sole use of the intended recipient (s). Any review, use, distribution or disclosure by others is strictly prohibited. If you are not the intended recipient (or authorized to receive for the recipient), please contact the sender or reply to Enron Corp. at enron.messaging.administration@enron.com and delete all copies of the message. This e-mail (and any attachments hereto) are not intended to be an offer (or an acceptance) and do not create or evidence a binding and enforceable contract between Enron Corp. (or any of its affiliates) and the intended recipient or any other party, and may not be relied on by anyone as the basis of a contract by estoppel or otherwise. Thank you. **********************************************************************
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