CMS - Draft

Here's the confirm
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 01/12/2000=
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01:56 PM ---------------------------
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=09
=09
=09From: Larry Joe Hunter 01/12/2000 08:40 AM
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To: Sara Shackleton/HOU/ECT@ECT
cc: =20
Subject: CMS - Draft

Sara,

Enclosed is the Draft for CMS. I used the Floating Price from the Term She=
et=20
sent by Julian. Let me know if we should include some of the language=20
previously used for this index (below). =20

Thanks,
Joe

The average of the daily MONOMIC Prices at the Ezeiza Market Node Center fo=
r=20
each day during the Calculation Period.=20

=01&MONOMIC Price=018 means the sum of (A) the average hourly price, quoted=
in=20
Argentine Pesos, for each day as published electronically in the =01&Docume=
nto=20
de Transacciones Econ?micas=018 (DTE) under the annex set forth in the=20
=01&Generadores=018 file labeled =01&A1.7 Precios Del Mercado en $/MWH =01=
) Mercado=018 as=20
published by the =01&Compa=0Fia Administradora del Mercado Mayorista El,ctr=
ico=20
Sociedad An?nima=018 (=01&CAMMESA=018) and (B), as applicable, either (i) 7=
.50=20
Argentine Pesos for those days that are Argentine Business Days or (ii) zer=
o=20
for those days that are not Argentine Business Days.

The parties agree that the Floating Amounts payable under this Transaction=
=20
shall be made in US Dollars, and the rate of exchange of Argentine Pesos to=
=20
US Dollars shall be of one (1) Argentine Peso per US Dollar as set forth=20
under Law 23,928, as amended, while there is free convertibility of the=20
Argentine Peso and the rate of exchange therein set forth is of one (1)=20
Argentine Peso per US Dollar. Otherwise, the rate of exchange between=20
Argentine Pesos and US Dollars shall be calculated using the exchange rate,=
=20
sell, for transfers abroad established by Banco Naci?n Argentina at the=20
closing of the Business Day prior to that on which payment is effected.=20
Argentine Peso means the lawful currency of the Republic of Argentina.