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Enron Mail |
John:
I am checking with our credit person on the cxross default issue. Also, we have changed our form of Guaranty since the prior one was entered into and I would prefer that you consider using the new form. The main difference is in Section 2 where we have made chnages to the mechanics for demanding payment under the Guaranty. These are the exact same mechanics that are in the Enron Guaranty that I provideed. Enclosed is the new form. Let me know what you think. Carol St. Clair EB 3892 713-853-3989 (Phone) 713-646-3393 (Fax) "Shuttee, John" <ShutteeJ@EPEnergy.com< 05/23/2000 11:23 AM To: "'Carol St Clair'" <Carol.St.Clair@enron.com< cc: "Shuttee, John" <ShutteeJ@EPEnergy.com< Subject: RE: Cross Default Language Carol - Our legal department is in the process of reviewing the schedule, paragraph 13, and L/C provisions/schedule. I will send you new drafts once I incorporate comments from them. Two other things: 1. Enclosed is a "new" format of Guarantee for your review. Actually, this should be similar to the 1995/6 version Enron has already accepted. 2. I disagree with your changes in C/D threshold discussed below. We prefer to limit this to the Credit Support Provider (as per your original change) as this is who guarantees the ISDA. I have incorporated your original comments with little change which you can review when I send the drafts. John < -----Original Message----- < From: Carol St Clair [SMTP:Carol.St.Clair@enron.com] < Sent: Monday, May 22, 2000 5:21 PM < To: Shuttee, John < Subject: Cross Default Language < < < < John: < Please see the enclosed attachment. If we go with this language then you < can < ignore my comments to Part 1 © and (e) of the Schedule. < < (See attached file: El Paso Cross Default Threshold.doc) < Carol St. Clair < EB 3892 < 713-853-3989 (Phone) < 713-646-3393 (Fax) << File: Mac Word 3.0 << ****************************************************************** This email and any files transmitted with it from El Paso Energy Corporation are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender. ******************************************************************
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