Re: Lehman/ENE master

Doesn't the Termination event apply to both now? Or is it just S&P? I am ok
with either. Despain has made his position very clear on the cross-default.
It has to be $100 to match our Citibank revolver. If we concede the Term
event definition - maybe we can get them to go up to 100. We should stress
it is bilateral. Who are Paul Rosica and Richard Weiss?

Sara Shackleton
10/27/2000 09:53 AM
To: Tanya Rohauer/HOU/ECT@ECT
cc:
Subject: Lehman/ENE master

Spoke with Paul Rosica and left vm for Richard Weiss to discuss ENE draft
which we will email this morning. Paul indicated that Lehman would
compromise the cross D/F threshold at US$70 Million and would like the
Termination Event (or Event of Default) downgrade to apply to S&P or
Moody's. Jurisdiction will require further discussion. I will ask Tanya
about the threshold and downgrade issues now.

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