Enron Mail

From:sara.shackleton@enron.com
To:tanya.rohauer@enron.com
Subject:Cargill, Incorporated
Cc:susan.flynn@enron.com
Bcc:susan.flynn@enron.com
Date:Fri, 21 Apr 2000 02:04:00 -0700 (PDT)

Tanya: I left you a voice mail earlier this week on the single outstanding
issue: paragraph (B) of our setoff language. This provision allows the
nondefaulting party to withhold any payment it might owe to the defaulting
party under the master until the nondefaulting party can be certain IN ITS
REASONABLE DISCRETION that ANY other payments owed to it (under ANY other
agreements between the parties) by the defaulting party have been paid.
Cargill does not want to "comingle" its business. Remember, we have already
given in on "affiliate setoff". [the lawyer never raised the paragraph (B)
issue until this week!]

Also, Cargill has requested that we change our Credit Support Amount
definition (but I provided them with an explanation) AND Cargill has decided
to issue transferable L/C's.

Please let me hear from you so that we can finalize. I do not know if this
is a deal breaker.