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Enron Mail |
Wendy:
Thanks. Carol St. Clair EB 3889 713-853-3989 (Phone) 713-646-3393 (Fax) carol.st.clair@enron.com Wendy Conwell/ENRON@enronXgate 05/30/2001 04:22 PM To: Carol St Clair/HOU/ECT@ECT cc: Rhonda L Denton/HOU/ECT@ECT, Tracy Ngo/ENRON@enronXgate, Edward Sacks/ENRON@enronXgate, Paul Radous/ENRON@enronXgate Subject: RE: EPMI/Morgan Consent to assignment Carol, I read the assignment and reviewed our positions with Morgan and Merchant Energy Group of America ("MEGA"). Credit is fine with the assignment. However, as a result of MEGA assigning its trades to Morgan, our mark-to-market exposure to Morgan increases by approximately $27.8mm over the next 18 months. Although we have agreed to post margin to each other in the past, our current Master Energy Purchase and Sale Agreement with Morgan does not have any STATED provisions for margining. Consequently, we would like to amend the agreement to include collateral thresholds for both Enron and Morgan. I will discuss this issue with Ed and get back to you. Thanks, Wendy -----Original Message----- From: St Clair, Carol Sent: Tuesday, May 29, 2001 10:08 AM To: Conwell, Wendy Cc: Denton, Rhonda Subject: EPMI/Morgan Consent to assignment Wendy: Have you had a chance to take a look at this and if so, do you have any credit issues with this assignment? Carol St. Clair EB 3889 713-853-3989 (Phone) 713-646-3393 (Fax) carol.st.clair@enron.com
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