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Enron Mail |
Carol St. Clair
EB 3892 713-853-3989 (Phone) 713-646-3393 (Fax) carol.st.clair@enron.com ----- Forwarded by Carol St Clair/HOU/ECT on 07/05/2000 06:17 PM ----- "Giessen, Luanne" <luanne.giessen@gs.com< 07/05/2000 04:35 PM To: "'Carol St Clair'" <Carol.St.Clair@enron.com< cc: Tana Jones <Tana.Jones@enron.com< Subject: RE: MAC Language That was my understanding, but when I saw your draft I thought you had changed your mind. Please revise the draft to those terms and re-send it to me. Luanne Giessen Telephone: (212) 902-0580 Facsimile: (212) 428-1582 e-mail address: luanne.giessen@gs.com -----Original Message----- From: Carol St Clair [mailto:Carol.St.Clair@enron.com] Sent: Wednesday, July 05, 2000 3:02 PM To: Giessen, Luanne Cc: Tana Jones Subject: MAC Language Luanne: I made a mistake on the language that we sent you on MAC. On the last part where it talks about a failure to be rated, my understanding from our discussions is that a MAC would only be triggered if a party's credit support provider failed to be rated by either S&P or Moody's so that if it lost one rating but maintained the other rating a MAC would not be triggered. For this reason the amendment should read ...or its Credit Support Provider shall fail to have a rating from either S&P or Moody's. Please confirm that this is your understanding and sorry for the confusion. Carol St. Clair EB 3892 713-853-3989 (Phone) 713-646-3393 (Fax) carol.st.clair@enron.com
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