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Enron Mail |
----- Forwarded by Elizabeth Sager/HOU/ECT on 02/20/2001 02:22 PM -----
David Portz 02/20/2001 02:07 PM To: Elizabeth Sager/HOU/ECT@ECT cc: Subject: TVA ----- Forwarded by David Portz/HOU/ECT on 02/20/2001 02:07 PM ----- Edward Sacks@ENRON 02/20/2001 12:22 PM To: David Portz/HOU/ECT@ECT, Joseph Wagner/NA/Enron@Enron cc: Subject: TVA David, TVA's proposed credit assurance language should be amended to reflect our standard language with the downgrade event being established at BBB- or Baa3. Also, your redline should also delete any subjectivity which provides the TVA the unilateral right to call for additional or replacement collateral. In looking at historical agreements (i.e. master options agreement), our standard credit provisions have been accepted. I will forward another email with their prefered gty form. It appears that we currently have outgoing gtys; however, they govern certain agreements like the Master Options Agmt. Comments or questions, please call. Ed Sacks ---------------------- Forwarded by Edward Sacks/Corp/Enron on 02/20/2001 11:54 AM --------------------------- Joseph Wagner 02/20/2001 09:57 AM To: David Portz/HOU/ECT@ECT, Edward Sacks/Corp/Enron@Enron cc: Subject: TVA Dave and Ed, We closed two option deals with TVA last week. They have sent the following comments on our standard confirms. Dave - Rogers has already commented on the 16 hour call. His comment was that this is a 16 hour call, all or none, not up to 16 hours. Secondly, the option is exercisable in 50 MW blocks (increments of 50MW) not a minimum of 50 MW. Please look at the rest of the language and let me know your thoughts. Thanks. Ed- there are some credit additions on page 3 under credit assurance. Let me know what you think. Thanks guys. -Joe
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