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Enron Mail |
Jason:
Here's my suggestion for item (ix) [Additional Event of Default] event on page 2 of the Schedule: "In the case of Party B, Enron North America Corp. .... owns less than a majority interest in Party B unless within five (5) Local Business Days of such occurrence, Party B posts collateral with Party A (i) in an amount equal to Party A's Exposure under this Agreement plus $250,000, but in no event greater than 125% of Party A's Exposure, and (ii) in a form satisfactory to Party A in Party A's reasonable discretion. "Exposure" shall mean for any relevant date for which Exposure is calculated, the amount, if any, that would be payable to Party A by Party B pursuant to Section 6(e)(ii)(2)(A) of this Agreement as if all Transactions were being terminated as of the relevant date; provided that Market Quotation will be determined by Party A using its estimates at mid-market of the amounts that would be paid for Replacement Transactions (as that term is defined in the definition of "Market quotation") in order to ensure that Party A does not suffer an economic penalty." I think that we agreed on everything else. Please send new blackline. Thanks. Sara Sara Shackleton Enron North America Corp. 1400 Smith Street, EB 3801a Houston, Texas 77002 713-853-5620 (phone) 713-646-3490 (fax) sara.shackleton@enron.com
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