FW: Global setoff/net out agreement

-----Original Message-----
From: "Hofer, Charles" <Charles.Hofer@ElPaso.com<@ENRON
Sent: Thursday, November 15, 2001 8:40 AM
To: "'wbradfo@ect.enron.com:'" <wbradfo@ect.enron.com:<; Hendry, Brent
Cc: Brown, Chuck
Subject: Global setoff/net out agreement

Bill,

As much as I'd like to get a "global agreement" with several of our large
counterparties it cannot be done. Legal has advised there are concerns
about these being enforceable. It was a good idea , but it is not workable.
We must continue margining each other the way we are doing now.

Charles

******************************************************************
This email and any files transmitted with it from the ElPaso
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.
******************************************************************